Chinese smartphone maker Xiaomi has become the country’s eighth-largest EV upstart after selling more than 7,000 units of its SU7 sedan in April, according to industry data.

The era of battery-powered cars has truly arrived, as EVs dominated the car show. While carmakers still displayed a lot of futuristic concepts, it was the ongoing price war that had people talking.

Geely Auto’s premium EV unit raised US$441 million by upsizing its IPO by 20 per cent to accommodate demand, according to two sources. The stock is due to debut in New York on Friday.

The carmaker hopes to lure high-end Chinese consumers amid an escalating price war among some of its top rivals.

Strong sales of smartphone vendor Xiaomi’s first electric car have exacerbated a price war in the sector that is squeezing the profit margins of most players in China.

BYD, Xpeng and GAC Aion’s Hyper brand announced expanded collaborations with Nvidia on Monday.

The two companies aim to churn out EV batteries that can last for as long as 15 years, nearly double the current average lifespan, which could help EV users save tens of thousands of yuan, they say.

DreamSmart, the start-up behind smartphone brand Meizu, may seek a valuation of more than US$2 billion for a potential Hong Kong share sale this year, sources say.

The Chinese smartphone maker, which has started taking orders for its maiden EV model, will start deliveries on March 28. The market estimates the car to be priced from 200,000 yuan (US$27,865) to 370,000 yuan.

Geely’s premium electric-vehicle unit Zeekr has cut prices by 10 per cent, joining the fray against mainland Chinese rivals after BYD fired the first salvo this month.

The company, a division of British sports car company Lotus Group in which Chinese carmaker Zhejiang Geely Holding owns a majority stake, will focus on the premium segment despite cheap models dominating the mainland EV market.

High-risk, high-cost mega-infrastructure projects like those backed by Belt and Road Initiative decline in popularity, with developments now seen in sectors with faster returns and fewer operating costs.

The companies will work together to build out battery-swapping stations, which have been growing more rapidly than fixed charging in China.

The Galaxy E8 sells for almost US$25,000 less than BYD’s Han model, and Geely plans to offer seven models under the affordable Galaxy brand by 2025.

Nio will team up with Zhejiang Geely to promote battery swapping technology as the two leading EV makers try to overcome poor charging infrastructure in the world’s biggest EV market.

The carmaker, which saw losses expand to US$537 million in the quarter ended September 30, said it would hand between 59,500 and 63,500 vehicles to customers between October and December, marking an all-time high.

The company has made public its listing documents for an IPO on the New York Stock Exchange in what would be the first major flotation by a Chinese firm in the US since Beijing tightened its approval procedure in 2021.

The joint venture between search-engine giant Baidu and China’s top private carmaker Geely, began delivering an electric vehicle (EV) model with self-driving capabilities in a bid to take on Tesla’s Model Y in the mainland’s cutthroat market.

Brussels is now focused on three Chinese-owned manufacturers in quest to level playing field for European EV makers.

Premier Li Qiang discussed cooperation in the auto sector during a meeting with Russian Prime Minister Mikhail Mishustin this week, with Chinese passenger cars exports having increased by more than six times in the first three quarters.

Recently released guidelines for the development of China’s civil aviation industry have explicitly used the country’s booming NEV industry and the home-grown C919 as examples to follow for future innovations.

The company started European sales of two models just weeks ago and plans to add another seven by 2025, but its aspirations could run into a roadblock should the European Union impose extra import tariffs on Chinese EVs.

‘The revival of the MG brand shows China’s rising manufacturing might in the automotive sector,’ an analyst says, as SAIC leads the country’s push to overtake Japan in annual car exports this year.

Geely Auto, China’s largest privately owned carmaker, is betting on a strategy of price reductions as it plays catch-up with EV market leaders such as Tesla.

Chinese search and AI giant Baidu has taken a substantial step towards tapping the country’s fast-growing electric vehicle sector, after it received a permit from regulators to assemble its first production model.

The 200-strong team has become the second casualty among smartphone-related ventures that have heeded Beijing’s call for semiconductor self-sufficiency.

Renault has formally signed a joint-venture agreement with Zhejiang Geely Holding Group to set up a new combustion engine and hybrid power-train company, while Saudi Aramco is still mulling an investment.

Geely will acquire a 17 per cent stake in Aston Martin Lagonda Global Holdings to become UK sports car maker’s third largest shareholder.