Author: Jackson Han

Several Chinese automakers are exploring plans to establish manufacturing and assembly facilities in Europe, aiming to challenge European carmakers by offering more affordable vehicles. This push comes as demand slows in China, the world’s largest auto market, and European producers fear being priced out by lower-cost imports of Chinese-made electric vehicles (EVs). The European Union has imposed tariffs on Chinese-made EVs, claiming that they benefit from substantial state subsidies. These tariffs are prompting Chinese carmakers to consider setting up local factories to mitigate the impact of higher costs on their European sales. “We need to localize to remain competitive,” said…

The European Union’s ongoing negotiations with China on setting minimum import prices for electric vehicles (EVs) face significant hurdles, according to a senior EU official. The talks aim to avert the imposition of tariffs on China-built EVs following the EU’s anti-subsidy investigation, which is due to conclude at the end of October. “I won’t exclude it, but it seems very, very difficult to reach an agreement by the end of October due to the complexity of the issues,” the official stated on Monday. Cars, being multifaceted products with varying sales channels, complicate discussions compared to previous cases involving homogenous commodities.…

Tesla’s Shanghai factory has achieved a significant milestone, rolling out its 3 millionth vehicle today, less than five years after the plant began operations. The announcement was made via Tesla’s official Weibo account, highlighting the rapid production growth at its largest factory worldwide. The facility produced its first 1 million vehicles in just 32 months, while the subsequent million vehicles were completed in a remarkably swift 13 months, indicating a doubling in growth rate. Tesla noted that Giga Shanghai is the company’s most efficient manufacturing site, with an average vehicle assembly time of over 30 seconds per unit. In addition…

Denza, the premium new energy vehicle (NEV) brand under BYD (HKG: 1211, OTCMKTS: BYDDY), has made a significant entry into the Singapore auto market, enhancing its global presence. At an event held yesterday, Denza introduced the right-hand drive version of its D9 multi-purpose vehicle (MPV), offering two variants with starting prices set at S$296,888 ($227,356) and S$341,888, respectively. The D9 marks the first model released under the refreshed Denza brand, which went on sale in China in August 2022, with deliveries commencing in October of the same year. In March 2024, Denza launched the latest iteration of the D9 MPV…

Polestar, the Sino-Swedish electric vehicle startup, is facing increasing challenges as its Polestar 3 and 4 models, along with a new active sales strategy, failed to significantly boost sales in the third quarter of 2024. The company delivered approximately 11,900 vehicles in Q3, marking the fourth consecutive quarter of year-on-year declines. Total deliveries for the first nine months of 2024 reached just over 32,000 units, down from nearly 42,000 in the same period last year. Polestar acknowledged that while some markets have shown positive results under the new sales model, sales growth overall has been slower than expected. “The first…

Oilstainlab, a California-based sports car manufacturer, has revealed its first vehicle, the HF-11, a high-performance supercar that will be available in both combustion and electric versions. Priced at $2.35 million for the battery-electric model, the car’s production will be limited to 25 units, with deliveries expected in 2026. Founded in 2019 by brothers Nikita and Iliya Bridan, Oilstainlab is based in Signal Hill, California. The HF-11 is derived from the company’s earlier Half-11 concept, drawing design inspiration from 1960s Le Mans racing cars. The vehicle, which measures 4.34 meters in length and weighs just 907 kg due to its carbon…

SK on has announced the successful development of an anode for sulfide-based all-solid-state batteries capable of operating at room temperature. This achievement, announced on October 9, results from a collaboration with Professor Kim Dong-won’s research team at Hanyang University, with the findings published in the respected journal “ACS Applied Materials & Interfaces.” Traditionally, sulfide-based lithium metal batteries require operation at elevated temperatures to facilitate uniform lithium movement. Maintaining these high temperatures necessitates additional temperature control systems, which can increase production costs and reduce energy density. Furthermore, temperatures exceeding 65 degrees Celsius may lead to material degradation and a shortened battery…

China’s new energy vehicle (NEV) sales experienced significant growth last month as the market entered its peak season. The China Passenger Car Association (CPCA) reported that wholesale sales of passenger NEVs in September are expected to reach 1.228 million units, marking a 48 percent increase year-on-year and a 17 percent rise from August. In August, manufacturers with wholesale sales exceeding 10,000 passenger NEVs accounted for 90.8 percent of total NEV wholesale sales, according to the CPCA. The estimated sales for these manufacturers in September are projected at approximately 1.11 million units. Based on the sales structure from the previous month,…

Hyundai Canada has officially appointed Lithion as its primary partner for the collection and recycling of electric vehicle batteries and modules. This multi-year agreement builds on a previous collaboration initiated in 2021, which focused on validating Lithion’s innovative extraction technology that successfully recovers 98 percent of the minerals found in batteries. Under this strategic partnership, Lithion will play a crucial role in supporting Hyundai’s corporate vision by collaborating with over 250 Hyundai and Genesis dealers and distributors across Canada. These dealerships can now reach out to the Lithion team when they have vehicles with batteries that have reached the end…

Baidu is planning to expand its Apollo Go robotaxi service outside of China, according to a report from Nikkei Asia. The Chinese tech company is in talks with foreign automakers, ride-sharing platforms, and tech firms to launch its autonomous taxi service abroad through local partnerships, sources familiar with the matter said. While the timing and location of these operations remain undecided, the report suggests it is unlikely that Chinese robotaxi services will enter the U.S. market, given recent restrictions. The U.S. Department of Commerce announced in September plans to ban Chinese self-driving car software and hardware, with a software ban…

As of August this year, the number of electric vehicles (EVs) registered worldwide has increased by approximately 20% compared to the same period last year, nearing the 10 million mark. Analysts indicate that while demand for EVs is slowing in regions such as Europe and the United States, China’s remarkable growth rate is significantly driving global expansion. According to a report by energy market research firm SNE Research on October 8, the cumulative number of EV registrations in China reached 6.258 million units by August, marking a 31.5% increase from the previous year when registrations stood at 4.76 million. Notably,…

Oliver Blume, the CEO of Volkswagen, has voiced his opinion that the European Union should modify its planned tariffs on electric vehicles (EVs) manufactured in China, advocating for a system that rewards investments made within Europe. In an interview with Bild am Sonntag, Blume stated, “Instead of punitive tariffs, this should be about mutually giving credit for investments. Those who invest, create jobs, and collaborate with local companies should benefit when it comes to tariffs.” The EU has confirmed its intent to implement tariffs on Chinese-made EVs, which could soar as high as 45%. This decision, which is set to…

Tesla is preparing to raise $783 million through a debt sale backed by its automotive leases, according to a report from Bloomberg News on Thursday. The electric vehicle manufacturer is tapping into the growing asset-backed securities (ABS) market as interest in such deals has surged within the auto industry. The transaction is being managed by Societe Generale and is expected to be priced next week. This would mark Tesla’s second ABS deal of the year, following a $750 million debt offering in March that carried a 5.53% coupon on its top tranche. According to the Bloomberg report, Tesla is currently…

A group of U.S. lawmakers has called on Mexico’s newly inaugurated President, Claudia Sheinbaum, to address potential national security risks posed by Chinese-made connected vehicles produced in Mexico. In a letter led by Michigan Representative Elissa Slotkin and Ohio Senator Sherrod Brown, the lawmakers urged Sheinbaum to create a national review system for connected electric vehicle (EV) production and to send a delegation to the U.S. by early 2025 to further discuss the issue. “We believe that this body of data, under the control of the Chinese Communist Party, is a national security threat,” the letter stated, warning that data…

Chinese electric vehicle manufacturer Nio posted strong vehicle deliveries in September, continuing its upward momentum. The company delivered 21,181 units, making it the second-highest monthly total in its history, just behind June’s record of 21,209. This marks the fifth consecutive month where Nio’s group-wide deliveries exceeded 20,000 units. The majority of these came from the main Nio brand, with 20,349 vehicles delivered, while its new sub-brand Onvo contributed 832 units. Compared to September last year, the company’s deliveries rose by 35.42% and increased by 4.98% from August. For the third quarter, Nio achieved record-breaking deliveries of 61,855 vehicles, within its…

Tesla’s Megafactory in Shanghai has reached 60% completion just four months into construction, positioning the facility to begin production of the Megapack, Tesla’s utility-scale battery energy storage product, in early 2025. Situated in the Lingang New Area of Shanghai, the Megafactory is strategically located near Tesla’s existing Gigafactory in the region. This will mark Tesla’s first Megafactory outside North America, with its other facility located in Lathrop, California. According to Tesla’s latest update, production of Megapacks at the Shanghai facility is anticipated to commence in the first quarter of 2025. Once fully operational, the Megafactory will have an annual production…

Leapmotor, a Chinese electric vehicle manufacturer, delivered 33,767 vehicles in September, marking its second consecutive month with more than 30,000 deliveries and its fourth straight month of record-setting figures. This represents a significant 113.72% increase compared to 15,800 deliveries in September 2023, and an 11.42% rise from August’s 30,305 units. In the third quarter of 2024, Leapmotor delivered 53,286 vehicles, making it the company’s second-highest quarterly result, following its record of 55,328 vehicles in the fourth quarter of 2022. Deliveries in the first nine months of the year totaled 172,861, reflecting a 97.6% increase compared to the same period in…

Zeekr reported impressive delivery figures for September, reaching 21,333 vehicles and surpassing its previous record of 20,106 vehicles set in June. This marks the second consecutive month in which Zeekr has delivered over 20,000 vehicles. The latest figures reflect a significant year-on-year increase of 76.99 percent and an 18.42 percent rise compared to August. In total, Zeekr delivered 55,003 vehicles in the third quarter, a 51.13 percent increase year-on-year and a slight 0.35 percent increase from the previous quarter. Although the company had not provided guidance for quarterly deliveries previously, it has set an ambitious target of 230,000 vehicles for…

BYD has introduced the BYD Shark hybrid pickup truck in Panama, marking its first hybrid vehicle in the Latin American market. This launch comes amid a significant rise in the pickup truck segment within the country, according to Eduardo López de Victoria, general manager of BYD Central America and the Caribbean. “The pickup truck market has shown considerable growth in recent years,” said López de Victoria in a recent announcement. He emphasized that pickup models cater to both business and personal needs, highlighting that the BYD Shark is designed to meet the demand for an innovative mobility experience. The Shark…

BYD announced a recall of nearly 100,000 electric vehicles (EVs) due to potential fire hazards. The company will initiate the recall starting from September 30, 2024, involving 96,714 Dolphin and Yuan Plus models sold in China, according to a statement posted on the website of China’s State Administration for Market Regulation (SAMR) today. This move is one of the rare instances where BYD has issued a large-scale recall, highlighting its commitment to ensuring the safety and reliability of its vehicles. The recall involves two different BYD operating entities and covers two batches of vehicles. The first group of 87,762 Dolphin…