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Top related persons:
Ralf Brandstätter - 2 Xpeng - 2 Ralf Brandstatter - 2 Zhang Yan - 2 Brenda Goh - 2 ” - 1 Warren Buffett - 1 It’s - 1
Top related locs:
China Shanghai Xpeng Hong Kong German Xinjiang Germany BYD
Top related orgs:
Volkswagen - 3 VW - 3 Audi - 3 SAIC - 3 China Association of Automobile Manufacturers - 2 EV - 2 Thomson - 2 Hong Kong CNN - 1

Search resuls for: "Ralf Brandstätter"


6 mentions found


☆ Volkswagen invests $700 million in Chinese EV maker Xpeng to boost sluggish sales
  + stars: | 2023-07-27 | by ( Laura He | ) edition.cnn.com   time to read: +4 min
The German group’s Audi subsidiary will also work more closely with its existing partner, SAIC Motor, China’s biggest car maker. Shares in Xpeng jumped more than 30% Thursday in Hong Kong, leading a broad rally in Chinese EV stocks. China is the single largest market for Volkswagen, accounting for about 40% of its global sales and half of its profits. In the first quarter of 2023, BYD, the Chinese EV maker backed by Warren Buffett, surpassed Volkswagen to become the largest brand by sales in China, according to official car insurance registration data. The German car maker said it would strengthen its strategic position in China, including beefing up its capacity for e-mobility, digitalization and autonomous driving.
Persons: ”, Ralf Brandstätter, Xpeng, Warren Buffett, It’s Organizations: Hong Kong CNN, Volkswagen, VW, Audi, SAIC, China’s, “ Volkswagen Locations: Hong Kong, German, Xpeng, China, Xinjiang, Germany, BYD, Europe, Hefei, Anhui, Hefei city
☆ Global automakers scramble to reset China strategies as sales slow
  + stars: | 2023-07-27 | by ( ) www.reuters.com   time to read: +6 min
Global automakers, who for years have dominated the market along with their Chinese state-run partners, have been slow to pivot to the fast-growing market for EVs with competitive offerings. "This major collaboration between Volkswagen and Xpeng is a milestone for our electrification strategy 'in China for China'," said Ralf Brandstatter, a VW board member on his social media account. Their deeper pockets give established foreign automakers who are determined to fight for share in China, the ability to play a long game. Kia (000270.KS) is to enter China's EV market with its first EV, the EV6 crossover, via imports in August. "The German brands benefit from significant global scale," said He Lei, CEO of Chinese EV trading platform xChuxing.
Persons: Aly, Yale Zhang, Ralf Brandstatter, We've, Mary Barra, Tu Le, Yang Honghai, Kia, Mercedes Benz, Volkswagen's Audi, Lei, It's, Bill Russo, Automobility, Zhang Yan, Brenda Goh, Kevin Krolicki Organizations: Audi, Volkswagen, Auto, REUTERS, General Motors, Toyota, China Association of Automobile Manufacturers, Global, BMW, Mitsubishi, Automotive Foresight, GM, Reuters Graphics Volkswagen, BYD, China's Xpeng, HK, SAIC, VW, Buick, Chevrolet, Cadillac, CHINA EV INC, Tesla, China EV Inc, Volkswagen's, EV, Mitsubishi Motors, Nissan, Ford, Renault, Thomson Locations: Auto Shanghai, Shanghai, China, SHANGHAI, CHINA, Kia China, KS
☆ Volkswagen buys stake in Xpeng, will jointly develop two new EVs with the Chinese automaker
  + stars: | 2023-07-26 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com   time to read: +1 min
Volkswagen and Xpeng will jointly develop two new VW-brand EVs for China based on Xpeng's electric G9. Volkswagen said Wednesday that it has signed a deal to jointly develop two new electric vehicles for China with Chinese EV maker Xpeng . As part of the deal, Volkswagen will invest about $700 million in Xpeng, taking a 4.99% stake. In a separate statement confirming the deal, Xpeng said the two new vehicles will also incorporate its advanced driver-assist software. Volkswagen also confirmed that its Audi subsidiary has signed a separate deal with its longtime Chinese joint venture partner, Shanghai-based SAIC Motor , to jointly develop new Audi-branded EVs for the Chinese market.
Persons: Xpeng, Ralf Brandstätter Organizations: Xpeng, VW, Volkswagen, Chinese, EV, Audi, SAIC Locations: China, Xpeng, U.S, Shanghai
☆ Tesla offers cash rebate on top models in China
  + stars: | 2023-07-07 | by ( ) www.reuters.com   time to read: +3 min
Tesla said it would offer new buyers of its Model Y and Model 3 vehicles a cash rebate of 3,500 yuan ($483) if they could cite a referral from an existing owner. Tesla also said new buyers would have free access to its Enhanced Autopilot driver-assistance system for 90 days. It is continuing an earlier offer announced in June of 7,000-yuan rebates to buyers of its more expensive Model S and Model X vehicles in China. A number of Tesla owners posted their referral codes online and invited others to use them on Friday, suggesting the cash rebate could be widely available for new buyers. Earlier this week, Tesla cut prices on the Model 3 and Model Y by between 3% and 4% in Japan.
Persons: Tesla, Li Auto, Ralf Brandstatter, Premier Li Qiang, Qiaoyi Li, Zhang Yan, Brenda Goh, Shri Navaratnam, Sonali Paul Organizations: China's EV, China Association of Automobile Manufacturers, Premier, EVs, Thomson Locations: BEIJING, China, China's, Shanghai, Japan
☆ A protestor threw a cake-like pastry at a board member's head during a Volkswagen meeting that descended into chaos
  + stars: | 2023-05-11 | by ( Grace Kay | ) www.businessinsider.com   time to read: +3 min
About a dozen protestors reportedly created chaos at Volkswagen Groups annual meeting on Wednesday. One protestor threw what appeared to be a cake at a board member's head. The Associated Press reported that the pastry was thrown in the direction of Wolfgang Porsche, the chairman of Volkswagen Group's majority shareholder, Porsche SE. But recordings of the moment, uploaded to YouTube from news outlets including The Guardian, show VW Group chairman Hans Dieter Poetsch dodging remnants of the pastry that flew in his direction. A Reuters video from the event shows the protestors being led out of the meeting by security.
☆ Electric vehicles accounted for 10% of global auto sales last year — this could quadruple by 2030
  + stars: | 2023-01-16 | by ( Jacob Zinkula | ) www.businessinsider.com   time to read: +3 min
Electric vehicles accounted for 10% of global auto sales in 2022, preliminary research shows. In the near term, however, there are some signs of slowing demand for electric vehicles in the US. The uptick helped electric vehicles achieve a roughly 10% global market share in the automotive industry for the first time, WSJ reported. CBInsights Auto and Mobility Trends estimated that its global market share could reach 22% by 2030. The Biden Administration, which included a $7,500 tax credit for purchasing an electric vehicle in last year's Inflation Reduction Act, is aiming for half of US vehicle sales to be electric by 2030.
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