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☆ China moves to strengthen innovation in smart driving
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 2 (Reuters) - China will back firms in the smart vehicle supply chain to form groups dedicated to spreading innovation, state media said on Monday, as it races to hammer out standards for assisted and autonomous driving functions by 2025. China will support firms in forming "innovation consortia", that enable them to learn from each other's strengths in order to achieve technological breakthroughs, the official Xinhua news agency said. Citing Xin Guobin, vice minister of industry and information technology, the agency added that China aims to speed its formulation and revision of key standards. Vehicles in this category can handle driving functions, but the driver must always be prepared to take over when road conditions change. China aims to master the core technologies of advanced autonomous driving and eventually put driverless vehicles on its roads in the effort to become the leading industry player worldwide.

Persons: Xin Guobin, Ryan Woo, Clarence Fernandez Organizations: Xinhua, Vehicles, HK, Baidu, Thomson Locations: BEIJING, China, Shenzhen, Wuhan, Chongqing, Beijing, United States

☆ Can China's economy reverse a sluggish 2023 in the last quarter? Here's what to watch
▼ + stars: | 2023-09-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

In 2020, Beijing tried to rein in real estate developers' high reliance on debt with new restrictions on financing. "The decline in the real estate sector was the result of the government's intentional measures to correct the bubbles in the market," Yao said. But he and other economists mostly don't expect real estate to return to significant growth in the future. Morgan StanleyThis week, worries about China's real estate sector persisted with highly indebted Evergrande running into more liquidity problems — along with reports Wednesday its chairman has been put under surveillance. This month, weekly data from Nomura indicate the real estate sales slump has moderated.

Persons: Stringer, Yao Yang, Yao, Dan Wang, Morgan Stanley, Clifford Lau, William Blair, China's, Robin Xing, there's, Bruce Pang, Pang doesn't Organizations: Afp, Getty, National School of Development, Peking University, Hang, China Center for Economic Research, Communist Party, Financial Work, Communist Party of, Nomura, CNBC Locations: Chongqing, China, BEIJING, Covid, Beijing, Shanghai, Hang Seng China, Communist Party of China, JLL

Two people who know Fu told CNN that they heard from common friends she had a child through surrogacy in the US, though they did not know who the father was. Fu stopped posting on her WeChat social media account in May after returning to China from the US in April, two sources close to Fu told CNN. Fu Xiaotian, 40, was the host of a flagship talk show on Hong Kong-based Chinese broadcaster Phoenix TV. Following Qin’s disappearance, Chinese social media users have scrutinized Fu’s posts on Weibo, a popular microblogging site, where she boasts more than a million followers. She last posted on Wechat, another Chinese social media app, on May 21, the two people who know Fu told CNN.

Persons: Hong Kong CNN — China’s, Qin Gang, Fu Xiaotian, Qin, Fu, Xi Jinping, ”, Fu –, –, Qin’s, “, ” Yun Sun, Sun, That’s, Xiaotian, Zikuan Chen, Fu reminisced, Er, ’ ” Fu Organizations: Hong Kong CNN, Financial Times, Phoenix, CNN, China’s Foreign, ” CNN, China’s, Information Office, Phoenix TV, Wall Street Journal, Communist Party, Stimson, World, Cambridge University, Star, Churchill College, Gulfstream G650, Fu, Federal Aviation Administration, Gulfstream, Anchorage International, Washington DC, Qin Locations: Hong Kong, United States, Beijing, China, Washington, London, Phoenix TV’s London, Fu, Weibo, California, Chongqing, Orange County , California, Italy, alma, Los Angeles, Anchorage, Alaska, Miami

☆ China says more harsh weather in store after tornado kills five
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

The latest incident in weeks of destructive and deadly weather spurred authorities to call for vigilance against strong winds in coastal areas near the Yellow Sea off Jiangsu. Tuesday's tornado was brief but fierce, with social media images showing overturned cars, downed power lines and flying debris, much of which littered the streets of Suqian, a city in the north of the province. [1/2]A view shows a tornado in Suqian, Jiangsu Province, China, released on September 19, 2023, in this screen grab obtained from social media video. Weather warnings also went out on Wednesday for the southwestern region of Chongqing, several areas in southwestern Guizhou, southern Hunan, eastern Anhui and central Hubei. Reporting by Bernard Orr and Shanghai newsroom; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Haikui, Bernard Orr, Clarence Fernandez Organizations: Reuters, REUTERS Acquire, Weibo, Thomson Locations: BEIJING, Jiangsu, Tuesday's, Suqian, Jiangsu Province, China, Chongqing, Guizhou, Hunan, Anhui, Hubei, Shanghai

☆ China Says More Harsh Weather in Store After Tornado Kills One
▼ + stars: | 2023-09-19 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - Chinese weather officials stepped up warnings against heavy rain and strong winds in several regions, state media said on Wednesday, a day after a violent tornado wreaked havoc in the eastern province of Jiangsu, killing one person. The latest incident in weeks of destructive and deadly weather spurred authorities to call for vigilance against strong winds in coastal areas near the Yellow Sea off Jiangsu. Tuesday's tornado was brief but fierce, with social media images showing overturned cars, downed power lines and flying debris, much of which littered the streets of Suqian, a city in the north of the province. "I was at the door and witnessed the wind, solar energy devices, and trees flying in the air," wrote one user of popular social media platform Weibo. Warnings also went out for the southwestern region of Chongqing, several areas in southwestern Guizhou, southern Hunan, eastern Anhui and central Hubei.

Persons: Haikui, Bernard Orr, Clarence Fernandez Organizations: Weibo Locations: BEIJING, Jiangsu, Tuesday's, Suqian, Chongqing, Guizhou, Hunan, Anhui, Hubei, Shanghai

☆ China's capital city is letting the public take fully driverless robotaxis — and has bigger rollout plans, startup Pony.ai says
▼ + stars: | 2023-09-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Vcg | Visual China Group | Getty ImagesBEIJING — China's capital city is taking swift steps to allow robotaxi businesses to grow. As of Tuesday, the suburban Beijing city district of Yizhuang is officially letting local robotaxi operators — primarily Baidu and startup Pony.ai — charge fares for fully autonomous taxis, with no human staff inside. "We have very high confidence ... maybe only in three years, our full driverless vehicles are going to be running over the whole Beijing city," he said in an interview with CNBC on Monday. Out of more than 200 robotaxis that Pony.ai operates in the region, only about ten are currently fully driverless, Zhang said. Beijing city did not immediately respond to a CNBC request for comment.

Persons: Ning Zhang, Beijing's, Zhang, Yin Yong, Pony.ai, Baidu, Alphabet's Waymo, Pony.ai's Zhang, —, Leswing, Lora Kolodny Organizations: Visual China, Getty, BEIJING, Baidu, CNBC, Daxing International, robotaxis, General Motors, California Department of Motor Vehicles, Beijing Daxing, Google Locations: Beijing, Yizhuang, Pony.ai, Yizhuang district, Daxing, U.S, San Francisco, California, China, Shenzhen, Wuhan, Chongqing, Guangzhou, Shanghai

☆ China’s retail sales surprise with faster growth, up 4.6% in August
▼ + stars: | 2023-09-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's retail sales and industrial production picked up pace in August with better-than-expected growth, according to National Bureau of Statistics data released Friday. Retail sales grew by 4.6% in August from a year ago, beating expectations for 3% growth forecast by a Reuters poll. The increase was also faster than the 2.5% year-on-year pace in July. Industrial production grew by 4.5% in August from a year ago, better than the 3.9% forecast and faster than the 3.7% increase reported for July. That missed expectations for a 3.3% increase and was slower than the 3.4% pace reported as of July.

Persons: Fu Linghui Organizations: National Bureau, Statistics Locations: Chongqing, China, BEIJING

☆ Alibaba CEO warns of being ‘displaced’ if the Chinese tech giant doesn’t keep up in AI
▼ + stars: | 2023-09-12 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Signage at the Alibaba Group Holding Ltd. booth at the Smart China Expo in Chongqing, China, on Monday, Sept. 4, 2023. Alibaba needs to be "user first" and "AI-driven," new CEO Eddie Wu told employees on Tuesday, as he laid out the strategic priorities for the Chinese tech giant. As the world progresses, Alibaba needs to evolve even faster!," Wu said in a letter to employees that was seen by CNBC. However, in a surprise move, Zhang this week quit as CEO of the cloud business with Wu taking over in the interim. It comes months after Alibaba split its company into six different business groups, the biggest shakeup in its history.

Persons: Eddie Wu, Wu, Jack Ma's, Daniel Zhang, Zhang, Alibaba Organizations: Alibaba, Holding, Smart, CNBC Locations: Chongqing, China

☆ China's auto workers bear the brunt of price war as fallout widens
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +9 min

Millions of auto workers and suppliers in China are feeling the heat as an electric vehicle price war forces carmakers to shave costs anywhere they can. State-run China Automotive News estimates there are over 100,000 auto suppliers in the country. Suppliers typically negotiate prices once a year, but many have been pressed to lower prices on a quarterly basis in 2023, two senior executives at auto suppliers said. And in June, a group of small suppliers wrote to state-owned Changan Automobile to push back against 10% price reductions. Three months later, he told Reuters that price cuts had been more aggressive in 2023 than in previous years.

Persons: Aly, Mike Chen, Chen, carmakers, Tesla, George Magnus, Elon Musk, Mike Chen's, Li Auto, Liu, Changan Automobile's, Chen Yudong, They've, Zhang Yan, Brenda Goh, Kripa Jayaram, Marius Zaharia, David Clarke Organizations: SAIC Volkswagen, REUTERS, Rights, Shanghai, SAIC, Volkswagen, VW, Oxford University's China, China Passenger Car Association, Tesla, GM, HK, Changan Automobile, Mitsubishi Motors, Toyota, Hyundai, China Automotive, Automobile, EV, Reuters, Thomson Locations: Shanghai, China, China's, Beijing, Shenzhen, Hefei, Chongqing, Chery's, Qingdao

☆ China's Chongqing to remove marriage requirement for maternity benefits
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

Acquire Licensing Rights Read moreHONG KONG, Aug 31 (Reuters) - Chongqing, a sprawling municipality in southwest China, announced this week that insured residents no longer need to provide marriage certificates to get maternity benefits, the most recent move to encourage women to have children. China's fertility rate is estimated to have dropped to a record low of 1.09 in 2022, state media reported. China's fertility rate is already one of the world's lowest alongside South Korea, Taiwan, Hong Kong and Singapore. Young Chinese women cite factors including high childcare costs, career hindrance, gender discrimination and not wanting to get married as key reasons for not having children. Low consumer confidence and growing concerns over the health of China's economy are also key factors cited by young Chinese for not wanting to get married and have children.

Persons: Farah Master, Jacqueline Wong Organizations: South, Singapore ., Thomson Locations: Xujiashan, Haitang, Liangshan Yi Autonomous Prefecture, Sichuan province, China, HONG KONG, Chongqing, China's, Guizhou, Shaanxi, Hunan, Jiangsu, South Korea, Taiwan, Hong Kong, Singapore, Singapore . Young, Beijing

☆ Asia markets set for mixed open ahead of China's factory activity data
▼ + stars: | 2023-08-31 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

CFOTO | Future Publishing | Getty ImagesAsia-Pacific markets are set for a mixed open as investors brace for China's August factory activity data. Economists polled are expecting the purchasing managers index to come in at 49.4, representing a softer rate of contraction compared with June's 49.3. Futures for Hong Kong's Hang Seng index stood at 18,544, pointing to a stronger open compared with the HSI's close of 18,482.86. Japan will release its retail sales data, as well as its preliminary industrial output figures for July on Thursday. However, futures for the Australian S&P/ASX 200 point to a lower open, at 7,263 compared with the last close of 7,297.7.

Organizations: Getty, China's, Nikkei Locations: South Korea, Chongqing, China, Asia, Pacific, Chicago, Osaka, Japan

☆ 5 Chinese brands that have crept into your life and are flipping the narrative on Chinese-made goods
▼ + stars: | 2023-08-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Some Chinese brands have upset previous market leaders in their fields. CFOTO/Future Publishing/Getty ImagesChinese brands are going global, and some have already crept into the mainstream. Some brands, such as Lenovo and Tencent, have even upset previous industry leaders and are now major players in their respective fields. Chinese companies that have made it globally, Tiruchelvam added, are generally viewed positively as international companies. From social-media platforms to PC makers, here are five Chinese companies that have made it big outside China.

Organizations: Publishing, Getty, Lenovo, Aletheia Locations: Chongqing, China

China generated 121 billion kilowatt-hours (kWh) from hydro in July 2023, down from 146 billion kWh in the same month a year earlier, and the lowest since 2015. China also boosted generation from wind farms (+16 billion kWh) and solar farms (+5 billion kWh) compared with July 2022. But without the extra generation from thermal (+44 billion kWh) it could not have offset the drop in hydro (-25 billion kWh) while meeting growth in load (+40 billion kWh). SOUTH CHINA DROUGHTFour-fifths of China’s total hydro generation comes from provinces along the Yangtze River system and further south. Facing continued restrictions on hydro generation, coal-fired generation, coal production and coal imports will have to rise even further.

Persons: Doksuri, John Kemp, Bernadette Baum Organizations: REUTERS, National Bureau of Statistics, East, Thomson, Reuters Locations: Qiaojia, Yunnan province, Ningnan, Sichuan province, China, Hebei, Beijing, Chartbook, CHINA, Sichuan, Yunnan, Hubei, Guizhou, Guangxi, Hunan, Fujian, Guangdong, Chongqing, Yibin

☆ 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

BEIJING, Aug 13 (Reuters) - The death toll from a mudslide last week in China's northwestern Shaanxi province has risen to four, state radio said on Sunday, as the country grapples with unusually high summer rainfall. TYPHOON WEAKENSMeanwhile, Typhoon Khanun weakened into a tropical depression when it made landfall in China's Liaoning province on Friday night. Overnight rainfall in Liaoning peaked at 52 millimetres (2 inches) per hour, with four reservoirs exceeding flood limits, CCTV said. A video posted by state media People's Daily showed thick swirling clouds hanging low above the ground, darkening the sky. Reporting by Andrew Hayley and Ethan Wang; Editing by Raju Gopalakrishnan and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Typhoon Khanun, Khanun, Doksuri, Andrew Hayley, Ethan Wang, Raju Gopalakrishnan, Jamie Freed Organizations: China Central Television, Xinhua, Liaoning province's Anshan, Flood, Drought, Ministry of Emergency Management, CCTV, Thomson Locations: BEIJING, China's, Shaanxi, Xian, China's Liaoning, Liaoning, Tianjin, Chongqing, China, Xinjiang

☆ 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

In the waterlogged provincial capital Harbin, two vehicles plunged into a sinkhole that appeared on an expressway near a swollen river, local media reported. Paddy fields have also been inundated, and villagers in low-lying areas told to evacuate, local media reported. The storms and floods also triggered power cuts in nearby Shangzhi city, where supermarkets were running low on provisions, according to media reports. "I only managed to get a few bottles of mineral water and two boxes of instant noodles," a Shangzhi resident told local media after rushing to the supermarket after the storm alerts. "Some production and power equipments were damaged, and production had been suspended," the company said in an exchange filing on Friday.

Persons: Typhoon Doksuri, Tingshu Wang, Doksuri, Jinrui, Liz Lee, Ella Cao, Samuel Shen, Ryan Woo, Gerry Doyle, Miral Organizations: REUTERS, Aerospace, Holdings Group, Mineral Development, Thomson Locations: Mentougou district, Beijing, China, Tingshu Wang BEIJING, Northeastern Heilongjiang, Heilongjiang, Daqing, Harbin, Shangzhi, Jilin, Shulan, Zhuozhou, Hebei province, Hebei, Qinghai, Chongqing, Shanghai

The new market-based pricing system will also encourage distributors like ENN and China Gas that are expanding into global gas trading to look at importing LNG. "The policy will help the whole (gas) distribution sector and restore utilities' profitability," said Tan Yuwei, general manager of capital management at China Gas Holdings. Shares for listed gas utility companies briefly reversed this year's trend downwards after the policy was announced, but they remain under pressure from lacklustre industrial demand and China's struggling economy. China in recent years has liberalized natural gas prices by allowing distributors to pass costs on to industrial and commercial customers, although Beijing maintained tight control over household prices to avoid a consumer backlash. "This policy reform will result in more reasonable downstream gas prices in China, which will encourage city gas utilities to increase purchases from upstream importers," said Yi Cui, an analyst with consultancy Rystad Energy, referring to Chinese national oil companies.

Persons: COVID, Tan Yuwei, Tan, Yi Cui, Chen Aizhu, Emily Chow, Andrew Hayley, Tom Hogue Organizations: ENN Energy Holdings, HK, China Gas Holdings, China Resources Gas, Shanghai Gas, Chongqing Gas, Changchun Gas, China Gas, National Development, Reform Commission, China Gas Association, Rystad Energy, Beijing, Thomson Locations: SINGAPORE, BEIJING, China, Changchun, Qingdao, Nanjing, Shijiangzhuang, Lanzhou, Hubei, Guizhou, Shaanxi, Beijing, Hebei, Singapore

☆ 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

☆ Soaring temperatures to record rainfall: flooding ravages East Asia as climate crisis takes hold
▼ + stars: | 2023-07-17 | by ( Heather Chen | ) edition.cnn.com time to read: +8 min

Record temperatures also led to a rise in heat-related illnesses, particularly among vulnerable communities such as the elderly. In response to the loss of life, South Korean President Yoon Suk Yeol called for an overhaul of the country’s approach to extreme weather. “This kind of extreme weather event will become commonplace — we must accept climate change is happening, and deal with it,” Yoon said Monday. A vulnerable regionScientists have warned the frequency and intensity of extreme weather events will continue to increase as the human-caused climate crisis accelerates. “Floods, droughts and other devastating climate events are “all showing us very clearly what will the future be,” she added.

Persons: Yoon Suk, ” Yoon, ”, John Kerry, Reuters Heatwaves, Shehbaz Sharif, Manish Swarup, —, “, Sunita Narain Organizations: Hong Kong CNN, CNN, Japan’s Meteorological Agency, Reuters, World Meteorological Organization, ”, United Nations General Assembly, Disaster, World Bank, Centre for Science Locations: Hong Kong, Japan, China, South Korea, India, South Korean, Cheongju, Philippines, Cambodia, Manila, Phnom Penh, Delhi, Beijing, Washington, Chongqing, Kiryu, Gunma Prefecture, Kyoto, Tokyo, Hatoyama, Saitama Prefecture, Asia, Pakistan, New Delhi, Himachal Pradesh, Assam, Uttarakhand, Punjab, Haryana, Uttar Pradesh, “

Hong Kong CNN —Seven people have died and thousands have evacuated their homes in South Korea due to heavy rain. Three others were missing, the country’s Yonhap News Agency reported Saturday, citing the Central Disaster and Safety Countermeasure Headquarters. Across South Korea, more than 1,000 people were forced to evacuate their homes and seek temporary shelter on Saturday, Yonhap reported. Prime Minister Han Duck-soo ordered authorities to evacuate those in landslide-prone regions and to carry out rescue efforts, according to the South Korean news agency. Last year, the South Korean capital Seoul logged record downpours that inundated homes, roads and subways, killing at least nine people.

Persons: Yonhap, Han Duck Organizations: Hong Kong CNN, Yonhap News Agency, Central Disaster, Safety, South Korean Locations: Hong Kong, South Korea, Nonsan, South Chungcheong Province, Seoul, East Asia, Japan, Fukuoka, Oita prefectures, Kyushu, China, Chongqing

CNN —Rescue workers pulled seven bodies from vehicles trapped in a flooded underpass in central South Korea, authorities said Sunday, after days of torrential rain caused landslides and flash floods that have killed at least 33 people. The rescue operation was ongoing Sunday morning, with 10 people reported missing while authorities worked to identify the bodies, according to South Korean Ministry of the Interior and Safety. The search and rescue operation at the underpass continued on Sunday, in Cheongju, South Korea, on July 16. Dozens of people have died in South Korea in recent days as torrential monsoon rains triggered flooding and landslides across the country. The latest round of heavy rains in South Korea come just days after devastating floods wreaked havoc in neighboring Japan, killing at least six people and injuring 19.

Persons: Seo Jeong, il, Seo, Kim Hong, ”, Han Duck Organizations: CNN — Rescue, South Korean Ministry of, Safety, Rescue, Ministry of, Yonhap News Agency, Korean, South Korean Locations: South Korea, North Chungcheong, Cheongju, East Asia, Japan, China, 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

☆ Bosch ups investment in hydrogen, begins fuel-cell power module production
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

The planned investment was one billion euros more than earmarked in its previous investment plan for 2021-2024, the statement added. Bosch expects one in five new trucks weighing six metric tons or more would feature fuel-cell powertrains by 2030, it said. Bosch said production of its fuel cell power module - a fuel cell system generating electricity in vehicles from hydrogen, primarily used in commercial long-distance applications - has begun in its Stuttgart-Feuerbach plant in Germany and in Chongqing, China. Daimler Truck (DTGGe.DE) plans to bring a hydrogen truck to market in the second half of the decade, forming a joint venture with Volvo (VOLVb.ST) to develop the zero-emissions technology. Automaker Stellantis said this year it would begin deliveries in Europe of its first medium-sized vans powered by hydrogen fuel cells by the end of 2021.

Persons: Bosch, Stefan Hartung, Feuerbach, Stellantis, Victoria Waldersee, Ilona Wissenbach, Emelia Sithole Organizations: Bosch, Nikola Corporation, Daimler, Volvo, Volkswagen, Thomson Locations: BERLIN, Stuttgart, Germany, Chongqing, China, American, Europe

☆ 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

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