CHINA NEWSLETTER July 10 2018
 
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Stung by extra tariffs, Tesla, BMW hike prices in China
Reuters
Tesla Inc. and BMW AG are raising vehicle prices in China, becoming the first carmakers to take major steps and counter punitive tariffs amid rising trade tensions between Beijing and the United States.

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VW brand sales slide in June as consumers await lower tariffs
Automotive News China
The Volkswagen brand abruptly lost steam in China last month with sales dipping 1.7 percent from a year earlier to 228,500, after healthy growth in the first five months. The German brand blamed a cut in tariffs on imported vehicles for the slide in volume.

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Ford slides deeper into China rut
Reuters
BEIJING -- Ford Motor Co.'s China slump is intensifying, with vehicle sales tumbling 38 percent in June and the automaker recording its worst ever first half, as buyers shunned aging models that are awaiting updates and flocked to rivals.
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China eyes more cuts in EV subsidies
Bloomberg
China is considering a further reduction in electric-vehicle subsidies next year as the government pushes automakers to innovate rather than rely on fiscal policy to spur demand for alternative-energy cars, people familiar with the plan said.
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Mercedes-Benz maintains double-digit growth
Automotive News China
Mercedes Benz's China sales continued to grow at a double-digit pace, rising 14 percent year on year to 56,945 last month. Through June, the German luxury brand's deliveries jumped 16 percent from a year earlier to top 340,000.

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BYD to make EV batteries for Changan
Automotive News China
BYD Co., which has built batteries only for its electrified vehicle-lineup, is moving to supply batteries to external customers. The private company partly owned by U.S. billionaire Warren Buffett, signed an agreement last week with Changan Automobile Co. to produce EV batteries for the state-owned carmaker.

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Nissan, Toyota see solid growth; Honda slide continues
Automotive News China
Nissan Motor Co. and Toyota Motor Corp. each posted 10 percent sales gains in China last month. But Honda Motor Co.'s volume remained weaker.
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BMW signs $4.7 billion contract with CATL for battery cells
Reuters
MUNICH -- BMW plans to source 4 billion euros' ($4.7 billion) worth of battery cells from Chinese battery maker Contemporary Amperex Technology Ltd. over the next few years.
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Brilliance, BMW to boost annual capacity at China JV to 520,000
Reuters
FRANKFURT -- BMW AG and joint venture partner Brilliance Automotive Group Holdings agreed to expand production capacity at BMW Brilliance Automotive's two assembly plants in China to 520,000 BMW brand vehicles in 2019, BMW said Monday.
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 TOP 10 HEADLINES
OF THE LAST WEEK

China's unbridled EV push wreaks havoc on battery makers

U.S., China dig in over trade as tariffs take hold

GM's Q2 sales growth falls below 1% behind Buick slump

Ford: No plans, for now, to hike China prices

Baidu, King Long begin mass output of China's first fully autonomous vehicle

U.S. tariff threat jolts Denso as parts giant readies China expansion

Geely's London electric cab unit joins in Brexit warnings

BYD to deliver 100 electric buses to Chilean capital

BJEV starts battery-swap service

Ethanol push under cloud as U.S. trade dispute widens



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