Tesla and its rival electric vehicle manufacturers in China signaled a truce after a months-long price war and agreed to a “socialist values” pledge. Tesla CEO Elon Musk, who is also the owner of Twitter and SpaceX, and Chinese automaker CEOs, agreed to adhere to a “core socialist values” pledge and to compete fairly in…
Tesla and Chinese Rivals May Sign Truce After EV Price War With Socialist Values Pledge
July 6, 2023
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New Chinese Automaker Joins EV Price War in Australia
The electric vehicle (EV) price war in Australia has intensified as the third Chinese automaker enters the race with a significant price drop. Great Wall Motor (GWM), a Chinese car manufacturer, has announced it would slash $4,000 (US$2,700) from the entry model of its Ora, an electric hatchback, bringing the price down to $39,990. The…
Chinese Automakers Start EV Price War in Australia
Two Chinese car manufacturers have sparked an electric vehicle (EV) price war in Australia with their plans to roll out “the most affordable” electric car on the market this week. On June 19, MG Motor, which Chinese automaker SAIC Motor owns, announced the release of an entry-level model for its MG4 electric SUV at $38,990 (US$26,500),…
2nd High-Altitude Object Shot Down Over Alaska
A second object was shot down. This time, President Joe Biden ordered troops to ground it over Alaska. The Pentagon says it posed a threat to civilian aircraft. Meanwhile, Biden says the Chinese spy balloon from last week did not pose a major breach, as the FBI sifts through the recovered debris. Questions are swirling…
China’s Electric Vehicles Could Destroy America
January 28, 2023
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Business & MarketsBusiness ColumnistsBYDChinachina electric vehicles (EVs)OpinionThinking About China
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Commentary Since 2020, China’s electric vehicle makers have been on a streak. Other vehicle manufacturers are starting to look nervously in their rear-view mirrors, err … cameras, and in some cases, side-views. Some, like Volvo, are even looking at their stock and realizing that a Chinese competitor has already bought a controlling share. Is China’s…
Investors Worldwide Further Reduce Stakes in Chinese Tech Firms, Some Shift Investment to Taiwan
December 26, 2022
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AlibabaBerkshire HathawayBusiness & MarketsBYDChinaChina Business & EconomyCompaniesFoxconnInflation Reduction ActInvestmentSoftbankTaiwantariff evasionTencentTsinghua UnigroupTSMCWarren Buffet
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New Analysis Amid a grim outlook of the Chinese economy, particularly its technology sector, foreign investors have been cashing out their gains on Chinese stocks, fearing their values might plummet further. Meanwhile, some investors have turned their attention to Taiwanese tech firms. Berkshire Hathaway, Warren Buffett’s investment firm, has reduced its holdings of BYD, a…
Buffett’s Firm Cuts Stakes US Bank, BYD; Adds Chip Maker
OMAHA, Neb.—Warren Buffett’s company slashed its stake in U.S. Bank’s parent company and also sold shares in Chinese electric car maker BYD in the third quarter, according to regulatory filings Monday. The moves were among several others including a more than $4.1 billion investment in Taiwan Semiconductor that Berkshire Hathaway disclosed in the filings with…
What Warren Buffett Selling BYD Stock Means for Regular Investors
September 11, 2022
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Business & MarketsBusiness ColumnistsBYDChinaChina Business & EconomyChineseOpinionThinking About ChinaWarren Buffett
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Commentary When Berkshire Hathaway, Warren Buffett’s investment firm, began trimming its stake in Chinese electric car and battery maker BYD, rumors began circulating on what it means for the company, China’s stock market, and ordinary investors following Chinese stocks. But to regular everyday investors who follow Buffett, it means very little. On the surface, the…
Chinese EV Maker BYD Is Beating Tesla
July 8, 2022
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Commentary The competition over electric cars is heating up, and China’s BYD just pulled ahead of Tesla. BYD sold 641,000 vehicles in the first six months of the year, with Tesla selling just 564,000. Tesla only sells electric vehicles (EVs), whereas one of BYD’s strengths is not only EVs, about half of unit sales, but…
Beijing Halts Over 40 IPOs Amid Probe into Broker, Law Firm
Chinese bourses have halted 42 initial public offerings (IPOs) amid a regulatory probe into four intermediaries in the deals. It marks the latest move in the Chinese regime’s escalating crackdown on the private sector. The Shenzhen Stock Exchange suspended more than 30 IPOs, including public share sale plans by the electronic carmaker BYD Co’s chip…
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