Author: Daniel snow

FILE PHOTO: The company logo of China’s automaker BYD is seen on a car outside its headquarters in China’s southern city of Shenzhen.Bobby Yip | ReutersShares in BYD plunged as much as 8.25% Monday, a steep drop from its record high last week, as investors assessed the Chinese electric vehicle giant’s price cuts announced on May 23.The company announced on the Chinese social media platform Weibo that it was reducing the prices on 22 electric and plug-in hybrid models until the end of June.For instance, the price tag of the Seagull hatchback was reduced by 20% to 55,800 Chinese yuan…

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Xiaomi revealed its first electric SUV, the YU7, in Beijing on May 22, 2025, and said its full launch would be held in July.Adek Berry | Afp | Getty ImagesBEIJING — China’s Xiaomi, known for its smartphones, only recently entered the electric-vehicle space. It is now taking aim at Tesla’s bestselling car in China.Less than a year after launching its first electric car, Xiaomi late on Thursday revealed its YU7 SUV and claimed it would have a driving range of at least 760 kilometers (472 miles) on a single charge.That’s well above the 719 km advertised for Tesla’s extended-range Model…

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