China’s overall vehicle sales for April plunged almost 48% from a year earlier as COVID-19 lockdowns hit factories and showrooms, but sales of electric vehicles surged and Chinese brands took share from global rivals, reports Nikkei Asia. The monthly sales volume was the lowest for the month in a decade, underscoring the economic toll of […]
Category: Autos
The Warren Buffett-backed Chinese carmaker, BYD, is facing a probe at one of its production plants that residents claim has been the cause of nosebleeds in hundreds of children, reports Caixin. Officials in Changsha, the capital of Central China’s Hunan province, sent a team to BYD’s factory to investigate gas emissions after receiving complaints from […]
The turbulent initial public offering of Chinese ride-hailing giant Didi Chuxing is now being investigated by the US Securities and Exchange Commission, piling more regulatory pressure on the company after Beijing launched a national security probe into the group last year, reports the Financial Times. Chinese authorities opened an investigation into Didi two days after […]
Full Truck Alliance has put its potential $1 billion listing on the Hong Kong stock exchange on hold due to an ongoing cybersecurity investigation, reports Reuters. China’s ‘Uber for trucks,’ backed by investors including SoftBank’s Vision Fund and Tencent and known as Manbang in China, has been planning a dual primary listing in Hong Kong […]
Regulators in China have given the go-ahead for internet giant Baidu and Toyota-backed Pony.ai to operate more robotaxis in Beijing. Although technically driverless, the cars must have a safety supervisor in them while operating, but they no longer need to sit behind the wheel, reports the Financial Times. The 14 cars will be allowed to […]