Tag: Auto

German auto executives repeat opposition to European Union’s probe

Oliver Zipse, chairman of BMW’s board of management, at the 2024 Beijing auto show, April 25. [Photo/VCG] Executives of German carmakers as well as the German car association are repeating their opposition as the European Union threatens to impose punitive duties on China-made electric vehicles as early as July. Oliver Zipse, chairman of BMW’s board … Continue reading German auto executives repeat opposition to European Union’s probe

‘Invigorating’ China a key focus after record year of sales for Rolls-Royce

Rolls-Royce CEO Chris Brownridge shares the company’s global strategy and his insights into China’s luxury market at the 2024 Auto China in Beijing. [Photo/China Daily] Rolls-Royce finds China “invigorating” and will continue its investment in the country, its second-largest market in the world, said the CEO of the British luxury brand. “It’s a very exciting … Continue reading ‘Invigorating’ China a key focus after record year of sales for Rolls-Royce

Understanding Europe crucial for Chinese carmakers

Visitors examine an off-road vehicle at the Beijing auto show that runs from April 25 to May 4, 2024. [Photo by Li Fusheng/chinadaily.com.cn] Chinese carmakers will help galvanize the vehicle market in Europe, but if they want to secure a foothold, they need to gain a deep understanding of the destination, said the chief economist … Continue reading Understanding Europe crucial for Chinese carmakers

Crisis or opportunity: traditional automakers in EV race

A BYD vehicle on display during an expo in Paris, France. [Photo/Xinhua] Editor’s note: The following article is the result of joint efforts of the Beijing Municipal People’s Government Consultation Office and the Cloud River Urban Research Institute. Delving into the changing global auto industry landscape, the article analyzes the challenges facing established automakers like … Continue reading Crisis or opportunity: traditional automakers in EV race

China’s passenger vehicle sales up 9% in Jan-April

Visitors examine an off-road vehicle at the Beijing auto show that runs from April 25 to May 4, 2024. [Photo by Li Fusheng/chinadaily.com.cn] BEIJING — China’s retail sales of passenger cars reached nearly 6.42 million units in the first four months of this year, marking an increase of 9 percent year-on-year, according to data from … Continue reading China’s passenger vehicle sales up 9% in Jan-April

Mood toward NEV stocks brightens

A BYD Ocean-M electric car is displayed at the 2024 Auto China in Beijing on April 25, 2024. [Photo/VCG] Listed Chinese new energy vehicle makers can look forward to their stocks performing well in capital market on the back of their robust production and sales numbers, which will be further boosted by the country’s supportive … Continue reading Mood toward NEV stocks brightens

Seres’ Q1 net profit hits $30.34 million

Seres showcases a vehicle platform at the Beijing auto show that runs from April 25 to May 4, 2024. [Photo provided to chinadaily.com.cn] Seres, which produces AITO-branded vehicles in collaboration with Huawei, saw its net profit reach 220 million yuan ($30.34 million) in the first quarter this year. The Shanghai-listed carmaker released on Monday its … Continue reading Seres’ Q1 net profit hits $30.34 million

VDA opposes EU’s threat of punitive tariffs on Chinese EVs

Hildegard Mueller (center), president of the German Association of the Automotive Industry, visits BYD’s booth at the Beijing auto show on April 25, 2024. [Photo provided to chinadaily.com.cn] The European Union’s measures against Chinese EVs such as additional tariffs would not solve the challenges facing the European automotive industry, said Hildegard Mueller, president of the … Continue reading VDA opposes EU’s threat of punitive tariffs on Chinese EVs

Auto development gains speed in China, says Valeo executive

Valeo’s booth at the Beijing auto show that runs from April 25 to May 4, 2024. [Photo provided to chinadaily.com.cn] Automotive development in China is faster than ever, said a senior executive of French automotive supplier Valeo at the Beijing auto show that runs to May 4. Francois Marion, senior vice-president of the group’s corporate … Continue reading Auto development gains speed in China, says Valeo executive