CHINA CARS
Tesla cars for first time on Chinese government purchase list
Tesla's Model Y has been included in a list of electric and plug-in hybrid models that local governments in China can purchase as service cars. This is the first time Tesla's cars have been eligible for government purchases in China. The Jiangsu provincial government published 56 batches of new energy vehicle procurements for use as service cars by party, government, and public organizations.
Volvo to launch only EVs in India, plans one new car every year
Swedish luxury carmaker Volvo Cars plans to exclusively launch electric vehicles in India after 2030. Volvo aims to introduce one new electric vehicle annually, starting with the EC30 in 2025. The market for electric cars in India, though currently small, is growing rapidly. Volvo holds a significant share in the luxury EV segment in India and sees potential for further growth in the country's luxury vehicle market.
Chinese automakers retain grip over Southeast Asia's booming electric car market
Electric vehicle sales in Southeast Asia, led by China's BYD and Vietnam's VinFast, are surging, challenging Japanese and Korean firms in the internal combustion engine car market, as per Counterpoint Research. Japanese and Korean automakers lag in EV adoption, allowing Chinese OEMs to dominate the market.
Chinese automakers seek retaliatory tariffs on EU cars, state media reports
Industry insiders say both Europe and China have reasons for wanting to strike a deal in the months ahead to de-escalate tensions and avoid the addition of billions of dollars in new costs for Chinese EV makers, as the EU process allows for review.
Counterstrike! China eyes trade war targets across Europe
Trade war: China is preparing to retaliate against the European Union over proposed tariffs on electric cars. Targeted products include brandy from France, pork from Spain, wine primarily from France, and cars from Germany. The potential trade barriers aim to comply with WTO rules but could impact European exporters significantly.
Diversion ahead? For Chinese EVs, the road may fork out to India
The European Union's decision to hike tariffs on cheap electric vehicles made by Chinese companies has sparked concerns about unfair competition and the impact on the global auto sector. The move could lead to a reshuffling of the market dynamics, with potential consequences for both Chinese and European automakers.
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China is testing more driverless cars than any other country
Across China, 16 or more cities have allowed companies to test driverless vehicles on public roads, and at least 19 Chinese automakers and their suppliers are competing to establish global leadership in the field. No other country is moving as aggressively.
Cars? Pork? Perfume? China has many options if a trade war breaks out with Europe
Europe has announced tariffs on China-made electric cars, prompting concerns about potential retaliatory tariffs from China on European cars and agri products, leading to fears of an escalating trade war with significant economic impacts.
Tesla expects to hike price of China-made cars in EU due to tariffs
Tesla plans to raise the price of its Model 3 due to E.U. import duties on Chinese-made cars, without specifying the increase. It urged customers in select European countries to order by June as the new pricing will take effect on July 1, 2024. The E.U. will impose up to 38.1% extra duties on Chinese electric cars in July, potentially sparking retaliation from Beijing to protect its interests.
What to know about Europe's extra tariffs on Chinese electric cars
The tariffs, which have been expected for months, come on top of existing 10% duties, but the level of their impact has been disputed. Some European automakers argue they will set off a trade war, but other experts have said they will not stop China's dominance in the industry.
The world needs more batteries — but not this many
The oversupply of battery factories being constructed globally is set to exceed the demand for lithium-ion cells in the coming years, according to a report by BloombergNEF. The surge in battery production is driven by the increasing demand for electric vehicles and energy storage solutions. By the end of 2025, the global battery industry is projected to have the capacity to produce over five times the number of cells needed that year, creating a challenging situation for new entrants in the battery market.
Volvo shifting EV production to Belgium to avoid China tariffs
Volvo, which is majority-owned by China's Geely, was considering halting sales of Chinese-built EVs bound for Europe if tariffs were introduced, the newspaper said, citing company insiders. However, the report added that shifting production of Volvo's EX30 and EX90 models from China to Belgium is expected to negate the need for the company to do so and that the company insisted suspending sales of EVs made in China was no longer being considered.
China's exports grow 7.6 per cent in May, beating expectations despite trade tensions
Exports rose due to a lower base from last year, with a trade surplus widening to USD 82.62 billion in May.
Tesla upgrades in-car navigation software in China, introduces lane-level guidance
Tesla introduced new features in its in-car navigation system in China, including displaying lane markings on maps. Baidu, the map supplier, released V20 Baidu Maps with lane-level navigation for detailed road information and safety enhancements.
China's exports grow 7.6% in May, beating expectations despite trade tensions
In May, China's exports surged by 7.6% year-on-year to $302.35 billion, surpassing expectations, despite ongoing trade tensions. Imports, however, grew only by 1.8%, missing forecasts of 4% growth. This led to a widened trade surplus of $82.62 billion. The rise in exports is partly due to a low base from last year.
How China rose to lead the world in cars and solar panels
Heavy subsidies for industry, together with weak sales in China, have set the stage for an export boom, raising fears of factory job losses elsewhere
BYD launches new hybrid vehicle tech that promises 100 km with just 2.9 litres fuel
BYD in China launches latest plug-in hybrid technology achieving record low fuel consumption of 2.9 litres per 100 km. Unveiled by Chairman Wang Chuanfu in Xian, Shaanxi province, site of BYD's first automaking factory.
European autos stocks hit on China tariff jitters
European autos stocks were the worst performing equity market sector on Wednesday, following a report that suggested there was potential for China to impose higher tariffs on cars.
India to go 6km deep inside ocean to power your next electric car
India and China compete for minerals crucial for electric vehicles and solar panels. India applies to explore the Indian Ocean for cobalt and manganese, emphasizing strategic importance, Carlsberg Ridge, ANS, polymetallic nodules, Sunil Kumar Singh, NIO, and NIOT.
Will China become the cat among India's EV pigeons?
Chinese electric vehicles are causing concern in the US and Europe due to their affordability and efficiency. The US has responded by imposing tariffs on Chinese EVs and lithium-ion batteries. India may now become a target for Chinese EVs. Stellantis is considering manufacturing Leapmotor's electric vehicles in India to avoid tariffs.
Few Chinese electric cars are sold in U.S., but industry fears a flood
American automakers expressed their approval of the Biden administration's decision on Tuesday to levy a 100% tariff on electric vehicles imported from China. They stated that these vehicles could undercut billions of dollars of investments made in electric vehicle and battery manufacturing facilities in the United States.
How China rose to lead the world in cars and solar panels
Top leaders in the United States and Europe have started urging China to reduce its exports to the world and boost its imports.
Tesla ramps up job cuts in China as sales slowdown bites
Tesla Inc. is escalating job cuts in China to regain market share, with layoffs extending to various departments at its Shanghai plant. The company faces challenges amid a global EV demand slowdown, intense competition, and shrinking market share. Despite layoffs, Tesla secured approval for its driver-assistance system in China.
China’s factory glut alarms the world but there’s no quick fix
Complaints about China's factory overcapacity are growing, but Beijing is hesitant to make changes that could harm its fragile economy. The EU criticized China for overproduction, urging action in the short term. China announced plans to slow expansion in the battery industry, but they are not binding. The country insists its industries are competitive due to innovation, not subsidies, and will continue supporting high-tech sectors despite international pressure. China's surplus production, stemming from a real estate slump, poses challenges.
Tesla sends top executive back to China amid weak sales
Tom Zhu, one of the company's three named executive officers, was promoted to senior vice president of automotive in April 2023, a role in which he oversaw global production, sales, deliveries, service and the company's factories from Tesla's Austin headquarters. He previously had been based in China, heading the carmaker's Asia Pacific operations.
EU ready for 'tough decisions to protect economy', von der Leyen tells China
European Commission President Ursula von der Leyen emphasized the EU's commitment to protecting its economy and security amid strained trade relations with China. Following talks with Chinese President Xi Jinping and French President Emmanuel Macron in Paris, she stated that while fair play from China benefits everyone, Europe will not hesitate to take tough measures to safeguard its economy and security.
China's electric cars keep improving, a worry for rivals elsewhere
Chinese automakers are leading in electric car innovation, introducing larger, technologically advanced models. With plans to launch 71 new battery electric models, features include taller hoods, bigger tires, and spacious interiors. China's advancements in self-driving technology and battery efficiency are reshaping the global automotive landscape, challenging traditional manufacturers.
China’s EV and solar exports are powering ahead as prices slide
All these numbers show why China’s factory capacity has quickly become the key faultline in a polarizing global economy.
In the driver's seat of driverless cars
China has amassed a ferocious pack of EV-makers, led by the world's top producer BYD, that are not only forcing price cuts but are also pushing the envelope on autonomous vehicles. This is helped by the fact that some of its EV-makers such as Huawei started out as smartphone manufacturers and have been quite adept at making cars smarter.
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