China Recap is a weekly roundup tracking Chinese companies expanding abroad, covering market entries, funding rounds, product launches, and global partnerships.
China’s corporate globalization strategy is evolving fast. Industry giants are rewriting the global playbook, while a new generation of companies charts fresh paths overseas.
China Recap tracks both—focusing on strategic expansion, brand building, and localized operations—to help readers make sense of shifting trends and understand how Chinese firms are reshaping their global approach.
This edition tracks how Chinese electric vehicle makers are balancing overseas growth with domestic partnerships, while managing risks that test the industry’s resilience.
BYD cuts Qin Plus sedan prices in China
BYD is offering RMB 10,000 (USD 1,370) discounts on select Qin Plus sedans through December, extending earlier cuts across models such as the Tang DM-i and Seal 07 DM-i. The Qin Plus remains one of BYD’s bestselling models, but the move follows four consecutive months of weaker sales in China amid official calls to curb price wars. —Reuters
Chery soars as Hong Kong IPO launches
Chery shares jumped 11.2% in their Hong Kong debut, raising HKD 8.8 billion (USD 1.1 billion) in the IPO. The Anhui-based automaker canceled its listing ceremony due to typhoon disruptions and said it will exit Russia, its largest overseas market, by 2027. —Nikkei Asia
BYD ready if Nvidia chips are banned
BYD has a backup plan if access to Nvidia’s automotive chips is cut, executive vice president Stella Li said, citing the company’s in-house tech and past resilience during chip shortages. While no restrictions exist, China’s stance on Nvidia remains uncertain. BYD currently uses Nvidia’s Orin system in its EVs. —CNBC
Huawei, Dongfeng deepen EV alliance
Huawei and Dongfeng Motor are deepening their EV partnership following a leadership meeting in Shenzhen between Ren Zhengfei and Yang Qing. The firms will co-develop smart car tech, with all Voyah EVs this year to feature Huawei systems. A new joint lab aims to drive further innovation. —SCMP
Berkshire Hathaway exits BYD after 17 years
Warren Buffett’s Berkshire Hathaway sold its remaining shares in BYD, ending a 17-year investment that began with a 10% stake in 2008. Berkshire started reducing its holding in 2022 and cut it below 5% by mid-2024. BYD shares fell in Hong Kong and Shenzhen after the disclosure, as the company thanked Buffett and the late Charlie Munger. —Nikkei Asia
Li Auto, SEVB form EV battery JV
Li Auto and Sunwoda’s SEVB arm have formed a joint venture in Shandong to produce EV batteries. The new entity will manufacture Li Auto’s self-developed battery designs. Unlike its partnership with Contemporary Amperex Technology (CATL), Li Auto leads design, materials, and processes to retain brand control and manage costs.
Magna Steyr to build Xpeng SUVs in Austria
Xpeng Motors has partnered with Austrian contract assembler Magna Steyr to produce its G6 and G9 SUVs in Graz. It is the first time Magna has produced complete vehicles for a Chinese automaker. Xpeng said the deal will create a European production base to bring its smart cars closer to local customers. —Nikkei Asia
Safety risk prompts Xiaomi SU7 recall
Xiaomi will recall about 110,000 SU7 cars built before August 30, after regulators flagged safety risks in the vehicle’s Level 2 highway navigation assist system. The recall, covering around 30% of all SU7 sales, will be addressed through over-the-air software updates. It is Xiaomi’s second recall and comes amid stricter oversight of driver assistance systems in China. —Jiemian News
That wraps up this edition of China Recap. If your company is expanding internationally, we’d love to hear about your latest milestones. Get in touch to share your story.