Beijing Auto Show: Exporting that overcapacity, however, has brought EV makers to authorities attention. XPeng said a European probe into Chinese-made EVs could steer it to invest in plants or suppliers abroad, as the spectre of higher tariffs looms.
China Auto Market: VW s two joint ventures in China with FAW and SAIC took a combined 14.2% share in sales terms in 2023, down from 14.8% in 2022, according to data from the China Passenger Car Association (CPCA). Sales of SAIC VW and FAW VW include brands of VW, Audi and Jetta.
Beijing Hyundai Motor is selling the land use rights, equipment and other facilities belonging to its plant as the South Korean automaker rejigs its strategy in China amid fierce price competition and slowing demand. The original asking price was 3.68 billion yuan, and the statement did not give a reason for the reduction.
China price war favors the cars Beijing wants to phase out autonews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autonews.com Daily Mail and Mail on Sunday newspapers.
Lucid will provide Aston access to its powertrain technology in exchange for a small stake in the British marque. That and more in today's Morning Shift.