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☆ China's EV giants shine at Europe's largest auto show while local rivals despair
▼ + stars: | 2024-10-16 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

China's EV giants left their European rivals in the dust at the continent's biggest auto show. AdvertisementAutomakers flocked to Paris for Europe's largest motor show this week — and China's EV giants were the star attraction. The booth of Chinese EV firm Xpeng was dominated by the company's flying car prototype, which hung from the ceiling. European automakers despairAmong the local automakers at the event, the atmosphere was less positive. Leapmotor CEO Zhu Jiangming and Stellantis CEO Carlos Tavares unveil the Leapmotor B10 at the Paris Motor Show.

Persons: Leapmotor, —, Xpeng, Xiaopeng, Brian Gu, Gu, Oliver Zipse, Luca de Meo, Zhu Jiangming, Carlos Tavares, MAGALI COHEN, Hans Lucas, Ram, Tavares, " Tavares Organizations: EV, Paris, Service, European Union, BYD, Business, BMW, Renault, Leapmotor, Getty, Jeep, Fiat Locations: Paris, Europe, China

☆ We should be learning from Chinese EV players, not shutting them out of Europe — auto bosses say
▼ + stars: | 2024-10-15 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

European car CEOs criticize EU tariffs on Chinese EVs, urging learning from rivals. AdvertisementEuropean car bosses have a solution to the Chinese EV invasion — if you can't beat them, at least learn from them. In an interview with Bloomberg on Monday, de Meo declined to comment on the EU's prospective tariffs on Chinese automakers. Stellantis has partnered with Chinese EV firm Leapmotor, which has given it exclusive rights to sell Leapmotor's EVs outside of China. "We need to understand where the Chinese automakers are strong, and through our investment in Leapmotor we have a perfect transparent understanding of what makes the difference.

Persons: —, Stellantis, Oliver Zipse, BYD, Luca de Meo, de Meo, Henry Ford, Carlos Tavares, Tavares Organizations: Leapmotor, Service, Paris, BMW, European Union, Mercedes, EU, Renault, Fiat, Citroen, Bloomberg, EV, Jeep, Business Locations: China, Europe, Germany, Paris, United States, Leapmotor

☆ The EU just made Chinese EVs a lot more expensive — and created a new threat for European automakers
▼ + stars: | 2024-10-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

Europe is clamping down on Chinese electric cars. European automakers are facing plunging EV sales and pressure over looming emissions targets. AdvertisementEurope is clamping down on Chinese electric cars — but the move to protect the continent's automakers could create a new problem for the likes of Volkswagen and BMW. The European Union voted to impose sweeping tariffs on Chinese EV makers on Friday as it seeks to protect its automotive industry from what the bloc claims are unfairly subsidized cheap Chinese electric vehicles. The European tariffs come after the US introduced its own trade restrictions against Chinese EVs earlier this year.

Persons: —, Teslas, Elon Musk, Tesla, Viktor Orbán, French carmaker Renault, Luca de Meo, Julia Poliscanova Organizations: EU, Service, Volkswagen, BMW, European Union, SAIC, Benz Group, BMW Group, Mercedes, Benz, VW, French, Reuters, Transport, Environment, Transport & Environment, Business Locations: Europe, China, Paris, Germany, Hungary, Frankfurt, Beijing

☆ 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

Politicians and auto executives on both sides of the Atlantic are calling for more protectionist measures. After Tesla lost its crown to BYD as the world’s biggest E.V. Otherwise, the Tesla C.E.O. said, Chinese E.V. The continent’s auto sector employs 13 million people and generates 8 percent of the bloc’s G.D.P.

Persons: China Tesla, —, Warren Buffett, Tesla, Elon Musk, ” Luca de Meo, Vivienne Walt, DealBook, ”, June’s E.U Organizations: Renault Group’s, Airbus Locations: China, Europe, June’s

☆ Psilocybin: These athletes suffered life-changing injuries. Then, they turned to psychedelics.
▼ + stars: | 2024-02-19 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +17 min

Last year, Australia became the first country in the world to legalize clinical prescribing of MDMA, more commonly known as ecstasy, and psilocybin for certain mental health disorders. Elite athletes experience mental health disorder symptoms and psychological distress at similar, if not higher, rates to the general population, researchers pointed out in a study published in the Journal of Applied Sport Psychology. Researchers in the field say that psychedelics are shown to work when treating some mental health conditions. Later, he founded Wesana Health, a biotechnology company which focuses on developing psychedelic medicine for mental health, the most recent being a CBD and psilocybin-based drug. Since her retirement as a professional athlete, Symonds explains that she uses psychedelic drugs for clarity, though not under the direction of a doctor.

Persons: CNN — Daniel Carcillo, Carcillo, ”, Jeff Gross, “, –, Aaron Rodgers, ayahuasca, Dustin Satloff, ” Rodgers, Mike Tyson, Dana White, Courtney Walton, ” Walton, Jeff Novitzky, White, Novitzky, Johns Hopkins, we’ve, ‘, ’ ”, Chris Unger, ” Robin Carhart, Harris, Ralph Metzner, University of California San Francisco, psychedelics, ” Carhart, Carhart, psychedelics aren’t, ” James Rucker, ” Rucker, I’ve, Jonathan Daniel, Lucy, Anna Symonds, Symonds, James MacDonald, Rucker, “ They’re Organizations: CNN, Canadian, NHL, Philadelphia Flyers, New York Rangers, Los Angeles Kings, Chicago Blackhawks, CNN Sport, ” Sporting, Harvard Health, Oregon, UFC, Elite, Applied Sport Psychology, Melbourne School of Psychological Sciences, Athlete Health, University of Miami, Neurology, Psychiatry, University of California San, Centre for Psychedelic Research, Imperial College London, King’s College London, Imperial College of London, Getty, Wesana Health, US Food and Drug Administration, NASDAQ, Lucy Scientific, Former US, Addiction Center, US National Institutes of Health, Numinus Bioscience, Bloomberg, Prevention, Befrienders Locations: Denver, Colorado, psychedelics, Australia, “, Nanaimo

☆ Renault CEO: EV pricing is challenging, but industry must 'fight' for the technology
▼ + stars: | 2024-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRenault CEO: EV pricing is challenging, but industry must 'fight' for the technologyRenault Group CEO Luca de Meo speaks on the automaker's full-year results, its "prudent" guidance and the electric vehicle market.

Persons: Luca de Meo Organizations: Renault

☆ Renault shares jump after scrapping plans to list Ampere EV unit
▼ + stars: | 2024-01-30 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Shares of French car maker Renault jumped 5% in early deals on Tuesday, after the company canceled plans to publicly list its new electric vehicle and software business. Renault's share price rose 5.13% at the market open Tuesday before dipping to trade up 1.7% by 8:30 a.m. London time. De Meo originally announced plans to take Ampere public in 2022, as part of a wider strategy to overhaul the automaker and capitalize on the growing EV market. De Meo said Monday that "market conditions" and the increased profitability of the wider business made the listing untenable. He also pointed to a slowdown in EV sales in Europe, but insisted that the electric market would remain "dominant" in the region due to its decarbonization regulations.

Persons: Luca de Meo, De Meo, Ampere Organizations: Renault, Chinese EV, Financial Times Locations: Chinese, London, Europe

☆ Pope Francis takes on vested interests to speak out on humanitarian crises
▼ + stars: | 2024-01-23 | by ( Analysis Christopher Lamb | ) edition.cnn.com time to read: +18 min

Pope Francis received an emotional welcome on the island during a visit showing solidarity with migrants fleeing war and poverty. ARIS MESSINIS/AFP/Getty Images Pope Francis confesses in St. Peter's Basilica during the Vatican's Penitential Celebration on Friday, March 4, 2016. Alessandro Di Meo/AP Pope Francis arrives for his visit with prisoners in Santa Cruz, Bolivia, on Friday, July 10, 2015. Franco Origlia/Getty Images Pope Francis and Ecumenical Patriarch Bartholomew I address the faithful in Istanbul on Sunday, November 30, 2014. Gokhan Tan/Getty Images Pope Francis speaks during the feast-day Mass while on a one-day trip to Italy's Calabria region in June 2014.

Persons: Pope Francis, Cardinal Michael Czerny, Francis, “, ”, Regina Coeli, Vincenzo Pinto, Juan Manuel Santos, Santos, Alessandra Tarantino, L'Osservatore Romano, VINCENZO PINTO, Simon Bar Sabbae, Pope, FILIPPO MONTEFORTE, Karekin, TIZIANA FABI, Giuseppe Ciccia, MAX, Pope Francis tries, Pope Benedict XVI, Alessandro Di Meo, Evo Morales, OSSERVATORE ROMANO, Vladimir Putin, Putin, Federico Lombardi, Lombardi, Gregorio Borgia, Getty Pope Francis, Raul Castro, Castro, GABRIEL BOUYS, ANDREAS SOLARO, Kurukkal SivaSri, Mahadeva, Pope Francis in, Eranga, Franco Origlia, Bartholomew I, Gokhan Tan, San Gregorio Magno, Queen Elizabeth II, Prince Philip , Duke of Edinburgh, Oli Scarff, Barack Obama, SAUL LOEB, Santa Sabina, Max ROSSI, Daniele De Sanctis, Pope Francis ', FABIO FRUSTACI, Benedict XVI, Benedict, L'OSSERVATORE ROMANO, Osservatore Romano Pope Francis, Vinicio Riva, Riva, CLAUDIO PERI, Rainbow Association Marco Iagulli Onlus, Fotografia, Father Don Renzo Zocca, Osservatore Romano, LUCA ZENNARO, Jorge Saenz, Dan Kitwood, Jesus, Internationalis Paulus VI, Argentine Cardinal Jorge Mario Bergoglio, Roman Catholic Church's, Peter Macdiarmid, Pope Francis Prev, it’s, He’s, Filippo Monteforte, Donald Trump’s, Czerny, Trump, Donald Trump, Melania, Evan Vucci, Reuters “, ” Cardinal Czerny, Cardinal Czerny, doesn’t, Francis ’, “ Jesus Organizations: CNN, Getty Images, Colombian, Revolutionary Armed Forces, International Catholic Rural Association, Vatican, AFP, Getty, Catholic Chaldean, St, Mercy, ARIS MESSINIS, MAX ROSSI, Getty Images Bolivian, Cuban, Sunday, Queen, getty, Rainbow Association, Renault, Catholic, Roman Catholic, Intelligence, Warner Bros, Discovery, “, Republican, Reuters Locations: St, AFP, Colombia, Rome, Tbilisi , Georgia, Auschwitz, Birkenau, Poland, Etchmiadzin, Yerevan, Armenia, Vatican City, Moria, Lesbos, Peter's, Mexican, Havana, Cuba, Mexico, Santa Cruz , Bolivia, South America, Ecuador, Paraguay, La Paz, Bolivia, Italian, Ukraine, Iraq, Syria, Havana and Washington, Vatican, Pope Francis in Colombo, Sri Lanka, Istanbul, Italy's Calabria, Jerusalem's Old City, Argentina, Roman Parish, San, Rome's, Santa, Brazil, Rio de Janeiro, Argentine, America, Gaza, Nove, Lampedusa, Italy, Ciampino, Czechoslovakia, Canada, United States, Africa

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. The group set out financial targets for the unit, including revenue of 25 billion euros in 2031, break-even in 2025 and an operating margin of at least 10% from 2030, ahead of an investor day in Paris. Sources close to the matter told Reuters last month the company was unlikely to go ahead with the IPO if the overall valuation for Ampere fell below 7 billion euros. We will reduce our costs to lower our prices, while improving our margins at the same time," finance chief Thierry Pieton said. ($1 = 0.9195 euros)Reporting by Gilles Guillaume, writing by Silvia Aloisi; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ampere, Luca de Meo's, De Meo, Thierry Pieton, Gilles Guillaume, Silvia Aloisi, Kirsten Donovan Organizations: Renault, Viva Technology, Porte de, REUTERS, Ampere, Reuters, Twingo, Thomson Locations: Porte, Paris, France, PARIS, Europe

☆ Renault sets out targets for EV unit, says won't sell it cheap
▼ + stars: | 2023-11-15 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Nov 15 (Reuters) - French car maker Renault said on Wednesday its electric vehicles unit Ampere, which it plans to list on the market next year, forecast 10 billion euros ($10.8 billion) in revenues in 2025, more than doubling to 25 billion euros in 2031. Finance chief Thierry Pieton told reporters ahead of the presentation Renault would not sell off Ampere cheap and had ample cash flow to keep financing it should it not get the valuation it wanted for an IPO. Asked if Renault could decide to distribute Ampere shares to existing Renault shareholders instead of proceeding with an IPO, he said: "Renault is always open to other options for Ampere, but the IPO is the preferred option." Sources close to the matter told Reuters last month the company was unlikely to go ahead with the IPO if the overall valuation for Ampere fell below 7 billion euros. We will reduce our costs to lower our prices, while improving our margins at the same time."

Persons: Gonzalo Fuentes, Luca de Meo's, Thierry Pieton, Ampere, Pieton, Renault, Gilles Guillaume, Silvia Aloisi Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, Reuters, Finance, Thomson Locations: Porte, Paris, France, Europe

☆ Renault seeks to charge up investors for EV unit IPO
▼ + stars: | 2023-11-15 | by ( Gilles Guillaume | ) www.reuters.com time to read: +3 min

De Meo has targeted a valuation of 8-10 billion euros ($8.6-10.7 billion) for the initial public offering (IPO) of Ampere, which has already been delayed once and is now slated for spring 2024. Two of the sources said Renault was unlikely to go ahead with the IPO if the valuation falls below 7 billion euros, and one said the cut-off point could be closer to 6 billion euros. UBS analysts have valued Ampere at just 3-4 billion euros, and others have questioned the rationale of listing the EV business to raise funds. On Wednesday, De Meo will argue his case for what could be the first attempt by a traditional automaker to unlock value from an EV business via an IPO. Over the first nine months of 2023, Renault brand EV sales fell by around 5% in Europe, having been up 2.5% in the first half, weighed down by a limited line-up.

Persons: Gonzalo Fuentes, Ampere, Luca de Meo's, De Meo, Renault, BEV, de Meo, Elon Musk's Tesla, Zoe, Silvia Aloisi, Mark Potter Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, Reuters, UBS, ICE, Jefferies, Nissan, Elon, EV, Thomson Locations: Porte, Paris, France, Europe

☆ A Hulu exec details how elaborate partnerships 'surprise and delight' audiences and boost followings for big releases like Oprah-produced 'Black Cake'
▼ + stars: | 2023-11-01 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Disney's Hulu has a lot riding on "Black Cake," its adaptation of Charmaine Wilkerson's New York Times bestseller that centers on a Black family and spans decades and geographies from Jamaica to Scotland to California. Several Caribbean bakeries across the US will give out samples of black cake, the rum-soaked treat that's at the heart of the story. Hulu's partnerships start with the audienceMatthews and her team put together about a dozen partnerships a year tied to big releases. For "Black Cake," the book's fan base and defining themes were front and center for Hulu. Customers must be members of Barnes & Noble's Premium Membership ($39.99 a year) to see the "Black Cake" sneak peek, which let the bookseller promote its rewards program.

Persons: Charmaine Wilkerson's, Marissa Jo Cerar, Oprah Winfrey, Aaron Kaplan, Hulu, Noble, Adia Matthews, Matthews, screeners, —, Danny Trejo —, Postmates, Selena Gomez's, Cynthia Di Meo, Mabel Mora, Influencers, Barnes Organizations: Hulu, Charmaine Wilkerson's New York Times, Harpo Films, Entertainment, Barnes, Spelman College, Howard University, Hollywood, Con, Samba, Walt Disney Co, Disney Locations: Jamaica, Scotland, California, Caribbean, it's, Southern California, Los Angeles, LA, American, Hollywood

☆ Renault had 'friendly' discussions with Chinese investment bank - spokesperson
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Oct 31 (Reuters) - French carmaker Renault (RENA.PA) had "friendly" discussions with Chinese investment bank CICC about potential cooperation, but nothing has been signed or decided so far, a company spokesperson said, confirming media reports. "A meeting took place between CICC and Renault Group for friendly discussions about China's market," a spokeswoman told Reuters. Chinese media outlet Cailianshe reported on Friday that Renault and CICC had reached a preliminary intention agreement to jointly invest to establish an investment fund to focus on the NEV industry chain, citing people familiar with the matter. Cailianshe added that Renault CEO Luca de Meo was in China for a week long visit.

Persons: Gonzalo Fuentes, carmaker, CICC, Luca de Meo, Gilles Guillaume, Brenda Goh, Roxanne Liu, Tassilo Hummel, Marine Strauss, Louise Heavens Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, carmaker Renault, Renault Group, Reuters, Thomson Locations: Porte, Paris, France, CICC, China, Shanghai, Beijing

One of them said that the cut off point could be closer to 6 billion euros ($6.33 billion). Some analysts had already questioned Renault's hoped-for valuation of up to 10 billion euros, with some suggesting the carmaker should pursue alternative options to raise cash. De Meo said in September that the listing could value Ampere at between 8 and 10 billion euros, above the French carmaker's own current market capitalisation of 9.55 billion euros. Other EV makers have seen their market value fall sharply in recent months. The Ampere IPO would include a mix of Renault's shares and new shares and could happen as early as April 2024, one of the people said, depending on market conditions.

Persons: Gonzalo Fuentes, Ampere, France's, Tesla, Renault's, Luca de Meo, China's Geely, IPOs, De Meo, Bernstein, de Meo, Elon Musk's Tesla, Mathieu Rosemain, Silvia Aloisi, Pablo Mayo Cerqueiro, Gilles Guillaume, Anousha Sakoui, Alexander Smith Organizations: Renault, Viva Technology, Porte de, REUTERS, Reuters, DKV Mobility, HK, Saudi Arabia's Aramco, Nissan, IPOs Renault, EV, Commission, UBS, Barclays, Ampere, Mitsubishi, Thomson Locations: Porte, Paris, France, LONDON, China, Saudi, Europe, Ampere, Elon

☆ Renault sets Nov. 15 date for first investor day for EV unit Ampere
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: 1 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes//File Photo Acquire Licensing RightsCompanies Renault SA FollowPARIS, Oct 5 (Reuters) - Renault (RENA.PA) on Thursday announced the first investor day for its future electric vehicle company, named Ampere, will take place on November 15. Renault's Chief Executive Luca De Meo last month said the unit, which Renault plans to list on the stock exchange as a standalone business by spring 2024, could be valued at up to 10 billion euros ($10.47 billion). ($1 = 0.9550 euros)Reporting by Gilles Guillaume, writing by Tassilo Hummel, editing by Geert De ClercqOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ampere, Luca De Meo, Gilles Guillaume, Tassilo Hummel, Geert De Clercq Organizations: Renault, Viva Technology, Porte de, REUTERS, Companies Renault SA, PARIS, Thursday, Renault's, Thomson Locations: Porte, Paris, France

☆ EU car group calls for urgent action on post-Brexit trade rules
▼ + stars: | 2023-09-24 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

Puzzle with printed EU and UK flags is seen in this illustration taken November 13, 2019. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 25 (Reuters) - The European Union and Britain need to take urgent action to postpone rules for electric vehicles traded between the bloc and the UK that will trigger 10% tariffs, Europe's car industry group said on Monday. Under the EU-UK post-Brexit trade deal, EVs need to have 45% EU or UK content from 2024, with a 50%-60% requirement for their battery cells and packs, or face British or EU import tariffs of 10%. The ACEA has said the rules could cost carmakers up to 4.3 billion euros ($4.57 billion) in tariffs and hit output. In June, Stefan Fuehring, a European Commission official overseeing the post-Brexit EU-UK trade agreement, said the EU rules of origin were "fit for purpose" and that the bloc was not considering changing them.

Persons: Dado Ruvic, Luca de Meo, Stefan Fuehring, Nick Carey, Barbara Lewis Organizations: REUTERS, European Union, Automobile Manufacturers ' Association, Renault, EU, Ford, European Commission, Thomson Locations: Britain, British, EU

☆ Renault to maintain mixed ethanol combustion engines in Brazil
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. "It still pays to invest in combustion in Brazil," top executive Ricardo Gondo said at an event, adding that the industry will need more federal incentives to accelerate its EV transition. Renault is planning to launch Brazilian sales of an electric version of its French-made Kangoo van in October, when it will also launch its Kardian combustion engine SUV, set to be manufactured locally. Earlier this month, Renault CEO Luca de Meo warned a "very competitive" industry in China and that it will need to "catch up fast". ($1 = 4.9256 reais)Reporting by Alberto Alerigi Jr.; Writing by Carolina Pulice; Editing by Sarah Morland and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ricardo Gondo, Gondo, van, JAC, Luca de Meo, Luiz Inacio Lula da Silva, Jair Bolsonaro, Alberto Alerigi Jr, Carolina Pulice, Sarah Morland, Marguerita Choy Organizations: Renault, Viva Technology, Porte de, REUTERS, SAO PAULO, EV, Wall Motor Co, Chery, Qualcomm, Nissan, Brazilian, Thomson Locations: Porte, Paris, France, Brazil, French, Parana, China

☆ Explainer: How France aims to discourage buying of Chinese EVs
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +4 min

WHY IS FRANCE REVISING ITS EV BONUS ELIGIBILITY RULES? However, in the absence of cheap European-made EVs, a third of all incentives are going to consumers buying EVs made in China, a French finance ministry source said. Because Chinese industry generally relies heavily on coal-generated electricity, the criteria are likely to put the bonus out of Chinese carmakers' reach. But French car buyers will have to wait because Stellantis' (STLAM.MI) Slovakia-made e-C3 city car and Renault's (RENA.PA) France-made R5 are not due to hit the market until 2024. The model is currently one of the best-selling electric car's in France with the Tesla Y, Peugeot's e-208, Fiat's 500e, the Megane eTech and MG4.

Persons: Angelika Warmuth, EVs, Emmanuel Macron, Stellantis, MG4, Lorraine Morard, Luca De Meo, Tesla, BYD, Gilles Guillaume, Leigh Thomas, Sharon Singleton Organizations: Company, REUTERS, Rights, Reuters, SAIC, P Global, Renault, Thomson Locations: Munich, Germany, France, China, Europe, FRANCE, French, Slovakia, Dacia Spring

Brussels/London CNN —The European Union is launching an investigation into China’s state support for makers of electric vehicles as soaring imports of their cars stoke fears for the future of European auto manufacturers. “So I can announce today that the commission is launching an anti-subsidy investigation into electric vehicles coming from China.”Europe levies a duty of 10% on cars imported from China. That compares with duty of 27.5% in the United States, and China’s manufacturers have taken advantage to carve out a significant and rapidly growing foothold in the European market. And in the last five years, EU imports of Chinese cars have quadrupled. The European Commission investigation could lead to the imposition of tariffs on Chinese EV imports, and von der Leyen’s announcement rattled the stocks of China’s biggest EV companies listed in Hong Kong.

Persons: Ursula von der Leyen, “, ” von der Leyen, von der, Warren Buffett, Nio, Li Yunfei, Oliver Zipse, Luca de Meo, ”, Sigrid de Vries, Laura Organizations: London CNN, China Passenger Car Association, UBS, The, EV, European Automobile Manufacturers ’ Association, Senior, EU, Jato Dynamics, BMW, Renault, European Locations: Brussels, London, Europe, China, United States, Hong Kong

☆ SpaceX’s Starlink partners with European satellite giant SES for combined cruise market service
▼ + stars: | 2023-09-13 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

SES will manage the joint offering, called "SES Cruise mPOWERED + Starlink," as a service that it says will provide high-speed, reliable internet service to cruise ships, regardless of whether they're clustered in port or far out at sea. PARIS – European satellite operator SES is teaming up with SpaceX's Starlink to offer a combined service to cruise operators, the companies announced on Wednesday. SpaceX has launched over 5,000 Starlink satellites to date and had over 1.5 million customers as of May. SES said it's in discussions with multiple initial cruise customers for the combined service, but declined to specify further. And the companies are also talking about other potential markets that would be a fit for the combined SES and Starlink service.

Persons: Pinto, MEO, Ruy Pinto, SpaceX's Starlink, Chad Gibbs, Starlink, it's, " Pinto Organizations: SES, GEO, MEO, LEO, CNBC, SpaceX, Starlink, Intelsat, Royal Caribbean Cruises, Revenue Locations: Luxembourg, PARIS, European

☆ IAA Mobility: China's automakers take the world by storm with EV push
▼ + stars: | 2023-09-07 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Leonhard Simon/Getty ImagesEven before the show kicked off, Renault chief executive Luca de Meo was on French radio talking up the rapid advances made by Chinese EV makers. Competitors worry that Chinese brands may eventually dominate the global EV market. In Europe, the top destination for China’s car exports, sales of Chinese EVs are booming. Supply chain advantageA major factor contributing to the lower cost of Chinese EVs is the country’s dominance of the EV battery supply chain. However, geopolitical tensions could complicate Chinese EV firms’ global push.

Persons: Leonhard Simon, Luca de Meo, ” de Meo, ” “, ”, Dylan Khoo, Li Yunfei, Oliver Zipse, Khoo, It’s, — Hanna Ziady, Olesya Dmitracova Organizations: Hong Kong CNN, Visitors, Renault, Chinese EV, RTL Radio, China Association of Automobile Manufacturers, China Passenger Car Association, Union, UBS, Europe Auto, EV, New, Research, Deloitte, BMW, ABI Research, Jato Dynamics, “, China’s SAIC, MG, IAA, SNE Research Locations: China, Hong Kong, Munich, Germany, Chinese, Europe, Australia, Southeast Asia, Japan, Russia, New York, United States, France, British, United Kingdom, South Korean

☆ Chinese EVs are now seen posing a 'real threat' to Europe's auto industry
▼ + stars: | 2023-09-06 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesChinese electric vehicles pose "a real threat" to the European car industry, according to Christian Kames, managing director at financial advisory firm Lazard. Kames spoke from the IAA Mobility Conference in Munich, where the number of Chinese companies has soared since the last event. watch nowThe increase in Chinese companies in attendance shows that these firms "really have the European market … as the next market they want to conquer," Kames said. European companies are 'ready to engage'European auto manufacturers are well aware of the competition brought about by Chinese companies, Christian Kames told CNBC. "[European carmakers] get it now, that the Chinese [automakers] are a real threat.

Persons: Christian Kames, Lazard, Kames, Warren Buffet, carmaker BYD, Xpeng, Brian Gu, Luca De Meo, Monday, De Meo, China's, Chris Reitermann, CNBC's Evelyn Cheng, Reitermann Organizations: Munich, Bloomberg, Getty, IAA, IAA Mobility, CNBC, UBS, Renault, Ogilvy Asia Pacific Locations: Munich, Germany, Asia, Europe, Hangzhou, China, Swiss, European, Greater China

[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

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