MG leads Chinese cars sales boom

Once one of Britain’s automotive icons, MG is now its own convincing argument for buying Chinese

Chinese brands are finally making serious headway in Australia. And leading the belated charge is MG.

The brand once renowned for producing affordable British sports cars is now building and shipping a range of even more affordable hatchbacks and SUVs from China. MG was among the remaining vestige of the UK’s indigenous volume-selling car industry before being acquired by the Chinese and is now owned by SAIC Motor, the massive automotive group that also owns LDV and Roewe.

In 2020, MG has sold 9628 vehicles in Australia, 3653 more than in 2019. That’s an increase of 61.1 per cent for the year to date, in a market that has shrunk by 20.5 per cent. Furthermore, MG’s surge in sales this year accounts for over half the extra volume of Chinese product sold in Australia

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Chinese automakers show off concept sportscars, amid auto market slump

  • State-owned Guangzhou Automobile Group (GAC) revealed Saturday at the Beijing auto show an electric sports car called “Enpulse.”
  • Hongqi, a subsidiary of the state-owned auto group FAW, also showed off its S9 hybrid sports car to a domestic audience for the first time.
  • Auto sales in the world’s largest car market are down 9.7% for the first eight months of the year from the same period in 2019, according to the Ministry of Industry and Information Technology.



a purple car parked in a parking lot: GAC unveiled its electric sports car prototype on Sept. 26, 2020, at the Beijing auto show.


© Provided by CNBC
GAC unveiled its electric sports car prototype on Sept. 26, 2020, at the Beijing auto show.

BEIJING — Some of the flashiest items Chinese companies had on display at the first major auto show since the coronavirus pandemic were concept sports cars.

While vehicle sales for state-owned Guangzhou Automobile Group (GAC) fell 9.87% from a year ago in the first eight months of 2020, following a decline of nearly

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Chinese smart car supplier PATEO in talks to raise $147 million

BEIJING (Reuters) – Chinese smart vehicle supplier Shanghai PATEO Electronic Equipment Manufacturing Co is in talks with 22 potential investors to raise 1 billion yuan (114.3 million pounds) before its listing on the STAR market, a company spokesman told Reuters.

The Shanghai-based company raised 700 million yuan in its latest funding round in April at a 4.6 billion yuan valuation.

Its investors include Xiaomi Corp 1810.HK, Dongfeng Motor Group 0489.HK and Suning.Com 002024.SZ, the spokesman said, adding the new funding would be used for research and development.

The 11-year-old company is looking to apply for a STAR board listing in Shanghai by the end of this year.

PATEO’s products include sensors for autonomous driving as well as intelligent in-car software.

Its clients include Volkswagen AG VOWG_p.DE, FAW Group and Dongfeng Motor 0489.HK.

As the global auto industry pursues an electric and intelligent future, Chinese automakers and

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Chinese Startup Xpeng Shows Off New Flying Vehicle At Beijing Auto Show

KEY POINTS

  • The flying electric car can carry two people and levitate from 5-25 m
  • It was not made clear when the car will hit the market
  • Alibaba-backed Xpeng went public on the New York Stock Exchange in Aug

Xpeng, an Alibaba-backed electric vehicle startup based in China that is developing a series of electric flying vehicles, unveled its first prototype at the Beijing Auto Show on Saturday.

The vehicle, named Kiwigogo, can carry two passengers and levitate at least 5 meters and up to 25 meters, the South China Morning Post reported. It looks like a drone and is installed with eight turbofans. Kiwigogo was developed by Xpeng Heitech, a tech unit of Xpeng (NYSE: XPEV).

The flying car is still in its concept phase and there is little clarity as to when it will hit the market.

“Xpeng’s efforts in the electric air-enabled mobility space will remain focused

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Energized by Tesla, Chinese electric car startups are charging ahead

BEIJING — China’s electric vehicle startups are on the charge again, thanks to Tesla.



a group of people walking in front of a building


The country’s growing fascination with the U.S. pioneer’s sleek designs and cutting-edge technology is giving a string of second-wave home-grown Tesla wannabes the traction to raise more funding, expand production and boost sales.

Chinese EV startups NIO, XPeng Inc, Li Auto and WM Motor have raised more than $8 billion among them this year, and now rival Aiways is planning to go public, its co-founder and President Fu Qiang told Reuters.

Speaking ahead of the Beijing Motor Show, which starts on Saturday, Fu said the relative success of U.S. initial public offerings (IPO) by XPeng and Li Auto had helped fuel the company’s ambitions to list.

Since it was founded in 2017 in Shanghai, Aiways has raised “no more than 10 billion yuan” and it will need to secure more funding from some private equity funds

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Electrified by Tesla, Chinese startups are on the charge

BEIJING (Reuters) – China’s electric vehicle startups are on the charge again, thanks to Tesla.

An Aiways U5 electric car is displayed at a company store in Shanghai, China September 22, 2020. Picture taken September 22, 2020. REUTERS/Aly Song

The country’s growing fascination with the U.S. pioneer’s sleek designs and cutting-edge technology is giving a string of second-wave home-grown Tesla wannabes the traction to raise more funding, expand production and boost sales.

Chinese EV startups NIO, XPeng Inc, Li Auto and WM Motor have raised more than $8 billion between them this year and now rival Aiways is planning to go public, its co-founder and President Fu Qiang told Reuters.

Speaking ahead of the Beijing auto show which starts on Saturday, Fu said the relative success of U.S. initial public offerings (IPO) by XPeng and Li Auto had helped fuel the company’s ambitions to list.

Since it was founded in

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Chinese EV maker Nio launches battery leasing service, eyes global market

BEIJING/SHANGHAI (Reuters) – Chinese electric vehicle (EV) maker Nio Inc NIO.N has launched a battery leasing service that will allow drivers to buy an EV without owning the battery pack – one of the most expensive EV components – thereby lowering the starting price of its cars.

The service, called “battery as a service” (BaaS), entails drivers paying a monthly rental fee for use of the batteries.

The cheapest Nio car after subsidies is now an ES6 sport-utility vehicle (SUV) priced 273,600 yuan ($39,553) without ownership of the battery pack, versus 343,600 yuan including the pack.

“We believe with BaaS, more customers of gasoline cars will consider electric vehicles,” Nio’s chief executive William Li told reporters.

Nio operates 143 battery-swapping stations around China, where drivers can swap spent battery packs for fully charged replacements. Li said Nio was building a new battery-swapping station in China every week and planned to

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Chinese EV maker Nio starts battery leasing service to make electric cars cheaper

BEIJING/SHANGHAI — Chinese electric vehicle (EV) maker Nio Inc has launched a battery leasing service that will allow drivers to buy an EV without owning the battery pack — one of the most expensive EV components – thereby lowering the starting price of its cars.

The service, called “battery as a service” (BaaS), entails drivers paying a monthly rental fee for use of the batteries.

The cheapest Nio car after subsidies is now an ES6 sport-utility vehicle priced 273,600 yuan ($39,553) without ownership of the battery pack, versus 343,600 yuan (just under $50,000) including the pack. Customers could still opt to purchase the battery if they wanted to, or they can lease it at a rate of $142 per month or $1,570 annually.

“We believe with BaaS, more customers of gasoline cars will consider electric vehicles,” Nio’s chief executive William Li told reporters.

Nio operates 143 battery-swapping stations around China,

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