Chinese electric vehicle (EV) makers are speeding up their pivot to the premium segment, where they hope to secure higher profit margins and dodge the cutthroat market’s most vicious price competition. New models launched by carmakers including Nio and Seres also mount a challenge to Tesla’s bestselling Model Y in the world’s largest EV market. “Intensified efforts to gain ascendancy in the premium segment show the carmakers’ confidence in their technologies,” said Chen Jinzhu, CEO of...
We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. Chinese firm Xpeng builds driverless cabs, challenging Tesla’s FSD software Chinese electric vehicle (EV) maker Xpeng has begun mass production of autonomous cabs powered by its own chips, likely to mount yet another challenge on Tesla as both companies pursue a leading position in...
Chinese electric vehicle maker Nio has staked out a contrasting position on pricing to its domestic rival, Li Auto, with a top executive suggesting that carmakers must prioritise profitability as material costs climb. Nio senior vice-president Ji Huaqiang, in charge of manufacturing, logistics and operations, told reporters on Tuesday that perennially operating at a loss would be detrimental for any carmaker, even in the pursuit of market share. “The recent spike in raw material prices has had a...