Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Chinese Online Language Educator 51Talk Speaks the Language of Profit
Trending in China: Are Elderly ‘Collateral Damage’ in Increasing Technological Cashless World?
Trending in China: Black and White ‘Little Miracle’ Born to 22-Year-Old Panda in Washington
Facing U.S. Sanctions, Huawei May See Global Smartphone Share Slump to 4% in 2021
Chinese LGBTQ Dating App Owner BlueCity Acquires Youth-Focused Gay Platform Finka
Xiaomi-Backed Smart Wearables Maker Huami Sees Profits Slump Despite Revenue Growth
Baidu Maps Illegally Using Other Chinese Firm’s Mapping Info, Court Finds.
U.S.-Listed Chinese Electric Scooter Maker Niu Rides to Higher Profits
Chinese E-Commerce Firm Ruhnn Focusing on Online Celebrities Sees Losses Narrow
China’s Kaixin Nears 1000% Annual Gain on Electric Vehicle Rally
Trending in China: Baidu Blocking Caixin’s Criticism of Search Engines Goes Viral
Trending in China: Should Restaurants Be Free to Pick and Choose Their Customers? The Strange Case of ‘Reverse Sexism’
Codemao Raises $198 Million to Teach China’s Youth Computer Programming
Tesla Challenger Xpeng Plans to Install Lidar on Electric Vehicles in 2021
Chinese Online Educator Fraud Suspect GSX Reports Losses
Investors Eat Up Dada as Grocery Delivery Specialist Posts Strong Growth
WeWork’s China Rival Completes U.S. Backdoor Listing
Trending in China: Embarrassingly Poor Quality Control of iPhone 12 Plagues Consumers
Trending in China: Are Last-Mile Logistics Companies Lording Over Their Customers?
Chinese Tech-Enabled Truckload Platform Zeyi Nets $91m in Series C Round
State-Owned Automaker SAIC Has Tesla in Its Sights

By Anniek Bao / Oct 14, 2020 07:06 PM / Business & Tech

SAIC Motor Corp. Ltd., China’s largest carmaker, has Tesla in its crosshairs.

The automaker has plans to separate its battery-powered vehicles from fossil-fuel burning cars, as it yearns for the big success of electric vehicle specialist Tesla Inc.

SAIC’s launch of an independent new-energy vehicle (NEV) brand follows the trend of homegrown rivals that are scraping over turf in the world’s largest auto market, especially in the EV race.

A slew of Chinese automakers has raced to the market with stand-alone NEV brands, led by the EV unit of state-owned Beijing Automotive Industry Holding Co. Ltd., also known as BAIC BJEV. Its premium NEV brand ARCFOX unveiled its first mass-produced model, named the Alpha-T, earlier this year.

Separate NEV brands would help traditional carmakers differentiate their more expensive battery-powered vehicles from their cheaper, gas guzzling conventional models, an NEV company executive told Caixin.

Although China’s economy has showed signs of returning to normal, distressed market demand and big cuts to state subsidies for EV purchases have eaten into the revenue of Chinese carmakers during the pandemic, with SAIC experiencing a 24.6% drop in revenue in the first half of 2020.

Read the full story on Caixin Global.

Contact reporter Anniek Bao ( editor Marcus Ryder (

Share this article
Open WeChat and scan the QR code