Chinese battery giant Contemporary Amperex Technology Co Limited (CATL) slightly missed market estimates for second-quarter revenue and net profit, as China’s weakening demand for electric vehicles (EVs) outweighed benefits from the energy shock. The world’s largest battery maker reported a record 147.79 billion yuan (US$21.8 billion) in revenue and a record 22.5 billion yuan in net profit for the second quarter, up 56.92 per cent and 36.5 per cent year on year, respectively, according to an...
Geely Auto, China’s second-largest carmaker, has struck a deal with Ford Motor to use the US company’s redundant capacity in Spain to build electric vehicles (EVs) amid its stepped-up push to expand globally. Multi-energy cars would be assembled at an idle factory in Almussafes, near Valencia, after the two companies set up a venture, with deliveries expected to begin in 2028, according to a statement by Geely on Thursday. The Chinese group would hold a 34 per cent stake, while Ford would...
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. BYD’s EV tech in the spotlight as it challenges Porsche’s 911 Chinese electric vehicle (EV) assembler BYD has set its sights on Porsche’s supercars with plans to sell its Denza-branded new models in developed markets, the latest sign of its increasing heft in designing and...
Chinese electric vehicle maker Xpeng made its European ambitions clear on Thursday, as the firm unveiled its Mona L03 compact SUV at an event in the heart of Germany’s car industry, Munich. The launch, arguably the largest ever staged in Europe by a Chinese carmaker, was not just about introducing a new model, but also about convincing Europe that Xpeng is here to stay. “We are here not only to bring our products to Europe, but also to build them for Europe,” said He Xiaopeng, Xpeng’s chairman...
BYD, the world’s largest electric vehicle (EV) maker, has intensified efforts to promote its high-performance batteries and superfast charging technology around the world as it tests a car that it says boasts the world’s longest driving range in a journey from Rome to Hong Kong. A fleet of upgraded versions of the Z9GT, a car produced under BYD’s premium Denza brand, has been travelling across European countries including Italy, Croatia, Serbia and Turkey for nearly a month at the start of a...
Xiaomi, the smartphone vendor that has become one of Tesla’s biggest challengers in mainland China after entering the electric vehicle (EV) market, has doubled down on research and development to combat a slowdown in domestic sales. The Beijing-based tech giant announced on Thursday it would assemble and sell models under a new sport-utility vehicle (SUV) line known as Sky Nomad, a product range analysts said would be likely to include extended-range battery technology to lure consumers away...
Chinese electric vehicle (EV) assembler BYD has set its sights on Porsche’s supercars with plans to sell its Denza-branded new models in developed markets, the latest sign of its increasing heft in designing and manufacturing premium vehicles. The Shenzhen-based carmaker planned to unveil the Denza Z sports car featuring BYD’s self-developed intelligent DiSus body control system at the UK’s Goodwood Festival of Speed on Thursday, it announced in a statement. The European debut of the sports...
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. China’s BYD surpasses Tesla to regain lead in global EV race China’s electric vehicle (EV) king BYD has leapfrogged once more over Tesla to become the world’s largest battery-powered car manufacturer, spurred by its surging overseas shipments, despite posting an 8.2 per cent...
Chinese Tesla challengers Leapmotor and Zeekr, banking on their latest battery and self-driving technologies, bucked a downward trend in domestic electric vehicle sales with record deliveries last month, ratcheting up pressure on the US carmaker amid weak consumer sentiment towards big-ticket items. Stellantis-backed Leapmotor delivered 93,376 electric vehicles (EVs) last month, up 94.5 per cent year on year, as it rewrote its sales record for a second consecutive month. Zeekr, a premium EV unit...