Turkey Ends BYD Tax Breaks After $1 Billion Plant Plan Stalls
Turkey’s government ceased BYD’s import tax benefits due to delays in its planned factory, prompting BYD to focus on a more strategic Hungary facility.
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Nio’s William Li Warns China Retail Auto Sales May Drop 15%-20% in 2026
China’s auto industry faces a challenging period, with forecasts predicting a 15% to 20% decline in retail sales due to weakening demand and market saturation.
AITO M6 Hits 30K Deliveries in 54 Days, New Entry-Level Variant Set for Debut
Harmony Intelligent Mobility Alliance announced the AITO M6 surpassed 30K deliveries in 54 days, aiming to capture the mid-range SUV market with an entry-level variant launch.
May NEV Average Prices Hit 169K RMB as China’s Market Shifts Upscale
China’s vehicle prices rose to 173K RMB in May, led by new energy models, amid a shift towards premium sales and weakening demand for lower-priced segments.
Afari to Acquire 100% Stake in Fvidar for RMB 25.9 Million
Afari to acquire Fvidar for RMB 25.908 million, enhancing its autonomous driving capabilities and expanding its technology portfolio significantly.
Geely Ramps Brazil Push with Local EX2 Production
Geely is localizing production in Brazil with the EX2, its first electric vehicle made locally. This move expands its footprint amid Brazil’s growing automotive market.
BYD Eyes Megawatt Charging in Canada
BYD plans to expand into Canada with a megawatt charging network and local operations, aiming to address EV charging concerns in cold climates and establish dealerships.
XPeng Claims Strong GX Orders, But May Registrations Hit Just 270 Units
Despite frequent official claims of strong orders, actual May registrations for the XPeng GX stood at just 270 units.
Huawei-BAIC’s Stelato MPV Spied in Testing for the First Time
Huawei-backed Stelato has begun road-testing its first MPV, aiming to strengthen its position in China’s expanding premium MPV market.
Xiaomi YU7 Sales Fall for Fifth Straight Month Despite New Variants
Xiaomi delivered 32,759 vehicles in May, primarily the SU7. The YU7’s sales have declined significantly, prompting new variants, but competition grows fiercer.