Overview
- BYD said first‑quarter net profit fell 55.4% to 4.1 billion yuan as China sales weakened, with revenue down 11.8% for a third straight quarterly decline.
- To offset the slide, the company is pushing overseas growth toward a 2026 target of 1.5 million exports and it opened pre‑sales for its new full‑size Great Tang/Datang electric SUV at the Beijing show, saying it logged over 30,000 orders within 24 hours at a roughly $36,000 starting price in China.
- Chinese brands used Auto China 2026 to move upmarket with software‑rich models and fast charging, as CATL showcased a Shenxing battery that can charge from 10% to 98% in 6 minutes and 27 seconds.
- Foreign carmakers are turning to Chinese tech in a “reverse joint venture,” with Volkswagen and Xpeng delivering a new electronics software platform in 18 months and Nissan, Hyundai and Stellantis preparing China‑developed models for export.
- Europe is feeling the shift as registrations of Chinese EVs surge, BYD ranks as the most over‑compliant under EU fleet CO2 rules that allow pooling with cleaner makers, and rivals like Kia cut prices while Volkswagen restructures to speed its transition.