Chinese makers of smart electric vehicles (EV) will have to redouble their efforts over the next few quarters to stay on track to break even as the brutal discount war in the world’s largest vehicle market shows few signs of abating. From Nio to Xpeng and Zeekr, China’s EV start-ups have been reporting smaller losses…
Hong Kong stocks rose on Wednesday on renewed optimism about China’s tech industry prospects, while investors awaited global AI chip leader Nvidia’s earnings. The Hang Seng Index gained about 0.1 per cent to 25,541.43 at noon, rebounding from a 1.2 per cent loss in the previous session. The Hang Seng Tech Index climbed 0.6 per…
This article first appeared on GuruFocus. Nio (NIO, Financials) surged Thursday after unveiling one of its most affordable electric SUVs, part of its strategy to stay competitive in China’s crowded EV market. The new ES8, announced late Thursday, is priced at 308,800 yuan ($43,000) under a battery subscription plan, allowing users to swap or upgrade…
The world’s largest hedge fund, Bridgewater Associates, sold all of its holdings in US-listed Chinese companies in the second quarter, marking a decisive retreat from the market as geopolitical tensions and shifting investor sentiment clouded the outlook for the world’s second-largest economy. The fund exited positions in 16 Chinese stocks, which were worth US$1.41 billion…
We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. How China’s ‘big winner’ BYD conquered Sri Lanka’s car market Aggressive pricing, shrewd tax engineering and a…
Electric-vehicle (EV) makers from Tesla to Nio are shifting their focus from price cuts to developing spacious family friendly, long-range vehicles for the mainland Chinese market. The premium SUV segment has emerged as the new battlefront, as carmakers heed Beijing’s call to end a brutal price war and chase affluent consumers to improve their bottom…
Yum China, the company behind chains such as KFC and Pizza Hut, introduced an artificial intelligence (AI) agent for store managers on Friday, aligning with the restaurant industry’s broader push towards AI adoption to enhance efficiency. The assistant, named Q-Smart, was an AI-powered management system that enabled natural language interactions with store managers through wireless…
The Hang Seng Index gained 0.7 per cent to 24,329.11 at 10.56am local time, while the Hang Seng Tech Index advanced 0.5 per cent. On the mainland, the CSI 300 Index strengthened 0.6 per cent and the Shanghai Composite Index added 0.4 per cent. BYD gained 1.2 per cent to HK$137.20 after it joined other…
At the busiest station along the highway, the number of services in a single day reached 150. Compared to the same holiday last year, there was a 64 percent increase in the average daily number of services provided by battery swap stations along highways. (Image credit: Nio) Nio (NYSE: NIO) saw a spike in battery…
Pure electric vehicles (EVs) are regaining their lost ground in mainland China as new battery technologies ease range anxiety while lower lithium prices make it increasingly affordable for consumers to own environmentally friendly cars. Sales of pure electric cars, also known as battery EVs (BEVs), reached 1.93 million units in the first quarter, a 48…