News about the global automotive industry with a focus on developments that matter most for the China market.
Thailand aims to convert about a third of its annual production of 2.5 million vehicles into EVs by 2030 and is preparing incentives to encourage more investment.
China’s surging car exports, led by EVs, could top 5 million this year – but outsized demand is pitting manufacturers against each other in a price war to secure so-called ro-ro ships that haul thousands of vehicles.
Science Park to host centre for Contemporary Amperex Technology (CATL), according to government source, with about 500 staff to be recruited.
The Shanghai-based carmaker posted a third-quarter net loss of 4.56 billion yuan (US$639 million), 24.8 per cent narrower than in the previous quarter.
Deliveries hit a record 940,000 units in November, industry body CPCA estimates, as a strong second half of the year puts EV makers on course to meet an ambitious sales target for 2023 despite a bumpy start.
The new rules are intended to help spur US electric vehicle sales while weaning the battery supply chain away from China.
Hozon New Energy Automobile has started assembling vehicles in Thailand at its first overseas factory as it steps up its efforts to tap the Southeast Asian market.
The venture will aim to install at least 1,000 high-power charging stations with about 7,000 charging piles in the world’s largest EV market by the end of 2026 to ‘provide Chinese customers with premium charging services’, BMW says.
Nio will team up with Zhejiang Geely to promote battery swapping technology as the two leading EV makers try to overcome poor charging infrastructure in the world’s biggest EV market.
Huawei called on current partners Seres, Chery, JAC and BAIC to take a stake in a new joint venture initiated by Huawei and Changan Automobile.
At the UK’s Global Investment Summit in London, Dominic Johnson said while the geopolitical picture remains fraught, he is still looking to attract Chinese investors, particularly electric vehicle manufacturers.
The surprise announcement shows Huawei’s ambitions in the car business despite repeatedly denying that the company will make its own vehicles.
Nio envisions full automation at its plants in future through the use of advanced AI and robotic technologies, vice-president Ji Huaqiang says. The EV maker laid off 10 per cent of its staff this month.
Volkswagen is developing a new platform for entry-level electric vehicles in China and use more local components to lower costs, as the German company seeks to regain lost ground in the world’s biggest car market.
Shanghai-based Nio has formed a partnership with state-owned Changan Automobile to build EVs equipped with battery swapping technology to ease drivers’ range anxiety.
New launches by BYD, the world’s largest electric vehicle (EV) maker, targeting established models by Tesla, leader in China’s premium EV segment, are expected to intensify competition in the world’s largest auto market, analysts said.
Li Auto, Tesla’s closest rival in mainland China, unveiled its first multipurpose vehicle (MPV) on Friday as the electric vehicle (EV) maker looks to expand its customer base in the family segment of the world’s biggest car market.
India’s adoption of EVs remains slow and is hindered by the high cost of cars, a lack of models and charging options.
In China, the world’s largest EV market, where ‘intelligent’ battery-powered vehicles are a must-have, Huawei Technologies, Baidu and Xiaomi are challenging established players and heightening concerns about overcapacity and a price war.
US sanctions on China, coupled with the rapid rise of China’s automobile industry, have South Korean authorities seeking new areas to cooperate with their neighbour and occasional rival.
The carmaker, which saw losses expand to US$537 million in the quarter ended September 30, said it would hand between 59,500 and 63,500 vehicles to customers between October and December, marking an all-time high.
Tesla’s deliveries in mainland China fell 34.2 per cent month on month in October, slipping further following a 32.8 per cent drop in September, according to CPCA. The price increases will push consumers towards rivals, analyst says.
The company has made public its listing documents for an IPO on the New York Stock Exchange in what would be the first major flotation by a Chinese firm in the US since Beijing tightened its approval procedure in 2021.
Chinese electric vehicle makers are rapidly gaining market share in Thailand and have pledged US$1.5 billion in investment for manufacturing.
The Shanghai-based company’s lay-offs reflect its effort to stay afloat amid escalating competition in the world’s largest EV market and rising losses.
China’s premium EV makers report bumper October sales as technology-packed vehicles continue to find favour with wealthy buyers.
Tesla’s shares have sunk more than 17 per cent since the EV giant dialled back growth expectations during its third-quarter earnings call on October 18.