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BYD surpasses CATL in market value, unveils major EV charging breakthrough

TechNode

On Monday, BYDs market value rose past RMB 1.16 trillion ($160 billion) to overtake that of CATL in mainland China for the first time in seven years, hours before the launch of its newest generation of electric vehicle platform, considered a major breakthrough for EV charging. The Chinese automakers shares rose about 1.2%

Marketing 102
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Xiaomi’s first smart home appliance factory plans year-end production to crack China’s air-conditioner market

TechNode

Shifting from its early contract manufacturing model, Xiaomi has invested heavily in building its own factories to enhance product independence, particularly in response to past concerns about the originality of its air-conditioner designs. Why it matters: The Wuhan facility is Xiaomi’s first smart home appliance factory.

Product 85
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RTX 5090 cards selling for $5,000 on China's black market as DeepSeek AI models drive demand

TechSpot

DeepSeek's industry-disrupting R1 models can efficiently run on consumer GPUs, rather than expensive AI accelerators such as the H20. As reported by The Information (paywalled article), the situation has led to demand for the China-specific RTX 5090D reaching a point where the cards are being sold on the black market.

China 92
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Valued at $1B, Kai-Fu Lee’s LLM startup unveils open source model

TechCrunch

Kai-Fu Lee, the computer scientist known in the West for his bestseller AI Superpowers and in China for his bets on artificial intelligence unicorns, has a new venture — and a great ambition. AI with the vision to develop a homegrown large language model for the Chinese market. […] © 2023 TechCrunch.

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Tesla’s Model Y gets a $3,000 price cut

The Verge

Tesla has lowered the purchase price of its Model Y by $3,000, so its Long Range AWD will now cost $49,990, Electrek reported. The Model Y just began shipping in March , and earlier this month Tesla reported better-than-expected delivery numbers for all its vehicles in the second quarter, so the reason for the price cut isn’t totally clear.

Model 140
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This tiny car beat Tesla’s Model 3 as the best-selling EV in the world for January and February

The Verge

The Hong Guang Mini EV edged out Tesla’s Model 3 as the top-selling electric vehicle in the world in January and February , not a small feat for the relatively new hatchback. The Hong Guang Mini EV sells in China only for 28,800 yuan, or about $4,500. The base Model 3 weighs around 3,500 pounds. Jengtingchen.

Model 140
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Li Auto says it will push for “major overseas growth” this year

TechNode

Chinas Li Auto has established after-sales and service centers in several Middle Eastern countries and set up an independent department to oversee its efforts to boost its international expansion. billion) in 2024, dragging its shares on the Nasdaq down more than 4% as of market close on March 14.