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Home >> Automaker
Chinese tech giant Tencent takes 5% stake in Tesla
Reuters | 2017/3/28

Tesla Inc. said that Chinese tech giant Tencent Holdings has invested $1.78 billion in the electric carmaker, a 5 percent stake. Tencent, best known for its WeChat mobile app, has been investing in a number of sectors, including gaming, entertainment, cloud computing and online financing.

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  Hyundai suspends output at China plant amid diplomatic spat
Reuters | 2017/3/28

SEOUL  -- Hyundai Motor Co. suspended production at one of its Chinese assembly plants for a week, fueling concern that a diplomatic standoff between South Korea and China may be hurting sales in the company's top market. South Korean companies, from cosmetics firms to retailers, say they are being targeted in China because of Beijing's objections to a planned deployment of the U.S. Terminal High Altitude Area Defense system in South Korea. 
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  Great Wall profits jump 31% in 2016 on SUV surge
Automotive News China | 2017/3/28

Great Wall Motor Co.'s profits jumped 31 percent to 10.6 billion yuan ($1.5 billion) last year on strong demand for SUVs.  The company's overall deliveries jumped 26 percent to nearly 1.1 million vehicles in 2016. Of that total, 85 percent were crossovers and SUVs. 
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  BMW sees China sales rising 20% in 2017
Reuters | 2017/3/28

HONG KONG -- Sales at BMW AG's China joint venture are expected to rise at least 20 percent year on year in 2017, the premium automaker's local joint venture partner said Friday.  The full-year estimate is based on a strong sales increase in the first two months of 2017, said Wu Xiaoan, Chairman of Brilliance China Automotive Holdings, during a press conference in Hong Kong.
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  Geely subsidiary to build electric commercial vans in U.K.
Bloomberg | 2017/3/28

London Taxi Co. says it will invest an additional 25 million pounds (215 million yuan) in its new assembly plant near Coventry, England, to produce electric-powered vans.  London Taxi, which is owned by Geely Automobile Holdings, will promote its electric vans as a clean alternative to diesel-powered commercial vehicles -- some of the worst polluters in the United Kingdom. 
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  BYD to build 74 million yuan electric bus plant in France
Automotive News China | 2017/3/28

BYD Co., China's largest electric vehicle maker, plans to invest 10 million euros (74 million yuan) to build an electric bus assembly plant in France.  The factory will be constructed in Allonne, a town in North France's Hauts-de-France region. It will start production in the first half of 2018 and it will produce up to 200 buses annually, BYD said. 
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  Baidu's self-driving car unit chief will resign, report says
Automotive News China | 2017/3/28

Wang Jing, chief of the self-driving car unit at leading Chinese search engine Baidu Inc., will resign this week, according to the Beijing business magazine CaixinWang, speaking Monday at an investment meeting organized by Aplus, a Beijing private equity investment fund, disclosed that he will leave Baidu in five days, reported Caixin
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  Geely profits more than double as Volvo tech boosts sales
Reuters | 2017/3/24

Geely Automobile Holdings posted its biggest profit growth in eight years as improved product design and engineering since its 2010 purchase of Volvo helped propel it to record sales.  For 2016, Geely's net profit more than doubled to 5.1 billion yuan ($741 million), its strongest growth since 2008.
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  Chery files trademark complaint against Mercedes over EV brand
Reuters | 2017/3/24

BEIJING  -- Chery Automobile Co. filed a complaint with China's trademark regulator over Mercedes-Benz's use of the "EQ" name for a line of electric vehicles, throwing up a potential road block for the Daimler AG unit.  A Chery spokeswoman said Thursday that the automaker had filed a complaint with the Trademark Office of the State Administration for Industry and Commerce, which it hopes will bar Mercedes from using the name in China.
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  Buick to roll out plug-in hybrids in China
Automotive News China | 2017/3/24

SHANGHAI -- General Motors plans to introduce plug-in hybrid versions of Buick models this year to meet tougher local fuel economy standards.  The plug-in hybrids will be fitted either with GM's 1.0-liter or 1.3-liter turbocharged engine and a nine-speed transmission, the company said.
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TOP 10 HEADLINES
OF THE LAST WEEK
Shanghai show to measure progress of China's would-be Teslas

Geely profits more than double as Volvo tech boosts sales

Dealer stockpiles spike as China's sales growth flattens

Chery files trademark complaint against Mercedes over EV brand

Buick to roll out plug-in hybrids in China

BMW CEO expects China to clarify EV quota

China to energize used-car market to spur new-vehicle sales

LeEco appoints new CEO for electric-car unit

Americans won't see Chinese cars at bargain-basement prices

VW Group deliveries fall 9.6% to start year

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