CX Daily: How BYD Lowered the Bar for Buying a Smart Car in China
TOP STORIES
BYD?/
In early 2023, BYD Co. Ltd. Chairman and CEO Wang Chuanfu called autonomous driving “hokum,” making it something of a surprise when the Chinese automaker on Feb. 10 launched 21 budget models fitted with its God’s Eye intelligent driving system.
The sticker price of these models ranges from 70,000 yuan ($9,650) and 200,000 yuan — at the bottom end of what it costs to buy a vehicle with autonomous driving capabilities in China. ?
Two Sessions?/
China’s central government is ramping up efforts to crack down on profit-driven law enforcement, rolling out measures to curb abuses and to improve the business climate.
Amid sluggish economic growth in recent years, some local governments have turned law enforcement into a profit-making scheme to bolster their budgets.
FINANCE & ECONOMY
AICs?/
China is expanding its pilot program for financial asset investment companies (AICs), allowing more commercial banks to participate and bringing insurance funds into the fold.
The move aims to strengthen equity investment in technological innovation and private enterprise development. ?
Quick hit?/
BUSINESS & TECH
Wind?/
Chinese manufacturers exported wind turbines with a total capacity of 5.19 gigawatts (GW) in 2024, a nearly 42% increase from the year before, with most going to countries involved in the Belt and Road Initiative (BRI).
The top five destinations for turbine exports were Saudi Arabia, Uzbekistan, Brazil, Egypt and Kazakhstan, a report published last week by the Chinese Wind Energy Association (CWEA) showed. Only Brazil is not part of the BRI, a multibillion-dollar global infrastructure project led by Beijing. ?
BRIEFING
A rundown of the news making headlines in and around China:
Huawei 5G: Despite facing years of sanctions and hostility from overseas, Huawei Technologies Co. Ltd. remains a major player in network infrastructure. In 2024, the Chinese tech giant deployed more than 100,000 5G-A base stations globally, a Huawei executive told Caixin at the Mobile World Congress in Barcelona on Tuesday...
Electric cars: Huawei is set to roll out two new models under its Aito electric vehicle (EV) brand — an upgraded version of the M9 is scheduled to be launched in March, followed by an all-new M8 in April...
Lithium find: Sichuan province has struck white gold with a one-million-ton-plus lithium mine. A recent review of the Dangba mine in Maerkang by the Sichuan Department of Natural Resources published Tuesday found an additional 440,000 tons of lithium oxide resources, taking the total reserves to 1.1 million tons... ?
GALLERY
The two biggest annual events on China’s political calendar kicked off this week in Beijing. The annual meetings of the national legislature and the top political advisory body began with much fanfare, including a performance by a military band. The meetings are widely covered by the media as they can offer a glimpse into China’s policy priorities for the year.