CHINA NEWSLETTER November 14 2017
 
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GM will meet China's EV quotas by 2019, says China chief
Reuters
General Motors will produce enough electric vehicles to meet China's EV quotas in 2019 without having to buy carbon credits to meet the standards, GM China chief Matt Tsien said on Monday. China has set stringent EV production quotas that automakers must meet by 2019, a move that is prompting a flurry of electric-car deals as automakers in China race to meet the deadline.
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China vehicle sales climb in October but may fall short of annual growth forecast
Reuters
China's vehicle sales rose 2 percent year on year in October the fifth straight month of growth although the auto industry will struggle to meet forecasts of 5 percent annual growth. Sales totaled 2.70 million vehicles last month, the China Association of Automobile Manufacturers reported. For the first 10 months, industry sales rose 4.1 percent to 22.9 million vehicles.
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BMW China sales rise 14% in October but trail Audi
Automotive News China
BMW Group said its China deliveries rose 14 percent year on year to 50,412 vehicles in October despite short supplies of the redesigned 5-series sedan. The automaker was still ramping up production in China of the new 5 series last month, so inventories remained tight.

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China to cut tariff on imported vehicles
Automotive News China
China says it will gradually lower tariffs on imported vehicles as part of a package of trade agreements announced during U.S. President Donald Trump's visit to Beijing last week. China also will allow foreign automakers to set up wholly-owned subsidiaries to produce electric vehicles in free trade zones, Vice Finance Minister Zhu Guangyao said at a press conference in Beijing Friday.
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PSA may let Opel expand into China
Automotive News Europe
Opel's global export push could mean production of its vehicles in PSA Peugeot Citroen's assembly plants in China, Russia and Iran -- and even sales in the U.S. home market of its former owner, General Motors. Opel is exploring potential new markets for its vehicles outside Europe as part of its turnaround plan.
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Geely announces deal to acquire flying-car developer Terrafugia
Automotive News China
Zhejiang Geely Holding Group has negotiated a deal to buy Terrafugia, a flying-car developer in Woburn, Mass. The deal has received approval of all relevant regulators, Geely said. The company did not disclose the purchase price.
Terrafugia expects to deliver its first flying car to the market in 2019.

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Saleen Automotive to build vehicles in China
Automotive News China
Saleen Automotive Inc., a California-based specialty manufacturer of high-performance cars, plans to assemble vehicles in Rugao in east China's Jiangsu province. The 6 billion yuan ($900 million) plant will build up to 150,000 vehicles a year, Wang Xiaolin, chairman and CEO of Jiangsu Saleen Automotive Technology Co. said at a press conference in Shanghai last week.
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 TOP 10 HEADLINES
OF THE LAST WEEK

Ford should learn from GM's hot-selling entry-level models

Mercedes lags Audi in October

Ford deliveries slip on weak car demand

Geely extends sales surge behind strong crossover volume

Ford, Zotye seal deal to produce EVs in China

Tencent to develop technology for self-driving cars

China eases consumer loan rules for EV purchases

Why Baidu will beat Waymo in race to deploy self-driving cars

GM October sales climb 11% despite weak minibus demand

Nissan outsells Honda, Toyota in first 10 months



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