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China implemented a 10% additional tariff on US vehicles with engines larger than 2.5 liters, affecting companies like GM, Ford, and Mercedes. This move comes as a response to the Trump administration's tariffs on Chinese goods. While the impact on US car exports to China is relatively small, automakers are already facing challenges in the Chinese market due to a shift towards electric vehicles. The situation remains uncertain as talks between the US and China continue. [Extracted from the article]

In January, China's electric vehicle sales surged due to extended trade-in subsidies, with Geely Automobile Holdings Ltd. and Xpeng Inc. leading the way. Despite trade tensions, BYD Co. saw record sales, while government incentives for new EV purchases also contributed to the strong demand. However, not all EV brands experienced growth, with some, like Aion and Great Wall Motor Co., seeing declines in sales. [Extracted from the article]

SAIC Motor Corp., General Motors Co.'s Chinese partner, anticipates a significant drop in profits for 2024, potentially decreasing by up to 90% due to a writedown of the US carmaker's joint venture in China and intense competition. SAIC's net income for the year could range from 1.5 billion yuan to 1.9 billion yuan, a sharp decline from the previous year. The company's struggles are attributed to China's shift towards electric vehicles, a price war initiated by Tesla Inc. and BYD Co., and GM's decision to restructure and close factories in China. [Extracted from the article]

The article from Bloomberg.com discusses how BYD Co.'s use of supply chain financing has obscured its increasing debt levels, according to GMT Research. The company's true net debt, when adjusted for certain factors, was estimated to be significantly higher than BYD's reported figure. Concerns were raised about the lack of transparency regarding BYD's 'other payables' and the potential risks associated with extended payment periods for suppliers. The article highlights the challenges investors face in understanding the financial intricacies of Chinese EV companies like BYD, Nio Inc., and Xpeng Inc., particularly in relation to supply chain financing practices. [Extracted from the article]

China has renewed a trade-in subsidy program offering up to 20,000 yuan ($2,730) to boost sales of fuel-efficient vehicles, including electric cars and hybrids. The program allows buyers to receive a subsidy when trading in an old car for a new EV or plug-in hybrid, with incentives also available for purchasing gasoline cars with smaller engines. The policy has been successful in promoting consumer spending, with over 3.7 million vehicles purchased under the program last year, contributing to auto sales worth 920 billion yuan ($125 billion). Additionally, the program has been expanded to include home appliances and tech devices to further stimulate the economy. [Extracted from the article]

Shanghai Putailai New Energy Technology Co. has decided to cancel its plans to build a battery factory in Sweden after Northvolt AB's collapse. The termination of the $1.4 billion anode factory project in Sundsvall was due to disagreements between the company and Swedish authorities over various requirements. This development is a setback for Sweden's green ambitions in the region, where the factory was expected to create nearly 2,000 jobs. The Chinese manufacturer, PTL, stated that it will continue to explore opportunities overseas in light of this decision. [Extracted from the article]

Hyundai Motor Co. and BAIC Motor Corp. are planning to invest $1.1 billion into their China joint venture, Beijing Hyundai Motor Co., to accelerate the transition to electric vehicles and increase exports in response to declining sales in China. The capital injection aims to support the venture's short-term stability and long-term growth through investments in new technologies and products tailored to Chinese consumers. However, challenges remain as Hyundai's joint venture has experienced a significant decline in sales, facing competition from domestic EV manufacturers and uncertainties related to trade disputes. [Extracted from the article]

China's largest automobile industry group is advocating for an extension of subsidies for trading in older vehicles to boost domestic car sales amidst a decline in electric vehicle exports. The current vehicle trade-in policy, offering subsidies up to 20,000 yuan, has led to record high auto production and sales. While the Ministry of Commerce is considering a similar program for next year, the future extension remains uncertain. EV exports have been affected by trade tensions, with gasoline cars dominating shipments, while domestic auto wholesales reached a record high, particularly for new energy vehicles. [Extracted from the article]

Volkswagen CEO Oliver Blume emphasized the importance of cost-cutting and a new strategy for China during a speech at Shanghai's Tongji University. The company aims to prioritize local technology and cost competitiveness with its "in China, for China" approach. Facing challenges in China's competitive auto market, Volkswagen plans to introduce over 30 new models by 2030 and focus on developing a more affordable automotive platform for the Chinese market. Through partnerships with local companies, Volkswagen hopes to innovate its vehicle platforms and maintain its position as the top foreign auto brand in China. [Extracted from the article]

The average price of lithium-ion battery packs has dropped by 20% to $115 per kilowatt-hour in 2024, marking the biggest decrease in seven years. This decline is attributed to an overcapacity in cell production, lower metal and component prices, and the shift towards using cheaper lithium iron phosphate batteries. The rapid decrease in prices suggests that electric vehicles could reach price parity with gasoline-powered cars as early as 2026, with China leading the way in achieving this milestone. However, uncertainties related to geopolitics and policy changes may impact the future outlook of electric vehicle adoption and battery pricing. [Extracted from the article]

China's car sales in November saw a significant increase of 18% compared to the previous year, reaching 2.4 million units, with electric cars and hybrids experiencing a 52% surge in deliveries. The growth was attributed to carmakers offering discounts and consumers rushing to take advantage of the government's trade-in subsidy before it expired. Despite the rise in EV and hybrid sales, demand for gasoline cars continued to decline in the competitive market. The government is considering renewing the subsidy program for the following year, and automakers, including Tesla Inc., introduced additional incentives to boost sales. [Extracted from the article]

Electric car manufacturers like Tesla and BYD are offering significant discounts and incentives in China to boost end-of-year sales and meet annual targets. Tesla is providing 0% loans for five years and a discount on its Model Y SUV, while BYD is offering discounts on select models. Various companies, including Stellantis NV's partner Zhejiang Leapmotor Technology Co. and Xiaomi Corp., are either exceeding or adjusting their sales targets for the year. However, some companies like Zhejiang Geely Holding Group Co.'s Zeekr and Li Auto Inc. are still striving to reach their annual sales goals and are offering additional incentives to attract customers. [Extracted from the article]

Pony AI Inc., a self-driving technology firm, is expanding its supply chain and exploring international markets beyond the US to mitigate geopolitical risks amid tensions between Beijing and Washington. The company, which recently went public on the Nasdaq, operates autonomous vehicles primarily in Chinese cities like Beijing and Shenzhen. In response to potential export restrictions on semiconductor equipment and AI memory chips, Pony AI plans to diversify its supply chain and focus on markets in South Korea, Singapore, and the Middle East. [Extracted from the article]

Hesai Group, a Chinese company, is the world's largest producer of lidar sensors for driver assistance systems. Despite geopolitical challenges, the company's revenue and shipments have been steadily increasing, with a forecast of further growth. Hesai's CEO emphasizes the importance of lidar technology in improving vehicle safety and sees potential for widespread adoption in the future. The company is also working to reduce the price of its products and is challenging its inclusion on a US blacklist. [Extracted from the article]

Hesai Group, a leading lidar sensor manufacturer in China, is experiencing significant growth despite geopolitical challenges. The company's shares surged after reporting a 21% increase in revenue and projecting further growth. Lidar technology, crucial for autonomous vehicles, is seen as a life-saving device by Hesai's CEO, David Li. While some, like Elon Musk, prefer other technologies, many in the auto industry believe lidar enhances safety. Hesai is actively challenging its inclusion on a US blacklist, asserting its sensors pose no security or privacy risks. [Extracted from the article]

Nio Inc. reported lower-than-expected revenue due to a price war in China's electric vehicle market, with a 4.4 billion yuan adjusted net loss. The company faces competition from hybrid vehicle makers, as it focuses solely on battery electric cars. Nio plans to introduce new models to boost sales, aiming to break even in 2026. [Extracted from the article]

Nio Inc., a Chinese premium electric-car maker, reported lower-than-expected revenue and a larger loss due to a price war in the EV market. Despite delivering a record number of cars, revenue fell short of analyst estimates, with a slight decrease in vehicle sales revenue. The company aims to improve financial performance with new models and plans to deliver fewer vehicles this quarter than analysts projected. Nio faces challenges in the competitive EV market, with rivals developing extended-range EVs and hybrid vehicles, while Nio remains committed to producing only battery electric cars. [Extracted from the article]

Xpeng Inc., a Chinese electric vehicle manufacturer, exceeded analyst expectations in the third quarter of 2024, reporting a narrower loss and increased revenue due to the success of new models. The company's gross margin reached a historical high of 15.3%, with strong sales and delivery numbers. Xpeng's collaboration with Volkswagen AG has also contributed to its income growth, with a focus on developing electrical architecture for locally produced vehicles. [Extracted from the article]

Xpeng Inc. saw its shares decline due to concerns about lower selling prices at the end of the year, overshadowing the company's narrower net loss and increased revenue in the third quarter. The Chinese electric vehicle-maker's gross margin hit 15%, the highest since listing in the US in 2020. Xpeng's upcoming range-extended vehicles, like the Kunpeng platform, are expected to attract consumers in markets with limited charging infrastructure, with the company aiming to break even next year. The company's collaboration with Volkswagen AG has also contributed to its income growth from services. [Extracted from the article]

Chinese electric vehicle manufacturers are focusing on self-driving technology to compete with Tesla, which plans to introduce full self-driving capabilities in China soon. Companies like Xiaomi and Geely are developing advanced driving-assistance services inspired by Tesla's technology. Despite concerns about safety and reliability, the industry sees autonomous driving as the future of mobility and is racing to innovate in this field. Chinese engineers are confident in their ability to develop competitive technology, with companies like Baidu and Jidu Auto pushing the boundaries of AI in their electric vehicles. Other manufacturers like Xpeng, Li Auto, and Great Wall Motor are also unveiling intelligent driving offerings at the Guangzhou auto show. [Extracted from the article]

Geely Holding Group, overseen by Chinese billionaire Li Shufu, is streamlining its portfolio of electric vehicle brands by combining Zeekr Intelligent Technology Holding Ltd. with Lynk & Co. The integration aims to reduce cross-competition within the group and focus on the transition towards electric, intelligent, and connected vehicles. This move follows Geely Automobile Holdings Ltd.'s strong financial performance, with net income nearly doubling in the last quarter. Li Shufu's strategic realignment, as outlined in the Taizhou Declaration, signals a shift towards a more cohesive and efficient EV empire. [Extracted from the article]

Geely Holding Group Co. plans to integrate its electric vehicle brand Zeekr with smart car marque Lynk & Co. to streamline costs and eliminate duplication. The two brands will pool resources such as research and development, with Zeekr's CEO leading the transition. Geely's move comes as it faces competition from domestic rivals like BYD Co. and Tesla Inc., and aims to focus on electric, intelligent, and connected vehicles as part of a strategic realignment. [Extracted from the article]

Geely Automobile Holdings Ltd., led by billionaire Li Shufu, saw a significant increase in net income and revenue in the third quarter, driven by strong sales of electric vehicles and hybrids. The company sold 1.72 million vehicles by October, nearing its annual target of 2 million cars. Despite facing challenges such as trade measures and tariffs in international markets, Geely's share price has risen by 64% this year, outperforming the Hang Seng Index. [Extracted from the article]

Geely, a Chinese conglomerate, is in advanced talks to acquire a majority stake in Germany's Volocopter Gmbh, a flying taxi startup, in a deal that could prevent the company from bankruptcy. The potential deal would involve Geely leading a consortium to inject $95 million in exchange for roughly 85% ownership of Volocopter, significantly reducing the startup's valuation. Volocopter's financial struggles highlight the challenges faced by startups in the flying car industry, with the Chinese government prioritizing the development of such technologies. The deal is still under negotiation, and Volocopter is considering moving its manufacturing to China if the acquisition goes through. [Extracted from the article]

In October, Tesla Inc.'s shipments from its Shanghai factory decreased by 5.3% year-on-year, with 68,280 Model 3 sedans and Model Y SUVs delivered. This decline follows a record quarter for China shipments at the company. The competition in China's EV market is intensifying, with Tesla facing challenges from local companies like BYD, which surpassed Tesla in revenue in the third quarter. To meet its annual sales growth target, Tesla will need to sell at least 515,000 EVs globally in the last quarter of 2024. [Extracted from the article]

In October, Tesla Inc.'s shipments from its Shanghai factory decreased by 5.3% compared to the previous year, following a strong quarter for China deliveries. The company shipped 68,280 Model 3 sedans and Model Y SUVs, marking a 23% decline from September. Despite facing competition from local companies like BYD Co., Tesla remains more profitable, with a net income of $2.2 billion in the third quarter. Overall, retail passenger vehicle sales in China are expected to increase by 8.2% year-on-year in October, with new-energy car sales projected to rise by 58% from the previous year. [Extracted from the article]

Chinese automakers are looking to expand their overseas manufacturing capacity to avoid import tariffs and meet growing demand in emerging markets. While exports and knockdown assembly have been common strategies, investments in full-process manufacturing are increasing due to tariff pressures. Chinese carmakers are planning to more than double their overseas production capacity to 2.7 million units by 2026, with popular locations including Thailand, Indonesia, Brazil, and Europe. The surge in overseas investments has raised concerns in Beijing about protecting EV know-how and being cautious in countries with geopolitical risks. [Extracted from the article]

Chinese automakers are looking to double their overseas full-process manufacturing capacity to avoid import tariffs and meet growing demand in emerging markets. This shift is driven by the saturation of the electric vehicle market in China, leading domestic brands to seek new growth opportunities abroad. Companies like BYD Co. and Chery Automobile Co. are expanding their production facilities in countries like Thailand, Indonesia, Brazil, and Europe, while also exploring opportunities in Southeast and Central Asia, Latin America, and the Middle East. The growth of full-process manufacturing is outpacing knockdown assembly, prompting concerns from Beijing about protecting EV know-how and navigating geopolitical risks in overseas investments. [Extracted from the article]

A senior Volkswagen AG executive in China, Jochen Sengpiehl, was deported to Germany after being detained over alleged drug use in Thailand. The incident occurred amidst escalating trade tensions between Brussels and Beijing, with China having a zero-tolerance policy towards drug use. Sengpiehl's deportation may impact VW's sales in China, a crucial market where the automaker has been facing fierce competition and a sales slump. [Extracted from the article]

The article discusses the innovative features introduced by Chinese electric vehicle makers, such as in-car karaoke and gaming consoles. However, a recent promotional video by Zhejiang Geely Holding Group Co.'s Zeekr brand showcasing a hotpot meal being enjoyed in a car has sparked debate on social media. While some view it as a marketing gimmick, others see it as a fun addition for outdoor activities. The article also highlights the potential risks associated with some car gimmicks, such as a deadly accident involving a tent on a Great Wall Motor Co. pickup truck. [Extracted from the article]

China's Ministry of State Security accused an overseas firm and a local company of illegally collecting geographic data for smart driving technology without naming the companies involved. The foreign entity hired a local qualified map maker to collect the data and transfer it out of China, but much of the data was found to contain state secrets and was leaked due to the Chinese company's failure to comply with industry requirements. Various companies, including Tesla Inc. and Mobileye Global Inc., denied involvement and emphasized their compliance with China's regulations. The lack of disclosure of the companies' identities led to speculation on Chinese social media, prompting calls for transparency to prevent harassment of legally operating companies. [Extracted from the article]

Chinese space startups are struggling to catch up to Elon Musk's SpaceX in the space industry. While Chinese companies have made significant progress in industries like electric cars and solar panels, they have fallen behind in rocket and satellite manufacturing. SpaceX operates thousands of satellites and has pioneered reusable rocket technology, while Chinese companies still rely on single-use rockets with older technology. The Chinese government is providing more support to its space industry, including assistance in developing reusable rockets and expanding orbital communications networks. However, the government is unlikely to entrust the task of building low-Earth orbit constellations to startups, as it is considered a critical piece of national infrastructure. Despite the challenges, experts believe that Chinese startups will play a bigger role in the space industry in the future. [Extracted from the article]

Tesla Inc. had its best-ever quarter for shipments in China, with around 88,321 Model 3 sedans and Model Y sport utility vehicles delivered in September, a 19% increase compared to the same time last year. This brought the total for the third quarter to 249,135, surpassing the previous peak in the last quarter of 2023. However, Tesla's global third-quarter deliveries of 462,890 vehicles fell short of some analysts' expectations. The increase in China sales was attributed to a government subsidy encouraging drivers to trade in old cars for new electric vehicles, and Tesla's Shanghai plant also celebrated its 1 millionth export last month. [Extracted from the article]

China's stimulus package has led to a surge in electric vehicle (EV) sales during the National Day holiday, with one manufacturer calling it the "best Golden Week in many years." General Motors' joint venture with SAIC Motor Corp. and Wuling Motors Holdings Ltd. reported record sales, while Zhejiang Leapmotor Technology Co. received a record 17,000 orders in the first week of October. Road trips have become popular during the holiday, with an estimated 80% of Chinese travelers choosing to drive. However, the increase in EV usage has led to long queues at charging stations and traffic jams. [Extracted from the article]

Chinese automaker Xpeng is considering various options in Europe to localize production and avoid tariffs imposed by the European Union on electric vehicles made in China. Xpeng's Vice Chairman and Co-President, Brian Gu, mentioned that they are exploring options such as contract manufacturing, working with existing plants, or even establishing new plants. The European Union member states are set to vote on imposing tariffs as high as 45% on imported Chinese EVs, which German automakers, including Xpeng's partner Volkswagen, have opposed due to potential sales threats in China. Xpeng is also focusing on becoming more local in Europe to cater to the preferences of European buyers. The company is expanding its sales to around 40 countries, including in Europe, the Middle East, and Southeast Asia. Xpeng recently achieved record monthly sales and is partnering with Volkswagen to offset losses. However, the US market remains challenging for Chinese carmakers due to punitive tariffs and evolving policies. [Extracted from the article]

The auction for Fiat Chrysler's jointly run auto factory in Southern China has failed for the third time, despite a significant price reduction. The lack of demand for internal combustion engines in China's rapidly transitioning market is believed to be the cause. The factory, previously operated by Fiat Chrysler and Guangzhou Automobile Group, filed for bankruptcy in 2022 after experiencing declining sales. Other foreign automakers are also reassessing their strategies in response to China's shift towards electric vehicles. [Extracted from the article]

Chinese automaker BYD Co. has acquired the remaining 10% of shares in its joint venture with Mercedes-Benz Group AG, which was established to market the Denza premium electric vehicle brand. This move comes as foreign carmakers are reducing their exposure to the Chinese auto market. The partnership between BYD and Mercedes-Benz lasted for 13 years, but poor sales led to Mercedes-Benz reducing its stake to 10% in 2021. Denza has recently found success with its luxury people mover vans, and it is set to launch its Z9GT model later this week. [Extracted from the article]

China has advised its carmakers to keep advanced electric vehicle (EV) technology within the country, even as they expand their factories globally to avoid tariffs on Chinese exports. The Chinese government is encouraging automakers to export "knock-down kits" to their foreign plants, where key parts of the vehicles would be produced domestically and then assembled in the destination market. The Ministry of Commerce has also instructed automakers not to make any auto-related investments in India and to notify the ministry and the Chinese embassy in Turkey before investing in Turkey. This directive could hinder Chinese carmakers' efforts to globalize and may impact European nations hoping to attract Chinese automakers. [Extracted from the article]

Honda Motor Co. is cutting jobs and suspending production at three of its plants in China in an effort to reduce inventories and shift towards electric vehicles. The company has offered redundancy packages to over 2,000 workers at its joint venture with Dongfeng Motor Group Co. The move comes as the automobile industry faces challenges in the Chinese market due to the rapid transition towards electric vehicles and intense competition. Honda's sales in China have dropped by 21.48% in the first half of 2024. [Extracted from the article]

China's economic planning agency is launching a nationwide test of vehicle-to-grid (V2G) charging to explore if the country's large fleet of electric cars can help balance electricity supply and demand. The trial will require each province to nominate one city to establish a V2G system, where electric cars can feed power back into the grid during periods of high demand. The aim is to expand V2G projects and develop commercial models that can be replicated. The initiative is in response to the growing number of electric vehicles in China, which can strain the power grid if not managed properly. [Extracted from the article]

Tesla Inc. plans to release its Full Self Driving (FSD) technology in China and Europe in the first quarter of next year, pending regulatory approvals. The company aims to gain permission from authorities in these regions to boost sales and stay ahead of Chinese rivals who are also developing similar driver assistance systems. While FSD has faced scrutiny in the US, Tesla CEO Elon Musk expects the system to be approved in Europe, China, and other countries by the end of this year. If approved, FSD could help Tesla maintain its market share in China, where competition is increasing. [Extracted from the article]

Jeep has announced that it will resume production of its Wrangler and Grand Cherokee SUVs in the US after a period of suspension. The Wall Street Journal had previously reported that production of these models had been halted, but Jeep's parent company, Stellantis NV, confirmed that production will resume on September 5th. Stellantis stated that it is taking necessary actions to improve operations in the US market and will continue to monitor the situation. This production suspension comes as Stellantis faces declining sales and high inventory levels. [Extracted from the article]

Sales of electric and hybrid vehicles in China have surpassed those of conventional gasoline cars for the second consecutive month. Preliminary data from China's Passenger Car Association shows that sales of electric and plug-in hybrid vehicles increased by 42% year-on-year to over a million units in August. Overall vehicle shipments, however, decreased by 1% to 1.9 million units. The surge in electric vehicle sales can be attributed to the government's decision to double subsidies for trading in old vehicles, benefiting companies like BYD Co., Zhejiang Leapmotor Technologies Ltd., and Zeekr. [Extracted from the article]

Geely Automobile Holdings Ltd. has unveiled its first compact electric vehicle, called Xingyuan, to compete with BYD Co.'s Seagull and Dolphin models in China's entry-level segment. The Xingyuan targets young, first-time car buyers and offers features like a touch-screen dashboard and wireless mobile charging. Geely faces competition from other companies like Great Wall Motor Co. and General Motors Co.'s joint venture with SAIC Motor Corp. and Wuling Motors Holdings Ltd. To attract customers, Geely has partnered with Haagen-Dazs to offer free ice cream during test drives. Experts predict that the competition will benefit Chinese consumers. [Extracted from the article]

Tesla Inc. saw an increase in vehicle shipments from its Shanghai factory in August, marking the second consecutive month of growth. This growth can be attributed to China's government doubling a subsidy that encourages drivers to trade in older cars for electric models. Preliminary data shows that Tesla shipped around 86,697 Model 3 sedans and Model Y sport utility vehicles, a 3% increase from the previous year. The Chinese plug-in vehicle market as a whole also experienced growth, with a 32% increase in electric and hybrid vehicle wholesales compared to the previous year. [Extracted from the article]