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Xiaomi denies Evergrande NEV stake rumors

Credit: Xiaomi/X

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Chinese tech giant Xiaomi has denied rumors that it is planning a 58.5% stake in Evergrande New Energy Vehicle Group (Evergrande NEV). Xiaomi’s denial of the rumors was posted by a spokesperson of the company on Chinese social media platform Weibo. 

“Xiaomi EV has never had any plans or moves to acquire or take a controlling stake in Evergrande NEV,” the Xiaomi spokesperson wrote. 

Rumors about Xiaomi’s supposed interest in a stake in Evergrande NEV came amidst the company’s challenges in meeting the demand for the Xiaomi SU7, an all-electric sedan that was benchmarked against the well-loved Tesla Model 3. Since its launch, the SU7 has proven very popular thanks to its blend of features and aggressive price.

As noted in a CNEV Post report, the rumors suggested that Xiaomi was looking to acquire a 58.5% stake in Evergrande NEV so it could use the company’s facilities to address its capacity issues. Speculations even suggested that Xiaomi was planning on using Evergrande NEV’s Tianjin factory to expand its production capacity. 

The Xiaomi SU7 has been received very well, but the tech giant is now facing the challenge of mass producing the all-electric sedan. The company has been ramping the SU7 fairly quickly, with 10,000 units of the all-electric sedan being produced in just 32 days at Xiaomi’s Beijing factory. Even such a ramp, however, does not seem to be enough to meet the demand for the vehicle. 

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In mid-May, reports emerged that wait times for the Xiaomi SU7 have started reaching up to 37 weeks for new customers. Amidst these challenges, Xiaomi has reportedly increased its supply chain orders by up to 80%, and the company is doubling the shifts in its Beijing plant this coming June. More recently, Xiaomi also announced that it is increasing its delivery target by 20% to 120,000 units this 2024. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla updates its “FSD” branding in China

The functions of the systems, despite their updated names, remain unchanged.

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Credit: @DriveGreen80167/X

Tesla has tweaked the naming of its smart driving system offerings in China, with the company dropping “FSD” terminology from its vehicle order pages. The update was observed by industry watchers earlier this week.

Names Adjusted, Features Intact

Tesla China’s RMB 64,000 ($8,820) package—once listed as “FSD Intelligent Assisted Driving”—has been updated to “Intelligent Assisted Driving.” Its RMB 32,000 mid-tier system, previously dubbed “Enhanced Version Automated Assisted Driving”, has also been updated to “Enhanced Assisted Driving.”

Tesla’s basic Autopilot system, which was previously dubbed “Basic Version Assisted Driving,” has been changed to “Basic Assisted Driving” as well. Even the system’s umbrella term has been updated from “Autopilot Automated Assisted Driving” to simply “Assisted Driving Package.”

It should be noted that the functions of the systems, despite their updated names, remain unchanged, as noted in a CNEV Post report.

FSD’s China Evolution

Tesla China rolled out its first set of FSD features in late February, though the company made it a point to not brand the update as a release of “Full Self-Driving” features. Tesla China implemented a naming change to FSD at the time, updating its top-tier RMB 64,000 package’s name from “Full Self-driving Capability” to “FSD Intelligent Assisted Driving.” Tesla also launched an offer that allowed customers in China to experience the newly-released FSD features for free until April 16, though reports later suggested that the program was paused.

Cautious Steps Forward

Tesla has not explained the reasons behind FSD’s name change in China, though it seems to suggest that the company may be taking a rather cautious approach towards the eventual, planned release of an autonomous driving system in the country. As it is today, FSD is very capable and its real-world tests in China are very impressive. However, it is still not an unsupervised self-driving system. It would then not be surprising if “Full Self-Driving” terminology in China is reintroduced once unsupervised FSD is released.

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Tesla faces Trump’s 25% tariffs as Musk stays silent

Trump’s 25% tariffs could help Tesla or mess up its supply chain. How will Giga Texas and the Fremont Factory respond to Trump’s tariffs? 

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The White House, Public domain, via Wikimedia Commons
(Official White House Photo by Molly Riley)

Tesla faces a fresh hurdle after President Donald Trump announced 25% tariffs on all non-U.S.-made cars on Wednesday. The President clarified that Elon Musk stayed silent and provided no input into the 25% tariffs.

“He may have a conflict,” Trump noted. He added that Musk, who heads Tesla and the efficiency-driven DOGE initiative, has never asked for business favors.

Trump’s tariffs are set to begin on April 2 for imported cars, and by May 3, the levies will hit imported auto parts, stirring questions about Tesla’s fate. Trump told reporters the impact might be “net neutral or good,” mentioning Tesla’s plants in Austin, Texas, and Fremont, California.

“Anybody with plants in the U.S.—it’s going to be good for them,” he said. Yet Tesla recently warned the U.S. Trade Representative in a letter that “certain parts and components are difficult or impossible” to source domestically, even with ‘aggressive localization.’ The company urged caution over the “downstream impacts” of trade actions.

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According to CNBC, Tesla and other automakers rely on foreign suppliers in Mexico, Canada, and China for headlamps, brakes, glass, suspension parts, and circuit boards. Musk has commented that Trump’s tariffs would significantly impact Tesla.

Trump’s tariffs have affected companies abroad, including Tesla suppliers in India. Competition is heating up as more brands roll out electric models, though China’s BYD remains barred from U.S. sales. Shares of Tesla, General Motors, Ford, and Rivian dipped slightly after hours following the announcement.

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Tesla suppliers in India hit by Trump’s 25% Auto Tariffs

Trump’s new 25% auto tariffs shook India’s auto market. Tesla suppliers like Tata Motors saw stocks plunge.

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Credit: Tesla China

Tesla suppliers in India, including Tata Motors and key auto parts makers, saw sharp declines on Thursday after U.S. President Donald Trump unveiled plans to impose 25% tariffs on all imported cars and auto parts.

According to the Trump Administration, the U.S. President’s 25% tariffs will hit imported cars and light trucks coming into the United States by April 2, 2025. By May 3, 2025, Trump’s tariffs will extend to include auto parts. The decision sent shockwaves through the global auto industry, with Tesla CEO Elon Musk noting on X that the impact on the EV giant is “significant.”

Despite Musk’s words, many believe that Tesla will benefit from Trump’s tariffs. Although, it would probably adversely affect Tesla’s plans to enter the Indian market. Tesla has already started the certification process for two vehicles in India.

Following Trump’s tariff announcements, Tata Motors dropped 5%, while Sona Comstar, Tesla’s largest Indian supplier, fell over 4%, dragging the auto sector down 1.2% in India, the world’s third-largest auto market. Reuters reported that Tata Motors-owned Jaguar Land Rover (JLR), which exports luxury vehicles from the UK and Slovakia, relies heavily on the U.S. as a key market.

Other Indian suppliers felt the strain as well. Samvardhana Motherson, a major auto parts provider, slipped over 2%. Meanwhile, Tesla supplier Bharat Forgedipped by 0.4%. The U.S. accounts for 20% of Samvardhana’s revenue and 40% of Sona Comstar’s, with North America as its dominant region. The downturn echoed broader losses among global carmakers like Toyota, Hyundai, Stellantis, and Ford–all of which saw shares slide after the tariff news broke.

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