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Technology Stocks : "NIO, XPEV, LI, BYD.. China's Quads

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Nov 5 3:59 PM EST

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From: roto	12/2/2024 7:16:41 PM
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Chinese EV makers’ ‘do-or-die’ moment, Hyundai’s US$500 million investment: 7 EV reads From China’s cutthroat clean energy vehicle market to Malaysia eyeing Southeast Asia’s EV hub crown, here are seven EV stories you may have missed SCMP Published: 3:00pm, 27 Nov 2024 1. Unprofitable Chinese EV makers face ‘do-or-die moment’ Unprofitable Chinese electric vehicle (EV) makers, ravaged by a discount war at home and higher tariffs abroad, are stepping up cost-cutting measures and new model launches as they strive to survive in the cutthroat market. 2. Malaysia eyes Southeast Asia’s EV hub with Hyundai’s US$500 million investment Malaysia has set its sights on becoming Southeast Asia’s hub for EV production, Prime Minister Anwar Ibrahim said as he welcomed a US$500 million investment by South Korean car giant Hyundai Motor to build a second assembly plant in the region. 3. Foreign carmakers are at risk of losing up to US$20 billion a year in China: UBS Foreign carmakers are at risk of losing up to US$20 billion in profit annually in China, amid intensified competition with domestic producers and a market shift toward electric cars and smarter vehicles, UBS Investment Bank says. 4. China’s EV production moves into fast lane as output hits 10 million Robots at work at a welding workshop of Voyah, a Chinese electric auto brand owned by Dongfeng Motor, in the Hubei provincial capital of Wuhan in central China on April 1, 2024. Photo: Xinhua China’s EV sector reached yet another milestone as annual production volume surpassed the 10-million-unit threshold amid mounting worries about overcapacity. 5. BYD set to usurp VW as China’s top carmaker amid surge in EV deliveries BYD is set to overtake perennial market leader Volkswagen as China’s biggest carmaker in 2024 after outselling the German company’s joint venture units in the first 10 months, as the growing popularity of battery-powered cars strengthens its market dominance. 6. Tech giant Baidu applies to launch autonomous vehicle trials in Hong Kong Mainland Chinese tech giant Baidu has applied to launch autonomous vehicle (AV) trials at Hong Kong airport. 7. Xiaomi revenue surges after EVs cross 100,000 threshold Xiaomi’s SU7 electric car displayed at a store in Shanghai on July 31. Photo: Shutterstock Chinese smartphone giant Xiaomi reported a 30.5 per cent jump in revenue for the third quarter on the back of a global smartphone market recovery and a strong push in EVs. scmp.com .

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