During an interview on CNN’s ‘Fareed Zakaria GPS’ program, Ford Motor’s Executive Chairman, Bill Ford, expressed his belief that the United States is not yet prepared to compete with China in the realm of electric vehicle (EV) production. He acknowledged China’s rapid development and large-scale production of EVs, which have allowed them to become major
SAN FRANCISCO — China was the biggest market for Tesla’s Model Y electric sport utility vehicles, helping it become the world’s top selling vehicle in the first quarter of this year, according to data from market research firm JATO shared with Reuters. Elon Musk on Tuesday visited China for the first time in three years,
Tesla is listing China-made Model 3 and Model Y models for sale in Canada, the company’s website showed on Tuesday, confirming the electric car maker has completed its first shipments to North America from its Shanghai factory. Tesla’s website showed both rear-wheel drive Model Y vehicles and the long-range, all-wheel drive version of the Model
WASHINGTON — The U.S. Justice Department said on Tuesday it has charged a former Apple Inc engineer with attempting to steal the firm’s technology related to autonomous systems, including self-driving cars, and then fleeing to China. The case was among five announced on Tuesday aimed at countering alleged efforts to illicitly acquire American technology by nations
Wolfgang Porsche, chairman of Porsche SE, with remnants of a cake thrown his way by activists at Volkswagen’s annual shareholder meeting. (Getty Images) BERLIN — Volkswagen defended its record in China and its decision to jointly own a plant in the Xinjiang region after activists and investors lashed out at the carmaker at a volatile
As the world’s largest automotive market, China has become a key battleground for automakers looking to establish a foothold in the electric vehicle (EV) market, and their love for SUV’s is changing the outlook for EV market share. Chinese automakers have been leading the charge in the domestic EV market, with brands such as NIO,
BEIJING/SHANGHAI — Chinese electric vehicle giant BYD Co. posted a fivefold jump in its first-quarter profit on Thursday as the company consolidated its leadership in the domestic market. Net profit for the first three months of the year was 4.13 billion yuan ($596.56 million), up 410.9% from 808.41 million yuan a year earlier, on revenue
Senator Ron Wyden is pressing automakers including Tesla and General Motors for more information about their supply chains amid concerns about forced labor in China. The Democrat from Oregon sent letters to the automakers and top suppliers Tuesday. Wyden is requesting details about their efforts to ensure that none of the materials in their cars
MOSCOW — As the exodus of Western carmakers narrows options for Russian consumers, Chinese automakers are filling the gap, forcing Russians to overcome their reluctance to embrace Chinese brands and stomach higher prices. Chinese brands such as Haval, Chery and Geely now account for almost 40% of Russia’s new car sales, data from analytical agency Autostat and consulting
BEIJING — SAIC Volkswagen Automotive Co is offering 3.7 billion yuan ($537 million) in cash subsidies for car purchases in China, joining more than 40 brands in slashing prices ahead of a change in emissions rules in the world’s largest auto market. The joint venture between China’s SAIC Motor Corp Ltd and Germany’s Volkswagen AG
