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...The pressure on Li comes after a production boom in China resulted in oversupply....
...[initiated] this disruption, so they are more motivated to continue to carry on,” Li said....
...Tesla’s market share in China dropped 2.6 percentage points from a year earlier to 4 per cent in April, according to the China Passenger Car Association....
...Xpeng pays dealers a commission based on a fixed percentage of the sales price of each vehicle under a “sales agent” model....
...While Li Auto became China’s first major EV start-up to turn a profit last year, it is facing a price war and fierce competition in the world’s largest auto market....
...Xpeng, Li Auto and Nio, has risen more than 20 per cent from its January low....
...Li Auto expects revenues of Rmb31.3bn ($4.4bn) to Rmb32.2bn in the first three months of 2024, short of a market consensus of Rmb36.4bn....
...CATL had a 38 per cent share of the global EV battery market in the first two months of 2024, according to South Korea’s SNE Research....
...The industry association expected Tesla to record sales of about 25,000 units in China this month, a 37 per cent decline from a year earlier....
...Lis RhodesConcord, MA, US...
...Over the weekend, Tesla also announced a price cut of Rmb14,000 ($1,933) for models sold in China....
...The device marks the latest chapter in the company’s comeback in the domestic smartphone market, write Nikkei Asia’s Cheng Ting-Fang and Lauly Li....
...Tesla as well as stiff competition from homegrown competitors such as Li Auto and BYD....
...First by a presidential decree in April 2022....
...Chinese smartphone maker Xiaomi jumped as much as 16 per cent on Tuesday after the company’s first electric vehicle appears to have pulled off an early success in an industry overwhelmed by competition and a...
...Despite a dominant market position, CATL faced challenges from smaller rivals that sold their battery products at a lower price last year....
...Chinese carmaker BYD posted a weaker-than-expected 81 per cent rise in its full-year net profit on Tuesday, as the Tesla rival felt the squeeze from intensifying competition and softening demand in the world...
...A deep dive into Apple’s annual official supplier list by Nikkei Asia’s tech correspondents Cheng Ting-Fang and Lauly Li reveals that the total number of suppliers from China increased to 52 in 2023, up...
...At a Shanghai store run by Chagee, a popular milk tea brand that allows customers to order at a discounted price of Rmb16 on a WeChat app, Jing Li, 30, was buying a set of takeaway drinks for her colleagues...
...“The customers have to trust you because it’s basically a mission-critical part of the production line....
...When Pi Li left Hong Kong’s M+ contemporary art museum last year, it came as something of a surprise....
...“This places huge pressure on BYD and Li Auto, the perennial leaders in the PHEV category, to defend their share,” said Automobility founder Bill Russo....
...It also announced plans for a cash dividend of Rmb22bn ($3.1bn)....
...“They didn’t leave much space for the SU7,” Li noted....
...Regarded as one of China’s biggest challengers to Tesla, Nio has not turned a profit almost a decade after its founding, and is lagging behind local peers such as Li Auto and BYD in sales growth....
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