The world’s biggest electric vehicle supplier, Contemporary Amperex Technology (CATL), announced it has the go-ahead to start production at a factory in Germany that will be the firm’s first outside of China, reports Nikkei Asia. Local authorities for the German state of Thuringia, the home of the new factory, granted CATL permission on Monday to […]
Category: Autos
The Warren Buffet-backed, Shenzhen-based car manufacturer BYD has finished production of fossil-fueled vehicles. The automaker produced the final non-electric units in March and is now shifting gears to go all-out on electric vehicles, reports Caixin. In a tweet, the company said the decision makes it “the first automotive manufacturer in the world to stop the […]
One of China’s fastest-growing electric vehicle makers, Xpeng Motors, posted record quarterly revenues on Monday thanks to skyrocketing demand for its cars, outstripping market expectations, reports the South China Morning Post. However, the company’s delivery volume in this year’s first three months could fall below analysts’ estimates as COVID-19 outbreaks in major cities like Shanghai […]
China’s biggest new-energy vehicle (NEV) manufacturer by sales, BYD, has entered into a partnership with international energy company Shell to develop its electric vehicle (EV) charging network through China and Europe, reports the South China Morning Post. The Warren Buffett-backed carmaker and the oil and gas major plan to form a joint venture to develop […]
Chinese carmaker Geely Auto Group is expecting further pressure on its profitability and sales this year after experiencing a 12% fall in 2021 profit, citing global chip shortages and rising raw material prices, reports Reuters. The world’s highest-profile Chinese automaker, thanks to its investments in Volvo Cars and Daimler AG, reported a 2021 profit of RMB 4.85 […]