Etiqueta: Volkswagen

Chinese brands surged 121% year on year in April automotive sales, with BYD dethroning Tesla as the bestselling BEV brand, figures released by JATO Dynamics show. EV sales outperformed an otherwise flat market. Overall, a total of 1,078,521 new cars were registered across 28 European countries in April, just 1,399 more than the same month last year. The year to date total of 4,467,681 units was just 6,560 units more than in the first four months of 2024.

From aggressive pricing to global expansion and grid integration, we explore how China’s evolving EV strategy is reshaping the global landscape, international partnerships, and infrastructure transformation.

Recently, the automotive industry has been in an uproar: Great Wall Motors' Chairman Wei Jianjun's statement "the Evergrande of the automotive industry already exists, it just hasn't exploded yet" instantly ignited public opinion. Although no names were mentioned, all eyes are on BYD, which has liabilities of 594.3 billion yuan. At the same time, BYD launched the largest price cut in history during the "618" shopping festival, with 22 models seeing discounts of up to 53,000 yuan, directly causing a major dip in the new energy vehicle sector. This move has made investors restless: on one hand, there's the overwhelming "Evergrande theory," and on the other, a fierce price war...

China's export restrictions on rare earths that are widely used by the auto industry could disrupt, or even halt, German car production, Germany's VDA auto industry lobbying group said on Tuesday.

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.

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.

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.

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.