CHINA NEWSLETTER February 8 2019
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Daimler, Geely in talks to expand ties into 'bigger dimension'
STUTTGART -- Daimler CEO Dieter Zetsche says the carmaker is in talks about deepening cooperation with China's Geely, even as German politicians draw up measures to protect German industry from foreign rivals. In October, Daimler said it was setting up a ride-hailing joint venture in China with Geely after the Chinese company bought a 9.69 percent stake in Daimler and demanded an alliance, catching German managers off guard.
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U.S.-China trade war squeezes Volvo Car profit margins
STOCKHOLM -- Chinese-owned Volvo Cars reported a decline in 2018 profit margins as a prolonged trade war between Washington and Beijing pushed up costs and resulted in pricing pressure in its primary market, China. The Swedish carmaker, owned by China's Geely, plans to increase production and sales while cutting operating costs to try to offset the negative impact on profit margins that is expected to persist this year, CEO Hakan Samuelsson said.
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Volvo Cars courts China, U.S. tech investors to fund Polestar rollout
STOCKHOLM -- Volvo Cars is talking to Chinese investors as well as U.S. tech investors as the company seeks external financing for its Polestar performance electric car brand, the Swedish carmaker's CEO said on Thursday.
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Volvo extends sales gains behind 2 locally built models
Automotive News China
Volvo Car Corp. maintained sales growth in China last month, with volume rising 3.6 percent to 11,958. The growth was driven by the locally assembled XC60 compact crossover and the S90 full-size sedan, Volvo said, without disclosing sales of individual models.
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FAW to launch 2 crossovers, SUV under premium Hongqi brand
Automotive News China
China FAW Group Corp. plans to introduce two crossovers and an SUV under the Hongqi premium brand this year, expanding the marque's product lineup into key light-truck segments for the first time. One of the two crossovers is an electric vehicle with a range of 390 kilometers on one change, FAW said. The compact crossover will be the first EV in Hongqi's product mix. It will arrive before the end of March.
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Hyundai venture posts sales surge in January
Automotive News China
Sales at Beijing Hyundai Motor Co., Hyundai Motor Co.'s joint venture with BAIC Motor Group Co., jumped 47 percent to 110,316 in January. It was the joint venture's best monthly sales tally since January 2017, Beijing Hyundai said.

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CATL, Honda cooperate on EV battery development
TOKYO -- Contemporary Amperex Technology and Honda Motor Co. signed an agreement to cooperate on jointly developing lithium ion batteries for electric vehicles, as China's top EV battery maker expands tie-ups with Japanese automakers.

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China's Arcfox to introduce next-gen crossover concept in Geneva
Automotive News Europe
Chinese electric-vehicle brand Arcfox will unveil a crossover concept and updated version of the Arcfox-7 supercar in March at the Geneva auto show. Arcfox is owned by Beijing Electric Vehicle, a division of Beijing Auto.
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Market contraction deals heavy blow to Chinese automakers

Changan, Jiangling warn of big losses behind weak Ford sales

China's plan to boost vehicle sales draws criticism

U.S., China launch high-level trade talks amid deep differences

Musk: $500 million enough to launch output at Tesla's Shanghai plant

PSA granted license to test self-driving vehicle in Chongqing

Nissan-Dongfeng venture targets 10% sales growth this year

Koenigsegg teams with Saab successor to go electric

Didi weighs job cuts in support functions, report says

Great Wall seeks to boost sales 14% in 2019

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