Author: Andrew Wang

Chinese electric vehicle manufacturer Xpeng reported a significantly wider net loss in the first quarter of 2026, reversing the company’s first-ever quarterly profit achieved at the end of last year as seasonal weakness weighed on vehicle sales. The automaker posted a net loss of 1.78 billion yuan ($260 million) for the three months ended March 31, according to its latest unaudited financial results. The loss compares with a net loss of 660 million yuan in the same period a year earlier and follows a net profit of 380 million yuan recorded in the fourth quarter of 2025. Revenue declined 17.6%…

Nio has officially launched sales of its flagship ES9 electric SUV in China, marking the market introduction of the company’s largest battery-electric sport utility vehicle following its debut at Auto China in April. Positioned as an “Executive SUV,” the ES9 is available from 390,000 yuan (approximately €49,500) under Nio’s Battery-as-a-Service (BaaS) program, or from 498,000 yuan (around €63,000) with the battery included. The ES9 measures 5.37 metres in length and features a wheelbase of 3.25 metres, making it one of the largest battery-electric SUVs currently available in the Chinese market. Nio said the dimensions enable a spacious three-row interior designed…

State Grid Changzhou Power Supply Company has energised a new box-type transformer to supply centralised electric vehicle charging stations at Chengbei Community in Jintan District, Changzhou, in China’s Jiangsu Province, as part of efforts to address growing charging demand linked to rising new energy vehicle adoption. The project was developed to resolve charging shortages in an older residential community where increasing ownership of new energy vehicles (NEVs) had exceeded the capacity of existing electrical infrastructure, the company said. According to State Grid Changzhou, the project required coordination among investors, local community committees and property management companies. The utility said it…

Xiaomi has introduced a new standard version of its Xiaomi YU7 sport utility vehicle in China as the company intensifies competition with Tesla in the world’s largest electric vehicle market. The new YU7 variant was unveiled at a launch event on Thursday with a starting price of 233,500 yuan ($34,320), about 20,000 yuan lower than the previous standard version. Xiaomi has renamed the earlier standard YU7 model as the YU7 Long Range edition. Lei Jun, founder, chairman and chief executive of Xiaomi, said the latest version was intended to further compete with Tesla’s Tesla Model Y in China. Tesla currently…

Xiaomi founder and Chief Executive Lei Jun said the company’s upcoming YU7 GT electric SUV will be “a bit expensive,” as he sought to temper market expectations ahead of the vehicle’s official launch on May 21. In a video published on Chinese social media platform Weibo on Wednesday, Lei described the high-performance electric SUV as a product aimed at affluent consumers and driving enthusiasts. “As a sports SUV suitable for long-distance travel, the YU7 GT is also designed for more of the era’s elites,” Lei said. “They could be mid-to-senior level executives in tech companies, or high-end driving enthusiasts. They…

Chinese electric vehicle manufacturer Xpeng said on Monday that its first mass-produced robotaxi vehicle has rolled off the production line in Guangzhou, as the company accelerates efforts to commercialize autonomous driving technology. Xpeng said the vehicle, developed on its GX platform, was engineered to Level 4 autonomous driving standards, making the company the first automaker in China to announce mass production of robotaxis. https://twitter.com/XPENG_Global/status/2056344535005843784 The model is powered by four of Xpeng’s internally developed Turing AI chips, providing up to 3,000 tera operations per second (TOPS) of computing power for autonomous driving functions. Unlike many competing autonomous vehicle developers, the…

Li Auto reported largely flat vehicle deliveries in April compared with a year earlier, as the company continued expanding into overseas markets and prepared for the launch of a new flagship model later this month. The automaker delivered 34,085 vehicles in April, up 0.43% from 33,939 units a year earlier, according to company data released on Friday. Deliveries, however, declined 16.97% from March’s total of 41,053 vehicles. See also: Li Auto to Launch i9 Flagship Electric SUV in Second Half of 2026 For the first four months of 2026, Li Auto delivered 129,227 vehicles, representing a 1.91% increase year-on-year. Cumulative…

BYD reported a steep decline in first-quarter profit, highlighting mounting pressure on automakers as China’s new energy vehicle (NEV) market entered a seasonal slowdown. Net profit attributable to shareholders fell 55.38% year-on-year to 4.09 billion yuan ($594 million), according to the company’s financial results. Adjusted net profit, excluding non-recurring items, declined 49.24% to 4.15 billion yuan. Revenue also dropped 11.82% to 150.23 billion yuan during the period, reflecting weaker sales and intensifying competition. BYD sold 700,463 NEVs in the first quarter, down 30.01% compared to a year earlier and 47.82% lower than in the fourth quarter, when demand had been…

CATL has raised approximately €4.3 billion through a new share placement in Hong Kong, as the company looks to expand global production capacity and invest in research and development. The Chinese battery giant sold new H-shares worth 39.2 billion Hong Kong dollars, pricing them at HK$628.20 each—around 7% below the previous closing price of HK$675.50 on the Hong Kong Stock Exchange. The capital raise follows CATL’s initial public offering in Hong Kong in May 2025, which generated roughly €4.1 billion. Since then, the company’s share price has risen by around 157%, reflecting strong investor appetite for clean energy and battery-related…

China’s retail sales of new energy vehicles rose sharply in March from the previous month but continued to decline from a year earlier, extending a broader slowdown in the country’s electric vehicle market, data from the China Passenger Car Association showed on Thursday. Passenger NEV retail sales in China totaled 848,000 units in March, up 82.6% from February but down 14.4% from the same month a year earlier, marking the third consecutive month of year-on-year decline, according to CPCA data. China classifies new energy vehicles as battery electric vehicles, plug-in hybrid electric vehicles and fuel cell vehicles. Battery electric vehicle…

CATL has signed a strategic cooperation agreement with Guangzhou Public Transport Group to jointly develop a battery swap network for taxis in Guangzhou, as part of its broader expansion into energy infrastructure. The agreement was signed in Ningde, where CATL is headquartered. Under the partnership, the two companies will collaborate on battery supply, maintenance, recycling and the deployment of battery swap facilities, CATL said in a statement. The companies will also explore additional applications, including electric vessels, vehicle-to-grid (V2G) systems and low-altitude mobility solutions, with the aim of building a more diversified urban energy ecosystem. While detailed rollout plans for…

Nio has unveiled an updated version of its Firefly compact electric vehicle, adding new features and performance improvements without raising prices, as the brand looks to strengthen its appeal among urban commuters. The Firefly, positioned as a boutique compact EV under Nio, is now priced from 119,800 yuan ($17,470) for the base version with battery included. Customers opting for the company’s battery-as-a-service (BaaS) programme can purchase the vehicle from 79,800 yuan, with a monthly battery rental fee of 399 yuan. A higher-spec variant starts at 125,800 yuan for full ownership, or 85,800 yuan under the BaaS model. The updated model…