China’s hybrid car exports to EU up 200%; response to Tesla’s ‘flying car’: 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. BYD to build new factories in Europe to beat trade barriers aimed at Chinese EVs China’s BYD will build new factories in Europe for a bigger market share, as the world’s largest…
China's electric vehicle exports to Europe witnessed a remarkable 200% increase in September, as the country's largest EV manufacturer BYD prepares to build new factories in the continent to counter trade barriers. The surge in hybrid car exports is expected to continue before an import cap established during recent trade talks comes into effect.
The Communist Party's official newspaper in China has cautioned against underestimating China's technological advancements following Tesla's demonstration of a "flying car." This incident has raised concerns among some quarters about the nation potentially falling behind in the global auto industry race.
Chinese battery giant Contemporary Amperex Technology Limited (CATL) experienced a significant decline in its stock price after reporting a decline in third-quarter net profits. The company's shares plummeted over 10% on mainland Chinese markets, with analysts warning of a potential slowdown in demand for electric cars in the country's upcoming year.
China has granted autonomous-driving permissions to two major firms: electric vehicle maker Xpeng and a joint venture of Volkswagen. This move aims to boost the commercialization of driverless cars in the nation, intensifying the competition between China's autonomous driving firms and the US company Tesla.
Tesla drivers in China can now utilize in-car Alipay payments under a new agreement with Chinese fintech giant Ant Group. The integration of the digital payment software into Tesla's vehicles in China allows the company to offer localized smart features amidst intense competition in the market.
A financial analyst has warned that anti-China protectionism may be counterproductive for US carmakers, as these measures intended to shield the domestic automotive industry may unintentionally undermine American carmakers' competitiveness in the global EV market.
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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