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☆ China lithium price rebound to be capped by growing supply - analysts
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +3 min

Production and sales of EVs in May grew by 53.7% and 71.2% respectively year-on-year, data from the China Passenger Car Association showed. Demand from the energy storage sector, the second biggest user of the battery metal, is also growing rapidly. "We are seeing the energy storage market is boosting capacity expansion of LFP (lithium iron phosphate) batteries and cathode materials, which in turn sends pressure to the price of lithium carbonate," Zou said. Zou expects the lithium carbonate price in China to average 300,000 yuan a ton this year. "The May growth seen in the auto market, boosted by short-term policy support, is unlikely to last and lithium prices might fall below 200,000 yuan within this year," he added.

Persons: Price, Susan Zou, Zou, Yang Jing, Chen Junquan, Chen, Siyi Liu, Dominique Patton, Andrew Hayley, Emma Rumney Organizations: China Passenger Car Association, Cell, Rystad Energy, EV, Beijing, China Corporate Research, Fitch, Economic Research Institute, Manufacturers, Thomson Locations: BEIJING, China, Beijing, Shanghai

☆ China launches nationwide car purchase campaign as May sales tick up
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

BEIJING/SHANGHAI, June 8 (Reuters) - China on Thursday announced a nationwide campaign to promote automobile purchases in a major push to shore up demand in the world's largest auto market. The commerce ministry said it would coordinate and push local authorities to roll out targeted policies and measures in favour of car consumption. The campaign will target multiple car sales categories including both new and secondhand vehicles, it added, and push to replace gasoline cars with new energy vehicles (NEVs) such as battery-driven cars and plug-in petrol-electric hybrids. PRICE CUTS, NEW PRODUCTSThe China Passenger Car Association (CPCA) said on Thursday said passenger vehicle sales in China totalled 1.76 million vehicles in May. Sales of NEVs rose 10.5% in May from April and accounted for 32.9% of total May sales, CPCA data showed.

Persons: Cui Dongshu, Graphics Tesla, Qiaoyi Li, Zhang Yan, Brenda Goh, Kim Coghill, Jan Harvey Organizations: Ministry of Commerce, China Passenger Car Association, Reuters, Graphics, Thomson Locations: BEIJING, SHANGHAI, China

BEIJING, June 5 (Reuters) - U.S. automaker Tesla Inc (TSLA.O) delivered 77,695 China-made electric vehicles (EVs) in May, a 2.4% jump from April, data from the China Passenger Car Association (CPCA) showed on Monday. Chinese rival BYD Co Ltd (002594.SZ), with its Dynasty and Ocean series of EVs and petrol-electric hybrid vehicles, logged sales of 239,092 vehicle in May, up 14% from April, CPCA data showed. CPCA is scheduled to release more detailed car sales figures for May later this month. Tesla has been under intense focus in China in recent weeks, amid an unannounced, high-stakes visit from boss Elon Musk. Musk visited Tesla's Shanghai factory late on Wednesday and met with Chen Jining, the ruling party's Shanghai secretary, on Thursday.

Persons: CPCA, Tesla, Elon Musk, Ding Xuexiang, Musk's, Zeng Yuqun, Musk, Chen Jining, Chen, Qiaoyi Li, Zhang Yan, Brenda Goh, Louise Heavens, Bernadette Baum Organizations: U.S, Tesla Inc, China Passenger Car Association, BYD Co, Reuters, Amperex Technology Co, Thomson Locations: BEIJING, China, Shanghai, Beijing

☆ GM, VW face idled capacity risk in China without faster EV transition -Greenpeace
▼ + stars: | 2023-05-11 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Rebecca Cook/File PhotoSHANGHAI/BERLIN, May 11 (Reuters) - Automakers including Volkswagen and General Motors could have considerable unused production capacity for conventionally powered vehicles in China by 2030 if they do not speed up their transition to electric vehicles (EV), Greenpeace said on Thursday. By the end of 2021, China had total annual production capacity for 40.89 million passenger vehicles of all fuel types with a utilisation rate of 52.5%, showed data from the China Passenger Car Association. If the sales rate reaches 70%, the average unused capacity utilisation rate for ICE production would rise to two thirds, Greenpeace said, basing its estimates on public information about planned capacity and projected sales. GM and Volkswagen will face the largest pressure with over 3 million units of idled capacity for ICE cars in China, presenting a major risk for those automakers, Greenpeace said. Volkswagen pointed to its rising sales in China and said it expects to profit from the country's growing demand for cars.

☆ China's BYD cuts starting price for Seal EV; aims to extend lead
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, May 10 (Reuters) - BYD Co Ltd (002594.SZ), on Wednesday cut the starting price of its best-selling Seal sedan by 10%, as the Chinese electric vehicle (EV) giant seeks to extend its lead in the world's largest auto market with lower-priced products. That includes a rear-wheel drive Seal Champion Edition with a 550-km (342-mile) driving range per charge at a starting price of 189,800 yuan ($27,459). BYD, China's best-selling electrified vehicle maker, launched the Seal sedan under its Ocean series in July 2022 with a sporty design style and intelligent features. The EV price war is also drawing sales away from internal combustion engine vehicles as the price gap between the technologies narrows. It has outgrown Germany's Volkswagen as the best-selling passenger vehicle brand in China in the last two quarters.

☆ China's BYD launches lower-priced versions of Seal EV; aims to extend lead
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, May 10 (Reuters) - BYD Co Ltd (002594.SZ), launched on Wednesday five lower-priced versions of its Seal sedan, as the Chinese electric vehicle (EV) giant seeks to extend its lead in the world's largest market for new-energy cars. That is also 18% cheaper than the rear-wheel drive version of Tesla Inc's (TSLA.O) Model 3 in China with a driving range of 556 kilometres, against which the Seal model seeks to compete. China's EV market is in the throes of a price war started by Tesla earlier this year, with several EV makers including BYD following the U.S. automaker's example by cutting prices for best-selling models this year to defend market share. The EV price war is also drawing sales away from internal combustion engine vehicles as the price gap between the technologies narrows. BYD has so far led the new energy vehicle (NEV) market with its various offerings of battery-only and plug-in hybrid models priced under 300,000 yuan.

☆ 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.

☆ Tesla's April sales of China-made EVs down 14.7% from March -CPCA
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: 1 min

BEIJING/SHANGHAI, May 5 (Reuters) - Tesla Inc (TSLA.O) delivered 75,842 China-made electric vehicles (EVs) in April, down 14.7% from March, data from the China Passenger Car Association (CPCA) showed on Friday. The figure was a huge jump from a year earlier, when the city of Shanghai - where Tesla has a factory - was in COVID-19 lockdown and the company delivered only 1,512 China-made Model 3 and Model Y cars in the world's largest auto market. Local rival BYD Co (002594.SZ), with its Dynasty and Ocean series of EVs and hybrids, sold 209,467 vehicles in April, CPCA data showed, up 1.6% from March. Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh Editing by Jamie Freed and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla raises car prices globally, with the biggest increase in China
▼ + stars: | 2023-05-03 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The Model Y and Model 3 now starts at 263,900 yuan ($38,179) and 231,900 yuan ($33,550) respectively. Tesla (TSLA) has also hiked the prices of the Model 3 and Model Y by about $222 in Canada and $269 in Japan, respectively. Late last month, Tesla raised the prices of its higher-end vehicles: Model S and Model X by $2,500 in the United States. The recent round of price adjustments reversed a series of significant price cuts by Tesla that were aimed at boosting demand. But analysts said the recent price increases had the same purpose of stoking consumer demand.

☆ Chinese electric car makers suffer as Elon Musk doubles down on Tesla price war
▼ + stars: | 2023-04-20 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Shares in Tesla’s Chinese rivals fell on Thursday, after CEO Elon Musk signaled that the company will continue cutting prices to boost demand for electric cars in an increasingly competitive market. XPeng plunged 8% in Hong Kong, while Nio (NIO) sank 5.6%. BYD (BYDDF), the world’s largest seller of plug-in hybrid EVs and battery EVs, also dropped 1% in Hong Kong. A number of car manufacturers in China followed suit by cutting prices or offering discounts, including Xpeng, Leapmotor, BYD and Huawei’s EV unit. According to the most recent statistics from the CPCA, Tesla’s sales of its China-made vehicles surged 35% in March to more than 88,000 units.

☆ Toyota reveals two more electric cars for China
▼ + stars: | 2023-04-20 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Toyota displays a new concept electric car — developed jointly with BYD and FAW — at the Shanghai auto show in April 2023. CNBC | Evelyn ChengBEIJING — Toyota this week began taking orders for its first electric sedan in China, and announced two more models are set to come to the local market next year. The three cars are part of the Japanese car giant's bZ, or "beyond zero" lineup of battery-electric cars. Toyota, the world's largest automaker by vehicles sold, has been relatively cautious about investing in fully electric cars. The bZ sports car concept sedan is jointly developed by Toyota, BYD and Chinese state-owned FAW.

☆ Nio says it won't join the 'price war' and slash prices like Tesla
▼ + stars: | 2023-04-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

watch nowSHANGHAI — Chinese electric car company Nio will keep its prices high rather than cut them, CEO William Li told CNBC in an interview. "For us, we will certainly not join the price war," Li said, claiming Nio's products and services are worth the price. Tesla , Elon Musk's car company, this year slashed prices in the U.S. and China. New energy vehicles — which includes hybrid and pure electric — saw penetration of passenger car sales reach 34% in March, according to the China Passenger Car Association. Within that market, Nio said it delivered 31,041 vehicles in the first quarter, up by 20.5% year-on-year.

☆ China's electric car drive, led by BYD, leaves global brands behind
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +4 min

SHANGHAI, April 17 (Reuters) - China's auto market, the world’s largest, is accelerating toward an electric future – leaving established global brands stuck in the slow lane. China’s passenger car sales were down 13% in the first quarter, data from the China Passenger Car Association show. But sales of EVs and plug-in hybrids – an area where Chinese automakers led by BYD now dominate – were up 22%. BYD dominates China’s market for plug-in hybrids, cars that have a combustion engine but are capable of being charged and running for shorter distances on electric power. In a further threat to established brands, China’s exports are growing fast, led by EVs and PHEVs.

☆ China's car sales stay flat in March amid price war -CPCA
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

Car sales in March were 1.61 million units, the China Passenger Car Association (CPCA) said. In the first three months, sales had fallen 13.4% to 4.33 million units, it added. Sales of new energy vehicles (NEVs), which include pure battery electric cars and plug-in hybrids, rose 21.9% in March and accounted for 34% of the month's sales, the data showed. More than 40 brands have joined a price war started by Tesla this year, among them Nissan, Toyota and Volkswagen, which have started offering aggressive discounts on their best-selling ICE models to defend market share. Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla delivers 88,869 China-made EVs in March - CPCA
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

April 4 (Reuters) - Tesla (TSLA.O) sold 88,869 units of China-made electric vehicles (EV) in March for both domestic sales and exports, up 35.0% from a year ago, data published by the China Passenger Car Association (CPCA) showed on Tuesday. That was up 19.4% from February, when the U.S. electric car maker delivered 74,402 China-made Model 3 and Model Y electric cars. By comparison, BYD sold 206,089 units last month with its Dynasty and Ocean series of EVs and hybrids, up 97.5% from a year ago, CPCA data showed. BYD took up 41% in that segment, CMBI data showed. Reporting by Zhang Yan, Brenda Goh, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ General Motors' China business is hurting, and it's not just because of Covid
▼ + stars: | 2023-03-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

He purchased his Nio over models from rival Chinese automakers Xpeng , Li Auto and IM Motors. GM's operations in the country are much larger than those of its crosstown rival Ford Motor, for example. Equity income from GM's Chinese operations and joint ventures has fallen 67% since its peak of more than $2 billion in 2014 and 2015. And the rising quality of domestic-made electric vehicles helped support — and tap — growing nationalistic pride among China's consumers. In February, Ford named Sam Wu, a former Whirlpool executive who joined the automaker in October, as president and chief executive of its China operations, starting March 1.

☆ Chinese EV comptition hots up as BYD offers discounts
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] BYD electric vehicles (EV) are displayed at a car dealership in Shanghai, China, February 3, 2023. The discounts will be for buyers who place orders for the Song Plus and Seal models between March 10 and March 31, the company said on its social media account. In return for an 88 yuan ($12.64) deposit, buyers for a Seal EV can get 8,888 yuan deducted from the price, while for Song Plus models, the discount is 6,888 yuan. It sold 34,621 Song Plus SUVs and 14,372 Seal sedans in the first two months, according to China Passenger Car Association. The car association data showed Tesla (TSLA.O) sold 39,710 Model Ys and 21,056 Model 3s in January and February combined.

☆ China’s Auto Sales Fall Sharply After Lifting of Pandemic Curbs
▼ + stars: | 2023-03-08 | by ( Selina Cheng | ) www.wsj.com time to read: 1 min

HONG KONG—China’s passenger car retail sales shrank almost 20% in the first two months of this year, underscoring the challenges facing manufacturers in the world’s largest but long-stuttering auto market. The nation’s auto makers sold 2.7 million passenger cars in January and February combined, according to the China Passenger Car Association, down from 3.3 million a year earlier. The association partly attributed the drop to the ending of tax cuts on autos that boosted sales during the pandemic, as well as the end of electric-vehicle subsidies.

☆ China's Jan-Feb passenger cars sales down 20% - CPCA
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI/BEIJING, March 8 (Reuters) - China's passenger vehicle sales fell 20% in the first two months of this year, industry data showed on Wednesday, underscoring weak demand in the world's biggest auto market even as some car manufacturers offer reduced prices to revive demand. Sales in February, 1.42 million units, were 10.4% higher than a year earlier, a low base period when a week-long Lunar New Year holiday reduced business activity, the China Passenger Car Association (CPCA) said. Sales of new energy vehicles (NEVs), which include pure battery electric cars and plug-in hybrids, grew faster than the overall market, up 61% in February on a year earlier. NEVs accounted for more than 30% of new car sales. Tesla accounted for 11.5% of China's battery electric car sales in February, little changed from 11.3% a year before, indicating a waning effect of price cuts it implemented in early January.

☆ Tesla sold 74,402 China-made EVs in February, up 32% year over year
▼ + stars: | 2023-03-03 | by ( ) www.cnbc.com time to read: +1 min

Tesla sold 74,402 China-made electric vehicles in February, up 31.65% from a year earlier, China Passenger Car Association data showed on Friday. That was up 12.6% from January, when the U.S. electric car maker delivered 66,051 China-made Model 3 and Model Y electric cars. Rival BYD with its Dynasty and Ocean series of EVs and hybrids sold 191,664 vehicles last month, CPCA data showed. BYD's market share increased to 37% from 27%. As competition intensifies, Tesla aims to increase its exports and expand into new markets to digest output from its factory in Shanghai.

☆ Tesla sold 74,402 China-made EVs in February, up 32% y/y
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Tesla is seen at a Tesla Supercharger station October 21, 2020. REUTERS/Arnd WiegmannCompanies Tesla Inc FollowSHANGHAI, March 3 (Reuters) - Tesla (TSLA.O) sold 74,402 China-made electric vehicles (EV) in February, up 31.65% from a year earlier, China Passenger Car Association (CPCA) data showed on Friday. That was up 12.6% from January, when the U.S. electric car maker delivered 66,051 China-made Model 3 and Model Y electric cars. Rival BYD with its Dynasty and Ocean series of EVs and hybrids sold 191,664 vehicles last month, CPCA data showed. It has started delivering cars to Thailand and set up its first Supercharger station in there in February.

☆ China's Nio to build factory for budget EVs - sources
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Feb 21 (Reuters) - Chinese electric vehicle (EV) maker Nio Inc (9866.HK) plans to build a factory in Chuzhou city in the eastern province of Anhui to produce budget EVs under a new brand, said three people with knowledge of the matter. Neither Nio nor the Chuzhou local government immediately responded to requests for comment. Nio's main brand, Nio, is positioned for the premium car segment to compete with brands such as BMW, Audi and Mercedes-Benz in China and Europe. More than a quarter of the new cars sold in January in China were either pure electric or plug-in hybrids, according to China Passenger Car Association. Reporting by Zhang Yan, Zhuzhu Cui and Brenda Goh; Editing by Christopher Cushing and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ VW's China JV with SAIC names Jia Jianxu as its new head
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] People visit the Volkswagen booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly SongSHANGHAI, Feb 20 (Reuters) - Volkswagen's joint venture with China's SAIC Motor (600104.SS) said on Monday it had appointed Jia Jianxu, a veteran executive at the state-owned Chinese automaker, as its new general manager. Since 2018, Jia has been the general manager at Yanfeng Automotive Interiors, a SAIC-owned vehicle seat maker, and helped develop its intelligent cockpit products. Jia's appointment comes as Volkswagen is ramping up its efforts in electric vehicles (EVs) in China, with its I.D. Reporting by Zhang Yan and Brenda Goh Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

The $108 billion group’s sheer size means it benefits from exceptional economies of scale in an immature industry. Last year, it tripled both production and sales of pure electric and hybrid cars to nearly 2 million vehicles. That is equivalent to roughly a quarter of EVs purchased in China in 2022. The group makes batteries too, accounting for almost a quarter of China’s total sales last year, Jefferies estimates. Overall passenger car sales, including electric vehicles and fossil-fueled models, slumped 38% in January, reversing a 2.4% gain in the previous month.

☆ Analysis: In China, Tesla could win electric vehicle price battle – but lose the war
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +7 min

[1/5] Visitors check a Tesla Model 3 car next to a Model Y displayed at a showroom of the U.S. electric vehicle (EV) maker in Beijing, China February 4, 2023. REUTERS/Florence LoSummarySummary Companies Tesla price cuts have jumpstarted sales in world no. Most immediately, Tesla's January price cuts drove deliveries of its China-made vehicles up 18% from December. From 15% in 2020, its share of the China EV market fell by a third to just 10% in 2022, according to data from the CPCA. After the latest price cuts, the Model 3 starts at about $34,000 and the Model Y at $38,000.

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