Shares of China’s BYD, an automobile manufacturer, soared on Tuesday after the company unveiled a new “Super e-Platform” technology, which it claims can charge electric vehicles (EVs) nearly as fast as filling a gasoline car, within five minutes. The system boasts a peak charging capacity of 1,000 kilowatts (kW), allowing compatible vehicles to gain 400…
Chinese authorities are concerned that Mexico would gain unrestricted access to BYD‘s advanced technology and know-how and may even possibly allow the US access to it, according to the Financial Times. Domestic automakers would need approval from China’s Ministry of Commerce to produce overseas, which it has yet to grant. (A BYD Yangwang U7 on…
NEW YORK — Chinese battery makers are targeted for new restrictions in the U.S. under legislation that would bar the Homeland Security Department from procuring clean energy technology made by six companies. The House of Representatives passed the “Decoupling from Foreign Adversarial Battery Dependence Act” last week. The bill advances to the Senate, where it likely…
The new Model Y variant will be 20 per cent cheaper than the existing editions, which are priced from 263,500 yuan (US$36,406) to 303,500 yuan, according to two people with knowledge of the matter. The US carmaker plans to start producing the car next year at its Shanghai factory. The company has also sent engineers…
Hong Kong stocks fell for the fifth straight day on Thursday, marking the longest losing streak in two months, as investors worried about the global economy amid escalating trade-war risks. The Hang Seng Index declined 0.3 per cent to 23,520.73 as of 9.45am local time, adding to a loss of 3.2 per cent since March…
Stocks in Hong Kong traded between gains and losses as global banks including Citigroup and Goldman Sachs retained their bullish views on Chinese equities on valuation appeal, following a three-day market slide stoked by recession risks. The Hang Seng Index fell 0.1 per cent at 23,752.53 as of 10.50am local time on Wednesday, after rising…
CLN KraneShares Key News Asian equities mostly followed Wall Street lower overnight, except for Mainland China and Hang Seng Tech, as the Philippines and Singapore were hit the hardest. Yesterday’s market tantrum in the U.S. and China’s subsequent gains overnight, though Hong Kong was nearly flat overall, highlight the diversification benefits of owning China. Were…
BYD, the Chinese electric vehicle giant, has rapidly grown into a dominant force in the automotive industry, challenging legacy automakers and rivaling Tesla in global EV sales. While Tesla is often viewed as its biggest competitor, BYD’s executive vice president, Stella Li, believes there is room for cooperation—at least in their shared mission to eliminate…
Guangdong will further strengthen its manufacturing and industrial base and make it more “modern” to maintain its decades-long status as China’s economic powerhouse, according to the top official in the country’s richest province. The southern province will “adhere to the principle of making the real economy our foundation, and manufacturing our mainstay”, Guangdong party secretary…
CATL and BYD‘s combined EV battery installations in January amounted to 35.9 GWh, or 55.8 percent of the 64.3 GWh worldwide. The top 10 also included China’s CALB, Gotion High-tech, Svolt Energy, and Eve Energy. CATL (SHE: 300750) and BYD (HKG: 1211, OTCMKTS: BYDDY) remained the world’s 2 largest makers of electric vehicle (EV) batteries…