Latest news with #QiaoyiLi
Yahoo
4 days ago
- Automotive
- Yahoo
Xiaomi's Tesla Y rival YU7 hits showrooms in Beijing
By Qiaoyi Li and Alessandro Diviggiano BEIJING (Reuters) -Xiaomi rolled out its new sports utility vehicle in Beijing on Thursday, as the firm best known for smartphones and consumer electronics gears up to further challenge Tesla in the world's largest auto market. Xiaomi launched the YU7 at 13 of its Beijing showrooms and will start taking orders for the vehicle in July. It is keen to repeat the success of the sporty SU7 sedan, which launched last year and has outsold Tesla's Model 3 on a monthly basis since December. Analysts have said the YU7 could pose a major threat to Tesla's best-selling Model Y but its launch comes at a time when Xiaomi, a relative newcomer to China's highly-competitive EV market, has seen new EV orders fall after a series of controversies. Chinese authorities have been investigating a fatal highway crash at the end of March involving an SU7 in driving-assistance mode and Xiaomi has apologised for "not clear enough" marketing after customer complaints of false advertising. Liu Jiaxing, a 34-year-old tech worker, was among the first visitors to Xiaomi's flagship showroom in Beijing Oriental Plaza on Thursday morning, eager to catch a glimpse of the emerald green YU7. Liu said he was fond of the styling and colour as well as the fact that Xiaomi vehicles connect with the firm's personal gadgets and smart home products, which he felt pointed to how local brands understood Chinese consumers better than their foreign counterparts. "I used to be more prone to U.S., German and French car marques, but the fast progress of China's EV sector prompts me to focus more on the products rather than brands," he said. Another visitor was Tom van Dillen, managing partner at German management consultancy Greenkern in Beijing, who said he was not a fan of some of the YU7's intelligent features, which he described as "unnecessary", but said the YU7 was a formidable challenger to the Model Y. He cited a "physical ecosystem advantage in the showroom where there is a dedicated area with accessories that only fit into Xiaomi cars" and their competitive price. Xiaomi has said that it will only announce the YU7's pricing in July. HSBC Qianhai estimated in a note last week that the new SUV will be priced between 230,000 yuan and 330,000 yuan ($31,989-$45,898) and that Xiaomi could ship 100,000 YU7 units this year and 249,000 units in 2026. The Model Y is priced from 263,500 yuan in China. ($1 = 7.1899 Chinese yuan renminbi)
Yahoo
24-05-2025
- Automotive
- Yahoo
China's Xiaomi to start selling YU7 in July, a rival to Tesla's Model Y
By Qiaoyi Li, Che Pan and Brenda Goh BEIJING (Reuters) - Xiaomi will start selling its YU7 electric vehicle, in July, founder and CEO Lei Jun said on Thursday, disclosing the launch date of an SUV analysts say will be the strongest rival in China to Tesla's best-selling Model Y. The world's third-largest smartphone maker, which also makes cars, announced specifications for its second EV model alongside launches of smartphones and tablets that use its self-developed chips. Xiaomi did not disclose prices or start taking pre-orders for the YU7. In his presentation of the YU7, Lei made comparisons to the Tesla's Model Y. The YU7, for instance, has a driving range of up to up to 835 kilometres (519 miles) per charge, versus the redesigned Model Y that was launched in January with a range of up to 719 kilometres. "The Model Y is priced from 263,500 yuan ($36,574) and these (YU7) configurations should make the car 60,000-70,000 yuan more expensive," Lei said. "But we'll talk about the price in July." Xiaomi entered the auto sector last year with its sporty EV SU7, which drew styling cues from Porsche and was priced below Tesla's Model 3. Since December, the SU7 has outsold Tesla's Model 3 in China on a monthly basis. Xiaomi's SU7 deliveries have exceeded 258,000 units since its launch, Lei said on Thursday. But the company's new EV orders have fallen following a fatal highway crash at the end of March involving an SU7 in driving-assistance mode. Its problems have been compounded by customer complaints of false advertising. Xiaomi apologised for "not clear enough" marketing. Besides the YU7, Lei also announced a second new self-developed chip called Xring T1. The Xring O1 mobile chip, which the company announced earlier this month, matches Apple's best processor A18 on performance, he said. ($1 = 7.2036 Chinese yuan renminbi) (This story has been corrected to change SU7 to YU7 in the headline and paragraph 4)
Yahoo
13-05-2025
- Automotive
- Yahoo
Charged: Tesla's China-made EV sales down in April
Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean energy space, as well as which stocks in these sectors that the best analysts on Wall Street are saying to buy and sell. Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. From the hotly-debated high-flier Tesla (TSLA), Wall Street's newest darling Rivian (RIVN), traditional-stalwarts turned EV-upstarts GM (GM) and Ford (F) to the numerous SPAC-deal makers that have come public in this red-hot space, The Fly has you covered with 'Charged,' a weekly recap of the top stories and expert calls in the sector. CHINA-MADE EV SALES: Tesla sold 58,459 China-made electric vehicles in April, down 6% from last year, Reuters' Qiaoyi Li, Zhang Yan, and Brenda Goh report, citing data from the China Passenger Car Association. Deliveries of locally made Model 3 and Model Y vehicles were down 25.8% from the previous month, the data show. TRADEMARK APPLICATIONS: Tesla's effort to trademark the term 'Robotaxi' in reference to its vehicles has been refused by the U.S. Patent and Trademark Office for being too generic, but its application to trademark the term 'Robotaxi' for its upcoming ride-hailing service is still under examination by the office, TechCrunch's Sean O'Kane reports. Additionally, applications from Tesla for the trademark on the term 'Cybercab' have been halted due to other companies pursuing similar 'Cyber' trademarks, including a company that has applied for numerous trademarks related to aftermarket Cybertruck accessories, O'Kane writes. Tesla has three months to file a response to the USPTO or the office will abandon the application, according to the report. TESLA FSD: Piper Sandler keeps an Overweight rating on Tesla with a $400 price target after hosting an investor call with Elias Martinez, creator of the FSD Community Tracker. Tesla's full self-driving software is the largest contributor to Piper's price target, the firm tells investors in a research note. After the call, Piper says it seems evident that Tesla's current version 13 of its full self-driving software cannot support truly autonomous vehicles. However, it has been 4.5 months since Tesla unveiled version 13, and since then, no major updates have been released, the firm points out. During this period, Tesla has likely been focused on ensuring a safe launch in Austin, Piper believes. Click here to check out Tesla's recent Media Buzz Sentiment as measured by TipRanks. RIVIAN RESULTS: Rivian Automotive reported Q1 losses per share of (48c), with consensus at (92c), and Q1 revenue $1.24B, with consensus at $1.02B. The company stated, 'This quarter we hit our second consecutive gross profit and our highest gross profit to date at $206 million. We have continued to make significant progress on R2, including vehicle validation builds underway and our Normal, Illinois manufacturing facility expansion on track. Rivian has continued to make good progress on the development of R2. The company has begun design validation builds on its prototype line using majority production tooling. The 1.1 million sq. ft. manufacturing expansion in Normal, Illinois is progressing rapidly and on schedule. R2 production remains on track for the first half of 2026. 'While Rivian has 100 percent U.S. vehicle manufacturing and a majority of its bill of materials (excluding cells) coming from the U.S. or USMCA-qualified, Rivian is not immune to the impacts of the global trade and economic environment. The company's guidance represents management's current view on evolving trade regulation, policies, tariffs and the overall impact these items may have on consumer sentiment and demand. As a result of these impacts, Rivian has revised its delivery outlook to 40,000 to 46,000 vehicles. Due to its strong first quarter results, Rivian is maintaining its outlook range for adj. EBITDA of a $(1,700) million loss to a $(1,900) million loss. Rivian also continues to expect to achieve modest positive gross profit for the full year 2025. In addition, due to the expected impact from tariffs, the company is raising its capital expenditure guidance to $1,800 million to $1,900 million.' LUCID RESULTS: Lucid Group (LCID) reported Q1 adjusted losses per share of (20c), with consensus at (23c), and Q1 revenue of $235M, with consensus at $246.16M. Produced 2,212 vehicles in Q1, excluding over 600 vehicles in transit to Saudi Arabia for factory gating; Delivered 3,109 vehicles in Q1; up 58.1% compared to Q1 2024. 'We continued to build momentum in the first quarter as we achieved yet another delivery record, further strengthened our market position, and executed against operational priorities,' said Marc Winterhoff, Interim CEO at Lucid. 'Lucid Gravity is beginning to arrive in more customers' driveways and at our studios, and combined with our progress toward future initiatives, our company is well positioned for future success.' 'We're executing against our near-term goals – driving volume, improving margins, and operating with rigor,' said Taoufiq Boussaid, CFO at Lucid. 'And we're positioning ourselves for long-term value creation – with clear strategic priorities, strong liquidity, and breakthrough products that redefine their categories.' EV SALES FALL: Sales of EVs fell by 5% in the U.S. in April while the broader car market grew by 10%, making this the third time monthly EV sales have declined since 2021, Ryan Felton of The Wall Street Journal reports. The declines were across most brands, which dealers said were due to several factors, including cooling customer interest and fewer promotions and discounts. Publicly traded companies in the EV space include Ford, GM, Rivian, Lucid, Nio (NIO), Xpeng (XPEV), Li Auto (LI), Nikola (NKLA), and Zeekr (ZK). Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on TSLA: Disclaimer & DisclosureReport an Issue Trump says tax bill to include tax break for built-in-America car purchases Notable open interest changes for May 12th Rivian Automotive Stock (RIVN) Goes Rangebound as Q1 Beat Meets Cautious Outlook 'Magnificent Seven Stocks on Fire' as Investors Cheer U.S.-China Tariff Deal Tesla Supplier and Battery Giant CATL Eyes $4B in Hong Kong Listing Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-05-2025
- Automotive
- Yahoo
Tesla's China-made EV sales fall 6% y/y in April
BEIJING (Reuters) -Tesla sold 58,459 China-made electric vehicles in April, down 6% from last year, data from the China Passenger Car Association showed on Wednesday. Deliveries of locally made Model 3 and Model Y vehicles slid 25.8% from the previous month. Tesla's Chinese rival BYD, with its Ocean and Dynasty lineup of EVs and plug-in hybrids, last month saw a 19.4% year-on-year jump in passenger vehicle sales to 372,615 vehicles. (Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh; Editing by Andrew Heavens)
Reuters
07-05-2025
- Automotive
- Reuters
Tesla's China-made EV sales fall 6% y/y in April
Tesla cars charge at a Supercharger charging station of the electric vehicle (EV) maker in Beijing, China March 24, 2025. REUTERS/Florence Lo/File Photo Purchase Licensing Rights , opens new tab BEIJING, May 7 (Reuters) - Tesla (TSLA.O) , opens new tab sold 58,459 China-made electric vehicles in April, down 6% from last year, data from the China Passenger Car Association showed on Wednesday. Deliveries of locally made Model 3 and Model Y vehicles slid 25.8% from the previous month. Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here. Tesla's Chinese rival BYD ( , opens new tab , with its Ocean and Dynasty lineup of EVs and plug-in hybrids, last month saw a 19.4% year-on-year jump in passenger vehicle sales to 372,615 vehicles. Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh; Editing by Andrew Heavens Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
