Etiqueta: Tesla

Tesla CEO Elon Musk meets with Chinese Premier Li Qiang to discuss cooperation and competition in the electric vehicle market.

El mercado chino de coches eléctricos es cada vez más competitivo. Alrededor de 123 empresas automovilísticas venden coches eléctricos y amenazan a Tesla.

STORY: China's BYD posted its weakest quarterly profit growth since 2022 on Monday (April 29).Revenue growth also slowed to its lowest level in almost four years.The electric vehicle maker was hit by slowing demand and a price war in the world's largest auto market.First-quarter net profit was up around a tenth at just over $631 million, while revenue grew 4% to $17.25 billion.The quarterly results suggest BYD still pulled ahead of U.S. rival Tesla.Elon Musk's company recently reported its first quarterly revenue fall since 2020.BYD has ramped up efforts to move upmarket while doubling down on discounts.It aims to find cautious consumers amid a sputtering economic recovery.The push to sell to higher-end segments came alongside an intensified price war in China.It has led BYD to slash prices since February on the latest versions of its lineup by 5% to 20%.The auto giant is targeting an annual sales jump of a fifth this year.But, outside of big-hitters like Tesla, BYD is also under pressure from local EV upstarts betting big on an all-electric future.

Chinese brand admits it needs to educate Aussies about its plug-in hybrid tech; plays down potential EV buyer backlash

Chinese Premier Li Qiang told Musk that he hopes the US will work more with China on “win-win” cooperation, citing Tesla's operations in China as a successful example of economic cooperation

Un estudio elaborado por Rhodium señala que los aranceles de Europa deberían subir hasta el 50% para frenar la llegada de los coches chinos.

BYD, already the world’s largest EV producer, is moving into Brazil, further consolidating its conquest of EV markets in the Global South.

China's BYD shows effects of price war with weaker profit growth

BEIJING (Reuters) -Chinese electric vehicle (EV) maker BYD posted its weakest quarterly profit growth since 2022 on Monday while its revenue growth slowed to the lowest level in nearly four years, hit by slowing EV demand and a bruising price war in the world's largest auto market. First-quarter net profit was up 10.6% at 4.57 billion yuan ($631.08 million) while revenue grew by 4% to 124.94 billion yuan, BYD said in a stock market filing. With a brand portfolio at different price points, BYD has ramped up efforts to move upmarket while doubling down on discounts to vie for cautious consumers amid a sputtering economic recovery.