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SAIC Motor and Huawei have launched a new electric vehicle brand, Shangjie, set to debut between April and June 2025. This collaboration, involving over 5,000 team members, aims to enhance technology integration in response to shifting market dynamics, particularly targeting the competitive RMB 150,000 to 250,000 price segment to attract younger buyers.
The 2025 Shanghai Auto Show, set for April 23 to May 2, will feature nearly 1,000 companies across 360,000 square meters. Notable debuts include Nio's sub-brands Onvo and Firefly, Xiaomi EV, and BYD's Fang Cheng Bao, with Nio and Firefly sharing booth 7A16 in Hall 7.1H. Tesla is absent from the event, continuing its trend from previous years.
Tesla has halted new orders for its Model S and Model X in China due to escalating trade tensions and increased tariffs on U.S. imports, making these models more expensive for Chinese consumers. The company is focusing on its more affordable Model 3 and Model Y, produced locally, as it faces declining market share and stiff competition from Chinese manufacturers like BYD and Geely. This strategic pivot reflects Tesla's historical pattern of adapting to market dynamics and prioritizing higher-volume vehicles.
The EU and China have initiated discussions to establish minimum prices for Chinese-made electric vehicles, potentially replacing existing tariffs of up to 45.3% imposed last October due to subsidy concerns. This negotiation aims to address unfair competition while avoiding severe trade disruptions, reflecting internal divisions within Europe, particularly among German automakers reliant on the Chinese market. The shift from tariffs to minimum pricing represents a complex challenge, as it requires a sophisticated structure to effectively counter the diverse EV market's competitive landscape.
Tesla's sales of China-made vehicles fell by 11.5% in March, totaling 78,828 cars, despite a 157% increase from February. Local rivals BYD and Geely outpaced Tesla, with sales rising by 23% and 167%, respectively. The company also faces challenges from US-China trade tensions and a 3.04% drop in stock price, marking its worst quarterly performance since 2022.
Tesla reported its lowest quarterly deliveries in over two years, with 336,681 units sold, as CEO Elon Musk's political involvement sparked backlash. Sales fell significantly in Europe and China, with European deliveries down 49% year-over-year, while competition from local brands in China intensified. Despite the challenges, Tesla hopes that the refreshed Model Y and potential new models will help revive sales.
China's passenger NEV wholesale sales reached 1.14 million units in March, marking a 37% increase from February and contributing to a total of 2.86 million units in the first quarter, up 43% year-on-year. Major manufacturers like BYD, Geely, and Tesla led the sales, with BYD alone selling 377,420 NEVs. The market rebounded post-Chinese New Year, supported by consumption-boosting policies and active auto shows.
Huawei is set to launch an ultra-fast charging system capable of 1,500 kW, significantly outpacing recent advancements by BYD and Tesla. This technology aims to enhance energy efficiency for commercial vehicles, allowing a 400 kWh battery to charge fully in just 20 minutes. The move reflects a growing trend among Chinese tech and auto companies to accelerate electric vehicle adoption through improved charging infrastructure.
The US and China are in a fierce competition to lead in humanoid robotics, with Tesla's Optimus project aiming for 5,000 units by 2025, while China's Agibot and Unitree Robotics have set the same target. Unitree's G1 humanoid, priced at $16,000, undercuts Tesla's estimated $20,000 for the Optimus Gen2. China's rapid advancements are highlighted by 5,688 humanoid robot patents filed in five years, significantly outpacing the US's 1,483, bolstered by government support and integration into factories by major companies.
Tesla's sales in Europe plummeted nearly 45% last month, with fewer than 16,000 vehicles sold, marking the lowest market share in February for five years. This decline is attributed to Elon Musk's controversial political involvement and the ongoing transition of the Model Y. In contrast, competitors like Volkswagen and BYD saw significant sales increases, highlighting Tesla's vulnerability amid rising competition in the electric vehicle market.
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