CHINA NEWSLETTER August 10 2018
 
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Geely sales continue to surge; Great Wall deliveries slump
Automotive News China
Geely Automobile Holdings maintained robust sales growth in July, with deliveries jumping 32 percent year on year to 120,277 vehicles. By contrast, Great Wall Motor Co.'s sales slumped 21 percent last month from a year earlier to 54,334.
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Ford to launch new basic crossover under revival effort
Reuters
BEIJING -- Ford Motor Co. will launch a new ˇ°entry-levelˇ± crossover developed jointly with a local partner as the U.S. automaker attempts to revive its slumping business in China.The Ford Territory, developed with Jiangling Motors Corp. and available with three powertrain choices, including a plug-in hybrid, is intended to close a product gap in Ford's China lineup.
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Toyota to build electrified vehicles in Tianjin
Automotive News China
Toyota Motor Corp. will renovate one of its assembly plants in the north China port city of Tianjin to build electrified vehicles.The 1.8 billion yuan ($263 million) renovation project was approved by the Tianjin city government's economic planning agency, according to the Tianjin Construction Project Information website, which invites bids for the project.
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Tesla starts hiring in China before breaking ground
Bloomberg
BEIJING -- Cash-strapped Tesla Inc. has yet to reveal details of the investment needed for its Shanghai plant, but the electric-vehicle maker has started hiring for the factory.
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Geely mulls $1.9 billion revival plan for Lotus
Bloomberg
The Chinese owner of Lotus Cars is considering an investment of at least 1.5 billion pounds ($1.9 billion) to revive the iconic British brand featured in James Bond movies, according to people familiar with the matter.
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Daimler in talks to build Smart EVs in China, sources say
Bloomberg
BEIJING -- Daimler is in talks to build electric Smart cars in China with a local partner, according to people with direct knowledge of the matter, in a push to boost sales of the minicar brand in the world's largest electric vehicle market.
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Porsche raises full-year sales forecast on growing demand in China
Automotive News Europe
SHANGHAI -- Porsche expects to increase its vehicle sales this year thanks to higher demand in China after previously forecasting flat volume.In March Porsche said it expected to reach only the 246,375 vehicles sold in 2017 this year, a forecast it reiterated after posting first-half sales that showed volumes grew 3 percent to 130,598 vehicles.
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Honda recalls another 69,000 vehicles
Reuters
BEIJING -- Honda Motor Co. is recalling 69,090 UR-V crossovers in China because of a cold-climate engine problem that has already forced the recall of hundreds of thousands of vehicles.
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 TOP 10 HEADLINES
OF THE LAST WEEK

Tesla to fund $5 billion Shanghai car, battery factory with local debt

Audi taps South American exec to steer China unit

BMW sees 5-10% sales growth in China despite tariffs

Nissan nearing decision on new China assembly plant, CEO says

Sales slow at Renault-Dongfeng joint venture

Cadillac to launch sales of locally produced XT4 this month

Used-vehicle sales advance 13% in first half

EV startup Xpeng raises another 4 billion yuan ahead of G3 launch

BMW, citing new tariffs, hikes price of 2 U.S.-made crossovers in China

Exports remain robust behind emerging market demand



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