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Future of transport

A photo taken on March 25, 2024, shows cars on an assembly line at a Xiaomi plant in Beijing. Photo: Xinhua

China’s EV makers feel crunch as high R&D costs collide with discount pressure

More than 50 new models could hit the market this year, but relentless discounting is devouring profit margins, spelling doom for some firms.

More than 50 new models could hit the market this year, but relentless discounting is devouring profit margins, spelling doom for some firms

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US House votes to restrict tax credits for EVs with Chinese battery tech

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SheDrives: Pakistan’s transgender community get its first ride-sharing service

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Huawei-backed Aito EV brand takes aim at Tesla with semi-autonomous SUV

The car shows off Huawei-developed technologies that the company aims to supply to more EV makers in the future, executive says.

Richard Yu Chengdong, head of Huawei’s smart vehicle business unit, introduces the Aito M9 SUV in Shenzhen on December 26, 2023. Photo: Weibo

EVs outsold oil-guzzlers in China last month, boosting take-up rate

A doubling in subsidies in July helped convince more buyers to embrace electric cars, industry association says.

Will Tesla’s FSD delay give Xpeng the edge in autonomous driving?

The US carmaker is expected to roll out the FSD system on the mainland in the first quarter of 2025, compared with previous expectations of end-2024.

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Nio forecasts record EV sales on demand outlook as China doubles cash subsidies

Shanghai-based EV maker Nio trimmed losses in the second quarter while vehicle margin swelled.

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Co-founder and CEO William Li launches the refreshed ET7 at the Beijing Auto Show in April 2024. Photo: Handout.

A 6-seat Model Y? Tesla to produce new variant for China market in 2025

A revamped Model Y, due in 2025, is expected to take on Li Auto’s L8 and L9 large-size SUVs, which have won over thousands of rich families in mainland China.

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China’s Changan Automobile sets up subsidiary in Germany

Company says its first subsidiary in Europe will perform marketing and engineering research to support further expansion on the continent.

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Tesla delivers 17% more EVs from China factory as sales slip for rivals

US carmaker bucks downward trend in first six months, while sales decline 5.6 per cent for Li Auto and 1.6 per cent for Nio despite larger government subsidy for buyers.

Workers check Tesla EVs rolling off the assembly line at the company’s Gigafactory in Shanghai on December 22, 2023. Photo: Xinhua

Chinese EV start-up Rox Motor to push overseas expansion

Shanghai-based carmaker aims to grow sales channels in the Middle East, Africa and Central Asia as price war at home erodes margins.

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Rox Motor is viewed as a latecomer in mainland China’s EV race, where 50 or so players are now embroiled in a discount war. Photo: Weibo/Rox Motor

China EVs: Leapmotor, Xpeng set the pace in August, while Li Auto and Nio stumble

Stellantis-backed Leapmotor hit record sales last month, while others like Li Auto and Nio struggle amid fierce competition and price war.

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Geely’s Zeekr unit rolls out a midsize SUV to rival Tesla’s Model Y

Shanghai-made Model Y, which sells from a basic catalogue price of 249,900 yuan (US$35,239), is mainland China’s bestselling midsize SUV, outselling all electric and petroleum-driven models.

In China, hybrid cars beat EVs in popularity on range anxiety, costs

Hybrid cars are cheaper and more efficient, reasons why Chinese consumers are favouring them over pure electric cars. Range anxiety and cost issues are deemed challenging for young drivers.

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BYD releases a new entry-level plug-in hybrid model at the Beijing International Automotive Exhibition in April 2024. Photo: Kyodo

Baidu-backed Jiyue fights for traction with second EV model launch

The company banks on autonomous-driving technology as it strives for a spot among the country’s top makers after lacklustre sales of its first model.

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The Jiyue 07 is expected to take on Tesla’s Shanghai-made Model 3. Photo: Jiyue

2 Republicans ask Pentagon to add Chinese battery maker CATL to restricted list

Lawmakers said CATL has ties to Chinese Communist Party and its military, and ‘reliance on CATL batteries endangers national security’.

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BYD, Li Auto sell more EVs at thinner margins as price war intensifies

China’s only profitable EV builders rebound from poor first-quarter performance, with BYD’s second-quarter earnings nearly doubling and Li Auto’s increasing by 86 per cent.

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Xpeng’s keenly priced Mona 03 EV is targeted at market leader BYD

The M03 ­compact sedan, which is equipped with an advanced driving assistance system and has a range of 515km, starts from 119,800 yuan (US$16,812).

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Guangzhou-based Xpeng’s new brand Mono is aimed at the mass-market EV segment. Photo: Xpeng)

Explainer | What’s the buzz around China’s low-altitude economy?

From drone deliveries and surveillance to flying cars and tourism, technology for manned and unmanned aviation applications is being rapidly embraced across China.

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Chinese EV maker Hozon launches latest model ahead of Hong Kong IPO

The Neta S, targeting rivals like Zeekr’s 001, starts at US$22,450 and comes in extended-range variants with a range of 1,200km.

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China’s low-altitude economy spreads wings as struggling locales look skyward

The economic model has been elevated to new heights nationwide as struggling regional governments vie for a piece of the pie in the sky.

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A light-sport aircraft is readied in China’s Shandong province last month. Photo: Xinhua

China’s EV makers sell more vehicles at bigger losses in discount war

EVs account for more than half of new car sales in mainland China, but brands including Xpeng, Zeekr, Leapmotor and Xiaomi face a long road to profitability.

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EVs take shape on a production line of Chery Automobile in Wuhu, Anhui province, China, on July 29, 2024. Photo: Reuters

Chinese Robotaxi start-up WeRide delays US IPO on paperwork delay

The postponement complicates WeRide’s listing plan, as Beijing’s approval for the deal is set to expire at the end of this week.

HKIC-backed Spark, Thailand’s Bangchak tie up for 1,000 EV charging stations

HKIC’s maiden overseas initiative will help Thailand’s green transformation with cutting-edge technologies developed by Hong Kong firms, Financial Secretary Paul Chan says.

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Chinese EV maker Zeekr posts record revenue, challenges market leaders

The Geely-controlled company’s revenue jumped 36 per cent and its deliveries shot up 65.8 per cent in the second quarter as it lured buyers away from rivals Xpeng, Nio and Tesla.

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Visitors learn about a Zeekr 001 at the Spring Auto Show in Yantai, China, on April 14, 2024. Photo: Getty Images

Chinese EV maker Xpeng forecasts minimum 35% jump in sales

The Guangzhou-based company, reporting a narrower loss for the second quarter amid 25 per cent revenue growth, cited investments in technology for its bullish outlook.

Visitors walk past an Xpeng logo at the Beijing International Automotive Exhibition in Beijing on April 25, 2024. Photo: Reuters

Chinese EV maker Nio to amp up battery-swap network

The company will add 900 swap stations this year that promise to get drivers back on the road in 2.5 minutes. However, advanced batteries are eating into the approach’s time advantage.

Editorial | Driverless tech calls for safety, not speed, in Hong Kong

Despite public scepticism, Hong Kong is on the right road to autonomous vehicles with a measured pace of development.

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Future of transport
From electric cars to on-demand car service apps, companies like Uber, Google and Didi Dache are changing the way we get from place to place, and having a potentially irreversible effect on employment in this key sector. 
last updated:
9 September, 2024
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