Chinese EV maker BYD has unveiled the Shark mid-size hybrid-electric pickup truck in Mexico, marking the first time that the company has launched a new product outside its home country. The firm's Chief of Americas, Stella Li said that Mexico was chosen because of the rapid growth in demand for pickup trucks in the country. The pickup truck strengthens the EV maker's foothold in the North American market posing a rivalry to the likes of Ford, General Motors and Toyota.&nbsp;

Exterior and Interior highlights:

BYD Shark features a full-width LED light bar in the front with a large BYD logo mounted on the radiator grille. Thanks to the Black cladding around, the pickup truck gives off-roading vibes. On the inside, there is a 12.8-inch rotating infotainment screen which is complemented by a 10.25-inch digital gauge cluster. Features like 12-inch heads-up display, wireless Apple CarPlay and Android Auto connectivity and bidirectional charging are offered on the vehicle.

Platform highlights:

In terms of dimensions, BYD Shark measures 214 inches long, 77.5 inches wide and 75.5 inches tall with a wheelbase of 128.3 inches. The pickup truck's maximum towing and payload capacities are 5,511 pounds and 1,840 pounds, respectively. BYD Shark rides on a body-on-frame platform, which the company calls DMO. DM stands for Dual Mode (hybrid) and O stands for off-road.

Engine highlights:

Shark's plug-in hybrid system houses the 1.5-liter turbo engine with two electric motors, one on each axle, delivering a combines power of 430 hp. The pickup truck can do 0-62 miles per hour in 5.7 seconds. The vehicle makes use of BYD's renowned in-house blade battery technology.&nbsp;

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US hikes EV tariffs:

The Shark unveil comes hours after US President Joe Biden announced increase in tariffs on Chinese imports over unfair competitive practices, leading to import duties on Chinese products quadrupling to over 100%. However, BYD's regional chief dismissed that these tariffs affect the company by saying that it is not eyeing the US market.&nbsp;

Li, in an interview to Reuters, stated that BYD plans to build a manufacturing plant in Mexico. "We don't have plans to go to the U.S. market, so this announcement does not impact us at all. When we build a Mexican plant, we only consider the Mexican market and other countries' markets, we have not considered the US," she added.

BYD eyeing EV plant in Mexico:

Li informed that the company has already shortlisted potential sites for building BYD's plant in Mexico and that the facility will be centrally-located in the Latin American country. She added that a "deeper dialogue" was needed to make the final decision and that could happen by the end of the year. BYD's Mexican plant is expected to have a capacity of 150,000 vehicles per year and could take up to two to three years to be operational.&nbsp;

Chinese automakers have been growing their presence in Mexico since 2017 as one of 10 cars sold in Mexico last year was from a Chinese automaker. MG Motors, a unit of SAIC dominated nearly half the Mexican market in the mentioned time period.&nbsp;

However, US Trade Representative Katherine Tai later said that the country is also weighing tariffs on imports from Mexico. Last month, Mexico's federal government too came under pressure from the US to keep Chinese automakers away by refusing to offer incentives such as low-cost public land or tax cuts for investment in EV production.

 
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Chinese EV maker BYD has unveiled the Shark mid-size hybrid-electric pickup truck in Mexico, marking the first time that the company has launched a new product outside its home country.

Chinese EV maker BYD has unveiled the Shark mid-size hybrid-electric pickup truck in Mexico, marking the first time that the company has launched a new product outside its home country. The firm's Chief of Americas, Stella Li said that Mexico was chosen because of the rapid growth in demand for pickup trucks in the country. The pickup truck strengthens the EV maker's foothold in the North American market posing a rivalry to the likes of Ford, General Motors and Toyota. Exterior and Interior highlights: BYD Shark features a full-width LED light bar in the front with a large BYD logo mounted on the radiator grille. Thanks to the Black cladding around, the pickup truck gives off-roading vibes. On the inside, there is a 12.8-inch rotating infotainment screen which is complemented by a 10.25-inch digital gauge cluster. Features like 12-inch heads-up display, wireless Apple CarPlay and Android Auto connectivity and bidirectional charging are offered on the vehicle. Platform highlights: In terms of dimensions, BYD Shark measures 214 inches long, 77.5 inches wide and 75.5 inches tall with a wheelbase of 128.3 inches. The pickup truck's maximum towing and payload capacities are 5,511 pounds and 1,840 pounds, respectively. BYD Shark rides on a body-on-frame platform, which the company calls DMO. DM stands for Dual Mode (hybrid) and O stands for off-road. Engine highlights: Shark's plug-in hybrid system houses the 1.5-liter turbo engine with two electric motors, one on each axle, delivering a combines power of 430 hp. The pickup truck can do 0-62 miles per hour in 5.7 seconds. The vehicle makes use of BYD's renowned in-house blade battery technology. Also Read: Surge in global prices stalls China’s imports of Russian aluminium US hikes EV tariffs: The Shark unveil comes hours after US President Joe Biden announced increase in tariffs on Chinese imports over unfair competitive practices, leading to import duties on Chinese products quadrupling to over 100%. However, BYD's regional chief dismissed that these tariffs affect the company by saying that it is not eyeing the US market. Li, in an interview to Reuters, stated that BYD plans to build a manufacturing plant in Mexico. "We don't have plans to go to the U.S. market, so this announcement does not impact us at all. When we build a Mexican plant, we only consider the Mexican market and other countries' markets, we have not considered the US," she added. BYD eyeing EV plant in Mexico: Li informed that the company has already shortlisted potential sites for building BYD's plant in Mexico and that the facility will be centrally-located in the Latin American country. She added that a "deeper dialogue" was needed to make the final decision and that could happen by the end of the year. BYD's Mexican plant is expected to have a capacity of 150,000 vehicles per year and could take up to two to three years to be operational. Chinese automakers have been growing their presence in Mexico since 2017 as one of 10 cars sold in Mexico last year was from a Chinese automaker. MG Motors, a unit of SAIC dominated nearly half the Mexican market in the mentioned time period. However, US Trade Representative Katherine Tai later said that the country is also weighing tariffs on imports from Mexico. Last month, Mexico's federal government too came under pressure from the US to keep Chinese automakers away by refusing to offer incentives such as low-cost public land or tax cuts for investment in EV production.

BYD Shark hybrid pickup launched in Mexico as US hikes EV tariffs

Chinese electric vehicle maker BYD has issued a recall for 16,666 Seagull electric vehicles produced between April and May 2023. Some of the vehicles have issues with camera driver software which could lead the reversing screen display to fail. This can consequently affect the driver's field of vision and increase the probability of accidents, as per China's market regulator.&nbsp;

The auto giant will start fixing the software from May 20 onwards to reduce the chances of accidents due to this issue. The rectification will be done free of cost and by the means of over-the-air (OTA) technology.&nbsp;

BYD Seagull first went on sale in China in April 2023, when it had a starting price of RMB 73,800 (USD 10,200). It is one of the least expensive models sold by the company and also one of the highest-selling. It is sold as the Dolphin Mini in some overseas markets.

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The compact pure electric car borrows an ocean-inspired aesthetic and is full of dynamic color schemes and lines. It boasts a streamlined body with smooth curves and elegant stance. On the inside, it comes with an intelligent cockpit system and a 10.1-inch adaptive rotating screen, which offers smart voice control, karaoke, Apple CarPlay and Android Auto, among other features.&nbsp;

Based on the in-house e-Platform 3.0, the Seagull benefits from an ultra- safe body structure alongside its exceptional intelligent driving experience. The vehicle comes equipped with the company's blade battery technology, offering a range of up to 380 kilometres under NEDC conditions. The vehicle can be charged from 30% to 80% in just 30 minutes with DC fast charging.

In a separate development, BYD unveiled its latest premium offering, the Denza Z9GT sedan, at the Beijing auto show. The model is based on the company's e3 technology and its powertrain houses three electric motors with peak power of 230 kW, 240 kW, and 240 kW respectively. The model churns out a combined power output of up to 1,000 hp. After the unveil at the auto show, BYD will hold another technology launch event for the car in May, and later launch it officially at the end of the year.

 
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Chinese electric vehicle maker BYD has issued a recall for 16,666 Seagull electric vehicles produced between April and May 2023. Some of the vehicles have issues with camera driver software which could lead the reversing screen display to fail.

Chinese electric vehicle maker BYD has issued a recall for 16,666 Seagull electric vehicles produced between April and May 2023. Some of the vehicles have issues with camera driver software which could lead the reversing screen display to fail. This can consequently affect the driver's field of vision and increase the probability of accidents, as per China's market regulator. The auto giant will start fixing the software from May 20 onwards to reduce the chances of accidents due to this issue. The rectification will be done free of cost and by the means of over-the-air (OTA) technology. BYD Seagull first went on sale in China in April 2023, when it had a starting price of RMB 73,800 (USD 10,200). It is one of the least expensive models sold by the company and also one of the highest-selling. It is sold as the Dolphin Mini in some overseas markets. Also Read: Tesla shakes up staff amid revenue decline The compact pure electric car borrows an ocean-inspired aesthetic and is full of dynamic color schemes and lines. It boasts a streamlined body with smooth curves and elegant stance. On the inside, it comes with an intelligent cockpit system and a 10.1-inch adaptive rotating screen, which offers smart voice control, karaoke, Apple CarPlay and Android Auto, among other features. Based on the in-house e-Platform 3.0, the Seagull benefits from an ultra- safe body structure alongside its exceptional intelligent driving experience. The vehicle comes equipped with the company's blade battery technology, offering a range of up to 380 kilometres under NEDC conditions. The vehicle can be charged from 30% to 80% in just 30 minutes with DC fast charging. In a separate development, BYD unveiled its latest premium offering, the Denza Z9GT sedan, at the Beijing auto show. The model is based on the company's e3 technology and its powertrain houses three electric motors with peak power of 230 kW, 240 kW, and 240 kW respectively. The model churns out a combined power output of up to 1,000 hp. After the unveil at the auto show, BYD will hold another technology launch event for the car in May, and later launch it officially at the end of the year.

BYD to recall over 16,000 Seagull EVs in China over faulty software

Chinese electric vehicle (EV) manufacturer BYD is set to debut its upscale brand, Denza, at the Beijing auto show, indicating a bold foray into the luxury EV market. <o:p></o:p>

According to Reuters, the launch of the Denza Z9GT sedan challenges established players like Mercedes-Benz in an attempt to redefine luxury for the EV generation. <o:p></o:p>

Despite Mercedes-Benz's withdrawal from a 10-year-old premium EV venture, BYD remains resolute towards Denza's development, positioning itself as a formidable contender in the market.<o:p></o:p>

Denza's flagship offering, the Z9GT sedan, represents a departure from traditional luxury branding, highlighting technological prowess over brand heritage. <o:p></o:p>

"In the past, traditional luxury brands were defined by their logos. Today, luxury for new energy brands are defined by technology," Reuters quoted Denza General Manager Zhao Changjiang as saying. <o:p></o:p>

The launch of the Z9GT indicates BYD's shift towards innovation-driven luxury, challenging industry norms and expectations.<o:p></o:p>

Although the market remains competitive &nbsp;with the possibility of market saturation, Denza's entry into the luxury segment indicates BYD's ambition to diversify its product portfolio and capture a broader market share. <o:p></o:p>

With a line-up comprising SUVs and multipurpose vehicles, Denza has emerged as a major contributor to BYD's dominance in the EV market, outpacing legacy foreign automakers in sales volume. <o:p></o:p>

The expansion into the luxury segment comes as BYD attempts to realise its primary goal of establishing a global automotive presence, pushing back its reputation as a budget automaker.<o:p></o:p>

The premiumisation strategy is integral to BYD's broader objective of enhancing profitability amidst intensifying price competition and margin pressures. <o:p></o:p>

Denza's D9 model, renowned for its profitability, highlights the potential for premium offerings to bolster BYD's financial performance. <o:p></o:p>

Despite the inherent challenges posed by competition, Denza remains optimistic about its growth, leveraging advanced technology and design innovations to differentiate itself in the luxury EV market. <o:p></o:p>

Denza's premium vehicles set it apart with cutting-edge features and design elements, including Nappa leather seats, crystal-embedded gear sticks, and proprietary technology such as active suspension systems. <o:p></o:p>

Led by industry veteran Wolfgang Josef Egger, Denza's design ethos combines luxury aesthetics with functional enhancements, offering consumers an alternative to established luxury brands at competitive price points. <o:p></o:p>

By prioritising technological innovation and cost-effectiveness, Denza aims to redefine luxury for a new era of automotive enthusiasts.<o:p></o:p>

While Denza's upscale offerings have garnered acclaim for their advanced features and competitive pricing, the brand has faced challenges in penetrating the market and achieving sustained sales growth. <o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Chinese electric vehicle (EV) manufacturer BYD is set to debut its upscale brand, Denza, at the Beijing auto show, indicating a bold foray into the luxury EV market.

Chinese electric vehicle (EV) manufacturer BYD is set to debut its upscale brand, Denza, at the Beijing auto show, indicating a bold foray into the luxury EV market. According to Reuters, the launch of the Denza Z9GT sedan challenges established players like Mercedes-Benz in an attempt to redefine luxury for the EV generation. Despite Mercedes-Benz's withdrawal from a 10-year-old premium EV venture, BYD remains resolute towards Denza's development, positioning itself as a formidable contender in the market. Denza's flagship offering, the Z9GT sedan, represents a departure from traditional luxury branding, highlighting technological prowess over brand heritage. "In the past, traditional luxury brands were defined by their logos. Today, luxury for new energy brands are defined by technology," Reuters quoted Denza General Manager Zhao Changjiang as saying. The launch of the Z9GT indicates BYD's shift towards innovation-driven luxury, challenging industry norms and expectations. Although the market remains competitive with the possibility of market saturation, Denza's entry into the luxury segment indicates BYD's ambition to diversify its product portfolio and capture a broader market share. With a line-up comprising SUVs and multipurpose vehicles, Denza has emerged as a major contributor to BYD's dominance in the EV market, outpacing legacy foreign automakers in sales volume. The expansion into the luxury segment comes as BYD attempts to realise its primary goal of establishing a global automotive presence, pushing back its reputation as a budget automaker. The premiumisation strategy is integral to BYD's broader objective of enhancing profitability amidst intensifying price competition and margin pressures. Denza's D9 model, renowned for its profitability, highlights the potential for premium offerings to bolster BYD's financial performance. Despite the inherent challenges posed by competition, Denza remains optimistic about its growth, leveraging advanced technology and design innovations to differentiate itself in the luxury EV market. Denza's premium vehicles set it apart with cutting-edge features and design elements, including Nappa leather seats, crystal-embedded gear sticks, and proprietary technology such as active suspension systems. Led by industry veteran Wolfgang Josef Egger, Denza's design ethos combines luxury aesthetics with functional enhancements, offering consumers an alternative to established luxury brands at competitive price points. By prioritising technological innovation and cost-effectiveness, Denza aims to redefine luxury for a new era of automotive enthusiasts. While Denza's upscale offerings have garnered acclaim for their advanced features and competitive pricing, the brand has faced challenges in penetrating the market and achieving sustained sales growth. (With inputs from Reuters)

BYD unveils Denza Z9GT, elevating China's EV luxury segment

China's Commerce Minister, Wang Wentao, commenced his European tour with a major meeting involving leading Chinese electric vehicle (EV) manufacturers BYD and CATL. <o:p></o:p>

The assembly, held in Paris, marked the initiation of discussions ahead of the ongoing European Commission inquiry probing potential unfair advantages stemming from subsidies within China's EV industry.<o:p></o:p>

Wang's meeting with representatives from over ten enterprises, including Geely, indicated China's stance on EV development. <o:p></o:p>

Contrary to accusations of undue subsidies aiding Chinese companies, Wang said that innovation, strong supply chains, and fair market competition drive the sector's growth, not state aid. <o:p></o:p>

He assured firms of Beijing's active support in safeguarding their lawful interests.<o:p></o:p>

The discussions, as revealed by sources briefed on Wang's agenda, centre on the European Commission's investigation initiated late last year. <o:p></o:p>

Aimed at assessing if tariffs are necessary to protect European automakers from Chinese competition, the inquiry is an indication of China's lead in affordable EV models. <o:p></o:p>

The investigation is expected to conclude by November, with provisional duties possibly imposed earlier. <o:p></o:p>

Wang's itinerary also included a meeting with Renault's CEO and the acting chairman of the European Automobile Manufacturers' Association, Luca de Meo, demonstrating the broad scope of engagements during his visit. <o:p></o:p>

Additionally, he had planned to convene with executives from the cosmetics industry. <o:p></o:p>

As Wang navigates diplomatic and economic engagements in Europe, attention shifts to the broader context of global concerns regarding China's industrial capacity. <o:p></o:p>

US Treasury Secretary Janet Yellen, concurrently in China, voiced apprehensions about the adverse effects of China's industrial competition with international markets. <o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

China's Commerce Minister, Wang Wentao, commenced his European tour with a major meeting involving leading Chinese electric vehicle (EV) manufacturers BYD and CATL.

China's Commerce Minister, Wang Wentao, commenced his European tour with a major meeting involving leading Chinese electric vehicle (EV) manufacturers BYD and CATL. The assembly, held in Paris, marked the initiation of discussions ahead of the ongoing European Commission inquiry probing potential unfair advantages stemming from subsidies within China's EV industry. Wang's meeting with representatives from over ten enterprises, including Geely, indicated China's stance on EV development. Contrary to accusations of undue subsidies aiding Chinese companies, Wang said that innovation, strong supply chains, and fair market competition drive the sector's growth, not state aid. He assured firms of Beijing's active support in safeguarding their lawful interests. The discussions, as revealed by sources briefed on Wang's agenda, centre on the European Commission's investigation initiated late last year. Aimed at assessing if tariffs are necessary to protect European automakers from Chinese competition, the inquiry is an indication of China's lead in affordable EV models. The investigation is expected to conclude by November, with provisional duties possibly imposed earlier. Wang's itinerary also included a meeting with Renault's CEO and the acting chairman of the European Automobile Manufacturers' Association, Luca de Meo, demonstrating the broad scope of engagements during his visit. Additionally, he had planned to convene with executives from the cosmetics industry. As Wang navigates diplomatic and economic engagements in Europe, attention shifts to the broader context of global concerns regarding China's industrial capacity. US Treasury Secretary Janet Yellen, concurrently in China, voiced apprehensions about the adverse effects of China's industrial competition with international markets. (With inputs from Reuters)

China’s commerce minister leads delegation for EV firms amid EU probe

Nev maker BYD posted its slowest profit growth in two years. The electric vehicle giant reported an 18.6% rise in profit for the October-december quarter, its slowest since the first three months of 2022.

Survey shows inflation worry at a five month-high

Tech giant Nvidia on Monday announced its plans to strengthen partnerships with Chinese automakers, including BYD, as they endeavour to develop self-driving vehicles and AI-infused infotainment systems to compete globally.

BYD, which surpassed Tesla last year to become the world's largest electric vehicle manufacturer, is set to leverage Nvidia's upcoming generation of in-vehicle chips, known as Drive Thor, to enhance autonomous driving capabilities and other digital features.

Nvidia Vice President for Automotive, Danny Shapiro, highlighted BYD's adoption of Drive Thor during a conference call, stating that it will be integrated into BYD vehicles starting next year.

The collaboration aims to propel BYD's technological advancements across manufacturing processes, supply chain management, and the creation of virtual showrooms.

Several Chinese automakers, including BYD, Xpeng, and GAC Aion's Hyper brand, revealed expanded partnerships with Nvidia on Monday at the chipmaker's GTC developer conference in San Jose, California.

Additionally, Zeekr, a subsidiary of Geely, and Li Auto had previously announced their intention to utilise Nvidia's Drive Thor technology.

These collaborations highlights Chinese automakers' pursuit of cutting-edge technology to bolster their global competitiveness, particularly as they aim to expand sales beyond China's borders and vie with established Western brands like Tesla in domestic markets.

Nvidia's Danny Shapiro emphasised the eagerness of Chinese automakers to innovate and capitalise on favorable regulations to advance autonomous driving capabilities.

Nvidia also disclosed new collaborations in the automotive and industrial sectors during Monday's announcements. The company partnered with US software firm Cerence to adapt large language model artificial intelligence systems for in-car computing.

Furthermore, Nvidia is collaborating with Chinese computer manufacturer Lenovo on large language model deployment.

Soundhound, a subsidiary of Nvidia, is set to utilise the company's technology to develop an in-vehicle voice command system, allowing vehicle owners to access information from a virtual owner's manual through speech commands.

Notably, Nvidia did not explicitly mention specific AI developers, such as OpenAI, in its discussions.

(With inputs from Reuters)

Tech giant Nvidia on Monday announced its plans to strengthen partnerships with Chinese automakers, including BYD, as they endeavour to develop self-driving vehicles and AI-infused infotainment systems to compete globally.

Tech giant Nvidia on Monday announced its plans to strengthen partnerships with Chinese automakers, including BYD, as they endeavour to develop self-driving vehicles and AI-infused infotainment systems to compete globally. BYD, which surpassed Tesla last year to become the world's largest electric vehicle manufacturer, is set to leverage Nvidia's upcoming generation of in-vehicle chips, known as Drive Thor, to enhance autonomous driving capabilities and other digital features. Nvidia Vice President for Automotive, Danny Shapiro, highlighted BYD's adoption of Drive Thor during a conference call, stating that it will be integrated into BYD vehicles starting next year. The collaboration aims to propel BYD's technological advancements across manufacturing processes, supply chain management, and the creation of virtual showrooms. Several Chinese automakers, including BYD, Xpeng, and GAC Aion's Hyper brand, revealed expanded partnerships with Nvidia on Monday at the chipmaker's GTC developer conference in San Jose, California. Additionally, Zeekr, a subsidiary of Geely, and Li Auto had previously announced their intention to utilise Nvidia's Drive Thor technology. These collaborations highlights Chinese automakers' pursuit of cutting-edge technology to bolster their global competitiveness, particularly as they aim to expand sales beyond China's borders and vie with established Western brands like Tesla in domestic markets. Nvidia's Danny Shapiro emphasised the eagerness of Chinese automakers to innovate and capitalise on favorable regulations to advance autonomous driving capabilities. Nvidia also disclosed new collaborations in the automotive and industrial sectors during Monday's announcements. The company partnered with US software firm Cerence to adapt large language model artificial intelligence systems for in-car computing. Furthermore, Nvidia is collaborating with Chinese computer manufacturer Lenovo on large language model deployment. Soundhound, a subsidiary of Nvidia, is set to utilise the company's technology to develop an in-vehicle voice command system, allowing vehicle owners to access information from a virtual owner's manual through speech commands. Notably, Nvidia did not explicitly mention specific AI developers, such as OpenAI, in its discussions. (With inputs from Reuters)

Nvidia expands collaborations with Chinese automakers

Chinese automakers, led by BYD, are making significant strides in the Australian electric vehicle (EV) market, capitalising on favourable conditions including government incentives and a growing demand for environmentally friendly transportation.

The Australian government, under Prime Minister Anthony Albanese, has actively promoted EV adoption as part of its emissions reduction efforts, resulting in a surge in EV sales.

According to data from the Federal Chamber of Automotive Industries, EVs accounted for 7.2 per cent of new car sales in Australia in 2023, up from 3.1 per cent the previous year.

David Smitherman, chief executive at BYD's distributor in Australia, highlighted the growing opportunity in the EV market, stating, "We need to now get into the mainstream market because we've sold to the early adopters and the passionate EV purchasers."

BYD plans to expand its product lineup in Australia by introducing two SUVs and a pickup truck, aiming to further penetrate the market.

Additionally, the company is focusing on fleet sales to companies like Uber and plans to open more dealerships to accommodate increasing demand.

Chinese state-owned SAIC Motor is also set to expand its presence in Australia with the launch of three new models under its MG brand, including plug-in hybrids and electric roadsters.

This move reflects the broader trend of Chinese automakers investing in the Australian market, drawn by its absence of protectionist trade barriers and the government's support for EV adoption.

Despite tensions in other markets regarding Chinese EV makers' access to state subsidies and cybersecurity concerns, the Australian government has not expressed similar apprehensions.

In response to the growing competition, incumbent automakers like Ford and Toyota are also ramping up their efforts in the EV space.

Ford has plans to introduce more electrified vehicles to the Australian market, while Toyota recently launched its first electric car alongside its existing hybrid lineup.

However, the emergence of Chinese EV manufacturers poses a significant challenge to traditional automakers, particularly those heavily reliant on gasoline-engine vehicles.

The Australian government has implemented various measures to incentivise EV adoption, including tax exemptions for EV purchases and generous rebates on state levels.

These incentives have encouraged consumers like Mark Adamson and Peter Alley to switch to electric vehicles.

Adamson, who received significant discounts on his BYD Atto 3 SUV through government rebates and manufacturer discounts, expressed his motivation: "I figured why not give it a go? It's sort of really worth doing."

Alley, on the other hand, highlighted the cost-saving benefits of EV ownership, particularly in the face of rising gasoline prices.

BYD begins construction on EV manufacturing plant in Brazil

Meanwhile, BYD confirmed on Wednesday that it is going to begin construction of a manufacturing facility in Brazil.

This complex is slated to become operational either by the end of 2024 or in early 2025.

With an initial estimated annual production capacity of 150,000 units, the facility will focus on manufacturing models such as the Dolphin hatchback, Dolphin Mini, Song Plus SUV, and Yuan Plus crossover during its first phase.

(With inputs from Reuters)

Chinese automakers, led by BYD, are making significant strides in the Australian electric vehicle (EV) market, capitalising on favourable conditions including government incentives and a growing demand for environmentally friendly transportation.

Chinese automakers, led by BYD, are making significant strides in the Australian electric vehicle (EV) market, capitalising on favourable conditions including government incentives and a growing demand for environmentally friendly transportation. The Australian government, under Prime Minister Anthony Albanese, has actively promoted EV adoption as part of its emissions reduction efforts, resulting in a surge in EV sales. According to data from the Federal Chamber of Automotive Industries, EVs accounted for 7.2 per cent of new car sales in Australia in 2023, up from 3.1 per cent the previous year. David Smitherman, chief executive at BYD's distributor in Australia, highlighted the growing opportunity in the EV market, stating, "We need to now get into the mainstream market because we've sold to the early adopters and the passionate EV purchasers." BYD plans to expand its product lineup in Australia by introducing two SUVs and a pickup truck, aiming to further penetrate the market. Additionally, the company is focusing on fleet sales to companies like Uber and plans to open more dealerships to accommodate increasing demand. Chinese state-owned SAIC Motor is also set to expand its presence in Australia with the launch of three new models under its MG brand, including plug-in hybrids and electric roadsters. This move reflects the broader trend of Chinese automakers investing in the Australian market, drawn by its absence of protectionist trade barriers and the government's support for EV adoption. Despite tensions in other markets regarding Chinese EV makers' access to state subsidies and cybersecurity concerns, the Australian government has not expressed similar apprehensions. In response to the growing competition, incumbent automakers like Ford and Toyota are also ramping up their efforts in the EV space. Ford has plans to introduce more electrified vehicles to the Australian market, while Toyota recently launched its first electric car alongside its existing hybrid lineup. However, the emergence of Chinese EV manufacturers poses a significant challenge to traditional automakers, particularly those heavily reliant on gasoline-engine vehicles. The Australian government has implemented various measures to incentivise EV adoption, including tax exemptions for EV purchases and generous rebates on state levels. These incentives have encouraged consumers like Mark Adamson and Peter Alley to switch to electric vehicles. Adamson, who received significant discounts on his BYD Atto 3 SUV through government rebates and manufacturer discounts, expressed his motivation: "I figured why not give it a go? It's sort of really worth doing." Alley, on the other hand, highlighted the cost-saving benefits of EV ownership, particularly in the face of rising gasoline prices. BYD begins construction on EV manufacturing plant in Brazil Meanwhile, BYD confirmed on Wednesday that it is going to begin construction of a manufacturing facility in Brazil. This complex is slated to become operational either by the end of 2024 or in early 2025. With an initial estimated annual production capacity of 150,000 units, the facility will focus on manufacturing models such as the Dolphin hatchback, Dolphin Mini, Song Plus SUV, and Yuan Plus crossover during its first phase. (With inputs from Reuters)

Chinese automakers pave the way to Australia's EV market

China's leading electric vehicle (EV) manufacturer, BYD, has unveiled a new iteration of its popular car model amid a fierce price competition within the world's largest automobile market. 
 
The company has introduced the latest version at a price even lower than its discontinued predecessor, reflecting the intensifying battle for market share. 
 
The new Yuan Plus crossover, known as the Atto 3 in international markets, is offered with a starting price of $16,644, marking an 11.8 per cent decrease compared to the final sales price of its predecessor. 
 
This cost-effective strategy shows BYD's commitment to keeping a competitive advantage in the quickly changing EV market. 
 
The company's commitment to affordability aligns with the broader trend observed in the Chinese EV market, where manufacturers are striving to offer compelling value propositions to consumers. 
 
In 2023, BYD witnessed success with its Yuan Plus EV, recording sales figures of 412,202 units, a substantial portion of which were exported. 
 
According to data from the China Association of Automobile Manufacturers, approximately 42 per cent of BYD's total car exports for the year comprised the Yuan Plus model. 
BYD's international pricing strategy further accentuates its emphasis on maximising profit margins in foreign markets. 
 
For instance, the Atto 3 commands a starting price of $31,336 in Australia, representing an 85 per cent premium over its price in China. 
 
(With inputs from Reuters)

China's leading electric vehicle (EV) manufacturer, BYD, has unveiled a new iteration of its popular car model amid a fierce price competition within the world's largest automobile market.

China's leading electric vehicle (EV) manufacturer, BYD, has unveiled a new iteration of its popular car model amid a fierce price competition within the world's largest automobile market. The company has introduced the latest version at a price even lower than its discontinued predecessor, reflecting the intensifying battle for market share. The new Yuan Plus crossover, known as the Atto 3 in international markets, is offered with a starting price of $16,644, marking an 11.8 per cent decrease compared to the final sales price of its predecessor. This cost-effective strategy shows BYD's commitment to keeping a competitive advantage in the quickly changing EV market. The company's commitment to affordability aligns with the broader trend observed in the Chinese EV market, where manufacturers are striving to offer compelling value propositions to consumers. In 2023, BYD witnessed success with its Yuan Plus EV, recording sales figures of 412,202 units, a substantial portion of which were exported. According to data from the China Association of Automobile Manufacturers, approximately 42 per cent of BYD's total car exports for the year comprised the Yuan Plus model. BYD's international pricing strategy further accentuates its emphasis on maximising profit margins in foreign markets. For instance, the Atto 3 commands a starting price of $31,336 in Australia, representing an 85 per cent premium over its price in China. (With inputs from Reuters)

BYD launches new EV model with aggressive pricing amid market competition

Electric vehicle giant BYD is predicting a record-breaking year in 2023, with net profit expected to surge by up to 86%. This projection comes amid fierce competition, including its notable rival, Tesla, which reported a 19.4% growth in net profit.

BYD eyes record 2023 profits

Saudi Arabia's bold endeavour to transform into an electric vehicle (EV) hub, fuelled by billions in investments, faces formidable challenges. Despite significant financial commitments, hurdles such as infrastructure gaps, talent shortages, and the lack of a robust local industry persist. Reuters reports that the kingdom's ambitious goal to produce 500,000 EVs annually by 2030 encounters scepticism and competition from established global players.

Investments and partnerships

Saudi Crown Prince Mohammed bin Salman's vision to diversify the economy led to a $10 billion investment in Lucid Motors, the creation of the domestic brand Ceer, and the establishment of an EV metals plant. The Public Investment Fund (PIF) aims for substantial EV production, targeting 500,000 units by 2030. However, the kingdom's sole auto factory, operational since September 2023, has only assembled around 800 vehicles.

Historical challenges &amp; current initiatives

Saudi Arabia's past attempts to attract automotive manufacturing faced setbacks. Toyota declined a deal in 2019, citing high labour costs, a lack of local suppliers, and a small market. The current push encounters similar obstacles, with analysts highlighting the need for local industry to supply auto components.

Ceer, a joint venture between PIF and Foxconn, plans to launch a car by 2025, but scepticism persists regarding achieving high production numbers. Hyundai's joint venture with PIF, alongside Lucid and Ceer, aims to create an automotive cluster in Jeddah. However, analysts doubt these efforts will sufficiently attract original equipment manufacturers to localise production.

China's dominance in the EV supply chain and production poses a significant challenge. BYD, surpassing Tesla as the world's largest EV maker, exemplifies China's prowess. The Inflation Reduction Act in the United States could channel significant investment into EV manufacturing, intensifying global competition.

Challenges in localisation &amp; sustainability

Attracting producers of auto components remains a major hurdle due to the lack of a significant local industry. Ceer's plan to source components, including batteries, from Germany's BMW raises questions about achieving true localisation. Lucid's strategy to keep its supply chain in the U.S. might limit the expansion of local manufacturing.

Saudi Arabia, keen to enhance its sustainability credentials, showcased Lucid cars prominently at state conferences. The government committed to purchasing up to 100,000 Lucid vehicles over the next decade. Lucid's tie-up with the PIF is seen as a strategic relationship, emphasising the broader goal of developing the automotive ecosystem in the kingdom.

Raw material challenges

To become a centre for EV battery manufacturing, Saudi Arabia needs raw materials, notably lithium. Despite ambitions to produce lithium locally, reserves are yet to be announced. Efforts to extract lithium from saltwater are in the pilot stage, prompting the need for external sourcing.

Despite the hurdles, international industry executives acknowledge Saudi Arabia's financial strength, backed by the PIF. While money can solve challenges, the scale of investment required may surpass initial expectations.

Bottomline

Ambitious investments, partnerships, and sustainability goals mark Saudi Arabia's pursuit of becoming an EV manufacturing hub. However, overcoming historical challenges, intense global competition, and the need for a robust local industry present formidable obstacles. The kingdom's success hinges on effectively navigating these challenges by leveraging its financial prowess.

Saudi Arabia's bold endeavour to transform into an electric vehicle (EV) hub, fuelled by billions in investments, faces formidable challenges. Despite significant financial commitments, hurdles such as infrastructure gaps, talent shortages, and the lack of a robust local industry persist.

Saudi Arabia's bold endeavour to transform into an electric vehicle (EV) hub, fuelled by billions in investments, faces formidable challenges. Despite significant financial commitments, hurdles such as infrastructure gaps, talent shortages, and the lack of a robust local industry persist. Reuters reports that the kingdom's ambitious goal to produce 500,000 EVs annually by 2030 encounters scepticism and competition from established global players. Investments and partnerships Saudi Crown Prince Mohammed bin Salman's vision to diversify the economy led to a $10 billion investment in Lucid Motors, the creation of the domestic brand Ceer, and the establishment of an EV metals plant. The Public Investment Fund (PIF) aims for substantial EV production, targeting 500,000 units by 2030. However, the kingdom's sole auto factory, operational since September 2023, has only assembled around 800 vehicles. Historical challenges & current initiatives Saudi Arabia's past attempts to attract automotive manufacturing faced setbacks. Toyota declined a deal in 2019, citing high labour costs, a lack of local suppliers, and a small market. The current push encounters similar obstacles, with analysts highlighting the need for local industry to supply auto components. Ceer, a joint venture between PIF and Foxconn, plans to launch a car by 2025, but scepticism persists regarding achieving high production numbers. Hyundai's joint venture with PIF, alongside Lucid and Ceer, aims to create an automotive cluster in Jeddah. However, analysts doubt these efforts will sufficiently attract original equipment manufacturers to localise production. China's dominance in the EV supply chain and production poses a significant challenge. BYD, surpassing Tesla as the world's largest EV maker, exemplifies China's prowess. The Inflation Reduction Act in the United States could channel significant investment into EV manufacturing, intensifying global competition. Challenges in localisation & sustainability Attracting producers of auto components remains a major hurdle due to the lack of a significant local industry. Ceer's plan to source components, including batteries, from Germany's BMW raises questions about achieving true localisation. Lucid's strategy to keep its supply chain in the U.S. might limit the expansion of local manufacturing. Saudi Arabia, keen to enhance its sustainability credentials, showcased Lucid cars prominently at state conferences. The government committed to purchasing up to 100,000 Lucid vehicles over the next decade. Lucid's tie-up with the PIF is seen as a strategic relationship, emphasising the broader goal of developing the automotive ecosystem in the kingdom. Raw material challenges To become a centre for EV battery manufacturing, Saudi Arabia needs raw materials, notably lithium. Despite ambitions to produce lithium locally, reserves are yet to be announced. Efforts to extract lithium from saltwater are in the pilot stage, prompting the need for external sourcing. Despite the hurdles, international industry executives acknowledge Saudi Arabia's financial strength, backed by the PIF. While money can solve challenges, the scale of investment required may surpass initial expectations. Bottomline Ambitious investments, partnerships, and sustainability goals mark Saudi Arabia's pursuit of becoming an EV manufacturing hub. However, overcoming historical challenges, intense global competition, and the need for a robust local industry present formidable obstacles. The kingdom's success hinges on effectively navigating these challenges by leveraging its financial prowess.

Saudi Arabia's billion-dollar gamble: Can it transform into an Electric Vehicle powerhouse?

Chinese electric car giant BYD has engaged in talks with Brazilian lithium producer Sigma Lithium to obtain materials for Electric Vehicle (EV) manufacturing, the Financial Times reported.

The report cited Alexandre Baldy, BYD’s chair in Brazil, who revealed discussions about potential collaboration, be it through a supply agreement, joint venture, or acquisition.

Baldy emphasised the active nature of the dialogue with Sigma, a company valued at $2.9 billion, as BYD aims to solidify its position as the world's largest EV manufacturer.

BYD, backed by Warren Buffett's Berkshire Hathaway, recently surpassed Tesla in EV production and is investing $620 million in building its first electric car factory outside Asia in Brazil.

BYD's pursuit of an integrated supply chain in Brazil was highlighted by Alexandre Baldy in a statement to the Financial Times where he conveyed that various possibilities were under consideration, encompassing discussions about supply, potential joint ventures, and even the prospect of an acquisition.

However, he emphasised that, at the moment, none of these options had materialised into concrete plans.

The company is strategically positioning itself to secure a consistent and reliable lithium supply, a crucial element for EV batteries.

Baldy disclosed that BYD representatives met with Sigma’s CEO, Ana Cabral Gardner, in São Paulo last month, highlighting an evolving relationship that, for now, remains shrouded in confidentiality.

This potential move aligns with BYD's broader international expansion plans, including establishing an EV factory in Hungary and exploring opportunities in Mexico.

However, BYD's ambitions have not escaped scrutiny, as global concerns rise over China's quest for technological dominance and control over critical resources for clean tech industries.

With the Biden administration looking to reduce Chinese manufacturing in the US and Europe investigating China's EV industry for alleged unfair competition, BYD's strategic moves are under close observation on the international stage.

Sigma Lithium, despite posting a net loss of C$25.5 million in the first nine months of 2023, is a key player in Brazil's lithium market. Amid a sharp decline in lithium prices causing a drop in shares, Sigma's board is conducting a strategic review, contemplating a potential sale of the business or listing its Brazilian unit on Nasdaq and the Singapore Stock Exchange.

Notably, Volkswagen and Chinese battery maker CATL have been mentioned as potential bidders, but both companies have refrained from confirming or denying their involvement.

Chinese electric car giant BYD has engaged in talks with Brazilian lithium producer Sigma Lithium to obtain materials for Electric Vehicle (EV) manufacturing, the Financial Times reported.

Chinese electric car giant BYD has engaged in talks with Brazilian lithium producer Sigma Lithium to obtain materials for Electric Vehicle (EV) manufacturing, the Financial Times reported. The report cited Alexandre Baldy, BYD’s chair in Brazil, who revealed discussions about potential collaboration, be it through a supply agreement, joint venture, or acquisition. Baldy emphasised the active nature of the dialogue with Sigma, a company valued at $2.9 billion, as BYD aims to solidify its position as the world's largest EV manufacturer. BYD, backed by Warren Buffett's Berkshire Hathaway, recently surpassed Tesla in EV production and is investing $620 million in building its first electric car factory outside Asia in Brazil. BYD's pursuit of an integrated supply chain in Brazil was highlighted by Alexandre Baldy in a statement to the Financial Times where he conveyed that various possibilities were under consideration, encompassing discussions about supply, potential joint ventures, and even the prospect of an acquisition. However, he emphasised that, at the moment, none of these options had materialised into concrete plans. The company is strategically positioning itself to secure a consistent and reliable lithium supply, a crucial element for EV batteries. Baldy disclosed that BYD representatives met with Sigma’s CEO, Ana Cabral Gardner, in São Paulo last month, highlighting an evolving relationship that, for now, remains shrouded in confidentiality. This potential move aligns with BYD's broader international expansion plans, including establishing an EV factory in Hungary and exploring opportunities in Mexico. However, BYD's ambitions have not escaped scrutiny, as global concerns rise over China's quest for technological dominance and control over critical resources for clean tech industries. With the Biden administration looking to reduce Chinese manufacturing in the US and Europe investigating China's EV industry for alleged unfair competition, BYD's strategic moves are under close observation on the international stage. Sigma Lithium, despite posting a net loss of C$25.5 million in the first nine months of 2023, is a key player in Brazil's lithium market. Amid a sharp decline in lithium prices causing a drop in shares, Sigma's board is conducting a strategic review, contemplating a potential sale of the business or listing its Brazilian unit on Nasdaq and the Singapore Stock Exchange. Notably, Volkswagen and Chinese battery maker CATL have been mentioned as potential bidders, but both companies have refrained from confirming or denying their involvement.

China's BYD Initiates talks with Sigma Lithium for EV materials: Financial Times report

In the ever-accelerating race for EV dominance, a new victor has emerged. China's BYD co. Has claimed the pole position as the world's most popular EV maker, outpacing the renowned Tesla. However, the electrifying battle for supremacy is far from over, with several twists and turns still ahead. Can tesla regain its title?

BYD expected to sell more EVs than Tesla

BYD is now world's most popular EV. BYD sold more units than Tesla in December quarter. Watch the video to get more insights!

BYD now holds crown as most popular EV maker

The race to ace the the electric market market has heated up. BYD has edged past Tesla in the fourth quarter - but only narrowly. Tesla delivered a recorded number of electric vehicles in the October December quarter. It delivered nearly 495,000 vehicles, but fell short of BYD's total of 526,409 cars. The car sales indicate that buyers are choosing cheaper models amid high interest rates.

BYD pips Tesla in quarterly sales

Chinese company BYD is poised to dethrone Tesla as the world's top-selling electric vehicle (EV) manufacturer, reporting stellar fourth-quarter sales, according to&nbsp; Financial Times report.&nbsp;BYD's record 526,000 battery-only vehicles sold in the quarter, especially a December surge, present a formidable challenge to Tesla's supremacy.

<h2>BYD's milestone quarter</h2>

BYD, emblematic of China's prowess in clean technology, achieved a historic milestone by selling 526,000 battery-only vehicles in Q4, marking a more than 70 per cent&nbsp;increase in December sales. The surge positions BYD as a formidable contender to overtake Tesla as the leading EV manufacturer.

Tesla must surpass analyst expectations and deliver a robust fourth quarter to maintain its status as the largest seller of pure electric vehicles. Estimates project Tesla's Q4 sales around 483,000 vehicles, with official production figures awaited on Tuesday (Jan 2).

<a href="https://www.wionews.com/india-news/elon-musks-tesla-to-set-up-first-indian-manufacturing-plant-in-gujarat-674748">Also read |&nbsp;Elon Musk's Tesla to set up first Indian manufacturing plant in Gujarat: Report</a>

At the end of Q3, BYD and Tesla each held a 17 per cent global market share for fully electric cars. While BYD outpaced Tesla in Q2 by including plug-in hybrid vehicles in the "new energy vehicles" category, it now presents a significant challenge to Tesla in the pure electric vehicle segment.

BYD has secured a 35 per cent market share in China's "new energy vehicles" segment, primarily on home turf. Despite expanding into international markets, the group's stronghold in China remains a key driver of its success.

Founded in the mid-1990s by Wang Chuanfu, BYD initially focused on rechargeable batteries before venturing into the automotive industry. With Warren Buffett's Berkshire Hathaway as a shareholder, BYD has evolved into a leader in EV technology, emphasising cost-efficiency and vertical integration.

Also watch |&nbsp;Tesla robot malfunctions, brutally attacks engineer

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/tesla-robot-malfunctions-brutally-attacks-engineer-674093/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

As BYD and Tesla engage in fierce competition, the broader industry shift towards cleaner vehicles has adversely affected traditional automakers slow to adapt. BYD's emphasis on innovation and cost-effective production processes positions it as a significant player in the evolving automotive landscape.

(With inputs from agencies)

Chinese company BYD is poised to dethrone Tesla as the world's top-selling electric vehicle (EV) manufacturer, reporting stellar fourth-quarter sales, according to Financial Times report.

Chinese company BYD is poised to dethrone Tesla as the world's top-selling electric vehicle (EV) manufacturer, reporting stellar fourth-quarter sales, according to Financial Times report. BYD's record 526,000 battery-only vehicles sold in the quarter, especially a December surge, present a formidable challenge to Tesla's supremacy. BYD's milestone quarter BYD, emblematic of China's prowess in clean technology, achieved a historic milestone by selling 526,000 battery-only vehicles in Q4, marking a more than 70 per cent increase in December sales. The surge positions BYD as a formidable contender to overtake Tesla as the leading EV manufacturer. Tesla must surpass analyst expectations and deliver a robust fourth quarter to maintain its status as the largest seller of pure electric vehicles. Estimates project Tesla's Q4 sales around 483,000 vehicles, with official production figures awaited on Tuesday (Jan 2). Also read | Elon Musk's Tesla to set up first Indian manufacturing plant in Gujarat: Report At the end of Q3, BYD and Tesla each held a 17 per cent global market share for fully electric cars. While BYD outpaced Tesla in Q2 by including plug-in hybrid vehicles in the "new energy vehicles" category, it now presents a significant challenge to Tesla in the pure electric vehicle segment. BYD has secured a 35 per cent market share in China's "new energy vehicles" segment, primarily on home turf. Despite expanding into international markets, the group's stronghold in China remains a key driver of its success. Founded in the mid-1990s by Wang Chuanfu, BYD initially focused on rechargeable batteries before venturing into the automotive industry. With Warren Buffett's Berkshire Hathaway as a shareholder, BYD has evolved into a leader in EV technology, emphasising cost-efficiency and vertical integration. Also watch | Tesla robot malfunctions, brutally attacks engineer As BYD and Tesla engage in fierce competition, the broader industry shift towards cleaner vehicles has adversely affected traditional automakers slow to adapt. BYD's emphasis on innovation and cost-effective production processes positions it as a significant player in the evolving automotive landscape. (With inputs from agencies)

Chinese firm BYD nears overtaking Tesla as world's leading electric vehicle manufacturer

Chinese EV maker BYD is challenging tesla at the EV game. BYD posted record sales in the December quarter and sold about 3 million vehicles in 2023, an increase of 61.9%.

Tesla battles with BYD for the most popular EV-maker title

U.S. electric vehicle (EV) giant Tesla faced a 10.9 per cent year-on-year decrease in sales volume for its China-made EVs in September, according to data from the China Passenger Car Association (CPCA) released on Sunday. This decline in sales comes as Chinese rival BYD sees impressive growth in passenger vehicle deliveries, underscoring the competitive landscape in the Chinese EV market.

Tesla sold 74,073 China-made EVs in September, reflecting a notable dip compared to the same month last year. Sales of China-made Model 3 and Model Y cars specifically saw a 12.0 per cent decrease from the previous month.

In contrast, BYD, known for its Dynasty and Ocean series of EVs and petrol-electric hybrid models, experienced a surge in passenger vehicle deliveries, growing by 42.8 per cent to reach 286,903 in September, up from 200,973 in the same month last year.

Both Tesla and its Chinese competitors are now preparing for a potential rebound in consumer sentiment. This optimism is fuelled by more significant discounts and tax incentives for green vehicles, combined with signs of economic stabilisation in China.

Tesla recently missed market estimates for its third-quarter global deliveries due to planned upgrades at its factories, which temporarily halted production. The automaker typically focuses on domestic deliveries at the end of each quarter while shipping more China-made cars for export at the beginning.

In a bid to entice consumers, Tesla unveiled a revamped Model 3 in September, sporting a starting price of 259,900 yuan in China, representing a 12 per cent increase from its previous version. Deliveries are set to commence in the fourth quarter.

Meanwhile, Chinese competitor Xpeng introduced a redesigned G9 SUV with a price tag starting from 263,900 yuan, marking a 15 per cent reduction compared to its previous offering.

Tesla, renowned as the largest exporter of China-made EVs, is currently facing a European Commission probe into subsidies for battery-powered cars from China. This investigation includes other Chinese automakers like Renault.

Despite the recent sales decline, Tesla delivered a record 247,217 China-made vehicles in the second quarter, underscoring its continued significance in the global EV market.

(With inputs from Reuters)

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U.S. electric vehicle (EV) giant Tesla faced a 10.9 per cent year-on-year decrease in sales volume for its China-made EVs in September, according to data from the China Passenger Car Association (CPCA) released on Sunday.

U.S. electric vehicle (EV) giant Tesla faced a 10.9 per cent year-on-year decrease in sales volume for its China-made EVs in September, according to data from the China Passenger Car Association (CPCA) released on Sunday. This decline in sales comes as Chinese rival BYD sees impressive growth in passenger vehicle deliveries, underscoring the competitive landscape in the Chinese EV market. Tesla sold 74,073 China-made EVs in September, reflecting a notable dip compared to the same month last year. Sales of China-made Model 3 and Model Y cars specifically saw a 12.0 per cent decrease from the previous month. In contrast, BYD, known for its Dynasty and Ocean series of EVs and petrol-electric hybrid models, experienced a surge in passenger vehicle deliveries, growing by 42.8 per cent to reach 286,903 in September, up from 200,973 in the same month last year. Both Tesla and its Chinese competitors are now preparing for a potential rebound in consumer sentiment. This optimism is fuelled by more significant discounts and tax incentives for green vehicles, combined with signs of economic stabilisation in China. Tesla recently missed market estimates for its third-quarter global deliveries due to planned upgrades at its factories, which temporarily halted production. The automaker typically focuses on domestic deliveries at the end of each quarter while shipping more China-made cars for export at the beginning. In a bid to entice consumers, Tesla unveiled a revamped Model 3 in September, sporting a starting price of 259,900 yuan in China, representing a 12 per cent increase from its previous version. Deliveries are set to commence in the fourth quarter. Meanwhile, Chinese competitor Xpeng introduced a redesigned G9 SUV with a price tag starting from 263,900 yuan, marking a 15 per cent reduction compared to its previous offering. Tesla, renowned as the largest exporter of China-made EVs, is currently facing a European Commission probe into subsidies for battery-powered cars from China. This investigation includes other Chinese automakers like Renault. Despite the recent sales decline, Tesla delivered a record 247,217 China-made vehicles in the second quarter, underscoring its continued significance in the global EV market. (With inputs from Reuters) WATCH WION LIVE HERE

Tesla's China-made EV sales dip in September; BYD gains ground

A couple of days after India blocked Chinese automaker BYD's $1 billion bid to set up an electric vehicle (EV) factory in the country, Beijing's top diplomat has urged New Delhi to rethink the decision, adding that the two countries were not 'threats' to each other.

A couple of days after India blocked Chinese automaker BYD's $1 billion bid to set up an electric vehicle (EV) factory in the country, Beijing's top diplomat has urged New Delhi to rethink the decision, adding that the two countries were not 'threats' to each other. Wang Yi, whose position within the Communist party ranks above that of a foreign minister, met India's National Security Adviser (NSA) Ajit Doval and called for policies to “enhance strategic mutual trust” and “focus on consensus and cooperation”, according to a readout released by the Chinese foreign ministry. The meeting took place on the sidelines of a gathering of BRICS members in Johannesburg, South Africa on Monday (July 24). BRICS is a grouping of emerging economies Brazil, Russia, India, China and South Africa. "Whether China and India support or exhaust each other will directly affect the two countries' respective development processes and the global landscape," Wang reportedly told Doval, according to Chinese mouthpiece Global Times. Watch | India's EV market races to catch up | India's EV infrastructure: Roadblock for buyers × The top diplomat added that Beijing was not looking to follow the old world order of 'seeking hegemony'. "China will never tread the old path of seeking hegemony taken by some countries. It is willing to work together with a vast number of developing countries, including India, to support multilateralism and democratisation of international relations," Wang emphasised. "Wang Yi said that China and India should adhere to the strategic judgment that the two countries are not threats to each other but opportunities for each other's development," the publication noted. The Chinese leader added that both countries should put "relations back onto a track of healthy and stable development at an early date". What happened with BYD? Notably, last week, India rejected the Chinese EV giant's proposal to build EVs as well as electric batteries in the lucrative Indian market, in partnership with an Indian company Megha Engineering and Infrastructure Ltd., citing 'security concerns'. “Security concerns with respect to Chinese investments in India were flagged during the deliberations,” an Indian official was quoted as saying by Economic Times. Another official cited ‘existing guidelines’ to claim that such Chinese investments were not possible. Also read | India trashes Chinese EV maker BYD’s proposal to set up $1 billion plant Currently, BYD has plans to sell at least 15,000 units if EVs in the Indian market in 2023. Despite the rejection, the company plans to expand its distribution network in India and upgrade manufacturing capacity. (With inputs from agencies) WATCH WION LIVE HERE:

'We are not threats...': After India dumps BYD’s factory plans, Beijing urges New Delhi to rethink

In a major setback, India has rejected Chinese EV maker BYD's proposal to set up a 1 billion dollar plant. The EV maker had a proposed a joint venture with a Hyderabad-based company. Earlier this month, the BYD submitted a plan to the Indian Government, seeking permission to build EVS and car batteries with Megha Engineering & Infrastructure ltd. Reports suggest that security concerns over Chinese investments could be the reason behind India's blocking the deal.

India says no to BYD's investment | World Business Watch

The Narendra Modi government has trashed Chinese automaker BYD’s proposal to set up a $1 billion manufacturing plant in India, reported Economic Times on Saturday.

The Chinese EV giant had earlier submitted a proposal to build EVs as well as electric batteries in India in partnership with an Indian EV company Megha Engineering and Infrastructure Ltd.

<h2>Security reasons cited for rejection</h2>

The Chinese plan to manufacture EVs and batteries in India encountered “security concerns”, the report said. The company had initially planned to manufacture 15,000 electric cars in India annually.&nbsp;

“Security concerns with respect to Chinese investments in India were flagged during the deliberations,” an Indian official was quoted as saying by Economic Times. Another official cited ‘existing guidelines’ to claim that such Chinese investments were not possible.

<h2>BYD’s presence in India</h2>

Times Now reports BYD already has a significant presence in the Indian automobile market. In 2023, it aims to sell at least 15,000 units of EVs. Furthermore, it also revealed its plans to expand its distribution network in India and upgrade manufacturing capacity.

However, those plans seemingly stand dashed now as New Delhi seems adamant about keeping Chinese players away from India’s major sectors, including telecom, automobile and cyberspace.

<a href="https://www.wionews.com/world/tesla-shares-fall-as-elon-musk-backs-self-driving-cars-618064">Also read:&nbsp;Tesla shares fall as Elon Musk backs self-driving cars</a>

The report says BYD currently has a manufacturing facility operational in India’s southern state of Tamil Nadu, with a production capacity of 10,000 units per year.

<h2>India rolls out red carpet for Tesla</h2>

The move comes amidst ongoing discussions between the Indian government and US billionaire Elon Musk-owned Tesla for setting up a factory in the world’s most populous country.

Watch:&nbsp;Tesla's pricing strategy backfires?

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"Tesla has come to us with an ambitious plan, and we are confident that the movement will be positive this time around, especially as it involves both local manufacturing and exports," a Times of India report quoted an Indian official as saying.

<h2>India’s measures to stymie investments from China</h2>

India brought a policy in 2020 post Chinese hostilities in the Himalayas which effectively put restrictions on Foreign Direct Investments originating from China.&nbsp;

India mandated prior approval for investments from nations that share land borders with India, a policy touted as anti-China by experts.&nbsp;

In May this year, the Indian government introduced plans to crack down on Chinese companies seeking to bypass this rule using shell companies and availing subsidies that are generally denied to Chinese companies.

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The Narendra Modi government has trashed Chinese automaker BYD’s proposal to set up a $1 billion manufacturing plant in India, reported Economic Times on Saturday.

The Narendra Modi government has trashed Chinese automaker BYD’s proposal to set up a $1 billion manufacturing plant in India, reported Economic Times on Saturday. The Chinese EV giant had earlier submitted a proposal to build EVs as well as electric batteries in India in partnership with an Indian EV company Megha Engineering and Infrastructure Ltd. Security reasons cited for rejection The Chinese plan to manufacture EVs and batteries in India encountered “security concerns”, the report said. The company had initially planned to manufacture 15,000 electric cars in India annually. “Security concerns with respect to Chinese investments in India were flagged during the deliberations,” an Indian official was quoted as saying by Economic Times. Another official cited ‘existing guidelines’ to claim that such Chinese investments were not possible. BYD’s presence in India Times Now reports BYD already has a significant presence in the Indian automobile market. In 2023, it aims to sell at least 15,000 units of EVs. Furthermore, it also revealed its plans to expand its distribution network in India and upgrade manufacturing capacity. However, those plans seemingly stand dashed now as New Delhi seems adamant about keeping Chinese players away from India’s major sectors, including telecom, automobile and cyberspace. Also read: Tesla shares fall as Elon Musk backs self-driving cars The report says BYD currently has a manufacturing facility operational in India’s southern state of Tamil Nadu, with a production capacity of 10,000 units per year. India rolls out red carpet for Tesla The move comes amidst ongoing discussions between the Indian government and US billionaire Elon Musk-owned Tesla for setting up a factory in the world’s most populous country. Watch: Tesla's pricing strategy backfires? × "Tesla has come to us with an ambitious plan, and we are confident that the movement will be positive this time around, especially as it involves both local manufacturing and exports," a Times of India report quoted an Indian official as saying. India’s measures to stymie investments from China India brought a policy in 2020 post Chinese hostilities in the Himalayas which effectively put restrictions on Foreign Direct Investments originating from China. India mandated prior approval for investments from nations that share land borders with India, a policy touted as anti-China by experts. In May this year, the Indian government introduced plans to crack down on Chinese companies seeking to bypass this rule using shell companies and availing subsidies that are generally denied to Chinese companies. WATCH WION LIVE HERE ×

India trashes Chinese EV maker BYD’s proposal to set up $1 billion plant

Days after reports said Tesla was in talks with Indian authorities for setting up an EV Factory yet another electric vehicle maker has shown interest to set up its business in the country. Reuters sources say that China's BYD has submitted a one billion dollar proposal to build EVs and batteries in partnership with a local company.

Report: BYD intends to develop range of EVs in India

According to Reuters, the Chinese automotive giant Build Your Dreams (BYD) has made a $1 billion investment proposal to produce electric vehicles and batteries in India in collaboration with a local manufacturing firm.

BYD proposes $1 BN investment to set up EV plant :Reports

Once unrivalled in the EV space, Tesla is facing a budding rivalry with BYD. Chinese automaker BYD overtook Tesla as the world’s largest seller of electric vehicles in 2022.

Who is this Chinese automaker who overtook Tesla?

&nbsp;Amazon replaced Apple as the world's top firm based on market valuation. That's despite a 15 per cent drop in its stock, with the e-commerce giant valued at $299.3 billion, according to the Brand Finance Global 500 report.&nbsp;

Apple slipped to the second spot and is now worth $297.9 billion after a 16 per cent fall in its market value. Google occupies the third spot, with its market capitalisation at $281.4 billion. &nbsp;

While the gap between these firms is only a few billion, 2023 is expected to be a tough year for the tech giants, with costs cuts including massive layoffs amidst the threat of a global recession.&nbsp;

Amazon's net worth has dipped a little over $50 billion, with the lines blurring on a rebound amidst gloomy global economic expectations and people returning to shop in person.&nbsp;Amazon's brand value has risen 36 per cent since the pandemic, with the firm expanding into new business sectors.&nbsp;

But the consultancy report showed a fall in amazon's brand strength rating as easing covid-restrictions the world over has led to shoppers returning to physical stores, weighing on online retailers.&nbsp;

The study also showed customers are now less inclined to suggest amazon to others. their view of the company's customer service has taken a hit from longer wait for deliveries.&nbsp;

On the other hand, apple's drop to the second place was primarily because of the company's projection of lower revenue from disrupted global supply chains which have resulted in a shortage of raw materials and labour.&nbsp;

While Alphabet-owned Google's net worth made it the third most valued firm, it earned the crown of being the world's strongest brand, according to the report.&nbsp;

Chinese electric vehicle maker BYD Auto emerged as the fastest-growing brand.&nbsp; 
&nbsp;

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Amazon replaced Apple as the world's top firm based on market valuation. That's despite a 15 per cent drop in its stock, with the e-commerce giant valued at $299.

Amazon replaced Apple as the world's top firm based on market valuation. That's despite a 15 per cent drop in its stock, with the e-commerce giant valued at $299.3 billion, according to the Brand Finance Global 500 report. Apple slipped to the second spot and is now worth $297.9 billion after a 16 per cent fall in its market value. Google occupies the third spot, with its market capitalisation at $281.4 billion. While the gap between these firms is only a few billion, 2023 is expected to be a tough year for the tech giants, with costs cuts including massive layoffs amidst the threat of a global recession. Amazon's net worth has dipped a little over $50 billion, with the lines blurring on a rebound amidst gloomy global economic expectations and people returning to shop in person. Amazon's brand value has risen 36 per cent since the pandemic, with the firm expanding into new business sectors. But the consultancy report showed a fall in amazon's brand strength rating as easing covid-restrictions the world over has led to shoppers returning to physical stores, weighing on online retailers. The study also showed customers are now less inclined to suggest amazon to others. their view of the company's customer service has taken a hit from longer wait for deliveries. On the other hand, apple's drop to the second place was primarily because of the company's projection of lower revenue from disrupted global supply chains which have resulted in a shortage of raw materials and labour. While Alphabet-owned Google's net worth made it the third most valued firm, it earned the crown of being the world's strongest brand, according to the report. Chinese electric vehicle maker BYD Auto emerged as the fastest-growing brand. WATCH WION LIVE HERE:

Amazon replaces Apple as the top-valued firm 

After holding it for 14 years, Warren Buffett's Berkshire Hathaway is continuing to unwind its long position in BYD - which is China's largest homegrown EV-maker and Tesla's major rival.

World Business Watch: Warren Buffett further unwinds BYD investment

The billionaire Warren Buffet backed Chinese electric car maker BYD has made its entry into India with the launch of its first passenger car.

Warren Buffet-backed Chinese automaker BYD taps Indian market

Warren Buffet-backed Chinese electric carmaker BYD has forayed into the Indian automobile market with its passenger car—an electric sport-utility vehicle (SUV).

The Chinese car company unveiled its Atto 3 electric SUV, which is packed with its renowned Blade battery technology.

The company has opened the bookings for a token amount of Rs 50,000 (US $607) and the deliveries of the first five 50 units will begin in January 2023. The price of the SUV is yet to be announced.

Atto 3 will have an electric motor pushing out a peak power of 201bhp and 310Nm of torque. The model comes with a 60.49kWh battery pack promising a range of 420km on a single charge.&nbsp;The company claims that its SUV is capable to jump from 0 to 100kmph in 7.3 seconds.

It is expected to give tough competition to&nbsp;Tata Nexon EV, Mahindra XUV400, Maruti Suzuki Grand Vitara Hybrid, and Toyota Urban Cruiser Hybrid.

With the launch of its electric SUV, BYD aims to corner around 40 per cent of the electric car market in India by 2030.

BYD views India as one of the important markets for its global expansion plan, even as it has started selling EVs in markets around the world, including Norway, New Zealand, Singapore, Brazil, Costa Rica, and Colombia.

"India will be one of the key markets in BYD's global portfolio," Sanjay Gopalakrishnan, senior vice president of electric passenger vehicles at BYD India, told Reuters news agency.

However, India has been wary of Chinese investments in the recent past, and has tightened scrutiny of investments coming from bordering nations, especially China. Due to this,&nbsp;another Chinese carmaker, Great Wall Motor, had to shelve its $1 billion investment plan in India. &nbsp;

However, BYD has been upbeat about its future prospects and has even sent up a manufacturing plant in India, where the annual capacity is expected to go up to 15,000 units.&nbsp;Beyond that, Balakrishnan said, the company is "still exploring" what it needs to do.

(With inputs from agencies)

WATCH WION LIVE HERE: 

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Warren Buffet-backed Chinese electric carmaker BYD has forayed into the Indian automobile market with its passenger car—an electric sport-utility vehicle (SUV). The Chinese car company unveiled its Atto 3 electric SUV, which is packed with its renowned Blade battery technology.

Warren Buffet-backed Chinese electric carmaker BYD has forayed into the Indian automobile market with its passenger car—an electric sport-utility vehicle (SUV). The Chinese car company unveiled its Atto 3 electric SUV, which is packed with its renowned Blade battery technology. The company has opened the bookings for a token amount of Rs 50,000 (US $607) and the deliveries of the first five 50 units will begin in January 2023. The price of the SUV is yet to be announced. Atto 3 will have an electric motor pushing out a peak power of 201bhp and 310Nm of torque. The model comes with a 60.49kWh battery pack promising a range of 420km on a single charge. The company claims that its SUV is capable to jump from 0 to 100kmph in 7.3 seconds. It is expected to give tough competition to Tata Nexon EV, Mahindra XUV400, Maruti Suzuki Grand Vitara Hybrid, and Toyota Urban Cruiser Hybrid. With the launch of its electric SUV, BYD aims to corner around 40 per cent of the electric car market in India by 2030. BYD views India as one of the important markets for its global expansion plan, even as it has started selling EVs in markets around the world, including Norway, New Zealand, Singapore, Brazil, Costa Rica, and Colombia. "India will be one of the key markets in BYD's global portfolio," Sanjay Gopalakrishnan, senior vice president of electric passenger vehicles at BYD India, told Reuters news agency. However, India has been wary of Chinese investments in the recent past, and has tightened scrutiny of investments coming from bordering nations, especially China. Due to this, another Chinese carmaker, Great Wall Motor, had to shelve its $1 billion investment plan in India. However, BYD has been upbeat about its future prospects and has even sent up a manufacturing plant in India, where the annual capacity is expected to go up to 15,000 units. Beyond that, Balakrishnan said, the company is "still exploring" what it needs to do. (With inputs from agencies) WATCH WION LIVE HERE:

Warren Buffet-backed Chinese firm BYD debuts in India, starts booking of its new electric SUV

China's auto leading automaking&nbsp;company BYD has claimed that it operates the world's largest mask-making factory less than a month after starting production in response to the coronavirus pandemic.

''BYD has created the world's largest mass-produced face masks plant. The plant is now running at full capacity and is able to produce 5 million masks and 300,000 bottles of disinfectants per day,'' the company said in a press release.

Also read:&nbsp;<a href="https://www.wionews.com/world/the-new-gold-thieves-steal-thousands-of-surgical-masks-from-hospital-in-japan-281426">'The new gold': Thieves steal thousands of surgical masks from hospital in Japan</a>

The Shenzhen based Chinese company is further expanding its capacity.

It rallied more than 3,000 engineers and other employees to make protective equipment and meet the surge in global demand for face masks after the coronavirus outbreak.

Also read: <a href="https://www.wionews.com/world/hong-kong-political-rivals-are-wooing-voters-with-free-face-masks-286757">Hong Kong political rivals are wooing voters with free face masks</a>

It started to manufacture face masks from February 8, 2020.

The company is backed by American businessman Warren Buffet and Samsung Electronics as major investors and also makes batteries for electric vehicles.

In February, Apple's major supplier Foxconn also diverted part of its production line to make medical masks.

China is the world biggest mask producer and the COVID-19 outbreak has further catapulted the demand for masks, along with hand sanitizer.&nbsp;

China's auto leading automaking company BYD has claimed that it operates the world's largest mask-making factory less than a month after starting production in response to the coronavirus pandemic.

China's auto leading automaking company BYD has claimed that it operates the world's largest mask-making factory less than a month after starting production in response to the coronavirus pandemic. ''BYD has created the world's largest mass-produced face masks plant. The plant is now running at full capacity and is able to produce 5 million masks and 300,000 bottles of disinfectants per day,'' the company said in a press release. Also read: 'The new gold': Thieves steal thousands of surgical masks from hospital in Japan The Shenzhen based Chinese company is further expanding its capacity. It rallied more than 3,000 engineers and other employees to make protective equipment and meet the surge in global demand for face masks after the coronavirus outbreak. Also read: Hong Kong political rivals are wooing voters with free face masks It started to manufacture face masks from February 8, 2020. The company is backed by American businessman Warren Buffet and Samsung Electronics as major investors and also makes batteries for electric vehicles. In February, Apple's major supplier Foxconn also diverted part of its production line to make medical masks. China is the world biggest mask producer and the COVID-19 outbreak has further catapulted the demand for masks, along with hand sanitizer.

Chinese electronic vehicle manufacturer BYD becomes world's biggest face mask maker

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