China asks automakers to pause investment in EU countries that support EV tariffs, report says
Chinese automakers, including BYD, SAIC and Geely, were told at a meeting on October 10 that they should suspend plans for heavy-asset investments such as setting up factories in countries that support the EV tariffs, according to Reuters.
BYD posts record Q3 net income, notably outperforms Tesla on revenue
In dollar terms, BYD posted revenue of $28.2 billion in the third quarter, significantly outpacing Tesla's $25.18 billion, after being essentially tied in the fourth quarter of 2023.
Nio's Middle East backer CYVN to buy sports car maker McLaren's auto business
CYVN reached a non-binding agreement to acquire 100 percent of McLaren's automotive business from Bahrain's sovereign wealth fund Mumtalakat.
China Oct EV sales preview: Deutsche Bank expects Nio at 24,500, Tesla 47,000, BYD 520,000
New order flow for the Nio brand is estimated at about 19,000 units in October, flat from September, but sub-brand Onvo is estimated at about 15,000 units in October, according to Deutsche Bank.
Yangwang U7 sedan said to be powered by BYD's 2nd-gen blade battery
The Yangwang U7 will be powered by BYD's second-generation blade battery, which will have a charging multiplier of more than 5.5 C and a discharging multiplier of more than 14 C, according to an auto blogger.
EU pushes ahead with additional tariffs on Chinese EVs, continues discussions on price undertakings
The European Commission has published the definitive tariff rates in the Official Journal, with the additional tariffs to take effect from October 30, and the provisional duties imposed on July 4 will not be collected.
Xiaomi SU7 Ultra starts pre-sales at $114,200, official launch set for Mar 2025
The Xiaomi SU7 Ultra received 3,680 pre-orders 10 minutes after pre-sales began, as the company begins to show off its technological muscle in the EV space.
Zeekr signs deal to tap Egyptian market, expanding footprint to Africa
Zeekr plans to launch the Zeekr 001 and the Zeekr X first in Egypt, with the first local store to open in Cairo by the end of this year.
Xpeng to report Q3 2024 earnings on Nov 19
During the third quarter, Xpeng delivered 46,533 vehicles, exceeding the upper end of its guidance range of 41,000 to 45,000 units.
China asks central government units to take lead in adopting local NEVs
The central government and state institutions and their subsidiaries should take the lead in using homegrown NEVs when equipping and upgrading their official vehicles, according to an announcement.