Etiqueta: Industry

The Chinese automaking giant sold 382,476 vehicles last month, according to a statement Sunday. Of those, passenger cars were 376,930.

China’s automobile industry association warned against “vicious competition,” days after BYD Co.’s price cuts fueled market concerns of a discount war that would further weigh on profits of electric carmakers.

A top industry group had a stern rebuke Saturday for automakers fuelling a "price war", a week after Chinese EV giant BYD announced sweeping trade-in discounts, with multiple competitors following suit.Days later, Stellantis-backed Chinese EV startup Leapmotor announced similar discounts on two "entry-level" models through June 8.

Toyota's partnership with BYD on the China-exclusive bZ5 electric crossover demonstrates Toyota's strategic effort to understand BYD's cost-effective EV production, offering a competitively priced vehicle that could potentially succeed in the US.

Siemens EDA, Cadence, and Synopsys have received notices from the U.S. Commerce Department about new export controls on chip design software to China.

BEIJING (Reuters) - Tensions between two of China's largest automakers erupted into the open on Friday when a BYD executive slammed as alarmist comments by the chief of Great Wall Motor that called the industry "unhealthy". Shares in Chinese automakers such as BYD, Nio and XPeng tumbled this week after the chairman of Great Wall Motor, Wei Jianjun, worried openly about China's deepening price war

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.

BYD's brand chief refuted recent allegations based on metrics including debt ratio, total debt, and payment cycles to suppliers.

Magna, Forvia and Aptiv have had early success in winning new business with Chinese automakers overseas. The prospect of speed is often the key to closing a deal.

Tesla's sales in Europe and the UK have plummeted by nearly half, according to a report by tech news outletTechCrunch on Tuesday. The European Automobile Manufacturers Association (ACEA) revealed that Tesla sold just 7,261 vehicles in the European Union (EU), European Free Trade Association (EFTA), and the UK in April, marking a steep 49% decline c...