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☆ Tesla sold 100,291 China-made vehicles in Nov -Xinhua
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Dec 5 (Reuters) - Tesla Inc (TSLA.O) delivered 100,291 China-made electric vehicles (EVs) in November, the highest monthly sales since its Shanghai factory opened in late 2020, a Xinhua report said on Monday. The number marks a 40% increase from October and 89.7% more than a year earlier after the U.S. automaker ramped up output at the Shanghai plant, cut prices for the best-selling models and offered incentives to Chinese buyers. However, BYD (002594.SZ) led all brands in China's November EV sales at 229,942 electric cars including plug-in hybrids and pure electric vehicles, three times more than a year earlier and more than double Tesla's tally, China Passenger Car Association data shows. BYD was the top-selling car brand in China in the first four weeks of November, data from China Merchants Bank International shows, outperforming the Volkswagen brand in a reversal that highlights the pressure on legacy brands in the world's largest auto market. Reporting by Zhang Yan, Brenda Goh and Beijing Newsroom Editing by Alison Williams and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla cuts Dec Model Y output at Shanghai plant by more than 20% versus Nov - sources
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Dec 5 (Reuters) - Tesla (TSLA.O) plans to cut December output of the Model Y at its Shanghai plant by more than 20% compared to November, two people with knowledge of the matter said on Monday. Reuters was not able to immediately ascertain the reason for the December reduction in the electric vehicle (EV) giant's latest production plan. Tesla did not immediately respond to a request for comment on the planned cut, first reported by Bloomberg. Tesla added to its electric vehicle inventory in Shanghai at its fastest pace ever in October, according to China Merchants Bank International (CBMI) data. Globally, Tesla had planned to push production of the Model Y and Model 3 EVs sharply higher in the fourth quarter as newer factories in Austin and Berlin ramp production, Reuters reported in September.

☆ Tesla China denies media reports of output cut at Shanghai plant
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: 1 min

SHANGHAI, Dec 5 (Reuters) - Tesla (TSLA.O) on Monday said media reports which said its plant in Shanghai would cut December output of its Model Y were "untrue". Reuters on Monday reported Model Y output at the plant was set to fall by more than 20% versus November citing two sources with knowledge of the electric vehicle (EV) giant's production plan. read moreReporting by Zhang Yan and Brenda Goh; writing by Meg Shen; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Evergrande's EV unit suspends mass production due to lack of orders -sources
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Dec 2 (Reuters) - China Evergrande Group's electric vehicle unit has suspended mass production of its only model due to a lack of new orders, two people with knowledge of the matter said, in the latest set of troubles facing the indebted property developer. China Evergrande New Energy Vehicle Group (0708.HK) said in mid-September that it had started mass production of the Hengchi 5 model at a plant in the northern city of Tianjin and in late October said it had delivered its first 100 cars. It was not immediately clear how long mass production would stay suspended for. In July，the unit said it had received non-binding pre-orders for more than 37,000 units of the Hengchi 5. Competition in the EV sector has also been intensifying, with Tesla cutting prices and offering incentives in China, weighing on other loss-making competitors.

☆ Tesla to issue software updates for 435,000 cars in China over marker light issue
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Dec 1 (Reuters) - Tesla Inc (TSLA.O) will issue software updates for more than 435,000 vehicles in China to fix an issue with side marker lights that could in extreme circumstances lead to a collision, a regulatory body said. The fix, which counts as a recall, will be issued by an over-the-air update. It covers 142,277 Model 3 cars and 292,855 Model Ys, according to a statement by the State Administration for Market Regulation. The electric vehicle giant also recalled more than 80,000 Model S, Model X and Model 3 cars last week in China for software and seat belt issues. read moreReporting by Zhang Yan and Brenda Goh; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

☆ BYD set to be China's top-selling car brand for Nov, Tesla gains -data
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Toya Sarno Jordan/File PhotoSHANGHAI, Nov 30 (Reuters) - BYD was the top-selling car brand in China in the first four weeks of November, brokerage data showed, outperforming the Volkswagen brand in a reversal that highlights the pressure on legacy brands in the world's largest auto market. Tesla's (TSLA.O) retail sales in China also nearly doubled in November, from a year earlier, after the U.S. automaker cut prices and offered incentives on its Model 3 and Model Y, the data from China Merchants Bank International (CMBI) showed. Retail sales for BYD totaled 152,863 vehicles from Nov. 1 to Nov. 27, logging a nearly 83% increase in average daily sales compared to the same period a year earlier, according to the data. BYD's tally was higher than Volkswagen's retail sales of 143,602 retail sales and Toyota Motor Corp's (7203.T) 115,272, which were 0.3% and 0.5% lower, respectively, on the year. However, the Volkswagen AG group still outsold BYD, when the 36,847 units sold under the Audi brand are included.

☆ Exclusive: Tesla readies revamped Model 3 with project 'Highland' -sources
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +6 min

[1/2] A Tesla Model 3 sedan, its first car aimed at the mass market, is displayed during its launch in Hawthorne, California, U.S. March 31, 2016. Tesla’s Shanghai Gigafactory will put the redesigned Model 3 into production in the third quarter of 2023, they said. CHANGE YOU CAN SEEThe redesign for the Model 3 builds on the revamp of the Model S -- Tesla’s premium EV sedan -- that was released last year. The Model 3, Tesla’s cheapest EV starting at just under $47,000 in the United States, had been the automaker’s best-seller but is being overtaken by the Model Y crossover. KEEP IT SIMPLEMusk has pushed a simplified approach to design and production at Tesla that the Highland project extends, said the people with knowledge of the development.

☆ 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.

☆ Tesla cuts delivery waiting time for all model 3, model Y cars
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Nov 15 (Reuters) - Tesla (TSLA.O) has cut the delivery waiting time for all Model 3 and Model Y vehicles to a minimum of one week, it said on its website on Tuesday. The U.S. automaker added to its electric vehicle inventory in Shanghai at its fastest pace ever in October, data from China Merchants Bank International (CMBI) showed, at a time when automakers and investors are bracing for a downturn in the world’s largest car market. read moreTesla had cut prices for its Model 3 and Model Y cars in China last month to boost sales. Last week, the company offered an additional rebate for buyers who take delivery this month and buy insurance from one of Tesla's partners. read moreReporting by Zhang Yan, Twinnie Siu and Ella Cao, Editing by Louise Heavens and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla says it will assist police probe into fatal crash in China
▼ + stars: | 2022-11-13 | by ( ) www.reuters.com time to read: +2 min

China is Tesla's second-largest market, and the crash was among the top trending topics on the Weibo social media platform on Sunday. Calls to police in Raoping, the county where the accident happened, went unanswered on Sunday. Tesla has faced claims of brake failure in China before. In that instance, Tesla said speeding violations were behind her crash but promised to improve how it addressed customer complaints. Reporting by Liz Lee, Zhang Yan, Liangping Gao and Cui Zhuzhu; Editing by Brenda Goh and William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Tesla has considered exporting EVs from Shanghai to U.S., Canada
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +5 min

Tesla's evaluation has included consideration of whether parts made by Tesla's China-based suppliers would be compliant with regulations in the United States and Canada, they said. Tesla would not be the first U.S. automaker to ship made-in-China vehicles to the United States. Tesla's Shanghai Gigafactory has the capacity to produce 1.1 million electric vehicles per year after an upgrade earlier this year, making it Tesla's most productive manufacturing hub. The Shanghai plant makes Model 3 sedans and Model Y crossovers to sell in China and for export to markets including Europe, Australia and Southeast Asia. That means Tesla vehicles could potentially be exported to North America at a competitive price.

☆ EXCLUSIVE Tesla mulls exporting China-made EVs to United States-sources
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +5 min

Tesla's Shanghai Gigafactory has the capacity to produce 1.1 million electric vehicles per year after an upgrade earlier this year, making it Tesla's most productive manufacturing hub. The California plant, Tesla's first, produces the Model S, the Model 3 sedans and the Model X and Model Y crossovers. At the same time, the price gap between Tesla cars sold in China and the United States has been widening, reflecting both higher U.S. prices and new discounts in China. Tesla sells the Model Y for the equivalent of $49,344 in China, compared to the U.S. price of $65,990. loadingTesla would not be the first U.S. automaker to ship made-in-China vehicles to the United States.

☆ Tesla Shanghai adds to inventory at highest rate ever in October - brokerage data
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +3 min

That was the biggest gap between production and sales since Tesla opened its Shanghai Gigfactory in late 2019, CMBI data showed. Reuters GraphicsWhile Tesla's inventory numbers remain low relative to established automakers, building inventory has been a down-cycle indicator for the industry, forcing markdowns in past recessions of the kind Tesla has not yet faced. Tesla Chief Executive Elon Musk said last month China, Tesla’s second largest market, was in a “recession of sorts". Tesla cut prices for its Model 3 and Model Y cars in China last month to boost sales. Unlike traditional automakers, Tesla distributes through its own stores, rather than dealers, and so is left to hold and finance any inventory that has not been delivered to buyers.

☆ China's BYD to launch new premium electric car brand in 2023
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Nov 8 (Reuters) - Chinese electric vehicle giant BYD said on Tuesday that it would launch a new premium brand in the first quarter of 2023. BYD said vehicles produced under the new brand will be priced above 1 million yuan ($138,096.75), without further elaboration. Having ditched gasoline vehicles from its product mix this year, BYD has, more than any other automaker, been able to capitalise on a range of incentives for electric cars offered by the Chinese central government as well as local governments. The automaker, which produces both pure electric and plug-in hybrid cars, has topped electric vehicle sales in the world's biggest auto market, with sales more than tripled in the first 10 months to hit 1.4 million, according to company filings. ($1 = 7.2413 Chinese yuan renminbi)Reporting by Zhuzhu Cui, Zhang Yan and Brenda Goh in Shanghai; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla changes insurance incentive scheme in China to urge purchases
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI/BEIJING, Nov 8 (Reuters) - Tesla Inc (TSLA.O) said it has raised insurance incentives for car orders in China placed before Nov. 30, but reduced them for orders made next month, a move to urge consumers to place orders earlier. The U.S. automaker previously offered an insurance incentive of 7,000 yuan ($970) for orders between Oct. 1 and Dec. 30. But on Tuesday Tesla said the incentive for November was raised to 8,000 yuan and reduced for December orders to 4,000 yuan. The insurance incentive is a cash rebate offered to buyers to buy insurance from Tesla's partner insurers. Tesla delivered 71,704 China-made electric vehicles (EVs) in October, down 14% from a record high in September, according to the China Passenger Car Association last week.

☆ China's Nio resumes production at its two Hefei factories
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

[1/4] A Nio ES8 electric SUV changing its battery is seen inside a power station at a JAC Motors-NIO plant in Hefei, Anhui province, China December 14, 2018. REUTERS/Yilei SunBEIJING, Nov 3 (Reuters) - Chinese electric vehicle maker Nio (9866.HK) said on Thursday it has resumed production at its two factories in the eastern city of Hefei, after COVID-19 curbs disrupted operations and delayed deliveries. "Production is resumed at the moment," said a company representative, declining to say whether it was a full or partial resumption. Nio said on Wednesday it had suspended production because of COVID curbs, leading to delays in deliveries when sales are booming, triggering a steep drop in its shares. Nio sold 10,059 cars last month, nearly three times its sales from October 2021, after introducing new models such as ET5.

☆ Geely's Zeekr plans electric vehicle sales in Europe in 2023
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Zeekr 001 electric vehicle (EV) by Geely is seen displayed at the Zeekr booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song/File PhotoSHANGHAI, Nov 2 (Reuters) - Zhejiang Geely Holding Group's (GEELY.UL) premium electric car business plans to sell the first electric vehicle produced under the Zeekr brand in Europe next year, Zeekr's CEO said. Zeekr joins a growing list of Chinese automakers looking to launch or expand sales of electric vehicles in Europe next year, including BYD (002594.SZ), Xpeng (9868.HK) and Great Wall Motors (601633.SS). An said Geely would market its 001 electric crossover in Europe next year. The base model Zeekr 001 sells for the equivalent of $41,000 in China compared with $40,000 for the Tesla (TSLA.O) Model Y after a recent price cut.

☆ Tesla closes its first showroom in China in retail strategy shift - sources
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +3 min

"Their contract with us expired and Tesla decided not to extend it," the mall staff member said. A call to the store earlier in the day was redirected to another Tesla showroom nearby. As part of that effort, Tesla has been hiring technicians and other staff for service jobs in China. More than half of Tesla's China stores do not offer repair or maintenance services and are in high-rent locations where space is limited. read moreTesla sold 318,151 vehicles in China in the first nine months of 2022, up 55% from a year earlier, according the China Passenger Car Association.

☆ EXCLUSIVE Tesla plans mass production start for Cybertruck at end of 2023-sources
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

Tesla said last month that it was working on readying its Austin, Texas plant to build the new model with “early production” set to start in the middle of 2023. “We’re in the final lap for Cybertruck,” Musk told a conference call with financial analysts. CRACKED WINDOWSMusk introduced Cybertruck in a 2019 reveal where the vehicle’s designer cracked the vehicle’s supposedly unbreakable “armor glass” windows. The company has pushed back production timing three times since: from late 2021 to late 2022, then to early 2023 and most recently to the mid-2023 target for initial production. Musk said then the company had "more orders of the first Cybertrucks than we could possibly fulfill for three years after the start of production."

☆ Exclusive: Tesla plans mass production start for Cybertruck at end of 2023
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

Nov 1 (Reuters) - Tesla (TSLA.O) aims to start mass production of its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck Chief Executive Elon Musk unveiled in 2019, two people with knowledge of the plans told Reuters. Tesla said last month that it was working on readying its Austin, Texas plant to build the new model with “early production” set to start in the middle of 2023. “We’re in the final lap for Cybertruck,” Musk told a conference call with financial analysts. The company has pushed back production timing three times since: from late 2021 to late 2022, then to early 2023 and most recently to the mid-2023 target for initial production. In January, Musk had cited shortages in sourcing components as the reason for pushing the launch of Cybertruck into 2023.

☆ Stellantis Jeep joint venture in China to file for bankruptcy
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +4 min

GAC (601238.SS), which approved the bankruptcy filing, said the joint venture had liabilities of almost 111% of its assets of 7.3 billion yuan ($1.00 billion). In the following days, GAC criticised Stellantis and said it was "deeply shocked" by comments from the European carmaker about the end of their joint venture in China. He said then he did not see a major long-term impact from the company's decision to break the joint venture. The former AMC invested in a Beijing Jeep joint venture in 1984, the first such deal for vehicle production in China by an American brand. Tesla (TSLA.O) is the only global automaker that was granted a waiver to produce cars in China without a joint venture.

☆ Stellantis says Jeep joint venture in China to file for bankruptcy
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +3 min

Oct 31 (Reuters) - The venture between Stellantis and Guangzhou Automobile Group producing Jeep vehicles in China is filing for bankruptcy, Stellantis said on Monday, after a lengthy decline for the oldest foreign auto brand in the world's largest market. read moreIn the following days, GAC hit out at Stellantis, saying that it was "deeply shocked" by critical comments from Stellantis about the end of their joint venture in China. read moreSales for the joint venture, which sold the Jeep Cherokee SUV and the Compass crossover, have been in sharp decline for the past four years. He also added that he did not see a major long-term impact from the company's decision to break the joint venture with GAC. The former AMC invested in a Beijing Jeep joint venture in 1984, the first such joint venture deal for vehicle production in China by an American brand.

☆ Renault-backed Beyonca EV venture touts health monitoring, targets Audi in China
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +3 min

Soh, Beyonca's chairman, said the company was targeting the high-end premium segment, where they would compete with models such as Audi's A8L, BMW's 7 Series and Mercedes' S Class. Soh said that by the time the car was launched, third generation EV technology would offer faster charging times and longer driving ranges. Soh acknowledged the difficult backdrop but pointed to steady growth in the premium car segment, which he said had potential annual sales of 3 million cars in China. He declined to say how much Beyonca had raised from investors or how large a stake Renault and Dongfeng held in the company. Beyonca is headquartered in Beijing and has a design center in Munich and an artificial intelligence development hub in Singapore.

☆ China's Huawei slows its long decline under U.S. sanctions as revenues improve
▼ + stars: | 2022-10-27 | by ( David Kirton | ) www.reuters.com time to read: +2 min

Huawei posted revenue of 445.8 billion yuan ($62.03 billion)for the first three quarters, 10 billion yuan less than it saw in the same period a year earlier, the company said on Thursday. Revenue for the third quarter alone came to 144.2 billion yuan, up 6.5% on a year earlier, based on Reuters calculations. "The decline in our device business continued to slow down, and our ICT infrastructure business maintained steady growth." The company is now a bit player behind rivals, including its former budget unit Honor, which it sold in 2020. Huawei is pushing to develop other businesses that are less dependent on U.S. technology, including smart car components, energy efficiency systems and cloud services.

☆ Tesla cuts starter prices for Model 3, Model Y in China by up to 9%
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Oct 24 (Reuters) - Electric vehicle giant Tesla (TSLA.O) has cut starter prices for its Model 3 and Model Y cars by as much as 9% in China, according to listings on the company's Chinese website on Monday. The starting price for the Model 3 sedan was reduced to 265,900 yuan ($36,727.03) from 279,900 yuan, while that for Model Y sport utility vehicle was cut to 288,900 yuan from 316,900 yuan, the product prices listed on its Chinese website showed. Tesla has been adjusting the prices in line with costs, the company told Reuters in a statement. Capacity utilisation at its Shanghai Gigafactory has improved, while the supply chain remains stable, leading to lower costs, it said. Tesla has upgraded its Shanghai factory to be able to produce 22,000 Model 3s and Model Ys per week in total, Reuters previously reported.

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