Spotlight Automotive, BMW’s 50-50 electric vehicle (EV) venture with mainland Chinese partner Great Wall Motor, is designing new models that it hopes to sell globally, reports the South China Morning Post. Cars including models under BMW-owned brand Mini will be sold in markets such as Europe and Southeast Asia after Spotlight starts assembling them in […]
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China drove a global surge in new coal-fired power plants last year, building and approving capacity at a rate not seen in nine years despite the country’s promise to “strictly control” its use of the most damaging fossil fuel, according to a new report, reports the South China Morning Post. China accounted for two-thirds of […]
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China consumer prices edged higher in March
China’s consumer prices edged higher in March against a year earlier, missing analysts’ forecasts and underlining the challenges for the world’s second-largest economy as it tries to boost domestic demand, reports the Financial Times. China’s leader Xi Jinping is trying to move the economy away from its debt-stricken real estate sector towards high-end manufacturing in […]
Volkswagen announced on Thursday plans to invest 2.5 billion euros ($2.68 billion) in China to expand its production and innovation hub in the city of Hefei in Anhui Province, reports Reuters. Preparations are also being made for the production of the two Volkswagen brand models being developed together with Chinese partner XPENG to begin in […]
Goldman Sachs Group Inc. and Morgan Stanley raised their outlook for China’s economic growth this year as factory activity and exports accelerate more quickly than expected, reports Caixin. China’s economy probably expanded at a 7.5% annualized pace in the first quarter from the previous three months, Goldman economists led by Hui Shan said in a […]