WEEK IN REVIEW: China’s BYD Projects One Million EV Deliveries Abroad

BYD said Q3 profit fell 32.6% to $1.1 billion as China price war hit margins, but forecast EV and plug-in hybrid exports to double.
For the first time, Chinese EV firms invested more abroad than at home in 2024, led by Southeast Asia assembly plants. Yet core battery cell production remains in China, Rhodium data shows. Image via BYD Brazil

China is reportedly curbing the use of European tech in its communication networks. State buyers of internet and mobile phone components have to submit contracts with companies like Sweden’s Ericsson and Finland’s Nokia for security review by the Cyberspace Administration of China before the purchase is allowed. The review process can take more than three months. The measure echoes similar checks of Chinese equipment in Western countries and pressure on the Global South. The scrutiny deepened due to a 2022 cybersecurity law that requires local content reporting, down to the individual component. The restrictions are reportedly hitting Ericsson and Nokia’s revenues in China. (FT)

China’s embassy in Mexico rejected comments from a U.S. embassy official calling on the country to help prevent the uptake of advanced Chinese tech like semiconductors. Mark Johnson, the chargé d’affaires at the U.S. Embassy in Mexico, told the US-Mexico Semiconductor Collaboration Forum that “the United States will not tolerate dependence on countries like China” for technologies like semiconductors, and that “the US needs Mexico to play a key role in this regard.” In a statement, the Chinese embassy said U.S. attempts to stop China-Global South cooperation are like “a mantis trying to stop a chariot,” and called on Washington to move beyond zero-sum thinking. (GLOBAL TIMES)

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