Chinese carmakers eye full hybrid market; BYD posts US$1.2 billion profit: 7 EV reads
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. After gaining EV sway, Chinese carmakers eye full hybrid market Chinese carmakers, already at the vanguard of electric vehicle (EV) technology and production, are looking to make a dent…
Chinese car manufacturers are increasingly targeting the full hybrid vehicle market, aiming to challenge established international brands. Amidst the growing electric vehicle (EV) sector in China, authorities have emphasized the importance of prioritizing quality over technological advancements. Chinese authorities have urged carmakers to focus on improving the quality of their products, rather than solely emphasizing technological features.
In the second quarter, BYD, a leading Chinese EV manufacturer, reported a significant US$1.2 billion profit, driven by soaring global demand. This marked a 30% increase in earnings, ending a five-quarter losing streak for the company. The surge in profitability can be attributed to strong overseas sales and the introduction of premium models, which have positively impacted the company's net margin and profitability.
China has taken a step towards setting global standards for solid-state batteries, with a proposed international standard for automotive solid-state batteries approved by the International Electrotechnical Commission (IEC). This marks the first such standard for advanced power systems and signifies China's determination to establish rules in emerging industries.
Written by urgent.news from SCMP Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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