Etiqueta: Great Wall

TIANJIN, China, June 21, 2024 (GLOBE NEWSWIRE) -- The World Intelligence Expo 2024 kicked off on June 20 in northern Chinese port city Tianjin. For the first time in the expo's history, it was jointly hosted by Tianjin and western inland city Chongqing. A Media Snippet accompanying this announcement is available by clicking on this link. The four-day expo, themed "Intelligence: Extensive Development Space, Sustainable Growth Driver" is a high-end, international, professional, and market-oriented

Beijing on Thursday slammed EU tariffs on Chinese electric vehicles as protectionist behaviour even as the country's top auto exporter said the duties would not derail its expansion plans for Europe, including making EVs in Spain this year.

China has been accused of dumping cheap electric cars on EU countries. But poor sales, price wars and tariff threats have prompted a change of mood among some Chinese auto producers.

The EU is set to impose tariffs of up to 38% on Chinese electric vehicles to stop the dumping of cheap cars. But some auto producers are already scaling back investments in Europe due to poor sales.

To counteract market dumping, the European Union will slap tariffs of up to 38% on electric vehicles from China. This puts additional strain on China’s EV manufacturers, which already face poor sales in Europe.

Foreign politicians are "afraid" of Chinese firms, according to BYD Chairman Wang Chuanfu, who urged competition to speed up the industry's transition to EV.

BYD is building it first plant in Hungary, while Leapmotor will use a Stellantis factory in Poland, as Chery eyes production in Spain and possibly Italy; Great Wall, SAIC and Dongfeng are also assessing opportunities

European governments may be wary of budget Chinese electric vehicles flooding their markets but they're also fiercely competing for a share of the manufacturing investment and jobs the new competitors bring. While the European Union investigates China's auto subsidies and considers tariffs on imports, national governments across the bloc are dangling their own incentives to attract Chinese automakers looking to build European factories. Manufacturing costs for Chinese EV makers including BYD, Chery Automobile and state-owned SAIC Motor are much lower at home but they are nonetheless keen to set up in Europe to build their brands and save on shipping and potential tariffs, said Gianluca Di Loreto, a partner at consultancy firm Bain & Company.

The latest generation of BYD’s DM hybrid system slashes fuel consumption while extending EV driving range.