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Top related persons:
JSW - 1 Leapmotor - 1 Sajjan Jindal - 1 Aditi Shah - 1 Zhang Yan - 1 Neha Arora - 1 Kim Coghill - 1
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Jinhua Zhejiang province China India EVs New Delhi Shanghai
Top related orgs:
REUTERS - 1 DELHI - 1 HK - 1 MG Motor India - 1 China's SAIC Motor Corp - 1 EV - 1 Tata Motors - 1 MG Motor - 1

Search resuls for: "China's SAIC Motor Corp"


5 mentions found


☆ Exclusive: India's JSW in talks with Chinese carmaker Leapmotor for EV tech -sources
  + stars: | 2023-08-31 | by ( Aditi Shah Neha Arora | Aditi Shah | Neha Arora | ) www.reuters.com   time to read: +3 min
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
☆ 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.
☆ 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.
☆ 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.
☆ SAIC-Volkswagen offers $537 mln in subsidies through April 30
  + stars: | 2023-03-17 | by ( ) www.reuters.com   time to read: +1 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 Zoey Zhang and Brenda Goh; Editing by Himani Sarkar and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.
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