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BYD Europe aims to beat Tesla & big EU automakers

Teslarati

BYD Europe aims to beat Tesla and other prominent EU automakers, like Volkswagen and Stellantis. BYD Europe wants to triple its market in the region by 2025. The Chinese automaker plans to use an aggressive marketing strategy to accomplish its goal. Chinese EVs, like those made by BYD, are often more technologically advanced.

BYD 96
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Europe may slap retroactive tariffs on Chinese EVs

Baua Electric

After months of investigation, the European Commission says it has found evidence that China has been “unfairly” subsidizing the EVs it exports to Europe. Possible “remedies” on the table include retroactive tariffs on Chinese EVs. But now Europe may enforce its own tariffs. million overall BEV sales. BYD alone sold 1.6

Chinese 52
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Auto supplier Adient cuts jobs, transfers roles in Europe to shave costs – ET Auto

Baua Electric

European automakers face a trifecta of challenges: soft demand due to higher borrowing costs that discourage car purchases, fierce competition from Chinese rivals, and higher input costs squeezing their margins. The company’s sales suffered in the first quarter ended Dec.

Auto 52
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Chinese-made cars account for one in five BEV sales in February in Europe | Autocar Professional

Baua Electric

February 2024 was a positive month for the new car market in Europe. JATO’s data revealed that these vehicles were responsible for 61% of total sales in February 2024, in comparison to the 62% registered in February 2019. However, Battery Electric Vehicles (BEVs) are not driving growth as they historically have done.

Chinese 52
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Auto supplier Forvia posts organic sales growth for Q1 on strong N.America – ET Auto

Baua Electric

billion euros worth of new orders in the quarter, more than half of which came from Asia on the back of new deals with Chinese automakers. European automotive supplier Forvia reported higher organic sales for the first-quarter on Thursday driven by strong North America, and said new awards from Chinese carmakers had boosted quarterly orders.

Auto 52
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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. It reported quarterly sales of 5.43 As a result, EV high-voltage activity almost halved in the quarter, the CEO said.

Parts 52
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SAIC’s MG to open second Europe parts centre by the summer – ET Auto

Baua Electric

SAIC is currently evaluating whether to build a factory in Europe. MG Motors, a unit of Chinese automaker SAIC, will open a second European parts centre by the summer of 2024 in France to meet the country’s growing demand for its vehicles, a spokesperson told Reuters on Thursday.

Europe 52