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<ul class="summary-list"><li>China is the biggest market for electric vehicles on the planet. </li><li>It's a crucial battleground for Tesla, where rival BYD is about to officially steal its crown as most popular. </li></ul><p>China is the biggest market in the world for electric cars and a crucial region for <a href="https://www.businessinsider.com/tesla">Tesla</a>, the world leader in battery-powered car sales. </p><p>But the country's electric vehicle market is ripe with competition from established automakers and startups. Although the <a href="https://www.businessinsider.com/tesla-model-y-review-interior-price-first-drive-2022-9">Tesla Model Y</a> was the second-best-selling electrified SUV in China in 2022, many other models are making things difficult for Elon Musk.</p><p><a href="https://markets.businessinsider.com/news/stocks/warren-buffett-elon-musk-berkshire-hathaway-sells-byd-stock-electric-2023-5">BYD </a>is about to <a href="https://www.bloomberg.com/news/features/2023-12-27/elon-musk-s-tesla-is-losing-ev-race-to-china-s-byd?srnd=premium">overtake Tesla</a> as the world's most-popular EV brand by sales thanks to a slew of fun and affordable models that don't resemble anything you can buy in the <a href="https://www.businessinsider.com/electrc-vehicle-demand-problem-affordability-expense-price-cost-2023-10">United States, where there aren't many particularly cheap options to choose from.</a></p><p>The Warren Buffett-backed company sold just a few thousand cars shy of Tesla in the third quarter, and fourth-quarter data could finally tip the scales in the coming days. </p><p>The models listed below were China's most popular non-Tesla electrified SUVs in 2022, according to <a href="https://cnevpost.com/2023/01/12/top-performers-in-china-nev-market-in-dec-2022-cpca/#:~:text=Top%2Dselling%20new%20energy%20SUVs%20at%20retail%20in%20China%20in%202022" target="_blank" rel="noopener">data gathered by CnEVPost</a>. (Note: Since China considers both electric and plug-in hybrid vehicles as "new energy vehicles," this ranking includes both types of EVs.)</p><h2>BYD Song</h2><div type="image" title="The BYD Song Plus DM-i plug-in hybrid." height="1667" width="2500" msid="97498394" hostid="261"></div><p>The Song is Warren Buffett-backed <a href="https://markets.businessinsider.com/news/stocks/warren-buffet-berkshire-hathaway-byd-ev-ford-germany-production-plant-2023-1">BYD's</a> top-selling electrified vehicle. It comes as both a plug-in hybrid and a full-blown EV. Plus, it's now available outside of China.</p><div type="image" title="The BYD Song Plus DM-i plug-in hybrid." height="1630" width="2500" msid="97498395" hostid="261"></div> <br /><br />BYD launched the Song Plus DM-i hybrid in Brazil recently, where it costs roughly $53,000 and provides 62 miles of electric range.<h2>BYD Yuan Plus</h2><div type="image" title="The BYD Yuan Plus." height="1735" width="2500" msid="97498396" hostid="261"></div><p>The Yuan Plus, also known as the Atto 3 in some markets, boasts 201 horsepower and hits 62 mph in 7.3 seconds, BYD says. The firm quotes a range of up to 298 miles. In Europe, the Yuan Plus costs roughly $41,300.</p><h2>BYD Tang</h2><div type="image" title="The BYD Tang electric SUV." height="1107" width="1476" msid="97498398" hostid="261"></div><p>The Tang is bigger, rangier, and more expensive than the Song and Yuan Plus. It can hit 62 mph in 4.4 seconds and drive more than 300 miles on a full battery, BYD says. It's available with dual motors and all-wheel drive and has a panoramic sunroof.</p><div type="image" title="The BYD Tang." height="1080" width="1620" msid="97498400" hostid="261"></div><p>Like other BYD models, it has a sleek, futuristic, screen-heavy interior. It costs the equivalent of roughly $78,000 in Europe. </p><h2>Aion Y</h2><div type="image" title="The Aion Y." height="1667" width="2500" msid="97498403" hostid="261"></div><p>The Aion Y comes from GAC, a state-owned automaker. The bold-looking SUV is about as big as a Toyota RAV4, promises 379 miles of range, and offers up several bright interior options.</p><h2>Neta V</h2><div type="image" title="The Neta V." height="1667" width="2500" msid="97498404" hostid="261"></div><p>The Neta V has a 14.6-inch, portrait touchscreen, Tesla-inspired wood trim across its dash, and up to 249 miles of range. Acceleration doesn't seem terribly impressive: It claims to hit 31 mph in 4.9 seconds.</p><h2>Li Auto Li ONE</h2><div type="image" title="Li Auto One." height="1667" width="2500" msid="97498406" hostid="261"></div><p><a href="https://www.businessinsider.com/china-united-states-electric-vehicle-market-share-auto-brands-pricing-2023-1">Li Auto</a> is a young auto startup that started production in 2019. The Li One was its debut SUV — a plug-in hybrid, six-seat, luxury vehicle. The stylish SUV has a leather-filled interior, a wide array of screens, and 671 miles of hybrid range.</p><h2>Zeekr 001</h2><div type="image" title="The Zeekr 001." height="1667" width="2500" msid="97498407" hostid="261"></div><p>Zeekr is the <a href="https://www.businessinsider.com/polestar-2-vs-tesla-model-3-range-performance-electric-2023-1">premium electric brand from Geely</a>, the Chinese auto group that also owns Volvo and Lotus. The 001 is its first model.</p><p>It brings intense performance, with a 0-62-mph time of 3.8 seconds. Plus, it advertises extremely quick charging speeds and the ability to add around 75 miles of range in just five minutes plugged in.</p>

Tesla's biggest Chinese rival is about to overtake Elon Musk. These fun and affordable models show why.

<ul><li>This year’s initial <keyword id="19894908" type="General" weightage="20" keywordseo="festive-season" source="keywords">festive season</keyword> has been good for smartphone makers, with an 11% increase in sales.</li><li><keyword id="19897758" type="General" weightage="20" keywordseo="Samsung" source="keywords" meta.keywordsubtype="org" meta.entityname="Samsung" meta.hostid="261" meta.entityid="Samsung">Samsung</keyword> has emerged as the biggest smartphone maker in the first phase, followed by <keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="261" meta.entityid="Apple">Apple</keyword>.</li><li>Samsung recorded a 20% market share in the first phase, followed by Apple with a 16% market share.</li></ul>The festive season is here and e-commerce platforms Amazon, Flipkart and others have started their festive sales, offering devices such as smartphones at a discounted price.<br /><br />According to a report by Tech Insights, <keyword id="21017681" type="General" weightage="20" keywordseo="smartphone-sales" source="keywords">smartphone sales</keyword> recorded an 11% growth in the first wave of the festive season sales in India between September 26 to October 6.<br /><br />Among the smartphone makers, Samsung topped the chart with a 20% market share in volume terms during the first phase.<br /><br />"Samsung led the smartphone sales volume with a 20% market share followed by Apple in the first wave of the festive season," Tech Insight said in a blog.<br /><br />Apple is also gaining speed in the Indian market, with over 10 lakh iPhones being sold during the 11-day sale period.<br /><br />The top-selling models for Samsung include the Samsung Galaxy M35, Galaxy S23, Galaxy A14, Galaxy S23 FE and more.<br /><br />"Samsung was also the main sponsor for sales events on Flipkart and Amazon which also gave it an additional push. Samsung sales in unit terms grew 17% year-on-year in 2024's first wave compared to 2023's first wave," the blog said.<br /><br />The platform estimates that online sales volume accounted for 78% of the total sales during the phase 1 period. It was driven by online sales festivals like Big Billion Days on Flipkart and The Great Indian Festival on Amazon India while offline sales started to pick momentum with the start of Navratri.<br /><br />Apple was a surprising second with a 16% market share driven by strong sales of the iPhone 15 which crossed a million mark in 11 days of sales. iPhone 13 followed but the sales gap between iPhone 15 and 13 was significant.<br /><br />Oppo, OnePlus, Xiaomi, and Realme were also among the top vendors in the first wave of the festive season by volume.<br /><br />"North region sales were less compared to other region sales due to the importance of Shradh in this region. Also, states like West Bengal and Gujrat experienced better sales compared to other regions given the preparation for the popular Durga Pooja festival in these states," the blog said.<br /><br /><em>With inputs from agencies.</em><br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/business/auto/news/byd-emax-7-electric-mpv-launched-in-india-starting-at-26-9-lakh/slidelist/114046121.cms">BYD eMax 7 electric MPV launched in India starting at ₹26.9 lakh</a><br /><br /><a href="https://www.businessinsider.in/personal-finance/news/heres-how-a-reddit-user-was-able-to-get-an-iphone-16-at-under-27000/articleshow/114035179.cms">Here’s how a Reddit user was able to get an iPhone 16 at under ₹27,000</a><br /><br /></strong><a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms"><strong>Hyundai To Swiggy: Everyone wants to cash in on the IPO bonanza</strong></a><br />

Samsung leads the first phase of festive sales with a 20% market share

<ul class="summary-list"><li><keyword id="6357837" type="UNKNOWN" weightage="60" keywordseo="kim-kardashian" source="Orion">Kim Kardashian</keyword>, <keyword id="11955359" type="UNKNOWN" weightage="60" keywordseo="floyd-mayweather" source="Orion">Floyd Mayweather</keyword>, and Paul Pierce are being sued by crypto investors.</li><li>The <keyword id="11921506" type="UNKNOWN" weightage="60" keywordseo="lawsuit" source="Orion">lawsuit</keyword> alleges the celebrities duped fans into buying EMAX tokens that plummeted 98% in value. </li></ul><p><keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">Cryptocurrency</keyword> investors are suing Kim Kardashian, Floyd Mayweather, and Paul Pierce in a lawsuit that alleges the celebrities duped fans into buying EMAX tokens that eventually plummeted 98% in value. </p><p>The <a href="https://www.scribd.com/document/552290881/Crypto#fullscreen&amp;from_embed">class-action complaint</a> was filed on behalf of all investors who purchased EthereumMax tokens between May 14 and June 27, 2021. </p><p>Kardashian first promoted the digital tokens in an Instagram ad she posted that June: </p><p>The advertisement reached approximately <a href="https://morningconsult.com/2021/09/21/kim-kardashian-crypto-celebrity/">1 in 5 US adults</a> and 3 in 10 crypto owners, according to the data intelligence company Morning Consult. </p><p>Former NBA player Paul Pierce similarly promoted EMAX on Twitter on May 26, the lawsuit says. The same day, the cryptocurrency was publicized as the "exclusive Cryptocurrency accepted for online ticket purchasing" for the Floyd Mayweather vs. Logan Paul boxing match. </p><p>By mid-July, EMAX had crashed to a record-low of $0.000000017 per unit, according to the lawsuit. Meanwhile, the defendants "marketed the EMAX Tokens to investors so that they could sell their portion of the float for a profit," the claim alleges. </p><p>"In plain terms, EthereumMax's entire business model relies on using constant marketing and promotional activities, often from "trusted" celebrities, to dupe potential investors into trusting the financial opportunities available with EMAX Tokens," the lawsuit says.</p><p>Attempts to reach representatives for Kardashian, Pierce, and Mayweather for comment were unsuccessful.</p>

Kim Kardashian and Floyd Mayweather have been sued by investors over 'misleading' cryptocurrency promotions

<ul class="summary-list"><li>Ethereum max has lost 95% of its value since June 2021, when Kim Kardashian promoted it.</li><li>Investing in tokens like EMAX is risky because the value can plummet, experts have told Insider.</li></ul><p>If you'd been swayed by Kim Kardashian to buy ethereum max tokens last year, your holdings would have lost 95% of their value by now.</p><p>Kardashian promoted the token <a href="https://www.businessinsider.com/kim-kardashian-crypto-ad-instagram-post-screenshot-2022-10">on her Instagram story</a> in June 2021 — a post that's now landed her in hot water with the Securities and Exchange Commission. The SEC announced Monday that Kardashian <a href="https://www.businessinsider.com/kim-kardashian-undisclosed-instagram-crypto-ads-sec-settlement-ethereummax-emax-2022-10">would be fined $1.26 million</a> and had agreed not to promote any crypto securities for three years to settle charges that she failed to disclose how much she'd been paid to promote ethereum max.</p><p>In the 16 months since her post, the token's value has dropped 95.3%. That means that if you invested $100 after Kardashian promoted the token, your investment would be worth about $5 today.</p><div type="image" title="kim kardashian crypto ad" height="1334" width="750" msid="94628365" hostid="261"></div><h2>EMAX's value relies on hype from promoters like Kardashian</h2><p>Ethereum max, aka EMAX, has been <a href="https://www.businessinsider.com/ethereum-max-kim-kardashian-token-safemoon-crypto-coin-price-cryptocurrency-2021-6">mired in controversy</a> since launching in May 2021. The token isn't affiliated with the well-known ethereum cryptocurrency — instead, EMAX is an altcoin that uses ethereum's blockchain ledger to record sales and transactions.</p><p>EMAX's value is based in hype: As investors and promoters like Kardashian spread the word, more people invest and the price goes up. (Kardashian was paid $250,000 for her post, the SEC said — presumably in US dollars, though the regulator didn't disclose that information. As part of the settlement, Kardashian neither admitted nor denied the SEC's allegations.)</p><p>Altcoins like EMAX lack the stability of older types of cryptocurrencies, like bitcoin and ether. And EMAX has never reached meteoric highs like bitcoin has: At its peak in November, bitcoin was worth about $69,000 a coin, while EMAX hit a peak that equated to $0.000000051 shortly after its launch, <a href="https://coinmarketcap.com/currencies/ethereummax/">according to CoinMarketCap</a>. </p><p>Tokens like EMAX make for riskier investments because once investors stop buying or start selling, the token's value can quickly plummet, <a href="https://www.businessinsider.com/ethereum-max-kim-kardashian-token-safemoon-crypto-coin-price-cryptocurrency-2021-6">crypto experts told Insider</a> last year.</p><p>EMAX did just that. By January, the token's value had plunged 98%, <a href="https://www.businessinsider.com/kim-kardashian-and-floyd-mayweather-sued-by-crypto-investors-2022-1">leading investors to sue</a> Kardashian and other celebrities who had promoted the token, including the boxer Floyd Mayweather and the former NBA star Paul Pierce. Both Kardashian and Mayweather have filed motions to dismiss the suit, with their lawyers arguing that there's insufficient evidence their endorsements led to the plaintiffs to buy EMAX.</p><p>While it's unclear how many people invested based off the celebrity endorsements, <a href="https://morningconsult.com/2021/09/21/kim-kardashian-crypto-celebrity/">Morning Consult data found</a> that Kardashian's advertisement reached about one in five US adults and roughly 30% of crypto owners.</p>

If you bought EMAX crypto tokens when Kim Kardashian promoted them on Instagram, you'd have lost over 95% of your money by now

<ul class="summary-list"><li>Warren Buffett's Berkshire Hathaway has sold around $600 million of BYD stock since mid-July.</li><li>Berkshire has cut its stake in the Chinese EV maker by 8% to 207 million shares, worth $5.7 billion.</li></ul><p>Warren Buffett's <a href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a> has cashed in about $600 million of BYD stock in under two months, pocketing a roughly 35-fold profit on the Chinese rival to Elon Musk's <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>, a Markets Insider analysis shows.</p><p>The famed investor's conglomerate <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-gain-byd-electric-vehicles-investment-2021-1-1029995920?miRedirects=1">spent $232 million</a> to acquire 225 million shares of the electric-vehicle maker in 2008. It <a href="https://markets.businessinsider.com/news/stocks/byd-stock-price-warren-buffett-berkshire-hathaway-china-electric-cars-2022-7">listed</a> the entire position on the Hong Kong Stock Exchange's clearing system on July 12, then cut it by 8% to 207 million shares by September 1, <a href="https://di.hkex.com.hk/di/NSNoticePersonList.aspx?sa2=np&amp;scpid1=105122&amp;scpid3=2&amp;scpid2=2508&amp;sa1=pl&amp;scsd=01%2f09%2f2021&amp;sced=01%2f09%2f2022&amp;pn=berkshire+hathaway+energy&amp;src=MAIN&amp;lang=EN&amp;g_lang=en&amp;">exchange filings show</a>.</p><p>Berkshire paid around $1 a share when it invested in BYD, and has now sold nearly 18 million shares at a weighted-average price of $35, based on the stock's trading range in recent weeks.</p><p>The disposals, and fears that Buffett and his team will keep selling or even eliminate the holding entirely, have sparked a 30% plunge in BYD's stock price since July 11, the day before Berkshire's stake appeared in the clearing system.</p><p>The conglomerate's remaining BYD stake is worth about $5.7 billion on paper, down 35% from a peak of $8.8 billion in late June.</p><p>Under stock-exchange rules, Berkshire only has to disclose transactions that change its percentage stake by a whole number. As a result, Buffett's company can sell another 9.6 million shares before its ownership of BYD's Hong Kong-listed shares drops below 18% and it's required to update the market.</p><p>Berkshire's decision to trim its BYD stake this year was <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-byd-stock-sales-charlie-munger-li-lu-2022-9">foreshadowed</a> by Buffett's business partner, Charlie Munger, ostensibly selling $50 million of the automaker's stock in December. Munger was introduced to BYD by a hedge fund manager named Li Lu, whose fund also sold more than a quarter of its BYD shares last summer, and may have exited the position entirely since then.</p><p>Munger persuaded Buffett to invest in BYD by <a href="https://markets.businessinsider.com/news/stocks/charlie-munger-warren-buffett-berkshire-hathaway-costco-byd-stock-pabrai-2022-6?utm_medium=ingest&amp;utm_source=markets">championing</a> its CEO, Wang Chuanfu, as "Thomas Edison, Henry Ford, and Bill Gates all in the same person."</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/steven-check-warren-buffett-berkshire-hathaway-stock-chevron-occidental-energy-2022-8">Veteran investor Steven Check has $655 million riding on Warren Buffett's Berkshire Hathaway. He explains why he's still bullish on the stock, and analyzes Buffett's $50 billion stock-buying spree this year.</a></em></p>

Warren Buffett's Berkshire Hathaway has sold about $600 million of Chinese EV maker BYD's stock in under 2 months

<ul class="summary-list"><li>Toyota and BMW both reported plunging profits on Wednesday.</li><li>The Japanese and German automakers have faced falling sales in China.</li></ul><p>China's EV giants are rising, putting foreign automakers under pressure in the world's largest car market.</p><p>Toyota and BMW reported a drop in quarterly profits on Wednesday, with sales in China slumping for both companies as they face growing competition <a target="_blank" class="" href="https://www.businessinsider.com/why-byd-is-beating-tesla-ev-rivals-china-2024-11">from local automakers like BYD</a>.</p><p>Toyota's profit for the quarter ending in September was 573.7 billion yen ($3.7 billion), down from nearly 1.28 trillion yen ($8.3 billion) over the same period last year.</p><p>The company is grappling with a slowdown in sales in China and its home market, Japan.</p><p>According to Toyota data released in October, sales in Japan plunged by nearly 17% in the first nine months of the year.</p><p>In China, meanwhile, Toyota is facing fierce competition from local EV giants like BYD<span>. Thanks to their affordable electric vehicle range, BYD has </span><a target="_blank" href="https://www.businessinsider.com/germany-auto-giants-volkswagen-bmw-mercedes-struggle-sales-china-evs-2024-10"><span>rapidly taken market share from foreign firms</span></a>.</p><p>Sales in China were down just over 10% in the first nine months of the year, with Toyota attributing the drop to "severe market conditions" such as "intensifying price competition."</p><p>Luxury European carmaker BMW, meanwhile, has also found itself facing weakness in China and a high-profile recall.</p><p>The German auto group said profit before tax dropped nearly 80% in the third quarter from the previous year as it reported earnings on Wednesday.</p><p>BMW previously cut its financial outlook after recalling more than 1.5 million vehicles due to a braking system issue. The automaker said deliveries fell 30% in China in the third quarter.</p><p>Like its German rivals Mercedes and Audi, BMW has been hit by stuttering demand for luxury vehicles in China — and it is also facing <a target="_blank" class="" href="https://www.businessinsider.com/luxury-european-carmakers-china-sales-competition-electric-vehicles-bmw-mercedes-2024-10">pressure from local rivals</a>.</p><p>BYD and smartphone maker Xiaomi have made efforts to expand into the premium market. BYD launched the $150,000 Yangwang U8 SUV last year, and Xiaomi recently unveiled a <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-xiaomi-su7-driven-by-fords-ceo-faster-model-2024-10">high-performance version of its SU7 luxury sedan</a>.</p><p>Toyota and BMW did not respond to a request for comment, sent outside normal working hours.</p>

Toyota and BMW are the latest casualties in China's evolving EV market 

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Associated Press/Reed Saxon</span></p><p class="caption">An electric bus produced by China's BYD.</p></div><p></p></div></div>A Chinese automaker backed by billionare Warren Buffett is getting ready to ramp up production of its electric buses.</p><p>BYD, which stands for Build Your Dreams, opened its manufacturing facility in 2013 in northern Los Angeles. Since then, the facility has produced the company's battery-powered buses and, more recently, electric trucks.</p><p>On Friday, BYD unveiled the factory's new 450,000 square-foot expansion that will allow the company to build 1,500 electric buses annually. BYD will use the expansion to expand further into its new product lines, like electric forklifts and garbage trucks.</p><p><span>Stella Li, president of BYD, said the expansion will allow BYD to deliver 300 buses by mid-2018. The company has so far delivered more than 130 electric buses to 40 customers in North America, like Denver's Regional <keyword id="34991" type="ORGANIZATION" weightage="60" keywordseo="transportation">Transportation</keyword> District and the Los Angeles Metro.</span></p><p><span>The expansion will also add "hundreds" of jobs to the facility that currently employs 700 people.</span></p><p><span>"We are the player to push the industry to the future of zero-emission public transportation," Li said in an interview.</span></p><p>BYD currently sells 10 different bus models, including a new 60-foot bus with 275 miles of range.</p><p>BYD's products compete most closely with Proterra, a Silicon Valley-based electric bus startup that sells a 40-foot bus with a 375-mile range. <a href="http://www.businessinsider.com/proterra-sets-1000-mile-range-record-2017-9" target="_blank" rel="noopener noreferrer">Proterra recently set a 1,000-mile range record</a> for the Calayst E2 bus.</p><p>The Chinese company could also serve as a threat to <a href="http://markets.businessinsider.com/stock/tsla-quote" target="_blank" rel="noopener noreferrer">Tesla</a>, which will unveil its electric big-rig truck in late October. BYD sold 100,000 electric vehicles in 2016 while Tesla sold 76,000 cars.</p><p>Li said she sees Proterra and Tesla more as partners because they are helping encourage electric vehicle adoption across the US. She also noted that Tesla and BYD compete in very different markets in the US and it remains to be seen whether the company's electric truck can compete with BYD's offerings on price.</p><p>"If you want to make an industry change, only one company cannot do that," she said in an interview. "We need all of the companies."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/tesla-model-3-delivery-elon-musk-electric-car-vehicle-2017-6">Tesla is finally delivering the Model 3 - here's everything you need to know about the car</a></h3>        <div>                    </div>    </div>

A Chinese automaker backed by Warren Buffett is making a big push in the US with electric buses

<ul class="summary-list"><li>Paul Pierce will pay $1.4 million to settle charges that he made misleading statements while promoting crypto. </li><li>The former Boston Celtics star has agreed not to promote crypto assets for three years. </li></ul><p>Former NBA star Paul Pierce will pay $1.4 million in a settlement with the US securities regulator over charges he made misleading statements while promoting EMAX tokens, an amount that's slightly more than Kim Kardashian paid to settle charges related to the same cryptocurrency last year. </p><p><a href="https://www.sec.gov/news/press-release/2023-34" target="_blank" rel="noopener">The Securities and Exchange Commission said Friday</a> that Pierce violated anti-touting and antifraud provisions of securities laws. It found that Pierce didn't disclose that he was paid more than $244,000 worth of EMAX tokens to promote the digital asset on Twitter. The longtime Boston Celtics player also tweeted misleading EMAX statements, the agency said. </p><p>Pierce sent a Twitter message with a screenshot of an account showing large holdings and profits, but he didn't disclose that his personal holdings were "much lower" than those displayed, the SEC said. </p><p>Pierce has agreed not to promote any crypto asset securities for three years as part of the settlement. </p><p>"This case is yet another reminder to celebrities: The law requires you to disclose to the public from whom and how much you are getting paid to promote investment in securities, and you can't lie to investors when you tout a security," SEC Chair Gary Gensler said in a statement. </p><p>EMAX tokens, a crypto asset security sold by EthereumMax, were at the center of the SEC's case against Kim Kardashian last year. The <a href="https://www.insider.com/photos-kim-kardashian-west-career-evolution-2019-2">billionaire reality TV star</a> and business owner in October <a href="https://markets.businessinsider.com/news/currencies/kim-kardashian-sec-instagram-crypto-gary-gensler-emax-securities-law-2022-10">agreed to pay $1.26 million to settle charges</a> stemming from a June 2021 Instagram post about EMAX tokens. </p><p>The SEC said Friday that Pierce, without admitting or denying its findings, will pay a roughly $1.12 million penalty and about $240,000 in disgorgement and prejudgment interest. </p><p>Cryptocurrency investors last year <a href="https://www.businessinsider.com/kim-kardashian-and-floyd-mayweather-sued-by-crypto-investors-2022-1">filed a class-action claim against Pierce,</a> Kim Kardashian, boxing champion Floyd Mayweather and others, alleging they mislead fans into buying EMAX tokens whose value later plunged. The <a href="https://cointelegraph.com/news/class-action-against-kim-k-mayweather-over-emax-dismissed-for-now" target="_blank" rel="noopener">lawsuit was reportedly dismissed</a>, but a California judge left the door open for the plaintiffs to refile.</p>

Ex-NBA star Paul Pierce will pay $1.4 million to settle charges from the SEC that he made misleading statements while promoting crypto

<ul class="summary-list"><li>Chinese EV firms like BYD have been effectively shut out of the US thanks to high tariffs.</li><li>Many of them sell their electric vehicles in Europe, despite the EU introducing its own tariffs.</li></ul><p>US tourists who visited Europe this summer may have spotted some unfamiliar EVs on the road — some of which will have been built in China.</p><p><a target="_blank" class="" href="https://www.businessinsider.com/byd-saic-chinese-ev-makers-plot-world-takeover-2024-6#">China's electric vehicle</a> giants were <a target="_blank" class="" href="https://www.businessinsider.com/china-evs-tariffs-joe-biden-transport-2024-5">effectively shut out of the US in May</a>, when the government imposed crippling tariffs on China-based EV companies amid growing geopolitical tensions.</p><p>The tariffs, designed to prevent the US auto market from being flooded with cheap Chinese EVs, have made it virtually impossible for companies like BYD to export their EVs stateside.</p><p>The European Union set out <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-companies-hit-with-new-tariffs-in-the-eu-2024-6">its own trade restrictions on China's Tesla rivals in June</a> — but unlike in the US, many have a sizable presence in the European market.</p><p>Here are some of the Chinese electric vehicles that European drivers can buy right now but US drivers can't:</p><h2 id="8c27c4d8-53fb-4dcf-a9e7-30de84bd3e37">BYD</h2><div type="image" title="BYD Seal" height="683" width="1024" msid="113258283" hostid="261" sizebytes="34490"></div><p><a target="_blank" class="" href="https://www.businessinsider.com/tesla-rival-byd-chinese-evs-expands-in-europe-new-factory-2024-7">BYD</a><a target="_blank" href="https://www.businessinsider.com/tesla-rival-byd-chinese-evs-expands-in-europe-new-factory-2024-7"> is expanding rapidly in Europe</a>, and plans are underway to build two factories in Hungary and Turkey in the coming years.</p><p>The Warren Buffett-backed automaker sells <a target="_blank" class="" href="https://www.byd.com/eu">six EV models in Europe </a>— from the Dolphin Hatchback, which <a target="_blank" class="" href="https://www.byd-cars.de/marken/byd/dolphin#8dfa9335-fae6-48ae-ade9-929a8d4761ba">costs from €32,990</a> ($36,400), to the Han sedan, which <a target="_blank" class="" href="https://www.byd-cars.de/marken/byd/han#a658351d-cfa0-49fd-b324-ff9e61445dd1">starts at €69,000</a> ($76,100) in Germany.</p><p>Despite the EU imposing <a target="_blank" href="https://ec.europa.eu/commission/presscorner/detail/en/ip_24_4301">a 17% import tariff on BYD in August</a>, the company isn't slowing down. As it competes with Tesla worldwide, it plans to <a target="_blank" href="https://www.businessinsider.com/byd-cheap-ev-seagull-coming-to-europe-china-us-tariffs-2024-5">bring its $10,000 Seagull EV to Europe in 2025</a>.</p><h2 id="28cbf932-e633-467a-ba74-145fd9eebf92">Nio</h2><div type="image" title="Nio ET7" height="742" width="1024" msid="113258297" hostid="261" sizebytes="65766"></div><p>Chinese EV brand Nio is known in its home country <a target="_blank" class="" href="https://www.businessinsider.com/ev-battery-swapping-china-rescue-us-revolution-2024-2">for its battery swapping stations</a>, designed to prevent long charging times by removing flat batteries and replacing them with fully charged ones.</p><p>Like BYD, Nio has been expanding in Europe, establishing battery swap stations across the continent and <a target="_blank" class="" href="https://www.nio.com/news/nio-house-amsterdam?&amp;noredirect=">selling six models as of May 2024</a>.</p><p>That includes the stylish ET7, which Nio says comes with an <a target="_blank" class="" href="https://www.nio.com/et7?&amp;noredirect=">AI-powered suspension and an estimated 1,000km (620 mile)<strong> </strong>range</a>.</p><h2 id="93224fa1-31bc-45f4-8dc3-cadaccde6d4f">Xpeng</h2><div type="image" title="Xpeng G6" height="684" width="1024" msid="113258292" hostid="261" sizebytes="71784"></div><p>Xpeng is known for its quirky EV models, including a <a target="_blank" class="" href="https://www.businessinsider.com/xpeng-tesla-rival-flying-car-prototype-drone-evtol-2022-11">flying car</a>.</p><p>In Europe, the automaker sells its G9, G6, and P7 models in various markets, including Denmark, Sweden, and Norway.</p><h2 id="985d743a-d9a6-45bc-82ed-a4c4ae7f187f">Zeekr</h2><div type="image" title="Zeekr 001" height="683" width="1024" msid="113258285" hostid="261" sizebytes="39634"></div><p>Chinese manufacturer Zeekr is one of many companies <a target="_blank" class="" href="https://www.businessinsider.com/chinese-electric-vehicles-byd-selling-record-cars-tesla-competition-deliveries-2024-7">vying to take on Tesla in China.</a> It has two models available in parts of Europe.</p><p>Both the Zeekr X and the Zeekr 001 are luxury EVs priced between <a target="_blank" class="" href="https://shop.zeekr.eu/en-nl/configuration/?linkCode=1">42,490 euros and 59,490 euros ($46,800 to $65,600)</a> in the Netherlands. The Zeekr 001 boasts an estimated <a target="_blank" class="" href="https://www.zeekr.eu/models/001">620km (385 miles) of range and 0 to 60 mile acceleration in 3.8 seconds</a>.</p><p>Like many other Chinese automakers, Zeekr faces EU's tariffs. CEO Andy An <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-19/geely-s-zeekr-considers-building-evs-in-europe-to-avoid-tariffs">told Bloomberg that</a> the company may move production to Europe in the coming years as a result.</p><h2 id="3d2d47ce-d5f2-48a3-b76e-1431dec40a8b">MG</h2><div type="image" title="The MG Cyberster" height="681" width="1024" msid="113258295" hostid="261" sizebytes="64984"></div><p>Historic British car brand MG is owned <a target="_blank" class="" href="https://www.reuters.com/article/business/saic-to-sell-mg-cars-in-eu-by-year-end-idUSTRE60O088/">by one of China's largest automakers, SAIC Motor</a>.</p><p>Since it came under SAIC Motor's control, MG has <a target="_blank" class="" href="https://www.bbc.co.uk/news/uk-england-birmingham-37449289">moved some of its vehicle production to China</a> and produced a series of electric models, including the MG4.</p><p>This electric hatchback starts at <a target="_blank" class="" href="https://www.mg.co.uk/new-cars/mg4-ev">£26,995 ($35,300)</a> in the UK, making it <a target="_blank" class="" href="https://www.tesla.com/en_gb/model3/design#overview">£12,995 ($17,000) cheaper</a> than Tesla's least expensive offering in the country.</p><p>MG also recently launched the Cyberster, a stylish electric roadster that is available <a target="_blank" class="" href="https://www.mgcyberster.co.uk/configurator">for preorder in the UK for £54,995 ($72,000)</a>.</p><p>As of yet, there's no sign of the MG4 or the Cyberster coming to the US — although MG is planning to <a target="_blank" class="" href="https://www.reuters.com/business/autos-transportation/mg-motor-build-manufacturing-plant-rd-center-mexico-2024-08-08/">build a manufacturing plant in Mexico</a>, a move some US lawmakers have warned could provide Chinese manufacturers <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-companies-byd-mg-plan-factories-mexico-washington-concern-2023-12">with a "backdoor" to the US market</a>.</p>

Chinese EVs you can buy in Europe — but not in the US

Chinese electric carmaker <keyword id="6482256" type="General" weightage="50" keywordseo="byd-india" source="Orion">BYD India</keyword> on Wednesday unveiled its new luxury sedan <keyword id="15977324" type="General" weightage="50" keywordseo="byd-seal" source="Orion">BYD Seal</keyword> which, it said, will be launched in the country during the last quarter of 2023.<br /><br />The Chinese electric car maker also claimed that <keyword id="67247" type="General" weightage="100" keywordseo="byd" source="Orion">BYD</keyword> Seal has a range of up to 700 km on a single charge.<br /><br />"With the unveiling of the electric luxury sedan BYD Seal, and the launch of the limited edition of BYD ATTO 3, Blade Battery, and the e-Platform 3.0, we resonate our commitment to contribute to the growth of the Indian electric vehicle segment with future EV technologies," <keyword id="13023382" type="General" weightage="50" keywordseo="sanjay-gopalakrishnan" source="Orion">Sanjay Gopalakrishnan</keyword>, Senior Vice President of Electric Passenger Vehicles of BYD <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, said.<br /><br />Only 1,200 units of this limited edition of BYD ATTO 3 will be available in India at Rs 34.49 lakh (ex-showroom).<br /><br />"Today, we are also very honored to announce that the first batch of BYD ATTO 3 delivery starts. This calendar year, we plan to sell 15,000 units of BYD ATTO 3 &amp; All-New e6. The bookings of BYD ATTO 3 have been very encouraging, and we are all set to start the first deliveries from January 2023," said Gopalakrishnan.<br /><br />BYD Seal is BYD India's third model for the passenger EV segment in India after All New e-6 electric MPV and BYD ATTO 3 e-SUV, both of which are already on sale.<br /><br />BYD India expanded its network to 24 showrooms across 21 cities in just one year and plans to double the presence to 53 showrooms within 2023.<br /><br /><b>SEE ALSO:<br /></b><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/kia-showcases-concept-ev9-electric-car-with-solar-panels-carnival-ka4-mpv/slidelist/96908322.cms"><strong>Kia showcases Concept EV9 electric car with solar panels, Carnival KA4 MPV</strong></a><b><u><strong><br /></strong></u></b><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/auto-expo-2023-hyundai-launches-ev-ioniq-5-that-can-run-631-kms-on-a-single-charge/articleshow/96908838.cms"><strong>Auto Expo 2023: Hyundai launches EV Ioniq 5 that can run 631 kms on a single charge</strong></a>

Auto Expo 2023: Chinese electric carmaker BYD India to launch luxury sedan in 2023's last quarter

Team India will look to seal the series as they lock horns with Bangladesh in the second T20I of the three-match series at the Arun Jaitley Stadium on Wednesday. <br /><br />Suryakumar's side has already taken a 1-0 lead in the series after clinching a seven-wicket victory over Bangladesh in the first T20I match in Gwalior.<br /><br />India and Bangladesh have faced each other on 15 occasions in the shortest format of the game so far. The Men in Blue have dominated the visitors as they have managed to emerge victorious 14 times. <br /><br />Speaking of the team's form in this format in recent times, the hosts have won all their last five encounters. On the other hand, the Najmul Hossain Shanto-led side have won only one game out of their last five.<br /><br />In the 17th edition of the Indian Premier League this year only five matches took place at the Arun Jaitley Stadium. In these five matches, the teams were able to cross the 200-run mark in eight innings out of ten. So, the match is expected to be a high-scoring clash. The weather at the venue is believed to be clear, with a little bit of dew later in the match, according to ESPNcricinfo. <br /><br />India's left-arm speedster <keyword id="19914486" type="General" weightage="20" keywordseo="Arshdeep-Singh" source="keywords">Arshdeep Singh</keyword> asserted that skipper <keyword id="19908088" type="General" weightage="100" keywordseo="Suryakumar-Yadav" source="keywords">Suryakumar Yadav</keyword> and head coach Gautam Gambhir will check the wicket and share the plan for the game.<br /><br />"We [Punjab Kings] did not play here this IPL, but after seeing the scores, I did not feel like checking the wicket. But yeah, we will come tomorrow and see what could be a good plan here. And of course, the captain and the coach will check the wicket and share their plan," Arshdeep Singh said in the pre-match press conference as quoted by ESPNcricinfo. <br /><br />Further the Bangladesh all-rounder Mahmudullah heaped praise on the team's bowlers saying that they have been doing a wonderful job in the last few years. <br /><br />"Our bowlers are doing a wonderful job for the last few years. I don't think we played that badly in the first game. We shouldn't doubt ourselves based on one game. That'd be unfair. We have to come out of that zone and try to win the game. We tried to play aggressively with the bat. We have to be more organised, which will serve us better," Mahmudullah said. <br /><br />Mahmudullah announced his decision to retire from T20I cricket on Saturday to shift his focus to the ODI format. The final T20I between India and Bangladesh at Rajiv Gandhi International Stadium, Hyderabad, will mark Mahmudullah's final appearance in Bangladesh colours in the T20I format.<br /><br /><strong>Squads:</strong> <br /><br />India: Sanju Samson (wk), Abhishek Sharma, Suryakumar Yadav (c), Nitish Reddy, Hardik Pandya, Riyan Parag, Rinku Singh, Washington Sundar, Varun Chakaravarthy, Arshdeep Singh, Mayank Yadav, Jitesh Sharma, Tilak Varma, Ravi Bishnoi, Harshit Rana.<br /><br />Bangladesh: Parvez Hossain Emon, Litton Das (wk), Najmul Hossain Shanto (c), Towhid Hridoy, Mahmudullah, Jaker Ali, Mehidy Hasan Miraz, Rishad Hossain, Taskin Ahmed, Shoriful Islam, Mustafizur Rahman, Mahedi Hasan, Tanzid Hasan, Rakibul Hasan, Tanzim Hasan Sakib.<br /><br /><b>SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/byd-emax-7-electric-mpv-launched-in-india-starting-at-26-9-lakh/slidelist/114046121.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/business/auto/news/byd-emax-7-electric-mpv-launched-in-india-starting-at-26-9-lakh/slidelist/114046121.cms" target="_blank">BYD eMax 7 electric MPV launched in India starting at ₹26.9 lakh</a><a href="https://www.businessinsider.in/personal-finance/news/heres-how-a-reddit-user-was-able-to-get-an-iphone-16-at-under-27000/articleshow/114035179.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/personal-finance/news/heres-how-a-reddit-user-was-able-to-get-an-iphone-16-at-under-27000/articleshow/114035179.cms" target="_blank">Here’s how a Reddit user was able to get an iPhone 16 at under ₹27,000</a><a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms" target="_blank">Hyundai To Swiggy: Everyone wants to cash in on the IPO bonanza</a></b><br />

You Searched For "BYD eMax 7 range" and got 11 results

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