Renault Group unveils the new strategic futuREady plan in France on March 10. KENZO TRIBOUILLARD/AFP Renault Group has unveiled a new strategic plan to keep pace with rapidly advancing Chinese vehicle manufacturers that are expanding their presence in global markets. “In an increasingly volatile environment, Renault Group’s ambition is to compete with Chinese vehicle manufacturers…
The Geely Farizon Homtruck offers diverse power options, including pure electric, range-extended, methanol and hydrogen drives after entering the market in 2024. CHINA DAILY Chinese manufacturers are accelerating expansion into Europe’s electric heavy-duty truck market, supported by competitive pricing and advanced electrification technologies, as the continent’s low-emission freight transition gathers pace. More than six Chinese…
Chinese electric vehicle maker Nio is eyeing full-year profitability in 2026 after delivering on its repeated promise of getting out of the red in the fourth quarter last year. The 11-year-old company posted its first-ever quarterly profit last week: an adjusted operating profit of 1.25 billion yuan ($178.9 million) and a net profit of 282.7…
SHENZHEN — Chinese automaker BYD has officially joined the International Automotive Task Force, an international standardization organization in the automotive industry, the company announced on Wednesday. The IATF is a group of automotive manufacturers and their respective national automotive industry associations dedicated to formulating fundamental quality system requirements for the automobile supply chain. Its members…
Porsche CEO Michael Leiters and CFO Jochen Breckner pose for a photo in front of a 911 Turbo S. [Photo provided to chinadaily.com.cn] German sports carmaker Porsche has reaffirmed the importance of China despite falling sales in the world’s largest vehicle market. “China is and will remain an important strategic market for us, despite the…
Zeron’s heavy-duty trucks, whose cumulative deliveries exceeded 1,600 units by the end of 2025, are seen in the picture. [Photo provided to chinadaily.com.cn] Chinese intelligent heavy-duty truck startup Zeron announced on Thursday a 1.2 billion yuan ($167 million) funding round, underscoring growing investor interest in the emerging market for electric and autonomous heavy-duty trucks. The…
A Volkswagen UNYX 06 version on display at Auto Shanghai 2025, on April 25. [Photo/VCG] Volkswagen AG reported Tuesday that its operating profit in 2025 was halved from the previous year, citing US tariffs, currency effects, and a strategic shift at its luxury subsidiary Porsche. The group’s operating profit fell to 8.9 billion euros ($10.34 billion), down…
Zhang Xiong, president of Hyptec and Aion business unit of GAC Group, introduces the company’s new generation sedan Hyptec A800 during the launching ceremony in Guangzhou, the capital of Guangdong province, on Wednesday. [Photo provided to chinadaily.com.cn] GAC Group, a major automobile manufacturer based in Guangzhou, the capital of Guangdong province, has launched its new-generation…
Customers inspect a Honda sedan in a 4S store in Wuzhou, Guangxi Zhuang autonomous region, on Feb 24. HE HUAWEN/FOR CHINA DAILY Car sales declined in February as the record-long Spring Festival holiday reduced the number of working days. However, with pent-up consumer demand and new car launches in March, the car market is expected…
Canada began issuing import permits on March 1 for a limited number of electric vehicles imported from China at the standard 6.1 percent tariff rate, reopening market access after scrapping the 100 percent surtax imposed in 2024. According to notices issued by the Canadian government, up to 49,000 electric vehicles imported from China will be…