Remove Auto Remove China Remove Manufacturer Remove Stimulus
article thumbnail

IHS Markit: global auto sales to drop 22% this year

Green Car Congress

Impacts to global auto demand in the wake of COVID-19 have rapidly progressed to severity levels higher than the 2008-2009 recession, and significant uncertainty around prospects for a meaningful recovery remain. —Colin Couchman, executive director, global autos demand forecasting at IHS Markit. million units. million units.

Global 150
article thumbnail

China EV industry sell-off creates opportunity, says Morgan Stanley

CN EV Post

Li Auto leads the pack with superior execution, but risk-reward increasingly favors XPeng and NIO after a drastic sell-off this year, Morgan Stanley said. However, in Morgan Stanley's view, the sales potential of China's EV companies in the second half of the year is underestimated at a time when costs are sliding. "We

article thumbnail

China Forecast to Produce 12M Vehicles This year

Green Car Congress

China is forecast to produce a record 12 million vehicles this year, according to an official with the National Development and Reform Commission (NDRC). Sales of China’s domestically-made automobiles totaled 1.09 Sales of China’s domestically-made automobiles totaled 1.09 People’s Daily. million units in July, up 63.57

China 218
article thumbnail

Industrial material prices fall sharply on concerns about Chinese slowdown – ET Auto

Baua Electric

Crude steel production in China also increased 6 per cent to 261.6 Prices had been on the rise since the end of last year in anticipation of an economic recovery after China abandoned its zero-Covid policy, but there is mounting concern that growth there is slowing, according to Nikkei Asia. million tonne, according to Nikkei Asia.

Chinese 40
article thumbnail

China Car Sales Likely Hit New Record in April

Green Car Congress

Bolstered by government stimulus plans, sales of autos in China likely reached a record high of 1.15 million units, according to estimates from the China Association of Automobile Manufacturers (CAAM). People’s Daily. Official figures for vehicle production and sales are scheduled for release next Monday.

article thumbnail

Li-ion battery maker Boston-Power announces $125M in new financing; focus on and support from China

Green Car Congress

a provider of lithium-ion battery cells, modules and systems ( earlier post ), announced $125 million in new funding from a combination of private equity investment and support from China. As part of its plans, Boston-Power is establishing an R&D and EV battery engineering facility in China. Boston-Power, Inc., Reorganizing.

Boston 199
article thumbnail

ZAP, Zhejiang Jonway Partner to Target China and Export EV Markets

Green Car Congress

US-based electric vehicle provider ZAP and China auto manufacturer Zhejiang Jonway Automobile Co. have entered a commercial agreement to produce electric sport utility vehicles (SUVs), cars and other electric vehicles in China for domestic and global distribution. The Jonway A380. Click to enlarge.

China 186