Eve Energy, China’s fifth-largest producer of electric vehicle (EV) batteries, plans to raise fresh capital on the Hong Kong stock exchange, following the lead of its bigger rival Contemporary Amperex Technology (CATL) as international investors show a growing appetite for the country’s industrial gems. The Shenzhen-listed company said on Tuesday that its board had endorsed…
Two electric vehicle (EV) models targeting middle-income consumers in mainland China with lower prices have emerged as Tesla’s strongest rivals, as buyers become more budget-conscious. Galaxy from Geely Auto and Xpeng’s Mona 03, which are priced at about 150,000 yuan (US$20,580), threaten to disrupt the pecking order in China’s EV sector. “Young, middle-income consumers favour…
Deliveries of pure electric and plug-in hybrid cars across mainland China plummeted 50 per cent to 206,000 units in the first 12 days of the year compared with the same period in December, according to the China Passenger Car Association (CPCA). The sharp decline follows a 42 per cent surge in sales last year, making…
Shanghai-based BYD Co (BYDDY, Financial), China’s largest new-energy car maker, is speeding up in the global auto industry and closing the gap with Ford in terms of sales volume. As a result of new demand and a high production expansion rate, BYD sales by the end of October increased by 36% compared with the corresponding…
Four major Chinese electric vehicle (EV) makers reported record monthly sales in October, buoyed by surging domestic demand, even as they grappled with barriers to overseas growth amid punitive tariffs levied by the European Union (EU). BYD, the world’s largest EV assembler, sold 502,757 pure-electric and hybrid EVs last month, up 66.5 per cent year…