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Germany’s DAX added 0.1% to 17,959.35 and the FTSE 100 in London edged 0.1% higher to 7,731.73. Markets are awaiting a decision by the Bank of Japan on Tuesday on whether to raise its benchmark interest rate for the first time in 17 years. The Hang Seng in Hong Kong edged 0.1% higher to 16,737.12, and the Shanghai Composite index gained 1% to 3,084.93. Elsewhere, Australia’s S&P/ASX 200 edged 0.1% higher to 7,675.80, and the Kospi in South Korea advanced 0.7%, to 2,685.84. A report on consumer prices last week showed inflation remains stubborn, ticking up to 3.2% in February from 3.1% in January.

Persons: Germany’s DAX, Australia’s Organizations: Japan’s, Federal Reserve, CAC, Dow Jones, Nikkei, Bank of Japan, Honda Motor, Dongfeng Motor, Nasdaq, Software, Adobe, Microsoft, Broadcom, Google, University of Michigan, Fed, Traders, CME Group, New York Mercantile Exchange, Brent, U.S Locations: HONG KONG, London, Paris, Tokyo, Hong Kong, Shanghai, China, South Korea, India, Bangkok, U.S

Main auto partner Chongqing Changan Automobile (000625.SZ) and relevant parties will own up to 40% of the new firm, a Changan Auto statement showed on Sunday. Neither Changan Auto nor Huawei disclosed financial details. Changan Auto referred Reuters to its Sunday statement and declined to comment further. Huawei has partnerships with other auto companies, including Seres Group (601127.SS) and Jianghuai Automobile (600418.SS), as well as with Changan Auto involving EV brands Avatr and Deepal. The proposed deal will also smooth the way for the business' listing, as Huawei had planned, said two of the people.

Persons: Ren Zhengfei, Ren, Richard Yu, Julie Zhu, Zhuzhu Cui, David Kirton, Brenda Goh, Christopher Cushing Organizations: Huawei Technologies, Changan Auto, Bosch, Chongqing Changan Automobile, Huawei, Auto, China Ordnance Equipment Group, China South Industries, FAW Group, Dongfeng Motor, HK, Reuters, Seres, Jianghuai, Changan, EV, Thomson Locations: HONG KONG, SHANGHAI, Chongqing, China, Changan, Shanghai

☆ Stellantis buys back shares worth $1 bln from Chinese JV partner Dongfeng
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +1 min

The Stellantis logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsNov 22 (Reuters) - Chrysler-parent Stellantis (STLAM.MI) said on Wednesday it has repurchased 50 million common shares from Dongfeng Motor (Hong Kong) International (0489.HK) for about 934 million euros ($1.02 billion). Stellantis, which has a joint venture with Dongfeng Motor in China, said it plans to cancel these shares and the transaction with Dongfeng would not impact its 1.5 billion euros open-market repurchase program. Chinese automaker Dongfeng would retain 49.2 million common shares, which represents 1.58% of Stellantis' share capital post-cancellation. ($1 = 0.9168 euros)Reporting by Priyamvada C in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: David, Dee, Delgado, Priyamvada, Shilpi Majumdar Organizations: New York, REUTERS, Chrysler, Dongfeng, HK, Thomson Locations: Manhattan , New York City, U.S, Hong Kong, China, Bengaluru

☆ Japanese carmaker Mitsubishi ending production in China, world's biggest car market
▼ + stars: | 2023-10-25 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Mitsubishi Motors will stop producing vehicles in China, in the latest sign of retreat by foreign automakers in the world’s biggest car market. Following weeks of speculation, the Japanese carmaker confirmed Tuesday that it would wind down local manufacturing and exit a long-running joint venture in mainland China. The move came days after Stellantis, home to brands such as Jeep and Chrysler, moved to withdraw further from China, too. Stellantis continues to sell imported vehicles in China through dealerships. The Japanese firm will pour up to €200 million ($212 million) into Ampere, helping it push further into the European market.

Persons: ” Mitsubishi, “, Stellantis, Dongfeng, Ampere Organizations: Hong Kong CNN — Mitsubishi Motors, Mitsubishi, Guangzhou Automobile Group Company, GAC, Chrysler, Dongfeng Motor, Peugeot, Renault Locations: China, Hong Kong, Wuhan, Xiangyang, French

☆ EV brand Beyonca signs investment deal with Saudi Arabian group
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: 1 min

Beyonca's GT Opus 1 concept car is unveiled during an event at the electric vehicle (EV) start-up's headquarters in Beijing, China October 30, 2022. REUTERS/Florence Lo/File Photo Acquire Licensing RightsBEIJING, Oct 23 (Reuters) - Electric vehicle brand Beyonca, backed by Renault (RENA.PA) and Dongfeng Motor (0489.HK), said on Monday that it signed an investment agreement with Riyadh-based Al Faisaliah Group Holding Company. At the signing ceremony at Dongfeng Motor's headquarters in the central Chinese city of Wuhan, Beyonca also inked a strategic cooperation deal with QG FZE-LLC regarding investment opportunities in the Middle East, according to the EV brand. Reporting by Beijing newsroom; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence, Beyonca, QG, Jamie Freed Organizations: REUTERS, Rights, Renault, HK, Al, Group Holding, Beijing, Thomson Locations: Beijing, China, Rights BEIJING, Riyadh, Wuhan

☆ UK EV supplier Bedeo launches electric van conversions in France
▼ + stars: | 2023-09-27 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

Protean Electric CEO Andrew Whitehead and Bedeo CEO Osman Boyer pose with a diesel van that has been converted into an electric hybrid by Bedeo using Protean in-wheel motors, in Farhnam, Britain, September 26, 2023. In order to qualify for French subsidies Bedeo, which makes electric powertrains for vans for world No. Bedeo acquired Protean Electric in 2022 from a unit of China Evergrande Group. Chinese carmaker Dongfeng Motor (0489.HK) has built small tests fleets using Protean in-wheel motors and is looking at launching new models with them around the middle of the decade, Protean CEO Andrew Whitehead said. Whitehead said a couple of other Chinese carmakers and three major European carmakers are also looking at using Protean's in-wheel motors.

Persons: Andrew Whitehead, Osman Boyer, Nick Carey, Bedeo, Boyer, Stellantis, Whitehead, Sharon Singleton Organizations: Protean, REUTERS, EV retrofitters, Reuters, Protean Electric, China Evergrande Group, HK, Thomson Locations: Farhnam, Britain, France, China

☆ China's Xpeng says German carmakers ready to tackle crisis as EV race hots up
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsMUNICH, Sept 6 (Reuters) - German carmakers are ready to tackle their worst crisis, an executive at Chinese EV maker Xpeng said on Wednesday, as China's carmakers expand overseas, putting pressure on Europe in the race to electrify. Globally, China leads EV sales, the latest data from tech industry researcher Counterpoint shows. The U.S. has the fastest growing EV sales with Germany in third place. "The Chinese companies are flooding into overseas markets like mushrooms, deepening their sense of crisis," Gu said. German Chancellor Olaf Scholz said EV competition from abroad should be a spur, not a worry for German carmakers.

Persons: Olaf Scholz, Hildegard Mueller, Markus Soeder, Angelika Warmuth, Xpeng, Brian Gu, Gu, Jia Jianxu, Zheng, Zhang Yan, Victoria Waldersee, Josephine Mason, Elaine Hardcastle Organizations: German Association of, Automotive, REUTERS, Rights, HK, IAA, EV, Germany, Reuters, Volkswagen, SAIC, Xuanyuan Academy, Germany's IAA, New Energy Vehicle Congress, Gang, Thomson Locations: Bavarian, Munich, Germany, Europe, Xpeng, China, U.S, Britain, France

☆ China's Xpeng says German carmakers ready to tackle crisis in EV race
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +4 min

Globally, China leads EV sales, the latest data from tech industry researcher Counterpoint shows. The U.S. has the fastest growing EV sales with Germany in third place. Chinese companies including Xpeng, BYD and Leapmotor (9863.HK) are seeking the higher margins and faster growth overseas markets can offer, which means they are challenging European companies on their home turf with cheaper models. "The Chinese companies are flooding into overseas markets like mushrooms, deepening their sense of crisis," Gu said. German Chancellor Olaf Scholz said EV competition from abroad should be a spur, not a worry for German carmakers.

Persons: Olaf Scholz, Hildegard Mueller, Markus Soeder, Angelika Warmuth, Xpeng, China's carmakers, Brian Gu, Gu, Mueller, ” Gu, “, ”, Jia Jianxu, Zheng, Zhang Yan, Victoria Waldersee, Josephine Mason, Elaine Hardcastle Organizations: German Association of, Automotive, REUTERS, Rights, HK, IAA, Automotive Industry, EV, Germany, Reuters, Volkswagen, SAIC, Xuanyuan Academy, Germany's IAA, New Energy Vehicle Congress, Gang, Thomson Locations: Bavarian, Munich, Germany, Europe, China, U.S, Britain, France

For Nissan, that means contending with an increasingly grim outlook for foreign automakers in China, the world's biggest car market. AMPERE INVESTMENTNissan said it would invest up to 600 million euros ($663 million) in Renault's electric vehicle unit, Ampere. Renault, meanwhile, will lower its stake in Nissan to 15% from around 43%, putting their relationship on equal footing. The investment in Ampere is consistent with Nissan being a strategic investor and securing a board seat on the new company, Nissan said. Nissan had flagged in February that it would invest a maximum 15% in Ampere, but the exact size of its stake remained unclear.

Persons: Gonzalo Fuentes, Makoto Uchida, AlixPartners, Nissan, Ampere, Gilles Guillame, Daniel Leussink, David Dolan, Miral Organizations: Renault, Viva Technology, Porte de, REUTERS, Investment, Nissan, Reuters, North America, Dongfeng Motor Group, Ampere, Qualcomm, Mitsubishi Motors, Thomson Locations: Porte, Paris, France, TOKYO, PARIS, Renault's, China, Japan, North, U.S

☆ Explainer: What's behind China's failed 'truce' in EV price war?
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +5 min

[1/2] A Tesla Model 3 electric vehicle (EV) is displayed at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. Toyota (7203.T) offered a discount on its bZ4X EV, and Nissan (7201.T) offered an incentive on its Ariya EV. Volkswagen's (VOWG_p.DE) joint ventures with SAIC and FAW also announced price cuts in China on their ID-series EVs on Friday. AlixPartners said while China's EV market will continue to grow rapidly, intensifying competition and excess capacity will also drive a shakeout. In one example, Chinese automakers have invested $1.4 billion in Thailand since 2020, now dominating the Thai EV market after taking share from the Japanese brands that have long operated there.

Persons: Florence Lo, Tesla, CAAM, Li Auto, Liu Xu, furloughs, AlixPartners, Zhang Yan, Kevin Krolicki, Tom Hogue Organizations: Tesla, Fair for Trade, Services, REUTERS, China Association of Auto Manufacturers, stoke, HK, Volvo, Chery Automobile, Global, Ford, Toyota, Nissan, EV, General Motors, Honda, Consultancy, Consumers, SAIC, GAC, Dongfeng, FAW Group, China's Ministry of Industry, Information Technology, FAW, National Strategy Institute of Tsinghua University, International, Hyundai, Thai EV, Thomson Locations: Beijing, China, Shanghai, Europe, Southeast Asia, Thailand, Singapore

☆ Ford and GM follow Tesla's lead and wade into China price war by offering big discounts to boost sales, report says
▼ + stars: | 2023-03-19 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Ford and GM are among dozens of carmakers offering deep discounts on cars in China to boost sales. Tesla was among the first to slash its prices after China ended its electric vehicle subsidies. Tesla was one of the first carmakers to cut prices in the US and Europe as well as China. In January it cut US prices of the Model 3 sedan by 14% and Model Y by 20%. It then lowered prices this month on the Model S sedan by $5,000 and its Model X by $10,000.

☆ Volkswagen joins China price war as new emissions rule looms
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +2 min

Guangzhou Automobile Group, the Chinese partner of both Honda Motor Co Ltd and Toyota Motor Corp (7203.T), has also offered subsidies running from March 15 to March 31. Chinese passenger vehicle sales fell 20% in January-February, industry data showed, even as some manufacturers offered reduced prices to stimulate demand. Sales of new energy vehicles, which include all-battery and plug-in battery-petrol hybrid vehicles, grew faster than the overall market, accounting for over 30% in February. In the same month, Chinese electric vehicle maker BYD Co Ltd (002594.SZ) outsold Volkswagen-branded cars for the second month in four. ($1 = 6.8923 Chinese yuan renminbi)Reporting by Zhang Yan and Brenda Goh; Editing by Himani Sarkar and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Honda to recall 200,000 hybrid vehicles made in China -regulator
▼ + stars: | 2022-12-29 | by ( Casey Hall | ) www.reuters.com time to read: +1 min

SHANGHAI, Dec 29 (Reuters) - Honda (7267.T) will recall just over 200,000 hybrid vehicles due to issues with brake pedal sensors in some models, China's State Administration for Market Regulation said in a statement on Thursday. A total of 105,608 hybrid vehicles produced between Oct. 8, 2018 and Sept. 7, 2020 by the Japanese carmaker's venture with Dongfeng Motor Group Co. (600006.SS) would be recalled, along with another 95,081 units from Honda's manufacturing partnership with Guangzhou Automobile Group Co. (601238.SS) made between August 27, 2018 and August 6, 2020. The issue relates to lubricating oil introduced into brake pedal sensors during the manufacturing process which could cause issues with the sensors over time, and the recall would begin from March 31, 2023, the statement added. Reporting by Casey Hall; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.

☆ Japan's Honda launches new EV model in China
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 5 (Reuters) - Japan's Honda Motor Co (7267.T) unveiled the second model of its new China-only electric vehicle (EV) lineup on Saturday, targeting the fast-growing, battery-driven car segment in the world's largest auto market. It began selling the first model in China in April. "Honda is transforming itself into an electric brand in China with a series of unique and diverse electric mobility products that only Honda can offer," said Honda CEO Toshihiro Mibe in a statement. Honda laid out a target to roll out 30 EV models globally and produce some 2 million EVs a year by 2030 earlier this year. Last year, it said it would introduce only electrified vehicle models in China after 2030, including battery electric, hydrogen fuel-cell or petrol-electric automobiles.

☆ Honda launches new EV model in China
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +1 min

☆ Renault-backed Beyonca EV venture touts health monitoring, targets Audi in China
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +3 min

Soh, Beyonca's chairman, said the company was targeting the high-end premium segment, where they would compete with models such as Audi's A8L, BMW's 7 Series and Mercedes' S Class. Soh said that by the time the car was launched, third generation EV technology would offer faster charging times and longer driving ranges. Soh acknowledged the difficult backdrop but pointed to steady growth in the premium car segment, which he said had potential annual sales of 3 million cars in China. He declined to say how much Beyonca had raised from investors or how large a stake Renault and Dongfeng held in the company. Beyonca is headquartered in Beijing and has a design center in Munich and an artificial intelligence development hub in Singapore.

☆ In-wheel motors could be the future of electric cars
▼ + stars: | 2022-10-26 | by ( Nell Lewis | ) edition.cnn.com time to read: +7 min

Mounted in the rim of an electric vehicle’s wheels, the motors increase efficiency by delivering power directly to where it’s needed most. Supercars and pickup trucksElaphe, which was founded in 2006 by Gorazd Lampič and quantum physicist Andrej Detela, has designed in-wheel motors for a range of electric vehicles. In-wheel motors are far more exposed to the elements as well as impacts and vibrations from the road. The report notes that as electric vehicles become more popular, automakers are looking towards in-wheel motors for their space-saving abilities and improved power efficiency. Another major player is Protean Electric, which was acquired by British electric vehicle maker Bedeo in 2021.

☆ Daimler Truck begins producing Mercedes-Benz branded trucks in China
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

Visitors surround an Actros truck of German truck maker Mercedes-Benz at the IAA truck trade fair in Hanover, Germany September 19, 2018. REUTERS/Fabian Bimmer/File PhotoBERLIN, Sept 23 (Reuters) - Daimler Truck (DTGGe.DE) has begun producing Mercedes-Benz branded trucks in China, with the first vehicles rolling off production lines at its joint plant with China's Foton Motor Co (600166.SS) in Beijing on Friday, the truck and bus maker said. China is the world's biggest market for heavy trucks, with around 1.5 million units sold in 2021 - more than in the U.S., Japan and Europe combined, according to data from German car association VDA. Daimler Truck has so far only produced the joint venture's brand, Auman, in China, while selling Mercedes-Benz trucks imported from Germany at a higher price. A document seen by Reuters in 2020 on plans for the revamp of the joint plant to begin heavy truck production said the target was to produce 50,000 Actros trucks a year.

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