Etiqueta: SAIC

Major Chinese car manufacturers have pledged to make payments to suppliers within 60 days, responding to a recent outcry from steelmakers over long payment times as well as regulatory pressure as the backlash to a punishing price war grows.

China's major automakers and some new carmakers have pledged to shorten supplier payment terms amid concerns about supply chain security.

Chinese electric-vehicle makers led by BYD beat Tesla in the competition to produce affordable electric vehicles. Now, many of those same fierce competitors are pulling into the passing lane in the global race to produce self-driving cars.

AUSTIN, Texas (Reuters) -Chinese electric-vehicle makers led by BYD beat Tesla in the competition to produce affordable electric vehicles. BYD shook up China’s smart-EV industry earlier this year by offering its “God’s Eye” driver-assistance package for free, undercutting the technology Tesla sells for nearly $9,000 in China. “With God’s Eye, Tesla's strategy starts to fall apart,” said Shenzhen-based BYD investor Taylor Ogan, an American who has owned several Teslas and driven BYD cars with God’s Eye, which he called more capable than Tesla’s “Full Self-Driving” (FSD).

The Chinese government is getting involved in the wave of discounts for electric cars triggered by BYD. At a meeting organised by the Ministry of Industry and

El gobierno chino se está implicando en la oleada de descuentos para coches eléctricos impulsada por BYD. En una reunión organizada por el Ministerio de Industria y

Recently, the automotive industry has been in an uproar: Great Wall Motors' Chairman Wei Jianjun's statement "the Evergrande of the automotive industry already exists, it just hasn't exploded yet" instantly ignited public opinion. Although no names were mentioned, all eyes are on BYD, which has liabilities of 594.3 billion yuan. At the same time, BYD launched the largest price cut in history during the "618" shopping festival, with 22 models seeing discounts of up to 53,000 yuan, directly causing a major dip in the new energy vehicle sector. This move has made investors restless: on one hand, there's the overwhelming "Evergrande theory," and on the other, a fierce price war...

The automotive industry is undergoing a seismic shift as the electric vehicle revolution gains momentum. In China, a dramatic transformation is taking place, with more than half of all new car sales now electric. Local brands such as BYD have rapidly ascended the ranks, now holding third place among global automakers. In contrast, legacy brands tha...