VOLKSWAGEN CHINA
Europe is slapping tariffs on Chinese electric vehicles - for now. Here's what to know
EU raises customs duties on Chinese electric vehicles due to unfair subsidies. Tariffs aim to address market imbalance. Negotiations ongoing between EU and China. Concerns about impact on European jobs and green technology production. Uncertainty looms over potential solutions and retaliatory measures.
Germany stops planned sale of Volkswagen's gas turbine business to China
Germany's cabinet blocked the sale of MAN Energy Solutions' gas turbine business to a Chinese company for security reasons amid EU-China trade tensions. Concerns over national security implications led to the decision, with fears that China could use the turbines for military purposes. Both Germany and the EU aim to reduce risks from economic ties with Beijing. China opposes the politicization of business cooperation and hopes for a fair business environment.
Skoda eyeing local equity partnership amid electric shift
Skoda Auto Volkswagen India is making progress in equity partnership talks with an Indian company to share costs and risks. While open to continuing solo, Skoda sees value in local collaboration amid government EV pushes and stricter emissions regulations. Future investments depend on this decision.
Explainer: What's behind Volkswagen's USD 5 billion EV software bet on Rivian?
The tie-up is the latest in a string of deals by Volkswagen Chief Executive Oliver Blume, who took over in September 2022 after the ousting of Herbert Diess. Shifting from combustion engine to electric cars requires expertise in areas where historically Volkswagen has little experience, from charging to batteries to software.
‘Father’ of China EV industry calls for investment talks with EU
The panic coming from the EU is caused partly by the fact that Chinese foreign investment hasn’t kept up with the pace of exports, Wan Gang said. One way to improve relations would be to resume talks on the Comprehensive Agreement on Investment, he said.
China and European Union agree to talks in bid to head off trade war
China and the European Union have decided to initiate talks aimed at resolving an increasingly tense tariff dispute, with billions of dollars in trade hanging in the balance. According to the Chinese Commerce Ministry, discussions will be held between China's commerce minister, Wang Wentao, and the European Union's trade commissioner, Valdis Dombrovskis. The focus will be on addressing the European Union's proposal to impose tariffs on electric cars imported from China, a move that has sparked significant concern.
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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.
German deputy leader visits China to manage fears of trade war with EU
Robert Habeck, who has personally spoken out against punitive tariffs as a last resort, took with him a low-key business delegation and will address trade relations while also pressing China on hot-button issues like Russia's war in Ukraine.
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.
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.
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.
Europe wants affordable electric vehicles from China. But not at the cost of its own auto industry
The European Union plans to increase tariffs on Chinese-made electric vehicles due to unfair subsidies. This move aims to address the surge in Chinese EV exports to Europe, posing a threat to EU manufacturers and green tech industries.
US lawmakers call to add China's CATL, Gotion to import ban list, WSJ reports
Republican lawmakers are urging the addition of Chinese battery companies CATL and Gotion High Tech to an import ban list, alleging their supply chains use forced labor. CATL and Gotion are linked to Ford and Volkswagen respectively. The lawmakers want them added to the entity list under the Uyghur Forced Labor Prevention Act, which restricts imports tied to alleged genocide in China's Xinjiang region. CATL and Gotion deny the allegations. Volkswagen says it has no evidence of human rights violations.
How China's EV makers aim to beat Tesla, legacy automakers in Europe
Chinese EV titans BYD, Chery and Great Wall Motor (GWM) are preparing a fusillade of product launches - about 20 over the next five years - and spending heavily on sales and marketing in their most important export market.
Volkswagen plans cheaper battery model 'from Europe for Europe'
Volkswagen has announced plans for a cheaper electric model, priced around 20,000 euros ($21,800), to be introduced in 2027. The model will offer entry-level electric mobility from Europe for Europe. Volkswagen also plans to unveil a range of battery-powered cars for under 25,000 euros by the end of 2025, including two compact cars from its VW and Cupra brands, as well as two small SUVs from VW and Skoda.
Slowing EV sales are upending banker climate strategies
The global electric vehicle market faces challenges as China leads in EV development, impacting sales in Europe and US. Policy interventions are expected due to China's dominance and US tariff increases on Chinese imports.
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.
EU tariffs on Chinese EVs could backfire, German car bosses warn
The European Commission, which oversees trade policy in the 27-nation European Union, launched an investigation in October into whether fully-electric cars manufactured in China were receiving distortive subsidies and warranted extra tariffs.
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.
Nissan says it will make next-generation EV batteries by 2028
Solid-state batteries, which replace the corrosive liquids found in conventional batteries with solid metals, are widely seen as the next step for EVs, and leading automakers are racing to develop versions that can be mass produced. Rivals like Volkswagen and Toyota have also announced efforts to produce solid-state EVs, with Toyota setting a date of 2027-28 to begin bringing them to market.
5% GST benefit should only be for smaller EVs; don't extend it to bigger cars: Skoda Auto India
If the said benefit is extended to all EVs -- including bigger and expensive ones -- it will put the exchequer and govt finances under pressure, the report quoted Petr Janeba, the brand director for Skoda in India, as saying.
BYD takes fight to EV laggards with China price cuts
Data from car portal 16888.com analysed by Bloomberg shows BYD has cut prices of more than 100 model versions compared with December, and relaunched a further 70 model trims with lower prices. About the only unaffected models come from its launched Yangwang brand, including its newly unveiled supercar, which goes for 1.68 million yuan ($233,000).
'Money and roads' make Volkswagen think premium for India
Mayer, who is on his first visit to India after assuming charge of international sales at the headquarters, said he was "pleasantly surprised" at the changes here. "The growth is impressive. People have the spending power. And it is not just smaller, cheaper cars that people are buying but the bigger and premium vehicles. Infrastructure has improved. People are taking more road trips. There is another use case today for buying more premium vehicles to travel comfortably with families," Mayer said.
Volkswagen to bring more premium vehicles to India
India has surpassed Japan to emerge as the third largest vehicle market in the world, a feat which no one would have thought possible a decade back, Volkswagen’s executive director, international sales, Michael Mayer, said.
MNCs in China rethink their Xinjiang connect
The Chinese government has strongly opposed any move by multinational corporations to distance themselves from commercial activity in Xinjiang, a sparsely populated region.
Volkswagen creates AI lab, in talks with potential partners for digital prototypes
The company has founded a new 'artificial intelligence lab' to generate new product ideas, including possible cooperation with companies in the technology sector across China, North America and Europe, it said in a statement.
Why Volkswagen is building a team of 3,000 engineers in China
Volkswagen is revamping its strategy in China, creating a "China for China" initiative due to the country's dominance in the electric car market. The move includes hiring Chinese engineers, setting up an electric car plant in Hefei, and replacing European suppliers with Chinese ones. This shift, driven by China's EV growth and cost-effective production, impacts job cuts in Germany and shapes a competitive landscape challenging traditional carmakers.
Global EV sales stay strong, China hits record despite end of subsidies
China ended an 11-year subsidy scheme for EV purchases in 2022, but some local authorities have continued to offer aid or tax rebates to attract investments as well as subsidies for consumers.
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