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☆ Huawei sets up new smart car company in Shenzhen, China as it gets more serious about autos
▼ + stars: | 2024-01-18 | by ( Michelle Toh | Wayne Chang | ) edition.cnn.com time to read: +5 min

The company incorporated Shenzhen Yinwang Intelligent Technology Co Ltd on Tuesday in the southern Chinese city of Shenzhen, where Huawei is based. The news marks another milestone for Huawei, which has accelerated its automotive ambitions in the past three years. But it has been hobbled in recent years by US export restrictions, which sent the company into a tailspin. The unveiling coincided with a launch by Chinese rival Xiaomi of its own first electric car, showing how competition between the two companies has spilled over to another sector. In November, a subsidiary of Changan, a Chinese state-owned automaker, disclosed that it had partnered with Huawei to form a new company created to provide smart car systems.

Persons: Elon Musk’s Tesla, Warren Buffett Organizations: Taipei CNN, Huawei, Intelligent Technology Co, Elon, Chongqing Changan Automobile Co, Changan, Shenzhen Yinwang, Automotive, Ministry of Industry, Information Technology, Economic Locations: Hong Kong, Taipei, Shenzhen, China, Changan, Chongqing, United States, Davos, Switzerland

Main auto partner Chongqing Changan Automobile (000625.SZ) and relevant parties will own up to 40% of the new firm, a Changan Auto statement showed on Sunday. Neither Changan Auto nor Huawei disclosed financial details. Changan Auto referred Reuters to its Sunday statement and declined to comment further. Huawei has partnerships with other auto companies, including Seres Group (601127.SS) and Jianghuai Automobile (600418.SS), as well as with Changan Auto involving EV brands Avatr and Deepal. The proposed deal will also smooth the way for the business' listing, as Huawei had planned, said two of the people.

Persons: Ren Zhengfei, Ren, Richard Yu, Julie Zhu, Zhuzhu Cui, David Kirton, Brenda Goh, Christopher Cushing Organizations: Huawei Technologies, Changan Auto, Bosch, Chongqing Changan Automobile, Huawei, Auto, China Ordnance Equipment Group, China South Industries, FAW Group, Dongfeng Motor, HK, Reuters, Seres, Jianghuai, Changan, EV, Thomson Locations: HONG KONG, SHANGHAI, Chongqing, China, Changan, Shanghai

☆ Huawei to move smart car operations to new joint company with Changan
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 26 (Reuters) - China's Huawei (HWT.UL) said on Sunday it will move core technologies and resources in its smart car unit, which has chalked up robust sales for a number of new vehicles, to a new joint company owned up to 40% by automaker Changan Auto. The new company will engage in research and development, production, sales and service of intelligent automotive systems and component solutions, Huawei said in a press release. "The new company will ... work with partners to promote innovation and leadership in smart car technology and promote the prosperity and development of the automotive industry," the release said. "The two parties will jointly support the target company to become an industry leader in automotive intelligent systems and component solutions based in China," the filing said. Huawei has repeatedly said it does not make cars on its own but only helps other automakers make better vehicles.

Persons: Yu Chengdong, Changan, Laurie Chen, Brenda Goh, Edmund Klamann Organizations: Huawei, Changan Auto, Chongqing Changan Automobile, Shenzhen Stock Exchange, Seres, Chery, Thomson Locations: BEIJING, Chongqing, China, Shenzhen, Beijing, Shanghai

☆ China's CATL launches fast charging LFP battery, mass production expected by year-end
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

People walk past the booth of the battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) at the Auto Shanghai show, in Shanghai, China April 18, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING/SHANGHAI, Aug 16 (Reuters) - Chinese battery giant CATL(300750.SZ) on Wednesday launched a fast charging lithium iron phosphate or LFP battery capable of running 400 km (248 miles) on a 10-minute charge. "We hope through continuous efforts to improve technology and reduce costs, Shenxing will become a standard product available for every electric vehicle," Gao said. Automakers such as Chongqing Changan Automobile and Guangzhou Automobile Group also sourced more batteries from smaller suppliers to reduce costs. Reporting by Zhang Yan, Qiaoyi Li and Brenda Goh; Editing by Himani Sarkar and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, ， Gao Han, CATL's, Gao, CATL, Zhang Yan, Qiaoyi Li, Brenda Goh, Himani Sarkar, Tomasz Janowski Organizations: Amperex Technology, ., Auto, REUTERS, Rights, Wednesday, Chongqing Changan Automobile, Guangzhou Automobile Group, Thomson Locations: Auto Shanghai, Shanghai, China, Rights BEIJING, SHANGHAI, Chongqing

☆ Changan Ford Motor to set up electric car JV with Chongqing Changan Auto
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

Workers assemble vehicles at a plant of Changan Ford, a joint venture between Changan Automobile and Ford Motor Company, in Harbin, Heilongjiang province, China February 22, 2017. REUTERS/Stringer/File PhotoBEIJING, Aug 11 (Reuters) - Changan Ford Motor plans to set up a new-energy passenger car joint venture with state-owned Chongqing Changan Automobile (000625.SZ), according to a document published by China's market regulator on Friday. Changan Ford Motor will own a 60% stake and Chongqing Changan Automobile will have the remaining 40% stake. In the future, the joint venture plans to engage in the "supply business of mainstream brand new energy passenger vehicles and the distribution business of Ford brand models that Changan Ford has invested in," the statement said. Officials at Ford and Changan could not immediately be reached for further comment.

Persons: Changan Ford, Stringer, Ford, Tesla, Farah Master, Twinnie Siu, Zhang Yan, Ben Klayman, Louise Heavens, Susan Fenton Organizations: Changan Automobile, Ford Motor Company, REUTERS, Ford Motor, Chongqing Changan Automobile, Ford, China Association of Automobile Manufacturers, Thomson Locations: Harbin, Heilongjiang province, China, BEIJING, Chongqing, Changan, Hong Kong, Shanghai, Beijing, Detroit

☆ Chinese battery giant CATL posts 63% growth in Q2 profit
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 25 (Reuters) - Chinese battery giant CATL (300750.SZ) on Tuesday recorded a 63.22% rise in net profit for the second quarter, as the company scrambled to maintain its industry leadership amid intensifying competition in the electric vehicle (EV) battery market. This compared to a 558% surge in its net profit in the first quarter. China's battery makers including CATL are facing challenges of weakening demand and bigger cost reduction pressure from EV makers amid a price war and a slowdown in auto sales this year. The EV battery market grew at a much slower pace this year with a 36.8% increase in battery installation volume in the first half compared with the 176.4% growth in the same period in 2022, data from China Automotive and Battery Alliance showed. ($1 = 7.1379 Chinese yuan renminbi)Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh; Editing by Sam Holmes, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Qiaoyi Li, Zhang Yan, Brenda Goh, Sam Holmes, Kirsten Donovan Organizations: EV, China Automotive, Battery Alliance, Chongqing Changan Automobile, Guangzhou Automobile Group, Thomson Locations: BEIJING, Chongqing

☆ Mazda says needs China strategy overhaul to catch up with market
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

TOKYO, July 14 (Reuters) - Japan's Mazda Motor (7261.T) needs to overhaul its strategy in China, the world's biggest auto market, where it faces increasingly tough competition from domestic players, the automaker's chief executive said on Friday. CEO Masahiro Moro said business conditions for Mazda in China, where it has a joint venture with Chongqing Changan Automobile (000625.SZ) and China FAW, would become increasingly tough over the coming year to 18 months. Its sales in China peaked in 2016 at just over 316,000 vehicles, separate industry data showed. Mazda is not alone in finding the Chinese market increasingly tough. Looking beyond China, Moro said if Mazda were to begin EV production in North America, it would happen after 2027, which marks the end of the middle phase of its business plan for this decade.

Persons: Masahiro Moro, Moro, Daniel Leussink, Jason Neely, Kim Coghill, Barbara Lewis Organizations: Mazda, Chongqing Changan Automobile, China FAW, Mitsubishi Motors, Guangzhou Automobile Group, Toyota Motor, Thomson Locations: TOKYO, China, Chongqing, North America, Huntsville , Alabama

☆ Chinese electric vehicle investment plans in Thailand
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +4 min

July 10 (Reuters) - Chinese electric vehicle manufacturers are pouring into Thailand, having committed to invest $1.44 billion in production facilities in Southeast Asia's biggest automaking hub that has long been dominated by Japanese companies. IN THE PIPELINESeveral deals are also in the pipeline, according to the Thailand Board of Investment (BOI), which has been pursuing Chinese automakers. Chongqing Changan, GAC and Chery did not respond to requests for comment on their plans for Thailand. RISING POPULARITYThe influx of Chinese models appears to be helping to boost the popularity of EVs in Thailand, the second-largest car market in Southeast Asia. On Toyota's (7203.T) Thailand website, the Corolla Altis is priced at 894,000 baht and the Yaris Ativ at 549,000 baht.

Persons: China's, Thailand's, BOI, Geely, Wall's Ora, Devjyot, Jamie Freed Organizations: Asia's, General Motors, EV, Electronics, Auto, SAIC, Charoen, New Energy, Assembly, of Investment, State, Chongqing Changan Automobile, Ford, Mazda, Guangzhou Automobile Group, China's Chery, Chongqing Changan, GAC, Chery, Reuters, Corolla, Thomson Locations: Thailand, EVs, Southeast Asia, Europe, Chongqing, China, BOI, Bangkok

☆ China's Changan denies arbitrarily cutting payments to suppliers
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

BEIJING/SHANGHAI, June 7 (Reuters) - China's Chongqing Changan Automobile (000625.SZ), in a statement sent to Reuters on Wednesday, denied allegations reported in local media that it had arbitrarily cut payments to suppliers by 10%. The state-owned automaker said it was normal to negotiate prices regularly with suppliers due to changes in raw material costs, demand, and supply and product innovations. It also denied it had received a letter from suppliers complaining about cutting payments to them. One of the sources said the amount by which Changan was asking suppliers to reduce their prices varied, with some bigger suppliers asked to absorb cuts of less than 10%. Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh; Editing by Tom Hogue and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Changan, Qiaoyi Li, Zhang Yan, Brenda Goh, Tom Hogue, Kim Coghill Organizations: Chongqing Changan Automobile, Reuters, Thomson Locations: BEIJING, SHANGHAI, Chongqing

[1/2] The logo of Chinese carmaker Geely Auto is pictured at the second media day for the Shanghai auto show in Shanghai, China April 17, 2019. Thailand's Board of Investment held discussions with five major Chinese EV makers including Geely during a roadshow to China in April, its Secretary-General Narit Therdsteerasukdi said. "All expressed keen interest in Thailand's policy to develop a regional EV production base and an integrated EV supply chain," Narit said, without providing more details of the talks with Geely. BYD and China's Great Wall Motor Co Ltd (601633.SS) are already working on building local EV production in Thailand. China's Great Wall Motor has said it is considering a research and development centre in Thailand that could work on battery-powered pickup trucks.

Persons: Aly Song BANGKOK, Geely, Narit Therdsteerasukdi, JAC Motors, Narit, Aston Martin, China's, Devjyot Ghoshal, Zhang Yan, Jamie Freed Organizations: Shanghai, REUTERS, Reuters, of Investment, BYD Co, Chongqing Changan Automobile Co, Jiangling Motors Corp Ltd, EV, Wall Motor Co, Volvo, Aston, Malaysian carmaker Proton, Toyota Motor Corp, Isuzu Motors, Thomson Locations: Shanghai, China, Thailand, Chongqing, Geely, Swedish, Southeast Asia

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