Automotive News   |   Automotive News Europe   |   Autoweek   |   Automobilwoche

Automotive News China Newsletter
Register our free newsletter, sent each Monday and Thursday

     Automakers   Suppliers   Auto Show   Comment   Car Cutaway   Newsletters   Press Releases   Register for Newsletter
  Contact Us:   Editorial   Advertising   Subscription Information   |   About Us   Media Kit
Home >> More Stories
  Volvo sales pick up on demand for locally built models
Automotive News China | 2019/5/7

Volvo Car Corp.¡¯s China deliveries are gathering steam, jumping nearly 17 percent to 12,192 in April.   The latest growth was achieved behind strong demand for the locally assembled XC60 compact crossover and the S90 full-size sedan, Volvo said, without revealing sales by model. 
>> Read Full Story
  Great Wall to open Russian plant
Automotive News China | 2019/5/7

Great Wall Motor Co., China¡¯s largest light-truck manufacturer, will launch production at a Russian plant this month, company Chairman Wei Jianjun said.   Wei disclosed the information at an international investment forum in Beijing.  The  factory, in the Tula Oblast region of central Russia, is Great Wall¡¯s first major assembly plant outside China. 
>> Read Full Story

  Beijing rolls out pilot program for used-vehicle exports
Automotive News China | 2019/5/7

Beijing will allow businesses in South China¡¯s Guangdong province and nine domestic cities including Shanghai and Beijing to export used vehicles to help boost China¡¯s exports.   Other cities that are part of the pilot are Xi¡¯an, Tianjin, Ji¡¯ning, Qingdao, Taizhou, Xiamen and Chengdu, China¡¯s Ministry of Commerce said on its website. 
>> Read Full Story

  S. Korea automakers' group urges end to subsidies for Chinese EVs
Reuters | 2019/5/7

SEOUL -- A South Korean automakers' group is calling for an end to generous state subsidies for sales of Chinese electric vehicles, citing a potential threat to local automakers and Beijing's "discrimination" against EVs with Korean batteries.   Jeong Marn-ki, president of the Korea Automobile Manufacturers Association, said Chinese automakers could boost EV exports as domestic demand suffered from a phasing out of Beijing's EV subsidies and a trade dispute with the United States.
>> Read Full Story

  Volkswagen teams with China's NIU to make e-scooters, report says
Reuters | 2019/5/7

BERLIN -- Volkswagen Group will join with China's NIU to produce battery-powered kick scooters, German newspaper   Die Welt   reported without giving sources.   The companies will jointly build the Streetmate, which has a top speed of 45 kilometers (28 miles) an hour and a range of 60 kilometers, the report said.
>> Read Full Story

  SAIC Q1 net profit tumbles 15% behind weak sales
Automotive News China | 2019/5/3

SAIC Motor Corp.¡¯s first-quarter net profit dropped 15 percent year on year to below 8.3 billion yuan ($1.2 billion) while revenue slumped 17 percent to 19.6 billion yuan.   The declines stemmed largely from lower sales at SAIC¡¯s joint ventures with General Motors and Volkswagen Group. 
>> Read Full Story

  German automakers' strategies differ on changing China JV stakes
Christiaan Hetzner | 2019/5/3

Germany's three major automakers are adopting different strategies for controlling their joint ventures in China.   Volkswagen Group believes the rapid changes in the market require the automaker to at least rethink its ownership structure.   By comparison, Daimler sees no need to act, while BMW Group in October seized the opportunity to secure a greater share of profits from its joint venture.
>> Read Full Story

  FCA replaces China sales chief amid slump
Automotive News China | 2019/5/3

Fiat Chrysler Automobiles has replaced its China sales head as local deliveries continue to decline.   Massimiliano Trantini has been named president of the sales unit at FCA¡¯s joint venture with Guangzhou Automobile Group Co., FCA said.  He replaces Daphne Zheng, who left FCA after having been president of the sales unit since 2015.
>> Read Full Story

  Polestar to open 20 China stores by end of 2020
Automotive News China | 2019/5/3

Polestar, Volvo Car Corp.'s electrified performance-vehicle brand, plans to open 20 stores in China by the end of next year to tap local demand for luxury electrified vehicles.   The first store will open in the third quarter in Beijing, Polestar said.
>> Read Full Story

  EV startup Bordrin to build vehicles at FAW's car subsidiary
Automotive News China | 2019/5/3

Electric vehicle startup Bordrin Motors plans to produce its vehicles at Tianjin FAW Xiali Automobile Co., a car subsidiary of state-owned Chinese automaker FAW Group Corp.   Production is to begin at year end by a joint venture to be formed by Bordrin and FAW Xiali, according to an agreement signed by the two sides.
>> Read Full Story

  Faraday Future secures $225 million in bridge financing
Reuters | 2019/5/3

Chinese electric vehicle developer Faraday Future said it had obtained up to $225 million (1.52 billion yuan) in bridge financing from a U.S. merchant bank to allow it to complete the development of its flagship FF 91 model.   Faraday, which has ambitions to overtake Tesla Inc., said in November that it was exploring strategic options, including debt and equity financing, amid a legal fight with Evergrande Health Industry Group  that has since ended.
>> Read Full Story

U.S. has battery problem in race for EV supremacy
Bloomberg | 2019/5/3

The U.S. push to challenge China¡¯s dominance in the production and sale of electric vehicles has at least one weak link: Most of the raw materials needed to make the batteries are dug elsewhere.   Chinese and U.S. companies have invested heavily in lithium mining projects in Chile, Australia and Argentina, some of the world¡¯s top producing nations. But unlike the U.S., Chinese companies have also invested at home, with the Asian nation producing almost eight times more lithium domestically than the U.S.

>> Read Full Story

  CHJ seeks to raise up to $500 million
Reuters | 2019/5/3

Chinese electric vehicle maker CHJ Automotive is seeking to raise $300 million to $500 million (2 billion to 3.37 billion yuan) in its latest round of funding, two people with direct knowledge of the matter said, joining its peers in tapping more investors to finance growth.   CHJ, founded by entrepreneur Li Xiang, sees itself valued at at least $2.5 billion ahead of the new funding round and has hired Goldman Sachs to advise on the fundraising, they said. 
>> Read Full Story

U.S. legislation aims to thwart China's EV dominance
Reuters | 2019/5/2

WASHINGTON -- A U.S. senator plans to introduce legislation on Thursday to streamline regulation and permitting requirements for the development of mines for lithium, graphite and other electric-vehicle supply chain minerals, as part of a plan to offset China's dominance in the EV market.

>> Read Full Story

  BYD Q1 profit surges on strength of EVs, plug-in hybrids, fuel cell vehicles
Reuters | 2019/4/30

BYD Co. reported a 632 percent jump in first-quarter net profit, buoyed by strong demand for electric, plug-in hybrid and fuel cell vehicles.   The Shenzhen-headquartered car and battery maker, which has a joint venture with Daimler in China, said last month it expected first-quarter profit to rise by up to nearly 800 percent.
>> Read Full Story

  Evergrande eyes European auto acquisitions, sources say
Bloomberg | 2019/4/30

China Evergrande Group, a property developer that has ambitions to dominate the global electric-vehicle industry, has approached two Dutch truck and bus makers about possible acquisitions, according to people familiar with the matter.   The group, headed by China¡¯s third-richest man, has contacted Paccar Inc.¡¯s DAF Trucks and closely held bus manufacturer VDL Groep, said the people, who asked not to be named.
>> Read Full Story

  Battery maker CATL's profit soars behind EV boom
Automotive News China | 2019/4/30

Contemporary Amperex Technology's net profit surged 153 percent to nearly 1.05 billion yuan ($156 million) in the first quarter, bolstered by soaring demand for electric vehicles across China.   The country¡¯s largest battery supplier for EVs said revenue jumped 169 percent to approach 10 billion yuan. 
>> Read Full Story

  Proton secures $445 million loan from Chinese bank
Automotive News China | 2019/4/30

Malaysian carmaker Proton Holdings, partly owned by private Chinese automaker Zhejiang Geely Holding Group, obtained a loan of 1.88 billion Malaysian ringgit ($445 million) from a state-owned Chinese bank to help expand operations.    The lending agreement was signed between Proton and China Construction Bank in Beijing. 
>> Read Full Story

  Tesla China plant takes shape
Bloomberg | 2019/4/30

Three months after groundbreaking, Tesla Inc. is rushing to complete its multibillion-dollar factory on the outskirts of Shanghai to capitalize on growing demand in the world¡¯s largest electric-car market.   Foundations for the factory have been laid, and construction workers are erecting walls and other structures for the plant, which could eventually rival production from its U.S. assembly plant. 
>> Read Full Story

  Nissan taps Thailand chief to lead China car joint venture
Automotive News China | 2019/4/30

Nissan Motor Co. is dispatching the president of its Thailand operations, Antoine Barthes, to lead its car joint venture with state-owned Chinese automaker Dongfeng Motor Group.   Barthes will be appointed president of Dongfeng-Nissan Passenger Vehicle Co. effective June 1, Dongfeng said. 
>> Read Full Story

  Renault, Nissan open Shanghai lab to advance mobility, EV efforts
Automotive News China | 2019/4/30

Renault and Nissan have set up an innovation lab in Shanghai to conduct r&d on autonomous driving, connected cars and electric vehicles.   The Alliance Innovation Lab Shanghai will be equally owned by Renault and Nissan.   Technologies developed by the lab will be adopted for Renault and Nissan vehicles sold in and outside China, Renault said.
>> Read Full Story

  Mercedes targets performance enthusiasts with China-built AMG
Christiaan Hetzner | 2019/4/30

SHANGHAI -- Daimler will begin building Mercedes-AMG cars in China when the A 35 long-wheelbase sedan runs off the assembly line in Beijing toward year end.   Daimler now exports the Germany-built Mercedes-AMG A 45, a high-powered version of the A-class compact car, to China. It's the entry level AMG in China and is the performance subbrand's top-selling AMG import.
>> Read Full Story

  COMMENT
At Shanghai auto show, a dim future for most China EV startups
Yang Jian | 2019/4/26

Hundreds of new companies have popped up across China to develop electric vehicles with the dream of becoming the next Tesla.   Yet signs were evident at the Shanghai auto show that most of the EV startups will vanish in the near future.   Some 20 fledging EV makers showcased products at the show but only a small number of them have started production and just three have launched deliveries.   Pictured: Yang Jian is managing editor of  Automotive News China
>> Read Full Commentary

  SHANGHAI AUTO SHOW
Lexus plans its first EV for China, Europe
Hans Greimel | 2019/4/26

Declaring that an electric vehicle is necessary for China and Europe, Lexus International President Yoshihiro Sawa said the luxury brand is working on its first EV.   But exactly what it will be and when it will appear, the Toyota marque is still trying to figure out.
>> Read Full Story

  Volkswagen plans EV plant with JAC in Hefei
Reuters | 2019/4/26

Volkswagen Group's joint venture with China's Anhui Jianghuai Automobile Co. plans to invest 5.06 billion yuan ($750.8 million) in a new electric vehicle factory in eastern Hefei city, according to local authorities.   A document posted online by the Hefei Economic and Technological Development Area shows that Volkswagen and JAC have obtained approval from environmental authorities to build a plant capable of producing 100,000 full-electric battery vehicles a year.
>> Read Full Story

  Changan suffers 1st-quarter losses on weak Ford, Mazda sales
Automotive News China | 2019/4/26

Changan Automobile Co., Ford Motor Co.'s passenger vehicle joint venture partner, estimates it lost 1.7 billion to 2.5 billion yuan ($253 million to $372 million) in the first quarter, down from a net profit of 1.4 billion yuan a year earlier.   The loss was caused by sales declines of its own brands and joint ventures, the state-owned Chinese automaker said last week. 
>> Read Full Story

  Tesla: China output may hit 2,000 a week in 2019
Bloomberg | 2019/4/26

Tesla Inc.'s production in China, the world¡¯s largest electric-car market, could reach a rate of 2,000 vehicles a week by year end, CEO Elon Musk said.   "It looks like we will reach volume production at the end of this year with at least more than 1,000 cars a week, maybe 2,000," Musk said on an earnings conference call. "If it's not then, it will be shortly thereafter."
>> Read Full Story

China to support hydrogen, fuel cell vehicles
Reuters | 2019/4/26

China will push ahead to advance development of the country's hydrogen energy and fuel cell vehicle industry, a government official said, as part of wider efforts to promote green energy in the world's largest light-vehicle market.

>> Read Full Story

  Hyundai promotes China designer to global role in Seoul
Laurence Iliff | 2019/4/26

Hyundai promoted its China design director, Simon Loasby, to head its styling group in Seoul, where he will lead further development of the brand's Sensuous Sportiness design language.   Loasby, 51 and a vice president, takes over as head of the styling group at the Hyundai Design Center in Korea, the company said in a statement.
>> Read Full Story

  Pininfarina to expand China team despite market downturn
Automotive News China | 2019/4/26

Italian automotive design house Pininfarina will continue to expand its team in China despite the market slowdown, CEO Silvio Pietro Angori said.  "Although it is declining, the market is so large and there are still a lot of new cars being developed. So I don¡¯t expect any decline in our business," Angori told   Automotive News China   .
>> Read Full Story

  Ford reboots in China, with deeper intel
Hans Greimel | 2019/4/23

Desperate to reverse a severe sales slump, Ford Motor Co. is belatedly following rivals in doing things differently in China for local consumers.   The old One Ford cookie-cutter approach didn't cut it in China. So Ford¡¯s China 2.0 plan goes local in a big way with newly expanded China-dedicated centers for design, engineering and advanced innovation.
>> Read Full Story
 

TOP 10 HEADLINES
OF THE LAST WEEK
How Beijing's campaign to protect the environment is hurting auto sales

BMW sustains robust sales on strength of locally built X3 crossover

EV sales growth slows; plug-in hybrid deliveries pick up

Ford sees profit return in China with local vehicle output

China-Vancouver luxury car trade lures dirty cash

Volvo's Polestar brand intensifies Tesla challenge with 'powerful little beast'

Jaguar Land Rover in uphill battle to revive China operations

Geely opens EV research center in Germany

Light-vehicle sales nosedive 18% in April

Sales at GM's 2 joint ventures plunge

Our Newsletter Editions
Automotive News China produces two email newsletters each week. You can sort your news by the articles highlighted in each of our newsletters here.

Select your newsletter     

 
 

Automotive News China
Room 1303, Building 2, Lane 99, South Hongcao Road,
Shanghai 200233
Telephone: 86-139-1851-5816
Fax: 86-21-6495-0895
 
Home | Help Center | About Us | RSS
Entire contents © Crain Communications, Inc.
Use of editorial content without permission is strictly prohibited. All Rights Reserved.
»¦ICP±¸06057291ºÅ