XPeng delivers 33,525 Smart EVs in May
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Yahoo
25 minutes ago
- Yahoo
Fresh wave of Chinese EVs to hit Aussie roads as BYD and Tesla face new turf war
Another Chinese-made electric car brand has vowed to disrupt the already-competitive Australian EV market currently dominated by Tesla and Chinese carmaker BYD. XPENG has claimed "growing demand" in Australia has warranted ramping up the delivery of its mid-size SUV to 1,000 a month from August. TrueEV is exclusively importing XPENG to Australia and CEO Jason Clarke has claimed the brand will be "among the top five pure EV brands in Australia within the next three years", throwing down the gauntlet to current market leaders. The G6 model costs between $54,800 and $59,800 depending on battery range. Comparatively, BYD's newest SUV the Sealion 7 retails at $54,990 for its premium model, or $63,99 for the performance model. RELATED Major warning over 2035 Chinese car tsunami for Australia Australia's 'ancient enemy' returns sparking major Centrelink warning Aussie couple reveal 'cheaper' $400,000 housing solution Clarke said there are already "thousands" of XPENG G6s on Australian roads, but the model has recently undergone several upgrades. "We view this as an opportunity to demonstrate what the next generation of EVs can deliver in both technology and driver experience,' Clarke said. 'XPENG is at the frontier of AI and smart driving, and Australian drivers are responding to that in a big way.'There's a new rear end that has a ducktail spoiler and revised bumper, new wheel options and side mirrors, which flash blue when the car is operating in semi-autonomous mode, and a much bigger operating screen. The original G6 sported a touchscreen that was 14.9 inches wide; however, this updated model now comes with a screen that's 15.6 inches wide. It's also capable of travelling 45 kilometres further than its predecessor after its battery capacity was reportedly boosted from 66kWh to 68.5kWh. However, the bigger version's battery has been cut from 87.5kWh to 80.8kWh, which equates to 25 kilometres less in range. XPENG has plans to launch two more models, the G9 and X9, in Australia by the end of the year. EV market in Australia a battle of two giants Tesla still holds the crown in Australia, however it is coming up against some significant competition. The carmaker accounted for 42 per cent of all EVs sold here in 2024, but its sales fell by 16.9 per cent compared to the year prior. Back in 2023, it had a market share of nearly two-thirds. The Model Y was the single best-selling EV in Australia last year, with more than 21,000 vehicles purchased. But BYD is hot on the heels of Elon Musk's company and offloaded a whopping 8,000 EVs in June alone, which was its best-ever sales month in Australia. That's a 368 per cent increase in sales compared to June last year. Other players that continue to compete in the middle tier include well-known brands like MG, Kia, and BMW, while Volvo, Hyundai, Audi, Mercedes-Benz, and Volkswagen are also carving out a smaller piece of the pie. Currently, 77 per cent of all EVs sold in Australia have come from China, and the country is set to drastically change how Aussie roads will look in the future. Tsunami of Chinese brands sparks warning for buyers The Asian superpower is set to dominate the Australian market over the next decade, according to the Centre for International Economics. New data found that 43 per cent of all car imports to Australia will be from China by 2035, and push other automotive powerhouses like Japan, South Korea, and Thailand down massively. Dozens of brands exist in China and could soon try to make their mark in Australia. While this will provide buyers with a massive amount of choice, founder Paul Maric told Yahoo Finance you need to be careful about which one you choose. "You might buy something that's great value today, but that brand may not exist in five or 10 years' time," he said. "All of a sudden, you've got a car that you can't sell, a car that you can't get parts for, and a manufacturer that has just closed up shop and disappeared. "So while there is a lot of value to be had, I would just tread carefully with what you're actually buying." He said some of these Chinese brands have only been around for a few years and might not have the staying power to remain in Australia. Others might be overwhelmed by the competition here and be forced to pull out due to lack of in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
5 hours ago
- Yahoo
BYD rival XPENG 'building momentum' in Australia, earthquake rocks Perth, cops bust 'fake' pink slips
Hello and welcome to Yahoo's live news blog. BYD's Chinese EV rival XPENG says it is ramping up its presence in Australia by shipping in 1,000 more electric SUVs following what it says is strong demand for their vehicles. Residents in Perth have been woken by a 4.8 magnitude earthquake overnight. The quake was about 180km east of WA's capital and occurred shortly after 2am (AWST). Follow along as we bring you regular updates throughout the day. BYD rival XPENG says it is 'building momentum' in Australia You've most likely heard about BYD and their huge surge in popularity in Australia. But another Chinese EV brand says its also making a big impact over here. XPENG says it is sending over 1,000 electric SUVs from August thanks to "growing demand". 'XPENG is at the frontier of AI and smart driving, and Australian drivers are responding to that in a big way," Jason Clarke, CEO of TrueEV, the company which exclusively imports the vehicles to Australia. While Chinese EVs offer a cheaper alternative to other leading brands like Tesla, experts are warning for Australians to do their homework as more and more Chinese brands enter the market. "There's going to be a lot of cars to pick from but be careful which car you're buying, because with so many brands coming to Australia, you might buy something that's great value today, but that brand may not exist in five or 10 years time," founder Paul Maric told Yahoo Finance this month. UK to recognise Palestinian if war doesn't end UK Prime Minister Keir Starmer will recognise a Palestinian state if Israel does not end the crisis in Gaza. The UK would refrain from recognising a Palestinian state if Israel allows more aid into Gaza, stops annexing land in the West Bank, agrees to a ceasefire and signs up to a long-term peace process over the next two months, Starmer said. Israeli Prime Minister Benjamin Netanyahu reacted angrily to the announcement, saying it was rewarding 'Hamas's monstrous terrorism'. There are increased calls for Australia to follow suit, with France earlier this week also recognising a Palestinian state. Prime Minister Anthony Albanese reacted angrily to claims from Netanyahu who said there was no starvation in Gaza. Perth residents woken by 4.8 magnitude earthquake Residents in Perth have been woken to a magnitude 4.8 earthquake which struck a regional town east of WA's capital. Geoscience Australia says the earthquake started near the town of Wyalkatchem in Western Australia's Wheatbelt region, at 2am (AWST). The earthquake was felt across southwestern WA, as far west as Perth about 200km away and even 436km away in the outback town of Kalgoorlie. Geoscience Australia's Senior Seismologist Dr Trevor Allen said the earthquake appeared to have been 'felt extensively' and there could well be damage to buildings. We've detected an #earthquake with a preliminary magnitude of 4.8 at 2.01am in Wyalkatchem, WA. If you need assistance, contact your local emergency services. Complete a felt report at — Geoscience Australia (@GeoscienceAus) July 29, 2025 Dealership accused of issuing fake pink slips Cops in NSW allege a Sydney dealership has been issuing fraudulent pink slips, leading to three men being charged. An investigation found two cars with major defects including no airbags and no anti-lock braking systems and suspension had obtained 'pink slips'. "Following further inquiries, police charged three men – aged 39, 40 and 42-years-old – with knowingly produce false/misleading document state law and breach condition of examiners authority," police said in a statement. Police will allege they issued 22 fraudulent safety inspection reports between January 2025 and May 2025. They will front court today. Do you have a story tip? Email: newsroomau@ You can also follow us on Facebook, Instagram, TikTok, Twitter and YouTube. You've most likely heard about BYD and their huge surge in popularity in Australia. But another Chinese EV brand says its also making a big impact over here. XPENG says it is sending over 1,000 electric SUVs from August thanks to "growing demand". 'XPENG is at the frontier of AI and smart driving, and Australian drivers are responding to that in a big way," Jason Clarke, CEO of TrueEV, the company which exclusively imports the vehicles to Australia. While Chinese EVs offer a cheaper alternative to other leading brands like Tesla, experts are warning for Australians to do their homework as more and more Chinese brands enter the market. "There's going to be a lot of cars to pick from but be careful which car you're buying, because with so many brands coming to Australia, you might buy something that's great value today, but that brand may not exist in five or 10 years time," founder Paul Maric told Yahoo Finance this month. UK to recognise Palestinian if war doesn't end UK Prime Minister Keir Starmer will recognise a Palestinian state if Israel does not end the crisis in Gaza. The UK would refrain from recognising a Palestinian state if Israel allows more aid into Gaza, stops annexing land in the West Bank, agrees to a ceasefire and signs up to a long-term peace process over the next two months, Starmer said. Israeli Prime Minister Benjamin Netanyahu reacted angrily to the announcement, saying it was rewarding 'Hamas's monstrous terrorism'. There are increased calls for Australia to follow suit, with France earlier this week also recognising a Palestinian state. Prime Minister Anthony Albanese reacted angrily to claims from Netanyahu who said there was no starvation in Gaza. UK Prime Minister Keir Starmer will recognise a Palestinian state if Israel does not end the crisis in Gaza. The UK would refrain from recognising a Palestinian state if Israel allows more aid into Gaza, stops annexing land in the West Bank, agrees to a ceasefire and signs up to a long-term peace process over the next two months, Starmer said. Israeli Prime Minister Benjamin Netanyahu reacted angrily to the announcement, saying it was rewarding 'Hamas's monstrous terrorism'. There are increased calls for Australia to follow suit, with France earlier this week also recognising a Palestinian state. Prime Minister Anthony Albanese reacted angrily to claims from Netanyahu who said there was no starvation in Gaza. Perth residents woken by 4.8 magnitude earthquake Residents in Perth have been woken to a magnitude 4.8 earthquake which struck a regional town east of WA's capital. Geoscience Australia says the earthquake started near the town of Wyalkatchem in Western Australia's Wheatbelt region, at 2am (AWST). The earthquake was felt across southwestern WA, as far west as Perth about 200km away and even 436km away in the outback town of Kalgoorlie. Geoscience Australia's Senior Seismologist Dr Trevor Allen said the earthquake appeared to have been 'felt extensively' and there could well be damage to buildings. We've detected an #earthquake with a preliminary magnitude of 4.8 at 2.01am in Wyalkatchem, WA. If you need assistance, contact your local emergency services. Complete a felt report at — Geoscience Australia (@GeoscienceAus) July 29, 2025 Residents in Perth have been woken to a magnitude 4.8 earthquake which struck a regional town east of WA's capital. Geoscience Australia says the earthquake started near the town of Wyalkatchem in Western Australia's Wheatbelt region, at 2am (AWST). The earthquake was felt across southwestern WA, as far west as Perth about 200km away and even 436km away in the outback town of Kalgoorlie. Geoscience Australia's Senior Seismologist Dr Trevor Allen said the earthquake appeared to have been 'felt extensively' and there could well be damage to buildings. We've detected an #earthquake with a preliminary magnitude of 4.8 at 2.01am in Wyalkatchem, WA. If you need assistance, contact your local emergency services. Complete a felt report at — Geoscience Australia (@GeoscienceAus) July 29, 2025 Dealership accused of issuing fake pink slips Cops in NSW allege a Sydney dealership has been issuing fraudulent pink slips, leading to three men being charged. An investigation found two cars with major defects including no airbags and no anti-lock braking systems and suspension had obtained 'pink slips'. "Following further inquiries, police charged three men – aged 39, 40 and 42-years-old – with knowingly produce false/misleading document state law and breach condition of examiners authority," police said in a statement. Police will allege they issued 22 fraudulent safety inspection reports between January 2025 and May 2025. They will front court today. Cops in NSW allege a Sydney dealership has been issuing fraudulent pink slips, leading to three men being charged. An investigation found two cars with major defects including no airbags and no anti-lock braking systems and suspension had obtained 'pink slips'. "Following further inquiries, police charged three men – aged 39, 40 and 42-years-old – with knowingly produce false/misleading document state law and breach condition of examiners authority," police said in a statement. Police will allege they issued 22 fraudulent safety inspection reports between January 2025 and May 2025. They will front court today.
Forbes
14 hours ago
- Forbes
China Market Update: WuXi Apptec Doubles Profit, Childcare Stimulus Launched
CLN Asian equities were mixed overnight as Mainland China's STAR Market and Thailand outperformed, while Vietnam and Pakistan underperformed. Trade representatives from the US and China completed two days of talks that had the expressed purpose of extending the August 1st deadline for a trade deal. Most analysts are saying that a 90-day extension is likely. The global economy has weathered the tariffs better than expected so far, though it is important to remember the level of exemptions granted to key product areas, especially for China. We need a deal, but the negotiators are taking their time, which will hopefully result in the best possible outcome. Fingers crossed! Recent outperformers were sold off today, except for health care. Viral Labubu doll-maker Pop Mart was net sold by Mainland investors via Southbound Stock Connect, who likely took profits in the name. Meanwhile, insurance companies were also sold off following a strong rally yesterday on lower interest rate guidance for insurance contracts. Internet stocks were mostly lower as we head into earnings season next month. However, some price targets for video platform Kuaishou were raised, though the stock was down overnight. WuXi Apptec indicated that its net profit for the first half 2025 more than doubled. The stock was up +11.25% in Hong Kong overnight. WuXi Apptec has seen significant tailwinds this year, along with its co-named peer WuXi Biologics. These include the removal of an extreme geopolitical overhang on Wuxi Biologics and Apptec: the proposed BIOSECURE Act, which would have barred it from working with US entities receiving federal medicare and medicaid dollars. It is estimated that one-third of all the drugs on the US market today passed through China-based contract research labs, such as WuXi Apptec and Biologics. They are based in China but have facilities all over the world, including in the United States. China committed new capital to increasing the birth rate. The government will now allocate RMB 3,600 annually for families with children under three. Related stocks cheered the news. Does this count as additional stimulus for consumption? Indirectly, yes. The lack of a social safety net and deflation are the primary reasons China's consumers hesitate to increase spending significantly. New Content Read our latest article: KraneShares KOID ETF: Humanoid Robot Rings Nasdaq Opening Bell Please click here to read Chart1 Chart2 Chart3 Chart4 Chart5 Chart6
