Etiqueta: Xiaomi

Themed

Xpeng had 2,700 insurance registrations last week, Li Auto 7,060, Zeekr 5,000 and Xiaomi 1,670.

With 117 new models debuting, the show highlights the trend towards electrification and digital connectivity. Major players like Xiaomi are entering the car market, while others are innovating with user-friendly designs and off-road capabilities.

THE BEIJING Auto Show 2024 highlighted China’s success in electric vehicle production and promotion, underscoring the state’s unwavering commitment to ...

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.

Despite overcapacity, government officials keep supporting automakers, unleashing “new productive forces” and adding to trade tensions.