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South China Morning Post
30-03-2025
- Automotive
- South China Morning Post
China pledges stricter EV market oversight to curb unfair price cuts and boost industry
China has pledged to improve oversight of the country's electric vehicle (EV) market to curb undercutting and boost the industry's overall fortunes, where only three EV makers are currently profitable. Advertisement Zheng Bei, deputy head of the National Development and Reform Commission (NDRC), mainland China's economic planning agency, told the China EV 100 forum in Beijing at the weekend that companies resorting to unfair competition would be taken to task if their price cuts were considered unreasonable. The unfair practices also include the publication of false information to mislead consumers and smear campaigns. 'We will collaborate with the relevant authorities to implement the policies,' Zhang said. 'To maintain market order, price monitoring will be strengthened and carmakers are urged to conduct self-discipline [in adjusting prices].' The CPCA has raised its forecast for EV sales on the mainland to 16.1 million units this year, up 3.5 per cent from last year. Photo: Xinhua Zheng did not say what kind of punishments the companies would face.
South China Morning Post
29-03-2025
- Automotive
- South China Morning Post
Xpeng bets big on flying cars with US$413 million investment in new Guangzhou factory
Chinese companies are gearing up to redefine the future of transport, betting big on flying cars and robotaxis as competition in the world's largest electric vehicle (EV) market intensifies. Advertisement Premium EV maker Xpeng will invest 3 billion yuan (US$413 million) in the electric vertical take-off and landing (eVTOL) aircraft business this year, as the company sees flying cars a bigger industry than EVs over the next two decades, CEO He Xiaopeng said at the China EV100 forum in Beijing on Saturday. 'Although low-altitude aircraft only account for 3 to 5 per cent of today's automotive sales volume, they represent 20 per cent in terms of sales revenue,' said He, adding that he believes the global flying car market could reach US$2 trillion in the next two decades, double the size of land vehicles. The company is building a factory in Guangzhou, the southern city where it is based, and plans to achieve an annual production capacity of 10,000 aircraft once the plant starts operations in 2026, said He. Xpeng's AEROHT conducts a flight demonstration at Liuye Lake Tourist Resort in Changde City, central China's Hunan province, March 27, 2025. Photo: Xinhua The Xpeng CEO's comments come as China's car and tech companies are eyeing their next growth opportunity amid the crowded EV market, in which they have been successful in the electrification of transport. Advertisement
