China’s EV sector is poised for ‘inevitable’ consolidation, says Bain consultant

The electric vehicle sector is seeing its “most exciting moment” now — and consolidation in the sector cannot be avoided, says Bain & Company’s Helen Liu. “I would say that consolidation is an inevitable trend in this industry,” Liu, partner at the consultancy firm, told CNBC’s “Capital Connection” on Tuesday. She cited reasons such as … Read more

China’s booming electric car industry is much bigger than just Nio and Xpeng

SAIC-GM-Wuling Automobile Co. electric vehicles are plugged in at charging stations at a roadside parking lot in Liuzhou, China, on Monday, May 17, 2021. Qilai Shen | Bloomberg | Getty Images BEIJING — While investors watched dramatic surges in the stock prices of Chinese electric car makers like Nio and Xpeng, tens of thousands of … Read more

Warren Buffett-backed electric carmaker BYD sees August sales surge more than 300%

BYD’s Han electric car, pictured here at the 2021 Shanghai auto show, is one of the most popular new energy vehicles in China. Evelyn Cheng | CNBC GUANGZHOU, China — BYD sold 61,409 new energy vehicles in August, more than four times the amount sold a year ago, as demand for electric cars continues to … Read more

As China tightens data rules, Xpeng says it’s on the ‘right side’ of regulation

A new Xpeng P7 car is shown in the Xpeng Motors flagship store in a shopping mall. Xpeng P7 is one of the two popular models of Xpeng motors. Zhang Peng | LightRocket | Getty Images GUANGZHOU, China — Xpeng‘s president says the Chinese electric vehicle maker is on the “right side of the regulation,” … Read more

Fuel-cell vehicles are set for big gains in China’s commercial truck market, JPMorgan says

Hydrogen fuel cell vehicles are set to become a major player in China’s commercial truck market, predicts JPMorgan’s Elaine Wu. “Currently, the fuel cell vehicles account for less than 5% of the commercial truck market in China and that could grow to about one-third of total market share in 2050,” Wu, head of Asia ex-Japan … Read more

Chinese Tesla rival Xpeng expands production capacity as competition heats up

A Xpeng P7 electric car is on display during the 18th Guangzhou International Automobile Exhibition at China Import and Export Fair Complex on November 20, 2020 in Guangzhou, Guangdong Province of China. VCG | Visual China Group | Getty Images GUANGZHOU, China — Chinese electric carmaker Xpeng is doubling the production capacity at one of … Read more

Chinese Tesla rival Nio narrows losses as revenue surges 127%

Nio plans to begin deliveries of its ET7 electric sedan in 2022. Evelyn Cheng | CNBC GUANGZHOU, China — Nio shares rose more than 1% in after-hours trade on Wednesday after the Chinese electric carmaker posted a narrower than expected loss and a surge in revenue. The start-up lost 0.42 yuan (US$0.07) per share in … Read more

Nasdaq-listed Chinese electric carmaker Li Auto to raise up to $1.93 billion from Hong Kong listing

A Li Xiang One hybrid SUV is on display during the 18th Guangzhou International Automobile Exhibition at China Import and Export Fair Complex on November 23, 2020 in China. Li Zhihao | Visual China Group | Getty Images GUANGZHOU, China — Chinese electric vehicle start-up Li Auto plans to raise around $1.93 billion in a … Read more

Stocks making the biggest moves premarket: AutoNation, Cal-Maine Foods, Tractor Supply and more

Check out the companies making headlines before the bell: AutoNation (AN) – The auto retailer reported quarterly earnings of $4.83 per share, well above the $2.81 consensus estimate. Revenue was also above consensus, with same-store new car sales up 42% over a year ago and used car sales up 37%. AutoNation added 1.1% in premarket … Read more

Chinese EV buyers want luxury — and they’re looking somewhere besides Tesla, says fund manager

China’s booming electric vehicle sector presents a “great opportunity” for domestic companies and fund manager Jian Shi Cortesi says she is “very enthusiastic” about the sector. Speaking during CNBC Pro Talks on Wednesday, Cortesi said there are “big winners” coming from the sector which has seen an explosive growth. The electric vehicle market in China … Read more