https://www.scmp.com/rss/55240/feed General Motors (GM) is a US carmaker that was the world’s biggest, although Toyota is challenging it for the title. It was hard hit by the global financial crisis, needing a government bailout, but emerged from chapter 11 reorganisation in 2009, and held an initial public offering in 2010. It returned to profit in 2011. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Lucy Quaggin Lucy Quaggin US President Donald Trump’s administration announced on Wednesday that it would rescind a rule rewarding electric vehicle production – eliminating the so-called “fuel content factor” – the latest in a series of actions rolling back federal support for EVs that analysts say could leave the US further behind in a global race increasingly shifting in China’s favour. The move comes as the US struggles to compete with China’s rapid growth in the EV sector, marking another setback for America’s... https://www.scmp.com/news/china/diplomacy/article/3343942/does-trumps-retreat-electric-vehicle-policy-risk-ceding-ground-china?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3343942/does-trumps-retreat-electric-vehicle-policy-risk-ceding-ground-china?utm_source=rss_feed Wed, 18 Feb 2026 19:12:50 +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 Xinmei Shen,Khushboo Razdan Xinmei Shen,Khushboo Razdan The White House’s top trade official has accused Beijing of “weaponising” its dominance in critical minerals, pledging that the US will use pricing, tariffs, and industrial policy to ensure its entire critical minerals supply chain is in the hands of America and its allies. Speaking at the Centre for Strategic and International Studies in Washington on Tuesday, US Commerce Secretary Howard Lutnick said the US needed to mine, process and refine critical minerals, and called on its allies to do... https://www.scmp.com/news/china/diplomacy/article/3342305/top-us-trade-official-spells-out-plan-break-chinas-grip-critical-minerals?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3342305/top-us-trade-official-spells-out-plan-break-chinas-grip-critical-minerals?utm_source=rss_feed Wed, 04 Feb 2026 02:13:26 +0000 Khushboo Razdan Khushboo Razdan Seeking to blunt China’s dominance over critical minerals that underpin hi-tech manufacturing, the administration of US President Donald Trump is rolling out a slate of measures this week aimed at reducing US reliance on Beijing. A White House official confirmed to the South China Morning Post that Trump has launched a US$12 billion public-private initiative to build a large commercial stockpile of critical minerals titled “Project Vault”. The project is being billed as a strategic reserve... https://www.scmp.com/news/us/economy-trade-business/article/3342151/trump-administration-unveil-12-billion-push-curb-chinas-grip-critical-minerals?utm_source=rss_feed https://www.scmp.com/news/us/economy-trade-business/article/3342151/trump-administration-unveil-12-billion-push-curb-chinas-grip-critical-minerals?utm_source=rss_feed Mon, 02 Feb 2026 15:33:37 +0000 Bloomberg Bloomberg US President Donald Trump’s investments in municipal and corporate debt through December included bonds of some companies affected by his administration’s policies. In all, the issues cost at least US$51 million. The new White House disclosure posted on Thursday shows Trump’s buys included bonds from Netflix, CoreWeave, General Motors, Boeing, Occidental Petroleum and United Rentals. He also bought municipal bonds from American cities and local school districts, utilities and hospitals. The... https://www.scmp.com/news/world/united-states-canada/article/3340210/trump-buys-netflix-boeing-gm-bonds-us51-million-spree-linked-his-own-policy-agenda?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3340210/trump-buys-netflix-boeing-gm-bonds-us51-million-spree-linked-his-own-policy-agenda?utm_source=rss_feed Fri, 16 Jan 2026 12:16:23 +0000 Lucy Quaggin Lucy Quaggin After years of competing head-to-head with China in electric vehicles, the United States is now widely seen as falling behind – a reality increasingly acknowledged even within Detroit. When asked about the topic recently on a podcast, US carmaker Ford’s own CEO said: “There’s no real competition from Tesla, GM or Ford with what we’ve seen from China. It is completely dominating the EV landscape globally and more outside China.” For much of the past decade, the global electric vehicle market was... https://www.scmp.com/news/china/article/3339104/byds-win-teslas-defeat-fords-pivot-widening-gap-us-china-ev-markets?utm_source=rss_feed https://www.scmp.com/news/china/article/3339104/byds-win-teslas-defeat-fords-pivot-widening-gap-us-china-ev-markets?utm_source=rss_feed Wed, 07 Jan 2026 19:49:15 +0000 Josh Ball Josh Ball Cadillac F1 boss Graeme Lowdon would have no issue putting the “very, very fast” Zhou Guanyu into the team’s car this year and letting him race if the need arose. Hours after naming Zhou as Cadillac’s reserve driver, Lowdown said the 26-year-old was the best option for a team preparing for its debut season in a “competitive, unforgiving and absolutely relentless” sport. Zhou, who has 68 grand prix under his belt, joined the American outfit on Monday, completing an experienced line-up that... https://www.scmp.com/sport/formula-one-f1/article/3338870/no-better-candidate-very-very-fast-zhou-guanyu-boost-team-cadillac-boss-says?utm_source=rss_feed https://www.scmp.com/sport/formula-one-f1/article/3338870/no-better-candidate-very-very-fast-zhou-guanyu-boost-team-cadillac-boss-says?utm_source=rss_feed Tue, 06 Jan 2026 10:00:15 +0000 Audrey Jiajia Li Audrey Jiajia Li One of the most resonant words in the United States today is “affordability”. From rent and utilities to groceries and medical bills, prices seem to keep climbing. The term has helped Democrats win a string of local elections. It has also become a favourite target of US President Donald Trump. At a rally in Pennsylvania last month, the US president dismissed talk of affordability as a Democratic “hoax”. That stance came months after Trump revived the threat of sweeping tariffs, declared... https://www.scmp.com/opinion/china-opinion/article/3338234/us-struggles-affordability-consumer-confidence-eludes-china?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3338234/us-struggles-affordability-consumer-confidence-eludes-china?utm_source=rss_feed Fri, 02 Jan 2026 13:09:55 +0000 Associated Press Associated Press A young man from Australia with a huge social media following has given an 88-year-old US supermarket worker the gift of retirement. Ed Bambas from Michigan was presented with an oversized cheque for US$1.7 million on Friday – the result of an extraordinary online fundraising drive. “No, no,” Bambas said, wiping away tears in front of reporters. “Thank you. Oh, my God.” Sam Weidenhofer, 22, from Melbourne, is using his online influence to spread kindness – and financial support – during a visit... https://www.scmp.com/news/asia/australasia/article/3335438/australian-tiktokker-gifts-widowed-us-cashier-retirement-us17-million-donation?utm_source=rss_feed https://www.scmp.com/news/asia/australasia/article/3335438/australian-tiktokker-gifts-widowed-us-cashier-retirement-us17-million-donation?utm_source=rss_feed Sat, 06 Dec 2025 03:34:10 +0000 Daniel Ren Daniel Ren Tesla does not exclude suppliers based on their country of origin as the US electric-vehicle (EV) maker applies unified and rigorous standards in selecting vendors from around the globe, according to a senior official. Grace Tao, vice-president of the US company, offered a vote of confidence to the more than 400 Chinese manufacturers that supply car components from batteries to heat-control systems to Tesla’s Shanghai Gigafactory. She made the remarks on Wednesday, in what appeared to be an... https://www.scmp.com/business/china-business/article/3334255/tesla-affirms-confidence-chinese-partners-rejects-supplier-bans?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3334255/tesla-affirms-confidence-chinese-partners-rejects-supplier-bans?utm_source=rss_feed Wed, 26 Nov 2025 11:46:58 +0000 Ningrong Liu Ningrong Liu My recent visit to Mianyang, the second-largest city in Sichuan province, revealed a place little known despite being just a 90-minute drive from Chengdu. Its unique distinction lies in its high concentration of scientists – a legacy of its role as a central hub during the “Third Front Construction” from 1964 to 1978. This was a critical period when China relocated strategic industries inland to build a self-reliant economy against a backdrop of external threats. This era formed the second of... https://www.scmp.com/opinion/china-opinion/article/3333115/beyond-us-china-decoupling-self-reliance-now-global-movement?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3333115/beyond-us-china-decoupling-self-reliance-now-global-movement?utm_source=rss_feed Fri, 21 Nov 2025 12:30:09 +0000 Daniel Ren Daniel Ren International brands led by Tesla are intensifying their efforts to compete with Chinese electric-vehicle (EV) manufacturers like BYD, as they showcase advanced intelligence and autonomous-driving technology to attract visitors at the world’s largest import-export trade fair in Shanghai. The 12 major carmakers, including General Motors and Volvo, are leveraging the China International Import Expo (CIIE), which runs through Monday, to promote their latest models featuring longer ranges, enhanced... https://www.scmp.com/business/companies/article/3332025/tesla-and-global-carmakers-race-against-chinese-ev-rivals-shanghai-import-expo?utm_source=rss_feed https://www.scmp.com/business/companies/article/3332025/tesla-and-global-carmakers-race-against-chinese-ev-rivals-shanghai-import-expo?utm_source=rss_feed Sun, 09 Nov 2025 02:00:14 +0000 Daniel Ren Daniel Ren Premier Li Qiang is expected to promote free trade, encourage foreign investment, soothe concerns about the country’s slowing economy and highlight a trade deal with the US in a keynote speech as the eighth China International Import Expo (CIIE) opens on Wednesday. Li will for the third consecutive year address hundreds of government officials, business leaders and merchants from about 150 countries and regions to open the world’s largest import trade fair in Shanghai, Xinhua news agency... https://www.scmp.com/business/china-business/article/3331301/premier-li-qiang-highlight-us-china-pact-worlds-largest-trade-fair-ciie?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3331301/premier-li-qiang-highlight-us-china-pact-worlds-largest-trade-fair-ciie?utm_source=rss_feed Mon, 03 Nov 2025 08:00:09 +0000 Jianxi Liu Jianxi Liu US President Donald Trump’s tariffs on imported goods such as wood, furniture and cabinets have recently gone into effect, marking a significant escalation in ongoing trade tensions. Despite administration claims that tariffs primarily punish foreign exporters, mounting evidence and expert analyses reveal that American companies and consumers are bearing a substantial portion of the financial burden – a reality that challenges the narrative of tariffs as a protective economic measure. A research... https://www.scmp.com/opinion/world-opinion/article/3329604/effects-trumps-tariffs-us-paint-less-pretty-picture?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3329604/effects-trumps-tariffs-us-paint-less-pretty-picture?utm_source=rss_feed Mon, 20 Oct 2025 21:30:08 +0000 Associated Press Associated Press General Motors will record a negative impact of US$1.6 billion in its next quarter after tax incentives for electric vehicles were slashed by the US and rules governing emissions are relaxed. Shares fell less than 2 per cent before the opening bell on Tuesday. The EV tax credit ended last month. The clean vehicle tax credit was worth US$7,500 for new EVs and up to US$4,000 for used ones. Meanwhile, the Environmental Protection Agency has been working on easing rules aimed at cleaning up auto... https://www.scmp.com/news/world/united-states-canada/article/3329013/gm-faces-us12b-billion-hit-after-trump-era-rules-dent-ev-plans-challenging-tesla-and-byd?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3329013/gm-faces-us12b-billion-hit-after-trump-era-rules-dent-ev-plans-challenging-tesla-and-byd?utm_source=rss_feed Tue, 14 Oct 2025 13:08:17 +0000 Igor Patrick Igor Patrick Chinese carmaker BYD inaugurated what it describes as its largest electric vehicle plant outside Asia on Thursday, highlighting Brazil’s bid to lead South America’s shift towards clean mobility while drawing renewed scrutiny of Beijing’s expanding industrial footprint. The opening of the vast Camacari complex in Bahia state brought together President Luiz Inacio Lula da Silva, Vice-President Geraldo Alckmin, state and local officials and dozens of industry figures. It coincided with the roll-out... https://www.scmp.com/news/china/article/3328433/byd-opens-massive-brazil-plant-its-biggest-investment-outside-asia?utm_source=rss_feed https://www.scmp.com/news/china/article/3328433/byd-opens-massive-brazil-plant-its-biggest-investment-outside-asia?utm_source=rss_feed Thu, 09 Oct 2025 17:15:50 +0000 Daniel Ren Daniel Ren China’s state-owned carmakers are realigning their operations on the mainland, forming tie-ups with domestic partners after relying on foreign marques for decades, as they focus on electric vehicles (EV) in the world’s largest market for clean-energy cars. Juggernauts from FAW Group, mainland China’s oldest carmaker, to SAIC Motor, the country’s largest carmaker until 2023, are taking steps to adopt home-grown technologies like autonomous driving software and digital cockpit systems to grow... https://www.scmp.com/business/china-business/article/3326732/chinas-state-owned-car-giants-embrace-home-grown-tech-dominate-ev-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3326732/chinas-state-owned-car-giants-embrace-home-grown-tech-dominate-ev-market?utm_source=rss_feed Thu, 25 Sep 2025 23:30:09 +0000 Igor Patrick Igor Patrick Brazil announced a compromise in a dispute between Chinese EV maker BYD and traditional carmakers on Thursday, granting the company a short-term tariff break while moving forward with hikes that will hit it more aggressively in the long run. The decision was reached in a closed-door session of the Chamber of Foreign Trade (Camex) on Wednesday but not released publicly until Thursday. It follows weeks of heavy lobbying on both sides, with carmakers warning of mass lay-offs and BYD accusing rivals... https://www.scmp.com/news/china/article/3320341/brazil-grants-byd-exemption-ev-tariff-hike-not-long-sought?utm_source=rss_feed https://www.scmp.com/news/china/article/3320341/brazil-grants-byd-exemption-ev-tariff-hike-not-long-sought?utm_source=rss_feed Thu, 31 Jul 2025 17:46:20 +0000 Igor Patrick Igor Patrick Brazil’s government is facing mounting pressure as it decides on a request from Chinese carmaker BYD to reduce import tariffs for a year on semi-assembled electric and hybrid vehicles. The proposal, now under review by the Chamber of Foreign Trade, or Camex, has sparked a wave of opposition from global carmakers and regional governors who warn it could undermine Brazil’s industrial base and lead to job losses. The Camex panel, which was meeting on Wednesday, was expected to render a decision... https://www.scmp.com/news/article/3320197/brazil-debates-tariff-break-byd-opponents-warning-lay-offs-and-investment-freeze?utm_source=rss_feed https://www.scmp.com/news/article/3320197/brazil-debates-tariff-break-byd-opponents-warning-lay-offs-and-investment-freeze?utm_source=rss_feed Wed, 30 Jul 2025 19:37:02 +0000 Reuters Reuters General Motors’ second-quarter earnings took a US$1.1-billion hit from tariffs, but the automaker still beat analyst expectations for the period on Tuesday, supported by strong sales of its core petrol trucks and SUVs. The largest US automaker by sales said it expects the tariff impact to worsen in the third quarter and stuck to a previous estimate that trade headwinds threaten to hit the bottom line by US$4 billion to US$5 billion this year. GM said it could take steps to mitigate at least 30... https://www.scmp.com/news/world/united-states-canada/article/3319191/trump-tariffs-take-us1-billion-bite-out-gm-earnings-shares-fall?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3319191/trump-tariffs-take-us1-billion-bite-out-gm-earnings-shares-fall?utm_source=rss_feed Tue, 22 Jul 2025 14:53:38 +0000 Khushboo Razdan Khushboo Razdan General Motors, one of America’s top carmakers, leads US companies in its exposure to China, perched in a delicate position as bilateral trade tensions persist amid US President Donald Trump’s steep 55 per cent tariffs on imports from the country, according to a research report published this week. Other high-profile firms, including Elon Musk’s electric vehicle company Tesla, rival carmaker Ford, engine manufacturer Cummins, aerospace and tech firm Honeywell, beverage giant Coca-Cola, and... https://www.scmp.com/news/china/article/3315994/carmakers-gm-tesla-and-ford-lead-list-us-companies-china-exposure-report?utm_source=rss_feed https://www.scmp.com/news/china/article/3315994/carmakers-gm-tesla-and-ford-lead-list-us-companies-china-exposure-report?utm_source=rss_feed Thu, 26 Jun 2025 16:33:47 +0000 Agence France-Presse Agence France-Presse Tesla began offering robotaxi services Sunday in the US city of Austin, Texas, an initial step that Elon Musk’s backers believe could lead to the company’s next growth wave. “Super congratulations to the @Tesla_AI software & chip design teams on a successful @Robotaxi launch!!” Musk posted on the X platform that he owns. “Culmination of a decade of hard work.” The kickoff - which comes as Musk refocuses on his business ventures following a contentious stint in Donald Trump’s administration -... https://www.scmp.com/news/world/united-states-canada/article/3315417/musk-says-tesla-launching-driverless-robotaxis-austin-texas?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3315417/musk-says-tesla-launching-driverless-robotaxis-austin-texas?utm_source=rss_feed Sun, 22 Jun 2025 19:10:07 +0000 Kylie Knott Kylie Knott Canadian artist Edward Burtynsky was 11 years old when he saw a newspaper advert for cameras and dark room equipment. “The seller was just three blocks away, so my dad said ‘Let’s take a look’,” Burtynsky, now 70, recalls. “There were enlargers, lenses, three Minolta cameras and bulk loaders and cassettes and two 100ft (30 metre) rolls of film as well as all the chemicals and trays needed for a dark room.” His father handed over C$25 for the lot, and the young Burtynsky got busy on his first... https://www.scmp.com/lifestyle/arts/article/3311662/china-worlds-factory-builder-african-industry-dramatic-photographs?utm_source=rss_feed https://www.scmp.com/lifestyle/arts/article/3311662/china-worlds-factory-builder-african-industry-dramatic-photographs?utm_source=rss_feed Sun, 25 May 2025 05:15:09 +0000 Bloomberg Bloomberg Canada’s finance minister said the government kept 25 per cent retaliatory tariffs on tens of billions of dollars in US goods, disputing a report from a research firm that suggested it had paused the vast majority of those levies. Francois-Philippe Champagne said 70 per cent of the counter-tariffs implemented by Canada in March were still in place, according to a social media post on Saturday. The government “temporarily and publicly paused tariffs” on some items for health and public safety... https://www.scmp.com/news/world/united-states-canada/article/3310797/canada-has-nearly-zero-tariffs-us-goods-not-true-finance-minister-says?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3310797/canada-has-nearly-zero-tariffs-us-goods-not-true-finance-minister-says?utm_source=rss_feed Sun, 18 May 2025 06:33:13 +0000 Yujie Xue,Daniel Ren Yujie Xue,Daniel Ren Lower tariffs on Chinese goods are likely to keep auto-parts exports relatively attractive for American buyers, prompting mainland-based producers to reassess their plans to build production facilities in the US. The US agreed to lower its combined 145 per cent tariffs on most Chinese imports to 30 per cent for 90 days after talks in Geneva on Monday, cooling a stand-off between the world’s two biggest economies since US President Donald Trump rolled out his so-called reciprocal tariffs on the... https://www.scmp.com/business/banking-finance/article/3310061/tariff-flux-clouds-chinese-car-parts-makers-overseas-expansion-plans?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3310061/tariff-flux-clouds-chinese-car-parts-makers-overseas-expansion-plans?utm_source=rss_feed Tue, 13 May 2025 23:30:07 +0000 Robert Delaney Robert Delaney Many Americans who came of age in the 1980s will remember when Honda Accords and Toyota Camrys became the preferred family vehicles, quietly replacing US models. When quality, reliability and price were factored in, patriotism was the only remaining reason to keep an American-made car on the driveway. Two high-school friends and I each got well-worn hand-me-down cars when we started commuting to college. Dave got a Ford Fairmont estate car, which he called “the hearse”. Gary got a Buick Skylark... https://www.scmp.com/opinion/world-opinion/article/3309961/how-trumps-erratic-tariffs-could-crash-his-us-car-production-goals?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3309961/how-trumps-erratic-tariffs-could-crash-his-us-car-production-goals?utm_source=rss_feed Mon, 12 May 2025 12:30:08 +0000 Christopher Tang Christopher Tang While US President Donald Trump has been consistent in using tariffs to try to force China to buy more American goods to reduce the trade deficit, his policies have inadvertently provided Beijing with multiple pathways to gain the upper hand in the trade war. Trump, as a business executive, may view US-China relations in terms of a buyer-seller dynamic. He may think the United States has leverage as the largest buyer of Chinese goods. But until the US establishes reliable sourcing alternatives... https://www.scmp.com/opinion/china-opinion/article/3308734/thanks-trump-china-has-cards-it-needs-win-trade-war?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3308734/thanks-trump-china-has-cards-it-needs-win-trade-war?utm_source=rss_feed Sun, 04 May 2025 12:30:08 +0000 Mark Magnier Mark Magnier Leela Roye, a senior at Boston University, has been too busy thinking about final exams and college graduation to focus much on US President Donald Trump’s tariff threats and impending US- China trade war. But Roye is surrounded by classmates who love the cheap prices of online Chinese retail sites like Shein and Temu and is aware those prices could rise dramatically starting on Saturday. “A lot of people, especially in college, shop in those places because the prices are so low compared to... https://www.scmp.com/news/china/article/3308915/higher-prices-await-us-consumers-small-shipments-china-trump-trade-policy-bites?utm_source=rss_feed https://www.scmp.com/news/china/article/3308915/higher-prices-await-us-consumers-small-shipments-china-trump-trade-policy-bites?utm_source=rss_feed Fri, 02 May 2025 21:34:59 +0000 Daniel Ren,Yujie Xue Daniel Ren,Yujie Xue Foreign carmakers from Volkswagen to General Motors (GM) and Nissan are fighting back in mainland China as they unveiled new electric vehicle (EV) models at the Auto Shanghai trade show, after losing their share to local rivals in the world’s largest automotive market. The carmakers are banking on Chinese EV technologies to make their products “more electric and intelligent” so they can ramp up deliveries and catch up with indigenous brands that have seized more than 90 per cent of the EV... https://www.scmp.com/business/china-business/article/3308575/volkswagen-gm-nissan-adopt-chinese-technology-they-strive-win-back-ev-market-share?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3308575/volkswagen-gm-nissan-adopt-chinese-technology-they-strive-win-back-ev-market-share?utm_source=rss_feed Thu, 01 May 2025 00:30:16 +0000 Daniel Ren Daniel Ren Gestamp, one of the world’s top manufacturers of metal parts for cars, is pursuing acquisition opportunities in China’s automotive sector, where an excess of capacity threatens unprofitable assemblers and supply-chain vendors. The Spanish company, which supplies chassis and body products for clients like Volkswagen and Ford, is bucking the trend among international automotive firms that are disposing of their facilities in the world’s largest vehicle market amid fierce competition. “Not every... https://www.scmp.com/business/china-business/article/3308087/spanish-car-part-supplier-gestamp-eyes-added-china-capacity-peers-back?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3308087/spanish-car-part-supplier-gestamp-eyes-added-china-capacity-peers-back?utm_source=rss_feed Sun, 27 Apr 2025 07:30:53 +0000 Daniel Ren Daniel Ren SAIC Motor has teamed with Huawei Technologies to develop smart electric vehicles (EVs) under a new brand as China’s largest state-controlled carmaker plots to reverse six years of sliding sales in the world’s biggest auto market. A first production model under the new brand – known as Shangjie or “fashionable and stylish” – will be unveiled this autumn, according to a joint statement from the companies on Wednesday. It will feature Huawei’s autonomous driving and in-car entertainment systems,... https://www.scmp.com/business/china-business/article/3306809/saic-motor-joins-huawei-new-china-ev-venture-halt-multi-year-slide-sales?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3306809/saic-motor-joins-huawei-new-china-ev-venture-halt-multi-year-slide-sales?utm_source=rss_feed Wed, 16 Apr 2025 13:04:59 +0000 US President Donald Trump’s tariff assault on the world has not just shaken Wall Street and the rest of the nation. It also risks setting back the aspirations of global populations for economic recovery and improved living standards. The world continues to experience turbulence as geopolitical tensions intensify and the risk of war increases. Can such a global environment truly “Make America Great Again”? If Maga is indeed Trump’s primary goal for his second term, he has much better options than... https://www.scmp.com/opinion/world-opinion/article/3306624/china-can-offer-trump-trillions-investment-dollars-america-needs?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3306624/china-can-offer-trump-trillions-investment-dollars-america-needs?utm_source=rss_feed Wed, 16 Apr 2025 12:30:07 +0000 Canadian Prime Minister Mark Carney said his government will allow carmakers to import US-manufactured cars and trucks without tariffs, as long as the companies keep making vehicles in Canada. The move provides some relief from the trade war to companies including General Motors and Stellantis NV that have assembly plants in Ontario but still export large quantities of vehicles from the US into Canada. Last week, Carney put retaliatory tariffs of as much as 25 per cent on vehicles made in the... https://www.scmp.com/news/world/united-states-canada/article/3306670/canada-offers-carmakers-tariff-relief-honda-denies-plans-switch-us?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3306670/canada-offers-carmakers-tariff-relief-honda-denies-plans-switch-us?utm_source=rss_feed Tue, 15 Apr 2025 18:27:47 +0000 China’s automotive industry, a bright spot in the world’s second-largest economy, remains exposed to an escalating US-China tariff war, with component manufacturers likely to bear the brunt of the trade fallout, analysts said. At risk is the 100 billion yuan (US$13.6 billion) worth of car parts – from electric-car batteries to lidar sensors and drive control systems – that Chinese companies shipped to the US annually, as tariffs on all Chinese-made goods surged to 125 per cent, from just 10 per... https://www.scmp.com/business/china-business/article/3306041/chinas-auto-parts-makers-catl-gotion-seen-biggest-victims-tariff-war?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3306041/chinas-auto-parts-makers-catl-gotion-seen-biggest-victims-tariff-war?utm_source=rss_feed Fri, 11 Apr 2025 02:30:16 +0000 Agence France-Presse Agence France-Presse President Claudia Sheinbaum of Mexico, the United States’ top trading partner, on Thursday welcomed her country’s exclusion from the list of nations targeted in US President’s Donald Trump’s latest round of import tariffs. Sheinbaum told reporters Mexico was spared thanks to her government’s “good relationship” with the US administration. Mexico’s economy is considered one of the most vulnerable to Trump’s tariffs due to its close trade relations with the United States and their joint membership... https://www.scmp.com/news/world/americas/article/3305153/mexicos-president-sheinbaum-welcomes-being-left-trumps-import-tariffs-list?utm_source=rss_feed https://www.scmp.com/news/world/americas/article/3305153/mexicos-president-sheinbaum-welcomes-being-left-trumps-import-tariffs-list?utm_source=rss_feed Thu, 03 Apr 2025 20:10:56 +0000 US President Donald Trump on Wednesday unveiled a 25 per cent tariff on imported cars and light trucks starting next week, widening the global trade war he kicked off upon regaining the White House this year in a move auto industry experts expect will drive up prices and stymie production. “What we’re going to be doing is a 25 per cent tariff for all cars that are not made in the United States,” Trump said at an event in the Oval Office. Trump, who sees tariffs as a tool to raise revenue to... https://www.scmp.com/news/world/united-states-canada/article/3304032/trump-presses-ahead-25-car-tariffs-ratcheting-trade-war?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3304032/trump-presses-ahead-25-car-tariffs-ratcheting-trade-war?utm_source=rss_feed Wed, 26 Mar 2025 21:44:01 +0000 Since US mass media conglomerate Liberty Media Corporation bought the Formula One Group in 2016, investment opportunities in its title asset – Formula One (F1) and its popular motorsport world championship – have never been stronger, whether the interest is in buying a team, developing new driving talent or securing the rights to host races. According to Dan Wells, CEO of motorsport investment advisers Dan Wells & Investors, F1’s evolving business model has opened new doors for institutional... https://www.scmp.com/special-reports/article/3302676/how-liberty-media-turned-formula-one-more-enticing-investment-opportunity?utm_source=rss_feed https://www.scmp.com/special-reports/article/3302676/how-liberty-media-turned-formula-one-more-enticing-investment-opportunity?utm_source=rss_feed Mon, 17 Mar 2025 11:00:24 +0000 US President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for US carmakers, as worries persist that the newly launched trade war could crush domestic manufacturing. The pause comes after Trump spoke with leaders of the “Big 3” carmakers, Ford, General Motors and Stellantis, on Wednesday, according to White House press secretary Karoline Leavitt. Asked if 30 days was enough for the auto sector to prepare for the new taxes, Leavitt said... https://www.scmp.com/news/world/united-states-canada/article/3301219/trump-grants-us-carmakers-1-month-exemption-new-canada-mexico-tariffs?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3301219/trump-grants-us-carmakers-1-month-exemption-new-canada-mexico-tariffs?utm_source=rss_feed Wed, 05 Mar 2025 18:55:58 +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 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 General Motors CEO Mary Barra has said that China’s crowded market is a “race to the bottom”. For GM, it’s a contest that’s left the carmaker saddled with losses and rethinking its options. The US carmaker revealed on Wednesday that it would take charges and asset writedowns of more than US$5 billion for its investment in a joint venture with Shanghai’s SAIC Motor and to restructure operations in China, including closing factories. In a country that not long ago counted Buick and Chevrolet as... https://www.scmp.com/business/china-business/article/3289462/race-bottom-general-motors-grapples-huge-losses-uncertain-future-china?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3289462/race-bottom-general-motors-grapples-huge-losses-uncertain-future-china?utm_source=rss_feed Thu, 05 Dec 2024 05:12:28 +0000 Formula One will become even more of a “battle of giants” with the arrival in 2026 of General Motors’ Cadillac brand as an 11th team, according to RB boss Laurent Mekies. The Frenchman told reporters at the Qatar Grand Prix that the entry of the US carmaker, announced this week, was positive. “It’s going to be pretty much all car manufacturers probably, except for Williams and us,” he added. “Even Haas is also linked to a car manufacturer now … it’s another sign that the sport is going towards... https://www.scmp.com/sport/formula-one-f1/article/3288820/qatar-grand-prix-formula-1-will-be-battle-giants-entry-gm-says-rb-boss?utm_source=rss_feed https://www.scmp.com/sport/formula-one-f1/article/3288820/qatar-grand-prix-formula-1-will-be-battle-giants-entry-gm-says-rb-boss?utm_source=rss_feed Sat, 30 Nov 2024 14:00:11 +0000 The Mexican government on Monday raised concerns about the Biden administration’s proposal to prohibit key Chinese software and hardware in connected vehicles on American roads over national security concerns. Mexico’s economy ministry said in a filing with the US Commerce Department the proposal could have a “substantial impact on Mexico’s automotive industry. Economically, it poses potential trade barriers, disruptions to supply chains, increased production costs, and a possible risk of... https://www.scmp.com/news/china/article/3284231/mexico-warns-us-ban-chinese-car-tech-could-hurt-its-automotive-industry?utm_source=rss_feed https://www.scmp.com/news/china/article/3284231/mexico-warns-us-ban-chinese-car-tech-could-hurt-its-automotive-industry?utm_source=rss_feed Mon, 28 Oct 2024 21:06:23 +0000 Daniel Ren Daniel Ren Zeekr Intelligent Technology, the premium electric car maker controlled by Geely Auto, launched a multipurpose vehicle (MPV) to attract middle-income households, as competition heats up in the world’s largest automotive market. The five-seat Zeekr Mix, starting at 279,900 yuan (US$39,259), will take on rivals like Li Auto’s Li Mega and Xpeng’s X9. “We do not want to follow other competitors in developing similar electric cars,” Zeekr CEO An Conghui said at a launch ceremony in Hangzhou on... https://www.scmp.com/business/china-business/article/3283575/china-evs-geelys-zeekr-launches-mpv-aimed-middle-income-households?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3283575/china-evs-geelys-zeekr-launches-mpv-aimed-middle-income-households?utm_source=rss_feed Wed, 23 Oct 2024 13:09:02 +0000 Mexico is considering tax credits to attract foreign firms to invest and produce domestically, targeted at electric vehicles (EV), semiconductors, rare earth minerals, battery and electronics sectors, a top Mexican trade official said in an interview. The comments come as Mexico’s new government assesses how to spark more investment as companies look to move supply chains closer to their main market, while simultaneously navigating a turbulent and more protectionist period in the US ahead of... https://www.scmp.com/news/world/americas/article/3283287/mexicos-new-government-considers-tax-incentives-lure-foreign-companies?utm_source=rss_feed https://www.scmp.com/news/world/americas/article/3283287/mexicos-new-government-considers-tax-incentives-lure-foreign-companies?utm_source=rss_feed Mon, 21 Oct 2024 17:13:49 +0000 Daniel Ren Daniel Ren Foreign carmakers from BMW of Germany to Toyota of Japan are losing more market share to mainland Chinese rivals in the world’s biggest automotive market, paying the price for their slower transition to electrification, industry statistics showed. International marques, through their local joint ventures, delivered 480,000 units in August, a 27 per cent slump from a year earlier, the China Passenger Car Association (CPCA) said. Their market share shrank to 36.6 per cent from 48 per cent over the... https://www.scmp.com/business/china-business/article/3279264/bmw-gm-toyota-lose-more-market-share-china-transition-evs-hurt-deliveries?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3279264/bmw-gm-toyota-lose-more-market-share-china-transition-evs-hurt-deliveries?utm_source=rss_feed Fri, 20 Sep 2024 10:00:12 +0000 The US House of Representatives passed a Republican bill restricting electric vehicle tax credits on Thursday that could jeopardise licensing deals between American car makers and Chinese EV battery companies. The bill, which is opposed by the White House, was passed as the last act of China Week, a House Republican-led effort to advance China-related legislation. About two dozen such bills, including some sharply divisive ones, have cleared the chamber since Monday. All legislation that passes... https://www.scmp.com/news/china/article/3278324/us-house-approves-legislation-restrict-tax-credits-evs-using-chinese-battery-technology?utm_source=rss_feed https://www.scmp.com/news/china/article/3278324/us-house-approves-legislation-restrict-tax-credits-evs-using-chinese-battery-technology?utm_source=rss_feed Thu, 12 Sep 2024 21:26:27 +0000 China-based autonomous driving start-up WeRide has received approval from California to test its driverless vehicles with passengers, according to a permit from the state’s utility regulator. The move comes as the company seeks a valuation of as much as US$5 billion from its New York initial public offering even as the US is set to ban vehicles with China-developed systems, according to people briefed on the matter. The permit from the California Public Utilities Commission (CPUC) – issued... https://www.scmp.com/tech/tech-trends/article/3274394/chinese-robotaxi-firm-weride-gets-california-approval-test-passengers?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3274394/chinese-robotaxi-firm-weride-gets-california-approval-test-passengers?utm_source=rss_feed Wed, 14 Aug 2024 02:16:51 +0000 At a March rally in Ohio, Republican presidential candidate Donald Trump broke with party rhetoric on Chinese investment and welcomed carmakers from the country to build factories in the US. “If they want to build a plant in Michigan, in Ohio, in South Carolina, they can – using American workers, they can,” the former president said in Dayton. It’s an invitation he has since repeated, including at the Republican National Convention last month. The remarks also reflect Trump’s retreat from his... https://www.scmp.com/news/world/united-states-canada/article/3272854/donald-trumps-invitation-chinese-carmakers-might-boost-us-transition-evs?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3272854/donald-trumps-invitation-chinese-carmakers-might-boost-us-transition-evs?utm_source=rss_feed Thu, 01 Aug 2024 17:37:51 +0000 Daniel Ren Daniel Ren International carmakers may be forced to retreat from the mainland China market if they fail to catch up with home-grown competitors in developing smart electric vehicles (EVs) that local consumers crave and can afford, according to a global consultancy. Indigenous EV brands now enjoy overwhelming advantages over foreign rivals in production efficiency and technological innovation, which translates to products that provide value for money and are thus set to take the lion’s share of the market,... https://www.scmp.com/business/china-business/article/3269971/chinas-love-domestic-evs-endangers-foreign-carmakers-says-consultancy-alixpartners?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3269971/chinas-love-domestic-evs-endangers-foreign-carmakers-says-consultancy-alixpartners?utm_source=rss_feed Wed, 10 Jul 2024 22:00:19 +0000