Chinese electric vehicle

[ad_1] The world's largest electric vehicle market is putting its crowded infancy stage behind it.The explosive industry in China — supercharged by government subsidies more than a decade ago — now spans about a hundred manufacturers churning out pure-electric and plug-in hybrid models. While that's down from roughly 500 registered EV makers in 2019, the end now looks to be in sight for scores more. The cutthroat market formally transitioned from over-crowded to moderately concentrated in the first quarter, based on the Herfindahl-Hirschman Index, a metric used by academics and regulators to evaluate competition and measure market concentration. The biggest winners are players already at the top, like BYD Co. and Tesla Inc., which have been consolidating their power. According to Wang H...

[ad_1] Chinese electric vehicle maker Xpeng Inc. hopes that dramatic cuts to manufacturing costs will propel the eight-year-old company to profitability, co-president Brian Gu told reporters at the Shanghai International Auto Show, which opens to the general public on April 20.The Guangzhou-based company plans to shave 25% off the costs of its power train, battery cells included, and save 50% on intelligent driving features by the end of 2024, Gu said. As of now, the two account for more than half of the cost building Xpeng EVs, he added. Last year, disappointing sales forced Xpeng to push back its timeline for profitability to 2025. But battery materials are getting cheaper, Gu said, generating savings this year and into next. The company is also trying to reduce its use of laser-based...

Tag: Chinese electric vehicle

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