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Solid-state batteries have long been billed as the "holy grail" of sustainable driving. As the name suggests, solid-state batteries contain a solid electrolyte, made from materials such as ceramics. Automakers have invested billions of dollars in solid-state battery research and teamed up with developers to produce their own versions for mass production. Tomohiro Ohsumi | Getty Images News | Getty ImagesJapan's Toyota, for instance, has said it is aiming to bring solid-state batteries into mass production between 2027 and 2028. Yet, despite growing hype over the potential rollout of solid-state batteries, analysts remain skeptical about when they will actually make it to market.
Persons: Tomohiro Ohsumi, Japan's Nissan, Germany's Mercedes, Max Reid, Wood Mackenzie, Reid, Wood Mackenzie's Reid, Julia Poliscanova, Poliscanova, Nio, Ganfeng, Environment's Poliscanova Organizations: Afp, Getty, Toyota Motor Corp, Benz Group, Stellantis, Hyundai, Kia, Environmental Defense Fund, CNBC, Transport, Environment, Paris, Show, Qingtao Energy Locations: Nanjing, China's, Jiangsu, PARIS, France, Tokyo, Japan, U.S, China
These tiny EVs are making a big impact
  + stars: | 2024-05-17 | by ( Tom Carter | ) www.businessinsider.com   time to read: +4 min
Here are some of the tiny EVs making a splash in Asia and Europe. AdvertisementChief among those is the Seagull, a tiny EV that can go 305 km on a single charge and costs $11,000. SOPA Images/Getty ImagesJapan has long had a soft spot for tiny EVs, known as Kei cars — and the Nissan Sakura is one of the most popular. BITechnically speaking, the Citroen Ami isn't an electric car at all, but an "electric quadricycle." The tiny microcar has been on sale in Europe since 2021, with a UK launch mooted for later this year.
Persons: , Nissan Sakura, Tesla, Aly Song, Reuters BYD, Elon, HECTOR RETAMAL, Citroen Ami, Citroen Ami isn't, Ami, Merlin Ouboter Organizations: Service, Nissan, Tesla, Ford, Business, Reuters, SAIC, General Motors, Japan, Citroen, BI, Getty Locations: China, Japan, Europe, Asia, Guang, Shanghai, France, London, Swiss
BYD's Han electric car, pictured here at the 2021 Shanghai auto show, is one of the most popular new energy vehicles in China. BEIJING — Chinese electric car company BYD said Friday that it launched its flagship Han sedan in the United Arab Emirates this week. In June, Chinese electric car startup Nio announced it received $738.5 million from a fund owned by the Abu Dhabi government. BYD said it opened a showroom in Dubai Festival City as part of a collaboration with Al-Futtaim Electric Mobility Company. In March, a press release said Al-Futtaim would represent BYD in the UAE, the first country in the Middle East to have BYD cars on the road.
Persons: BYD Organizations: United, Dubai Festival City, Al, Futtaim Electric Mobility Company Locations: Shanghai, China, BEIJING, United Arab Emirates, UAE, Europe, Saudi Arabia, Abu Dhabi, Dubai
China is the world's electric vehicle leader, with 64% of total production and 59% of global EV sales in 2022, according to the World Economic Forum. One of its biggest EV producers, BYD , looks set to topple Tesla's position as the world's top seller of electric cars. AdvertisementCheaper EVsTesla sells just four cars – the Model S and Model 3 sedans, and the Model X and Model Y SUVs. Advertisement"2023 is set to be another banner year for China in terms of EV sales," the data company said. Seeing BYD overtake Tesla in the EV race may not bring any festive cheer for Elon Musk this holiday season.
Persons: Tesla, , Tesla's, BYD, Elon, John Keeble, Seth Goldstein, that's, Goldstein, Teslas, Musk, Morgan Stanley, Lin Shanchuan, China's, Mazzocco, Morningstar's Goldstein, Stella Li Organizations: Service, Economic, EV, Elon Musk's, Yuan, Battery, Center for Strategic, International Studies, Getty, Tesla Beijing, Rho, Reuters, Bloomberg Locations: China, Shanghai, Washington ,, Fujian, Xinhua, Norway, America
Reorganization at Nio comes as the company eyes the US market. AdvertisementAdvertisementBig changes are in store for Chinese electric car company Nio, one of Tesla's biggest rivals in the world's largest vehicle market. News of layoffs and reorganization at Nio come as the Shanghai-based company eyes US EV sales by 2025 . Chinese car companies have often eyed the US market, but none have yet made a big splash in the highly competitive market. Years of growth in the US EV market is showing signs of slowing, and US manufacturers are pulling back on big electric vehicle production promises.
Persons: , Elon, Nio, Tesla, haven't, Martin French Organizations: TechCrunch, Service, US, EV, US EV, Shanghai, Ford, GM Locations: Shanghai, Nio
BMW Vision Neue KlasseBMW revealed the BMW Vision Neue Klasse, a concept electric vehicle that will underpin its foray into battery-powered cars. Mercedes-Benz Vision One ElevenThe Mercedes-Benz Vision One Eleven on display at the IAA Mobility show in Munich, Germany. GTI ConceptThe all-electric Volkswagen ID GTI Concept car on display at the IAA Mobility 2023 show in Munich, Germany. Porsche Mission XThe Porsche Mission X on display at the IAA Mobility 2023 show in Munich, Germany. Lego Lamborghini Sián FKP 37A Lego version of the Lamborghini Sián FKP 37 on display at IAA Mobility 2023 in Munich, Germany.
Persons: Olaf Scholz, Ola Källenius, Mercedes, Sven Hoppe, Arjun Kharpal, Leapmotor, Zhu Jiangming, BYD, Warren Buffett, Kharpal, Lucid, Cyberster Organizations: Management, Mercedes, Benz AG, Getty, Mobility, BMW, Neue, CNBC, Benz, IAA, Leapmotor, Opel, CNBC Stellantis, Air, Volkswagen, IAA Mobility, Porsche, Carrera GT, Shanghai Auto, Lamborghini Locations: Munich, GERMANY, Germany, Xpeng, BYD, Hangzhou, Europe
Global electric vehicle makers are tapping advanced technology to vie with each other and domestic brands in the intensively competitive Chinese market. China is the world's largest EV market with 5.9 million units sold in 2022, capturing 59% of EVs sold globally, according to Canalys. Counterpoint Research data showed that domestic brands command 81% of the EV market, with BYD, Wuling, Chery, Changan and GAC among the top players. BofA Securities in a May report said it expects China to still be the world's largest EV market in 2025, standing at 40%-45% market share. China EV products are much more competitive than before, and China will continue to see EV penetration expanding, in our view," said the BofA Securities analysts.
Persons: EVs, Canalys Organizations: Inc, Shanghai Auto Show, Global, EV, Chery, Changan, GAC, BofA Securities, China EV Locations: Shanghai, China
Xinzhou Wu, vice president of autonomous driving at Xpeng, tendered his resignation "for personal and family reasons," Xpeng said in a statement. Liyun Li, senior director of Xpeng's autonomous driving team, will takeover Wu's role. He Xiaopeng, CEO of Xpeng, praised Wu's contribution to getting Xpeng into a "leading position in autonomous driving technology." The Guangzhou-headquartered firm has tried to position itself as more advanced on autonomous driving and other technologies than its competitors. "I will continue to personally lead our autonomous driving team and strengthen our leadership in Smart EV technologies," the CEO added.
Persons: Xpeng, Xinzhou Wu, Liyun Li, Li, Xpeng's, Xpeng's Xiaopeng, Xiaopeng Organizations: Inc, Shanghai Auto Show, Xpeng, Nio, Li Auto, Volkswagen Group, Smart Locations: Shanghai, China, Tesla, Guangzhou
Chinese auto startup XPeng unveiled its fifth electric model in April at the Shanghai auto show — and it's shaping up to be a pain for Tesla and Elon Musk. The XPeng G6 electric SUV. XPengOn Wednesday, it got some extra dough to make its Tesla-topping dreams come true as Volkswagen announced plans to invest $700 million into its partnership with Xpeng, eventually holding just under 5% of the company.
Persons: Tesla, Elon Musk Organizations: Volkswagen, Xpeng Locations: Shanghai
Tesla, ABB, TSMC get Q2 earnings off to downbeat start
  + stars: | 2023-07-20 | by ( ) www.reuters.com   time to read: +4 min
The news cast a pall over stocks as second-quarter earnings season ramps up. ABB said its orders in China, its second-biggest market, fell 9% in the three months to the end of June, with its electrification, motion and robotics divisions all seeing lower demand. Analysts have warned easing input costs will put pressure on companies to start cutting prices, or they may lose business. Swedish hygiene product maker Essity's (ESSITYa.ST) second-quarter earnings missed market expectations, hit by wage inflation, bigger marketing costs in its consumer goods unit, and lower volumes after price hikes. Investors punished the companies' shares.
Persons: TSMC, Elon Musk, Aly, Musk, Electrolux, Josephine Mason, Sharon Singleton Organizations: ABB, LONDON, Nasdaq, Shanghai, REUTERS, Europe's, Investors, Netflix, Revenue, Reuters, Thomson Locations: China, Germany, Shanghai, Europe, lockdowns, United States
Xpeng has received a "significant" amount of orders for its newly launched G6 pure electric crossover, president Brain Gu told reporters on Wednesday. Xpeng, which saw first-half sales drop by 40%, will start the delivery of its G6 compact crossover this month with a starting price 20% lower than Tesla's best-selling model of Model Y. With G6, Xpeng also introduced its most advanced autonomous driving capabilities into the category of EVs priced at 250,000 yuan ($34,500.37) or below, Gu said. Shares of Xpeng in Hong Kong had gained more than 20% after it announced prices for the G6 last Thursday. ($1 = 7.2463 Chinese yuan renminbi)Reporting by Zhang Yan and Brenda Goh; Writing by Meg Shen; Editing by Toby Chopra and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: Xpeng, Brain Gu, BYD, Gu, Zhang Yan, Brenda Goh, Meg Shen, Toby Chopra, Devika Organizations: Tesla, Thomson Locations: SHANGHAI, HK, Shanghai, China, Hong Kong
Tesla and other electric car companies in China had cut prices earlier this year in a bid to attract buyers. The analysts cut their rating on Nio shares to hold, from buy. Looking ahead, Nio said that it aimed to deliver at least 20,000 cars a month in the second half of the year. watch nowNomura analysts said they expected the car company can improve its deliveries with new models, like the ES6 SUV and ET5 touring sedan. Nio's cash and cash equivalents fell below $1 billion at the end of 2019.
Persons: William Li, Hector Retamal, Nio, William Li's, Tesla, Li, Nomura, Mizuho Organizations: HK, Afp, Getty, China Merchants Bank International, Monday, Nomura, State Council, EV, Mizuho Securities Locations: Shanghai, BEIJING, China, EU
[1/2] The logo of Chinese carmaker Geely Auto is pictured at the second media day for the Shanghai auto show in Shanghai, China April 17, 2019. Thailand's Board of Investment held discussions with five major Chinese EV makers including Geely during a roadshow to China in April, its Secretary-General Narit Therdsteerasukdi said. "All expressed keen interest in Thailand's policy to develop a regional EV production base and an integrated EV supply chain," Narit said, without providing more details of the talks with Geely. BYD and China's Great Wall Motor Co Ltd (601633.SS) are already working on building local EV production in Thailand. China's Great Wall Motor has said it is considering a research and development centre in Thailand that could work on battery-powered pickup trucks.
Persons: Aly Song BANGKOK, Geely, Narit Therdsteerasukdi, JAC Motors, Narit, Aston Martin, China's, Devjyot Ghoshal, Zhang Yan, Jamie Freed Organizations: Shanghai, REUTERS, Reuters, of Investment, BYD Co, Chongqing Changan Automobile Co, Jiangling Motors Corp Ltd, EV, Wall Motor Co, Volvo, Aston, Malaysian carmaker Proton, Toyota Motor Corp, Isuzu Motors, Thomson Locations: Shanghai, China, Thailand, Chongqing, Geely, Swedish, Southeast Asia
After years of eyeing the American market, Chinese brands are poised to arrive. After years of preparation, Chinese car companies are poised to upend the US electric-vehicle market. Chinese EV manufacturers can gain a foothold in the US by coming in at a budget price point, analysts said. "I've driven a number of the Chinese EV brands, and boy oh boy, the Europeans are in trouble." The sheer size of the US car market means new entrants will need to build locally to compete seriously in the long term, he said.
The trend will spread abroad with growing exports of China-made electric SUVs. The market for SUVs has boomed in China over the past decade and now represents almost 40% of all cars sold, with 400 SUV models of all fuel types. Legacy automakers Volkswagen (VOWG_p.DE), BMW (BMWG.DE) and Toyota (7203.T) are counting on new electric SUVs to bolster China sales. Tesla and Renault (RENA.PA) have already been exporting their China-made electric SUVs to Europe on a large scale. Chinese automakers have their own plans to grow electric SUV sales to Europe.
China's car sales rise 2.1% in April as price war effect fades
  + stars: | 2023-05-09 | by ( ) www.reuters.com   time to read: +2 min
BEIJING/SHANGHAI, May 9 (Reuters) - China's passenger vehicle sales rose by 2.1% in April from a month earlier, industry data showed, underscoring a slower pace of growth as the stimulus effect of price cuts and incentives faded. Car sales in April totalled 1.65 million units, 54.5% higher from a year earlier when COVID-19 lockdowns disrupted productions and sales, the China Passenger Car Association (CPCA) said on Tuesday. In the first four months of 2023, vehicle sales were down 1.4% year-on-year to 5.98 million units, it added. Reuters GraphicsChina's crowded auto market is getting even more congested with nearly 300 models displayed at the Shanghai auto show in April, 172 of which were NEVs, according to Ways Consulting. A tepid property market recovery and an unexpected contraction in factory activity is also pointing to a shaky economic outlook, casting clouds over the strength of the post-COVID rebound and potentially dampening consumer spending.
The trend will spread abroad with growing exports of China-made electric SUVs. The market for SUVs has boomed in China over the past decade and now represents almost 40% of all cars sold, with 400 SUV models of all fuel types. Legacy automakers Volkswagen (VOWG_p.DE), BMW (BMWG.DE) and Toyota (7203.T) are counting on new electric SUVs to bolster China sales. Tesla and Renault (RENA.PA) have already been exporting their China-made electric SUVs to Europe on a large scale. Chinese automakers have their own plans to grow electric SUV sales to Europe.
Next is debuted at an event ahead of the Shanghai Auto Show, in Shanghai, China April 17, 2023. "Competition will intensify with more chips and more availability," Antlitz said on a media call after the results. Volkswagen's revenue for the quarter was 76 billion euros ($84.22 billion). Operating profit fell to 5.7 billion euros from 8 billion last year, but still beat expectations of five analysts polled by Refinitiv SmartEstimate for 5.48 billion. Excluding the valuation effect from commodity hedging, operating profit rose by 35% to 7.1 billion euros, yielding a margin of 9.3%.
Volkswagen revenue jumps on growth in Europe, North America
  + stars: | 2023-05-04 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Aly SongBERLIN, May 4 (Reuters) - Volkswagen (VOWG_p.DE) posted a 21.5% gain in first-quarter revenue on Thursday, boosted by higher prices and strong growth in Europe and North America, but operating profit declined from last year when the period benefited from commodity hedging. Revenue for the quarter was 76 billion euros ($84.22 billion). Operating profit fell to 5.7 billion euros from 8 billion euros last year, but still beat expectations of five analysts polled by Refinitiv SmartEstimate of 5.48 billion euros. Excluding the valuation effect from commodity hedging, operating profit rose by 35% to 7.1 billion euros, yielding a margin of 9.3%. Volkswagen attributed the rise in group revenue largely to strong growth in Europe and North America, and said its order book in western Europe totalled 1.8 million vehicles, including 260,000 battery-electric cars.
In this article MBG-FF Follow your favorite stocks CREATE FREE ACCOUNTLewis Hamilton of Great Britain drives the Mercedes AMG Petronas F1 Team W13 on race day during the 2023 Australian Grand Prix at Albert Park on April 2, 2023 in Melbourne. But Mercedes' F1 collaboration to build more efficient EVs faster is unprecedented because it embeds that racing mindset and technological expertise directly in product development. After decades of leadership in combustion-engine technology, legacy carmakers like Mercedes have lagged Tesla in electric vehicles. Mercedes' F1 team can help it get back in the race, said Steven Merkt, head of transportation solutions at TE Connectivity , a major autos supplier. Last year, Mercedes unveiled its EQXX concept car, a super-efficient EV capable of a range of more than 1,200 km (745 miles), which was jointly developed with the German premium carmaker's F1 team in England.
BYD lowers starting price for Seagull electric hatchback
  + stars: | 2023-04-26 | by ( ) www.reuters.com   time to read: +1 min
Companies BYD Co Ltd FollowSHANGHAI, April 26 (Reuters) - Chinese electric car maker BYD (002594.SZ) has set the starting price for its Seagull hatchback at 73,800 yuan ($10,658.89), about 6.3% lower than its initial advertised price, its website showed. The vehicle attracted significant attention at the Shanghai auto show at a price starting from 78,800 yuan - half the price of the cheapest new energy vehicles available elsewhere. It had advertised the two versions at 78,800 yuan and 83,800 yuan during the auto show. The company's longer-range version will be priced at 89,800 yuan, down from the 95,800 yuan advertised at the show. ($1 = 6.9238 Chinese yuan renminbi)Reporting by Brenda Goh Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
Huawei's co-developed Aito electric car brand is now selling an updated version of the M5 model that comes with new driver-assist tech. Around the Shanghai auto show that kicked off last week, electric car startups and Chinese tech companies alike made several announcements about their driver-assist tech. But McKinsey estimates assisted and fully autonomous driving systems in passenger cars could generate $300 billion to $400 billion in global revenue by 2035. Those maps, used by autonomous driving companies such as Alphabet 's Waymo, give a car a detailed picture of city streets. Xpeng, considered one of the most advanced technologically, saw deliveries plunge in the first quarter ahead of a more widespread rollout of its assisted driving tech.
Hong Kong CNN —BMW has landed in hot water in China over tubs of ice cream. The luxury German automaker’s Mini Cooper unit had to apologize repeatedly after being accused of discrimination against Chinese visitors when handing out free ice cream at the Shanghai auto show this week. Reserved for staffOn Friday morning, Mini China issued another apology, saying the Westerners in the videos who got the ice cream were its staff members. The company said it handed out 300 tubs of ice cream per day to visitors at its booth on Tuesday and Wednesday. It called for the public to be more understanding of the two female Chinese workers who handed out the ice cream, saying they were young and inexperienced.
Ford must rethink its brand for China as EVs boom, CEO says
  + stars: | 2023-04-21 | by ( ) www.reuters.com   time to read: +3 min
DETROIT, April 20 (Reuters) - Facing a booming and hyper-competitive market for electric vehicles (EVs) in China, Ford Motor Co (F.N) needs to reshape its brand for the world's largest car market, Chief Executive Jim Farley said. "We're going to have to rethink what the Ford brand means in a place like China," Farley told reporters on Thursday evening in Detroit, speaking on the sidelines of a charity event. Even state-owned automakers in China had created new brands for EVs, he said. "That's why they're going big on Europe. "They're totally vertically integrated, completely, all the way to batteries.
Chinese auto startup XPeng unveiled its fifth electric model on Tuesday at the Shanghai auto show — and it's shaping up to be a pain for Tesla and Elon Musk. The XPeng G6 electric SUV.
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