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Tesla’s deliveries in mainland China fell 34.2 per cent month on month in October, slipping further following a 32.8 per cent drop in September, according to CPCA. The price increases will push consumers towards rivals, analyst says.
Chinese electric-car builder Leapmotor is to receive a €1.5 billion (US$1.58 billion) investment from Stellantis, formerly Fiat Chrysler, in the latest vote of confidence from a global carmaking giant in the mainland’s EV industry.
Chinese electric vehicle start-up BeyonCa has set its sights on the Middle East with the signing of a preliminary investment deal with Riyadh-based Al Faisaliah Group that is expected to help raise fresh funds and fuel growth.
China’s fast growing electric vehicle market has seen a proliferation of manufacturers at a time when demand was boosted by government subsidies. But rising costs and slowing demand are beginning to weigh on the smaller players who are now faced with the risk of elimination.
The European Commission will launch an anti-subsidy investigation against Chinese automakers, which may result in higher import duties on electric vehicles.
Chinese electric vehicle (EV) builders hit a roadblock after the European Commission (EC) launched an anti-subsidy investigation last week, which is likely to affect annual exports of more than 2 million battery-powered vehicles projected to be sold in the continent by 2030, reports the South China Morning Post. A potential decision to impose tariffs higher…
‘The revival of the MG brand shows China’s rising manufacturing might in the automotive sector,’ an analyst says, as SAIC leads the country’s push to overtake Japan in annual car exports this year.
Amid frantic competition, makers have reduced prices again to lure buyers, but the cuts could be the last for a while as sales are already strong and margins are thin, according to analysts.