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☆ Porsche: deliveries up in every region but China in first 9 months of 2023
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: 1 min

A Porsche logo is seen on a vehicle 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. REUTERS/Angelika Warmuth/File photo Acquire Licensing RightsCompanies Dr Ing hc F Porsche AG FollowBERLIN, Oct 13 (Reuters) - Porsche (P911_p.DE) said on Friday that deliveries worldwide for the first nine months of 2023 were up 10% on the year, reaching 242,722 vehicles, with growth seen in every region but China. China sales fell 12% in the same January to September period, reaching 60,748 vehicles, due to the continuing challenging economic situation in the region, it said. Writing by Miranda Murray, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: Angelika Warmuth, Ing, Miranda Murray, Friederike Heine Our Organizations: REUTERS, Ing hc F Porsche, BERLIN, Porsche, Thomson Locations: Munich, Germany, China

OTTAWA, Oct 13 (Reuters) - Canada's Supreme Court on Friday ruled a federal law assessing how major infrastructure projects like coal mines and oil sands plants impact the environment is largely unconstitutional, in a blow to Prime Minister Justin Trudeau's government. "This is a significant setback for the federal government," said David Wright, a law professor at the University of Calgary. "The court has said the federal government can enact environmental assessment legislation but the way they went about it, for most of this law, goes too far." The IAA was drafted by Trudeau's Liberal government in 2019 in a bid to streamline and restore trust in the environmental approval process for major projects. Last year the federal government warned Suncor the environmental impact from expanding Base Mine would be "unacceptable" under the IAA because expected carbon emissions were too high.

Persons: Justin Trudeau's, Bill C, Richard Wagner, David Wright, Wright, Danielle Smith, Trudeau, Mike Martens, Major, Ismail Shakil, Nia Williams, David Ljunggren, Deborah Kyvrikosaios, Richard Chang Organizations: OTTAWA, Alberta, University of Calgary, IAA, Trudeau's Liberal, Liberals, Industry, Independent Contractors, Association Alberta, Thomson Locations: Canada, Ottawa, Alberta

☆ China market hard going for BMW and Mercedes in third quarter
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

Mercedes-Benz's supply issues affected its global sales, which fell 4% year-on-year in July-September, although the company said it was still on track to meet its full-year guidance for flat sales growth. BMW fared better, reporting a 5.8% rise in its global retail sales to 621,699 vehicles in July-September, but said retail sales in China of BMW and Mini models dropped 1.8%. BMW said that year-to-date sales in China were up 1.7% despite the drag on sales in the third quarter, while Mercedes-Benz nine-month wholesale figures in the country were at the previous year's level. It does not disclose detailed retailed sales but a spokesperson said they were positive in the third quarter and on a nine-month basis. BMW said its global retail sales were up 5.1% so far this year.

Persons: Leonhard Simon, carmakers Mercedes, Mercedes, Carmakers, Benz, Victoria Waldersee, Miranda Murray, Friederike Heine, Susan Fenton Organizations: Mercedes, Benz, REUTERS, Rights, BMW, GLC, Thomson Locations: German, Munich, Germany, China

"The backlash, like a boomerang, can be bigger than what one imagined," he said, referring to potential retaliation by China on European carmakers. While 90% of BMW cars sold in China are produced locally, some materials are shipped from Europe to China, Mertl said. China has condemned the EU investigation, which formally began on Thursday, as out of line with World Trade Organization rules and detrimental to the global growth of EV sales. Asked whether the premium carmaker was seeing dampened demand for EVs reported by Volkswagen (VOWG_p.DE) in recent weeks, Mertl said EV sales were rising and the company was on track to hit its goal of 15% fully-electric sales for the year. Some supply chain problems in logistics and transport persisted and could carry on for the next six months, he added.

Persons: Angelika Warmuth, Walter Mertl, Mertl, Victoria Waldersee, Christina Amann, Friederike Heine, Mark Potter Organizations: BMW, REUTERS, Rights, World Trade Organization, Volkswagen Locations: Munich, Germany, China, Europe, Beijing, European

☆ Porsche-backed Sensigo deploys AI tools to smooth vehicle repairs
▼ + stars: | 2023-10-05 | by ( Paul Lienert | ) www.reuters.com time to read: +2 min

REUTERS/Leonhard Simon/File Photo Acquire Licensing RightsOct 5 (Reuters) - German automaker Porsche (P911_p.DE) and investor UP.Partners have launched Sensigo, a California-based startup using artificial intelligence to enable vehicle service technicians to diagnose, resolve and eventually predict repair issues. Sensigo said its AI-powered service platform and tools can improve the repair process for customers and techs, while boosting service center profitability, reducing repair costs and minimizing warranty risk. The partners’ first startup, Pull Systems, announced in March, manages electric vehicle battery performance. In addition to Porsche, UP’s investment partners include Toyota’s (7203.T) Woven Capital, Alaska Air Group (ALK.N), ARK Invest and others. Portfolio companies include aerial vehicle startups Skydio and Beta Technologies.

Persons: Leonhard Simon, UP.Partners, Sensigo, Paul Lienert, Nick Macfie Organizations: Porsche, REUTERS, Systems, Alaska Air Group, ARK Invest, Beta Technologies, Thomson Locations: German, Munich, Germany, California, Santa Monica, Capital, United States, Detroit

☆ Porsche AG confirms 2023, long-term margin outlook
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 min

A Porsche logo is seen on a vehicle 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. REUTERS/Angelika Warmuth/file photo Acquire Licensing RightsFRANKFURT, Sept 28 (Reuters) - Luxury carmaker Porsche AG (P911_p.DE) on Thursday confirmed its 2023 outlook, saying demand for its cars remained strong despite the challenging macroeconomic environment. This also influenced the price of the (Porsche AG) share." Still, the company said it still expects an operating return on sales of 17%-19% in 2023 on sales of 40 billion to 42 billion euros ($42.05 billion to $44.15 billion), as well as a return on sales of more than 20% long-term. ($1 = 0.9512 euros)Reporting by Christoph Steitz, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Persons: Angelika Warmuth, Porsche, Christoph Steitz, Rachel More Organizations: REUTERS, Rights, Porsche AG, Porsche, Thomson Locations: Munich, Germany, China

☆ 2,300-year-old tomb found in Israel may contain remains of Greek courtesan
▼ + stars: | 2023-09-27 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +5 min

CNN —Archaeologists in Israel have discovered what they believe to be the remains of an Ancient Greek courtesan. Stiebel told CNN that he and his team believe the woman would have been among the first Greeks to arrive in the region. Liat Oz, the director of the excavation on behalf of the IAA, described the mirror found in the tomb alongside the remains. Researchers say the mirror is incredibly rare, with just 63 discovered in the Hellenistic world. Stiebel told CNN that the team are continuing with further research in order to “zoom in” on the finer details of the mirror.

Persons: Guy Stiebel, Emil Aladjem, ”, Alexander the Great, Stiebel, Oz, “, Alexandra the Great, ” Stiebel Organizations: CNN, Archaeologists, Tel Aviv University, Israel Antiquities Authority, Israel Antiquities Authority “, IAA Locations: Israel, Kibbutz, Jerusalem, East, Ancient Greece, Egypt, Rome, Greece

☆ Tesla to face EU anti-subsidy probe over China exports- FT
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: 1 min

Tesla's Model 3 is 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. REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowSept 26 (Reuters) - Tesla (TSLA.O) and European carmakers that export from China to the EU will be part of the bloc's probe into whether the country's electric vehicles industry is receiving unfair subsidies, the Financial Times reported on Tuesday, citing Brussels' most senior trade official. Reporting by Shivani Tanna in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Angelika Warmuth, Shivani Tanna, Shinjini Organizations: REUTERS, Financial Times, Thomson Locations: Munich, Germany, China, Brussels, Bengaluru

☆ Workers with Canadian union Unifor vote in favor of Ford contract
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: 1 min

Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsCompanies Ford Motor Co FollowSept 24 (Reuters) - Canadian labor union Unifor said on Sunday its members had voted to ratify a new contract with Ford Motor (F.N), a relief for the Detroit automaker locked in a separate tussle with its U.S. union over demands for better pay and benefits in the country. Reporting by Nathan Gomes and Mrinmay Dey in Bengaluru Editing by Pooja Desai and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Wolfgang Rattay, Unifor, Nathan Gomes, Mrinmay Dey, Pooja Desai, Matthew Lewis Organizations: REUTERS, Ford, Ford Motor, Detroit, Thomson Locations: Frankfurt, Germany, Bengaluru

☆ BYD says talk of leaked commercial secrets 'purely rumours'
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

People stand next to BYD Company vehicles, at the 2023 IAA Mobility auto show, in Munich, Germany, September 10, 2023. REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsCompanies BYD Co Ltd FollowBEIJING, Sept 22 (Reuters) - Online discussions saying BYD workers leaked commercial secrets are purely rumours, the Chinese automaker said in a social media post on Friday. BYD also said the person responsible for spreading the rumour has been apprehended by police and that the firm plans to take legal action. In the statement, BYD posted screenshots of social media posts of the rumour which said an employee at the company's semiconductor foundry division had leaked a client's chip engineering drawing to U.S. politicians. BYD is the top-selling auto brand in China by sales in the first eight months of the year with pure electric and plug-in hybrid models.

Persons: Angelika Warmuth, BYD, Liz Lee, Jason Neely Organizations: BYD Company, REUTERS, BYD, Beijing, Thomson Locations: Munich, Germany, BEIJING, 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

☆ China EV adviser sees tech tie-ups resolving EU trade conflicts
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

Robotic arms assemble cars in the production line for Leapmotor's electric vehicles at a factory in Jinhua, Zhejiang province, China, April 26, 2023. Meanwhile, European automakers can also leverage China's EV technologies to accelerate their transition to electrification, he added. Chinese EV maker Xpeng (9868.HK) in July struck a deal with Volkswagen (VOWG_p.DE) to jointly build two new models based on Xpeng's EV platform in China. Others, like LeapMotor (9863.HK) are also seeking to license its EV technologies to foreign partners. Chinese battery maker CATL (300750.SZ) has been ramping up its German plant and is building another site in Hungary.

Persons: Dong Yang, EVs, Ursula von der Leyen, Zhang Yan, Brenda Goh, David Evans Organizations: REUTERS, Rights, European Commission, EV, China's Ministry of Machinery, BAIC Group, Gang, Munich IAA, European, Xpeng, HK, Volkswagen, Thomson Locations: Jinhua, Zhejiang province, China, Europe, Munich, Hungary

☆ Nikola expands dealer network into Canada for its electric trucks
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Fabian Bimmer Acquire Licensing RightsCompanies Nikola Corp FollowSept 15 (Reuters) - Nikola (NKLA.O) said on Friday it would expand its dealer network into Canada for heavy-duty truck sales in a partnership with trailer manufacturer ITD Industries, sending the electric-truck maker's shares up 5% in morning trading. Nikola, which makes battery electric and fuel cell electric Class 8 trucks, has been facing issues, including two fires within a week in September involving its vehicles. Earlier in August, the company said it was recalling all the battery-powered electric trucks that it had delivered till date after an investigation revealed coolant leaks inside a battery pack. Nikola's CEO Steve Girsky, however, told investors on Wednesday that the battery electric truck recall would not affect the production or deliveries of its fuel cell electric vehicles since they use a different battery pack from a different supplier. The company plans to begin deliveries of the hydrogen fuel cell vehicle in late September and early October, he added.

Persons: Nikola, Fabian Bimmer, NKLA.O, Steve Girsky, Zaheer Kachwala, Shilpi Majumdar Organizations: IAA Transportation, REUTERS, Nikola, ITD Industries, Thomson Locations: Hanover, Germany, Canada, Bengaluru

Analysts said the probe could slow capacity expansion and the capital spending cycle of China's battery suppliers, although the move should not pose a big downside risk for Chinese EVs. Hong Kong shares of market leader BYD fell more than 3%. Nio and Geely declined to comment on the EU probe, while BYD, Xpeng and SAIC did not respond to requests for comment. GROWING MARKET SHAREEU officials believe Chinese EVs are undercutting the prices of local models by about 20% in the European market, piling pressure on European automakers to produce lower-cost electric vehicles. It accounted for 40.25% of EV exports from China between January and April 2023, up from 36.5% in 2022.

Persons: Angelika Warmuth, Ursula von der Leyen, BYD, CATL, der Leyen, Li Qiang, Cui Dongshu, EVs, Donny Kwok, Brenda Goh, Ryan Woo, Anne Marie Roantree, Tom Hogue, Jamie Freed Organizations: BYD Company, REUTERS, China, EV, European Commission, EU . European, Analysts, HK, Geely, SAIC, EU, Chamber of Commerce, China Passenger Car Association, Center, Strategic, Internal Studies, Volvo, Thomson Locations: Munich, Germany, Europe, HONG KONG, SHANGHAI, Hong Kong, Beijing, Shanghai, Xpeng, Shenzhen, SZ, China, Moscow, Russian, Ukraine, New Delhi, Brussels, U.S

☆ Tesla, suppliers to invest $15 bln in Mexico factory - local governor
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsMEXICO CITY, Sept 11 (Reuters) - A state governor in Mexico said on Monday that Tesla (TSLA.O) and its suppliers would invest $15 billion over the next two years in a factory that is still under construction, an amount that is triple what Mexican officials previously announced. In March, Tesla CEO Elon Musk said his company would open a gigafactory in northern Nuevo Leon state, part of the electric carmaker's push to expand its global footprint. At the time, Musk did not detail Tesla's investment, but Mexican officials said the factory would involve a $5 billion investment. Speaking at an event, Nuevo Leon Governor Samuel Garcia said the facility will now involve thrice that amount. Neither Tesla's press office nor Nuevo Leon officials responded after hours to a request for comment on the governor's comments.

Persons: Angelika Warmuth, Tesla, Elon Musk, Musk, Samuel Garcia, Nuevo Leon, Carolina Pulice, Beth Soloman, David Alire Garcia, Miral Organizations: REUTERS, Tesla, Nuevo Leon, Nuevo, BMW, General Motors, Ford, Reuters, Thomson Locations: Munich, Germany, MEXICO, Mexico, Nuevo Leon

☆ Elon Musk's 700 mph hyperloop tech hasn't become reality. But companies aren't giving up
▼ + stars: | 2023-09-12 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The Hyperloop test track tube with its transport cabin is open for viewing before the opening begins. MUNICH — Hyperloop, a mega-fast transportation system dreamed up in 2013 by Tesla and SpaceX founder Elon Musk, was supposed to be a reality by now. There has been so much hype, with several firms years ago saying that we would have a mass-scale hyperloop system by now. By the end of the next decade, hyperloop technology will have longer tracks built through continents, Semino said. Hyperloop Transportation Technologies (HTT) and Elon Musk's Boring Company are also exploring the technology.

Persons: Elon Musk, I've, Gabriele Semino, Hyperloop, Semino, Elon Organizations: Technical University of Munich, Tesla, SpaceX, CNBC, IAA, Hyperloop Transportation Technologies, Elon Musk's Boring Locations: Europe, TUM, MUNICH, Munich

☆ CNBC Daily Open: High yields posed no threat to the tech rally
▼ + stars: | 2023-09-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Nasdaq Composite rallied, buoyed by tech stocks. More than luck to surpass StarbucksAsk any American to think of the most common coffee chain, and chances are they'd mention Starbucks. A combination of its franchise model, low pricing and self-operated stores helped a coffee chain founded in 2017 surpass an established brand.

Persons: Wall, JPMorgan Chase, Jamie Dimon, it'd, Dimon, Cristiano Amon, he's Organizations: CNBC, Nasdaq, Japan's Nikkei, Garden Holdings, JPMorgan, Qualcomm Qualcomm, Apple, UBS, Starbucks, Apple Apple Locations: Munich, Germany, Asia, Pacific, U.S, Ukraine, China

☆ Seat massages, smartphones and driverless features: Automakers turn to tech to take on Tesla
▼ + stars: | 2023-09-11 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

The presence of Amazon, Qualcomm, Samsung and other tech giants underscores how traditional automakers are looking to bolster the tech in their cars. Ramping up technology features is also essential to meet buyer expectations in China. Driverless features pushA big part of the focus of Tesla technology has surrounded its Autopilot ADAS. No car can operate autonomously — at least from a legal perspective — but automakers are ramping up the driverless features and capabilities. watch nowMore traditional automakers are looking to catch up in the area of driverless features.

Persons: Arjun Kharpal, You'd, Tesla, Mohit Sharma, That's, Xingji, Lucid Organizations: Amazon, IAA, Qualcomm, Samsung, CNBC, CCS Insight, Benz, Swedish EV, Polestar, BMW, Neue Locations: Munich, China, Swedish, U.S

☆ Nikola semi-truck catches fire in second incident in a week
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Fabian Bimmer Acquire Licensing RightsCompanies Nikola Corp FollowSept 8 (Reuters) - A Nikola (NKLA.O) electric semi-truck caught fire near the company's Phoenix headquarters in Arizona, it said on Friday, the second such incident this week involving the firm's vehicle. Earlier this week, another of its Tre battery-electric truck caught fire in Tempe, Arizona, which affected one battery pack. The company had suspected foul play when it started an investigation in June after trucks at its headquarters caught fire. However, last month Nikola cited a coolant leak inside a battery pack as the cause following the investigation. A total of 209 battery-powered electric trucks were in the marketplace between dealers and customers at the time of the recall.

Persons: Nikola, Fabian Bimmer, Akash Sriram, Sriraj Organizations: IAA Transportation, REUTERS, Nikola, Thomson Locations: Hanover, Germany, Arizona, Tempe , Arizona, Bengaluru

☆ Good news, BMW owners: You won't have to pay $18 to heat your seats after all
▼ + stars: | 2023-09-08 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

A BMW executive told Autocar magazine the company will be ending its $18-a-month heated seat subscription. That includes the roughly $18 monthly fee — or $180 annually — to activate heated seats, which come pre-installed in these cars. "We thought that we would provide an extra service to the customer by offering the chance to activate that later, but the user acceptance isn't that high," Nota told Autocar during the IAA Mobility conference in Munich. Despite scrapping the seat-warming charges, Nota told Autocar the company still plans to go ahead with charging for other features — like $20-a-month driving assistance software. Automakers Ford and General Motors set a target annual revenue of at least $20 billion from software services by 2030.

Persons: Pieter Nota, It's, Nota, Trevor Noah, General Motors Organizations: BMW, Autocar, Service, IAA Mobility, Daily, Ford, General Locations: Wall, Silicon, Munich

REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING/SHANGHAI, Sept 8 (Reuters) - China's passenger vehicle sales returned to growth in August year-on-year, as deeper discounts and tax breaks for environmentally friendly and electric vehicles boosted consumer sentiment even as economic growth remains weak. Buoyed by hefty discounts, Tesla's share of China's electric vehicle (EV) market almost doubled in August to 13.2 percent from 7.5 percent in July, according to Reuters calculations based on the CPCA data. Tesla (TSLA.O) sold 64,694 cars in China in August, the data showed, while deliveries of its China-made Model Y hit 65,316 last month, topping the CPCA passenger vehicle model sales. Sales of new energy vehicles (NEVs), which have underpinned China's auto sales growth, were up 34.5% in August, accounting for 36.9% of total car sales. However, the company introduced its restyled Model 3 a starting price 12% higher than the previous, base rear-wheel drive model.

Persons: Aly, General Cui Dongshu, Tesla, Warren Buffett, Xpeng, Qiaoyi Li, Zhang Yan, Brenda Goh, Kim Coghill, Miral Organizations: Auto, REUTERS, Rights, China Passenger Car Association, Reuters, Reuters Graphics, U.S, EV, Monday, IAA Mobility, HK, Thomson Locations: Auto Shanghai, Shanghai, China, Rights BEIJING, SHANGHAI, Europe, Munich

☆ From BMW to Porsche: Take a look at the cars on display at one of the world's biggest auto shows
▼ + stars: | 2023-09-08 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +6 min

BMW Vision Neue KlasseBMW revealed the BMW Vision Neue Klasse, a concept electric vehicle that will underpin its foray into battery-powered cars. Mercedes-Benz Vision One ElevenThe Mercedes-Benz Vision One Eleven on display at the IAA Mobility show in Munich, Germany. GTI ConceptThe all-electric Volkswagen ID GTI Concept car on display at the IAA Mobility 2023 show in Munich, Germany. Porsche Mission XThe Porsche Mission X on display at the IAA Mobility 2023 show in Munich, Germany. Lego Lamborghini Sián FKP 37A Lego version of the Lamborghini Sián FKP 37 on display at IAA Mobility 2023 in Munich, Germany.

Persons: Olaf Scholz, Ola Källenius, Mercedes, Sven Hoppe, Arjun Kharpal, Leapmotor, Zhu Jiangming, BYD, Warren Buffett, Kharpal, Lucid, Cyberster Organizations: Management, Mercedes, Benz AG, Getty, Mobility, BMW, Neue, CNBC, Benz, IAA, Leapmotor, Opel, CNBC Stellantis, Air, Volkswagen, IAA Mobility, Porsche, Carrera GT, Shanghai Auto, Lamborghini Locations: Munich, GERMANY, Germany, Xpeng, BYD, Hangzhou, Europe

☆ U.S. electric carmaker Lucid is exploring China entry; confirms mass market models ahead
▼ + stars: | 2023-09-07 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

In this article LCID Follow your favorite stocks CREATE FREE ACCOUNTThe Lucid Air Midnight Dream Edition. LucidMUNICH — Lucid is exploring selling its cars in China but has no timeline for when it will enter the world's largest electric car market, a top executive told CNBC. It's the world's largest car market. If you enter China on the wrong terms, you can make a lot of mistakes. "If you enter China on the wrong terms, you can make a lot of mistakes," he added.

Persons: Lucid, Zhu Jiang, Eric Bach, Bach, China's Organizations: CNBC, Air, IAA Locations: China, Munich, Germany, Arizona, U.S, BYD, Nio

☆ Tiny ‘bubble cars’ from the 1960s are making a comeback. Take a look at the latest electric versions
▼ + stars: | 2023-09-07 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

The Microlino electric vehicle on display at the IAA Mobility 2023 show in Munich, Germany. MUNICH — Tiny cars appear to be making a comeback. At the IAA motor show in Munich this week, there were a handful of small vehicles on display. They resembled the so-called microcars or "bubble cars" from several decades ago — like the Italian-designed Isetta, which was first produced in the mid-1950s. Another car on display at IAA was the Yoyo, a car from Italian-Chinese start-up XEV.

Persons: Smart, it's Organizations: IAA, Fiat Locations: Munich, Germany, MUNICH, Europe

☆ 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

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