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  Great Wall warns incentives will dent first-half profits
Automotive News China | 2017/7/25

Great Wall Motor Co., China¡¯s largest manufacturer of SUVs and crossovers, estimates that net profits plummeted 49 percent year on year to 2.5 billion yuan ($379 million) in the first six months of the year.  The company attributed the decline in earnings to sales promotions that significantly squeezed profit margins on many products. 
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  Jaguar Land Rover begins output at first overseas engine plant
Reuters | 2017/7/25

 Jaguar Land Rover has opened its first overseas engine plant, picking China for the investment.  Britain's biggest carmaker, which already operates an assembly plant in China through its partnership with Chery Automobile Co., said the new factory is part of a 10.9 billion yuan ($1.6 billion) investment. 
>> Read Full Story

  SAIC-GM-Wuling joint venture launches first Baojun EV
Automotive News China | 2017/7/25

SAIC-GM-Wuling launched sales of its first Baojun electric car -- the E100, which is aimed at entry-level buyers. The car is priced as low as 35,800 yuan ($5,300), after national and local subsidies.  The E100 will be initially marketed as a low-volume niche vehicle.
>> Read Full Story

  China, U.S. clash over excess steel capacity
Reuters | 2017/7/25

China, seeking a more positive spin on recent U.S.-China economic talks that were viewed as ending in discord, said the two sides agreed to "active and effective measures" to reduce excess steel production capacity.
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  GM taps veteran manager Devereux for senior post at SAIC-Wuling venture
Automotive News China | 2017/7/25

General Motors appointed veteran manager Mike Devereux to executive vice president of SAIC-GM-Wuling Automobile Co.  Devereux will succeed the joint venture¡¯s current executive vice president, Gustavo Cespedes, who will return to GM Mexico.  The appointment takes effect Aug. 1.
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  Valeo's sales surge in first half
Automotive News China | 2017/7/25

French supplier Valeo SA's sales to auto manufacturers in China topped 1.1 billion euros (8.5 billion yuan) in the first six months of the year, an increase of 24 percent from a year earlier.  The company said it enjoyed strong sales to Chinese automakers, which represented 39 percent of Valeo¡¯s orders in the country. 
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  Toyota plans EV output in China as early as 2019, report says
Reuters | 2017/7/24

TOKYO -- Toyota Motor Corp. is expected to begin mass production of electric vehicles in China as early as 2019, the Asahi Shimbun daily reported. The model will be based on the C-HR subcompact crossover and manufactured for the Chinese market only, the newspaper said, without citing sources.
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  COMMENT
As EV quotas loom, automakers poised to buy carbon credits
Yang Jian | 2017/7/21

SHANGHAI -- Beijing is determined to impose quotas on electric vehicle output for automakers via a carbon credit trading program next year -- whether or not the industry is ready for it.  What will automakers do if they cannot ramp up production of EVs as quickly as required? Well, they can buy carbon credits from Chinese EV makers.   And that seems to be the strategy that many automakers -- both foreign and Chinese -- are likely to adopt.  Pictured: Yang Jian is managing editor of  Automotive  News China.
>> Read Full Commentary

  Porsche deliveries jump in first 6 months behind 2 crossovers
Automotive News China | 2017/7/21

Porsche's China sales rose 18 percent to 35,864 vehicles in the first six months as the company continued to gain share in its largest market.  For the same period, industry sales of light vehicles in China rose only 1.6 percent. Porsche has enjoyed strong demand for the Cayenne and Macan crossover models.
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  Volvo to take stake in Lynk & CO
Douglas A. Bolduc | 2017/7/21

Volvo Car Group said it will take a "significant" minority stake in sibling brand Lynk & CO, which will rely heavily on Volvo's vehicle technology and dealership network as it prepares to launch European and U.S. sales in 2019.  Volvo also will set up a joint venture with its Chinese parent, Zhejiang Geely Holding Group, to share existing and future technology with other brands in the Geely family. 
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  Baidu taps Microsoft to design self-driving cars
Automotive News | 2017/7/21

Baidu Inc. is relying on Microsoft to extend its self-driving car ambitions outside of China.  The two companies first said they would work together to develop Apollo, Baidu's open-source autonomous vehicle platform. Under new details released from Baidu, Microsoft will now provide data storage, security and artificial intelligence services to the project.
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  Audi ad, comparing wife to a used car, gets cool reception
Advertising Age | 2017/7/21

A new Audi ad is getting pushback on social media for comparing women to merchandise -- specifically, to used vehicles that need to be inspected from every angle.  It's an ad from Ogilvy & Mather Beijing promoting used Audi vehicles that have been inspected and officially certified for resale.
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  Faurecia buys stake in Chinese infotainment supplier
Reuters | 2017/7/21

French interiors supplier Faurecia is acquiring a majority stake in Chinese in-car entertainment and technology company Jiangxi Coagent Electronics for 1.45 billion yuan ($210 million). "This acquisition marks another important step in the development of our technology offer for the cockpit of the future," Faurecia CEO Patrick Koller said.
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  Daimler, Chery resolve EV trademark dispute
Automotive News China | 2017/7/21

Daimler AG and Chery Automobile Co. resolved a trademark dispute over the use of the English letters "E" and "Q" to identify their respective electric vehicle lineups.  Chery, which began selling its eQ line of electric vehicles in 2014, filed a complaint this year with China¡¯s trademark regulator about Mercedes-Benz¡¯s use of EQ as its EV brand.
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  Faraday hires veteran BMW exec to guide turnaround
Bloomberg | 2017/7/21

Faraday Future, the electric car startup backed by a financially troubled Chinese entrepreneur, has made another high-profile hire at a time of desperate need for stability.  Ulrich Kranz, 59, the head of BMW¡¯s Project i electric vehicle team, has joined Faraday after 30-plus years at the German luxury brand. 
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China, U.S. fail to agree on key trade issues
Reuters | 2017/7/20

WASHINGTON -- The U.S. and China failed to agree on major new steps to reduce the U.S. trade deficit with China, casting doubt over U.S. President Donald Trump's economic and security relations with Beijing. U.S. demands at the annual economic session in Washington included reducing excess Chinese steel capacity, reductions in China¡¯s auto tariffs, cutting subsidies for state-owned enterprises, ending Chinese requirements for data localization and lifting ownership caps for foreign firms in China.

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  BMW June deliveries rise as small models thrive
Automotive News China | 2017/7/18

Sales of the BMW and Mini brands in China rose nearly 12 percent year on year to 50,597 vehicles in June as the company enjoyed strong demand for entry-level models.  BMW attributed the results to adequate inventories of the X1 small crossover and the successful launch of the 1-series sedan, which debuted in April at the Shanghai auto show.
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  EV sales continue surge as subsidies attract buyers
Automotive News China | 2017/7/18

Sales of electric vehicles and plug-in hybrids jumped 33 percent year on year to 59,000 in June as car buyers took advantage of government subsidies.  EV deliveries rose for the third straight month after Beijing restored incentives earlier in the year, the China Association of Automobile Manufacturers said.
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  VW taps electric Golf to help meet China's EV quota
Automotive News Europe | 2017/7/18

Volkswagen AG plans to build an electric Golf compact car in China starting next year, using battery cells from a leading Chinese supplier to meet a controversial quota system for EVs.  The e-Golf that is assembled exclusively at VW's factory in Wolfsburg, Germany, would also be built at an FAW-Volkswagen assembly plant -- most likely in Foshan.  
>> Read Full Story

  SAIC-GM-Wuling venture opens Indonesia assembly plant
Automotive News China | 2017/7/18

SAIC-GM-Wuling Automobile Co., a producer of inexpensive minibuses and entry-level vehicles, opened an assembly plant in Indonesia to gain a foothold in Southeast Asia.  The joint venture¡¯s $700 million (4.7 billion yuan) factory is in Cikarang, a city in West Java in Indonesia. The plant will assemble up to 120,000 vehicles a year at full capacity, according to SAIC.
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  Dealership stockpiles of Chinese-brand vehicles rise in June
Automotive News China | 2017/7/18

The stockpile of Chinese-brand new vehicles on dealership lots jumped to a 71-day supply last month from 57 days in May as domestic automakers maintained production levels despite a slowing market.  Dealerships that sell vehicles built by Changan Automobile Co. and Chery Automobile Co. posted backlogs of more than 90 days, according to the China Automobile Dealers Association.
>> Read Full Story

  Jaguar to build E-Pace compact crossover at Chery joint venture plant
Automotive News China | 2017/7/18

Jaguar Land Rover will launch production of the all-wheel-drive Jaguar E-Pace in China this year to meet local market demand for compact crossovers.  The five-seater will be assembled at the automaker¡¯s joint venture with Chery Automobile Co. in the east China city of Changshu. It will go on sale in 2018 and is Jaguar¡¯s second light truck after the F-Pace. 
>> Read Full Story

  Renault quadruples China sales in first six months
Automotive News China | 2017/7/18

PARIS -- Renault almost quadrupled its China sales year on year to nearly 36,000 vehicles in the first six months, as the locally produced New Koleos crossover enjoyed a strong launch.  The French automaker started producing the New Koleos five-seater in China late last year. Through June, the crossover generated sales of 21,000.
>> Read Full Story

  Chinese investors buy Japanese luxury EV sports car maker
Bloomberg | 2017/7/18

China's drive to dominate the electric-vehicle market has claimed another overseas target.  When Japanese EV startup GLM Co. needed more funds to put its premium sports car into production, domestic backers couldn't muster the financing.  The search for an investor ended last week when a Hong Kong-based investment company called O Luxe Holdings agreed to purchase GLM for $113 million (767 million yuan).
>> Read Full Story

  COMMENT
Foreign suppliers favor fast-growing Chinese automakers
Yang Jian | 2017/7/14

SHANGHAI -- Until recently, global suppliers were reluctant to supply Chinese automakers that wanted small volumes of components at low prices.  But that¡¯s changing. Global suppliers are  increasingly reliant on Chinese automakers to expand their local sales, and Chinese auto brands have emerged as the main driver of growth.  Pictured: Yang Jian is managing editor of Automotive News China.
>> Read Full Commentary

  Light-vehicle sales rebound in June on higher crossover demand
Automotive News China | 2017/7/14

After a two-month decline, sales of light vehicles in China rose 2.3 percent year on year to 1.83 million in June as crossover demand remained strong, the China Association of Automobile Manufacturers reported. Crossover deliveries rose 16 percent to 741,400 last month. 
>> Read Full Story

  PSA slump drags on as company shakes up partnership
Automotive News China | 2017/7/14

PSA Peugeot Citroen's sales in China and Southeast Asia plunged nearly 49 percent to 152,380 in the first six months as the French automaker scrambled to carry out a turnaround plan.  All three PSA brands performed poorly in the first half and the company is moving to shake up its Chinese partnerships.
>> Read Full Story

  Geely expects profits to double in first six months
Automotive News China | 2017/7/14

Geely Automobile Holdings Ltd. expects net profits in the first half of this year will exceed 3.8 billion yuan ($570 million) -- more than double its net income in the year-earlier period.  In the first half of 2016, Geely¡¯s net income totaled 1.91 billion yuan. The company attributes its profit surge to growing vehicle sales and a favorable product mix.
>> Read Full Story

  Faraday cancels Las Vegas EV assembly plant
Reuters | 2017/7/14

TAIPEI  -- Faraday Future is moving production of its planned luxury electric SUV in Las Vegas to a new site, virtually scrapping a stalled $1 billion (6.8 billion yuan) assembly plant in the United States amid deepening financial woes of key investor and Chinese entrepreneur Jia Yueting.
>> Read Full Story

  London Taxi's new electric cabs to debut next year in Amsterdam
Reuters | 2017/7/14

LONDON  -- A new electric version of London's classic black cabs is to arrive next year on the streets of Amsterdam, the first export market for the new model as the Chinese-owned London Taxi Co. seeks to sell half its output abroad.  The company, which plans to formally change its name to London EV Co. this year, is undergoing a rapid expansion since it was bought out of bankruptcy in 2013 by China's Zhejiang Geely Holding Group.
>> Read Full Story

  Automakers seek relaxation of quotas on EV sales
Reuters | 2017/7/14

Global automakers are pressing the Chinese government to delay and soften ambitious proposals for electric and hybrid car sales quotas, a letter reviewed by Reuters shows. The letter is a joint protest against China's new-energy vehicle proposals, which include a goal for hybrids and EVs to make up at least a fifth of industry vehicle sales by 2025 with a staggered system of quotas beginning in 2018.

>> Read Full Story
 

TOP 10 HEADLINES
OF THE LAST WEEK
As EV quotas loom, automakers poised to buy carbon credits

Porsche deliveries jump in first 6 months behind 2 crossovers

Volvo to take stake in Lynk & CO

Baidu taps Microsoft to design self-driving cars

Audi ad, comparing wife to a used car, gets cool reception

Faurecia buys stake in Chinese infotainment supplier

Daimler, Chery resolve EV trademark dispute

Faraday hires veteran BMW exec to guide turnaround

China, U.S. fail to agree on key trade issues

BMW June deliveries rise as small models thrive

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