DIRS.INFO The most relevant business & tech news

☆ Will China's comeback stock rally last? Wall Street weighs in and shares stock picks
▼ + stars: | 2024-05-07 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

China stocks have staged such a strong rally after a protracted slump for the past few years that they're beating even the S & P 500 so far this year. The MSCI China index, which includes the mainland A-shares, Hong Kong-listed shares and U.S.-listed China names, has jumped around 9%, while the KraneShares CSI China Internet ETF is up around 13%. Most analysts said whether the rally can be sustained will largely depend on China policy. How to play China Though most were bullish on China stocks, they would be selective in stock-picking. They include: SPDR S & P China ETF iShares MSCI China A ETF Global X MSCI China Consumer Disc ETF iShares MSCI Hong Kong ETF — CNBC's Michael Bloom contributed to this report.

Persons: Bernstein, it's, —, Goldman Sachs, Kevin Liu, CICC, Nomura's, Goldman, Kweichow, Ping, Morningstar, Michael Bloom Organizations: U.S, CSI China, Investors, CICC Research, CNBC, BYD, SAIC, Changan Automobile, Energy, Anhui, Cement, JPMorgan, Kuaishou, Ping An Insurance, China Merchants Bank, Hong, China, iShares, China Consumer Locations: China, Hong Kong

☆ U.S. automakers like GM are rapidly losing ground in China, once an engine for growth
▼ + stars: | 2024-05-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

China was once a profit engine for GM, and its top sales market from 2010 to 2023. GM revealed several vehicles last week in China, including plug-in hybrid versions of its Buick GL8 minivan, a best-seller in China, and the Chevrolet Equinox crossover. "We think clearly that market has shifted and the landscape has shifted … with the capability of the Chinese [automakers]," Barra said. But it has had to aggressively cut prices to compete against Chinese automakers such ay BYD, Nio and others. Stellantis CEO Carlos Tavares earlier this year called Chinese automakers his company's "No.

Persons: Mary Barra, Jeff Kowalsky, we're, Barra, Paul Jacobson, GM wasn't, John Murphy, Michael Dunne, Dunne, Mark Fulthorpe, They'll, they've, Tesla, lockdowns, Elon Musk, Tingshu Wang, Reuters Tesla, Morgan Stanley, Adam Jonas, Musk, Junheng Li, Stellantis, Carlos Tavares, Zhu Jiangming, We've, We're, Ford, John Lawler, Lawler Organizations: General Motors Co, Bloomberg, Getty, General, GM, U.S, Chevrolet, SAIC, GM Pan, Asia Automotive Technology Center, Nurphoto, PSA Groupe, Chrysler, EVs, GM's, Buick, Wuling Motors, Motors, Bank of America Securities, China, Hummer, Durant Guild, America's, Detroit, P Global Mobility, Ford Motor, Tesla, Reuters, EV, Baidu, Warren Capital, Ford, Guangzhou Automobile Group, India & Asia, Lincoln, Lincoln Nautilus Locations: Detroit , Michigan, China, Barra, Beijing, Asia, Shanghai, Russia, India, Thailand, Australia, North America, South Korea, Brazil, Europe, GM's U.S, Qingdao, East China's Shandong, Indonesia, U.S, Nio, Greater China, South America

☆ China's automakers must adapt quickly or lose out on the EV boom in the face of regulatory scrutiny abroad and competition at home
▼ + stars: | 2024-05-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The automaker is the joint venture partner of Honda and Toyota in China, and has an electric car brand called Aion. Expanding outside ChinaLike other automakers in China, GAC is also turning overseas. China's overseas car sales surged last year, putting the country on par with Japan as the world's largest exporter of cars. Dyer expects that to drive overseas demand for Chinese electric cars. Chinese consumers placed almost twice as much importance on tech features compared with U.S. consumers, Dyer said, citing AlixPartners' survey.

Persons: Evelyn Cheng, Tesla, Feng Xingya, Feng, Wei Haigang, Wei, Stephen Dyer AlixPartners, There's, Stephen Dyer, AlixPartners, Dyer, BYD, Nio, CATL, Zhong Shi Organizations: CNBC, GAC, Labor, Huawei, Honda, Toyota, China Passenger Car Association, EU, U.S, Factories, Greater China Business U.S, Ministry of Commerce, Tech, Volkswagen, SAIC Motor, Battery, China Automobile Dealers Association, Automotive, Robotics, Lotus Technology, Geely Locations: Beijing, Evelyn Cheng BEIJING, China, East, Mexico, Japan, Malaysia, Thailand, Egypt, Brazil, Turkey, Amsterdam, Greater China, Asia, U.S, Europe

☆ Inside a Michigan Town's War Over a Chinese-Owned Battery Plant
▼ + stars: | 2024-03-10 | by ( Brent Crane | ) www.businessinsider.com time to read: +24 min

This was nothing short of a communist invasion, in his eyes, and the patriots of Green Charter needed to rise up and confront the Red Peril. But the backlash in Green Charter represents something seldom seen since the Red Scare: a quasi-militant, homegrown resistance to the perceived threat of communism at home. But as the war over Gotion began to consume Green Charter, Riebow began to feel that the township board was behaving "too secretly." It's easy to dismiss what's happened in Green Charter as yet another sign of America's descent into dangerous incivility. Asked about Gotion's plans in Green Charter, Panetta replied, "I don't think there's any question that they are going to take advantage of that situation."

Persons: Jeff Peticolas, Sam Peticolas, He'd, Peticolas, Gos, Green, Matt Harrison Clough, Jim Chapman, I've, Chapman, freaked, Rush Doshi, Joe Biden's, Doshi, Donald Trump, Sen, Katie Britt, Lori Brock, Kristina Karamo, Lana Theis, John Moolenaar, it's, Gotion, John Holdsworth, I'm, Tracy Ruell, Ruell, Carlleen Rose, she'd, Suzi, Tim Hahn, Hahn, texted Hahn, Jeff, Corri Riebow, She'd, Riebow, Breitbart, Gretchen Whitmer, —, we've, Holdsworth, Jason Kruse, Kruse, that's, Kruse demurred, Hahn's, we're, We're, what's, William Evanina, Leon Panetta, Barack Obama's, Panetta, Brent Crane Organizations: Imperial, Pacific, Nikon, Ferris State University, Tech, Green Charter, BI Green Charter, Michigan, United States, Chinese Communist Party, Michigan Republican Party, Michigan GOP, WE, Republican, Republicans, Gotion, Treasury Department, BI, CCP politburo, Party, Communist Party of China, SAIC, Nexteer Automotive, Facebook, Big Rapids, Local, Moolenaar, Fox News, Daily Mail, Gov, Green Charter's, Ferris State, Big, FBI Locations: Pearl, He'd, Imperial Japan, Vietnam, Mecosta County , Michigan, American, Green Charter, Green, China, Green Charter's, Montana, Beijing, Arkansas, Reedley , California, Manteno , Illinois, Washington, America, United, United States, Biden's State, Alabama, Mecosta County, Michigan, Sweden, Big Rapids, enervated, Gotion, Northern Michigan, USA, Filipino, Charter, San Diego

That adds to tech-related tensions between the West and China, which is one of Europe’s biggest trading partners and the world’s biggest auto market. Chinese EV makers are drawn to Europe because auto import tariffs are just 10% versus 27.5% in the U.S., independent auto analyst Matthias Schmidt said. MG — owned by SAIC Motor, China’s biggest automaker — is the largest Chinese EV player in Europe. One reason Chinese companies can offer high-quality cars at affordable prices stems from the rules to enter the Chinese market. Chinese EV makers, meanwhile, are trying to stand out in a crowded field.

Persons: Laima Springe, Janssen, “, ” Springe, I’m, ”, Matthias Schmidt, John Kirkwood, —, Kirkwood, Warren Buffett, Ursula von der Leyen, Alfa, China’s EVs, Carlos Tavares, we’re, Alexander Klose, ” Klose, Schmidt, Justin Nicholls, Nicholls Organizations: Volvo, Nissan, Skoda, Union, EV, Volkswagen Passat, Kia, MG, SAIC Motor, China’s, —, Lotus, Chinese Commerce Ministry, EU, World Trade Organization, Tesla’s, Peugeot, Citroen, Alfa Romeo, Fiat, Global, Wall Motors Locations: Copenhagen, Denmark, Europe, China, West, U.S, British, Western, France, Germany, Beijing, Shenyang, Shanghai, Israel

☆ Exclusive: China's Nio explores investment, tech alliances with Mercedes - sources
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +5 min

Nio, when contacted, denied it talked to Mercedes on a collaboration, calling it "untrue", without elaborating. Mercedes said in a separate response that there were no collaboration plans with Nio at the moment. Chinese EV companies may also be able to navigate potential trade barriers better by forging such tie-ups. Nio, whose investors include Chinese tech giant Tencent Holdings (0700.HK), has publicly called for more such tie-ups with established automakers. ($1 = 7.3127 Chinese yuan renminbi)Reporting by Zhang Yan and Brenda Goh; Additional reporting by Ilona Wissenbach in Frankfurt; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: William Li, Ola Kaellenius, Nio, Mercedes, Leapmotor, Elon Musk, Tesla, Nio's Li, Zhang Yan, Brenda Goh, Ilona Wissenbach, Muralikumar Organizations: HK, Mercedes, Benz, Nio, EV, Volkswagen, SAIC, Audi, VW's, Tencent Holdings, Thomson Locations: SHANGHAI, China, Tesla, Frankfurt

☆ PetroChina buys EV charging firm Potevio New Energy
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

Model of petrol pump is seen in front of PetroChina logo in this illustration taken March 25, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSept 8 (Reuters) - PetroChina has acquired 100% of electric vehicle (EV) charging firm Potevio New Energy Co Ltd in the latest lower-carbon investment by China's top oil and gas company, parent CNPC said on Friday. Set up in 2010, Potevio New Energy was among China's first state-owned companies engaged in EV charging network building and operations. It ran 50,000 charging points in more than 50 Chinese cities as of end-2021, according to its official WeChat account. PetroChina last month set up a new entity based in the southeastern city of Putian in Fujian province to focus on investing and operating EV charging facilities.

Persons: Dado Ruvic, CNPC, PetroChina, Jason Neely Organizations: REUTERS, PetroChina, New Energy Co Ltd, Potevio, Energy, EV, SAIC Motor Corp, Beijing, Thomson Locations: Putian, Fujian

☆ China's Leapmotor looks to sell EV tech as it targets export growth
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +3 min

"For us, to survive, we have to achieve at least 500,000 to 1 million units of annual sales globally. The top 10 automakers in the world all have annual sales of more than 4 million units. Leapmotor had sales of almost 111,000 EVs in China in 2022, up from just over 44,000 in 2021. With European automakers scrambling to take a larger share of an EV boom in China that has largely left them behind, several have been looking at or licensing EV technology developed in China. Reporting by Zhang Yan in Munich, writing by Kevin Krolicki; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Zhu Jiangming, Leonhard Simon, Leapmotor, ” Zhu, Xpeng, Zhu, Zhang Yan, Kevin Krolicki, Hugh Lawson Organizations: REUTERS, Rights, HK, Reuters, Volkswagen, Toyota, Audi, SAIC Motor Corp, VW, Thomson Locations: Munich, Germany, China, Europe, Australia, New Zealand

India's EV market is small, with Tata Motors (TAMO.NS) dominating sales that made up less than 2% of all cars sold last fiscal year. All sources declined to be identified as the talks are still ongoing and a final decision has not been made. Founded in 2015, Leapmotor has less than 2% share of China's fragmented EV market, where it sells four mass market electric models. This has also forced MG Motor India to find local investors like JSW so it can raise equity. Leapmotor also has been in partnership talks with other major automakers, including Stellantis (STLAM.MI) and Volkswagen (VOWG_p.DE), according to media reports.

Persons: JSW, Leapmotor, Sajjan Jindal, Aditi Shah, Zhang Yan, Neha Arora, Kim Coghill Organizations: REUTERS, DELHI, HK, MG Motor India, China's SAIC Motor Corp, EV, Tata Motors, MG Motor, Ford, JSW, Volkswagen, Thomson Locations: Jinhua, Zhejiang province, China, India, EVs, New Delhi, Shanghai

☆ India is warming up to a cooling China
▼ + stars: | 2023-08-28 | by ( Shritama Bose | ) www.reuters.com time to read: +4 min

A screening policy that dramatically slowed investments into India looks ripe for some fine-tuning. India appears to be warming up to a larger Chinese presence in its businesses three years since it introduced an approval regime for investments from countries sharing a land border. Modi has made a deepening financial relationship with China dependent on a warming political one. India is “open” to investments from China, the former’s Minister of State for Electronics and Information Technology Rajeev Chandrasekhar told Financial Times in an interview published in July. Shein is set to re-enter India through a partnership with Reliance Retail, The Wall Street Journal reported in May.

Persons: Narendra Modi’s, Xi Jinping, hamstrung, Sajjan, Modi, Narendra Modi, BYD, Technology Rajeev Chandrasekhar, Sajjan Jindal, Una Galani, Thomas Shum Organizations: Reuters, Indian, pharma, Reuters Graphics Reuters, Authorities, Apple, Reliance Industries, Wall Street, SAIC, Motor India, Economic Times, State, Electronics, Technology, Times, India’s, MG Motor India, Reliance Retail, Street, Bloomberg, Thomson Locations: MUMBAI, South Africa, India, New Delhi, China, Johannesburg, Shanghai

☆ Volkswagen invests $700 million in Chinese EV maker Xpeng to boost sluggish sales
▼ + stars: | 2023-07-27 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The German group’s Audi subsidiary will also work more closely with its existing partner, SAIC Motor, China’s biggest car maker. Shares in Xpeng jumped more than 30% Thursday in Hong Kong, leading a broad rally in Chinese EV stocks. China is the single largest market for Volkswagen, accounting for about 40% of its global sales and half of its profits. In the first quarter of 2023, BYD, the Chinese EV maker backed by Warren Buffett, surpassed Volkswagen to become the largest brand by sales in China, according to official car insurance registration data. The German car maker said it would strengthen its strategic position in China, including beefing up its capacity for e-mobility, digitalization and autonomous driving.

Persons: ”, Ralf Brandstätter, Xpeng, Warren Buffett, It’s Organizations: Hong Kong CNN, Volkswagen, VW, Audi, SAIC, China’s, “ Volkswagen Locations: Hong Kong, German, Xpeng, China, Xinjiang, Germany, BYD, Europe, Hefei, Anhui, Hefei city

☆ Volkswagen buys stake in Xpeng, will jointly develop two new EVs with the Chinese automaker
▼ + stars: | 2023-07-26 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +1 min

Volkswagen and Xpeng will jointly develop two new VW-brand EVs for China based on Xpeng's electric G9. Volkswagen said Wednesday that it has signed a deal to jointly develop two new electric vehicles for China with Chinese EV maker Xpeng . As part of the deal, Volkswagen will invest about $700 million in Xpeng, taking a 4.99% stake. In a separate statement confirming the deal, Xpeng said the two new vehicles will also incorporate its advanced driver-assist software. Volkswagen also confirmed that its Audi subsidiary has signed a separate deal with its longtime Chinese joint venture partner, Shanghai-based SAIC Motor , to jointly develop new Audi-branded EVs for the Chinese market.

Persons: Xpeng, Ralf Brandstätter Organizations: Xpeng, VW, Volkswagen, Chinese, EV, Audi, SAIC Locations: China, Xpeng, U.S, Shanghai

☆ 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

☆ Chinese electric vehicle investment plans in Thailand
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +4 min

July 10 (Reuters) - Chinese electric vehicle manufacturers are pouring into Thailand, having committed to invest $1.44 billion in production facilities in Southeast Asia's biggest automaking hub that has long been dominated by Japanese companies. IN THE PIPELINESeveral deals are also in the pipeline, according to the Thailand Board of Investment (BOI), which has been pursuing Chinese automakers. Chongqing Changan, GAC and Chery did not respond to requests for comment on their plans for Thailand. RISING POPULARITYThe influx of Chinese models appears to be helping to boost the popularity of EVs in Thailand, the second-largest car market in Southeast Asia. On Toyota's (7203.T) Thailand website, the Corolla Altis is priced at 894,000 baht and the Yaris Ativ at 549,000 baht.

Persons: China's, Thailand's, BOI, Geely, Wall's Ora, Devjyot, Jamie Freed Organizations: Asia's, General Motors, EV, Electronics, Auto, SAIC, Charoen, New Energy, Assembly, of Investment, State, Chongqing Changan Automobile, Ford, Mazda, Guangzhou Automobile Group, China's Chery, Chongqing Changan, GAC, Chery, Reuters, Corolla, Thomson Locations: Thailand, EVs, Southeast Asia, Europe, Chongqing, China, BOI, Bangkok

☆ China's central bank upbeat on Q2 GDP growth, confident on 2023 targets
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +2 min

Some analysts have predicted the central bank may begin to cut key rates as soon as next week after a flurry of weak data highlighted the fragility of China's economic rebound. "It is expected that year-on-year growth of gross domestic product (GDP) in the second quarter will be relatively high (mainly due to the base effects). The CPI is expected to gradually pick up in the second half of the year and be above 1% year-on-year by December," the PBOC statement quoted Yi as saying. The government has set a modest GDP growth target of around 5% for this year, after badly missing the 2022 goal. Reporting by Ellen Zhang and Ryan Woo; editing by John Stonestreet and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Yi Gang, Yi, Ellen Zhang, Ryan Woo, John Stonestreet, Sharon Singleton Organizations: People's Bank of China, Group, SAIC Motor Corp, Citibank, Thomson Locations: BEIJING, United States, Europe, Shanghai, China

☆ VW's China joint venture transforms Shanghai plant for EV production
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

Swen Pfoertner/Pool via REUTERS/File PhotoSHANGHAI, June 6 (Reuters) - Volkswagen 's Chinese joint venture with SAIC Motor (600104.SS) has transformed one of its plants in Shanghai for production, research and development of electric vehicles (EV), the German automaker said on Tuesday. Production of internal combustion engine models at the main plant of SAIC Volkswagen in Anting of Shanghai will be relocated to other plants, Volkswagen said in an emailed statement to Reuters, which came after comments on social media saying Volkswagen was shutting a plant in Shanghai. The change will not affect the production capacity for individual models, it added. The move underscores Volkswagen's efforts to accelerate its shift to electrification as it has been losing shares in its biggest market where it lags behind Chinese rivals in launching new EV models. Volkswagen-branded cars have been outsold by electrified vehicle maker BYD since November last year, according to data from industrial associations.

Persons: Swen, Zhang Yan, Brenda Goh, Emelia Sithole Organizations: Volkswagen, SAIC, SAIC Volkswagen, Reuters, Thomson Locations: Wolfsburg, Germany, SHANGHAI, Shanghai, Anting

☆ Mercedes plans new electric van platform, 20% cost cuts by mid-decade
▼ + stars: | 2023-05-16 | by ( Nick Carey | ) www.reuters.com time to read: +1 min

LONDON, May 16 (Reuters) - Mercedes-Benz's (MBGn.DE) van unit said on Tuesday that it plans a new, scalable platform for its electric vans that will reduce fixed costs by 20% by the middle of the decade and that electric models should make up 50% of its van sales by 2030. Electric vans should make up 20% of sales by 2026, Mercedes' van unit said, adding it expects double-digit margins on zero-emission model sales by the end of the decade. All new midsize and large van models will be based on what Mercedes described as an "innovative, modular and scalable electric architecture" called VAN.EA. Legacy automakers got off to a late start with their commercial electric vans, opening the door for other electric commercial vehicle (ECV) makers to gain a foothold, such as the Maxus brand from China's SAIC Motor Corp (600104.SS) has done in Europe. Customer demand for electric vans has taken off and is expected to outstrip supply for some years to come.

☆ A protestor threw a cake-like pastry at a board member's head during a Volkswagen meeting that descended into chaos
▼ + stars: | 2023-05-11 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

About a dozen protestors reportedly created chaos at Volkswagen Groups annual meeting on Wednesday. One protestor threw what appeared to be a cake at a board member's head. The Associated Press reported that the pastry was thrown in the direction of Wolfgang Porsche, the chairman of Volkswagen Group's majority shareholder, Porsche SE. But recordings of the moment, uploaded to YouTube from news outlets including The Guardian, show VW Group chairman Hans Dieter Poetsch dodging remnants of the pastry that flew in his direction. A Reuters video from the event shows the protestors being led out of the meeting by security.

[1/3] Oliver Blume, Chairman of the Board of Management of Volkswagen AG and Dr. Ing. He did not mention the company's Xinjiang plant in China, a joint venture with SAIC Motor (600104.SS), which has become a sore point for human rights activists as well as some shareholders, including top-20 investors Deka Investment and Union Investment. "Volkswagen must be certain that its supply chains are clean," said Ingo Speich, head of sustainability and corporate governance at Deka. Volkswagen's China chief visited the plant in Xinjiang earlier this year and said he saw no evidence of forced labour. Shareholders flagged rising competition from Chinese EV competitors in China, with BYD (002594.SZ) outselling Volkswagen as the top passenger car brand earlier this year.

MG Motor's hybrid eHS model is set to hit Mexico's streets on Friday, alongside two combustion-engine models, the company said. However, hybrid models could be a step forward until there is more EV investment, analysts have said. "For your day-to-day, you'll have the benefits of an electric vehicle," Daniel Nava, vice president of MG Motor in Mexico, told Reuters ahead of the announcement. Nava said the price in Mexico reflects that the model is a plug-in hybrid, which is more costly than other hybrid models, and is comparable to competitors' prices. Nava said MG Motor had been in touch with officials in Nuevo Leon as well as other states as it considered building a plant in the country.

☆ Shanghai pushes carmakers for automotive chip investments
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: 1 min

Companies SAIC Motor Corp Ltd FollowBEIJING, April 15 (Reuters) - Shanghai will encourage SAIC Motor (600104.SS) and other vehicle manufacturers to actively participate in automotive chip investment, as well as support the formation of expert groups and industry alliances, government media The Paper reported on Saturday. Reporting by Beijing newsroom; Writing by Liz Lee; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Lack of electric vans opens door for Chinese, other EV makers
▼ + stars: | 2023-04-13 | by ( Nick Carey | ) www.reuters.com time to read: +7 min

[1/3] Tristan Thomas, CEO of Packfleet, demonstrates charging an electric van made by Chinese brand Maxus at the fully-electric package delivery firm's headquarters in London, Britain, October 27, 2022. Packfleet grew tenfold in 2022 and CEO Tristan Thomas said most of the company's 53-vehicle fleet are Maxus vans. SAIC said it sold 18,000 mostly electric Maxus brand vehicles in Western Europe and Scandinavia last year, including buses and pickup trucks. Fleet manager Sean Clifton has 50 additional Ford vans and 20 Maxus vans on order, but will need more soon as Asda electrifies its 1,300 delivery vans. There is no difference in delays for conventional and electric vans at Renault, said commercial vehicle marketing director John Cleworth.

☆ Luminar CFO defends lidar maker's pricing and revenue in the wake of a Goldman downgrade
▼ + stars: | 2023-03-24 | by ( John Rosevear | ) www.cnbc.com time to read: +3 min

A Mercedes-Benz van retrofitted with different types of lidar systems, including Luminar's Iris, to showcase the differences in the technologies. Lidar maker Luminar Technologies , stung by a recent Wall Street downgrade, is responding in an unusual way: taking its case directly to the shareholders. "We continue to see Luminar as one of a handful of leaders in the very competitive lidar industry," Delaney wrote. "'Premium pricing' isn't a theoretical concept we are forecasting, but an achievement we have already made in our major customer contracts," Fennimore wrote in the shareholder letter. And the second point Fennimore says Goldman missed: The time frame Delaney chose to compare Luminar's valuation against those of its rivals.

☆ From Tesla to under-the-radar battery stocks: Wall Street has a playbook for the EV boom
▼ + stars: | 2023-03-20 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

The bank's "Battery Electric Vehicles Basket" comprises several stocks across the EV supply chain, including automakers Rivian , Lucid and Li Auto . This may be the opportune moment for Chinese EV brands to knock on the doors of Europe." Among the Chinese EV makers, BYD, Nio and Xpeng are "the ones to watch," according to Bernstein. "We expect Chinese EV players to find better success targeting the compact, mass market EV segment that has so far been under-penetrated in Europe," the bank said. Tesla and under-the-radar plays Tesla is one of Deutsche Bank 's top picks in the EV space.

☆ 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.

Search resuls for: "SAIC Motor"

25 mentions found