Tesla’s Model Y has made it into Malaysia – according to reports priced at about RM 200,000 (S$88,000). The cars are still assembled in China for obvious reasons. However, manufacturing may shift to Malaysia in due course.
While the industry at large can see the wave in electric vehicles (EV) coming from China, it has not fully detached itself from the stigma of inferior quality in spite of its rapid technological advancements. How would China overcome their “good enough” reputation?
Ford CEO Jim Farley said that price cuts in the electric vehicle market (EV) were “a worrying trend” after the U.S. automaker dropped prices for its Mustang Mach-E in response to a series of reductions by rival Tesla.
We watched Tesla trying desperate to maintain their margins, if not mitigate losses by slashing prices to make their electric vehicles more affordable. Unfortunately, it still lost to BYD — the Chinese titan whose EVs are known globally. Where does that leave the other brands?
Tesla is pursuing a battery project on its home turf that may involve China-based battery giant CATL, according to Bloomberg. The news came on the eve of the US Treasury Department announcing guidance for battery sourcing requirements and is expected to receive some political pushback.
Traders have been abandoning Chinese auto stocks as an EV price wars spread across the whole industry. BYD slumped 11 percent in Hong Kong last week, while SAIC, China’s biggest carmaker, tumbled 6.7 percent.
China’s top electric vehicle (EV) battery maker CATL’s reported big discounts to Nio, Li Auto could force rivals to cut prices, with benefits cascading to consumers. As components become more affordable, the electric vehicle market will enter into a price war.
VinFast will face competition on home ground when Chinese electric vehicle (EV) maker BYD Auto Co builds a plant in Vietnam to produce car parts, Reuters learnt — in a move that would reduce the company’s reliance on China and deepen its supply chain in Southeast Asia as part of a global expansion.