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China's riddle: How can EV sales soar while profits shrink?
Yang Jian | 2017/10/20

How can your profits plunge while your EV sales soar?  Jianghuai Automobile Co.¡¯s management is doubtless pondering that riddle.  The state-owned company attracted lots of media attention last year when it abruptly transformed itself from truckmaker to EV producer.  Success seemed assured after JAC formed a partnership with Volkswagen to produce EVs. Alas, it has ended in tears. Pictured: Yang Jian is managing editor of Automotive News China.
>> Read Full Commentary

  VW Group deliveries rise in September
Automotive News China | 2017/10/20

Volkswagen Group said deliveries of its various brands rose 6.3 percent year on year in September to 406,500 vehicles on strong demand for its crossovers.  The German automaker gained market share in September as industry light-vehicle sales rose 3.3 percent.
>> Read Full Story

  Changan to stop selling vehicles powered by fossil fuels in 2025
Reuters | 2017/10/20

BEIJING -- Chongqing Changan Automobile plans to stop developing and selling light vehicles powered by fossil fuels, starting in 2025, and invest more than 100 billion yuan ($15.10 billion) by that time to advance its "new energy strategy." Chongqing Changan is one of the first Chinese companies to commit to a total phase-out of gasoline-engine vehicles in favor of EVs.
>> Read Full Story

  Great Wall sales climb 4.5% on demand for pickups, crossovers
Automotive News China | 2017/10/20

Great Wall Motor Co., China's largest crossover maker, said deliveries increased 4.5 percent year on year to 102,037 vehicles in September, its third straight month of rising sales.  The company enjoyed strong pickup sales, which jumped 39 percent to 11,317 vehicles. 
>> Read Full Story

  Tesla to rework vehicles to meet Chinese charging standards
Bloomberg | 2017/10/20

Tesla Inc.¡¯s Model S and Model X vehicles sold in China starting in November will have recharging ports that comply with local standards, as CEO Elon Musk steps up efforts to establish a niche in the world¡¯s largest electric vehicle market.
>> Read Full Story

  Alfa Romeo, Maserati cut production after China slowdown
Automotive News Europe | 2017/10/20

Fiat Chrysler Automobiles has cut production at Italian assembly plants that produce vehicles for Alfa Romeo and Maserati after new Chinese import rules hurt sales, according to union sources.  Sales of Alfa Romeo and Maserati vehicles have fallen significantly in China since authorities introduced rules governing relationships between dealers and carmakers, FCA told unions. 
>> Read Full Story

  Volvo's Polestar EV brand debuts in China with coupe
Automotive News | 2017/10/20

Volvo Car Corp.¡¯s Polestar brand debuted this week as a stand-alone electrified vehicle marque with the unveiling of its first model, the Polestar 1.  The hybrid coupe boasts a range of 93 miles on a full charge, 600 hp and 738 pounds-feet of torque. Polestar plans to begin production in two years. 
>> Read Full Story

  BAIC chairman: China's EV output to hit 1 million next year
Reuters | 2017/10/20

China¡¯s electric vehicle output could reach 1 million units next year and 3 million by 2020, BAIC Group Chairman Xu Heyi said, exceeding the government¡¯s EV production goals.  China aims to produce 2 million EVs a year by 2020 and 7 million five years later, and accounting for 20 percent of total light-vehicle production by 2025.
>> Read Full Story

  Magna to produce EV powertrain for China
Automotive News Canada | 2017/10/20

Magna International Inc. has formed a joint venture with Huayu Automotive Systems Co. to produce electric-drive powertrains for an unidentified German automaker.  The venture initially will supply componentry for China, Magna said. Huayu is a subsidiary of SAIC Motor Corp.
>> Read Full Story

  Chinese-funded EV startup buys tech firm headed by former Tesla exec
Reuters | 2017/10/20

BEIJING -- SF Motors Inc., a California electric vehicle unit of China's Chongqing Sokon Industry Group, has bought an EV and battery tech firm headed by former Tesla Inc. executive Martin Eberhard for $33 million (218 million yuan). InEVit Inc. will become a wholly owned subsidiary of SF Motors, one of an array of Chinese-funded EV startups in China and the United States.
>> Read Full Story
 

TOP 10 HEADLINES
OF THE LAST WEEK
Pressed to meet EV mandate, automakers bet on electric vans

Light-vehicle sales rise in September on crossover, SUV demand

Volvo CEO: China should seek automakers' input on EV rules

GM sales rise behind Cadillac, Baojun volumes

BMW in talks to build Minis in China with Great Wall

Audi deliveries climb on higher Q7, A5 volumes

Geely sales on pace to top 1 million with Sept. surge

Great Wall, Chery target European consumers

FCA downplays talk of consolidation with Great Wall

VW brand sales rise in Sept. as SUVs, crossovers thrive

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