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Western take on much-loved Chinese bestseller hits wrong notes for state media and broader audience
...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....
...The company had put “excessive” emphasis on sales performance, said chair Xiang Li....
...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....
...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 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....
About 14,000 jobs set to go as brutal price war and EV slowdown hit US automaker
...$860mn) for the first quarter of 2024, below analysts’ expectations, as the company is grappling with a bruising price war triggered by Tesla as well as stiff competition from homegrown competitors such as Li...
From Alan Riley, Senior Fellow, Atlantic Council, Washington, DC, US
World’s largest maker of batteries for EVs reports mixed fourth-quarter results as demand growth softens
Shenzhen Inovance founder says automation tech is indispensable to global supply chains
...Rather than give up, Li overhauled Boers-Li and established himself as a gallerist. By 2009, he was showing artists such as Qiu Anxiong and Liang Yuanwei at Art Basel and New York’s Armory Show....
...“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....
...“They didn’t leave much space for the SU7,” Li noted....
...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...
...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....
...Li Yunfei, general manager of branding and public relations at BYD, said in a recent social media post that the company was starting “a grand showdown with gas cars”....
US carmaker reclaims crown as world’s largest seller of battery electric cars after Chinese rival suffers bigger drop
...offer Taiwan Semiconductor Manufacturing Co, the chip powerhouse making key AI chips and processors for Nvidia, Apple and AMD, some $6.6bn in grants, Nikkei Asia’s Ken Moriyasu, Cheng Ting-Fang and Lauly Li...
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