In the spring of 2024, Li Honsing, the head of a social media advertising agency, took on a client who was considered a promising player in the Chinese electric vehicle market. As an experienced marketing veteran of the auto industry, Li borrowed funds to finance Ji Yue’s promotion, hoping to eventually be repaid by the…
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…
Tesla has begun offering its longer-range Model 3 variant to Chinese customers as it fights to regain market share from local rivals amid intense competition in the country’s premium electric vehicle (EV) segment. The US company announced on Tuesday that the new car, which has a range of 830km, would be priced at 269,500 yuan…
Less than 10 per cent of electric vehicle (EV) brands in China will turn a profit in the next five years, as the industry grapples with a price war and chronic overcapacity, according to AlixPartners. However, the country’s top EV players were expected to double their market share in Europe to 10 per cent by…