Analysts at JPMorgan Chase & Co. expect BYD to deliver 6 million vehicles globally over the next two years, according to Bloomberg, which raised its price target for BYD shares by more than 80 per cent. Based on data compiled by Bloomberg, JPMorgan now has the highest price targets for BYD’s shares in Hong Kong and Shenzhen, raising them to HK$475 (RMB 442) and RMB 440, respectively, while rating BYD’s stock as a “hold”. The bank expects BYD to deliver about 1.5 million vehicles in overseas markets by 2026, while deliveries in its home market in […]
According to foreign media reports, Mercedes Benz chief technology officer Markus Schaefer said on 8 July that the company will wait and see if demand for electric vehicles will pick up before increasing battery capacity. Mercedes-Benz had said in 2022 that by 2030, the company will need more than 200 GWh of battery capacity, and plans to build eight battery factories around the world with partners, four of which are located in Europe. However, with current market demand for electric vehicles lower than many automakers expect, Mercedes said earlier this year that it doesn’t expect sales of […]
Tianqi lithium, salt lake shares, huayou cobalt, ganfeng lithium, yongxing material, in mining resources, rongjie shares, jiangte electric machinery, wei lead shares and many other upstream lithium resources enterprise performance in the first half of the year “cold”. Data show that as of the evening of 9 July, a total of 1,346 A-share companies disclosed 2024 first-half results forecast, 894 companies with a profit, accounting for more than 60%. Among them, 322 companies performance forecast, more than 80 companies are expected to turn a loss into a profit. A shares of listed companies in the first half of the performance […]
Honda Motor said on 9 July that it will stop vehicle production at its Ayutthaya province plant in Thailand by 2025 as the company plans to consolidate its Thai output to its Prachinburi province plant, Reuters reported. Honda’s move underscores the increasingly difficult situation the company faces in Thailand as consumer demand for electric vehicles continues to grow and Chinese automakers are aggressively seeking to gain market share in the country. A Honda spokeswoman said its Ayutthaya plant in Thailand, which first started production in 1996, will start producing auto parts after it stops making cars next […]
South Korea’s auto exports hit a record high in the first half of the year, thanks to climbing sales of high-margin hybrid cars and SUVs, according to Korea JoongAng Daily. According to the Ministry of Industry, Trade and Resources (MITR) and the Korea Trade Association (KITA), South Korea’s auto exports were worth $37 billion from January to June this year, up 3.8 per cent from $35.7 billion in the same period last year. Among them, auto exports to the United States rose 30 per cent year-on-year to $18.5 billion, accounting for 49.9 per cent of the country’s total auto exports, making […]
Porsche, the renowned German luxury automobile manufacturer, has reported a significant decline in sales in China for the first half of the year. The company’s sales figures show a notable 33% decrease compared to the same period last year. This downturn in Porsche’s performance in the Chinese market comes amidst various challenges faced by the automotive industry globally, including supply chain disruptions and shifting consumer preferences. The impact of these factors has been particularly pronounced in China, where economic uncertainties and regulatory changes have also played a role. Despite the decline, Porsche remains optimistic about its long-term prospects in China. The company continues to introduce new models and innovative technologies […]