GM and Lockheed Martin Partner to Strengthen U.S. Defense Manufacturing Capacity 
Kingboard Holdings Shares Surge After HK$11.77 Billion Block Trade to Expand PCB and AI Supply Chain Business 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
Oil Prices Ease as Markets Weigh U.S.-Iran Peace Deal and Strait of Hormuz Reopening 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Meta Seeks Legal Shield From Child-Harm Lawsuits Amid KOSA Talks 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
G7 Explores AI Access Deal With U.S. Amid Anthropic Restrictions 
SK Hynix Shares Hit Record High After Shipping Next-Generation HBM4E AI Memory Samples 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention 
German Industry Employment Falls to Lowest Level in a Decade 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
BHP Shares Fall as Jansen Potash Project Costs Surge 
Chinese electric vehicle (EV) stocks declined sharply on Monday after new data revealed a slowdown in sales growth for December, heightening concerns about cooling demand in the world’s largest EV market. The weaker-than-expected figures weighed heavily on investor sentiment across the sector, particularly as China begins to scale back policy support for EV buyers.
Shares of BYD, the largest Chinese EV manufacturer and a key bellwether for the industry, fell 2.2% in Hong Kong trading. Although BYD managed to overtake Tesla in global EV sales in 2025, its December sales dropped around 18% year-on-year, marking the fourth consecutive month of decline. The slowdown has raised questions about whether strong overseas expansion, especially in Europe, can continue to offset weaker domestic demand.
Other major Chinese EV makers also posted notable losses. Li Auto slid 2.4% after reporting a steep 24.4% year-on-year drop in December deliveries. NIO and Xpeng saw even sharper declines, falling 6.4% and 5.2%, respectively, reflecting growing investor caution toward growth-focused but loss-making EV companies. Xiaomi, which only recently entered the electric vehicle market, also fell 2.5%, underscoring broad-based pressure across the sector.
According to data from the China Passenger Car Association, EV sales in China grew just 5% year-on-year in December, a significant deceleration from the 32.2% surge recorded in December 2024. The slowdown comes as Beijing moves to gradually wind down EV subsidies and tax exemptions, signaling a shift away from aggressive policy support amid overheated competition. Authorities have also been discouraging automakers from engaging in aggressive price cuts that could further destabilize the market.
Despite strong unit sales in recent years, many Chinese EV makers continue to struggle with profitability, as an intense price war has eroded margins. Tesla has also faced mounting pressure from local competitors in China, while BYD’s expansion into Europe has intensified competition with global automakers. As policy support eases and growth moderates, investors are increasingly focused on which EV companies can sustain demand, protect margins, and remain competitive in a rapidly evolving global market.
