Etiqueta: News

A major BYD dealer in China shut down over 20 stores citing dealer policy changes as BYD expands into Europe.

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...

SHANGHAI (Reuters) -A large dealer of Chinese electric vehicle maker BYD's cars in the eastern province of Shandong has gone out of business with at least 20 of its stores found to be deserted or shut, government-owned media reported. The Jinan Times, which is owned by the government of the provincial capital of Jinan, reported on Wednesday that Qiancheng Holdings, which ran BYD stores, had fallen into difficulties, affecting more than 1,000 consumers who were still owed warranty coverage and after-sales services. The affected stores are spread across four cities, including Jinan and Weifang, the newspaper said, citing visits it had made.

The fight to secure Chinese auto licensees is expanding quickly

One day after BYD (BYDDY) overtook Tesla’s (TSLA) market share in Europe, the Chinese EV maker and two of its contractors were sued by the Brazilian government for subjecting 220 Chinese workers in the South American country to “slavery-like conditions.”

Brazilian labour prosecutors have initiated legal action against Chinese carmaker BYD, accusing the company and its contractors of human trafficking.