Chinese automaker BYD outsold Tesla by nearly 200,000 vehicles globally in the third quarter of 2022, according to the latest data released by the two companies.
Over the past two years, a steady decline in the capacity utilization rate among traditional automakers has become an intensifying industry-wide trend, due to the rapid development of the new energy vehicle market.
BYD Auto, China's leading new energy vehicle manufacturer, has recently edged Tesla to become the world's top-selling EV brand for the first time, according to a global sales report by Counterpoint.
NIO's second sedan ET5 officially started delivery in cities including Shanghai and Suzhou. Aiming at the pure electric, mid-sized luxury vehicle market, the ET5 will compete against products such as the Tesla Model 3 and BMW 3 Series.
Xiaomi Auto has reshuffled its two key executives, giving the product division that was under Vice President Li Xiaoshuang, who is now based in Shanghai in charge of the company's supply chain, to Vice President Yu Liguo.
On the afternoon of September 30, Chinese new energy vehicle firm Li Auto held a product launch event for the highly-anticipated Li L8 SUV.
Leading Chinese car manufacturing group Geely announced on September 30 that it had completed its acquisition of a 7.60% stake in British luxury marque Aston Martin.
Although Tesla has denied the rumor of price reductions, the news has already had a certain impact on the pricing strategy and rhythm of new products released by XPeng Motors and Li Auto.
Xiaomi's first engineering prototype car had been completed on September 28. The next important step for Xiaomi Auto will be the completion of its automobile factory by the end of the year.
After public listings by XPeng, NIO and Li Auto in China and overseas, the second echelon of the country's electric vehicle industry, including firms such as Leapmotor, WM Motor, and Aiways, is embarking on a new round of IPOs in a bid to secure more funding.
Chinese electric vehicle startup Leapmotor was officially listed in Hong Kong on September 29, with an opening price of HK$41 ($5.22) per share, 14% lower than its issue price of HK$48 ($6.11).
On September 28, BYD launched three models for the European market, including Han, Tang and ATTO3 (known as Yuan PLUS in China). The prices for these three models, however, are much higher than those in China.
Geely-backed premium electric vehicle manufacturer Polestar will premiere its first SUV, Polestar 3, at a launch event on October 12, in Copenhagen, Denmark.
He Xiaopeng, the founder of Chinese EV maker XPeng, recently stepped down as chairman of XPeng Aeroht, an affiliate of XPeng and a flying car company.
NETA Auto, a vehicle marque under Chinese firm Hozon Auto, announced on September 28 that it will enter the Israeli market after it signed a strategic cooperation agreement with Blilious Group, Israel's leading distributor.