The Chinese Company That Loses $55,000 on Every Electric Car It Makes
Chinese electric car manufacturer Nio continues to stay afloat despite having lost an estimated A$55,000 on every car it sold in the second quarter of this year. It’s one of many electric car companies that enjoys the backing of China’s…
China’s BYD Forecasts Higher Third-Quarter Profit on Record EV Sales
Chinese automaker BYD Co. expects third-quarter profit to rise at least 67% on the back of record electric-vehicle sales. The Warren Buffett-backed maker of electric vehicles and batteries estimated net profit for the quarter at between 9.55 billion yuan ($1.31…
MOVIN Rolls Out The Second Phase Of Electric Vehicles In Bengaluru Paving The Way For Greener Deliveries In Logistics
MOVIN, a logistics brand launched as a joint venture between UPS and InterGlobe Enterprises adds the second fleet of Electric Vehicles (EV) for its first and last-mile deliveries in Bengaluru. The first fleet was rolled out in Delhi NCR earlier…
Pekema Signs MoU With Chinese EV Giant
In a move toward transforming the automotive landscape in Malaysia, the Malaysian Malay Vehicle Importers and Traders Association (Pekema) has signed a Memorandum of Understanding (MoU) with the Chinese electric vehicle (EV) giant, Dongfeng Motor Industry Import & Export Co…
China And Electric Vehicles Forge a Growing Political Target For Republicans
A chorus of boos greeted Timothy Nugent, the mayor of Manteno, Illinois, at a village board meeting last week, as he explained his decision to let a China-based firm build an electric vehicle battery plant. He said that the proposed…
SK Group Boss Blames U.S.-China Tensions For EV Battery Prices
South Korean billionaire Chey Tae-won said geopolitical tensions between the U.S. and China have kept prices for electric car batteries higher for longer as his conglomerate looks to reduce its reliance on the world’s second-largest economy. “Due to the geopolitics…
BMW Says EU Subsidy Probe Into China-made EVs Could Do More Harm Than Good
The European Union’s investigation into subsidies for China-made electric vehicles (EV) exported to Europe could do more harm than good, BMW’s chief financial officer said on Friday, warning of a potentially big backlash from Beijing. Walter Mertl said he did…
BYD Inches Closer to Global EV Dominance As Tesla Sales Dip
Tesla is not done cutting prices in order to remain competitive in the cutthroat Chinese EV market as it just lowered the Model Y tag by the equivalent of US$1,900 there, and continued a Model 3 insurance incentive for next…
Significant Growth in India’s Electric Vehicle Export Market
The export market for electric vehicles (EVs) in India has experienced significant growth, increasing by 246.3% in the first seven months of 2023. This surge in exports, from Rs 7,988.62 lakhs in 2022 to Rs 21,391.40 lakhs in 2023, can…
Decrease in Chinese Demand For Electric Vehicles Impacts Lithium Stocks
Shares of lithium stocks are experiencing a downward trend as concerns arise regarding a decrease in Chinese demand for electric vehicles. The price of lithium has been steadily decreasing since the latter part of last year, and this decline has…
