Warren Buffett-backed BYD is growing EV sales at such a furious pace that it also is closing on FAW-Volkswagen to become the largest automaker of any type in the country.
Guangzhou-based XPeng has run double-shift, 24-hour production since mid-May to clear its order backlog.
Fourteen of China’s top 15 carmakers reported sales losses last month while EV firm BYD’s April sales surged 138.4%
The US carmaker shipped over 4,700 electric vehicles to Europe on Wednesday, its first exports from the city in almost a month, state media said.
More than half of US companies operating in China say they have delayed or cut investments as they evaluate their options, with staff less willing – or simply refusing – to shift to China
Li Auto, which gets 80% of its EV parts from Shanghai and the Yangtze River Delta, was hit hardest while Xpeng in far away Guangzhou fared the best.
China EV makers Nio, Great Wall and Hozon are among manufacturers based outside of Shanghai that are being hammered by shortages of parts.
The unheralded electric vehicle maker has seen a sales rise that now puts it shoulder to shoulder with the likes of Nio
Supply-chain disruptions, rocketing inputs costs, and the partial removal of government subsidies for China EV manufacturers have driven a stock market selloff
Chinese electric car maker Hozon startled EV industry watchers by growing sales of its affordable electric SUVs more than fourfold, outpacing competitors XPeng, Nio and Tesla.
Asia Financial's China Electric Vehicles Index, which tracks 14 leading EV makers, slumped 26.1% so far in 2022 and is down 13% in March.
Three-quarters of US companies in China told an AmCham survey that multiple issues from fickle policy changes to slow progress on market access forced them to put investments on hold