Hyundai Accelerated Its Electric Vehicle Expansion in China Under U.S. Tariff Pressure

Toyota Motor Corporation has decided to halt the development of its next-generation battery electric vehicles, specifically targeting a sedan model for its luxury brand Lexus that was originally planned to commence production in mid-2027. This vehicle, featuring fast-charging capabilities and longer cruising range, was showcased at the Japan Mobility Show in October 2023. Initially planned for market launch in 2026, its production start was later postponed to 2027. Over the past year, Toyota's global electric vehicle sales exceeded 190,000 units, a year-on-year increase of 42.4%. However, the decision by the Trump administration in the US to eliminate tax incentives for electric vehicle purchases has created adverse market conditions.

On May 28, XPeng Group released its first quarter financial report for 2026. In the first quarter of 2026, XPeng Group's total quarterly revenue was 13.03 billion yuan, with a quarterly gross margin of 20.6%, an increase of 5.0 percentage points compared to the same period in 2025. Quarterly deliveries reached 62,682 vehicles. Service and other income amounted to 2.03 billion yuan, a year-on-year increase of 41.2%. Quarterly research and development investment was 2.91 billion yuan, a year-on-year increase of 46.8%. As of March 31, 2026, cash on hand was 42.09 billion yuan.

Mankun Technology stated on an interactive platform that the company's intelligent driving PCB products currently have relatively sufficient orders. The company's intelligent driving PCB products currently possess the technical capability to support L3-level autonomous driving, while higher-level autonomous driving applications are still in the R&D and reserve stage. As of now, the company has not yet supplied Tesla with L3-level autonomous driving-related PCB products. The company will closely monitor industry technological developments and actively explore market opportunities.