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...A version of this article was first published by Nikkei Asia on May 1. ©2024 Nikkei Inc. All rights reserved....
...Two of the standout winners of 2020 were Peloton, the pricey exercise bike company, and used auto retailer Carvana. Both were lossmaking business models with complex supply chains....
...But Tesla’s recent loss of market share in the country comes after a decision to slash prices in China in late 2022 sparked a price war that has driven intense competition in the domestic auto market....
...But, like earlier incarnations of its M-series chips, the M4 is likely to mark the beginning of a wider upgrade to its custom chips across Apple’s product range, paving the way for more advanced AI capabilities...
...Elon Musk’s decision to lower the price of Tesla vehicles in China in late 2022 sparked savage price cuts across the auto industry, leading to squeezed margins for both legacy multinational auto groups in...
...But for Xi Jinping’s administration in Beijing the rapid emergence of the nation’s advanced EV industry has created a different dilemma: how to manage the terminal decline of the sector devoted to internal...
...Morgan Stanley’s autos analyst has been moved to aphorise by Elon Musk’s surprise visit to Beijing....
...Demand recovery remains especially slow among auto and smartphone makers, two of the largest consumers of chips....
...The pressure is especially high in China, the world’s biggest auto market and the US EV maker’s second-largest market by sales, where competition between local EV makers and foreign carmakers is heating...
...“It will be a European-market Seagull, a new Seagull,” BYD senior executive Stella Li told reporters, including the UK’s Auto Express, in Shenzhen....
...The world’s biggest tech show is also a major auto expo, with South Korea’s Kia and Hyundai, Honda of Japan and Mercedes-Benz of Germany all taking part along with numerous suppliers....
...As the pandemic-era shortages showed, it isn’t only advanced chips that are economically critical....
...If the auto business is worth 3 or 4 times the multiple of a Stellantis or Volkswagen, then it would get a forward PE of, say, 20x....
...The established auto industry has been warning for months that mainstream buyers remain sceptical of electric cars because of their higher prices and need to recharge....
...That would put Tesla’s auto profitability back to where it was in 2017, shortly after the launch of the Model 3. Will the margin guidance be any better? And even if it is, will it be believed?...
...Tu Le, founder of the Sino Auto Insights consultancy, said local rivals including Xpeng, Nio and Li Auto had their own self-driving systems and would drop their prices “the second” they thought consumers...
...This shift will have major ramifications for both the auto industry and the energy sector.”...
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