BYD Became the World’s Seventh-Largest Automaker

According to sales data from research firm MarkLines and automotive manufacturers, BYD’s global sales surpassed those of Honda and Nissan in the second quarter of this year, making it the seventh-largest automaker in the world. This achievement is primarily attributed to the strong demand for its affordable electric vehicles.

The data shows that from April to June this year, while most major automakers, including Toyota and Volkswagen Group, experienced a decline in sales, BYD’s global new car sales increased by 40% year-on-year to 980,000 units. This significant growth is largely due to the increase in its overseas sales, which reached 105,000 units in the second quarter, nearly tripling year-on-year.

Xiaomi Explores Entry into the European Market

Xiaomi Group executives, including Lei Jun and Lu Weibing, recently visited several European manufacturers, such as BMW, Ferrari, Lamborghini, and Leica, to explore potential cooperation. Lu Weibing mentioned that Europe lags behind China in transitioning to new energy vehicles, but Xiaomi must approach the automotive market with respect. The company is studying the timing of Xiaomi Automobile’s entry into the European market.

EU Adjusts Tariffs on Chinese-Made Electric Vehicles

On August 20, the European Commission announced that it had disclosed the final draft report of its anti-subsidy investigation into Chinese-made electric vehicles to relevant parties. The draft includes three key updates: first, further adjustments to the anti-subsidy tariff rates for Chinese electric vehicle manufacturers; second, Tesla’s Chinese exports will enjoy the lowest individual tariff rate; and finally, the EU has decided not to impose anti-subsidy tariffs retroactively.