Etiqueta: Europe

The move comes as Chinese EV manufacturers such as BYD and SAIC Motor Corp.’s MG brand struggle to expand in Europe.

China’s BYD has announced its acquisition of German distributor Hedin Electric Mobility, a move aimed at strengthening its position as a major electric vehicle (EV) player in Europe. BYD and Hedin revealed the news on 30 August, according to Reuters. Under the deal, BYD Automotive GmbH will assume responsibility for the sales activities of BYD…

Chinese electric car giant BYD sold a record number of passenger vehicles in August, with sales of hybrids growing faster than those of battery-only cars.

Chinese electric vehicle (EV) maker BYD announced it will buy Hedin Electric Mobility (HEM), one of the companies that distributes its EVs in Germany, as part of the Chinese company's attempts at building a stronger presence in Europe. According to the agreement, BYD will take over sales of vehicles and parts in Germany, as well as management of BYD stores in Stuttgart and Frankfurt. Buying HEM will give BYD greater control of sales in Europe's largest auto market (2023 sales: 2.85 million) where the company sold a little over 4,000 vehicles last year.

BYD to buy Hedin Electric Mobility, gaining more control over sales in Germany.

Private prison operators, arms manufacturers and others who stand to gain from a Republican win in November have sustained stock market losses even as the Democratic candidate rises in the polls

Deal allows BYD to sell cars directly to dealers, giving it more leeway on pricing and availability

The new tariff on Chinese-made EVs will go into effect Oct. 1. A second round of consultations for other Chinese imports is also launching

The Government of Canada is imposing a 100% tariff on all imported Chinese-made electric vehicles (EVs) beginning October 1 this year, one of four measures the country has announced this week to address unfair international competition.

On August 20, 2024, the European Commission disclosed the draft decision on the anti-subsidy investigation (AS689) against battery electric vehicles (BEV) for passengers originating in China, disclosing that it intends to impose definitive countervailing duties of 17% -36.3% on Chinese exporters (the individual duty rate granted to Tesla is 9%).