Australia is stuck in an economic rut of low real growth
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News.com.au
38 minutes ago
- News.com.au
XPeng reveals plan to be top 5 EV brand in Australia
The battle for Australia's booming car market is heating up, with Chinese EV disruptor XPENG firing back at BYD's claim that local success is a 'signal to the world' of its global dominance. In response to BYD Founder and President Mr Wang Chuanfu's rare and exclusive interview last week, TrueEV CEO Jason Clarke, who heads XPENG's local operations, said that while BYD has 'shifted the EV landscape,' the next wave of innovation is just beginning, and XPeng plans to lead it. 'We agree that Australia represents a globally visible market with high consumer expectations, and XPEND is proud to be part of this shift,' he said. 'We view this as an opportunity to demonstrate what the next generation of EVs can deliver – in both technology and driver experience.' XPEND's response comes after Mr Chuanfu declared that success in Australia proved BYD could 'meet and exceed the expectations of mature markets' – a statement seen by many as a declaration of global EV domination. Clarke said Australia is equally critical to XPEND's global expansion strategy, and he confirmed that the brand is 'here for the long haul'. 'Our goal is bold. We aim to be among the top five pure EV brands in Australia within the next three years,' he said. 'The future of XPEND here is about more than just presence. It's about leadership in the EV revolution.' The Australian market has been heating up over the past few years as Chinese EV makers vie for a position in Australia's booming market, with brands such as BYD, GWM, Chery, and XPEND expanding their local presence. BYD has surged ahead with volume, recently celebrating its 60,000th delivery in Australia, and last month ranked 5th in the best-selling brands nationally. For Clarke, it's not about volume but offering consumers advanced technology like AI-assisted driving, 800V ultra-fast charging and the brand's Turing Chip, an in-house design to power its advanced ADAS systems. 'XPEND is at the frontier of AI and smart driving,' he said. 'Our MONA M03 offers advanced ADAS with XNGP support, over 20 smart hardware components standard, and full-scenario smart parking. We also lead in charging speed with our 800V 5C platform, and our 10-year battery warranty sets a new benchmark for customer confidence.' The brand has already received strong response to the G6 and the upcoming release of the G9. Clarke said the XPEND is taking the Australian market seriously, with infrastructure, innovation and customer support at the centre of its long-term strategy. 'We understand that long distances and fast charging are non-negotiable in Australia,' he said. XPEND is also focused on extended range options, including the Kunpeng Super Electric System offers up to 430km of electric-only range and an impressive 1,400km total range in hybrid format. 'That's why our vehicles use 800V platforms with 5C charging, meaning you can go from 10 per cent to 80 per cent in just 12 minutes.' XPEND is preparing to launch several models locally, including the flagship X9 and the futuristic MONA M03, powered by AI-driven systems and full-scenario smart parking.
ABC News
39 minutes ago
- ABC News
What's With Trump and Tariffs?
In 2017, Donald Trump reportedly scrawled 'trade is bad' in the margins of a speech — a blunt rejection of economic orthodoxy that has transformed global politics. Economists tend to see international trade as good for everyone — a rising tide that lifts all boats. So why do so many voters, in the U.S. and elsewhere, feel like they're being left behind? Recorded live in front of an audience of economists at the Australian Conference of Economists in Sydney Guests: Jenny Gordon - Nonresident Fellow at the Lowy Institute and Honorary Professor at ANU. Michael Janda - ABC NEWS Business Editor. Get in touch: We read all of your emails, and appreciate each one. Please keep them coming or use the #PeterMartinEconomy on Instagram to get our attention.
News.com.au
an hour ago
- News.com.au
Top 10 at 11: Gold stocks lead ASX gains as spot price surges to five-week high
Morning, and welcome to Stockhead's Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading. With the market opening at 10am sharp eastern time, the data is taken at 10.15am in the east, once trading kicks off in earnest. In brief, this is what the market has been up to this morning. Gold lifts ASX A weakening in US bond yields and the US dollar itself has prompted a surge in the gold price overnight, jumping 1.4% to a five-week high at US$3,406.40 an ounce. It's the usual drivers at play – Trump's latest tariff deadline of August 1 is swiftly approaching, and uncertainty around exactly what the fallout will be is brewing. The spiking gold price has provided some much needed support for the ASX this morning, which has climbed 0.32% as of about 10:30 am AEST. Materials is accounting for most of those gains, adding 2.09% alongside a 3.03% bounce in the All Ords Gold index and a similar 1.83% jump in the ASX 200 Resources. Not a surprise that small cap resource stocks are making headlines this morning, then. WINNERS Code Name Last % Change Volume Market Cap VR8 Vanadium Resources 0.039 70% 9127771 $12,978,713 MPA Mad Paws 0.125 67% 9176941 $30,468,169 KGD Kula Gold Limited 0.0085 21% 7739739 $6,448,776 DES Desoto Resources 0.17 21% 598222 $26,141,424 TR2 Tali Resources Ltd 0.72 21% 341655 $22,315,475 PRM Prominence Energy 0.003 20% 200000 $1,216,176 DGR DGR Global Ltd 0.007 17% 553260 $6,262,176 RC1 Redcastle Resources 0.007 17% 1199999 $4,461,401 ICR Intelicare Holdings 0.015 15% 632984 $6,320,446 AIV Activex Limited 0.023 15% 2802109 $4,310,052 In the news... Kula Gold (ASX:KGD) has hit bonanza gold at the Mt Palmer project, with results up to 3m at 35.9 g/t gold and 1m at 83.6 g/t gold from 18m of depth. Management says the results are evidence of Mt Palmers' strong geological fundamentals, demonstrating the long-term development potential of the asset. Vanadium Resources (ASX:VR8) has locked in a two-year DSO offtake deal with China Precious Asia Limited for vanadium-rich magnetite, agreeing to supply 100,000 metric tonnes of DSO per month over the contract period. The deal hinges on both the official start of mining operations at the Steelpoortdrift vanadium project and the two parties finalising pricing terms by the end of August. Mad Paws (ASX:MPA) has entered a scheme implementation deed, agreeing to be acquired by Rover Group, Inc at $0.14 per share. The deal values Mad Paws at about $62m. Separately, MPA is offloading its online e-commerce division under the Pet Chemist brand in a share sale agreement with VetPartners Australia Pty Ltd for about $13m in cash consideration. LAGGARDS Code Name Last % Change Volume Market Cap GTR Gti Energy Ltd 0.003 -25% 500000 $14,835,762 1TTDB Thrive Tribe Tech 0.007 -22% 653500 $914,275 AAU Antilles Gold Ltd 0.004 -20% 2078947 $11,895,340 PRX Prodigy Gold NL 0.002 -20% 28500 $15,875,278 BEL Bentley Capital Ltd 0.009 -18% 5658 $837,407 TEG Triangle Energy Ltd 0.0025 -17% 1462961 $6,267,702 AZL Arizona Lithium Ltd 0.006 -14% 99500 $37,662,201 BYH Bryah Resources Ltd 0.006 -14% 3000000 $6,789,675 SPX Spenda Limited 0.006 -14% 125000 $32,306,508
