A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai) Vcg | Visual China Group | Getty Images Shares of Chinese electric car makers have started the new year in reverse gear, as intense competition and continuing price wars pressure … Read more
U.S. electric vehicle giant Tesla has long been an investor darling, but its Chinese rival BYD is increasingly coming into its own. Last week, data from both companies showed BYD dethroned Tesla in the fourth quarter as the top EV maker globally, and also surpassed Tesla’s production for a second straight year in 2023. BYD … Read more
If there’s anything about BYD ‘s past that could predict its future, it’s being slow and steady. The nearly 30-year-old company may have beat Tesla in total car production in 2023 , but it still only has one tenth the market value. Last year, Tesla’s shares roughly doubled in price. BYD’s rose by about 10%. … Read more
Chinese electric vehicle company Xpeng told CNBC on Friday that its newly launched X9 model could be a “game changer” for the industry. Xpeng launched the X9 large 7-seater EV on Jan. 1, a car built on its SEPA2.0 architecture for the Chinese market. The X9 series are priced between 359,800 yuan to 419,800 yuan (about $50,360 … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on January 3, 2024, in New York City. Angela Weiss | AFP | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need … Read more
BYD’s new luxury brand Yangwang is selling its first model, the U8, for more than 1 million yuan (US$160,000). CNBC | Evelyn Cheng BEIJING — BYD has overtaken Tesla again by the sheer number of new energy vehicles produced in 2023, thanks in part to the Chinese automaker’s hybrids and wide range of offerings in … Read more
BYD launched the BYD Seal in Europe at the IAA auto show in Munich, Germany. The electric sedan has a starting price of 44,900 euros ($48,479). Arjun Kharpal | CNBC BEIJING — BYD said Monday it produced more than 3 million new energy vehicles in 2023, putting the Chinese electric car giant on track to … Read more
YANTAI, CHINA – SEPTEMBER 8, 2023 – Students conduct an industrial robot training at Yantai Cultural and Tourism Vocational College in Yantai, East China’s Shandong province, Sept 8, 2023. At present, China has built the largest vocational education system in the world, and the middle and higher vocational schools train about 10 million high-quality technical … Read more
BYD’s Han electric car, pictured here at the 2021 Shanghai auto show, is one of the most popular new energy vehicles in China. Evelyn Cheng | CNBC BEIJING — Tesla cut prices for its electric cars in China by more than BYD did for its flagship Han sedan, according to analysis Wednesday from U.S.-based firm … Read more
Volkswagen’s ID.7 is set for release in Europe and China in the fall of 2023, and in North America in 2024. CNBC | Evelyn Cheng BEIJING — Chinese brands are taking the lead in the country’s rapid shift to new energy vehicles, putting Volkswagen on track for its smallest year of China sales since 2012, … Read more
