Zhang Yan

1 week ago | businesslive.co.za | Qiaoyi Li |Zhang Yan |Brenda Goh

Beijing — Tesla’s China-made electric vehicle sales fell 6% in April from a year earlier, extending declines for a seventh month, as the US carmaker grapples with intense competition by its Chinese rivals and a tarnished image in Europe. Deliveries of China-made Model 3 and Model Y vehicles, which account for exports to markets including Europe as well as China sales, totalled 58,459 units last month, down 25.8% from March, data from the China Passenger Car Association (CPCA) showed on Wednesday.

1 month ago | businesslive.co.za | Qiaoyi Li |Zhang Yan |Brenda Goh

Beijing — China’s car exports will likely face greater than forecast pressure this year as US tariff hikes hit the economies of important overseas markets hard, potentially curbing consumer demand, a Chinese auto industry association said on Wednesday. China ships very few cars to the US, which imposed a 100% tariff on imported Chinese electric vehicles under the previous administration of President Joe Biden.

1 month ago | businesslive.co.za | Zhang Yan |Qiaoyi Li |Brenda Goh

Shanghai — Chinese electric vehicle giant BYD aims to double its sales outside China to more than 800,000 cars in 2025 and will look to overcome tariffs by assembling cars locally, its chair told analysts on an earnings call on Tuesday. BYD, which sold 417,204 units overseas in 2024, expects to see “a substantial rise” in its market share in Britain, which is “very open” to competitive Chinese products, according to a transcript of the call by Wang Chuanfu that was reviewed by Reuters.

1 month ago | businesslive.co.za | Qiaoyi Li |Zhang Yan |Kevin Krolicki

Beijing — Stellantis’ Chinese partner Leapmotor plans to roll out vehicles equipped with its smart-driving technologies in Europe next year, the company’s senior vice-president said on Wednesday. That is the first timeline announced by a Chinese vehicle maker for advanced driver-assistance technologies outside China and comes as manufacturers scramble for an edge in the hyper-competitive market for EVs and long-range hybrids.

1 month ago | businesslive.co.za | Qiaoyi Li |Zhang Yan |Brenda Goh

Beijing - Chinese electric vehicle maker BYD’s net profit leapt 73.1% in the fourth quarter of 2024 to a record 15-billion yuan ($2.1bn), it said on Monday, reaping the rewards of lower prices and higher sales than rivals. Fourth-quarter revenue was up 52.7% at 274.9-billion yuan, the company said in a stock market filing. For the whole of last year, profit rose 34% to a record 40.3-billion yuan on revenue up 29%.