The automotive industry in China in 2024 is characterized by increasing internal competition with intense "price wars" due to the rising share of new energy vehicle (NEV) sales and declining gasoline vehicle sales. Major firms like SAIC Motor and BYD are experiencing shifts in market leadership, with NEVs gaining market penetration and traditional fuel vehicle companies facing sales declines and profitability issues. Chinese automakers are actively pursuing overseas expansion amidst external challenges, such as heavy tariffs in Europe, while autonomous driving technology transitions to "end-to-end" architectures.

Chinese new energy vehicle (NEV) market penetration nearly reached 50%, with new energy passenger vehicles surpassing 50% in July 2024. Policies favor NEVs, leading to a mixed economic impact, with increased NEV market share but declining tax revenues from traditional vehicles. Calls for policy equality between fuel and electric vehicles are intensifying as NEVs disrupt market dynamics, with discussions on the gradual phase-out of tax exemptions and subsidies.

BYD’s dominance is taking a toll on smaller Chinese EV rivals, white paper argues China’s auto insurers must keep pace with driverless tech

Deal allows BYD to sell cars directly to dealers, giving it more leeway on pricing and availability

The giant posted a 33% jump in second-quarter profit, while others posted disappointing results

BYD’s ambitious global sales goal will require a huge increase in production and deliveries

BYD to launch SUV with Huawei’s Qiankun autonomous driving system in third quarter

Yichun, Jiangxi Province, houses the world's largest lithium mica deposit, with recent lithium prices fluctuating significantly from over 600,000 yuan per ton in 2022 to below 90,000 yuan by July 2024. The region faces environmental challenges from lithium mining waste, generating millions of tons of lithium slag, tailing sand, and mud, posing risks to soil and water. Ongoing efforts to improve lithium slag disposal include road construction standards, cement additives, and comprehensive recycling strategies to manage waste sustainably and align with environmental regulations.

SAIC Motor Corporation announced a major managerial reshuffle: Chairman Chen Hong retired, Wang Xiaoqiu became Chairman, and Jia Jianxu, 46, was appointed President. SAIC, experiencing declining sales for several years, sold 251,000 vehicles in July 2024, lagging behind BYD with 91,000 fewer sales. The company faces intense competition, internal challenges, and reliance on its joint ventures, despite efforts to adapt with new strategies and management changes.

The company lost its position as China’s top-selling carmaker to EV-manufacturer BYD in recent months

Partnership will help Uber achieve its aim of having a fleet of 100% EVs by 2030

The billionaire investment guru has seen a 2,000% gain from the bet he made on the Chinese EV maker 15 years ago

BYD chief appears to shift stance on the technology as China’s government throws its weight behind autonomous cars

The rise in Chinese automakers attending a long-running car show comes as their push for market share in Europe’s EV market slows

The factory will produce 150,000 electric and hybrid vehicles annually, part of a move that could bolster the Chinese automaker’s foothold in Europe

New factory may offer BYD access to the EU market avoiding recently imposed tariffs

Local industry fears influx of Chinese imports barred from Europe

CATL’s chief says there’s a better way than tariffs to steer where EV batteries get made, sales of clean energy-powered heavy trucks surge 139%

Quarterly sales of 426,000 EV units put it within striking distance of once again overtaking Tesla