Tesla and its rival electric vehicle manufacturers in China signaled a truce after a months-long price war and agreed to a “socialist values” pledge. Tesla CEO Elon Musk, who is also the owner of Twitter and SpaceX, and Chinese automaker CEOs, agreed to adhere to a “core socialist values” pledge and to compete fairly in…

The electric vehicle (EV) price war in Australia has intensified as the third Chinese automaker enters the race with a significant price drop. Great Wall Motor (GWM), a Chinese car manufacturer, has announced it would slash $4,000 (US$2,700) from the entry model of its Ora, an electric hatchback, bringing the price down to $39,990. The…

Two Chinese car manufacturers have sparked an electric vehicle (EV) price war in Australia with their plans to roll out “the most affordable” electric car on the market this week. On June 19, MG Motor, which Chinese automaker SAIC Motor owns, announced the release of an entry-level model for its MG4 electric SUV at $38,990 (US$26,500),…

A second object was shot down. This time, President Joe Biden ordered troops to ground it over Alaska. The Pentagon says it posed a threat to civilian aircraft. Meanwhile, Biden says the Chinese spy balloon from last week did not pose a major breach, as the FBI sifts through the recovered debris. Questions are swirling…

Commentary Since 2020, China’s electric vehicle makers have been on a streak. Other vehicle manufacturers are starting to look nervously in their rear-view mirrors, err … cameras, and in some cases, side-views. Some, like Volvo, are even looking at their stock and realizing that a Chinese competitor has already bought a controlling share. Is China’s…

New Analysis Amid a grim outlook of the Chinese economy, particularly its technology sector, foreign investors have been cashing out their gains on Chinese stocks, fearing their values might plummet further. Meanwhile, some investors have turned their attention to Taiwanese tech firms. Berkshire Hathaway, Warren Buffett’s investment firm, has reduced its holdings of BYD, a…

OMAHA, Neb.—Warren Buffett’s company slashed its stake in U.S. Bank’s parent company and also sold shares in Chinese electric car maker BYD in the third quarter, according to regulatory filings Monday. The moves were among several others including a more than $4.1 billion investment in Taiwan Semiconductor that Berkshire Hathaway disclosed in the filings with…

Commentary When Berkshire Hathaway, Warren Buffett’s investment firm, began trimming its stake in Chinese electric car and battery maker BYD, rumors began circulating on what it means for the company, China’s stock market, and ordinary investors following Chinese stocks. But to regular everyday investors who follow Buffett, it means very little. On the surface, the…

Commentary The competition over electric cars is heating up, and China’s BYD just pulled ahead of Tesla. BYD sold 641,000 vehicles in the first six months of the year, with Tesla selling just 564,000. Tesla only sells electric vehicles (EVs), whereas one of BYD’s strengths is not only EVs, about half of unit sales, but…

Chinese bourses have halted 42 initial public offerings (IPOs) amid a regulatory probe into four intermediaries in the deals. It marks the latest move in the Chinese regime’s escalating crackdown on the private sector. The Shenzhen Stock Exchange suspended more than 30 IPOs, including public share sale plans by the electronic carmaker BYD Co’s chip…