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☆ How Chinese EV makers are slowly taking over the world
▼ + stars: | 2024-06-22 | by ( Tom Carter | ) www.businessinsider.com time to read: +14 min

Chinese carmakers accounted for 88% of the EV market in Brazil and 70% in Thailand in Q1, according to ABI Research figures. The EV markets in many of these countries are small now, but they're growing rapidly. This is because Chinese automakers are known for their ability to build electric cars for less than their foreign competitors. Australian Senator and shadow cyber-security minister James Paterson said earlier this year that Chinese EVs pose a growing cybersecurity risk. "India is still a little wary of the Chinese market," said Dylan Khoo, an analyst at ABI Research.

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☆ Volkswagen-SAIC venture to close manual transmission plant in China
▼ + stars: | 2022-11-19 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Nov 18 (Reuters) - (This Nov. 18 story has been corrected to say workers will be offered support by the company, not necessarily new jobs in paragraph 5)A manual transmission plant owned by Volkswagen's (VOWG_p.DE) joint venture with SAIC Motors (600104.SS) will close next March, the carmaker said on Friday. The decision was taken several years ago, a Volkswagen spokesperson said, adding that production of manual transmission cars by the joint venture had fallen from 500,000 a year to about 50,000. Volkswagen's joint venture with FAW in the northeastern city of Changchun will continue to produce manual transmission systems, though output has also fallen in recent years. The German carmaker is the largest foreign automaker in China but is battling to compete with domestic electric vehicle manufacturers. Reporting by Victoria Waldersee, Jan Schwartz and Zhang Yan Editing by Rachel More and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

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