Rental cars at an automobile rental depot of Europcar Mobility Group in Hamburg, Germany, in 2021. STEFANIE LOOS/GETTY IMAGES Low residual values for electric vehicles have pushed European leasing firms to raise prices and some are threatening to quit the business altogether if they are forced to go electric too fast, according to a report. Different…
Export-bound battery-powered electric vehicles await shipment at Yantai Port, Shandong province. TANG KE/FOR CHINA DAILY Chinese makers of battery-powered electric vehicles are “gravely concerned” over any European Commission move to levy long-term countervailing duties on imports of BEVs from China, as they are seriously considering Europe as a major investment destination, said the China Chamber of…
BYD showcases three models at an experiential event held in Lahore, Pakistan, on Aug 17, 2024. [Photo provided to chinadaily.com.cn] Chinese new energy vehicle maker BYD is to launch three models soon in Pakistan, as it steps up efforts to explore overseas markets. The Sealion 6, Seal, and ATTO 3 were showcased at an experiential…
The Geely logo is seen on a rim at a car dealership in Shanghai, on Aug 17, 2021. [Photo/Agencies] Geely Automobile Holdings saw its operating revenue hit a record 107.3 billion yuan ($15.05 billion) in the first half this year, soaring 46.6 percent year-on-year, said the Hong Kong-listed carmaker on Wednesday. The Chinese conglomerate delivered…
A SAIC model is driven into a cargo ship headed to Europe. [Photo provided to chinadaily.com.cn] BEIJING – The China Association of Automobile Manufacturers (CAAM) on Wednesday expressed strong dissatisfaction and firm opposition to the European Commission’s plan to slap hefty import duties on Chinese electric vehicles (EVs). Last month, the commission imposed provisional additional…
Chinese automaker Chang’an and Chinese tech giant Huawei sign a comprehensive strategic cooperation agreement on Aug 20 in Chongqing. According to the agreement, Avatr, a Chang’an-affiliated NEV company, will acquire a 10 percent stake in Huawei’s smart auto business Yinwang for 11.5 billion yuan ($1.6 billion). [Photo provided to chinadaily.com.cn] Chinese automaker Chang’an and tech…
The European Union’s plan to impose definitive countervailing duties on imports of electric vehicles from China is likely to weaken Chinese investors’ confidence in Europe and hinder the growth of the global green industry, said market watchers and industry leaders on Wednesday. The European Commission, the EU’s executive arm, said on Tuesday that it plans…
A poster for an MG-4 EV, a brand of Chinese state-owned carmaker SAIC, is displayed at a car showroom in Santander, Spain, June 13, 2024. [REUTERS/Vincent West] BEIJING – SAIC Motor, a major Chinese carmaker, said it will take further legal action to defend its rights and interests if necessary as the European Commission will…
Charging piles seen on a street in Changzhou, Jiangsu province. WANG QIMING/FOR CHINA DAILY Electric vehicles can potentially double up as super giant “mobile power banks” to support electricity supply and ensure grid stability during peak power consumption periods, as recent trials across Jiangsu province have shown, experts said. Jiangsu has launched China’s first large-scale vehicle-to-grid…
China-made new energy vehicles await shipment to Europe in Xiamen, Fujian province. JIANG KEHONG/XINHUA The Ministry of Commerce held a meeting to gather opinions and suggestions from industry professionals and experts on raising import tariffs on large-displacement fuel vehicles, said the ministry in a recent online notice. The meeting, presided over by the ministry’s head…