Tag: Electric Vehicle

Chinese electric automaker BYD said on Friday it signed a car parts distribution deal with Italian company Intergea, as part of its strategy to boost its presence in a key European market.

Chinese electric vehicle maker Nio plans to raise around HK$3.50 billion ($450.1 million) via a share placement to develop its smart EVs, a term sheet showed on Thursday.

China’s EV giant BYD recorded revenues of 777 billion yuan ($107 billion) for 2024, surging ahead Elon Musk’s Tesla in annual sales amid intensifying competition in the global market for clean-energy cars.

Chinese electric vehicle maker BYD’s net profit leapt 73.1% in the fourth quarter of 2024 to a record 15 billion yuan ($2.1 billion), it said on Monday, reaping the rewards of lower prices and higher sales than rivals.

NIO’s fourth-quarter net loss unexpectedly widened as higher costs outpaced sales growth after the carmaker launched two subbrands last year amid intensifying competition in China’s electric-vehicle market.

Tesla said Thursday it is recalling nearly all Cybertrucks in the United States to fix an exterior panel that could detach while driving, the latest in a series of call-backs for the pickup truck.

XPeng projected revenue to more than double in the first quarter after reporting robust fourth-quarter results.

Shares in China’s electric vehicle champion BYD touched a new record on Tuesday after founder Wang Chuanfu claimed the Tesla rival can now charge its EVs as quickly as it takes to fill a car with petrol.

China’s BYD on Monday launched an upgraded platform for electric vehicles with 1,000-volt architecture that it said could charge EVs as fast as pumping gas.

Tesla will make a lower-cost version of its best-selling Model Y in Shanghai, three people with knowledge of the matter said, aiming to regain ground lost during a price war in its second-largest market.

Stellantis and Iveco said on Friday they have agreed for the automaker to supply the Italian truckmaker two fully-electric (EV) van models, helping Iveco further expand its EV van range in Europe.

Tesla stock was rising early Tuesday as President Donald Trump said he was buying one of its vehicles in a staunch defense of CEO Elon Musk following a brutal selloff in the previous session.

Shares of Chinese electric-vehicle maker XPeng traded wildly on Monday after company Chairman He Xiaopeng said humanoid robots and flying cars were just around the corner.

Electric vehicle maker Polestar has secured a 12-month loan facility of up to $450 million, it said on Friday, and would delay its fourth-quarter results to April along with its annual filing for fiscal 2024.

Electric vehicle maker Lucid Group on Tuesday said CEO Peter Rawlinson has stepped down as the company expects to more than double vehicle production this year to 20,000 units.

U.S. carmaker Tesla will acquire parts of the insolvent German high-tech parts maker Manz AG , including more than 300 employees at its site in Reutlingen city in the southwest, the German company said on Tuesday.

Rivian Automotive beat Wall Street’s fourth-quarter earnings expectations and achieved its first gross quarterly profit — a target closely watched by investors — but is forecasting lower sales in 2025.

Chinese electric vehicle maker BYD is giving something away. Instead of delighting customers, it seems to have annoyed them, showing how hard it is to price cars and satisfy everyone as artificial intelligence makes them better.

The carmaker blamed the job losses on lacklustre demand for electric vehicles and “challenging geopolitical and economic conditions”.

Tesla Inc.’s sales plummeted 59% last month in Germany, where Chief Executive Officer, Elon Musk asserted himself in national politics like never before.