Yujie Xue

3 weeks ago | scmp.com | Yujie Xue

Chinese smartphone maker Xiaomi will start making money from its electric-vehicle (EV) venture by the end of this year, according to its founder and CEO Lei Jun, less than two years after rolling its first units off the assembly line, as demand surpassed expectations. Losses have narrowed, and the unit could become profitable by the third or fourth quarter, local media The Paper reported on Tuesday, quoting Lei during a presentation in Beijing.

3 weeks ago | scmp.com | Yujie Xue

China’s electric vehicle (EV) makers have had a lot to contend with over the past week: slumping shares for market leader BYD, cooling sales and margins and a warning from authorities in Beijing amid a punishing price war. BYD’s Hong Kong-listed shares lost as much as 17 per cent of their market value, or HK$122.3 billion (US$15.6 billion), on Monday after falling to HK$378.20 from an all-time high of HK$477.80 on May 23. The company’s shares recovered 4 per cent on Tuesday.

1 month ago | scmp.com | Daniel Ren |Yujie Xue

China’s Hesai Group, the world’s largest maker of automotive lidar sensors, plans to open its first plant outside the mainland in Southeast Asia next year. Chief financial officer Andrew Fan said on Wednesday the Shanghai-based company recently signed a land lease for the factory, with construction set to start later this year and production in late 2026. He did not give details.

1 month ago | scmp.com | Yujie Xue

Xiamen Hithium Energy Storage Technology, the world’s third-largest energy storage system (ESS) battery manufacturer, is ramping up production overseas in response to heightened US-China tensions and rising tariffs impacting Chinese exports. Hithium plans to start production at its Texas factory in the second half of this year and hire at least 200 staff locally, said Sun Minghuang, the director of strategic marketing, in an exclusive interview.

1 month ago | thestar.com.my | Yujie Xue

French carmaker Renault Group is using its Chinese development centre to design new models aimed at markets beyond Europe, a senior executive said, as the company seeks to cut production costs and accelerate development by applying insights from the mainland market. The company launched its Advanced China Development Centre (ACDC) in Shanghai last year, which employs around 200 people who are focused on developing electric vehicles (EVs) for the European market.