NIO Inc

A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai)Vcg | Visual China Group | Getty ImagesLIVONIA, Mich. – A small electric vehicle is having a big impact on the global automotive industry.It's not the EV itself that's making waves but its price — and its potential to disrupt domestic auto industries around the world.The China-built BYD Seagull, a small all-electric hatchback, starts at just 69,800…

Nio holds a product event in Shanghai on Sept. 21, 2023.Evelyn Cheng | CNBCBEIJING — Chinese premium electric car company Nio said Thursday it plans to reveal its mass market brand in May.Executives confirmed the new brand will be named "Le Dao" in Chinese, and said the name is meant to reflect families — the target consumer segment — having a happy time together.Nio, founded in late 2014, has so far focused on the higher end of the market with SUVs and sedans that can cost more than Tesla's Model S or Model Y, but come…

New cars of the "Dolphin" model from Chinese car manufacturer BYD are in the harbor. Picture Alliance | Picture Alliance | Getty ImagesChinese electric vehicle makers shares listed in Hong Kong fell on Tuesday as worries of price wars in the sector grew.China's EV market, the world's largest and most crowded, is seeing fierce competition from local players as well as U.S. giants like Tesla to win as much market share as possible through promotions and price cuts."While across the board price cuts will put pressure on…

Chinese consumer electronics company Xiaomi revealed Thurs., Dec. 28, 2023, its long-awaited electric car, but declined to share its price or specific release date.CNBC | Evelyn ChengBEIJING – Chinese smartphone company Xiaomi believes it's identified a consumer niche that will pay up for its upcoming electric car in a fiercely competitive market."We think it's a good starting point for us in the premium segment because we have already 20 million premium users in China based on the smartphone," Xiaomi Group President…

A Tesla Inc. Model 3 long range electric vehicle charges at the Tesla Supercharger station in Kettleman City, California, U.S., on Wednesday, July 31, 2019.Patrick T. Fallon | Bloomberg | Getty ImagesShares of electric vehicle makers and Tesla's Asia suppliers tumbled on Thursday after the EV maker missed fourth quarter revenue and profit targets and warned of slower sales this year.On Wednesday, Tesla said during an investor presentation that vehicle volume growth in 2024 "may be notably lower" than last year's growth…

Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. Slaven Vlasic | Getty ImagesElon Musk said Chinese electric auto makers will find "significant" success outside of China, even as his firm, Tesla, faces intense competition from these same companies."The Chinese car companies are the most competitive car companies in the world. So, I think they will have significant success outside of China depending on what kind of tariffs or trade…

A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai)Vcg | Visual China Group | Getty ImagesShares of Chinese electric car makers have started the new year in reverse gear, as intense competition and continuing price wars pressure the profitability of automakers, while the overall market sentiment remains weak.Hong Kong-listed shares of Nio and Xpeng have plummeted more than 18% and 16%, respectively,…

Chinese electric vehicle company Xpeng told CNBC on Friday that its newly launched X9 model could be a "game changer" for the industry.Xpeng launched the X9 large 7-seater EV on Jan. 1, a car built on its SEPA2.0 architecture for the Chinese market. The X9 series are priced between 359,800 yuan to 419,800 yuan (about $50,360 to $58,760) with immediate deliveries."For X9, we actually anticipate this to be a game changer for the battery electric vehicles segment for MPVs (multi-purpose vehicles)," Brian Gu, vice chairman…

BYD's new luxury brand Yangwang is selling its first model, the U8, for more than 1 million yuan (US$160,000).CNBC | Evelyn ChengBEIJING — BYD has overtaken Tesla again by the sheer number of new energy vehicles produced in 2023, thanks in part to the Chinese automaker's hybrids and wide range of offerings in a lower price range.While Tesla's Model Y was the best-selling purely battery-powered car in China for the six months ending in November, BYD vehicles accounted for four of the top 10 such cars sold during that time.…

Chinese smartphone company Xiaomi revealed on Dec. 28, 2023, its forthcoming electric car, the SU7 sedan.CNBC | Evelyn ChengBEIJING — Chinese consumer electronics company Xiaomi on Thursday detailed plans to enter China's oversaturated electric vehicle market and compete with automaker giants Tesla and Porsche with a car model it says it spent more than 10 billion yuan ($1.4 billion) to develop.The company's car model, known as Xiaomi SU7, "is in trial production and it will hit the domestic market in a few months," CEO…