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Chinese Auto Market Shifts Towards Affordable Domestic Cars Over Premium Imports
Chinas luxury car demand declines as economic slowdown and shifting preferences hurt European automakers sales.
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Xiaomi Unveils YU7 Electric SUV With China Launch Set for Next Year
Xiaomi announced its latest electric vehicle (EV) dubbed the Xiaomi YU7 for the Chinese markets on Tuesday. It is expected to join the Chinese company’s growing fleet of electric cars that currently include the SU7. Although specifics are yet to be revealed, the Xiaomi YU7 is anticipated to be its SUV offering that will aim to take on the likes o...
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Xiaomi Launches SU7 Electric Car in China as Smartphone Maker Takes Aim at EV Giant Tesla
Chinese smartphone maker Xiaomi launched a sporty electric car on Thursday with styling cues drawn from Porsche and priced below Tesla's Model 3, highlighting the stiff competition from new entrants in an already crowded EV market in China.
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JSW Group Said to Be in Talks to Get Licence for Technology to Build EVs in India
India's steel-to-energy JSW Group is in early talks with Chinese automaker Leapmotor to license technology to build electric vehicles in India, according to people familiar with the discussions. Under the technology licensing agreement, JSW would use Leapmotor's platform to manufacture EVs in India under its own brand name.
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Xiaomi Says EV Plans Running Ahead of Schedule Amid Revenue Drop Report
Chinese smartphone maker Xiaomi reported a 4 percent revenue drop in the second quarter, tracking a shrinkage in China's handset market, but said its move into making electric vehicles was running ahead of schedule. Sales dropped to CNY 67.4 billion (nearly Rs. 76,450 crore) from CNY 70.17 billion (nearly Rs. 80,650 crore) in the same quarter a ye...
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Micromax Exploring Electric Vehicle Venture Following Decline in Smartphone Sales, Layoffs: Report
Micromax is reportedly working towards foray into electric vehicles (EV) market in India, after the smartphone maker has faced stiff competition from Chinese brands. The firm's upcoming venture will initially focus on two-wheeler EVs, according to a report, suggesting it will compete with Indian brands in a crowded market.
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Tesla in India: How the Automaker Could Enter World's Third-Largest Market With No Threat From Chinese Rivals
Tesla could benefit from increased scrutiny on Chinese brands like BYD in India, and the EV maker has received a red-carpet welcome from the government. The Elon Musk-led firm could enter the world's third-largest auto market without facing competition from BYD like it does in other markets — like Thailand. Tesla reportedly plans to build a low-c...
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Tesla Raises Prices For Some Model Y Cars In China
Tesla Inc has raised the price for some Model Y cars for the Chinese market, its website showed.
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Toyota Warns Profit To Skid 20% As Raw Materials Costs Pile Up
Toyota Motor warned "unprecedented" hikes in raw material costs could slice a fifth off full-year profit, a clear sign the world's top automaker by sales can no longer shrug off the supply-chain crunch that has roiled the global industry.
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China Opens Market For Foreign Automakers From January 2022
China will do away with the existing system that has limited foreign ownership to only joint ventures, in a bid to promote investment for some of the biggest and most prominent automakers in the world.
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Tesla To Work With Global Regulators On Data Security: Musk
Tesla, which assembles vehicles for the Chinese market in Shanghai, has been under scrutiny in China this year over its storage and handling of customer data.
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Oil Rallies To $73 On Tight U.S. Supplies, Biden-Xi Call
Oil and equity markets also got a boost from news of a call between U.S. President Joe Biden and his Chinese counterpart Xi Jinping. The call raised hopes for warmer relations and more global trade, analysts said.
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Geely Holding Group And Renault Group To Sign MOU On Joint Cooperation In China And South Korean Markets
Following the adoption by Geely Holding's opensource strategy for its full vehicle architectures, Geely Holding will partner with Renault Group in the Chinese and Korean markets.
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Chinese Automaker Geely Auto Scraps STAR Market Listing Plan
China's Geely Automobile Holdings Ltd said on Friday it is dropping plans to list new shares on the mainland's Nasdaq-like STAR Market.
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Chinese Automaker Changan Aims To List EV Unit On STAR Market: Report
Chinese state-run automaker Chongqing Changan Automobile plans to list its electric vehicle (EV) unit on Shanghai's Nasdaq-style STAR Market, three sources briefed on the matter said, to fund a rapid expansion of its business.
-
Chinese Auto Market Shifts Towards Affordable Domestic Cars Over Premium Imports
Chinas luxury car demand declines as economic slowdown and shifting preferences hurt European automakers sales.
-
Xiaomi Unveils YU7 Electric SUV With China Launch Set for Next Year
Xiaomi announced its latest electric vehicle (EV) dubbed the Xiaomi YU7 for the Chinese markets on Tuesday. It is expected to join the Chinese company’s growing fleet of electric cars that currently include the SU7. Although specifics are yet to be revealed, the Xiaomi YU7 is anticipated to be its SUV offering that will aim to take on the likes o...
-
Xiaomi Launches SU7 Electric Car in China as Smartphone Maker Takes Aim at EV Giant Tesla
Chinese smartphone maker Xiaomi launched a sporty electric car on Thursday with styling cues drawn from Porsche and priced below Tesla's Model 3, highlighting the stiff competition from new entrants in an already crowded EV market in China.
-
JSW Group Said to Be in Talks to Get Licence for Technology to Build EVs in India
India's steel-to-energy JSW Group is in early talks with Chinese automaker Leapmotor to license technology to build electric vehicles in India, according to people familiar with the discussions. Under the technology licensing agreement, JSW would use Leapmotor's platform to manufacture EVs in India under its own brand name.
-
Xiaomi Says EV Plans Running Ahead of Schedule Amid Revenue Drop Report
Chinese smartphone maker Xiaomi reported a 4 percent revenue drop in the second quarter, tracking a shrinkage in China's handset market, but said its move into making electric vehicles was running ahead of schedule. Sales dropped to CNY 67.4 billion (nearly Rs. 76,450 crore) from CNY 70.17 billion (nearly Rs. 80,650 crore) in the same quarter a ye...
-
Micromax Exploring Electric Vehicle Venture Following Decline in Smartphone Sales, Layoffs: Report
Micromax is reportedly working towards foray into electric vehicles (EV) market in India, after the smartphone maker has faced stiff competition from Chinese brands. The firm's upcoming venture will initially focus on two-wheeler EVs, according to a report, suggesting it will compete with Indian brands in a crowded market.
-
Tesla in India: How the Automaker Could Enter World's Third-Largest Market With No Threat From Chinese Rivals
Tesla could benefit from increased scrutiny on Chinese brands like BYD in India, and the EV maker has received a red-carpet welcome from the government. The Elon Musk-led firm could enter the world's third-largest auto market without facing competition from BYD like it does in other markets — like Thailand. Tesla reportedly plans to build a low-c...
-
Tesla Raises Prices For Some Model Y Cars In China
Tesla Inc has raised the price for some Model Y cars for the Chinese market, its website showed.
-
Toyota Warns Profit To Skid 20% As Raw Materials Costs Pile Up
Toyota Motor warned "unprecedented" hikes in raw material costs could slice a fifth off full-year profit, a clear sign the world's top automaker by sales can no longer shrug off the supply-chain crunch that has roiled the global industry.
-
China Opens Market For Foreign Automakers From January 2022
China will do away with the existing system that has limited foreign ownership to only joint ventures, in a bid to promote investment for some of the biggest and most prominent automakers in the world.
-
Tesla To Work With Global Regulators On Data Security: Musk
Tesla, which assembles vehicles for the Chinese market in Shanghai, has been under scrutiny in China this year over its storage and handling of customer data.
-
Oil Rallies To $73 On Tight U.S. Supplies, Biden-Xi Call
Oil and equity markets also got a boost from news of a call between U.S. President Joe Biden and his Chinese counterpart Xi Jinping. The call raised hopes for warmer relations and more global trade, analysts said.
-
Geely Holding Group And Renault Group To Sign MOU On Joint Cooperation In China And South Korean Markets
Following the adoption by Geely Holding's opensource strategy for its full vehicle architectures, Geely Holding will partner with Renault Group in the Chinese and Korean markets.
-
Chinese Automaker Geely Auto Scraps STAR Market Listing Plan
China's Geely Automobile Holdings Ltd said on Friday it is dropping plans to list new shares on the mainland's Nasdaq-like STAR Market.
-
Chinese Automaker Changan Aims To List EV Unit On STAR Market: Report
Chinese state-run automaker Chongqing Changan Automobile plans to list its electric vehicle (EV) unit on Shanghai's Nasdaq-style STAR Market, three sources briefed on the matter said, to fund a rapid expansion of its business.
