BYD reported another stellar quarter of earnings on the back of booming electric-vehicle sales that has propelled the company past Volkswagen AG to become China’s top-selling car brand, reports Bloomberg. Net income in the three months through March surged 411% from a year earlier to RMB 4.13 billion ($597 million), the Shenzhen-based automaker said in […]
Category: Autos
Toyota’s new chief executive has warned of “a sense of crisis” surrounding its business in China, pledging to boost local supply chains for electric vehicles as technological and geopolitical challenges intensify, reports the Financial Times. In a group interview on Friday, Koji Sato, who took the helm of Toyota earlier this month, pledged “bold” efforts […]
China is likely to overtake Japan as the world’s top car exporter this year, with industry executives predicting shipments of up to 4.5 million units, on the back of the growing manufacturing and technological heft of the nation’s electric-vehicle makers, reports the South China Morning Post. At the Shanghai Auto Show that started on Tuesday, […]
Volkswagen will spend €1 billion on setting up a new innovation centre in China, as the German company seeks to better appeal to the tastes of local consumers in the world’s largest car market where its market share is in decline, reports the Financial Times. The German carmaker said on Tuesday it would start a company, […]
Tesla will not occupy a booth at China’s largest annual autoshow to be held next week in Shanghai, according to plans published by the event’s organisers, reports Reuters. The financial hub is set to host Auto Shanghai between April 18-27. It is Asia’s largest auto show where brands from BYD to Volkswagen are expected to […]