Etiqueta: Germany

Chinese electric vehicle giant BYD is considering Germany for a possible third assembly plant in Europe, a source familiar with the matter told Reuters, after the region's biggest economy and car market opposed EU tariffs on China-made EVs last year. Chinese carmakers are looking to set up manufacturing and assembly plants in Europe as they seek to sell more lower-cost cars in the region to challenge European competitors as demand slows in China, the world's largest car market. Executive vice-president Stella Li said in an interview earlier this month with Automobilwoche that BYD was considering a third facility to serve the European market in the next two years - in addition to the two it is building in Hungary and Turkey - but she did not say where.

Chinese electric vehicle giant BYD is contemplating the establishment of its third assembly plant for new energy vehicles (NEVs) in Germany. This consideration…

Volkswagen is considering a shift towards military production as its auto business faces challenges, including high costs and declining profits. CEO Oliver Blume stated the company is open to exploring military vehicle production. This move comes amid increased European military spending and Volkswagen's need to support its struggling business. Potential collaborations with defence companies like Rheinmetall are being discussed.

The group sold more currywurst units than cars as profits after tax fell 30 per cent

Tesla (TSLA) shares stumble as the electric vehicle (EV) maker records its fifth consecutive month of declining shipments in China amid competition from domestic EV companies like BYD Company (1211.HK). Tesla has seen declining sales in other regions, including Germany and other European countries, as CEO Elon Musk breaks into right-wing politics. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Naomi Buchanan.

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