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China auto price war: BMW dealers offer discounts of up to $14,360 for i3

CN EV Post

A rare price stampede is taking place in the Chinese auto market. Image from BMW China Weibo) As a large number of car companies in China are offering huge subsidies or price cuts, BMW is offering more than 100,000 yuan ($14,360) off its all-electric model, the i3, according to local media.

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Germany’s auto industry – outrun by Tesla – to axe thousands more jobs

Baua Electric

Major car suppliers in Germany say they are struggling with the high upfront costs of shifting to EVs and “slow demand,” with companies looking to lay off thousands of workers, as much as 20% of total staff in some cases, in the coming years. The company employs 165,000 people around the world.

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Mitsubishi Rayon acquires majority of carbon fiber reinforced plastics company Wethje; targeting auto industry

Green Car Congress

MRC) recently executed a share sales and purchase agreement by which it will acquire 51% of Wethje Holding GmbH , a German company engaged in manufacturing of carbon fiber reinforced plastics (CFRP) parts for automobile applications, from Wethje parent Cross Industries AG. Mitsubishi Rayon Co.

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Vision-oriented AI company Recogni raises $25M; investors include Toyota AI Ventures, BMW i Ventures, Faurecia

Green Car Congress

the designers of a vision-oriented artificial intelligence platform for autonomous vehicles, announced $25 million in Series A financing led by GreatPoint Ventures with participation from Toyota AI Ventures, BMW i Ventures, Faurecia, Fluxunit (VC arm of lighting and photonics company OSRAM), and DNS Capital. Recogni Inc. ,

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European battery maker ACC partners with Circulor to map supply chain, carbon emissions – ET Auto

Baua Electric

The partnership comes as the European auto industry readies for a “battery passport” that will trace the content and carbon footprint of EV cells sold in Europe. Circulor CEO Douglas Johnson-Poensgen said the company was currently talking to companies up and down the EV battery cell supply chain.

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Li Auto rolls out price protection policy amid China auto price war

CN EV Post

The price war in China's auto industry has intensified the wait-and-see mood among car buyers, and Li Auto 's move helps to allay potential consumers' concerns to some extent. For consumers who purchase these models, if the prices drop within 90 days of their order, then Li Auto will refund the difference.

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Mercedes, Porsche, BMW stocks defy market downturn despite disruptions

Teslarati

The stocks of German luxury automakers, including Mercedes, Porsche, and BMW, have remained strong in recent months despite numerous disruptions. This is despite the near-constant supply shortages that have plagued (and continue to plague) the auto industry, notably in Europe. BMW stock chart by TradingView.

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