WESTERN AUTOMAKERS
EU governments hesitant on Chinese EV tariffs as trade spat escalates
Germany, whose carmakers made a third of their sales last year in China, wants to stop the tariffs, according to a government source, while France has been among the firmest backers.
EU governments waver over Chinese EV tariffs as trade spat escalates
EU countries debate supporting tariffs on Chinese electric vehicles in Brussels amid concerns over Beijing's possible retaliation affecting EU exports like cognac and pork.
Renault's EV unit Ampere teams up with LGES, CATL on battery technology
The company also pledged to work towards the development of so-called cell-to-pack battery solutions aimed at boosting the range of its EVs, together with South Korea's LGES. In a separate statement, LGES said early on Tuesday it had signed a deal to supply 39 gigawatt hours of LFP pouch-type batteries to Renault to power about 590,000 vehicles, adding the battery cells would be produced in Poland.
Hyundai India IPO banks set for country's 2nd biggest payday with $40 million fee: Report
The evolving financial landscape in India, characterized by the Hyundai India IPO and the rise in private company IPOs, presents significant opportunities for financial institutions like Nomura and Jefferies Financial Group to capitalize on the flourishing market and drive investment banking fees to new heights.
Canada considers imposing import tariffs on Chinese EVs
Canada is considering imposing import tariffs on Chinese-made electric vehicles (EVs). Deputy Prime Minister Chrystia Freeland stated on Monday that the government will seek the public's opinion on the matter starting July 2.
The secret behind Chinese EV industry's rise: $231 billion in 15 years
China's EV industry received $231 billion in government subsidies and aid from 2009 to 2022. Support per vehicle decreased, with sales tax exemptions being over half the total. Research suggests EU and US tariff responses. EV quality is improving, challenging global automakers.
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Canada prepares potential tariffs on Chinese EVs after US and EU moves
Canada prepares new tariffs on Chinese electric vehicles to align with US and EU actions. Pressure on Trudeau to follow Biden's lead. Concerns over China's overproduction of EVs. Ontario Premier calls for matching tariffs to protect Canadian jobs.
Western rare earths supply chain springs into gear
Global supply chains are diversifying away from China for rare earths used in products like electric vehicles and wind turbines. Companies are building facilities to reduce the West's dependence on Chinese imports.
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.
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.
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.
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.
'It is desolate': China's glut of unused car factories
The facility, a former assembly plant and engine factory, had been a joint venture of a Chinese company and Hyundai, the South Korean giant. The complex opened in 2017 with robots and other equipment to make gasoline-powered cars. Hyundai sold the campus late last year for a fraction of the $1.1 billion it took to build and equip it. Unmown grass at the site has grown knee high.
China is charging ahead with EVs. Why is the world worried?
Concerns over China's EV dominance in Western markets are rising, with Chinese automakers like BYD offering cheap electric vehicles that undercut Western prices, leading to fears of a future market takeover. The threat of Chinese EVs has prompted global automakers to join forces and consider manufacturing partnerships to stay competitive.
Buy local chips, China urges EV makers as US clash deepens
Chinese government urges EV manufacturers to boost local chip purchases through Ministry of Industry, aiming to reduce reliance on Western imports. Tender processes show preference for local suppliers even with lower price offers from foreign bidders. The ministry is now directly instructing firms to avoid foreign semiconductors if at all possible, said the people, who asked to remain anonymous discussing sensitive information.
Automakers' drive to avoid China's EV rare earth dominance gathers speed
Automakers have mostly relied on motors with rare earth-based permanent magnets, which have been the most efficient at providing the torque to power EVs.
China poses another threat to the West, this time aimed at automakers
Chinese electric vehicle (EV) manufacturers are expected to almost double their global market share to 33% by the end of the decade, causing Western automakers to lose a fifth of their market share, according to UBS Group AG analysts. Chinese automakers, led by BYD Co., have a cost advantage over North American and European brands, allowing them to undercut rivals.
A Supplier of Rare Earth Metals Turns to Greenland in a Bid to Cut Reliance on Russia
Rare earth metals are essential for the manufacture of a broad range of modern products, including electric car motors, offshore wind turbines and smart bombs. Demand has soared as automakers switch more of their production to electric vehicles.
Carmakers face soaring metal costs with Russian supplies at risk
While metals have not been the target of Western sanctions yet, some shippers and autoparts suppliers are already steering clear of Russian goods, putting more pressure on carmakers already reeling from a chip shortage and higher energy prices.
In China, global automakers seek clarity from a more ambitious regulator
China is now coming to the forefront of EV regulation. That's a natural consequence of its sheer market size - it accounted for roughly 40% of all electric vehicles sold worldwide in 2020 - as well as part of broad conscious efforts by Chinese authorities to start taking the lead in international standards across a range of industries.
Ex-Nissan executive says automaker sought to hide Carlos Ghosn's pay
"Carlos Ghosn is a world-class business leader and CEO," said Toshiyuki Shiga, testifying at the trial of his former colleague Greg Kelly, charged with under-reporting Ghosn's compensation.
Automakers pin demand hopes on festive season, govt intervention
Passenger vehicle sales are making a slow but steady come back. But the market share positions of automakers are in a flux.
Despite fresh lockdown measures in Pune, factories continue to ramp up to meet demand
The lockdown in Pune and Pimpri Chinchwad region has excluded the industrial belt of MIDC. Factories have been permitted to continue operations as before.
Japanese shares track Wall St drop; banks, automakers lead declines
The benchmark Nikkei average ended 1.3 per cent lower at 19,290.20.
Russia's Avtovaz plans new ultra-cheap car: Renault
Russian auto maker Avtovaz will launch a new ultra-cheap model of its Lada car next year, selling for 5,600 euros, its French partner company Renault said on Friday.
VW, Fiat, Peugeot optimistic on 2010 after slump
The top European automakers, led by Germany's Volkswagen, looked ahead confidently on Wednesday, putting the industry's miserable, loss-making 2009 firmly behind them.
Fiat hits 10 pc market share in Western Europe
The Italian automaker Fiat, which has reached a deal for a stake Chrysler and is in talks to take on GM's European operations, defied a contracting market for the second straight month, increasing its European sales in April by 5%.
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