China has pledged to improve oversight of the country’s electric vehicle (EV) market to curb undercutting and boost the industry’s overall fortunes, where only three EV makers are currently profitable. Zheng Bei, deputy head of the National Development and Reform Commission (NDRC), mainland China’s economic planning agency, told the China EV 100 forum in Beijing…
As American electric vehicle (EV) maker Tesla struggles with falling sales and share price and global protests against his brand for his support to US President Donald Trump, its CEO Elon Musk looks at India with hope. Long seen as a potential disruptor for India’s EV, Tesla is finally entering India, opening a showroom in…
Chinese automaker BYD reported record revenue of 777.1 billion yuan ($107.2 billion) for 2024, surpassing Tesla’s $97.7 billion, according to a stock filing on Monday. This marks a 29% increase from the previous year, exceeding Bloomberg’s forecast of 766 billion yuan. The Shenzhen-based company has solidified its position as the leader in China’s EV market…
Cheap vehicles, growing market share, a new super-fast charger — Chinese electric vehicle company BYD is taking the fight to Tesla, as the American EV maker’s global sales slump. The company made $170 billion in revenue in 2024, which beat market analysts’ predictions and soared past Tesla’s annual revenue of $155.5 billion. BYD reported a…
Beijing: Chinese carmaker BYD saw a surge in revenue last year, a stock filing showed Monday, surpassing the $100 billion mark and beating rival Tesla as the Shenzhen-based firm accelerates its overseas expansion. BYD has emerged in recent years as the clear leader in China’s highly competitive electric vehicle market, which is the largest in…
Hong Kong stocks fluctuated between losses and gains on Monday, as caution prevailed ahead of US President Donald Trump’s next round of tariffs. The Hang Seng Index rose 0.2 per cent to 23,584.56 as of 10.04am local time. The Hang Seng Tech Index added 0.2 per cent. On the mainland, the CSI 300 Index gained…
Hong Kong has long been the base of William Louey Lai-kuen’s wealth-generating and charitable endeavours, but the eldest great-grandson of Kowloon Motor Bus’ (KMB) founder said he plans to do more thanks to programmes unveiled by the city’s government. “Many of my friends have increased their investment and charity activities in Hong Kong after the…
China’s biggest electric vehicle (EV) maker BYD launched its most expensive model under its Denza brand to challenge BMW and Mercedes-Benz in the luxury segment as competition in the world’s largest auto market intensifies. The Denza unit on Friday unveiled the six-seat SUV called Denza N9, priced at 389,800 (US$60,860) to 449,800 yuan, which is…
Tesla has long been the undisputed leader in the electric vehicle (EV) market, but now, it seems the tides are turning—and fast. Chinese automaker BYD has unveiled a groundbreaking 1,000-volt battery technology that can charge an EV as quickly as filling up a tank of gas, leaving Tesla scrambling to keep up. As BYD surges…
China is frequently a target of criticism over allegations that it does not innovate but instead exfiltrates intellectual property developed abroad and wins by undercutting rivals on price. Now that the country has arguably leapfrogged America in electrical vehicle technology, it is starting to see the value in protecting domestic business in the free market….