Smart and Sustainable Electric Mobility
Nio delivered 50,045 vehicles in the fourth quarter, exceeding the upper end of its previous guidance range of 47,000 to 49,000 vehicles.
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Li Auto delivered a record 131,805 vehicles in the fourth quarter, with the lowest-priced Li L7 contributing 40 percent.
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Lithium producers including Ganfeng and Tianqi expect their net profits in 2023 to be much lower than in 2022, with the common reason being a sharp drop in lithium prices.
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The earnings preview implies CATL returned to net profit growth in the fourth quarter, after seeing a sequential decline in the third quarter.
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BYD's average profit per vehicle fell by about RMB 1,400 in the fourth quarter from the third quarter, mainly due to promotions through discounts and incentives offered to dealers, a team of analysts said.
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In the fourth quarter, Tesla's revenue from China was a record $6.1 billion, or 24.25 percent of its total revenue.
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BYD achieved a significant improvement in earnings, demonstrating strong resilience despite tougher competition in the industry, the company said.
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Gotion said further reductions in raw material costs and the introduction of Volkswagen's management system have helped it improve efficiency.
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Tesla said its vehicle volume growth rate in 2024 could be notably lower than in 2023 as the team works to roll out next-generation vehicles at its Texas plant.
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Nio reported third-quarter results that were results largely as previewed and gave a better-than-feared outlook for the fourth quarter, said Edison Yu's team.
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