Etiqueta: Tariffs

‘Kei’ car launch next year by China’s leading electric vehicle maker seen as ‘black ship’ moment for country

WASHINGTON (Reuters) -Global auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China – used in everything from windshield-wiper motors to anti-lock braking sensors – that could force the closure of car factories within weeks. In a previously unreported May 9 letter to Trump administration officials, the head of the trade group representing General Motors, Toyota, Volkswagen, Hyundai and other major automakers raised urgent concerns. "Without reliable access to these elements and magnets, automotive suppliers will be unable to produce critical automotive components, including automatic transmissions, throttle bodies, alternators, various motors, sensors, seat belts, speakers, lights, motors, power steering, and cameras," the Alliance for Automotive Innovation wrote the Trump administration.

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.

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.

BYD Expands Hungarian Presence with European HQ

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...

Indian auto production could grind to a halt within days due to Chinese export restrictions on rare earth magnets, according to company executives and documents from industry groups, which want the government to lobby Beijing to relax the curbs.

Brazil was set to host the first non-Asian factory for the EV giant. It's now suing the company instead

China’s electric vehicle (EV) giant BYD Co. has ignited a fresh wave of competition in the world’s largest auto market by slashing prices by up to 34% on 22 electric and plug-in hybrid models.