Episode #241 - Honda’s $15B EV Collapse, Porsche Profits Crash, and China EVs Surge

Mar 16, 2026

A turbulent week in the auto world with a major legacy maker taking a huge EV write-down and luxury profits plunging. Rapid-fire Chinese EV innovation and new large luxury SUVs are shaking up global competition. Tensions rise as refreshed rivals threaten established models and cross-border deals, policy shifts, and charging tech accelerate market realignment.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

ANECDOTE

Lei Xing Waiting For Model Y Delivery

Lei Xing mentions he's two weeks away from receiving a Tesla Model Y as a personal aside.
This personal timeline recurs later as an on-air check-in about his upcoming delivery and charger setup.

INSIGHT

Tesla Likely To Rely On Pricing Not Product Refreshes

Tesla may not significantly refresh the 3/Y in 2026, leaving features static versus fast-moving Chinese rivals.
Lei Xing expects Tesla to rely on pricing/financing tweaks rather than major product updates this year.

INSIGHT

Lucid And Rivian Signal Rising US EV Competition

Lucid and Rivian announcing new product roadmaps signals growing non-Tesla US EV competition.
Lei Xing highlights Lucid's R2 and options pricing changes, and Tu Le notes U.S. consumers lack affordable, tech-forward EV choices.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

This week on China EVs & More, Tu and Lei break down one of the most turbulent weeks yet for the global auto industry.

Honda stunned the industry by announcing $15.7 billion in EV write-downs and abandoning its “Zero” EV program, marking the company’s first loss in its 70-year history. Porsche and Volkswagen Group also revealed dramatic profit declines as EV investments, tariffs, and China market pressures weigh heavily on legacy automakers.

Meanwhile, China’s EV sector continues to move at breakneck speed. NIO and Li Auto both reported earnings and ambitious 2026 growth targets, while a new wave of large luxury SUVs — from AITO, BYD, Xpeng, and others — intensifies competition in China’s most profitable segments.

The hosts analyze how China’s relentless product cycles and rapid innovation are redefining the global automotive landscape, leaving Western automakers scrambling to catch up.

🔑 SEO Keywords (for description & podcast discovery)

China EVs & More, Tu Le, Lei Xing, Honda EV write-down, Porsche profits decline China, Volkswagen Group earnings EV losses, China EV market competition, Xiaomi SU7 refresh, Tesla Model 3 China competition, large electric SUV market China, NIO earnings 2026, Li Auto earnings results, BYD SUV lineup, Chinese automakers global expansion, EV industry transformation, Beijing Auto Show EV news

______

⏱️ YouTube Chapter Timestamps

00:00 Intro and episode overview

01:10 Honda’s $15.7B EV write-down explained

03:30 Porsche profit collapse and China sales decline

05:40 Volkswagen Group earnings and EV investment impact

08:20 NIO earnings and growth targets for 2026

12:00 Li Auto earnings and strategy reset

15:00 Explosion of large electric SUVs in China

18:30 Why Xiaomi’s SU7 refresh could challenge Tesla Model 3

22:00 Tesla’s product strategy and lack of refreshes

25:30 The coming SUV battle in China’s EV market

29:00 Canada opening the door to Chinese EV imports

33:00 Partnerships between Chinese and Western automakers

36:30 Future of global EV competition

38:30 Wrap-up and final thoughts