EV

Early EV adopters, particularly those with pre-2018 models, face challenges. Battery degradation leads to reduced range and range anxiety, especially in cold climates. High depreciation and the $6,000-$9,000 cost of battery replacement add further burden. While some praise EVs, the impending need for battery replacement is a primary concern, potentially costing a significant portion of the car’s original value due to limited repair options.

Mariah Carey will soon own an FF 91 2.0 and showcases the vehicle and FFZERO1 concept car in her new music video, “Type Dangerous,” which also features MrBeast. This partnership aims to reinforce Faraday Future’s “Ultimate AI TechLuxury” branding. YT Jia, Faraday Future’s founder, welcomes Carey to the FF 91 2.0 owner family.

Chinese EV makers are aggressively shortening supplier payment cycles, with a 60-day target becoming the new standard. Companies including Geely, Changan, and major state-owned enterprises are implementing this, intensifying competition. Xiaomi, showing forward-thinking supply chain management, has already adopted a 60-day model, offering faster payments than industry norms, thereby fostering supplier loyalty and innovation. Their flexible approach includes immediate payments for some orders and supply chain financing, though the latter raises some concerns. This shift allows suppliers to focus on R&D and quality.

GreenPower Motor Company announced the closing of the third tranche of its secured term loan, securing an additional $300,000. The funds, provided by entities controlled by the CEO and a director, will support production, supplier payments, payroll, and working capital. The two-year loan carries a 12% annual interest rate and includes share purchase warrants and loan bonus shares for lenders. GreenPower aims to meet growing EV demand.

Xiaomi’s founder, Lei Jun, revealed strategic updates, hinting at a transformed approach to the EV market. The YU7 model’s pricing deviates from initial speculations. Xiaomi aims for automotive division profitability as early as Q3/Q4, driven by technological innovation. The company invests heavily in AD and chip design to boost competitiveness. Robotics are also making progress, while Xiaomi maintains a 5% profit margin on hardware, signaling disruption in the competitive landscape.

Richard Yu, Huawei’s automotive executive, criticized underperformance within China’s EV sector. He argued against allowing the “lowest common denominator” to dictate industry standards, likening it to a school where the weakest student hinders progress. Yu advocates for prioritizing innovation and celebrating excellence to avoid complacency and ensure user safety and overall advancement.

NIO Inc. reported strong May 2025 delivery figures. May deliveries reached 23,231 vehicles, a 13.1% year-over-year increase. Year-to-date deliveries totaled 89,225, up 34.7% year-over-year. Cumulative deliveries reached 760,789 vehicles by the end of May, reflecting growth across its NIO, ONVO, and FIREFLY brands. The company’s strategic expansion targets diverse segments.

Leapmotor’s CEO Zhu Jiangming was awarded the 2025 Zhejiang Province Science Entrepreneur, the only automotive leader recognized. The award acknowledges his contributions to EV technology, particularly CTC battery integration and central electronic architecture, enhancing China’s EV competitiveness. The Zhejiang Science Entrepreneurship Program, launched in 2024, aims to cultivate innovative entrepreneurial leaders.

The 2025 Future Automotive Pioneers Conference in Shenzhen highlighted NIO’s advancements. CEO William Li unveiled the unified brand presence of NIO, ONVO, and Firefly, cleverly referencing “Willing to Win” in Chinese. He also emphasized NIO’s commitment to Shenzhen’s innovative spirit and its extensive charging network utilized by 90% of non-NIO vehicle drivers, solidifying NIO’s infrastructure investment in China.

Faraday Future announced the results of its Annual General Meeting, with shareholders approving key proposals including production of FX vehicles by late 2025. The company received shareholder support for financial health initiatives and strategic plans, including the FX Super One launch. The meeting also included the re-election of the board of directors and approval of share authorization. FF is aiming to have the first FX vehicle on the production line by the close of 2025.