Shein Weighs Moving Back to China to Ease Path for Hong Kong IPO
Shein, which is currently domiciled in Singapore, has consulted lawyers about setting up a parent company in mainland China, the people said, asking not to be identified discussing a private matter. The discussions were preliminary and there's no guarantee that Shein would go ahead with the move, they said.
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Bloomberg
23 minutes ago
- Bloomberg
AI Crucial to US in Cybersecurity Race Against China, Says Fmr. NatSec Official
Anne Neuberger, former deputy National Security Advisor for Cyber and Emerging Technology in the Biden administration, breaks down the Trump administration's interest in buying a 10% stake in US chip company Intel and discusses why AI is crucial to the cybersecurity race against China. (Source: Bloomberg)
Yahoo
an hour ago
- Yahoo
Can Tesla's New Model Y L Boost its Sales Volumes in China?
Tesla TSLA is facing a slowdown in one of its most important markets — China. The world's biggest car market is in the middle of a brutal price war, and local players are giving global names a run for their money. Once seen as the clear leader among foreign EV makers, Tesla is now under pressure from fast-rising local brands. BYD Co Ltd BYDDY has taken the lead in terms of volume, while Li Auto LI and NIO Inc. NIO are also drawing buyers rapidly. To win back some ground, Tesla has just launched the Model Y L—a stretched, six-seat version of its popular SUV made for Chinese buyers. The question is whether this new model can really give Tesla's sales the lift it needs in such a competitive market. Tesla's Sales in China Are Slipping The numbers show why this launch matters. In the second quarter of 2025, Tesla sold 128,803 EVs in China, a drop of 4.3% from the previous quarter and 11.7% from a year ago. Even with discounts and financing incentives, Tesla's sales of China-made vehicles fell again in July, reversing a short-lived uptick in June. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You What makes this more concerning is that the declines came despite a refreshed Model Y lineup being available. Tesla had blamed weak Q1 sales on a design changeover for the Model Y, but even after production ramped back up, deliveries failed to rebound. Globally, Tesla's deliveries fell 13.5% last quarter — its sharpest quarterly decline in more than a decade. Meanwhile, BYD, Li Auto and NIO are moving in the opposite direction. BYD sold more than 600,000 BEVs in Q2'25, beating Tesla for the third straight quarter. Li Auto continues to witness strong demand for its large SUVs, while NIO's new sub-brand, ONVO, targeting families with lower-priced options, is also being received well. Tesla's Big Bet: A Bigger Model Y In China, where customer preferences lean toward larger family cars with more seating capacity, the regular five-seat version has its limits. That's where the Model Y L comes in. The 'L' stands for long wheelbase, which means more legroom and a six-seat layout. Priced at RMB 339,000 ($47,180), the Model Y L is positioned above the five-seat variants but below the RMB 400,000 many expected. Deliveries are set to begin in September. That makes three distinct Model Y variants in China— RWD five-seat priced at RMB 263,500, long-range AWD five-seat at RMB 313,500 and the six-seat Model Y L at RMB 339,000. The Model Y L is Tesla's most expensive and longest-range SUV option yet, aimed at family buyers who want space without jumping to ultra-luxury options. Peer Check: NIO and LI Aren't Sitting Still Tesla is not stepping into an empty lane with the Model Y L. The six-seat SUV space in China has quickly become one of the hottest segments. Li Auto, for example, recently launched its Li i8, a six-seat family SUV that arrives just weeks before Tesla's new model. With prices ranging from RMB 321,800 to RMB 369,800 and deliveries commencing tomorrow, Li Auto is clearly aiming to dominate this family-oriented corner of the market. NIO is also making its presence felt through its ONVO sub-brand, which introduced the L90 SUV (on July 31) at an eye-catching starting price of just RMB 179,800. That drops even lower under its battery-as-a-service plan, making it far more accessible than Tesla's premium lineup. The ONVO L90 has already drawn significant early demand, with more than 4,000 units delivered in the first 10 days. By aggressively pricing and marketing these vehicles, LI and NIO are putting real pressure on Tesla in a segment where it hopes the Model Y L can stand out. Can the Model Y L Make a Difference? The Model Y L is clearly designed to win back Chinese buyers who want more space and flexibility. 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New York Times
an hour ago
- New York Times
Why Can't the U.S. Build 5-Minute E.V. Chargers?
China is dominating the electric vehicle market globally, accounting for more than 70 percent of global manufacturing in 2024, according to the International Energy Agency. Its E.V. makers have pulled ahead of U.S. car companies on both price and technology. Case in point: the five-minute charger. This past spring, two major Chinese companies announced breakthroughs in battery technology that will enable electric vehicles to drive hundreds of miles on a five-minute charge. After traveling to China to test drive new fast-charging cars sold by BYD, Patrick George, the editor in chief of InsideEVs, said Chinese models were 'pretty much a generation or two ahead of the rest of the world.' It's easy to imagine how five-minute charging might transform U.S. drivers' attitudes toward electric vehicles. Widely available power sources and a charge time roughly the same length as a stop to fill up a gas tank would go a long way to alleviate the range anxiety many cite as a hurdle to going electric. But car buyers in the U.S. aren't likely to get access to five-minute charging any time soon, analysts say. Here's why. BYD's fast-charging system depends on two things: a vehicle capable of charging quickly, and a charger that can deliver power from the grid to match. BYD, which is now the world's largest producer of electric vehicles, has developed a battery that has a peak charging capacity of 1,000 kilowatts, also known as a megawatt. This peak rate can add enough charge in five minutes to drive for about 250 miles. Most E.V.s on the market in the U.S. can charge at peak rates of 400 kilowatts or less. Want all of The Times? Subscribe.
