BYD Co

Volkswagen is considering once-unthinkable factory shutdowns in Germany, while Stellantis is slashing output of Fiat 500 EVs in Italy, citing waning European sales.

A screenshot of an email purportedly from the Shenzhen-based auto giant demands 10% price cuts from an unnamed supplier from January.

BYD's revenue soared 24% y-o-y to RMB201.1 billion (US$28.2 billion or $37.37 billion) for the three months ending Sept 30, exceeding Tesla whose sales hit US$25.2 billion in the same period.

Nio Inc. was taking around 295 days to clear its receipts payable at the end of 2023 versus 197 days in 2021.

BYD should find out within days whether it has sold enough cars to overtake Tesla for the first time on a quarterly basis.

Elon Musk once scoffed at the notion that BYD could compete with his company. Now, the automaker is poised to be the new no. 1.

(Nov 22): Contemporary Amperex Technology Co (CATL) and BYD Co saw sharp declines in sales of electrified-vehicle batteries in September as demand weakened in China, where the government is cutting subsidies in the EV sector.