Etiqueta: exports

WASHINGTON (Reuters) -Global auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China – used in everything from windshield-wiper motors to anti-lock braking sensors – that could force the closure of car factories within weeks. In a previously unreported May 9 letter to Trump administration officials, the head of the trade group representing General Motors, Toyota, Volkswagen, Hyundai and other major automakers raised urgent concerns. "Without reliable access to these elements and magnets, automotive suppliers will be unable to produce critical automotive components, including automatic transmissions, throttle bodies, alternators, various motors, sensors, seat belts, speakers, lights, motors, power steering, and cameras," the Alliance for Automotive Innovation wrote the Trump administration.

China said it would cooperate further with other countries over its rare earth export controls as shortages put auto and semiconductor makers in Europe and India at risk of closure.

Indian auto production could grind to a halt within days due to Chinese export restrictions on rare earth magnets, according to company executives and documents from industry groups, which want the government to lobby Beijing to relax the curbs.

Shares in Chinese electric vehicle (EV) makers slumped on Monday despite surging interest from UK buyers, as industry titan BY introduced a round of new price cuts in an already bruising market battle. Hong-Kong listed BYD dropped as much as 8.25 per cent from a record high set last week, after an announcement over the [...]

Build Your Dreams (BYD) establishing a base in Hungary proves that BYD has landed on European soil and is proving to be a threat for EV rival Tesla.

The Seagull, rebranded in Europe as the Dolphin Surf, went on sale in 15 European countries on Wednesday.

More support will be given to key sectors of the South Korean economy affected by the United States' tariffs, the government said in Seoul on Wednesday, even as the second round of technical discussions with Washington took off.

At the Shanghai Auto Show, humanoid machines stole the spotlight, now they’re headed to the factory floor.

As Volvo struggles with falling EV sales, sister brand Geely surges ahead.