Streetbeat News

BCCMY

BAIC Motor Corporation Limited

http://www.baicmotor.com/

Industry

Automobile Manufacturing

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The EV market experienced a turbulent week with significant developments. Tesla launched its Cybertruck in Canada and reported strong sales in China, but faced criticism from Sen. Elizabeth Warren. Rivian and Nikola exceeded Q2 expectations, while Lucid received a $1.5 billion cash infusion from its largest shareholder. Canoo faced a lawsuit, and Huawei entered the EV market. The KraneShares Electric Vehicles and Future Mobility Index ETF fell 2.58% for the week.

Portfolio Pulse from Shanthi Rexaline

August 10, 2024 | 1:30 pm

Xiaomi Corp. is entering the EV market with its first car, the Xiaomi SU7, set to begin mass production in December 2023. The EV will be produced by BAIC, feature two powertrain options, and use battery packs from BYD and CATL. The SU7 will have a top speed of 165MPH and include facial recognition and an active rear wing. Xiaomi's HyperOS will power the in-car system, and the series will include SU7, SU7 Pro, and SU7 Max, with deliveries starting in February 2024.

Portfolio Pulse from Rounak Jain

November 15, 2023 | 1:48 pm

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