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...Hong Kong-listed shares in Chinese electric-vehicle maker Li Auto dropped 7 per cent on Friday, after the company slashed its January-March sales volume forecast due to lower than expected order intake....
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...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...
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...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....
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...One security that the water sector can rely on is guaranteed future demand for their commodity....
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...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...
...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....
...Europe’s auto companies should be using it to catch up with more competitive Chinese rivals. Read more here. There are no certainties in life....
...The billionaire family behind the discount chain Home Bargains paid themselves a £36mn dividend last year after the retailer notched up a rise in profits and sales amid the cost of living crisis....
...“Xiaomi Auto is striving for the ascendancy of China’s auto industry,” Lei said....
...Among those concerned about a swift rollout of electric vehicles is the United Auto Workers union, which has endorsed Biden for 2024....
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