Tesla continues to lead the BEV rankings in 2023 with a 19.9 percent market share, followed by BYD with 17.1 percent.
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BYD owners drove a cumulative total of about 3.76 billion kilometers from February 10-17, and Tesla owners in China drove more than 700 million kilometers, according to their numbers.
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The process of new manufacturers replacing old ones in the process of establishing a new market order will likely continue for several years until a new landscape is formed, said Cui Dongshu of the CPCA.
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Neta cut the prices of almost its entire model range, with the compact SUV Neta X seeing the highest reduction.
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Wang has restructured Xpeng's overseas business team, adding the Middle East as a key market and will invest more resources, according to local media.
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BYD is looking to accelerate the replacement of traditional fuel vehicles with NEVs at lower prices, and more automakers following suit is expected to speed up the process.
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Lotus Technology plans to merge with L Catterton Asia Acquisition Corp in order to list on the Nasdaq, issuing up to 181,315,064 ordinary shares.
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BYD makes its hybrid models less expensive than its petrol counterparts in a strong second offensive against them.
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BYD will launch new variants of the Qin Plus and Chaser 05 in Glory Editions on February 20, both starting at RMB 79,800, or $11,100, according to local media.
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Among the top 5, Tesla only produces BEVs, while the other automakers produce both BEVs and PHEVs.
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