Geely Automobile Holdings, Chery Automobile and BYD, the most profitable listed Chinese carmakers last year, all reported double-digit declines in net profit in the first quarter, highlighting a squeeze at home amid reduced purchase incentives. Hangzhou-based Geely, the country’s second-largest carmaker behind BYD, said in a filing on Wednesday that its net profit for the January-March period slid 27 per cent year on year to 4.17 billion yuan (US$610 million). The profit slump came even as...
The impact of sky-high costs for memory chips is spreading from smartphones to cars, as China’s electric vehicle (EV) king BYD announced a 21 per cent price increase for its high-end driver-assistance system. Starting on Friday, the price of the optional DiPilot 300 assisted-driving system would rise to 12,000 yuan ($1,757) from 9,900 yuan, BYD said on Tuesday, attributing the decision to “the sharp rise in global storage hardware costs”. The system, which allows cars to navigate themselves on...
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 EV and battery makers race to cut charging times to under 10 minutes Battery makers and electric vehicle (EV) manufacturers have seized on the Beijing Auto Show to showcase technologies promising shorter charging times in a race triggered by BYD and Contemporary Amperex...
BYD’s first-quarter net profit matched market estimates as China’s electric vehicle (EV) king partly offset weakness in its domestic market with rising exports. The mainland’s largest and most profitable EV maker reported a net profit of nearly 4.09 billion yuan (US$590 million) for the first three months of the year, a drop of 55 per cent compared with a year earlier. Revenue came in at 150.2 billion yuan, down 11.8 per cent from a year earlier. The market’s consensus estimate was 4.09 billion...
Battery makers and electric vehicle (EV) manufacturers have seized on the Beijing Auto Show to showcase technologies promising shorter charging times in a race triggered by BYD and Contemporary Amperex Technology Ltd (CATL). Fast-charging technology has dominated the floor at the 10-day event which runs until May 3. Second-tier Chinese battery suppliers including CALB Group, EVE Energy and Sunwoda unveiled products capable of boosting power to 70 per cent, from a starting point of 10 per cent,...
With the price of fuel rising China's BYD says it is positioning itself to benefit from the global shift away from fossil fuels.
In Canada, fans and foes of Chinese electric vehicles are holding their breath for brands like BYD to hit the market. Whether they love them or not, they share the hope that Chinese carmakers will help to bring all EV prices down, as affordability becomes a growing concern for consumers. Companies including BYD, Geely, Nio and Xpeng are preparing to roll out sales locations in Canada, seizing the opportunity of warmer ties between the two countries. Ottawa struck a milestone trade deal with...
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. Tesla outraces China’s BYD in pure electric car sales to regain world’s top spot Tesla has regained the global pure electric vehicle (EV) crown for the first time since the fourth quarter of 2024, after its deliveries rose 6.5 per cent year on year in the three months ending March. 2....
The Brazilian government has dismissed the head of its labour inspection authority, days after his office added Chinese electric vehicle giant BYD to a registry of employers found to have subjected workers to conditions analogous to slavery. Luiz Felipe Brandao de Mello led the National Secretariat of Labour Inspection since 2023 and his dismissal was published in the official gazette on Monday. He oversaw the unit responsible for enforcing labour standards nationwide, including the fight...
Chinese electric vehicle (EV) stocks rallied against a falling broader market in Hong Kong on Monday, as strong export data and rising oil prices bolstered the appeal of battery-powered and hybrid cars while a coming wave of model launches sparked hopes of a domestic demand recovery. Nio surged 6.6 per cent to HK$52 as of the noon trading break, while BYD climbed 5.6 per cent to HK$111, the highest since October 2. Chery Automobile rose 1.3 per cent to HK$32.72, while Xpeng advanced 0.5 per cent...
Brazil’s labour ministry on Tuesday added Chinese electric vehicle giant BYD to a registry of employers found to have subjected workers to conditions analogous to slavery, limiting access to state financing and increasing reputational risks in its most important market outside China. The Ministry of Labour and Employment published the updated Cadastro de Empregadores, commonly known as the “dirty list”, adding 169 employers in the latest semi-annual revision. BYD Auto do Brasil Ltda. was...
Tesla has regained the global pure electric vehicle (EV) crown for the first time since the fourth quarter of 2024, after its deliveries rose 6.5 per cent year on year in the three months ending March. The modest increase was enough for the US carmaker to beat China’s EV king BYD, which posted a 25.5 per cent drop in sales during the first quarter of 2026. Tesla’s deliveries worldwide between January and March hit 358,023 units, it said in a statement on Thursday. Tesla builds only pure electric...