{
}
Nio has laid off approximately 10% of its workforce across various teams, primarily affecting the sales and service segments, with significant cuts in the UR Fellow department. The company is restructuring to enhance cost control amid disappointing sales figures for its sub-brand Onvo, which has struggled to meet targets since the launch of the L60 model. Despite these challenges, Nio's battery swap stations are reportedly nearing profitability, with construction costs significantly reduced.
In February, BYD led China's NEV market with a 29.2% share and 205,711 sales, while Geely and Changan followed with 13.2% and 6.3%, respectively. Tesla ranked 7th with a 3.8% share, and Xiaomi EV debuted at 9th with 3.4%. Overall, BYD also topped the passenger car market with a 14.6% share.
China's new energy vehicle (NEV) sales reached 892,000 units in February, marking a 5.5% decline from January but a significant 87.1% increase year-on-year. Battery electric vehicle (BEV) sales totaled 544,000 units, while plug-in hybrid electric vehicle (PHEV) sales were 348,000 units, both showing year-on-year growth but lower than January figures. NEV penetration rose to 41.9%, up from 30.1% a year earlier.
In February, Tesla sold 26,777 vehicles in China, a decline from the previous year, while BYD's sales surged to 322,846 units, marking a 164% increase. Xpeng's P7+ delivered 7,226 units, and Nio saw a 62% rise in deliveries, totaling 13,192 vehicles. Insurance registrations for major EV brands fluctuated, with BYD leading at 57,400, followed by Tesla at 13,800 and Li Auto at 7,300. Xpeng registered 8,500 units, while Nio's registrations fell to 1,930.
UBS's report for Q4 2024 reveals a slight increase in foreign institutional funds' underweight positions in China, rising from -1.7% to -1.9%. While the top 40 global investors reduced their Chinese equity holdings, sectors like banks and technology saw significant inflows, particularly into Hong Kong, which attracted $40 billion in southbound investments. Conversely, northbound investors withdrew an estimated $17 billion, mainly from materials and utilities, with around 190 funds still holding no Chinese equities.
UBS's report for Q4 2024 reveals a slight increase in foreign institutional funds' underweight positions in China, rising from -1.7% to -1.9%. While the top 40 global investors reduced their Chinese equity holdings, sectors like banks and technology saw significant inflows, particularly into Hong Kong, which attracted $40 billion in southbound investments. Conversely, northbound investors withdrew an estimated $17 billion, mainly from materials and utilities, with around 190 funds still holding no Chinese equities.
UBS's report for Q4 2024 reveals a slight increase in foreign institutional funds' underweight positions on China, rising from -1.7% to -1.9%. While the top 40 global investors reduced their Chinese equity holdings by 40 basis points, sectors like banks and technology attracted significant inflows, contrasting with outflows in real estate and healthcare. Notably, around 20 funds re-entered the Chinese market, although 190 funds, managing $188 billion, still held no Chinese equities by the end of the quarter.
UBS's latest report reveals a slight increase in the underweight of China among international investors, rising from -1.7% to -1.9% in Q4 2024. While major global investors reduced their Chinese equity holdings, sectors like banks, consumer discretionary, and technology saw significant inflows, particularly into Hong Kong, which attracted around USD 40 billion. Conversely, northbound investors faced outflows of USD 17 billion, primarily from commodities and utilities, with a small number of funds reintroducing Chinese equities into their portfolios.
UBS's report for Q4 2024 reveals a slight increase in foreign institutional funds' underweight positions in China, rising from -1.7% to -1.9%. While Chinese equities saw a reduction in holdings, sectors like banking, consumer goods, and technology attracted significant inflows, particularly in Hong Kong, which experienced $40 billion in southbound investments. Conversely, northbound investors withdrew an estimated $17 billion, primarily from materials and utilities, although some funds returned to Chinese equities after previously holding none.
Chinese President Xi Jinping met with top tech entrepreneurs, including Jack Ma and Ren Zhengfei, to bolster support for the private sector amid economic challenges and a trade war with the U.S. Xi emphasized the need to eliminate barriers for fair market competition.In other news, X has begun blocking links to the encrypted messaging app Signal, citing potential harm, despite Elon Musk's previous endorsement of the platform for privacy. Meanwhile, OpenAI cofounder Ilya Sutskever's new venture, Safe Superintelligence, is reportedly raising funds at a $30 billion valuation, focusing on advanced AI development.
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