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...That scale contributes to a significant cost advantage. For vehicles in the same segment, Chinese cars cost 20 per cent to 30 per cent less to make, reckons Patrick Schaufuss at McKinsey....
...The question [if he deploys FSD], is how much longer does he have a technology advantage on that?”...
...The company has also been hit by a global slowdown in EV sales growth and cut thousands of jobs. Tesla did not respond to a request for comment....
...“The risk is that we’re going to be stalling in a situation which is going to be characterised by endless debate about what needs to be done, giving ever-increasing advantages to other places like the US...
...This shift will have major ramifications for both the auto industry and the energy sector.”...
...“Xiaomi Auto is striving for the ascendancy of China’s auto industry,” Lei said....
...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...
...However, the risk is if EV demand picks up quickly, through mass-market production for example, Toyota might not be ready to take advantage....
...Tesla’s sales figures also “suggested a sharp deterioration in growth” in the US, said Tom Narayan, an auto analyst at RBC Capital Market, while the Model Y and 3, which account for more than 90 per cent...
...The lull in EV sales is having a damaging impact on the auto industry....
...Tesla has cut prices several times — including this week — to buoy sales, although this has led to a collapse in the re-sale value of its cars....
...The global auto industry manufactured 10.5mn electric vehicles last year — and expects to produce 13.5mn this year, according to data pooled from suppliers and forecasters by one auto investor....
...“It has now caused a major headache for auto companies that rely on these ships....
...China’s auto industry is the world’s biggest across sales, production and, since last year, exports....
...In China, by far the biggest auto market, BYD’s low-cost pure battery and plug-in hybrids account for about one-third of all new electric vehicles sold....
...Shares in Li Auto dropped 6.1 per cent after the company announced new price cuts across its line-up on Monday morning in an effort to boost slowing sales growth....
...The company’s value had increased since then and it could now be worth roughly €4bn in a deal, one of the people said.Deliberations were at an early stage and the company could also pursue the sale of a...
...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...
...In the midst of declining auto sales and rising interest rates, Carvana completed a debt restructuring last year, agreeing with bondholders such as Apollo Global Management to delay near-term cash interest...
...Your default choice would typically be to run a “dual track” process exploring a public listing alongside a sale — and then select whichever exit path will maximise your financial return....
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