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BYD
A fuel tanker truck leaves a gas station in Beijing, March 28, 2026. Photo: AP
Business of climate change

Asia-Pacific firms face credit pressure from Iran war energy shock, S&P says

Higher energy prices ratchet up pressure on manufacturing businesses to maintain their profit margins amid rising raw material costs.

Electric & new energy vehicles

China’s lithium giant Ganfeng sees profit jump as EV, ESS battery demand soars

CATL

CATL market cap tops US$293 billion as shares surge on mining arm

Electric & new energy vehicles

China’s EV battery giant CATL to set up mining arm to secure supply chain

Global energy shock accelerates CATL’s upstream push as demand for EV batteries and storage systems surges.

CATL reported a net profit of 20.74 billion yuan in the three months to March, up 48.5 per cent from the previous quarter and beating analysts’ estimates. Photo: AFP
CATL reported a net profit of 20.74 billion yuan in the three months to March, up 48.5 per cent from the previous quarter and beating analysts’ estimates. Photo: AFP
SCMP Highlights

Brazil blacklists BYD, some foreign brands may exit China: 7 EV reads

From Telsa regaining world’s top spot to Chinese carmakers gaining rapid ground in Europe, here are seven EV stories you may have missed.

Electric & new energy vehicles

Shanghai Gigafactory has potential to build humanoid robots: Tesla China head

Shanghai Gigafactory could be a ‘golden key’ to advancing Elon Musk’s hopes of commercialising the technology swiftly, Tesla China head says.

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Hong Kong stock market

Chinese EV stocks jump on surging exports, domestic demand hopes

Nio, BYD and Xpeng advance after data shows EV exports more than doubled to just under 1 million in the first quarter.

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A photo taken on April 10, 2026, shows vehicles awaiting export at Yantai Port in east China’s Shandong Province. Photo: Xinhua
A photo taken on April 10, 2026, shows vehicles awaiting export at Yantai Port in east China’s Shandong Province. Photo: Xinhua
Electric & new energy vehicles

EVs | Chinese carmakers gear up for L3 self-driving roll-out

Industry ramps up testing of vehicles with Level 3 autonomous driving capabilities as regulators publish draft safety standards set to take effect in July 2027.

Electric & new energy vehicles

Chinese cars squeeze out Asian rivals in Europe as exports top 1 million

Surging EV shipments boost China’s market share at the expense of Japan and South Korea, while EU exports to China slump.

Electric & new energy vehicles

How China’s EV battery king CATL powers up profits while EV makers struggle

Consolidation, scale and technology advantages enhance pricing power as firm’s domestic market share hits 18-month high.

The world’s bestselling power battery maker for nine years in a row, CATL in March reported a net profit of 72.2 billion yuan. Photo: Handout
Electric & new energy vehicles

Hyundai spearheads foreign EV comeback push in China with Ioniq brand

South Korean carmaker bets on local partnerships and technology as global brands prepare fresh push into China’s fast-moving EV market.

The new cars will be “shaped specifically for the Chinese market, integrating local technologies and partnerships”, according to Hyundai. Photo: Handout
The new cars will be “shaped specifically for the Chinese market, integrating local technologies and partnerships”, according to Hyundai. Photo: Handout
Electric & new energy vehicles

Solid-state battery firms in China and US charged up for IPO run

A trio of battery developers are advancing listing plans as high oil prices and geopolitical tensions boost interest in energy storage.

Electric & new energy vehicles

Volkswagen tests China’s appetite for locally developed EVs

The three models, which will be launched over the next two weeks, use technology developed by Volkswagen’s Chinese partners.

Electric & new energy vehicles

Chinese carmakers bet on solid-state batteries to drive next EV phase

Carmakers push next-generation battery tech as they chase longer range and improved safety, despite high costs.

Analysts say the technology promises higher energy density, improved safety and longer driving range. Photo: Shutterstock
Electric & new energy vehicles

New Energy | Green hydrogen drive may help China reach carbon-neutral goal

Renewable power and government support may slash the costs of green hydrogen production and convince potential users to adopt the fuel.

Green hydrogen drive may help China reach carbon-neutral goal
Electric & new energy vehicles

More foreign marques face a do-or-die moment as Chinese buyers shun petrol cars

Following Skoda’s exit from China, other carmakers with falling sales are also likely to close shop this year, analysts say.

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Electric & new energy vehicles

Tesla outraces China’s BYD in pure electric car sales to regain world’s top spot

Shrinking subsidies, new taxes sap China’s EV demand, giving Tesla an edge in global deliveries for first time since fourth quarter of 2024.

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Electric & new energy vehicles

Leapmotor targets global growth with Europe R&D hub, eyes Canada assembly

Chinese EV maker lifts overseas sales target as rising fuel costs and easing tariffs boost demand abroad.

A Leapmotor C10 model car is displayed at a showroom in its headquarters in Hangzhou. Photo: Getty Images
A Leapmotor C10 model car is displayed at a showroom in its headquarters in Hangzhou. Photo: Getty Images
Electric & new energy vehicles

China EV makers surge back in March as subsidies and financing spur demand

Carmakers report strong month-on-month gains as policy support and new financing schemes lift buyer sentiment.

SCMP Highlights

China’s electric cars and Iran war, VW pulls Skoda: 7 EV reads

From some Chinese carmakers raising prices to Xiaomi’s fresh fight with Tesla, here are seven EV stories you may have missed.

Business of climate change

Ganfeng Lithium sees surge in battery demand amid China-US energy rivalry

Executives project an ‘explosive growth’ in energy storage, with Chinese firms extending their lead amid AI and data centre demand.

AI computing and data centre demand are new power consumption drivers, according to Ganfeng Lithium. Photo: Getty Images
Electric & new energy vehicles

Middle East oil shock jolts EV demand, putting Chinese exports in fast lane

Orders for Chinese NEVs are rising along with footfalls at EV dealerships both at home and overseas, according to Nomura analyst.

China’s self-developed car carrier BYD Shenzhen, the world’s biggest, sets off on its maiden voyage with more than 7,000 new energy vehicles on April 27, 2025, from Suzhou, Jiangsu province. Photo: Imago via Zuma Press/TNS
China’s self-developed car carrier BYD Shenzhen, the world’s biggest, sets off on its maiden voyage with more than 7,000 new energy vehicles on April 27, 2025, from Suzhou, Jiangsu province. Photo: Imago via Zuma Press/TNS
Mainland China

How China’s EV makers think they can outrun disastrous price wars

At Beijing’s urging, an industry largely built on discounting must hold the line on prices and convince buyers to pay for better technology.

Electric & new energy vehicles

BYD’s four-year profit run ends, eyes global markets as next engine of growth

Earnings at China’s EV leader fall short of expectations amid intense domestic competition.

Electric & new energy vehicles

Pain at the pump fuels EV rush in China, driving a timely boost for carmakers

Brent crude above US$110 is pushing mainland buyers away from petrol cars, lifting China’s EV makers despite fading subsidies.

The oil price surge could offer timely relief for EV makers, which have been grappling with softer demand following the rollback of subsidies. Photo: Xinhua
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