Etiqueta: Industry

Auto manufacturers competing to persuade drivers to go electric are rolling out cheaper, more tech-rich models at the Paris Motor Show.

STORY: The Paris auto show kicked off Monday (October 14), with tensions over tariffs on China-made electric vehicles a big focus.The event is the largest car show in Europe and comes at a pivotal time.Struggling European automakers need to prove they can still compete.While Chinese rivals aim to get a foothold in a competitive market.There was some common ground, though.Executives from both regions warned about the dangers of EU tariffs.Stella Li is vice president of Chinese EV giant BYD.She said tariffs could stop poorer people buying EVs.Stellantis CEO Carlos Tavares also warned the duties could lead Chinese automakers to set up plants in Europe.That would add to overcapacity in the region and lead some local manufacturers to close factories.Nine Chinese brands including BYD and Leapmotor are due to unveil their latest models at this year's event.Two years ago, Chinese automakers made up almost half of the brands present.This year, they account for only about a fifth of the brands.Its due to a much stronger showing from Europe's auto industry - a sign of its determination to defend its home turf.Earlier this month, EU member states narrowly backed import duties on Chinese-made EVs of up to 45%, though opinions were split within the bloc.The EU aims to counter what Brussels calls unfair subsidies from Beijing to Chinese manufacturers.Beijing denies unfair competition and has threatened counter-measures.Europe's automakers, meanwhile, have endured a difficult period.German giants Volkswagen, Mercedes-Benz and BMW all issued profit warnings largely because of the weak Chinese market. Stellantis also slashed its earnings forecast because of inventory problems at its U.S. business.

China's BYD slams EU tariffs as rivalry heats up at Paris car show

PARIS (Reuters) -The EU's planned tariffs on Chinese-made EVs will lead to higher prices and deter buyers, Chinese EV giant BYD warned on Monday, adding the tariffs proposed for its vehicles were not a fair, but that it had also not challenged them. Li added that BYD had not yet decided what it's strategy would be to cope with the extra cost.

The EU needs to reassess its development strategy for the automotive manufacturing industry.

Paris Motor Show opens on October 14, showcasing a fierce competition between European and Chinese automakers, including major brands and innovative electric vehicles

China's automobile industry has shown steady growth in 2024, with vehicle production and sales risin

BYD Co., China’s bestselling car brand, may initially offer electric vehicles in Germany for between €25,000 ($27,340) and €30,000, Executive Vice President Stella Li said in a newspaper interview.

On September 26, 2024, the Department of Commerce’s Bureau of Industry and Security (BIS) published a Notice of Proposed Rulemaking that, if finalized, would prohibit the sale or import of certain automotive hardware and software, as well as “connected vehicles” incorporating this technology, from or linked to the People’s Republic of China or Russia.

Germany was one of five EU member states to oppose the introduction of EU tariffs on Chinese electric vehicles. What does this move say about Germany’s and Europe’s strategies toward Beijing?