CHINA NEWSLETTER January 11 2019
 
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Regulatory chaos, confusion reign over EV market
Yang Jian
SHANGHAI -- The severe downturn in China's traditional vehicle market in the second half of 2018 caught automakers unprepared. At the start of the new year, companies find themselves confronted with a thick layer of regulatory chaos and confusion surrounding the electrified vehicle market. The major uncertainty facing automakers is how the Chinese government will wind down subsidies for electrified vehicles. Pictured: Yang Jian is managing editor of Automotive News China.
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GM China sales fall 9.9% in 2018
Automotive News China
General Motors' deliveries in China fell 9.9 percent to 3.64 million in 2018 because of a weaker domestic economy. Every brand the Detroit automaker markets with local partner SAIC Motor Corp., aside from Cadillac, recorded a sharp decline in sales last year.
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China to cut taxes, fees for manufacturers in 2019
Reuters
China will cut taxes and fees paid by manufacturers in 2019 to support numerous industrial sectors, including the auto industry, state TV quoted the industry minister as saying on Thursday. "In future, there will be more measures to reduce taxes for the manufacturing sector," Miao Wei was quoted by state TV as saying.
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Beijing mulls policies to encourage auto purchases in rural China
Automotive News China
The Chinese government is weighing policies to encourage rural residents to buy new vehicles, a senior government official told the state-owned China Central Television Station. The policies are intended to support the shift of auto sales from cities to rural areas in China where vehicle demand remains strong, Ning Jiezhe, vice director of the National Development and Reform Commission, said.
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VW, China spearhead $300 billion global drive to electrify cars
Reuters
Global automakers are planning a $300 billion surge in spending on electric vehicle technology over the next five to 10 years, with nearly half of the money targeted at China, accelerating the industry's transition from fossil fuels and shifting power to Asian battery and electric vehicle technology suppliers.
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VW plans China venture for charging EVs
Bloomberg
Volkswagen Group is setting up a network of fast-charging stations in China with local partners as part of a multibillion-dollar push to boost electric-vehicle sales in the world's largest market, people familiar with the matter said.
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Audi taps Infiniti's China chief to lead local sales
Automotive News China
Audi named Lu Yi, former China head of Infiniti, executive vice president of its Chinese operations, effective Thursday. Lu will oversee sales and marketing for Audi in China and report directly to Audi's China president, Thomas Owsianski, the German luxury brand said.

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China wants Elon Musk to help promote stable ties with U.S.
Bloomberg
Two days after Tesla CEO Elon Musk appeared at a groundbreaking ceremony for the company's newest Gigafactory, in Shanghai, China Premier Li Keqiang met with the billionaire-entrepreneur in Beijing and said he hopes the Tesla chief can help thaw frosty trade relations between the U.S. and China.
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Foton to sell 67% stake in Borgward to ride-hailing company, consultant
Automotive News China
Chinese truckmaker Beiqi Foton Motor Co. agreed to sell a 67 percent stake in Borgward, the German SUV brand it revived four years ago, to two domestic companies -- ride-hailing provider Ucar Inc. and consulting firm Changsheng Xingye Enterprise Management Advisory Co.

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Byton seeks to raise $500 million
Reuters
Chinese-funded electric vehicle manufacturer Byton is seeking to raise at least $500 million to finance growth, valuing the nearly 3-year-old company at more than $4 billion, two people familiar with the matter told Reuters.
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