https://www.scmp.com/rss/38025/feed Established in 1899, Renault is a headquartered in Boulogne-Billancourt. It produces a range of cars and vans and has cross shareholdings in Japanese vehicle group, Nissan. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Daniel Ren Daniel Ren Chinese carmakers, saddled with excess capacity and weak demand at home, are taking a new approach to global expansion: utilising idled facilities abandoned by international marques. By adopting an asset-light strategy, companies from Geely Auto to Great Wall Motor (GWM) can assemble their cars overseas at lower costs, broadening their influence on the global automotive sector, according to analysts. “Mindful of profitability as well as geopolitical and operating risks, Chinese carmakers are... https://www.scmp.com/business/china-business/article/3346472/carpool-chinese-giants-use-idled-foreign-plants-fuel-global-expansion?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3346472/carpool-chinese-giants-use-idled-foreign-plants-fuel-global-expansion?utm_source=rss_feed Sun, 15 Mar 2026 12:00:07 +0000 Reuters Reuters Formula 1 championship leader George Russell put Mercedes on pole position for the first sprint race of the season in China on Friday in a front-row lockout with teammate Kimi Antonelli. Russell led every ‌phase of the session at the Shanghai circuit to take his first career sprint pole in a time of one minute, 31.520 seconds. Antonelli was 0.289 slower. McLaren’s Lando Norris will start third after the reigning champion told stewards he had not been on a proper “push” ‌lap when Antonelli, who... https://www.scmp.com/sport/formula-one-f1/article/3346497/formula-1-george-russell-puts-mercedes-pole-chinese-grand-prix-sprint-race?utm_source=rss_feed https://www.scmp.com/sport/formula-one-f1/article/3346497/formula-1-george-russell-puts-mercedes-pole-chinese-grand-prix-sprint-race?utm_source=rss_feed Fri, 13 Mar 2026 09:09:46 +0000 Igor Patrick Igor Patrick Brazil has ended a temporary tariff exemption that allowed electric and hybrid vehicles assembled using imported parts from China to enter the country at sharply reduced costs, closing a measure that fuelled months of confrontation between the government, Chinese carmaker BYD and Brazil’s established automotive industry. The exemption expired on January 31 and was not renewed, the South China Morning Post confirmed with multiple sources on Wednesday. Companies such as BYD and Great Wall Motor... https://www.scmp.com/news/china/diplomacy/article/3342454/brazil-scraps-ev-tariff-break-china-carmaker-byd-amid-pressure-rivals?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3342454/brazil-scraps-ev-tariff-break-china-carmaker-byd-amid-pressure-rivals?utm_source=rss_feed Thu, 05 Feb 2026 03:32:30 +0000 Gerui Wang Gerui Wang French President Emmanuel Macron’s three-day visit to China last week signals a recalibration in how China and Europe engage at a moment when technological competition, trade disputes, climate imperatives and geopolitical fragmentation threaten global stability. Macron met enthusiastic students at Sichuan University; French first lady Brigitte Macron visited the Chengdu Research Base of Giant Panda Breeding. The trip fostered economic collaboration between the two countries and deliberately... https://www.scmp.com/opinion/world-opinion/article/3335838/france-and-china-are-testing-alternative-zero-sum-diplomacy?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3335838/france-and-china-are-testing-alternative-zero-sum-diplomacy?utm_source=rss_feed Wed, 10 Dec 2025 10:30:09 +0000 Ji Siqi Ji Siqi With their domestic profits narrowing and production capacity expanding, China’s firms are continuing to widen their overseas footprints in search of new, more lucrative markets. In this series, we examine China Inc.’s next phase of “going global” and the complex, challenging international environment its companies have chosen to enter. In early November, the chairman of one of China’s top construction machinery makers was spotted touring potential factory sites in Piracicaba, a city in... https://www.scmp.com/economy/china-economy/article/3335198/blue-ocean-market-why-brazil-becoming-magnet-chinese-investment?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3335198/blue-ocean-market-why-brazil-becoming-magnet-chinese-investment?utm_source=rss_feed Thu, 04 Dec 2025 22:00:15 +0000 Xiaofei Xu Xiaofei Xu This year marks half a century of formal diplomatic relations between China and the European Union, as well as the 25th anniversary of the founding of the European Union Chamber of Commerce in China. The latest story in our series examining ties between the two powers focuses on intensified competition in the auto industry, a bedrock sector for Europe and an area where China has made enormous strides, particularly in electric vehicles and other hi-tech advancements. When Volkswagen engineers... https://www.scmp.com/economy/global-economy/article/3328961/chinas-ev-boom-has-eu-setting-roadblocks-can-cooperation-clear-way?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3328961/chinas-ev-boom-has-eu-setting-roadblocks-can-cooperation-clear-way?utm_source=rss_feed Tue, 14 Oct 2025 22:00:08 +0000 Xiaofei Xu Xiaofei Xu A proposed increase to EU steel tariffs has already sown alarm among the continent’s car manufacturers, with stocks of major players plunging in the immediate aftermath of the announcement and industry insiders warning the measures could worsen cost pressures already weighing down growth in the sector. Following a Tuesday statement from the European Commission that it would cut tariff-free quotas for imported steel products by nearly half and double duties on excess shipments to 50 per cent – a... https://www.scmp.com/economy/global-economy/article/3328372/new-eu-steel-tariffs-meant-curb-chinese-imports-giving-carmakers-migraine?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3328372/new-eu-steel-tariffs-meant-curb-chinese-imports-giving-carmakers-migraine?utm_source=rss_feed Thu, 09 Oct 2025 14:00:10 +0000 Bloomberg Bloomberg Renault and China’s Chery Automobile are in talks to partner on carmaking and sales in South America as both manufacturers pursue growth in the region, according to people familiar with the matter. The discussions included plans for Colombia and Argentina, where Chery would gain access to Renault’s existing factory network in return for providing capital and product design, said the people, who asked not to be named because the deliberations are private. The Chinese carmaker would use Renault’s... https://www.scmp.com/business/china-business/article/3327564/renault-weighs-making-cars-chinas-chery-south-america?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3327564/renault-weighs-making-cars-chinas-chery-south-america?utm_source=rss_feed Thu, 02 Oct 2025 01:18:24 +0000 Xiaofei Xu Xiaofei Xu The Chinese business community in France is anxiously awaiting clarity on the country’s economic direction following French Prime Minister Francois Bayrou’s shock announcement on Monday that he plans to call a vote of confidence on his centrist minority government on September 8. His high-stakes gamble, which most political pundits expect to fail, is of particular concern for Chinese businesses because it could open the door to power for the protectionist far-right National Rally party. Bayrou... https://www.scmp.com/economy/global-economy/article/3323360/what-worries-chinese-businesses-most-about-political-chaos-france?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3323360/what-worries-chinese-businesses-most-about-political-chaos-france?utm_source=rss_feed Wed, 27 Aug 2025 09:30:22 +0000 Daniel Ren Daniel Ren Geely Auto, the mainland’s second-largest carmaker, will not build new plants amid excess capacity worldwide, a move that is likely to ripple across the sector as most Chinese companies are finding it difficult to make profits. Chairman Li Shufu told the Chongqing Auto Show over the weekend that the company would avoid building excess capacity and instead focus on improving its technological capabilities to become a key player in the future of mobility. “The global automotive industry is mired... https://www.scmp.com/business/china-business/article/3313610/chinas-geely-stop-building-new-car-plants-amid-severe-global-overcapacity-li-shufu?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3313610/chinas-geely-stop-building-new-car-plants-amid-severe-global-overcapacity-li-shufu?utm_source=rss_feed Mon, 09 Jun 2025 05:30:45 +0000 Yujie Xue Yujie Xue Some of the world’s biggest carmakers are squaring off for a titanic battle over small cars in Europe, as native stalwarts like Volkswagen and Renault fight to maintain their hold on the market against an influx of cheap electric vehicles (EVs) from BYD and its Chinese peers. Last month, BYD, which surpassed Tesla last year as the world’s largest EV maker, launched its Dolphin Surf compact hatchback in Europe. The company’s most affordable model, known in China as the Seagull, is priced from... https://www.scmp.com/business/china-evs/article/3313439/how-byd-and-chinese-peers-are-transforming-europes-small-ev-market?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3313439/how-byd-and-chinese-peers-are-transforming-europes-small-ev-market?utm_source=rss_feed Sun, 08 Jun 2025 22:30:12 +0000 Yujie Xue Yujie Xue French carmaker Renault Group is using its Chinese development centre to design new models aimed at markets beyond Europe, a senior executive said, as the company seeks to cut production costs and accelerate development by applying insights from the mainland market. The company launched its Advanced China Development Centre (ACDC) in Shanghai last year, which employs around 200 people who are focused on developing electric vehicles (EVs) for the European market. “ACDC is growing into a very... https://www.scmp.com/business/banking-finance/article/3311710/renault-leverages-shanghai-development-centre-cars-aimed-markets-outside-europe?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3311710/renault-leverages-shanghai-development-centre-cars-aimed-markets-outside-europe?utm_source=rss_feed Sun, 25 May 2025 22:00:35 +0000 Bloomberg Bloomberg Nissan has vowed to close seven factories and slash 20,000 jobs after posting its biggest annual loss since French carmaker Renault rescued it from near bankruptcy a quarter century ago. The Japanese carmaker decided against issuing an operating profit forecast for the financial year ending March 2026, and reported a net loss of 670.9 billion yen (US$4.5 billion) for the year that ended in March. “The reality is clear,” Nissan’s newly minted Chief Executive Officer Ivan Espinosa said on Tuesday... https://www.scmp.com/news/asia/east-asia/article/3310260/japans-nissan-axe-20000-jobs-shut-factories-after-huge-loss?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3310260/japans-nissan-axe-20000-jobs-shut-factories-after-huge-loss?utm_source=rss_feed Wed, 14 May 2025 04:20:48 +0000 Yujie Xue Yujie Xue Chinese electric-vehicle (EV) companies should speed up their “go global” push regardless of tariffs and barriers set in their path, a former government minister and industry insiders said at a forum on Friday. The country’s auto industry is still in the early stages of globalisation, as brand recognition remains low and carmakers lack overseas experience to react to the changing trade environment, keynote speaker Su Bo, former vice-minister of China’s Ministry of Industry and Information... https://www.scmp.com/business/china-evs/article/3304345/chinese-ev-makers-pressed-accelerate-global-expansion-amid-tariff-challenges?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3304345/chinese-ev-makers-pressed-accelerate-global-expansion-amid-tariff-challenges?utm_source=rss_feed Fri, 28 Mar 2025 12:00:25 +0000 Yujie Xue Yujie Xue Foreign carmakers are likely to see their market share in China shrink further this year as the brutal price war is expected to get worse, according to analysts. Overseas companies’ share of the mainland’s electric vehicle (EV) market could drop to 32 to 33 per cent this year from about 35 per cent last year, Valentin Mory, an analyst at French investment bank Natixis, said during a webinar on Wednesday. “The price war is only getting fiercer and is unlikely to falter in 2025,” said Mory. “What... https://www.scmp.com/business/china-evs/article/3299340/double-down-or-get-out-options-foreign-carmakers-china-amid-shrinking-share?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3299340/double-down-or-get-out-options-foreign-carmakers-china-amid-shrinking-share?utm_source=rss_feed Wed, 19 Feb 2025 23:30:08 +0000 Yuke Xie Yuke Xie Chinese billionaire Li Shufu is expanding carmaker Geely into Latin America through a partnership with Renault, underpinning the nation’s drive to build sales in friendly global markets as tariffs block growth in the US and Europe. Li, through his private investment holding firm Zhejiang Geely Holdings Group, signed a framework agreement with the French carmaker on Monday to produce cars in Brazil, according to a statement on Tuesday. Zhejiang Geely and Renault agreed to “expand their strategic... https://www.scmp.com/business/china-evs/article/3299099/chinese-ev-maker-geely-joins-byd-brazil-push-deal-renault?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3299099/chinese-ev-maker-geely-joins-byd-brazil-push-deal-renault?utm_source=rss_feed Tue, 18 Feb 2025 04:45:40 +0000 Bloomberg Bloomberg Brazilian ports have been clogged this year with more than 70,000 unsold Chinese electric vehicles (EV), in a sign of how hard it is becoming for China’s carmakers to keep up their robust growth. Companies such as BYD and Great Wall Motor have global ambitions, and Brazil has become a crucial proving ground with many other large economies turning towards protectionism. The country is the world’s sixth-biggest car market and success there may boost prospects across the region. But after taking... https://www.scmp.com/business/china-evs/article/3290647/brazilian-ports-jammed-70000-unsold-chinese-evs-tariffs-loom?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3290647/brazilian-ports-jammed-70000-unsold-chinese-evs-tariffs-loom?utm_source=rss_feed Fri, 13 Dec 2024 06:24:41 +0000 Bloomberg Bloomberg Renault SA is trying to strengthen its electric-vehicle (EV) business at a time of flagging demand by building up its footprint in a country where it does not even sell cars – China. The French carmaker is turning to one of the few markets where battery-powered cars are selling well to access new technology and learn how to make EVs faster. The company has hired some 200 people in Shanghai, mainly hardware engineers working on the development of a sub-€20,000 (US$21,106) electric Twingo, and... https://www.scmp.com/business/china-evs/article/3288628/renault-goes-china-hiring-spree-bolster-ev-push-home?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3288628/renault-goes-china-hiring-spree-bolster-ev-push-home?utm_source=rss_feed Fri, 29 Nov 2024 05:03:48 +0000 Chinese automakers should consider localising production in Russia – now the largest importer of Chinese cars – to capitalise on cost savings, a Russian industry organisation has urged. Importing cars into Russia through container shipments by rail is becoming increasingly expensive due to rising customs duties and other fees, Vitaly Mankevich, chairman of the Russia-Asia Union of Industrialists and Entrepreneurs, told Sputnik News during the Eastern Economic Forum earlier this month. “This is a... https://www.scmp.com/economy/global-economy/article/3279649/make-chinese-cars-russia-industry-group-urges-manufacturers-import-costs-mount?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3279649/make-chinese-cars-russia-industry-group-urges-manufacturers-import-costs-mount?utm_source=rss_feed Mon, 23 Sep 2024 14:00:07 +0000 Chinese autonomous driving start-up WeRide has postponed its US initial public offering (IPO), citing the need for additional time to finalise necessary documents. The company was looking to raise up to US$440 million in a New York listing originally scheduled for this week. WeRide said in a statement on Thursday that “the time required to update documents has taken longer than expected” and the company “is actively working on the necessary documents for the transaction”. The delay, first... https://www.scmp.com/tech/tech-war/article/3275472/robotaxi-start-weride-delays-us-ipo-days-chinese-approval-expires?utm_source=rss_feed https://www.scmp.com/tech/tech-war/article/3275472/robotaxi-start-weride-delays-us-ipo-days-chinese-approval-expires?utm_source=rss_feed Thu, 22 Aug 2024 10:00:31 +0000 Martin Choi Martin Choi BeyonCa, a Chinese premium electric vehicle (EV) start-up backed by French carmaker Renault Group and Chinese state-owned Dongfeng Motor Corporation, has signed agreements with supply chain partners and financial institutions to accelerate its aim of establishing the first “Made in Hong Kong” car brand. BeyonCa signed new partnerships on Thursday with a Shanghai subsidiary of Chinese battery giant Contemporary Amperex Technology (CATL) as well as GF Securities, East West Bank, Fengde Capital and... https://www.scmp.com/business/companies/article/3270982/beyonca-teams-catl-finance-firms-accelerate-made-hong-kong-ev-goal?utm_source=rss_feed https://www.scmp.com/business/companies/article/3270982/beyonca-teams-catl-finance-firms-accelerate-made-hong-kong-ev-goal?utm_source=rss_feed Thu, 18 Jul 2024 10:57:54 +0000 Carmaker Renault Korea Motors is embroiled in a misandry backlash online sparked by promotional content, which has drawn attention to a particular pinching gesture in South Korean society deemed offensive. The episode underscores deepening gender conflict among the country’s young men and women, a phenomenon blamed on high unemployment and the widespread men-only online communities hostile to the opposite sex. The Korean unit of French automobile group Renault S.A. has apologised and suspended a... https://www.scmp.com/week-asia/lifestyle-culture/article/3268742/renault-korea-backlash-carmaker-embroiled-misandry-row-over-finger-gesture-video?utm_source=rss_feed https://www.scmp.com/week-asia/lifestyle-culture/article/3268742/renault-korea-backlash-carmaker-embroiled-misandry-row-over-finger-gesture-video?utm_source=rss_feed Mon, 01 Jul 2024 09:55:27 +0000 Daniel Ren Daniel Ren BeyonCa, a Chinese premium electric vehicle (EV) start-up, said it will build a factory and establish its global headquarters in Hong Kong as it looks to tap the strong automotive supply-chain and rich international talent pool in the Greater Bay Area and gain a foothold in the industry. It plans to set up a production line and four major centres for research and marketing at the Hong Kong Science and Technology Parks (HKSTP)’s advanced manufacturing site at Tseung Kwan O, according to Soh... https://www.scmp.com/business/china-business/article/3268513/beyonca-establish-first-made-hong-kong-car-brand-smart-electric-vehicle?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3268513/beyonca-establish-first-made-hong-kong-car-brand-smart-electric-vehicle?utm_source=rss_feed Sat, 29 Jun 2024 00:00:22 +0000 Renault-owned Alpine have extended Pierre Gasly’s stay for the 2025 season and beyond, the Formula One team said on Thursday. Earlier this month, Alpine decided to part ways with Esteban Ocon at the end of the season, ending his near-five-year spell with the team. Gasly, who is in his second season with Alpine after joining from Scuderia Alpha, has 140 race starts in Formula One. After a tough start to this campaign, the Frenchman has scored points in three races in a row. The 28-year-old’s best... https://www.scmp.com/sport/formula-one-f1/article/3268320/formula-1-pierre-gasly-lance-stroll-extend-deals-alpine-aston-martin-beyond-2025?utm_source=rss_feed https://www.scmp.com/sport/formula-one-f1/article/3268320/formula-1-pierre-gasly-lance-stroll-extend-deals-alpine-aston-martin-beyond-2025?utm_source=rss_feed Thu, 27 Jun 2024 11:33:21 +0000 The European Union announced on June 12th that it would levy additional tariffs of up to 38 per cent on Chinese electric vehicles (EVs), which could deal a blow to domestic EV companies. Unlike the quadrupling of tariffs announced by the White House last month, whose impact appears to be minimal because so few Chinese-made EVs are sold in the US, the EU’s new levies are likely to inflict some pain as the bloc has long been considered a major destination for the country’s electric cars. The 27 EU... https://www.scmp.com/business/article/3267373/what-eus-extra-tariffs-chinas-electric-vehicles-mean-carmakers-both-markets?utm_source=rss_feed https://www.scmp.com/business/article/3267373/what-eus-extra-tariffs-chinas-electric-vehicles-mean-carmakers-both-markets?utm_source=rss_feed Thu, 20 Jun 2024 08:59:39 +0000 Chinese electric vehicle (EV) start-up BeyonCa has set its sights on the Middle East with the signing of a preliminary investment deal with Riyadh-based Al Faisaliah Group (AFG) that is expected to help raise fresh funds and fuel growth. The Beijing-based carmaker, which is backed by French automobiles manufacturer Renault and China’s Dongfeng Motor, said on Monday that the agreement signed last week would result in “a substantial investment” if it were to materialise. BeyonCa did not provide... https://www.scmp.com/business/china-business/article/3238905/renault-backed-chinese-ev-start-beyonca-signs-preliminary-saudi-investment-deal-eye-middle-east?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3238905/renault-backed-chinese-ev-start-beyonca-signs-preliminary-saudi-investment-deal-eye-middle-east?utm_source=rss_feed Mon, 23 Oct 2023 12:15:19 +0000 Nissan Motor has finalised plans to invest in Renault’s electric-vehicle venture Ampere, capping months of negotiations to rebalance the troubled automotive alliance. Nissan will invest as much as €600 million (US$663 million) in the business, the companies said in a statement on Wednesday. Separately, the pair formalised a deal for Renault to reduce its ownership of Nissan to 15 per cent by placing the rest of its current 43 per cent shareholding in a French trust. “These agreements provide us... https://www.scmp.com/business/companies/article/3228961/nissan-invest-us663-million-renault-ev-unit-ampere-franco-japanese-alliance-rejigged?utm_source=rss_feed https://www.scmp.com/business/companies/article/3228961/nissan-invest-us663-million-renault-ev-unit-ampere-franco-japanese-alliance-rejigged?utm_source=rss_feed Wed, 26 Jul 2023 06:29:30 +0000 France’s Renault has formally signed a joint-venture agreement with China’s Zhejiang Geely Holding Group to set up a new combustion engine and hybrid power-train company, while Saudi Aramco is still mulling an investment. The move follows a letter of intent signed between the three parties in March as the joint venture seeks to pool resources to work on hybrid technology and synthetic fuels to power 80 per cent of the global internal combustion engine and hybrid market, the companies said in a... https://www.scmp.com/business/china-business/article/3227310/renault-geely-agree-set-power-train-firm-aramco-still-mulling-investment?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3227310/renault-geely-agree-set-power-train-firm-aramco-still-mulling-investment?utm_source=rss_feed Tue, 11 Jul 2023 09:35:10 +0000 China’s Geely Automobile Holdings will double its stake in Aston Martin Lagonda Global Holdings, becoming the UK sports car maker’s third biggest shareholder in a transaction that will unlock £95 million (US$118 million) for the company. As part of a £234 million transaction, Geely will acquire a 17 per cent stake in the company, purchasing 42 million shares from chairman Lawrence Stroll’s Yew Tree consortium along with 28 million new shares, Aston Martin said in a stock exchange filing. Geely... https://www.scmp.com/business/companies/article/3221030/chinas-geely-controlled-billionaire-li-shifu-double-aston-martin-stake-us291-million-deal?utm_source=rss_feed https://www.scmp.com/business/companies/article/3221030/chinas-geely-controlled-billionaire-li-shifu-double-aston-martin-stake-us291-million-deal?utm_source=rss_feed Thu, 18 May 2023 10:50:41 +0000 Tesla has begun producing in Shanghai a version of the Model Y to be sold in Canada this year, the first time it will ship cars to North America from China, according to a person with direct knowledge of the plan and a production memo seen by Reuters. The move would connect Tesla’s biggest and most cost-efficient factory in the world to North America, its largest market. The Model Y is the electric vehicle (EV) maker’s bestselling model globally. Over the weekend, Tesla posted on its website... https://www.scmp.com/business/companies/article/3218125/tesla-readies-export-bestselling-model-y-suv-canada-china-source-says?utm_source=rss_feed https://www.scmp.com/business/companies/article/3218125/tesla-readies-export-bestselling-model-y-suv-canada-china-source-says?utm_source=rss_feed Mon, 24 Apr 2023 06:11:51 +0000 China’s Geely Automobile Holdings and Renault SA have moved one step closer to finalising a deal to bring Saudi Arabia’s national oil producer on board as a partner in a venture to develop car engines based on gasoline, alternative fuels and hybrid technologies. Saudi Arabian Oil Company (Saudi Aramco) has signed a letter of intent to acquire a minority stake in an existing joint venture set up by Hangzhou-headquartered Geely and France-based Renault, according to a filing with the Hong Kong... https://www.scmp.com/business/china-business/article/3212091/chinas-geely-bringing-saudi-aramco-joint-venture-renault-build-gasoline-hybrid-alternative-fuel?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3212091/chinas-geely-bringing-saudi-aramco-joint-venture-renault-build-gasoline-hybrid-alternative-fuel?utm_source=rss_feed Thu, 02 Mar 2023 09:30:37 +0000 Chinese smart electric vehicle (EV) start-up BeyonCa expects to carve its niche in the world’s largest car market by challenging the likes of Bayerische Motoren Werke (BMW), Mercedes-Benz and Audi in the luxury segment, with the goal to release new models that also provide unique healthcare services. “We are an alternative to BBA [BMW, Benz and Audi],” BeyonCa founder and chairman Soh Weiming, told the South China Morning Post on Sunday. “We focus on smart premium design and on user services... https://www.scmp.com/business/banking-finance/article/3197783/chinese-ev-start-beyonca-seeks-change-game-mainland-luxury-car-segment-offering-unique-healthcare?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3197783/chinese-ev-start-beyonca-seeks-change-game-mainland-luxury-car-segment-offering-unique-healthcare?utm_source=rss_feed Sun, 30 Oct 2022 12:53:18 +0000 Renault’s chief executive Luca De Meo toured a South Korean factory run with China’s Geely Automobile on Tuesday, as he pitched for sweeping restructuring of an alliance that would allow the French carmaker to focus on electric cars. Renault and Nissan said on Monday they were in talks about a reset in their partnership that could include the Japanese carmaker investing in a new electric vehicle (EV) venture Renault plans to launch. Separately, Geely, which owns Volvo Cars and a 9.7 per cent... https://www.scmp.com/business/companies/article/3195549/renault-ceo-tours-south-korea-unit-reigniting-talk-it-may-sell?utm_source=rss_feed https://www.scmp.com/business/companies/article/3195549/renault-ceo-tours-south-korea-unit-reigniting-talk-it-may-sell?utm_source=rss_feed Tue, 11 Oct 2022 07:35:23 +0000 Zhejiang Geely Holding Group, one of China’s largest privately-owned carmakers and owner of Sweden’s Volvo Cars, said on Friday that it had taken a nearly 8 per cent stake in British ultra-luxury carmaker Aston Martin. The Hangzhou-based carmaker took a 7.6 per cent stake in Aston Martin Lagonda Global Holdings – the maker of sports cars favoured by fictional secret agent James Bond – for an undisclosed amount, according to a stock exchange filing in London on Friday. The stake purchase came as... https://www.scmp.com/business/china-business/article/3194456/volvo-owner-geely-takes-8-cent-stake-british-ultra-luxury?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3194456/volvo-owner-geely-takes-8-cent-stake-british-ultra-luxury?utm_source=rss_feed Fri, 30 Sep 2022 12:15:10 +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 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 French carmaker Renault Group is returning to the mainland China’s passenger car market, the world’s largest, with a new partnership with Geely, more than a year after quitting a venture in Wuhan with a local rival. Renault and privately-held Zhejiang Geely Holding Group – which owns Geely Auto, Volvo Cars and a stake in Daimler – agreed to share resources and technologies to focus on making hybrid vehicles for Asian markets, according to a statement on Monday. No other details were disclosed in... https://www.scmp.com/business/companies/article/3144315/china-ev-market-renault-eyes-comeback-geely-tie-after-exiting?utm_source=rss_feed https://www.scmp.com/business/companies/article/3144315/china-ev-market-renault-eyes-comeback-geely-tie-after-exiting?utm_source=rss_feed Mon, 09 Aug 2021 01:30:32 +0000 China’s exports of rare earth products in the first half of the year have surged past pre-pandemic levels in 2019, as the world’s biggest producer of the metallic elements recovers momentum despite attempts by the United States to bolster its domestic supply chain and some Western carmakers to find alternative suppliers. The country’s rare earth exports by volume in the first six months of the year were about 51,000 tonnes, 25.3 per cent higher than the same period last year, and 16.5 per cent... https://www.scmp.com/economy/china-economy/article/3141844/chinas-rare-earth-exports-surge-past-pre-coronavirus-levels?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3141844/chinas-rare-earth-exports-surge-past-pre-coronavirus-levels?utm_source=rss_feed Tue, 20 Jul 2021 16:00:07 +0000 China’s Envision Group plans to spend as much as €2 billion (US$2.4 billion) on a battery plant in northern France to power an affordable range of Renault SA electric vehicles. The deal is part of the European carmaker’s EV strategy that will also see it acquire a stake of slightly more than 20 per cent in a year-old French start-up called Verkor for higher-performance power packs destined for larger and premium models, according to a Renault statement. French President Emmanuel Macron is... https://www.scmp.com/news/world/europe/article/3138962/chinas-envision-group-build-24-billion-battery-plant-renault?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3138962/chinas-envision-group-build-24-billion-battery-plant-renault?utm_source=rss_feed Sun, 27 Jun 2021 22:43:12 +0000 Chinese Formula 1 hope Zhou Guanyu kept up his quest for a Formula 3 Asian Championship title and the all-important Super Licence points with a second-place finish in Dubai on Saturday. Zhou, racing for Abu Dhabi Racing by Prema, finished between winner Patrik Pasma and series leader Pierre-Louis Chovet to move into second after 11 of the 15 races. He also finished second, behind Chovet, in Friday’s race. “My main focus was to make sure Chovet was staying behind,” Zhou said after the race.... https://www.scmp.com/sport/china/article/3121652/chinese-f1-hope-zhou-guanyu-keeps-f3-asia-title-fight?utm_source=rss_feed https://www.scmp.com/sport/china/article/3121652/chinese-f1-hope-zhou-guanyu-keeps-f3-asia-title-fight?utm_source=rss_feed Sat, 13 Feb 2021 09:27:57 +0000 China’s Zhou Guanyu won his first Formula Two race after an accident-shortened Sochi on Sunday becoming the first Chinese driver to win in the category. Zhou was declared the winner of the Sochi sprint race for a first career victory in his second season as an F2 driver. He becomes the 11th winner this year. The UNI-Virtuosi driver was 0.8 seconds ahead of Nikita Mazepin, who finished second, while championship leader Mick Schumacher, who started in eighth, finished third. Results were taken... https://www.scmp.com/sport/motorsport/article/3103319/f2-chinas-zhou-guanyu-makes-history-sochi-sprint-win?utm_source=rss_feed https://www.scmp.com/sport/motorsport/article/3103319/f2-chinas-zhou-guanyu-makes-history-sochi-sprint-win?utm_source=rss_feed Mon, 28 Sep 2020 07:09:39 +0000 At a factory near Germany’s border with the Czech Republic, Volkswagen’s ambitious strategy to become the global leader in electric vehicles (EVs) is coming up against the reality of manufacturing during a pandemic. The assembly lines in the German town of Zwickau, which produce Volkswagen’s soon-to-be released ID.3 electric hatchback, are the centrepiece of a plan by the world’s biggest carmaker to spend 33 billion euros (US$36 billion) by 2024 developing and building EVs. At the site, where an... https://www.scmp.com/tech/big-tech/article/3086369/costly-electric-vehicles-confront-harsh-coronavirus-reality?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3086369/costly-electric-vehicles-confront-harsh-coronavirus-reality?utm_source=rss_feed Wed, 27 May 2020 10:45:25 +0000 The Covid-19 outbreak has many speculating whether there will be a mass exit by foreign companies from China after the pandemic. Indeed, the crisis has delivered massive blows to many companies’ supply chains. A March survey by the American Chamber of Commerce in South China indicates that all 237 respondents have seen their supply chains affected, and 15 per cent of respondents were already out of some supplies. Some governments have echoed these concerns. On April 7, Japan unveiled a relief... https://www.scmp.com/comment/opinion/article/3081759/will-coronavirus-pandemic-be-final-nail-coffin-chinas-manufacturing?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3081759/will-coronavirus-pandemic-be-final-nail-coffin-chinas-manufacturing?utm_source=rss_feed Tue, 28 Apr 2020 12:00:16 +0000 Renault has decided to bow out of making cars in the world’s largest vehicle market, as a three-month shutdown of its Wuhan assembly in the former coronavirus epicentre pushed the French carmaker beyond any hope of catching up with competitors in China. Renault will transfer the 50 per cent stake in its venture with Dongfeng Motor Group to its Chinese partner, according to a statement to the Hong Kong stock exchange, where Dongfeng’s shares are traded. The French carmaker, based in... https://www.scmp.com/business/china-business/article/3079860/renault-exits-wuhan-car-venture-months-lockdown-contain?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3079860/renault-exits-wuhan-car-venture-months-lockdown-contain?utm_source=rss_feed Tue, 14 Apr 2020 10:30:16 +0000 China’s auto production is likely to decline “materially” during the first quarter and could trim overall production by as much as 2 per cent this year because the coronavirus epidemic has forced carmakers to delay reopening their plants, according to S&P Global Ratings. Many carmakers had already closed their factories for two weeks in January for the Lunar New Year holiday that began on January 25, and have since been asked to keep their workers at home through at least February 9 as local... https://www.scmp.com/business/companies/article/3048698/coronavirus-could-cut-china-auto-production-2-cent-year-sp-says?utm_source=rss_feed https://www.scmp.com/business/companies/article/3048698/coronavirus-could-cut-china-auto-production-2-cent-year-sp-says?utm_source=rss_feed Mon, 03 Feb 2020 06:45:24 +0000 The decision by former Nissan chairman Carlos Ghosn to flee Japan before he was to face trial for financial impropriety later this year has caused something of a schism between Japanese and “gaijin”, a common term for foreigners – and his press conference in Lebanon on Wednesday has only entrenched those views. A defiant Ghosn accused Nissan and Japanese prosecutors of plotting against him, saying the charges he faced were “baseless” and “there was no way I was going to be treated fairly”.... https://www.scmp.com/week-asia/politics/article/3045615/carlos-ghosn-fugitive-or-victim-issue-split-japan-locals-and?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3045615/carlos-ghosn-fugitive-or-victim-issue-split-japan-locals-and?utm_source=rss_feed Sat, 11 Jan 2020 02:45:14 +0000 Lebanon on Thursday banned former auto executive Carlos Ghosn from travel and asked Japan to hand over his file on financial misconduct charges, as Tokyo urged the fugitive businessman to return. Ghosn – for years venerated in Japan for turning around once-ailing Nissan – fled while awaiting trial on charges including under-reporting his compensation to the tune of US$85 million. His shock arrival in his native Lebanon last month was the latest twist in a story worthy of a Hollywood plot and... https://www.scmp.com/news/world/middle-east/article/3045441/lebanon-bans-ex-nissan-chief-carlos-ghosn-foreign-travel?utm_source=rss_feed https://www.scmp.com/news/world/middle-east/article/3045441/lebanon-bans-ex-nissan-chief-carlos-ghosn-foreign-travel?utm_source=rss_feed Thu, 09 Jan 2020 14:15:06 +0000 Fugitive auto tycoon Carlos Ghosn on Wednesday accused Nissan and Japanese prosecutors of plotting against him as he staged an impassioned defence at his first public appearance since fleeing the country. In a combative news conference in Beirut, the former Renault-Nissan boss – one of the world’s most high-profile corporate executives – slammed the financial misconduct charges he faced in Japan as “baseless”. Late on Wednesday, a Lebanese prosecutor summoned Ghosn for questioning on Thursday,... https://www.scmp.com/news/asia/east-asia/article/3045257/ex-nissan-boss-carlos-ghosn-claims-his-arrest-was-linked-plot?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3045257/ex-nissan-boss-carlos-ghosn-claims-his-arrest-was-linked-plot?utm_source=rss_feed Wed, 08 Jan 2020 14:10:51 +0000 The flight of Carlos Ghosn, former head of the Nissan-Renault-Mitsubishi carmaking alliance, ahead of a trial for financial misconduct has all the elements of a corporate-crime thriller. How could the target of blanket electronic and manned surveillance while on bail slip under the radar to board a jet flight to freedom without help? Ghosn is now an international fugitive in Lebanon beyond the reach of Japanese law. His escape is a dramatic turn in the saga of his arrest more than a year ago,... https://www.scmp.com/comment/opinion/article/3044699/ghosn-saga-creates-awkward-questions-japan?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3044699/ghosn-saga-creates-awkward-questions-japan?utm_source=rss_feed Sat, 04 Jan 2020 13:20:35 +0000 How did Carlos Ghosn do it? The former head of the Nissan-Renault car alliance who was awaiting the first of two trials in Tokyo, somehow evaded almost round-the-clock manned and video surveillance and heavy restrictions on his freedom of movement to flee to Lebanon. From there, Ghosn released an email Tuesday decrying the “injustice and political persecution” of the Japanese judicial system. The 65-year-old faced charges of financial misconduct and raiding corporate resources for personal gain,... https://www.scmp.com/news/asia/east-asia/article/3044196/ghosn-wind-did-ex-nissan-chief-flee-japan-musical-instrument?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3044196/ghosn-wind-did-ex-nissan-chief-flee-japan-musical-instrument?utm_source=rss_feed Wed, 01 Jan 2020 06:59:46 +0000