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CAAM calls for return to normal order in China's auto industry as price war disrupts sector

CN EV Post

(Image credit: CnEVPost) The price war is one of the most talked-about topics in China's auto industry this month, creating operational challenges for many car companies. Now, an industry association is calling for a return to rationality for all parties to bring order to the market.

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Renault talks to China’s Li Auto and Xiaomi on tech collaboration – ET Auto

Baua Electric

Renault held talks this week with China’s Li Auto and Xiaomi on electric and intelligent vehicle technologies , the French carmaker said on Friday, opening the door to potential collaboration on technology with the two companies. China disputes the claim and has accused Europe of protectionism.

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Scholz hails Northvolt factory as sign of Germany’s industrial appeal – ET Auto

Baua Electric

Germany is and will remain a strong industrial location, Chancellor Olaf Scholz said on Monday as he formally opened construction at Northvolt’s battery cell factory in Heide, in the northern state of Schleswig-Holstein. Battery cells “Made in Germany” would help to build cars beyond combustion engines, he added.

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STMicro cuts FY revenue outlook as softer car demand weighs – ET Auto

Baua Electric

Weakness in auto and industrial demand have been weighing on the sector, while investors remain cautious amid high interest rates, with escalating tensions in the Middle East increasing fears. Bernstein SG analyst Sara Russo said it was the first time the company had acknowledged the car market was weaker than expected.

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A mini industry spawns under the hood of a booming car market – ET Auto

Baua Electric

Under the auto boom, a smaller industry is also growing: the used or pre-owned car market, where for every two new cars, three used cars are sold. Fuelled by rising disposable incomes, an influx of new sport-utility vehicles, and attractive loan rates, India’s car market is racing ahead.

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Hyundai, Kia join China’s Baidu to develop connected cars – ET Auto

Baua Electric

Seoul, South Korea’s top carmaker Hyundai Motor and its affiliate Kia said on Sunday that they have inked an agreement with China’s tech giant Baidu to develop technologies for connected cars. The agreement came amid the growing market for connected cars in China.

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Car parts maker Valeo posts lower first-quarter sales on weak EV demand – ET Auto

Baua Electric

Car parts makers face slowing auto production, leaving suppliers with excess capacity, and are striving to reduce costs, including laying off workers, as Chinese EV makers expand in Europe. We expect that what we were able to get in 2022 and 2023, we will be able to get again in 2024.”

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