CHINA NEWSLETTER January 18 2019
 
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Who is buying EVs in China?
Yang Jian
Sales of electrified vehicles have been surging in China for years. But until recently, it remained unknown who was buying many of the vehicles. But a new research project led by Beijing-based news website Sina.com discovered that a big chunk of the EVs automakers claim to have sold have ended up at their fleet and mobility operations. Pictured: Yang Jian is managing editor of Automotive News China.
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Under Geely, is Lotus poised to blossom?
Nick Gibbs
Signs are emerging that Geely wants Lotus to become a major player in the luxury market, one that will take on Porsche, Maserati and even break into the ultraluxury space to poach customers from Bentley, Aston Martin, Ferrari and McLaren.
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Lotus cars to be 'Made in China' at new Geely plant
Reuters
The Chinese owner of Lotus plans to start producing vehicles under the British sports car brand in China for the first time with the opening of a new 9 billion yuan ($1.3 billion) factory in Wuhan city, company job listings and government documents show.
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Chinese health care company to buy 51% stake in Swedish EV maker NEVS
Automotive News China
Chinese health care services provider Evergrande Health Industry Group agreed to acquire 51 percent interest in Swedish electric vehicle maker National Electric Vehicle Sweden. The $930 million (6.3 billion yuan) deal will be closed at the end of January, Evergrande Health said.
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EV startup Nio delivers more than 11,000 vehicles in 6 months
Automotive News China
Chinese electric vehicle startup Nio sold 11,348 vehicles last year after launching its first product, the seven-seat ES8 crossover, on June 28. Nio said it delivered 3,318 ES8s in December.
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GAC selects Calif. for regional HQ as U.S. debut looms
Automotive News
DETROIT -- As an escalating trade war with China delays GAC Motor's planned U.S. debut until at least 2020, the automaker is forging ahead with the launch by establishing a regional headquarters in California.
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Everybody wants to be the next Elon Musk (at least in China)
Bloomberg
Tesla Inc. is now hiring in China, and China Inc. is hiring in Tesla's backyard. A groundbreaking in Shanghai attended by Tesla CEO Elon Musk last week marked what will become the first factory in the nation entirely owned by a foreign automaker. In Tesla's Silicon Valley neighborhood, meanwhile, about a dozen electric automakers with Chinese owners or backers are setting up shop or recruiting Musk's former co-workers.
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Magna opens engineering joint venture with BAIC's EV unit
Automotive News China
Magna International has unveiled an automotive engineering joint venture with BAIC Motor Co.'s electric vehicle subsidiary Beijing Electric Vehicle Co. in the east China city of Zhenjiang. The new company will have 420 employees. It will engineer EVs for BJEV as well as other potential customers, Magna said.
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 TOP 10 HEADLINES
OF THE LAST WEEK

Regulatory chaos, confusion reign over EV market

GM China sales fall 9.9% in 2018

China to cut taxes, fees for manufacturers in 2019

Beijing mulls policies to encourage auto purchases in rural China

VW, China spearhead $300 billion global drive to electrify cars

VW plans China venture for charging EVs

Audi taps Infiniti's China chief to lead local sales

China wants Elon Musk to help promote stable ties with U.S.

Foton to sell 67% stake in Borgward to ride-hailing company, consultant

Byton seeks to raise $500 million



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