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☆ Auto giants are getting nervous about the prospect of mega fines as EV demand falters
▼ + stars: | 2024-10-03 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Cfoto | Future Publishing | Getty ImagesEurope's top car giants appear to be increasingly concerned about the prospect of massive fines, particularly as electric vehicle demand falters ahead of the next tightening of carbon regulations. "The fines are massive actually. "Manufacturers are pretty much focused on conventional hybrids and ICE vehicles because they are much more profitable," ING's Luman said. Pooling refers to the process in which car manufacturers team up to be considered as one entity when calculating their performance against a CO2 emissions target. Not everyone is convinced that the sales challenge that Europe's car industry faces constitutes an industry-wide crisis.

Persons: Rico Luman, Europe's carmakers, Luman, Luca de Meo, ACEA, Tim McPhie, McPhie, ING's Luman, Sean Gallup, Xavier Demeulenaere, Demeulenaere, Brandon Bell Organizations: Volkswagen, ING, CNBC, videoconference, Renault, EV, Reuters, European Automobile Manufacturers ' Association, BMW, Ferrari, Volvo, European Commission, Ford, Benz Group, Manufacturers, Getty, P Global Mobility, Transport, Environment, Hill Locations: Anhui, Hefei, China, Europe, ACEA, Weissenfels, Germany, Austin , Texas

☆ EU to investigate 'flood' of Chinese electric cars, weighing tariffs
▼ + stars: | 2023-09-13 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +6 min

"Global markets are now flooded with cheaper electric cars. It is also unusual in that it is brought by the European Commission itself, rather than in response to an industry complaint. GRINDING GEARSThe influx of cheaper Chinese electric vehicles has already prompted some European carmakers to take action. At the same time Von der Leyen stressed the importance of electric vehicles to the EU's ambitious environmental objectives. The founder of Nio warned in April that Chinese EV makers should brace for the possibility that foreign governments would impose protectionist policies.

Persons: Ursula von der Leyen, BYD, EVs, Nio, Mercedes Benz, Stellantis, France's, Tesla, VDA, Von der Leyen, Simone Tagliapietra, Kingsmill Bond, Foo Yun Chee, Philip Blenkinsop, Kim Miyoung, Brenda Goh, Anne Marie Roantree, Nick Carey, Kate Abnett, Gabriela Baczynska, Louise Heavens Organizations: EU, Investigation, European EV, European Commission, European Union, Renault, BMW, HK, China Passenger Car Association, Dynamics, Volvo, EV, VW, France's Renault, Japan, Rocky Mountain Institute, Thomson Locations: BRUSSELS, Brussels, China, Moscow, Ukraine, Germany, France, Europe, U.S

"Chinese manufacturers will adapt vehicles to the European market step by step through user experience and customer orientation," Bosch (ROBG.UL) CEO Stefan Hartung told Reuters at Munich's IAA mobility show. Bosch's Chinese partnerships include developing Advanced Driver Assistance Systems (ADAS) for most of Chinese EV maker BYD's (002594.SZ) cars, electric motors for luxury EV maker Human Horizons and is a supplier for Nio (9866.HK). Chinese EV makers including BYD, Nio, Xpeng (9868.HK) and Leapmotor (9863.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. "When we talk to our Chinese customers, there are very concrete plans to build plants in Europe," ZF CEO Holger Klein told Reuters. Continental CEO Nikolai Setzer told Reuters the supplier expects "the Chinese to go global and build plants in Europe."

Persons: Leonhard Simon, Bosch, Stefan Hartung, Hartung, Holger Klein, Nikolai Setzer, Setzer, Nick Carey, Victoria Waldersee, Christina Amann, Zoey Zhang, David Evans Organizations: REUTERS, Rights, Reuters, BYD's, Human, HK, Europe's EV, Jato Dynamics, Friedrichshafen, ZF, Continental, Thomson Locations: Munich, Germany, China, Europe

[1/6] A view shows model TO3 of Leapmotor, a Chinese automobile manufacturer, displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. Chinese EV makers, including BYD (002594.SZ), Nio (9866.HK) and Xpeng (9868.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. The arrival of Chinese EV makers in Europe has raised concerns they could dominate EV sales. Xpeng President Brian Gu said while European carmakers currently lag behind China, they have made a "huge commitment" to EVs with partnerships and large investments in technology. "I would never discount the large (carmakers) trying really hard to come back and focus on this important transition," Gu said.

Persons: Leonhard Simon, Luca de Meo, De Meo, Hildegard Mueller, Oliver Zipse, Oliver Blume, Brian Gu, Gu, Ferdinand Dudenhoeffer, Dudenhoeffer, Nick Carey, Victoria Waldersee, Gilles Gillaume Christina Amann, Zoey Zhang, Jan Schwartz, Friederike Heine, Clarence Fernandez, Sharon Singleton Organizations: REUTERS, China EV, Renault, Reuters, HK, Europe's EV, Zhejiang Leapmotor Technology, EV, German Association of, Automotive Industry, Jato Dynamics, BMW, Benz, Klasse, Volkswagen, Auto, Thomson Locations: Munich, Germany, China, MUNICH, BYD, Zhejiang, Europe, Asia

A Renault wallbox charging station is used by a Renault Captur hybrid car at a dealership in Les Sorinieres, near Nantes, France, October 23, 2020. Chinese EV makers, including BYD (002594.SZ), Nio (9866.HK) and Xpeng (9868.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. The arrival of Chinese EV makers in Europe has raised concerns they will undercut local carmakers and dominate EV sales. Mercedes-Benz (MBGn.DE) will present its CLA compact class and BMW (BMWG.DE) its Neue Klasse, both of which target higher range and efficiency, while halving production costs. Volkswagen (VOWG_p.DE) CEO Oliver Blume told reporters that through its partnerships in China, the carmaker aims to cut battery cell costs by 50%.

Persons: Stephane Mahe, Luca de Meo, De Meo, Fabian Brandt, Oliver Wyman, Gilles Le Borgne, Oliver Blume, " Blume, Nick Carey, Victoria Waldersee, Gilles Gillaume, Christina Amann, Friederike Heine, Clarence Fernandez, Sharon Singleton Organizations: Renault, REUTERS, China EV, Reuters, HK, Europe's EV, EV, Jato Dynamics, Benz, BMW, Klasse, Volkswagen, Greenpeace, Protesters, Thomson Locations: Les Sorinieres, Nantes, France, China, MUNICH, BYD, Europe, Munich, Asia

☆ Volkswagen is ready for Europe's 2035 fossil-fuel car ban - CEO
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

A Volkswagen 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 RightsCompanies Volkswagen AG FollowMUNICH, Sept 4 (Reuters) - Volkswagen (VOWG_p.DE) is ready for Europe's planned 2035 ban on new sales of fossil-fuel cars as it ramps up its electric vehicle lineup, Chief Executive Oliver Blume said at Munich's IAA mobility show. "We are prepared for the 2035 combustion ban in Europe," Blume told reporters at the car show. 2 carmaker will be able to lower its battery costs via a 50% reduction in cost at the cell level. Reporting by Jan Schwartz; Writing by Nick Carey; Editing by Louise Heavens and Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.

Persons: David, Dee, Delgado, Oliver Blume, Blume, Jan Schwartz, Nick Carey, Louise Heavens, Mike Harrison Organizations: New York, REUTERS, EV, Thomson Locations: Manhattan , New York City, U.S, Europe, China

LONDON, June 28 (Reuters) - Zeekr, Geely Automobile's (0175.HK) electric brand, said on Wednesday that two of its all-electric luxury cars are available for pre-order in the Netherlands and Sweden, joining a growing number of Chinese EV makers launching vehicles in Europe. Deliveries for the Zeekr 001 estate and the Zeekr X SUV are set to begin in the autumn, the company said. Pricing for the Zeekr 01 starts at 59,490 euros ($65,076) including taxes, while the Zeekr X starts 44,990 euros. "Our plan is that through 2026 we will cover the majority of western Europe," he told Reuters. Other Chinese EV makers including BYD, Xpeng and Aiways have all launched sales in Europe, seeking to gain market share while many consumers are still new to EVs.

Persons: Geely Automobile's, Spiros Fotinos, Europe's, Fotinos, Nick Carey, Johan Ahlander, Sameer Manekar, Janane Venkatraman, David Evans Organizations: HK, EV, Reuters, Thomson Locations: Netherlands, Sweden, Europe, Gothenburg, Spiros, Denmark, Germany, France, Norway, China, Stockholm, Amsterdam, Bengaluru

☆ China poses greatest risk to Europe's carmakers - Allianz Trade study
▼ + stars: | 2023-05-08 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

Companies Allianz SE FollowTesla Inc FollowLONDON, May 9 (Reuters) - Chinese-made electric vehicles (EVs) pose the greatest risk to Europe's carmakers and could cost them 7 billion euros ($7.7 billion) a year in lost profits by 2030 unless policymakers take action, according to an Allianz Trade report. Europe's carmakers face a dual threat from the prospect of falling sales of their own vehicles in China, where local EV makers have been growing market share, and from rising sales of imported Chinese EVs - made by Chinese or Western carmakers. A crowded market for all-electric SUVs in China is putting pressure on local carmakers to export more vehicles to Europe. "The stakes are high for Europe's automotive industry: four out of five cars sold in Europe are assembled locally," the report added. The report said the U.S. Inflation Reduction Act (IRA) had made Europe a target for Chinese exports.

The EU has progressively tightened limits since "Euro 1" in 1992. The Commission's proposal widens real-driving emissions (RDE) testing and adds continuous testing of emissions via an on-board monitoring system. Euro 7 would take effect in mid-2025 for cars and in mid-2027 for trucks and buses. The European Commission estimates Euro 7 could add up to 150 euros to car prices and 2,600 euros for trucks and buses. A Commission spokesperson declined to comment on executives' statements, but said Euro 7's real-driving emissions tests were important because of "scandals in the past about cheating devices".

Experts estimate that about half of the German electric vehicles registered in the United States are leased. While the scale of the U.S. subsidies has attracted most attention, the EU has large potential resources of its own. THE REAL PROBLEM"The amounts of subsidies in Europe are in line or even more than those in the United States, that is not the problem," said one senior European Union official. "The real problems are the incentives to make firms move production to the United States," said the official, referring to the local content requirements. To ensure Europe can compete with the United States, the European Commission on Wednesday proposed measures including loosening EU state aid rules and repurposing existing EU funds.

☆ European carmakers should wean off fossil fuels by 2040, Audi chief says
▼ + stars: | 2022-04-22 | by ( ) www.reuters.com time to read: +1 min

BERLIN, April 22 (Reuters) - Europe's carmakers should wean themselves off fossil fuels from 2040, chief executive of Volkswagen's (VOWG_p.DE) Audi said on Friday, calling for quicker expansion of renewable energy capacity in Bavaria, where Audi is based, and elsewhere. read more"Let's be courageous as Europeans and take it upon ourselves to give up on fossil fuels completely from 2040," Markus Duessmann said at a conference. Audi will stop selling combustion engine cars from 2033. Its parent Volkswagen will do so from 2035 in Europe and later in China and the United States, it has said. read moreStill, other carmakers like BMW have warned against focusing exclusively on producing electric vehicles too soon, with demand for combustion engines still high.

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