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☆ BYD: Why Hungary and Mexico could be key to the Chinese carmaker’s global domination
▼ + stars: | 2024-01-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +9 min

The cars come from BYD, the Chinese carmaker that is backed by Warren Buffett and has surpassed Tesla as the world’s biggest seller of electric vehicles (EVs). 1," a shipping carrier vessel intended to export BYD vehicles, at Yantai port in eastern China's Shandong province in January. BYD Mexico did not respond to a request for comment. “The US government is not going to like that Mexico is creating a back door.”A BYD electric vehicle, operated by Vemo taxi, in Mexico City in November. But as it continues to grow overseas, BYD will have to take a more localized approach, analysts say.

Persons: Warren Buffett, Tesla, BYD, Viktor Orbán’s, Yucatán, what’s, Elon Musk, Tu Le, carmaker, Hungary —, Matthias Schmidt, ”, “, Schmidt, Bill Russo, it’s, Le, Mariceu Ethrall, It’s, “ It’s, ‘ We’re, ’ ”, Stella Li, México, ” Li, Wang Chuanfu, BYD “, Russo, they’ve, ” Russo Organizations: Hong Kong CNN, Xinhua, Getty, CNN, Tesla, BMW, Audi, European Union, Schmidt Automotive Research, EV, European Commission, Bloomberg, BYD, El Locations: Hong Kong, China, Europe, BYD, Shenzhen, Germany, Netherlands, Hungary, Mexico, North America, China's Shandong, Szeged, Komárom, France, Shanghai, Hungarian, United States, Canada, Mexico City, Mexican, Dutch, Rotterdam, California, Brazil, Indonesia, Thailand, Uzbekistan, Macao, Taiwan, Japan, what’s

☆ Hungary criticises 'unsportsmanlike' Bulgaria as Euro qualifier venue changed
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Nov 14 (Reuters) - The Hungarian football federation slammed the Bulgarian federation for "unsportsmanlike" conduct as Thursday's Euro 2024 qualifier match was moved from Plovdiv to Sofia on Tuesday. The Hungarian FA called hosts Bulgarian Football Union's (BFU) actions "unprecedented, totally unjustified and grossly unsportsmanlike" in a statement. "It is not even possible to organise a family holiday in this way, let alone an international football match with a huge stake, involving millions of people," it added. "UEFA ordered that the match will be played behind closed doors at the Vasil Levski stadium in Sofia," the BFU said on Tuesday. Bulgaria are bottom with two points as they look to secure a qualifying playoff berth in their remaining matches against Hungary and Serbia.

Persons: BFU, Chiranjit, Christian Radnedge Organizations: Hristo Botev, Hungarian FA, Bulgarian Football, UEFA, Vasil Levski, Hungary, Thomson Locations: Hungarian, Bulgarian, Plovdiv, Sofia, Hungary, Montenegro, Lithuania, Bulgaria, Serbia, Bengaluru

☆ ATP roundup: Jack Draper pulls off massive upset at Sofia Open
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

Mandatory Credit: Danielle Parhizkaran-USA TODAY Sports/File Photo Acquire Licensing RightsNovember 9 - Great Britain's Jack Draper pulled off a 7-5, 6-2 upset of No. 1 seed Lorenzo Musetti of Italy on Wednesday in the second round of the Sofia Open in Sofia, Bulgaria. Fognini, a wild card, rallied for a 4-6, 7-6 (7), 7-6 (5) victory against fifth-seeded Alexander Bublik of Kazakhstan, while No. 6 Sonego swept Jordanian qualifier Abdullah Shelbayh 6-3, 7-5. Other winners included Frenchmen Luca Van Assche and wild card Pierre-Hugues Herbert and Russia's Alexander Shevchenko.

Persons: Jack Draper of, Andrey Rublev, USTA Billie Jean King, Danielle Parhizkaran, Jack Draper, Lorenzo Musetti, Draper, Russian Pavel Kotov, Cem Ilkel, Kotov, Sebastian Baez, Ilkel, Max Purcell, Frenchman Adrian Mannarino, Spain's Albert Ramos, Lennard Struff, Billy Harris, Austria's Sebastian Ofner, Hungary's Marton Fucsovics, Hungarian Fabian Marozsan, Fabio Fognini, Lorenzo Sonego, Alexander Bublik, Sonego, Abdullah Shelbayh, Fognini, Luca Van Assche, Pierre, Hugues Herbert, Russia's Alexander Shevchenko Organizations: USTA Billie, USTA Billie Jean King National Tennis Center, Sofia, Turkish, Argentine, British, Bublik, Thomson Locations: Flushing , NY, USA, Jack Draper of Great Britain, Italy, Sofia, Bulgaria, Russian, Hungarian, Moselle, Metz, France, Kazakhstan

But rival European battery groups are still scarce, and global carmakers have more to gain than lose. Chinese battery suppliers like Contemporary Amperex Technology (CATL), SVOLT, Envision, and most recently EVE Energy (300014.SZ), are shaking up Europe’s e-mobility supply chains. At 4.5 billion euros, investments in projects to build new plants in Europe overtook spending on mergers and acquisitions. European battery makers will struggle to compete. Given the chance, Chinese battery makers can power up Europe’s own supply chains, and its auto companies too.

Persons: CATL, It’s, Bernstein, Emmanuel Macron, Tesla, Elon, Lisa Jucca, Thomas Shum Organizations: Reuters, Volkswagen, BMW, Volvo, Technology, EVE Energy, Shanghai Putailai, Energy Technology, Mineral Intelligence, Companies, Wall Street, LG, Samsung SDI, Union, Commission, EU, United, Mercedes, Benz, Elon Musk’s, Mercator Institute for China Studies, Thomson Locations: HONG KONG, China, People’s Republic, Europe, Shanghai, People’s, Sweden, United States, EU, Hungary, Spain

Farmers in Poland and other eastern European countries who held out for higher prices have been hit by a perfect storm. A jump in exports from Brazil and Russia helped to drive global grain prices lower while the EU opened its borders to tariff-free Ukrainian grain imports in a show of solidarity after Russia blocked the country's Black Sea ports. After opening its borders to Ukrainian grain, Poland imported 2.08 million tonnes of maize and 579,315 tonnes of wheat last year, up from just 6,269 tonnes of maize and 3,033 tonnes of wheat in 2021. If the grain corridor due to expire this month were to collapse, Ukrainian farmers would have little option but to send all their grain exports through eastern Europe. European wheat prices hit post-harvest highs in October 2022 of more than 350 euros a tonne but since then prices have dropped to pre-invasion levels of about 235 euros.

☆ Hungary to allow transit of Ukrainian grain, protect farmers, minister says
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

BUDAPEST, April 20 (Reuters) - Hungary will continue to allow transit of Ukrainian grain, ensuring the departure of such shipments "in a controlled manner," its agriculture minister, Istvan Nagy, told state news agency MTI after talks in Brussels. This followed Poland and Hungary last weekend banning some imports from Ukraine. "It was worthwhile for Hungary to take firm action and protect the interests of Hungarian farmers," Nagy said, referring to the ban, adding the measures forced Brussels to take action. The countries became transit routes for Ukrainian grain that could not be exported through Ukraine's Black Sea ports because of Russia's invasion in February 2022. Bottlenecks then trapped millions of tons of grains in countries bordering Ukraine, forcing local farmers to compete with an influx of cheap Ukrainian imports which they said distorted prices and demand.

☆ Ukraine's cheap grain exports are causing an awkward rift with its European neighbors and staunch allies
▼ + stars: | 2023-04-19 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

The move to ban Ukraine's agricultural imports has angered the European Union given that the bloc has sought to help Kyiv maintain its exports as an economic lifeline for the war-torn country. Slovakia's Ministry of Agriculture and Rural Development told CNBC that despite its temporary ban on Ukrainian imports, the country continued to be open for "solidarity transit," meaning that Ukrainian grain could still pass through its territory to other countries. The ministry added that "we would appreciate the whole-European solution [to] the Ukrainian grain because the topic is relating to the protection of the whole internal European market." It also said it recognized the impact of the "oversupply" of Ukrainian imports on EU farmers, particularly those in bordering nations. Ships, including those carrying grain from Ukraine and awaiting inspections, are seen anchored off the Istanbul coastline on November 02, 2022 in Istanbul, Turkey.

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