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China's Li Auto pins hopes on first all-electric model

Reuters · 1y ago

China's Li Auto pins hopes on first all-electric model

Chinese electric vehicle (EV) startup Li Auto has launched its first pure electric model, the MEGA multi-purpose vehicle (MPV). The company expects it to become its top seller among cars priced above half a million yuan. Li Auto also unveiled higher-priced versions of its existing L series and announced plans to invest at least 6 billion yuan ($833.6 million) in building charging stations. The MEGA Max, the fastest-charging mass-produced car according to founder Li Xiang, starts deliveries on March 11 and can travel 500km on a 12-minute charge. Li Auto aims to pay factory workers at levels comparable to Japan and Germany within three years.

Related News

China industry minister meets with Apple's Tim Cook - The Economic Times

Economic Times

Economic Times · 1m ago

China industry minister meets with Apple's Tim Cook - The Economic Times

China’s industry minister, Li Lecheng, met with Apple CEO Tim Cook in Beijing, expressing hopes for Apple's continued expansion in the Chinese market. Li assured that China would maintain a favorable business environment for foreign companies like Apple, encouraging ongoing investment and cooperation. This meeting highlights China's intent to foster a supportive climate for international business engagement, with Apple being a significant player in the Chinese technology landscape.

Tesla’s full self-driving rivals are in China

Livemint

Livemint · 1y ago

Tesla’s full self-driving rivals are in China

China is rapidly catching up with the West in terms of driver automation technology. Many Chinese companies, including Baidu, XPeng, Li Auto, NIO, and Huawei, are making significant progress in developing driverless taxis and driver-assistance systems for electric vehicles. These systems, comparable to Tesla's "full self-driving" software, rely on artificial intelligence rather than detailed mapping and coding. Chinese regulators have also shown openness to allowing "Level 3" automated driving on public roads, where the human driver no longer needs to pay attention under certain conditions. Analysts expect China to dominate the rollout of Level 3 vehicles in the coming years. This progress in driver automation complements China's already dominant position in electric vehicle technology. Overall, China's advancement in this area could potentially challenge the West's leadership in automation.

US trying to kill Chinese tech only makes it stronger

Money Control

Money Control · 1y ago

US trying to kill Chinese tech only makes it stronger

The US's attempts to hamper China's technological rise may inadvertently be giving its rival a boost. China's Premier Li Qiang called for the world to lean into clean energy, artificial intelligence, and biotech to spark a fourth industrial revolution. However, this prescription clashes with the ongoing technological trade war between the US and China. Despite US efforts, China is still heavily investing in research and development, with significant government backing. China is making advancements in areas like lithium-ion batteries and electric vehicles, potentially closing in on the US. By trying to impede China's progress, the US may be making it more powerful.

AI titan Nvidia ramps up collaboration with Chinese auto giants

Economic Times

Economic Times · 1y ago

AI titan Nvidia ramps up collaboration with Chinese auto giants

Nvidia has expanded its collaboration with Chinese electric car makers, including BYD, to work on the development of autonomous vehicles using AI technology. BYD, the world's largest EV company, will be adopting Nvidia's next-generation AV computer and its all-in-one vehicle control system, DRIVE Thor. Other Chinese EV firms, such as XPeng, Li Auto, ZEEKR, and GAC Aion, have also adopted the Thor platform. Nvidia's infrastructure for cloud-based AI development and training will be utilized by BYD as well. This move strengthens Nvidia's ties with the Chinese EV industry despite restrictions on exporting its powerful AI hardware to China imposed by the US.

Amazon Founder Jeff Bezos Secretly Backs EV Start-Up That Aims to Launch $25K Electric Truck

OutlookIndia

OutlookIndia · 8m ago

Amazon Founder Jeff Bezos Secretly Backs EV Start-Up That Aims to Launch $25K Electric Truck

Jeff Bezos has quietly invested in Slate Auto, a Michigan-based electric vehicle start-up, planning to launch a $25,000 electric truck in 2026. Inspired by the Ford Model T and Volkswagen Beetle, Slate Auto targets first-time car buyers with customizable options and upgrades. Originating from the Bezos-backed Re:Build Manufacturing, the start-up has raised substantial funds through disclosed rounds, aiming to make EV technology accessible. Production is planned for late 2026 in Indiana.

China EV adviser Dong Yang sees tech tie-ups resolving EU trade conflicts

Economic Times

Economic Times · 2y ago

China EV adviser Dong Yang sees tech tie-ups resolving EU trade conflicts

A Chinese policy adviser has suggested that China's auto industry should strengthen ties with European counterparts through technology partnerships to address trade conflicts. This comes as the European Commission initiated a probe into China's electric vehicle subsidies. The adviser recommended that China's government, industry associations, and companies work to minimize the impact on other markets as Chinese EV exports increase and build win-win relationships with local firms. Additionally, Chinese battery suppliers should deepen ties with European companies and establish a local battery supply chain in Europe. This cooperation could help accelerate the global transition to electric vehicles.

China's BYD to produce all EVs for Europe locally by 2028, executive says

Economic Times

Economic Times · 2m ago

China's BYD to produce all EVs for Europe locally by 2028, executive says

BYD, China's leading automaker, plans to locally produce electric vehicles (EVs) in Europe by 2028 to bypass EU tariffs, according to Executive Vice President Stella Li. The company, which has been selling plug-in hybrids in Europe, is setting up factories in Hungary and Turkey. BYD's hybrids are expected to outperform fully-electric models in the short term. The company also plans to introduce its luxury Yangwang brand in Europe in 2027, with global sales boosting growth outside China.

China’s Best Self-Driving Car Platforms, Tested and Compared

Wired · 1y ago

China’s Best Self-Driving Car Platforms, Tested and Compared

China-based companies XPeng, Nio, and Li Auto are making strides in the field of autonomous driving. These companies, which are listed on US stock exchanges, offer self-driving features on their current vehicle models. While Tesla has dismissed the need for lidar, the Chinese trio utilizes a variety of sensors, including lidar, for their autonomous systems. Each company has a different approach, with XPeng and Nio using multiple lidar units while Li Auto relies more on cameras. These companies are continuously improving their systems' capabilities and expanding their autonomous driving coverage in China and potentially worldwide.

National plan for key materials needed to secure EV future: Auto parts makers

Economic Times

Economic Times · 5m ago

National plan for key materials needed to secure EV future: Auto parts makers

Auto parts manufacturers in India are advocating for a national strategy to secure materials critical for the future of automobile manufacturing, including electric vehicles. This need arises as China's export restrictions on rare earths disrupt global supply chains. India, possessing adequate raw materials, could achieve self-sufficiency with processing centers. The auto parts industry saw a 10% revenue growth in FY25, driven by domestic demand and exports, showcasing India's manufacturing competitiveness.

Two-Wheeler EV Sales Slowdown In Sept; Ola Electric’s Market Share Drops, Bajaj Overtakes TVS

Inc42 · 1y ago

Two-Wheeler EV Sales Slowdown In Sept; Ola Electric’s Market Share Drops, Bajaj Overtakes TVS

- Bajaj Auto's electric scooter (escooter) sales reached an all-time high in September, surpassing TVS Motor in India. - Bajaj Auto recorded 18,933 electric vehicle (EV) registrations in September, up from 16,650 units in August. - Bajaj Chetak sales witnessed a remarkable 166% year-on-year growth. - The surge in Bajaj Auto's EV registrations indicates a shift in the Indian market towards electric two-wheelers. - This sales surge brings Bajaj Auto closer to Ola Electric in terms of registrations.

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