Beijing, July 8, 2024 – Chinese leading electric vehicle manufacturer BYD announced its intention to acquire a 20% stake in its long-standing distributor in Thailand, aimed at enhancing its market presence and influence in Southeast Asia. Through its subsidiary BYD International, BYD has reached an agreement with its Thai distributor to acquire equity in the Thai market. This transaction signifies a significant step in BYD’s strategy to expand its international business, particularly in the dynamic and emerging automotive market of Southeast Asia. A spokesperson for BYD commented, “Thailand holds strategic importance for BYD as a key automotive market in Southeast Asia. Through acquiring a stake in our Thai […]
In the “dual-carbon” goal driven by the accelerated transformation process of transportation electrification, power battery innovation has become the key to strengthen the level of competition in new energy vehicles, to create national industrial competitiveness, solid corporate competitive advantage. This year, both vehicle companies, or power battery companies, have aimed at new technologies at the same time layout of a new generation of power batteries – solid-state batteries, and accelerate the release of solid-state batteries “on board” schedule. Toyota’s long-silent solid-state batteries have movement and hope. 28 June, Toyota announced a new generation of electrification […]
Although facing a variety of unfavorable factors, global electric vehicle sales will continue to grow. A few days ago, Bloomberg New Energy Finance (BNEF) released its Long-Term Electric Vehicle Outlook report, predicting that market penetration of electric vehicles is still growing. Rapidly declining battery prices, advances in next-generation battery technology, and improved economics of electric vehicles compared to fuel vehicles will support the long-term growth of global electric vehicle sales. Global passenger electric vehicle sales are forecast to exceed 30 million units in 2027, accounting for 33% of global vehicle sales, and grow to 73 million units by […]
Detroit, USA, July 6, 2024 – Ford Motor Company has reported impressive growth in electric vehicle sales in its latest quarterly sales figures, trailing only industry leader Tesla. This marks significant progress for Ford in the electric vehicle market, showcasing ongoing efforts and achievements in transitioning to an electric vehicle manufacturer. According to Ford’s report, electric vehicle sales surged in the second quarter, particularly highlighted by strong performances from flagship models such as the Ford F-150 Lightning and Mustang Mach-E. These models not only gained widespread consumer acclaim but also achieved record sales in the market. Ford CEO James Farley stated, “We are very proud of our performance […]
On July 4, local time, the European Commission issued a notice saying that it had decided to impose temporary countervailing duties on imports of electric vehicles (BEVs) from China after a nine-month countervailing investigation into BEVs. The temporary tariffs apply to some Chinese automakers, including a 37.6% increase on SAIC, 19.9% on Geely, and 17.4% on BYD; an average of 20.8% for other automakers that cooperated with the EU investigation, and 37.6% for those that did not. Compared with the data disclosed by the EU on June 12, the tariff rate determined this time has been slightly reduced. […]
McLaren Automotive CEO Michael Leiters said that the UK needs to recognize that it cannot compete on the cost of mass-produced cars and should instead focus on driving the manufacture of high-value cars, according to Automotive News Europe. Speaking at a conference organized by the Society of Motor Manufacturers and Traders (SMMT) in the UK, Leiters said, “If we try to compete on cost and come out on top, we will fail. This doesn’t just apply to carmakers, it applies to the supply chain as well.” McLaren is encouraging the UK government […]