CHINA NEWSLETTER November 9 2018
 
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Li Shufu's sky-high ambitions for Geely as mobility provider
Yang Jian
SHANGHAI -- Li Shufu, founder and chairman of Zhejiang Geely Holding Group, until recently seemed only interested in building a business empire in the automotive world. It turned out to be a false assumption.Li's new mission is to expand Geely's reach beyond the auto industry to provide mobility services in areas few others would dream of. Pictured: Yang Jian is managing editor of Automotive News China.
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Light-vehicle market may contract in 2018, China official warns
Bloomberg
A Chinese government official has sounded the most direct warning yet about the nation's slumping car industry. China's light-vehicle sales will come in under 30 million units this year and may even fall below 2017's tally, Wu Wei, a divisional director under China's top economic planning body, said Wednesday.
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How Hyundai Motor, once a rising star, lost its shine
Reuters
Hyundai's sales woes mark a major reversal for Korea's biggest automaker, which was an early success story in China as it quickly and cheaply rolled out popular new models in a surging market.
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Geely shores up sales on Lynk & CO volume
Automotive News China
Geely Automobile Holdings eked out 3 percent sales gain in October as demand for the newly created premium brand Lynk & CO more than offset weaker deliveries for the mass-market Geely marque.

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Audi maintains growth behind imports
Automotive News China
Strong demand for imported cars and light trucks helped Audi's China sales rise 5.4 percent to 56,499 in October. Audi's import sales surged 34 percent to 5,369, benefiting from a cut in China's tariffs on imported vehicles earlier this year.

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BMW eyes more crossover output to avoid tariff
Reuters
FRANKFURT -- BMW is considering building more crossovers in China as tariffs between the United States and China are expected to dent the German automaker's 2018 earnings by 300 million euros ($344 million).
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Tencent recruits self-driving car team in Silicon Valley
Reuters
SAN FRANCISCO -- Chinese technology company Tencent Holdings Ltd is recruiting self-driving car engineers in Palo Alto, Calif., joining a crowded field of corporations vying for talent in the heart of Silicon Valley.
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Hong Kong EV startup Thunder Power to build EVs in Belgium
Automotive News China
Thunder Power Holdings, a Hong Kong EV startup, plans to construct a plant along with an r&d center in the Wallonia region in southern Belgium to produce electric cars for the European market. The factory is set to begin production in 2020.
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 TOP 10 HEADLINES
OF THE LAST WEEK

Can FAW achieve its bold revival plan for Hongqi?

Volvo, Baidu team up for Level 4 autonomous EVs in China

Honda, GAC Group to produce plug-in hybrids, EVs in China

Ford, Baidu to start self-driving road tests in China

Faraday Future co-founder Nick Sampson steps down

Toyota Boshoku expands automotive filter parts capacity in Tianjin

Supplier Canadian General Tower opens tech center in Changshu

Beijing to propose 50% cut to tax on China car sales, report says

Great Wall posts record sales drop as market stalls

BYD warns of 2018 profit slump



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