Latest news with #TangL
Business Times
25-06-2025
- Automotive
- Business Times
China's Xiaomi to launch first SUV as shares near record high
[HONG KONG] The unveiling of Xiaomi's first electric SUV on Thursday (Jun 26) will showcase how the Chinese tech company has become an investor darling with its high-stakes bet on the auto market. Shares of the firm founded by billionaire Lei Jun are within striking distance of a fresh record in Hong Kong after a 64 per cent surge this year. Now valued at US$187 billion, Xiaomi is worth more than Chinese EV leader BYD as it grows its footprint in the world's largest car market. The new YU7, a direct competitor to Tesla's Model Y, may help it accomplish that goal. The SUV is a hallmark of Xiaomi's US$10 billion electric vehicle (EV) strategy as larger vehicles gain popularity across China. It also signifies a deeper shift in Xiaomi's business model, offering consumers the ability to sync key aspects of their daily lives. That combined ecosystem is what some investors are saying will cement its place as a leader in China's trillion-dollar tech sector. The new offering 'not only gives Xiaomi business exposure in the fast-growing EV business in China, but more importantly, the synergy', said June Lui, a portfolio manager at Polen Capital. 'Globally, there is no one company that can connect your mobile device, your home appliances and your car – and they have all three.' Over the past 12 months, Xiaomi's shares have more than tripled, topping a gauge of peers as it leverages its smartphone success into China's crowded EV market. The rally, which stands out even amid the renaissance in China tech thanks to DeepSeek's breakthrough, has made Xiaomi one of the country's most expensive tech stocks. Shares are now trading at nearly 30 times forward earnings, almost double the valuation of Tencent Holdings and even above the US giant Apple. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Still, overwhelmingly bullish sell-side analysts hope its sportier and more premium second EV will help Xiaomi capture a new customer segment and drive the stock even higher. Order momentum for the YU7 is also key for boosting production scale, which is critical for improving unit economics in the auto business. Pricing estimates by analysts for the YU7 range from 250,000 yuan (S$44,510) to 330,000 yuan. In comparison, Tesla's Model Y starts from 263,500 yuan while the electric version of BYD's Tang L SUV, which is just slightly smaller than the YU7, sells for between 239,800 and 289,800 yuan. The Beijing-based company expects to deliver 350,000 cars in 2025, more than double last year's level, following a strong debut for its SU7 sedan. Xiaomi plans to turn its EV arm profitable in the second half of 2025. Part of its strategy is emulating Tesla by focusing on producing a small number of products but selling a lot of them, said Edison Lee, an analyst at Jefferies. 'Their first car is a big success. But if they cannot repeat that success, they will not be able to scale up to the extent that they thought they can.' Thursday's launch comes amid a setback in the company's plans after a fatal crash involving its marquee electric car in March. The accident forced Xiaomi to scrap the YU7 unveiling at the Shanghai auto show in April and spurred regulators to tighten rules around such autonomous driving systems. Co-founded in 2010 by Lei Jun, a serial Chinese entrepreneur, Xiaomi has learned from experience as it fought fiercely to become one of the world's top smartphone vendors. From early on, the company was known for its value-for-money products and Internet marketing that lured young consumers. Xiaomi needed a new growth engine as its core smartphone business matured, with revenue declining for two years during a global market downturn to 2023. Its 2024 EV entry was initially met with industry and investor trepidation as it competed with dozens of others amid a brutal price war. Looking forward, how well Xiaomi continues to perform will depend on how quickly the YU7 sells and where pricing ends up. The firm has strengths in both manufacturing and marketing, according to Daisy Li, a fund manager at EFG Asset Management HK. Key factors to watch now will be how Xiaomi 'can build out its intelligent ecosystem and if it can continue its premiumization and gain market share across product categories'. BLOOMBERG
The Citizen
13-06-2025
- Automotive
- The Citizen
South Africa next? BYD unwraps flagship three-row Sealion 8
Penned-in for Australia from the first quarter of 2026, the plug-in hybrid Sealion 8 could well become BYD's range-topper in South Africa should approval be given. Known as the Tang L in China, the rebadged Sealion 8 has been approved from key right-hand-drive markets. Image: Its profile in South Africa gradually starting to grow, BYD has released details of the export market Tang L that will be sold as the Sealion 8. Changing dynasties Sharing its name with the standard Tang that went on-sale in its current second generation guise in China five-years ago, the Tang L is, however, of a completely different design as it rides on BYD's Super e-Platform offering both electric and plug-in hybrid powertrains. ALSO READ: BYD Sealion 7 priced as brand's new flagship EV crossover Although part of BYD's Dynasty range of products at home, the Tang L will adopt the nameplate used by its Ocean series of products for markets outside China, which currently also comprises Seagull/Dolphin Mini, Dolphin, Seal and Shark. The fundamentals Shown as the Tang L in January, and set to be offered with five, six or seven seats as per the 'L' suffix, the Sealion 8 measures 5 040 mm long, 1 996 mm wide and 1 760 mm tall, with its wheelbase stretching 2 950 mm. Practicality-wise, the Sealion 8 has a boot capacity of 675-litres, which increases to 960-litres with the third row folded down. Dropping the middle row sees space increase further to 1 960-litres. Plug-in hybrid for export only On the power front, the Sealion 8 will only offer plug-in hybrid powertrains in contrast to the Tang L, which also comes with a fully electric powerplant. Marketed as DM-i in China, the initial setup combines a 1.5-litre turbocharged petrol engine with BYD's 29.5-kWh Blade battery pack. Powering a single motor mounted on the front axle rather than the rear, the setup produces a combined 200kW/315Nm, which BYD claims will result in 0-100 km/h taking 8.6 seconds. Interior gets BYD's trademark rotating infotainment display. Note: Interior of the BYD Tang L depicted. Image: The claimed all-electric range, based on China's CLTC regulations, is a supposed 175 km. Wearing the DM-p badging – the 'p' denoting performance – the range-topping Sealion 8 retains the same 1.5-litre turbo engine, but in combination with a second electric motor on the rear axle plus a larger 35.6-kWh Blade battery pack. The result is a combined output of 400kW/670Nm, 0-100 km/h in 4.9 seconds and a claimed CLTC electric-only range of 215 km. Spec sheet In terms of spec, the Sealion 8 will come standard a panoramic glass roof, a rotating 15.6-inch infotainment system, wireless smartphone chargers, an augmented reality Head-Up Display, fragrance dispenser, BYD's latest LiDAR system, including autonomous driving, and a 21-speaker sound system. Watch this space Penned-in for Australia, but, according to only from the first quarter of 2026, an announcement regarding the Sealion 8 for South Africa remains to be made. However, given the availability of the plug-in hybrid Sealion 6 and the all-electric Sealion 7, don't be surprised if approval for the local market is granted not long after its arrival Down Under. Additional information from and NOW READ: Plug-in hybrid BYD Sealion 6 lands in South Africa
Yahoo
04-06-2025
- Automotive
- Yahoo
Automaker achieves unprecedented breakthrough that could alter how we think about electric cars: 'It's nothing less than a game-changer'
China's BYD just flipped the electric vehicle charging conversation on its head with a game-changing demonstration that could make EVs more convenient than ever. In a high-profile test in Beijing, BYD delivered 262 miles of range to its Han L electric sedan in under five minutes using its new Megawatt charging system, as reported by InsideEVs. That's about the time it takes to fill up with gas, and it could completely reshape how we think about electric cars. For many people, EV charging still feels like a hassle. But BYD's new tech, built on its proprietary Super e-Platform, might just change that perception. This 1,000-volt setup, the first of its kind in mass-produced EVs, allows energy to move ultra-fast while staying safe thanks to a redesigned battery and cooling system. According to InsideEVs, BYD had to build nearly every part of the system in-house, from silicon-carbide power chips to upgraded motors and power distribution components. It even redesigned the charging plug to make it smaller and easier to handle. The Han L and its SUV sibling, the Tang L, can also draw power from two fast chargers at the same time, maximizing their charging potential when Megawatt stations aren't available. "It's nothing less than a game-changer for the entire space," the author wrote. When charging an EV is as quick and easy as pumping gas, the idea of going electric becomes much more appealing. Would you buy an EV if it only took 5 minutes to charge? Sign me up No way Depends on the cost Depends how much range it has Click your choice to see results and speak your mind. Shorter stops also mean more time on the road for commuters and businesses, and fewer emissions mean cleaner air for everyone. These faster systems could also help delivery fleets, rideshare drivers, and public transit reduce downtime, saving money and energy. If you charge at home, the benefits multiply. Adding rooftop solar panels lets you fuel your EV with clean sunshine, cutting costs and pollution at the same time. Tools such as EnergySage make it easy to compare vetted solar quotes and start saving. BYD is one of the many companies making a splash. Innovators such as Aptera are working on solar-powered vehicles that barely need to plug in at all. Startups developing heat-resistant battery backups are also helping ensure that clean energy stays available when people need it most. Even retailers such as Walmart are adding more chargers to their parking lots, helping everyday drivers power up while they shop. With more than 500 Megawatt chargers already operating in China and thousands more planned, BYD is showing what's possible. While it may take some time for this tech to reach the U.S., BYD's five-minute charging breakthrough sets a new bar for what EV drivers everywhere can eventually expect. Join our free newsletter for weekly updates on the latest innovations improving our lives and shaping our future, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
25-04-2025
- Automotive
- Yahoo
BYD, Tesla's biggest rival in China, just doubled its profits
Chinese auto giant BYD reported first-quarter earnings on Friday. The carmaker, one of Tesla's biggest rivals, saw its net profits double compared to last year. BYD's sales and profits have surged while Tesla fights falling sales and anger at CEO Elon Musk. Tesla's biggest Chinese competitor reported bumper first-quarter earnings on Friday. BYD said its net profit increased 100% since last year to 9.15 billion yuan, roughly $1.3 billion. It means China's best-selling carmaker has overtaken Tesla on another key metric. Elon Musk's firm reported net income of $409 million for the same period, a drop of more than 70% compared to the same period in 2024. Alongside surging profits, BYD said operating revenues increased 37% compared to the same period in 2024, reaching 170.4 billion yuan, roughly $23.3 billion. BYD's earnings per share also surged in the first quarter, up 99% to 3.12 yuan per share, around $0.43. Last year, BYD overtook Tesla on overall annual revenue, reporting $107 billion in revenue, compared to Tesla's $98 billion. BYD has been aggressively expanding outside China in recent years. At the same time, Tesla has started 2025 battling falling sales and mass protests against CEO Musk over his close involvement with the Trump administration. Last month, BYD unveiled a new system that it says can give 250 miles of charge in just five minutes. The 1,000 kW chargers are four times as powerful as Tesla's current chargers, which it says can add 200 miles of range in 15 minutes. Tesla plans to roll out 500 kW chargers later this year. BYD's technology is available in its Han L sedan and Tang L SUV, with the prices for the former as low as $30,000. The Chinese company's cars remain unavailable in the US, but BYD has still been pulling ahead of Tesla for sales. BYD sales jumped 60% in the first three months of 2025, while Tesla deliveries came in well below analyst expectations. Read the original article on Business Insider Sign in to access your portfolio
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Business Standard
25-04-2025
- Automotive
- Business Standard
BYD Q1 results: Net income jumps to $1.3 billion, overtakes Tesla
BYD Co.'s net income in the first quarter jumped to 9.15 billion yuan ($1.3 billion), overtaking Tesla Inc. on another key metric and signaling a robust start to the year for China's no. 1 selling car brand. Shenzhen-based BYD's net income was higher than the 8.1 billion yuan projected by analysts. While the carmaker's sales of 170.36 billion yuan for the three months ended March 31 were up 36% year-on-year, they fell short of analyst expectations. Tesla reported net income of $409 million for its first quarter earlier this week, much lower than what the market had been looking for. Considering the first three months of the year are generally the slowest for Chinese automakers, with the period containing the long Lunar New Year holiday, BYD looks set for a strong 2025. Its car sales for the quarter were just shy of 1 million units, putting the Chinese behemoth well on track to achieve full-year sales of 5.5 million, including 800,000 exports. Analysts have said they expect little impact on BYD from US President Donald Trump's auto tariffs considering the company doesn't sell passenger cars in the US and has solid order prospects from high growth areas like South America and parts of Southeast Asia. It's also building an EV factory in Hungary that's expected to begin production in late 2025. Chinese automakers including BYD were front and center at this week's Shanghai auto show, despite a strong turnout from European rivals such as Volkswagen AG and BMW AG. BYD prominently displayed its push into higher-priced vehicles that could yield fatter margins, from its luxury sport utility vehicle the Yangwang U8L to its concept Dynasty-D series and its concept Denza Z sports car. Earlier this week, BYD split its stock in a move to appeal to a broader number of investors, following the likes of Nvidia Corp. and Tesla. The company will distribute 8 bonus shares for every 10 shares held and issue 12 capitalization shares from reserves for every 10 shares issued. That could enable BYD to 'cater to a broader group of investors,' Morgan Stanley analysts led by Tim Hsiao wrote in a note. BYD had flagged its higher-than-expected first-quarter numbers in a filing earlier this month, days after it touted a new EV battery system that can charge for 400 kilometers in just five minutes. The new technology will be available in the Han L and the Tang L sport utility vehicle, which will start at 270,000 yuan and 280,000 yuan, respectively, and be sold from this month. The Tang L was at the Shanghai auto show this week. The seven-seat, all-wheel drive SUV comes in three variants, with the top-of-the-range model capable of going from 0 to 100 kilometers an hour in just 3.9 seconds, about the same as a Porsche 911. BYD's Hong Kong-traded shares closed 1.7% higher on Friday, bringing gains for the year to almost 50%. That comes on top of a 24% rise in 2024 and an 11% increase in 2023. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
