https://www.scmp.com/rss/325330/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Matthew Marsh Matthew Marsh “The first night session couldn’t have been more stressful if there were snakes in the car and meteorites falling from the sky.” Antares Au isn’t new to 24-hour racing – he’s won his class at Belgium’s Spa and Germany’s Nürburgring – but nothing, he says, quite prepares you for the 24 Hours of Le Mans. Last month marked his debut at France’s legendary endurance race, alongside fellow Hongkonger Jonathan Hui Kin-tak. They were two drivers on the 62 teams competing at this year’s race, and for a... https://www.scmp.com/postmag/passions/article/3317839/meet-one-track-minds-behind-le-mans-24-hour-race?utm_source=rss_feed https://www.scmp.com/postmag/passions/article/3317839/meet-one-track-minds-behind-le-mans-24-hour-race?utm_source=rss_feed Sat, 12 Jul 2025 22:15:07 +0000 China’s government will earmark a major portion of its Covid-19 economic stimulus plan towards spurring demand in the world’s largest vehicle market, extending a helping hand to an industry that accounted for one in six urban jobs. The government will slash a car purchase tax to the tune of 60 billion yuan, about 42 per cent of the 140 billion yuan (US$21 billion) of tax rebates, loans, and deferred payments outlined by the State Council after its Monday meeting. The cut, likely to halve the... https://www.scmp.com/business/china-business/article/3178986/coronavirus-beijing-cuts-tax-60-billion-yuan-spur-vehicle?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3178986/coronavirus-beijing-cuts-tax-60-billion-yuan-spur-vehicle?utm_source=rss_feed Tue, 24 May 2022 11:30:25 +0000 Decades of globalisation have brought more affordable products to Western consumers, while leading to rapid earnings growth for multinational companies. Globalisation has also helped lift hundreds of millions of people in developing economies out of poverty, and narrowed the income gap between developed and emerging markets. However, there is growing concern that this trend will come to an end soon, or even reverse. Perhaps, expecting the world to “deglobalise” is too simplistic; instead,... https://www.scmp.com/comment/opinion/article/3177464/globalisation-enters-new-phase-companies-and-consumers-will-pay?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3177464/globalisation-enters-new-phase-companies-and-consumers-will-pay?utm_source=rss_feed Fri, 13 May 2022 17:30:23 +0000 China’s automobiles industry lost 1 million vehicles in production last month amid severe lockdown measures introduced to contain outbreaks of the highly transmissible Omicron variant of Covid-19. Total output by all carmakers across the country plunged by 46.2 per cent to 1.2 million units, as major companies, ranging from Tesla, General Motors and SAIC Motor in Shanghai to FAW Group and its joint ventures with the likes of Volkswagen (VW) in the northeastern Jilin province, idled assemblies... https://www.scmp.com/business/china-business/article/3177529/shanghai-and-jilin-lockdowns-chinas-carmakers-lost-1?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3177529/shanghai-and-jilin-lockdowns-chinas-carmakers-lost-1?utm_source=rss_feed Fri, 13 May 2022 00:30:11 +0000 China’s Geely Automobile will buy just over a third of Renault’s Korea unit for roughly US$200 million, potentially helping it boost US exports, and freeing up funds for the French carmaker to invest in its electric business. Renault, which can assemble 300,000 vehicles a year in its factory in Busan, South Korea, is in the middle of a turnaround aimed at increasing margins and separating its electric vehicle (EV) business to catch up with rivals such as Tesla. The French firm’s move to sell the... https://www.scmp.com/business/companies/article/3177182/geely-pay-us200-million-third-renault-korea-chinas-largest?utm_source=rss_feed https://www.scmp.com/business/companies/article/3177182/geely-pay-us200-million-third-renault-korea-chinas-largest?utm_source=rss_feed Tue, 10 May 2022 08:32:28 +0000 Deliveries of smart electric cars (EVs) halved in April among China’s three biggest Tesla challengers, as the month-long lockdown in Shanghai and nearby cities in the Yangtze River Delta disrupted supply chains and stopped production. Nio’s April deliveries declined by 49.2 per cent to a six-month low of 5,074 vehicles, after it halted its assembly in the Anhui provincial capital of Hefei for five days, as Covid-19 quarantines in Shanghai, Jiangsu and Jilin disrupted its supply chain. Li Auto in... https://www.scmp.com/business/china-business/article/3176190/coronavirus-april-deliveries-smart-evs-plunge-nio-li-auto?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3176190/coronavirus-april-deliveries-smart-evs-plunge-nio-li-auto?utm_source=rss_feed Mon, 02 May 2022 01:00:20 +0000 Chinese car stocks may have captured investors’ hearts in 2021, but they have only inflicted pain – to the tune of almost US$400 billion in losses – this year, as extended lockdowns damage supply chains and imperil the demand outlook. Shares of the three leading Chinese electric vehicle (EV) start-ups, Nio, Xpeng and Li Auto, have suffered steep losses ranging from 17 to 50 per cent in Hong Kong this year. Across the car industry, related stocks mirrored the slump. An MSCI index tracking Chinese... https://www.scmp.com/business/markets/article/3175550/chinese-ev-darlings-nio-xpeng-and-li-auto-see-their-stocks-suffer?utm_source=rss_feed https://www.scmp.com/business/markets/article/3175550/chinese-ev-darlings-nio-xpeng-and-li-auto-see-their-stocks-suffer?utm_source=rss_feed Tue, 26 Apr 2022 11:15:14 +0000 US electric vehicle (EV) maker Tesla’s Shanghai factory is assembling 1,000 vehicles a day – just half of its output before the city’s latest Covid-19 outbreak – after resuming work this week. Production at the facility was suspended for 22 days because of a citywide lockdown. At its Gigafactory 3 in the Lingang free-trade zone, 8,000 workers have been convened to build its bestselling Model 3 and Model Y EVs, but only half of the workforce can be fully utilised in a single shift, because Tesla... https://www.scmp.com/business/china-business/article/3175064/teslas-half-idle-shanghai-factory-exposes-strain-chinas?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3175064/teslas-half-idle-shanghai-factory-exposes-strain-chinas?utm_source=rss_feed Thu, 21 Apr 2022 11:00:54 +0000 Chinese authorities are taking steps to shore up supply chains that have been battered by strict lockdown measures, including drawing up “white lists” of companies that can resume production and operations. Under this system, the government will hand-pick businesses from different sectors deemed as strategically important for the economy and society and exempt them from certain lockdown restrictions. The Shanghai Commission of Economy and Information Technology, the city’s industrial development... https://www.scmp.com/tech/policy/article/3174691/shanghai-lockdown-china-takes-steps-shore-supply-chains-putting-tesla?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3174691/shanghai-lockdown-china-takes-steps-shore-supply-chains-putting-tesla?utm_source=rss_feed Tue, 19 Apr 2022 03:00:26 +0000 Shanghai is on track to resume production at key manufacturing sites after a 16-day citywide lockdown, succumbing to pressure from foreign diplomats, business groups and multinational firms calling for an easing of anti-coronavirus control measures. Major companies in the fields of automobiles, semiconductors and biomedicines are to submit detailed plans about guarding against the spread of Covid-19 for the local health authorities to review before they are given the go-ahead to resume... https://www.scmp.com/business/china-business/article/3174564/shanghai-resume-some-production-after-16-day-lockdown-even?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3174564/shanghai-resume-some-production-after-16-day-lockdown-even?utm_source=rss_feed Sun, 17 Apr 2022 07:50:12 +0000 Shanghai’s automotive industry is teetering on the edge of a precipice, as a citywide lockdown amid a Covid-19 outbreak idled assemblies and component makers that together produced one in every nine of the automobiles produced in China last year. Automakers may have to stop all production by May if the supply chain disruptions caused by Shanghai’s lockdowns are not resolved soon, according to a blog post by Xpeng’s co-founder and chief executive He Xiaopeng, whose company assembles smart... https://www.scmp.com/business/china-business/article/3174435/coronavirus-shanghais-vehicle-assemblies-sit-idle-chinas?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3174435/coronavirus-shanghais-vehicle-assemblies-sit-idle-chinas?utm_source=rss_feed Fri, 15 Apr 2022 11:26:05 +0000 China’s booming new-energy vehicle (NEV) segment hit a blip for a second consecutive month in February, as sales were affected by the Lunar New Year holiday and a cut in subsidies. Sales of NEVs – pure electric, plug-in hybrids and fuel-cell vehicles – reached 334,000 last month, down 22.6 per cent from January, according to the China Association of Automobile Manufacturers (CAAM). In January, sales fell 18.6 per cent from December, when it surged ahead of the 30 per cent subsidy cuts on NEV... https://www.scmp.com/business/china-business/article/3170190/chinas-new-energy-vehicle-sales-drop-february-second-month?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3170190/chinas-new-energy-vehicle-sales-drop-february-second-month?utm_source=rss_feed Fri, 11 Mar 2022 12:57:00 +0000 Sitting around a Sunday afternoon lunch table with a few cans of beer under the belt is a natural forum for entrepreneurs to air ideas of what we are likely to do next. Such was the case about a year ago when I sat with two new friends who hail from Switzerland and found themselves in South Lantau: Töni Sigg and Urs Stemmler. One thing we have in common, like many guys of our age, is a love of fancy cars – Ferrari, Maserati, Aston Martin, etc – and Urs has even taken the plunge with a 1980s’ era... https://www.scmp.com/week-asia/opinion/article/3168947/classic-cars-hong-kong-could-be-untapped-treasure-trove-investors?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3168947/classic-cars-hong-kong-could-be-untapped-treasure-trove-investors?utm_source=rss_feed Wed, 02 Mar 2022 23:00:36 +0000 China’s three biggest makers of smart electric vehicles (EVs) reported lacklustre deliveries for February as the Lunar New Year holiday disrupted sales and production. Analysts predict sales will rebound sharply in March when the carmakers’ operations and consumer sentiment return to normal. Guangzhou-based Xpeng Motors delivered 6,225 smart EVs last month, the first time it has failed to surpass the 10,000-mark since September. That represented just 39 per cent of the record 16,000 units it... https://www.scmp.com/business/china-business/article/3168856/xpeng-nio-li-auto-post-lacklustre-ev-deliveries-february?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3168856/xpeng-nio-li-auto-post-lacklustre-ev-deliveries-february?utm_source=rss_feed Tue, 01 Mar 2022 16:30:19 +0000 Toyota Motor Corp said it will suspend domestic factory operations on Tuesday, losing around 13,000 cars of output, after a supplier of plastic parts and electronic components was hit by a suspected cyberattack. No information was immediately available about who was behind the possible attack or the motive. The attack comes just after Japan joined Western allies in clamping down on Russia after it invaded Ukraine, although it was not clear if the attack was at all related. Japanese Prime... https://www.scmp.com/news/asia/east-asia/article/3168727/toyota-suspends-japan-factory-operations-after-suspected?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3168727/toyota-suspends-japan-factory-operations-after-suspected?utm_source=rss_feed Mon, 28 Feb 2022 13:54:19 +0000 Lotus, the British sports car brand majority owned by China’s Zhejiang Geely Holding Group, is in early discussions about a stock market listing with the idea of raising fresh capital for global expansion and electric vehicle (EV) development. The carmaker hopes to float initial public offering (IPO) shares in two years. It has ambitions of selling 100,000 vehicles globally in 2028, which would represent an about 60-fold increase over last year, when it delivered 1,710 cars, the Financial Times... https://www.scmp.com/business/banking-finance/article/3167859/british-sports-car-marque-lotus-eyes-ipo-it-seeks-extend?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3167859/british-sports-car-marque-lotus-eyes-ipo-it-seeks-extend?utm_source=rss_feed Mon, 21 Feb 2022 12:16:35 +0000 Tesla will use its over-the-air (OTA) patch to update the software on more than 26,000 Shanghai-made electric vehicles to repair a glitch that could cause heat pump compressors to stop working. The carmaker will deliver a software patch to fix 12,003 Model 3 electric sedans and 14,044 Model Y sports-utility vehicles (SUVs), in a virtual recall of vehicles that rolled off its Gigafactory in Shanghai between December 28, 2020 and January 15, 2022, according to a statement by the State... https://www.scmp.com/business/china-business/article/3167610/tesla-delivers-over-air-software-patches-fix-26047-shanghai?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3167610/tesla-delivers-over-air-software-patches-fix-26047-shanghai?utm_source=rss_feed Fri, 18 Feb 2022 12:26:46 +0000 Tesla’s dominance in the world’s largest electric car market may come increasingly under pressure in the Year of the Tiger, as China’s home-grown brands develop new models to pick up the slack left by Elon Musk’s company. To get there, NIO, Xpeng Motors and Li Auto – the three most aggressive local EV start-ups – will have to spend heavily to assemble and launch smart, all-electric vehicles amid the lingering shortage of semiconductor chips that may leave a 20 per cent shortfall in this year’s... https://www.scmp.com/business/china-business/article/3165963/year-tiger-teslas-lead-chinas-ev-market-whittled-away-nio?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3165963/year-tiger-teslas-lead-chinas-ev-market-whittled-away-nio?utm_source=rss_feed Sun, 06 Feb 2022 06:05:06 +0000 It was almost six years ago that I harrumphed against the exuberant predictions about the imminent autonomous vehicle takeover of our roads. Today, quietly and without hubris, I can sneak a smile and say I told you so. A phalanx of tech visionaries have hailed the arrival of “robotaxi” services in the United States and China in the past few months. Even so, I will repeat: fully automated vehicles capable of driving on our open roads will not be here in most of our lifetimes, and certainly not in... https://www.scmp.com/comment/opinion/article/3165747/why-era-self-driving-cars-still-far-despite-elon-musks-big-talk?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3165747/why-era-self-driving-cars-still-far-despite-elon-musks-big-talk?utm_source=rss_feed Fri, 04 Feb 2022 08:30:18 +0000 President Joe Biden calls himself a union guy and a car guy, and he is embraced electric vehicles as vital to his economic and climate ambitions. But there’s one US car company he won’t talk about: Tesla, the world’s most valuable carmaker and the global brand most clearly associated with EVs. “I meant it when I said the future was going to be made right here in America,” Biden said in a tweeted video with General Motors chair and Chief Executive Officer Mary Barra on Thursday. “Companies like... https://www.scmp.com/business/companies/article/3165649/tesla-gets-us-presidential-snub-biden-lauds-inroads-gm-and-ford?utm_source=rss_feed https://www.scmp.com/business/companies/article/3165649/tesla-gets-us-presidential-snub-biden-lauds-inroads-gm-and-ford?utm_source=rss_feed Thu, 03 Feb 2022 03:36:01 +0000 Tesla shares wiped out about US$109 billion off its valuation during a single day after the electric vehicle maker’s fourth-quarter earnings and outlook failed to impress investors. Shares of the Austin, Texas-based electric vehicle maker plunged nearly 12 per cent on Thursday after an earnings call the previous day that was long on a humanoid robot called Optimus and short on new vehicles. The stock closed at US$829 in New York, the lowest since October 14. The decline was the second biggest on... https://www.scmp.com/business/companies/article/3165032/wild-ride-over-tesla-loses-us100-billion-value-day-after-12-cent?utm_source=rss_feed https://www.scmp.com/business/companies/article/3165032/wild-ride-over-tesla-loses-us100-billion-value-day-after-12-cent?utm_source=rss_feed Fri, 28 Jan 2022 01:11:21 +0000 Supermarket shelves are bare and restaurants can’t serve meals, but Sri Lanka’s economic crisis is a bonanza for used car dealers, with vehicle shortages pushing prices higher than a house in a nice area. The island nation of 22 million is on the brink of bankruptcy, inflation is red hot and the government has barred a range of “non-essential” imports to save dollars needed to buy food, medicine and fuel. In the car market, this two-year ban has kept factory-fresh automobiles off local roads,... https://www.scmp.com/news/asia/south-asia/article/3164761/used-cars-cost-more-luxury-flat-sri-lanka-amid-economic?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3164761/used-cars-cost-more-luxury-flat-sri-lanka-amid-economic?utm_source=rss_feed Wed, 26 Jan 2022 05:18:38 +0000 Manufacturers and policymakers in China must work together to put even more zero-emission vehicles on the roads of the world’s largest vehicle market to meet the nation’s carbon neutrality target by 2060, Greenpeace said. Zero-emission vehicles (ZEVs) will have to make up 63 per cent of total automobile sales by 2030, rising up to 87 per cent by 2035, for China to get on the path for meeting the 20 per cent emissions-cut target in 2035, according to research published by the environmental... https://www.scmp.com/business/article/3163782/china-must-put-even-more-electric-cars-roads-faster-rate-meet-nations-2060?utm_source=rss_feed https://www.scmp.com/business/article/3163782/china-must-put-even-more-electric-cars-roads-faster-rate-meet-nations-2060?utm_source=rss_feed Tue, 18 Jan 2022 06:00:15 +0000 With a filmography that’s already bursting at the seams, Sydney Sweeney was named one of Associated Press’ Breakthrough Entertainers for 2021, thanks to her appearances in popular shows and films like Everything Sucks, Sharp Objects, The Handmaid’s Tale, Once Upon a Time … In Hollywood and Big Time Adolescence (with the man of the hour Pete Davison), to name a few. The 24-year-old American actress is currently in the spotlight for HBO’s Euphoria, in which she is coming back for a second season.... https://www.scmp.com/magazines/style/celebrity/article/3163389/meet-sydney-sweeney-star-hbo-hit-euphoria-named-one-2021s?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3163389/meet-sydney-sweeney-star-hbo-hit-euphoria-named-one-2021s?utm_source=rss_feed Sat, 15 Jan 2022 21:00:21 +0000 China Evergrande Group’s first electric vehicle rolled off the assembly line on Wednesday, an important step for the world’s most indebted property developer as it doubled down on its biggest cash-burning bet to transform itself. The Hengchi 5 all-electric compact sports-utility vehicle (SUV), with a driving range of about 700 kilometres (435 miles) on a single charge, is ready for delivery after coming off the assembly in Tianjin, Evergrande New Energy Vehicle said. The model, priced at less... https://www.scmp.com/business/china-business/article/3163250/evergrandes-hengchi-5-electric-suv-rolls-tianjin-plant?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3163250/evergrandes-hengchi-5-electric-suv-rolls-tianjin-plant?utm_source=rss_feed Thu, 13 Jan 2022 11:30:15 +0000 This article is part of STYLE’s Inside Luxury column Every time I write articles about electric cars in the luxury industry, it triggers a huge controversy. Aficionados of petrol engines tell me that electric cars have no soul, that there is no sound, and that they will never be truly luxurious. I once got a death threat from a petrol enthusiast who told me I should be punished for being supportive of the electric car future. As someone who is extremely passionate about cars and owns both luxury... https://www.scmp.com/magazines/style/luxury/article/3162510/why-mercedes-benz-eqxx-could-be-brands-most-important-car?utm_source=rss_feed https://www.scmp.com/magazines/style/luxury/article/3162510/why-mercedes-benz-eqxx-could-be-brands-most-important-car?utm_source=rss_feed Fri, 07 Jan 2022 07:00:21 +0000 Baidu is looking to race ahead of its rivals in autonomous driving, announcing that its first production model, powered by Nvidia chips, will have a high level of automation and deliveries will start next year. The Chinese search engine and artificial intelligence firm said on Thursday that the electric vehicle (EV) being developed by its carmaking arm, Jidu Automotive, will have level 4 (L4) autonomous driving capability, which means these cars do not require human interaction in most... https://www.scmp.com/business/china-business/article/3162412/chinese-ai-giant-baidu-ups-ante-autonomous-driving-plans?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3162412/chinese-ai-giant-baidu-ups-ante-autonomous-driving-plans?utm_source=rss_feed Thu, 06 Jan 2022 12:10:57 +0000 Toyota Motor grabbed the US sales crown from General Motors, swiping an honor that the Detroit automaker has held since Herbert Hoover was president. If GM’s explanation is to be believed -- that its 43 per cent fourth-quarter sales decline and 13 per cent tumble for the year stemmed from a semiconductor shortage -- then last year’s sales race was really a supply-chain pageant. Whoever could best cajole stretched chip producers for more product came out a winner. Navigating the squeeze has been... https://www.scmp.com/business/companies/article/3162195/toyota-outsells-gm-us-ending-90-years-dominance-detroits-largest?utm_source=rss_feed https://www.scmp.com/business/companies/article/3162195/toyota-outsells-gm-us-ending-90-years-dominance-detroits-largest?utm_source=rss_feed Wed, 05 Jan 2022 05:30:06 +0000 BYD is enjoying the success of its latest electric vehicle (EV) model in China, as the Warren Buffett-backed company hit the 10,000 delivery milestone for the first time last month. The Shenzhen-based company, in which Buffett’s Berkshire Hathaway owns a 7.9 per cent stake, sold 10,016 Dolphin cars in December, within five months of its launch in August, according to a statement filed to the Hong Kong stock exchange on Tuesday. Monthly delivery of 10,000 vehicles is seen as a major threshold for... https://www.scmp.com/business/china-business/article/3162109/warren-buffett-backed-byd-relishes-success-newly-launched?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3162109/warren-buffett-backed-byd-relishes-success-newly-launched?utm_source=rss_feed Tue, 04 Jan 2022 12:15:18 +0000 At its Smart Life showroom in downtown Shenzhen, Huawei Technologies Co displays everything from tablets to vacuum cleaners as it seeks to woo consumers in China’s southern tech hub. But the most eye-catching offering from the Chinese technology giant is a navy blue sport-utility vehicle, the Aito M5, which Huawei launched last week in its latest bid to crack the country’s highly competitive electric vehicle (EV) market. The Aito M5 comes equipped with Huawei’s proprietary operating system,... https://www.scmp.com/tech/big-tech/article/3161760/can-huawei-reinvent-itself-successful-car-brand-its-smartphone?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3161760/can-huawei-reinvent-itself-successful-car-brand-its-smartphone?utm_source=rss_feed Sat, 01 Jan 2022 12:00:28 +0000 Tesla recalled some 475,000 cars in the US – nearly equivalent to its global deliveries last year – because of technical defects that may increase the risk of accidents. The company plans to recall all Model 3 vehicles made between 2017 and 2020 – that’s as many as 356,309 cars. The cable harness for the rear-view camera may be damaged by opening and closing the boot and prevent the image from displaying, it told the National Highway Traffic Safety Administration. Tesla is also recalling as many... https://www.scmp.com/business/companies/article/3161642/tesla-recalls-almost-half-million-model-3-model-s-cars-us-fix?utm_source=rss_feed https://www.scmp.com/business/companies/article/3161642/tesla-recalls-almost-half-million-model-3-model-s-cars-us-fix?utm_source=rss_feed Fri, 31 Dec 2021 02:30:16 +0000 A chill may partially freeze China’s booming electric car industry in the first half of 2022, as the global chip shortage forces smaller assemblies to suspend production, according to a forecast by the industry guild of the world’s largest vehicle market. Global foundries can produce enough semiconductors, microcontroller units and high-end chips with artificial intelligence (AI) processors for 4 million of the so-called new energy vehicles (NEVs) in China, according to the China Passenger Car... https://www.scmp.com/business/china-business/article/3160981/chinas-ev-industry-may-go-partial-freeze-2022-global-chip?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3160981/chinas-ev-industry-may-go-partial-freeze-2022-global-chip?utm_source=rss_feed Mon, 27 Dec 2021 10:30:18 +0000 BYD, China’s largest electric vehicles (EV) maker by sales, has had to cut production at its plant in Xian, after the northwestern city was hit by lockdown measures following an outbreak of Covid-19. The Shenzhen-based company that is backed by Warren Buffett said it was doing its best to overcome the situation. It was, however, certain that reduced output at its Xian manufacturing base would force it to delay the deliveries of some of its bestselling models, such as the Qin-branded vehicles, to... https://www.scmp.com/business/china-business/article/3160858/warren-buffett-backed-chinese-ev-giant-byd-cuts-production?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3160858/warren-buffett-backed-chinese-ev-giant-byd-cuts-production?utm_source=rss_feed Thu, 23 Dec 2021 12:15:08 +0000 French carmaker Renault’s light commercial vehicle venture with China Brilliance Automotive has stopped paying salaries to employees, as it edges closer to liquidation in the absence of a white-knight investor. Renault Brilliance Jinbei Automotive, in which Renault owns a 49 per cent stake, earlier this week told more than 1,000 employees that the company would not be able to pay them monthly salaries, and that it would not contribute to their pension schemes either, according to two sources... https://www.scmp.com/business/china-business/article/3160724/renault-venture-carmaker-china-brilliance-stops-paying?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3160724/renault-venture-carmaker-china-brilliance-stops-paying?utm_source=rss_feed Wed, 22 Dec 2021 12:45:18 +0000 Qiantu Motor, one of China’s earliest electric vehicle (EV) start-ups, is planning a comeback to the country’s fast-growing market for such cars after a one-year hiatus. The carmaker, which is a subsidiary of CH-Auto Technology and is based in Suzhou, in China’s eastern Jiangsu province, had resumed production of its K50 sports car last weekend, according to a company statement. It also revealed ambitions of becoming a global player with a new model, the K20. Two sources with knowledge of the... https://www.scmp.com/business/china-business/article/3160591/qiantu-motor-one-chinas-earliest-ev-start-ups-eyes-second?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3160591/qiantu-motor-one-chinas-earliest-ev-start-ups-eyes-second?utm_source=rss_feed Wed, 22 Dec 2021 02:00:16 +0000 Chinese smart electric vehicle maker NIO has launched a new mid-size car featuring a “digital cockpit” that is squarely aimed at Tesla’s popular Model 3. The Shanghai-based carmaker also said it aims to have a presence in 25 countries and regions by 2025. After beginning sales in Norway earlier this year, it plans to expand in Germany, the Netherlands, Sweden and Denmark in 2022. The ET5, priced from 328,000 yuan (US$51,448) before subsidy, is expected to roll off the production line in... https://www.scmp.com/business/china-business/article/3160292/nio-launches-mid-size-car-eye-teslas-market-leading-model-3?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3160292/nio-launches-mid-size-car-eye-teslas-market-leading-model-3?utm_source=rss_feed Sun, 19 Dec 2021 07:40:00 +0000 BMW will assemble the X5 mid-size sports-utility vehicle (SUV) in China, shifting more of its global production capacity to its biggest single revenue source as it doubles down on growth in the world’s largest vehicle market. The X5 will be the “most advanced and sophisticated” premium vehicle assembled in northeastern China’s Shenyang city by the German luxury carmaker and its partner Brilliance China Automotive Holdings since they began their venture in 2003, BMW said. BMW-Brilliance already... https://www.scmp.com/business/china-business/article/3159683/bmw-make-x5-suvs-china-expanding-its-model-lineup-fend?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3159683/bmw-make-x5-suvs-china-expanding-its-model-lineup-fend?utm_source=rss_feed Tue, 14 Dec 2021 11:15:17 +0000 Rising metal prices that result in more expensive batteries could hurt growth at China’s high-flying electric vehicle (EV) makers. EVs are already more expensive than conventional cars because of high battery costs, and an increase in metal prices will force battery makers to raise prices and pass these on to carmakers and buyers, analysts said. “The trend of falling battery prices has reversed this year and it will probably continue over the next few year. Higher battery prices will be a big... https://www.scmp.com/business/china-business/article/3159176/chinese-ev-firms-face-slower-growth-higher-metal-prices?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3159176/chinese-ev-firms-face-slower-growth-higher-metal-prices?utm_source=rss_feed Sun, 12 Dec 2021 02:00:11 +0000 General Motors (GM) has joined the battle for supremacy in China’s increasingly crowded electric vehicle (EV) market, after its new SUV received a warm response from buyers in the mainland. The Cadillac Lyriq, a midsize luxury electric SUV, has received 5,000 orders since it went on presale on November 20, SAIC Motor, GM’s joint venture partner, said in a statement on Wednesday. The keen interest in the SUV, whose deliveries are expected to start in mid-2022, is seen as a sign that conventional... https://www.scmp.com/business/china-business/article/3158965/gms-cadillac-lyriq-suv-enters-fray-china-battle-intensifies?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3158965/gms-cadillac-lyriq-suv-enters-fray-china-battle-intensifies?utm_source=rss_feed Thu, 09 Dec 2021 02:00:22 +0000 German luxury car brand Audi is focusing on “electrification and digitalisation” to attract the new generation of buyers in China, the world’s largest electric vehicle market. The right partnerships, accurate consumer insights, and use of cutting-edge technologies are the key elements characterising Audi’s push in China, said Giorgio Delucchi, head of sales for mainland China and Hong Kong. “We want to ensure that Audi is at the forefront of the technical development with the [Chinese]... https://www.scmp.com/business/china-business/article/3158679/audi-ties-alibaba-baidu-tencent-car-technology-it-eyes?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3158679/audi-ties-alibaba-baidu-tencent-car-technology-it-eyes?utm_source=rss_feed Tue, 07 Dec 2021 00:30:21 +0000 Tesla will recall more than 20,000 of its bestselling made-in-China Model Y sport-utility vehicles (SUVs) to fix a steering issue. The US electric vehicle (EV) giant will recall 21,599 Model Ys produced in Shanghai between February 4 and October 30, or almost one in every four SUVs assembled in the first 10 months of the year, according to a statement by the State Administration for Market Regulation (SAMR). It needs to fix a faulty steering knuckle, which may break under extreme conditions and... https://www.scmp.com/business/china-business/article/3158406/tesla-recalls-one-every-four-model-ys-it-has-made-first-1o?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3158406/tesla-recalls-one-every-four-model-ys-it-has-made-first-1o?utm_source=rss_feed Fri, 03 Dec 2021 14:30:21 +0000 Chinese telecoms giant Huawei Technologies Company will develop a luxury electric sport-utility vehicle (SUV) with car making partner Seres. The SUV will be the first production model under the premium smart electric vehicle (EV) brand AITO, which was launched by Seres on Thursday. It will come fitted with Huawei’s Harmony OS cockpit system. “Banking on the information and communication technology [ICT] we have accumulated over the past 30 years, we will do our utmost to build an AITO-branded... https://www.scmp.com/business/china-business/article/3158218/huawei-underlines-ev-ambitions-plan-develop-luxury-suv?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3158218/huawei-underlines-ev-ambitions-plan-develop-luxury-suv?utm_source=rss_feed Thu, 02 Dec 2021 13:30:55 +0000 China’s three leading electric vehicle (EV) start-ups posted a record number of deliveries for November, amid a surge in demand for premium EVs. Guangzhou-based Xpeng Motors delivered 15,613 vehicles last month, a jump of 270 per cent from a year ago. Shanghai-headquartered NIO reported 10,878 deliveries for the month, more than doubling last year’s number, and Beijing-based Li Auto delivered 13,485 EVs, a surge of 190 per cent year on year. The delivery of 10,000 or more cars a month is viewed... https://www.scmp.com/business/china-business/article/3158060/leading-chinese-ev-trio-xpeng-nio-and-li-auto-post-record?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3158060/leading-chinese-ev-trio-xpeng-nio-and-li-auto-post-record?utm_source=rss_feed Wed, 01 Dec 2021 12:30:26 +0000 Shanghai-based Chinese electric vehicle (EV) start-up NIO is hiring a plant manager in Poland, a step that suggests its global ambitions have moved up a gear. In an advertisement placed on LinkedIn over the weekend, the New York-listed carmaker said it was looking for a professional based in Mazowieckie, the country’s most populous region that is also home to Warsaw, Poland’s capital city. The candidate will be responsible for establishing a plant and building up an operations team. NIO said it... https://www.scmp.com/business/china-business/article/3157770/new-york-listed-chinese-ev-firm-nio-hiring-poland-sign?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3157770/new-york-listed-chinese-ev-firm-nio-hiring-poland-sign?utm_source=rss_feed Mon, 29 Nov 2021 12:00:24 +0000 Veteran Thai journalist Nithi Thuamprathom has covered the automotive industry for two decades but it was only recently, at an exhibition in Shanghai a few years ago, that Chinese electric cars first caught his attention. “The show opened my eyes to how much China has progressed in developing its electric cars,” he said. “I had visited car shows in Europe for 10 years, but it was in China that I was very impressed with the car products on display.” When Great Wall Motor – a Chinese carmaker... https://www.scmp.com/week-asia/economics/article/3157507/why-chinese-electric-cars-are-causing-buzz-thailand?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3157507/why-chinese-electric-cars-are-causing-buzz-thailand?utm_source=rss_feed Sat, 27 Nov 2021 04:00:22 +0000 Chinese conglomerate Dalian Wanda Group is expanding its foray into the automobiles sector with the formation of a joint venture that will offer car services such as sales and parking. Wanda Automobile Technology Services was founded on Monday with a registered capital of 100 million yuan (US$15.65 million), according to sources close to the group. Tai Qing (Beijing) Technology, its joint venture partner, is a mainland Chinese firm that offers these services. The new company’s formation comes... https://www.scmp.com/business/companies/article/3157248/chinese-conglomerate-dalian-wanda-says-not-getting-business?utm_source=rss_feed https://www.scmp.com/business/companies/article/3157248/chinese-conglomerate-dalian-wanda-says-not-getting-business?utm_source=rss_feed Thu, 25 Nov 2021 00:30:14 +0000 Tesla raised the price of its entry-model electric car for the second time in five days, and marked up its sports-utility vehicle, as a global shortage of automotive chips forced the market leader in the world’s largest automobile market to make a U-turn on almost two years of discounts. The sticker price of Tesla’s rear-wheel-drive Model 3, with a driving range of 556 kilometres (345 miles), went up by 1.9 per cent, or 4,752 yuan, to 255,652 yuan (US$39,992) after discounts, the carmaker said... https://www.scmp.com/business/china-business/article/3157200/tesla-raises-prices-its-china-made-model-3-and-model-y?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3157200/tesla-raises-prices-its-china-made-model-3-and-model-y?utm_source=rss_feed Wed, 24 Nov 2021 09:30:17 +0000 Xpeng Motors said it expects deliveries to remain strong in the final two months of the year even as the Chinese smart electric vehicle (EV) start-up reported a wider loss in the third quarter on Tuesday. The Guangzhou-based carmaker backed by e-commerce giant Alibaba Group Holding, which also owns the South China Morning Post, and smartphone maker Xiaomi, said in its earnings report that it would deliver between 24,362 and 26,362 vehicles in November and December, following strong sales in the... https://www.scmp.com/business/china-business/article/3157121/china-ev-war-xpeng-expects-sales-rev-it-snaps-teslas-heels?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3157121/china-ev-war-xpeng-expects-sales-rev-it-snaps-teslas-heels?utm_source=rss_feed Tue, 23 Nov 2021 13:53:49 +0000 It is not just Malaysia’s 33 million people who are breathing a collective sigh of relief as the country slowly turns a corner in its long fight to contain a devastating surge in Covid-19. Having been hit hard by factory closures and staff shortages in Malaysian facilities that test and package semiconductors, the likes of Toyota, Ford, General Motors and Skoda Auto are also likely to be toasting the gradual reopening of the economy. Malaysia’s little-known but crucial role in the semiconductor... https://www.scmp.com/week-asia/economics/article/3148101/semiconductor-shortage-hopes-rise-key-player-malaysia-turns?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3148101/semiconductor-shortage-hopes-rise-key-player-malaysia-turns?utm_source=rss_feed Mon, 13 Sep 2021 01:30:12 +0000 This article is part of STYLE’s Inside Luxury Column. In 2012, when I moved from Europe to the US, one of the first things I bought was a Harley-Davidson Softail Slim. It was a transformational purchase. It deepened my love of motorbikes. And it opened a new world – being the proud owner of a Harley. It was love at first sight. I did not plan to buy a motorbike, I was just curious to experience the legendary brand. When I entered the showroom on a weekday evening, I saw the bike and the desire... https://www.scmp.com/magazines/style/tech-design/article/3138555/harley-davidson-livewire-can-americas-most-iconic?utm_source=rss_feed https://www.scmp.com/magazines/style/tech-design/article/3138555/harley-davidson-livewire-can-americas-most-iconic?utm_source=rss_feed Thu, 24 Jun 2021 06:02:43 +0000