XPENG to Report First Quarter 2023 Financial Results on Wednesday, May 24, 2023

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Go back to XPENG to Report First Quarter 2023 Financial Results on Wednesday, May 24, 2023

BYD cuts starting price for Seal EV in bid to extend market lead over Tesla (TSLA)

May 10, 2023 2:07 PM EDT

Chinese automaker BYD Co cut the starting price of its best-selling Seal sedan by 10% on Wednesday as the electric vehicle maker aims to extend its lead in the world's largest auto market.

The new price for the vehicle is now 18% cheaper than the rear-wheel drive Model 3 made by the companys closest competitor, Tesla (NASDAQ: TSLA).

China's EV market is in the midst of a price war started by Tesla earlier this year, with several EV... More

Barclays predicts April back step as EV penetration reaches 14% in March report card

May 9, 2023 8:11 AM EDT

Barclays released a March EV report card as EV penetration reached 14%, up m/m and y/y, but still below elevated 4Q22. Analyst Dan Levy believes April is poised to be a slight step back in uptake, in-line with typical 1st month-of-quarter patterns. Tesla (NASDAQ: TSLA), however, had an impressive March share, benefiting from price cuts and an increased focus on low cost EVs exported from China.

China once again had the highest EV penetration rate among the major global regions (30% in March), yet was flat m/m.... More