CHERY AUTO
Chinese EVs win over some in South Korea, but Japan is proving to be a rougher road
Chinese electric vehicle makers such as BYD are making inroads into South Korea, challenging established domestic brands with competitively priced models and growing dealership networks. BYD has sold more than 20,000 vehicles in the country in the first nine months of the year, overtaking Toyota and Lexus combined. Japan, however, has proved a tougher market due to low EV adoption, consumer preference for hybrids and scepticism towards Chinese brands.
China's car glut has long flooded the world. Now comes the cleanup
China's auto industry faces a major reset as production exceeds domestic demand significantly. Toyota's planned joint venture consolidation with Chinese partners is an early indicator. Excess production is pushing Chinese automakers to export aggressively, causing global trade responses. Analysts predict a broad industry restructuring over the next two to three years. This consolidation aims to improve efficiency and address the challenges of overcapacity.
UK rules out JLR bailout as Tata-owned carmaker plans 4,000 job cuts amid rising costs
Jaguar Land Rover plans significant job cuts over two years due to rising costs and competition. The UK government will not provide financial support for the carmaker's restructuring efforts. JLR aims to achieve substantial savings and lower its break-even vehicle point. European automakers face increasing pressure from lower-priced Chinese electric vehicle manufacturers. The company is also strengthening its US operations and expanding into premium electric vehicles.
China robot makers flock to Beijing show, seek path to mass adoption
More than 300 companies are attending the World Robot Conference which runs through Sunday, displaying over 2,000 exhibits and launching more than 150 products, according to Beijing authorities.
Tata taps China's Chery for premium EV push, sources say
Tata Motors is set to license an automaking platform from China's Chery. This collaboration aims to accelerate the launch of Tata's premium electric vehicles under the Avinya brand. The company plans to build at least two new electric cars locally. The first Avinya model is expected to hit the market in 2027, marking a significant step in Tata's EV expansion.
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Chery Tiggo V: This wild Chinese SUV can turn into a pickup truck and even a camper
Chery Tiggo V: Chery has unveiled the 2027 Tiggo V, a versatile three-row family SUV capable of transforming into a dual-cab ute. This innovative "3-in-1 Family Vehicle" offers SUV, MPV, and pickup utility modes, catering to diverse family needs. Chery Australia is considering its introduction for lifestyle-focused buyers.
Mahindra eyes South Africa expansion as China rivals gain ground
Mahindra & Mahindra is reportedly in advanced talks to upgrade its South African plant, potentially introducing completely knocked-down (CKD) production. This move aims to capitalize on rising demand for affordable vehicles and sidestep potential import tariffs, enhancing local manufacturing capabilities and competition in the South African market.
China's SAIC to cut stake in India car venture with JSW amid investment curbs, sources say
SAIC Motor plans to reduce its stake in its Indian joint venture, JSW MG Motor, and halt further investments. Despite efforts to improve relations between India and China, investment proposals remain stalled. JSW's pursuit of a partnership with Chery Automobile has further strained the relationship.
China’s Chery to supply tech to help India’s JSW launch own EVs
Chery Automobile will provide technology and components to JSW Group, facilitating the launch of a new-energy vehicle brand in India by 2027. JSW will pay Chery a technology transfer fee and royalties, with no equity arrangement due to investment restrictions. This deal marks a significant technology transfer from a Chinese automaker to an Indian company amidst ongoing geopolitical tensions.
China plans crackdown on zero-mileage used car sales
China's industry ministry is considering a ban on reselling cars within six months of registration to tackle the issue of zero-mileage used cars. This practice, driven by intense competition and overcapacity, involves registering new vehicles to meet sales targets, creating problems for consumers. Automakers like Chery and BYD are planning to hold dealers accountable for such violations.
Chinese automakers expand in Africa with hybrids and EVs amid US, EU trade restrictions
Chinese automakers are aggressively targeting Africa's automotive market, particularly with electric and hybrid vehicles, due to export challenges in the U.S. and Europe. Companies like BYD and Chery are leveraging competitive pricing and viewing South Africa as a crucial entry point.
How China's EV makers aim to beat Tesla, legacy automakers in Europe
Chinese EV titans BYD, Chery and Great Wall Motor (GWM) are preparing a fusillade of product launches - about 20 over the next five years - and spending heavily on sales and marketing in their most important export market.
China is charging ahead with EVs. Why is the world worried?
Concerns over China's EV dominance in Western markets are rising, with Chinese automakers like BYD offering cheap electric vehicles that undercut Western prices, leading to fears of a future market takeover. The threat of Chinese EVs has prompted global automakers to join forces and consider manufacturing partnerships to stay competitive.
Chinese automakers open factories abroad as export clout causes friction
The growing clout of China car exports has been causing friction with the U.S. and Europe.
Chinese automakers hit by production issues with Huawei computing unit, sources say
Changan Auto and Chery Auto - both of which have partnered with Huawei in developing their premium electric vehicle (EV) brands - have lodged complaints and are in talks to resolve the issue, two of the people said.
Tesla and Chinese rivals signal truce in brutal EV price war
Tesla and 15 other automakers, including BYD, Nio, Xpeng, Geely and Chery Automobile, have pledged to avoid a price war and maintain fair competition in the world's biggest EV market, China. The pact comes after almost a year of discounts, issued by the automakers, as sales slowed down.
A trade union could derail Haah Automotive's bid for SsangYong
The company’s labour union could resist the incoming partner, Haah for having the backing of Chinese auto company said sources in the know. Chery has a technical tie up with Haah which might be perceived as an indirect investment into SsangYong.
HAAH Automotive bid for SsangYong is likely to give entry to China’s Chery
Sources close to the development told ET that HAAH may not have enough money to become a major shareholder of SsangYong with only 23 billion won in annual sales, with SsangYong needing 500 billion won to normalize its operations. The arrangement via Haah would suit Chery quite well as they would get in the required funds, over a period of time.
China's Chery produces 5 million cars this year
The five millionth car, Chery's best-selling model Arrizo5, rolled off a production line on Friday capped a good year for the company in defiance of a market downturn.
Ten stocks in focus in Thursday morning trade
Indian markets are expected to trade higher. Here is a list of ten stocks which are likely to be in focus in trade today.
Car sales curb in top cities hit Chinese manufacturers
The domestic brands have seen their market share shrink due to rising competition from foreign brands and tightened vehicle ownership regulations.
Automakers of the world vie to tap China market
Carmakers from around the world unveiled their latest products Monday at China's largest auto show, hoping to shrug off dreary times for the industry by tapping into the world's new top auto market.
Ford may sell Volvo unit to China’s Geely to stay afloat
Ford Motor Co, seeking to raise cash to avoid a federal bailout, is in talks to sell its Volvo Car unit to China’s Geely Automobile Holdings Ltd, according to three people familiar with the discussions.
Ford discusses Volvo sale to China Changan
Ford Motor is in talks to sell its Volvo car business to its China partner Changan Automobile Group, a media report said on Tuesday, citing an unnamed source at the Chinese company.
Bejing auto show spotlights booming China market
On display at next week's Beijing auto show: Global automakers' hopes that booming China will drive sales this year as demand elsewhere slumps.
Tata Ryerson hopes to double revenues to Rs 2,500 cr by '10
Tata Ryerson, a joint venture between Tata Steel and Ryerson of the US, is looking to double revenues to Rs 2,500 crore by 2010, riding on the demand for its high-value processed steel from Tata Nano and Tata ACE, among others.
China's passenger car sales up 24 pc in first nine months
Auto sales in China, the globe's second largest car market, soared in the first nine months of the year to 4.58 million units, a 23.84 per cent increase from a year ago.
China's Chery group matures into global auto player
China's Chery Auto sales vice president Jin Yibo remembers when the roof in the president's office had a leak so big that they had to put out buckets to collect the water.
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