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Yves Herman | ReutersChinese electric vehicle maker BYD reported third-quarter revenue that topped that of behemoth rival Tesla for the first time. On Wednesday, BYD reported revenue for the three months ended Sept. 30 of 201.12 billion yuan ($28.24 billion), up 24% from a year ago. That exceeded Tesla's revenue of $25.18 billion reported for the same period. At least half of BYD's sales are hybrid vehicles, whereas Tesla's vehicles are battery only. Likewise, Tesla remains on top in year-to-date sales, slightly edging out BYD's roughly $70.53 billion total revenue at $71.98 billion.
Persons: Yves Herman, BYD, Tesla, Elon Musk's Tesla Organizations: Reuters, behemoth, Elon, BYD's Seagull, EU, SAIC Motors Locations: China, Zeebrugge, Belgium, Beijing, Europe, Berlin, Hungary, Turkey
With the Fed, Apple earnings and the jobs report passing with flying colors this week, the runway to more gains looks a lot less cluttered. This past week was chock full of Club earnings: 12 portfolio companies, including Apple , delivered results. Analysts expect Wynn's earnings per share of $1.27 versus 29 cents a year ago when China was not fully back from Covid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jerome Powell, we're, Jim Cramer, Jim, Apple, Eli Lilly, Estee Lauder, Stanley Black, Decker, Bausch, FactSet, It's, Bob Iger, Iger, Nelson Peltz, We're, Krystal, Berkshire Hathaway, Tyson, Jones Lang, Walt, Ferrari N.V, WK Kellogg, Wynn, Vishay, CRON, MARA, RICK, Ginkgo, Jim Cramer's, David Paul Morris Organizations: Federal Reserve, Apple, GE Healthcare, DuPont, Linde, Bausch Health, Coterra Energy, Club, Disney, Wynn Resorts, CNBC, Revenue, Vegas Sands, Cotai, Boston, Airlines, Krystal Biotech, Alpha Metallurgical Resources, Axsome Therapeutics, Tyson Foods, TSN, Bowlero Corp, CNA Financial Corp, CNA, Jones Lang LaSalle Incorporated, Technologies, Realty Income Corp, Lab, Teradata Corp, Technology, FMC Corporation, FMC, Paymentus Holdings, Shockwave, Vertex Pharmaceuticals, Goodyear Tire & Rubber Company, Simon Property Group, Sterling Construction Company, Apple Hospitality, Boise Cascade Corporation, BellRing Brands, Coty, COTY, Fidelity National Information Services Inc, Vornado Realty, Walt Disney Co, Holdings, Madrigal Pharmaceuticals, Nikola Corporation, BP, Rockwell Automation, MarketAxess Holdings, Jumia Technologies, GEO Group, Builders FirstSource Inc, Duke Energy Corp, WYNN, Rivian Automotive, Arista Networks, Occidental Petroleum Corp, Astera Labs, Bros, Flywire Corporation, B2Gold Corp, Kinross Gold Corp, Virgin Galactic Holdings, iRobot Corp, Electronic Arts Inc, McKesson Corp, ACM Research, Avadel Pharmaceuticals, Toyota Motor Corp, Emerson Electric Co, Perion, Editas, Brink's Company, Sinclair Corporation, New Fortress Energy, Starwood Property Trust, Animal Health, ELAN, Farms, IM Cannabis Corp, Fox Corporation, Formula One, Icahn Enterprises, Teva Pharmaceutical Industries, Arm Holdings plc, ARM, AMC Entertainment Holdings, Trade, AppLovin Corporation, Sciences Corp, SolarEdge Technologies, Roblox Corporation, GigaCloud Technology Inc, Warner Bros ., Properties Trust, Growers, Constellation Energy Group, Cronos, Fiverr, Solar Inc, EPAM Systems, Cedar Fair Entertainment, Digital Holdings, RCI Hospitality Holdings, Akamai Technologies, Semiconductor, Insulet Corp, NuScale Power Corporation, Ginkgo Bioworks Holdings, Bloom Energy Corporation, Construction, AMC Networks, CRH Public Ltd . Company, Jim Cramer's Charitable, Allen, Co . Media, Technology Conference, Bloomberg, Getty Locations: China, Eaton, Amazon, Covid, Macao, Vegas, Sun Valley , Idaho
Pictured here is the Zeekr 001 electric car at a services trade fair in Beijing on Aug. 31, 2023. China News Service | China News Service | Getty ImagesBEIJING — Chinese electric car brand Zeekr is selling more vehicles than Tesla in parts of China, and plans to expand in Europe and Latin America this year, Zeekr CEO Andy An told CNBC on Wednesday. For the first three weeks of April, Zeekr sold 500 more cars than Tesla in the province of Zhejiang, where Zeekr and its parent company Geely are based. Zeekr also slightly outsold Tesla in the province of Anhui, near Shanghai, and Guangxi, an autonomous region in southern China. The rapid rise of Chinese electric car companies, however, has also prompted the EU and U.S. to consider measures for protecting their own auto industries.
Persons: Andy, Elon, Tesla, Zeekr Organizations: China News Service, Getty, CNBC, EU Locations: Beijing, BEIJING, China, Europe, Latin America, Zhejiang, Anhui, Shanghai, Guangxi, Sweden, Netherlands, America, Hong Kong, Macao, Singapore
BEIJING — Chinese smartphone company Xiaomi said Thursday it will sell its first car for far less than Tesla's Model 3, as price wars heat up in China's fiercely competitive electric car market. Xiaomi CEO Lei Jun said the standard version of the SU7 will sell for 215,900 yuan ($30,408) in the country — a price he acknowledged would mean the company was selling each car at a loss. He also said the SU7 had a minimum driving range of 700 kilometers (nearly 435 miles) versus the Model 3's 606 kilometers. Lei also claimed that Xiaomi's car factory, for which all "key" steps are fully automated, can produce an SU7 every 76 seconds. Earlier this week, the Xiaomi CEO said on social media the SU7 would be the best sedan "under 500,000 yuan" ($69,328).
Persons: Xiaomi, Lei Jun, Lei, Tesla Organizations: Tesla's, Tesla, Huawei Locations: BEIJING, China, Beijing
The three major averages posted gains for the fourth week in row, lifted by strong quarterly earnings results for most of the Big Tech companies and a strong jobs report. A weaker ADP Employment report on Wednesday provided no read-through to the monster January jobs report Friday. Here's what we're keeping an eye on in the coming week: 1. Earnings: It's another big earnings week head for the portfolio, with 8 more of our companies reporting. Consistency is what we appreciate most from nat gas giant Linde , so we're hoping for another quarter of solid earnings growth Tuesday.
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BYD's new luxury brand Yangwang is selling its first model, the U8, for more than 1 million yuan (US$160,000). While Tesla's Model Y was the best-selling purely battery-powered car in China for the six months ending in November, BYD vehicles accounted for four of the top 10 such cars sold during that time. When including hybrids, seven BYD cars made the top 10 list. That's according to China Passenger Car Association data cited by consumer information site Autohome. Here are the five best-selling BYD new energy vehicles in China, according to the data:
Persons: BEIJING — BYD, Tesla Organizations: BEIJING —, China Passenger Car Locations: BEIJING, China
BYD launches its most direct Tesla competitor yet
  + stars: | 2023-07-04 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +4 min
The Denza N7 is set to begin deliveries in about two weeks, according to the company. In another page from Nio's playbook, the Denza N7 launch in Beijing was followed by a live music performance. Its prior electric model, the D9 multi-purpose vehicle, claims more than 10,000 sales a month since since March. At the time Zeng said he expected competition in China's new energy vehicle market would move into the 400,000 yuan to 500,000 yuan price range and above. The 100,000 yuan to 200,000 yuan price range has been the primary price range for cars in China, Zeng said.
Persons: Yang Dongsheng, Tesla, Tu Le, Denza, playbook, Denza's, Zhao Changjiang, BYD, Nvidia Orin, Orin isn't, Yang, Craig Zeng, Zeng Organizations: Bloomberg, Getty, Tesla's, Tesla, Benz Group, Tech, Benz, BMW, Audi, Qualcomm, Nvidia, CNBC Locations: Beijing, BEIJING, China, Weibo, Thailand, Hong Kong, Macao, Europe
Cadillac advertises for its electric car in Shanghai on May 23, 2023. Hugo Hu | Getty Images News | Getty ImagesBEIJING — Subsidies for electric cars aren't enough to boost growth in China's slowing economy. One of the few detailed stimulus plans Beijing has announced this year extends tax breaks for electric car purchases, according to documents released Wednesday. He was speaking about the electric car market in general. China still leads globally in the installation of public fast charging stations – almost 90% of the global growth in such chargers last year, the IEA said.
Persons: Hugo Hu, China haven't, Craig Zeng, Zeng, Nomura Organizations: Getty, CNBC, International Energy Agency, State Council Locations: Shanghai, BEIJING, Beijing, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is a strong trend of switching to EVs in China, says automotive portalCraig Yan Zeng of Autohome discusses the outlook for electric vehicles in China and the environmental concerns behind growth in the sector.
Persons: Yan Zeng, Autohome Locations: China
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