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☆ Analysis: China’s EV market reshaped by a brutal elimination round
▼ + stars: | 2024-04-24 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —A “life and death race” has begun to unfold in the world’s largest market for electric vehicles (EV). More than a dozen passenger carmakers disappeared from the market last year, according to statistics from the China Passenger Car Association. Too many playersOvercrowding is another major issue plaguing China’s EV industry. Last month, Xiaomi, a Chinese smartphone brand, launched its electric car, the SU7 sedan. “China’s EV industry has entered a stage of cyclical adjustment after two decades of growth,” he said at a forum in Beijing.

Persons: ”, Tesla, Mark Rainford, Richard Yu, Li Auto, “ They’re, Huawei’s Aito, Lei Jun, BYD, Rainford, Gan Jiayue, Wang Chuanfu, Yin Tongyue Organizations: Hong Kong CNN, Auto China, YouTube, China, “, National Development, Reform Commission, China Passenger Car Association, WM, Mitsubishi Motors, Honda, Hyundai, Ford, Huawei, EV, China Association of Auto Manufacturers, China’s EV, Li, Tesla, Porsche, Geely Auto, Meizu, Chery Auto, International Energy Agency Locations: China, Hong Kong, Beijing, Shanghai, oversupply, Meizu

☆ Huawei is pushing its tech into the EV world with new cars, automaker partnerships
▼ + stars: | 2023-11-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Changan and Huawei are already partners for the Avatr electric car brand, created in 2018 with electric car battery giant Contemporary Amperex Technology . Huawei is also working with Chery on the Luxeed electric car brand, which revealed details for its S7 sedan on Tuesday. BAIC, whose Arcfox electric brand already uses Huawei tech, and JAC did not immediately respond to a request for comment. Tencent , which operates China's social media app WeChat, has claimed it supplies BMW and some other automakers with car tech. Selling a suite of car tech products called "Huawei Inside," while the automaker designs the vehicle.

Persons: JAC, Richard Yu, BAIC, Tu Le, It's, Huawei's Yu Organizations: Getty, Nurphoto, Huawei, Changan Automobile, Technology, Chery, BAIC, BMW Locations: SHANGHAI, CHINA, Shanghai, China, BEIJING, Beijing, U.S

Main auto partner Chongqing Changan Automobile (000625.SZ) and relevant parties will own up to 40% of the new firm, a Changan Auto statement showed on Sunday. Neither Changan Auto nor Huawei disclosed financial details. Changan Auto referred Reuters to its Sunday statement and declined to comment further. Huawei has partnerships with other auto companies, including Seres Group (601127.SS) and Jianghuai Automobile (600418.SS), as well as with Changan Auto involving EV brands Avatr and Deepal. The proposed deal will also smooth the way for the business' listing, as Huawei had planned, said two of the people.

Persons: Ren Zhengfei, Ren, Richard Yu, Julie Zhu, Zhuzhu Cui, David Kirton, Brenda Goh, Christopher Cushing Organizations: Huawei Technologies, Changan Auto, Bosch, Chongqing Changan Automobile, Huawei, Auto, China Ordnance Equipment Group, China South Industries, FAW Group, Dongfeng Motor, HK, Reuters, Seres, Jianghuai, Changan, EV, Thomson Locations: HONG KONG, SHANGHAI, Chongqing, China, Changan, Shanghai

☆ Huawei launches its rival to Tesla’s Model S
▼ + stars: | 2023-11-10 | by ( Diksha Madhok | Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong/Beijing CNN —Huawei has launched a new electric vehicle (EV) that is designed to take on Elon Musk’s Tesla. The Chinese tech giant began taking preorders of the Luxeed S7, its first sedan, on Thursday. The S7’s 800-volt battery pack, the thinnest in the industry according to Yu, is made by Chinese EV battery giant CATL. A 15-minute charge will yield a driving range of 400 kilometers (249 miles), according to Yu, which surpasses the 347-kilometer range (about 216 miles) for Tesla’s Model S after a similar charging period. However, at the equivalent of $35,400, the S7 is much cheaper than the most basic Model S, which costs 698,900 yuan or $95,800 in China.

Persons: Elon Musk’s Tesla, Richard Yu, Mark Rainford, ”, ” Rainford, Yu, Rainford, Tesla, they’re Organizations: Beijing CNN, Huawei, Elon, Chery, YouTube, China, CNN, EV, Automotive Locations: China, Hong Kong, Beijing, Shenzhen, Shanghai

☆ China's Huawei reports modest revenue growth for first three quarters
▼ + stars: | 2023-10-27 | by ( David Kirton | ) www.reuters.com time to read: +2 min

Huawei posted revenues of 456.6 billion yuan ($62.4 billion)for the first three quarters of the year, up 2.4% from a year earlier. In contrast to the modest rise in revenue, profit rose 177.8% in the period to 73.05 billion yuan, according to Reuters calculations. For the third quarter, revenue rose 1.5% to 145.7 billion yuan, according to Reuters calculations. Counterpoint said Huawei ranked as the sixth-largest smartphone brand in China during the quarter with a share of 12.9%, up from 9.1% from the same period a year ago. However, the Huawei spokesperson attributed the third-quarter revenue growth to increases in the digital power, cloud and auto parts businesses, while the Mate 60 series was released relatively late in the quarter.

Persons: Ken Hu, Richard Yu, Huawei's, David Kirton, Christian Schmollinger, Simon Cameron, Moore Organizations: Huawei Technologies, Huawei, Research, U.S, Huawei's Smart, Thomson Locations: SHENZHEN, China

☆ Huawei's revenue barely rose in the third quarter, despite phone and car sales growth
▼ + stars: | 2023-10-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

That's despite the company's release of a popular new smartphone in late August and growing sales within its electric car venture. watch nowMore than 1.6 million Mate 60 series devices were sold during the first six weeks of sales, according to Counterpoint Research. The research firm estimated that the majority, about 75%, of units sold were Pro models — that's about 1.2 million units sold. The U.S. company saw smartphone sales fall by 10% in the third quarter from a year ago, while Huawei's sales surged by 37%, Counterpoint Research said Thursday. The company sells its operating system and components, such as for driver-assist tech, to car manufacturers.

Persons: Richard Yu, Aito Organizations: Huawei, Bloomberg, Getty, CNBC, 5G, Research, Apple, Aito's Locations: Nanjing, Shanghai, China, BEIJING, U.S

☆ Huawei-backed Aito says gets 50,000 orders for M7 car since relaunch
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

SHENZHEN, China, Oct 9 (Reuters) - Huawei-backed electric vehicle (EV) brand Aito has received more than 50,000 orders for its revamped M7 model within the first 25 days since it went on sale, the company said. The orders, which required a non-refundable deposit, would put Aito among China's five top-selling new energy vehicle manufacturers, based on sales data for August. The Aito brand, which Huawei makes in partnership with Seres Group (601127.SS), launched the M7 in July last year. As of June, Aito had shipped just 27,405 of the original M7, according to data from the China Association of Automobile Manufacturers. Huawei's intelligent automotive solution business brought in one billion yuan revenue in the first half of this year, a tiny fraction of the 310.9 billion yuan ($42.63 billion) its total business earned over that period, the company said in August.

Persons: Richard Yu, Huawei's, Aito, Yu, David Kirton, Brenda Goh, Zoey Zhang, Edmund Klamann Organizations: Huawei, Huawei's Smart, Weibo, Seres, China Association of Automobile Manufacturers, Chery, Thomson Locations: SHENZHEN, China, Shenzhen, Shanghai

☆ Huawei stays silent on secretive 5G phone at high-profile product launch
▼ + stars: | 2023-09-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — Chinese telecommunications and smartphone giant Huawei didn't reveal any details about its new phone or reported advanced chip breakthrough during a high-profile launch event Monday. The product releases were part of Huawei's fall season launch event, which was livestreamed Monday afternoon in Mandarin. watch nowStill, many viewers, especially on the Bilibili video platform, left comments asking for details about the phone. It also included a short speech by Hong Kong celebrity Andy Lau around Huawei's launch of a luxury watch design. Huawei's silence on its new phone comes as Apple 's iPhone 15 started deliveries in China on Friday.

Persons: Richard Yu, Yu, —, Hong, Andy Lau Organizations: Huawei, Nurphoto, Getty, Kirin, bluetooth, Apple Locations: Shanghai, China, BEIJING, Huawei's, Hong Kong

The launch event became the most discussed topic on Chinese social network Weibo, racking up six billion views and 1.6 million posts. Huawei quietly started selling the Mate 60 Pro in August, without a formal launch event or sharing full technical specifications. The company “knows everyone wants to know more about the chip [in the Mate 60 Pro], so them not talking about it is almost like defiance,” he said. Its share of the Chinese market rose from 6.9% to 11.3% over that period. The Shenzhen-based company has seen a recent “surge in sales” for its Mate 60 series, with weekly sales almost tripling to 225,000 units, according to Counterpoint.

Persons: Richard Yu, Tesla, ” trended, “, ”, Yu, Andy Lau, Ben Sin, Andrea Verdelli, Ivan Lam, Lam, Tesla Yu, ” Yu Organizations: Hong Kong CNN, Huawei, United, Weibo, Bloomberg, Research, Tesla’s Locations: China, Hong Kong, United States, Washington, Weibo, Beijing, Shenzhen

☆ China's Huawei reports small revenue bump on back of core businesses
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

A visitor checks a mobile phone near the Huawei logo during the Mobile World Congress in Shanghai, China June 28, 2023. REUTERS/Nicoco Chan/File PhotoSHENZHEN, China, Aug 11 (Reuters) - China's Huawei Technologies (HWT.UL) saw modest revenue growth in the first half of the year, with its core information and communications technology (ICT) infrastructure and consumer businesses generating the lion's share. Revenues rose to 310.9 billion yuan ($43.01 billion), up 3.1% on the same period a year earlier, the Shenzhen-based technology giant announced on Friday. Huawei's profit margin rose to 15%, with a net profit of 46.6 billion yuan, making, according to Reuters calculations, around a threefold improvement on a year earlier. "In the first half of 2023, our ICT infrastructure business remained solid and our consumer business achieved growth," said Meng Wanzhou, Huawei's rotating chairperson and the daughter of its founder, Ren Zhengfei.

Persons: Nicoco Chan, Meng Wanzhou, Ren Zhengfei, Richard Yu, David Kirton, Simon Cameron, Moore Organizations: Huawei, Mobile, Congress, REUTERS, Huawei Technologies, Reuters, Thomson Locations: Shanghai, China, SHENZHEN, Shenzhen, U.S

☆ China's Huawei's handset business making a comeback, executive says
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

A visitor checks a mobile phone near the Huawei logo during the Mobile World Congress in Shanghai, China June 28, 2023. Huawei's share of the domestic smartphone market share grew by 76.1% in the second quarter, and took second spot in the high-end sector, Yu said. The company held 11.3% of the overall China market in the second quarter, behind five competitors led by Vivo and Apple, according to Counterpoint Research. Several rounds of U.S. restrictions on U.S.-made technology limited Huawei to producing last-generation 4G handsets, causing its once sizeable handset market share to plummet both at home and abroad. Yu said Huawei's in-house Harmony operating system has "overcome many challenges" in the last four years, noting there were now 2.2 million developers for the system.

Persons: Nicoco Chan, Richard Yu, Huawei's, Yu, David Kirton, Jason Neely Organizations: Huawei, Mobile, Congress, REUTERS, Huawei Technologies, Vivo, Apple, Research, Harmony, Reuters, Thomson Locations: Shanghai, China, SHENZHEN, Dongguan, U.S

☆ China's Huawei partners with more automakers to produce Aito EVs
▼ + stars: | 2023-04-01 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, April 1 (Reuters) - China's Huawei Technologies (HWT.UL) is partnering with more legacy automakers to produce Aito-branded electric cars, the company's senior executive said on Saturday, in a move to expand its presence in the auto industry. Huawei will team up with Chery Automobile (CHERY.UL), BAIC Motor (1958.HK) and Anhui Jianghuai Automobile Group (600418.SS) in jointly developing and manufacturing Aito-branded vehicles, Richard Yu, Huawei's Smart Car CEO, said at the China EV 100 forum in Beijing. Huawei, which has already a partnership with Seres Group (601127.SS) to make Aito cars, plans a series of models including SUVs, sedans and multipurpose vehicles under the Aito brand, Yu added. Huawei has been hit by a series of export controls by Washington which says it is a security risk, which the company denies. The sanctions have also affected Huawei's partnerships with global automakers, who have given up using Huawei's vehicle connectivity technologies in the past two years, Yu said on Saturday.

☆ Huawei touts camera on latest premium smartphone without 5G
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +2 min

Huawei, also a major supplier of equipment used in 5G telecommunications networks, has been the target of successive rounds of U.S. export controls since 2019. The company's former budget unit Honor claimed 18% of the market last year, with 30% annual growth, Canalys said. Huawei sold Honor to a consortium of over 30 agents and dealers to keep it alive in late 2019. Huawei also launched the more premium P60 Pro and foldable Mate X3, with prices starting at 6,988 yuan and 12,999 yuan respectively. ($1 = 6.8230 Chinese yuan renminbi)Reporting by David Kirton; editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ China's flood of new electric cars cost 20% more to insure than fuel-powered cars
▼ + stars: | 2022-09-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Vcg | Visual China Group | Getty ImagesBEIJING — While Chinese companies churn out new electric cars, local insurance firms think they're more expensive to cover. But repair costs are another reason for higher insurance prices, since "fewer places have the capability to service electric cars in the U.S.," Gardner said. watch nowIn the U.S., Insurify's analysis of the U.S. market found there was no difference in accident rates among electric cars, hybrids and combustion engine cars. But by official Chinese statistics, new energy vehicles in the country are more prone to fires than traditional fuel-powered ones. Electric cars are based on a platform system, and certifying safety can be faster, he said, noting potential use of virtual testing scenarios, or the ability to test individual parts.

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