Two electrifying moves in recent weeks have the potential to ignite electric vehicle demand in the United States. First, Congress passed the Inflation Reduction Act, expanding federal tax rebates for EV purchases. Then California approved rules to ban the sale… Read More ›
A “Pony Car” built and sold in China? You betcha, and, it will be an EV too. Henry Ford, a staunch anti-communist, is probably rolling in his grave, but it now appears that the Mustang Mach-E is getting a stable across the… Read More ›
German car giant Volkswagen on Monday announced a fresh 15 billion euro (US$17.5 billion) splurge on China’s vast electric vehicle potential. Global carmakers are pegging hopes on an increasingly electric future with China at the forefront as a customer base… Read More ›
Car sales in China continued to decline in November, extending a historic slump and all but ensuring a second straight annual drop for the world’s biggest auto market. Sales of sedans, sport utility vehicles, minivans and multipurpose vehicles fell 4.2%… Read More ›
China’s Industry Ministry has placed Chinese-built Tesla Inc. Model 3 cars on a list of vehicles recommended to receive subsidies for new energy vehicles, according to a document published on Friday. It was not immediately what level of subsidy China… Read More ›
It’s “inevitable” that China’s electric cars have little resale value and some are inherently worth little, according to one of China’s top auto industry bodies. In its latest weekly update on China’s ailing auto market, the China Passenger Car Association… Read More ›
The launch of Tesla’s first factory in China is likely to come at a difficult time for auto companies in the world’s largest passenger-vehicle market. The electric-car maker is building a factory in Shanghai that it expects to begin producing… Read More ›
Shares of Chinese electric car manufacturer Nio extended their two-day decline to as much as 30%, dipping more than 21% on Tuesday alone. The skid comes after the company reported a wider-than-expected loss for the second quarter and announced thousands of… Read More ›
The Chinese auto market is crashing. Data from the Chinese Association of Auto Manufacturers show the passenger car market there contracted 6.9% in August and has fallen 11.0% for the year-to-date period. August 2019 marked the 14th consecutive decline for… Read More ›
Generous government subsidies have been behind China taking the lion’s share of global electric vehicle sales in recent years — but now they’re being called to question and face another scandal. A panel of experts raised the flag over this… Read More ›
President Donald Trump scolded General Motors on Friday for shifting car production to China, despite getting a taxpayer bailout. “They moved major plants to China, BEFORE I CAME INTO OFFICE,” Trump wrote on Twitter. “This was done despite the saving… Read More ›
China’s electric vehicle (EV) industry has been booming for nearly a decade, with generous subsidies from the Chinese government and state-sponsored marketing efforts. However, the research and development (R&D) subsidies are now shifting to vehicles with hydrogen fuel cells, a… Read More ›
BYD is a mainland Chinese company, specialising in green technologies. Shares in the company are traded on the mainland in Shenzhen and off-shore in Hong Kong. The company is controlled by the co-founders. Berkshire Hathaway, Warren Buffett’s holding company, owned… Read More ›
The German company Daimller AG announced plans to build in China the largest factory in the world. The manufacturer of Mercedes hopes to conquer the rapidly growing automotive market in “the Middle Kingdom.” The new facility, which will cost about… Read More ›
A wealthy Chinese Maserati owner hired four sledgehammer-wielding men to smash-up his $420,000 super car in protest at poor customer service. The car owner, identified as Wang, had the group attack the Maserati Quattroporte at the opening of an auto show in… Read More ›
Forget panda diplomacy. China has added a new weapon to its soft-power arsenal – home-grown luxury cars. On Friday, May 3, 2013, Beijing donated 20 Chinese-made Hongqi, or Red Flag, sedans worth around $2.3 million, to the Pacific nation of… Read More ›
China’s quality watchdog told Volkswagen AG (VOW) to recall vehicles fitted with the direct-shift gearbox system, after Europe’s biggest carmaker was targeted at China Central Television’s (CCTV) annual consumer-rights day program. The program targeted several western companies, raising considerable criticism of CCTV from China’s… Read More ›
General Motors, the largest foreign automaker in China, will increase the number of Cadillac dealerships in the country by about 25 percent as it competes against German luxury automakers led by Volkswagen AG’s Audi. The Detroit-based company will add about 40 dealers… Read More ›
Some mistakes are understandable. Others seem to defy explanation. Earlier this week, two leading Chinese car companies, Great Wall Motor and Chery Automobile, confirmed they are recalling 23,000 cars and trucks they’ve sold in Australia because asbestos was discovered in… Read More ›
Australia’s consumer protection agency said asbestos was found inside vehicles made by China’s Great Wall Motor Co. and Chery Automobile Co., prompting a safety investigation and the recall of about 23,000 units. Customs and border officers found the banned fibre… Read More ›
Volkswagen elevated China‘s status within its sprawling empire and reasserted control over its wayward trucks brands with an extensive overhaul of senior management on Saturday as it bids for global market dominance. The company created a management board position dedicated… Read More ›
China sales by Japan‘s Toyota Motor Corp and its two local joint-venture partners rose 68 percent in April from a year earlier to about 81,700 vehicles, according to a company spokesman. For the first four months of the year, the… Read More ›
China’s massive car market may still be young, but the auto industry CEOs descending on Beijing this week will see first hand that it’s also growing up fast. The Beijing auto show starts on Monday at a time when China’s… Read More ›
Ford announced its biggest industrial expansion in 50 years, as part of a US$5 billion plan to double production capacity in China by 2015, The Wall Street Journal reported. The automaker expects to be able to create 1.2 million passenger… Read More ›
Volvo, a Swedish automaker owned by China’s Zhejiang Geely Holding Group, announced Thursday that it plans to spend US$11 bilion on developing new products and increasing manufacturing in the coming few years, Reuters reported, citing an article by German magazine Wirtschaftswoche. Volvo… Read More ›
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