Author: Jackson Han

Chinese electric vehicle (EV) manufacturer BYD reported an 11.5% increase in net profit for the third quarter on Wednesday, reaching 11.6 billion yuan ($1.63 billion), as strong sales were bolstered by national trade-in incentives and regional subsidies supporting EV adoption. The company’s revenue for July-September rose 24% year-on-year to 201.1 billion yuan ($28.24 billion), exceeding Tesla’s revenue for the same period at $25.2 billion, according to BYD’s stock exchange filing. A significant portion of BYD’s sales growth was driven by the company’s latest plug-in hybrid models, with sales jumping 75.6% year-on-year to 685,830 units in the third quarter. Pure electric…

BYD’s premium sub-brand Yangwang is set to introduce its next-generation blade battery in the upcoming U7 sedan, according to Wu Ying, editor-in-chief of local automotive news site Xchuxing. This advanced battery will provide faster charging and enhanced power output capabilities. The second-generation blade battery will offer a charging multiplier exceeding 5.5 C and a discharging multiplier surpassing 14 C, Wu revealed in a post on Weibo. “Yangwang’s friend told me that I can get ready to experience the Yangwang U7,” he wrote, though he did not disclose additional details. The 5.5 C rating indicates that the U7 battery could fully…

BYD, China’s largest electric vehicle (EV) manufacturer, is eyeing Australia as the next market for its budget-friendly Seagull EV. The Seagull, which retails for under $10,000 (69,800 yuan) in China, has become a best-seller, topping monthly EV sales charts in China since March and recently surpassing 400,000 units sold. BYD’s expansion efforts are clear as it introduces the compact Seagull, branded overseas as the Dolphin Mini, in markets such as Mexico and Brazil, where it remains one of the most affordable EVs with starting prices around $20,000. David Smith, CEO of BYD’s Australian importer, EVDirect, recently confirmed that the company…

China’s Geely Automobile Holdings introduced its latest hybrid technology on Wednesday, touting fuel efficiency and driving range metrics that surpass those of rival BYD, the leading player in China’s plug-in hybrid segment. Named Leishen EM-i, Geely’s new system reportedly achieves fuel consumption of 2.62 litres per 100 km (62.1 miles) and a combined gasoline-electric range of 2,390.5 km, based on media test results. Geely’s hybrid system will first feature in the Galaxy Starship 7 crossover, which Geely claims can attain fuel consumption of three litres per 100 km in real-world driving conditions. The company stated that Leishen technology will also…

Xiaomi launched a high-end version of its SU7 electric sports car on Tuesday, setting the price at 814,900 yuan ($114,000) and aiming to position the vehicle as China’s fastest mass-produced four-door car. The move places Xiaomi in direct competition with established electric vehicle (EV) brands like Tesla (TSLA.O) and Porsche. Xiaomi, traditionally known for its smartphones and household appliances, entered China’s growing EV market earlier this year with the SU7, an entry model that mirrors the Porsche aesthetic with a starting price under $30,000. CEO Lei Jun presented the SU7 Ultra, a performance-focused model, at a three-hour, live-streamed product launch.…

Tesla will continue offering its five-year, zero-interest financing option in China next month, extending the purchase incentive for select Model 3 and Model Y variants. Originally introduced in April as a limited-time offer, the financing plan now allows Chinese customers who buy certain Tesla vehicles before November 30 to secure a 0 percent interest rate on their loans, as detailed on the company’s Chinese website. The incentive is available for the entry-level and long-range all-wheel-drive versions of both the Model 3 sedan and Model Y crossover, both of which are manufactured at Tesla’s Shanghai facility. The locally produced Model 3…

The Zeekr Mix, the latest offering from Geely’s premium electric vehicle brand Zeekr, has entered the Chinese market, priced from 279,900 yuan (approximately $39,250). This high-end electric MPV blends innovative concept-car aesthetics with advanced safety features, extensive cabin space, and practical design touches that position it as an attractive choice for families. As the sixth model in Zeekr’s growing lineup, the Mix sets itself apart with a stylish exterior and features aimed at meeting the needs of the modern driver. One of the Mix’s standout aspects is its design, built on Geely’s SEA-M modular architecture, which prioritizes space and versatility.…

Tesla’s Megafactory in Shanghai is on track to begin shipments by the first quarter of 2025, advancing Tesla’s expansion in energy storage manufacturing. Local media outlet IT Home reported last month that the factory, currently over 60% complete, has passed the halfway mark in construction—a milestone reached just five months after Tesla broke ground on May 23, 2024. The facility, located on a 49.4-acre site in Shanghai’s Lingang area near Giga Shanghai, will eventually have an annual production capacity of 10,000 Megapack batteries, equivalent to roughly 40 GWh of energy storage. During its Q3 earnings call, Tesla projected an initial…

German automotive supplier ZF Friedrichshafen has appointed Mathias Miedreich, former CEO of Umicore, as the new head of its Electrified Powertrain Technologies division, effective January 1, 2025. Miedreich, 49, will succeed Stephan von Schuckmann, who resigned for personal reasons earlier this year. ZF’s CEO, Holger Klein, has overseen the division on an interim basis, guiding it through a period of restructuring and operational adjustments. While the Electrified Powertrain Technologies division includes ZF’s electric, hybrid, and combustion engine drive systems, the bulk of its sales, totaling €11.5 billion, currently come from traditional combustion and plug-in hybrid systems. The shift toward battery-electric…

The European Union and China have agreed to pursue additional technical negotiations in an effort to find alternatives to the tariffs due to be imposed on China-manufactured electric vehicles (EVs) next week. The European Commission and China’s Ministry of Commerce confirmed the upcoming discussions, which may consider options such as minimum price commitments or increased Chinese investments within Europe. “The principals agreed that further technical negotiations would take place shortly,” the European Commission stated, following a video call between EU Trade Commissioner Valdis Dombrovskis and Chinese Minister of Commerce Wang Wentao. With the investigation set to conclude, the EU is…

Japan, a former leader in electric vehicle technology, now trails behind China, which has taken the lead in the global EV market. In an effort to understand the advancements driving this shift, Japan’s Central Economic and Trade Bureau recently held a seminar to examine the technology in popular Chinese EVs, focusing on the BYD Atto 3. Known as the Yuan Plus in China, the Atto 3 impressed Japanese attendees for its affordability and capabilities. In China, this compact electric SUV starts at under $20,000 and offers a 201-horsepower motor paired with a 50-kilowatt-hour battery, providing up to 267 miles (430…

Chinese automaker BYD debuted its Shark hybrid pickup in Brazil, marking the model’s entry into its third international market following launches in Mexico and Panama. The launch event, held in Goiania, underscored BYD’s strategic expansion in South America, where the company has sold over 60,000 electric vehicles this year, a milestone noted by Alexandre Baldy, senior vice president of BYD Brazil. The Shark, based on BYD’s DMO (dual-mode off-road) platform, enters the Brazilian pickup market with specifications aimed at competing against top players like the Toyota Hilux and Ford Ranger. It measures 5,457 mm in length, 1,971 mm in width,…

Nio’s (NYSE: NIO) sub-brand Onvo is set to expand its lineup with the introduction of two new SUV models next year, following the recent market entry of its first vehicle, the L60 SUV. A report from local tech media outlet Leiphone indicates that the second model will be a six- or seven-seat SUV, anticipated for release by the end of the first quarter of 2025. Deliveries for this new SUV model are expected to begin around May; however, potential delays have not been ruled out, according to the report. This timeline appears to differ from previous statements made by Nio’s…

Zeekr, the premium electric vehicle (EV) brand under the Geely Holding Group, introduced its latest model, the Zeekr Mix, on October 23, marking yet another innovative stride for the Chinese automaker. Following the success of its first model, the Zeekr 001 shooting brake, the new Mix represents the company’s ambition to challenge industry norms and redefine vehicle categories. Notably, the Zeekr Mix is not officially categorized as either an SUV (sport utility vehicle) or an MPV (multi-purpose vehicle), despite bearing the look of a typical MPV. In a communication with media, Zeekr management explained that the decision to avoid labeling…

Tesla has returned to its previous profit levels in the third quarter of 2024, posting a double-digit margin for the first time after a challenging start to the year. The electric vehicle giant reported $25.2 billion in sales, an 8% year-on-year increase, and $2.17 billion in profit, marking a 17% year-on-year rise. Tesla’s Q3 performance is its second-best sales result, despite an overall slowdown in the electric vehicle market and heightened competition from Chinese automakers. The company attributed its renewed success to cost-cutting measures and the introduction of more variants of its popular Model 3 and Model Y vehicles. Tesla’s…

Chinese electric vehicle (EV) maker Nio announced a new partnership with Wuhan Shouyi Scientific Innovation Investment Group to expand its battery swap infrastructure in Hubei province. The agreement, part of Nio’s Power Up Partners program, aims to add 100 battery swap and charging stations across the province, significantly boosting the region’s energy replenishment network. The deal was formalized in a signing ceremony attended by Nio Senior Vice President Shen Fei and Wu Jiang, General Manager of Wuhan Shouyi, according to a statement from Nio. This collaboration marks the first major partnership secured under Nio’s Power Up Partners initiative, which was…

Supernal, Hyundai Motor’s urban air mobility unit, announced on Tuesday two key partnerships to advance the development of its air taxi infrastructure. The agreements, one with private jet charter firm Clay Lacy and another with passenger helicopter operator Blade Urban Air Mobility, are intended to support the launch of Supernal’s electric vertical take-off and landing (eVTOL) aircraft in 2028. Supernal’s five-seat, battery-powered eVTOL is designed for short intra-city passenger journeys, offering a way to bypass urban traffic congestion. The eVTOL concept, heralded as the future of urban air mobility, has attracted significant global interest, though it faces challenges related to…

Chinese tech giant Xiaomi Corp is set to finish the second phase of its electric vehicle (EV) factory expansion by mid-2025, according to a report from state-backed media. The Xiaomi Intelligent Manufacturing Industrial Base, located in Beijing’s Yizhuang New Town, is expected to complete its expansion on June 15, 2025, as workers push to meet deadlines. The new factory is adjacent to the first-phase facility, which has been operational since Xiaomi’s entry into the EV sector in 2021. This move marked a diversification from the company’s core business in smartphones. Xiaomi launched its first EV model, the SU7 sedan, in…

South Korean SUV manufacturer KG Mobility has entered into a strategic partnership with China’s Chery Automobile to co-develop a range of vehicles, including plug-in hybrid cars, in a move aimed at expanding its global footprint. According to a regulatory filing by KG Mobility, the agreement was signed on Friday and includes collaboration on vehicle design, development, manufacturing, and distribution. The partnership will involve sharing the intellectual property of Chery’s T2X platform, a technology used for producing plug-in hybrid vehicles. The agreement covers all global markets, excluding China and the United States, and will last for eight years. “KGM started as…

The Changan Nevo E07 crossover has officially entered the Chinese market, capturing attention with a starting price of 199,900 yuan (approximately $28,100 USD). Available in both Extended-Range Electric Vehicle (EREV) and Battery Electric Vehicle (BEV) variants, the standout feature of the E07 is its unique transformation capability, allowing it to switch from an SUV to a pickup truck at the push of a button. Brand Background Changan Nevo, known as Qiyuan in China, is a relatively young brand focused on manufacturing new energy vehicles. Most of its model lineup consists of plug-in hybrid electric vehicles (PHEVs) and electric vehicles (EVs)…