Los Angeles — A vintage blue VW bus that became an unlikely symbol of resilience after it survived a California wildfire made its public debut this week, shiny and like-new after Volkswagen spent months restoring the damaged vehicle. The bus went viral in January when an Associated Press photographer captured it looking surprisingly unharmed by…
For years, many foreign companies treated China as a vast consumer base or a low-cost manufacturing hub. Now that paradigm is shifting dramatically. China is not just where multinationals scale production or sell at volume; it is increasingly where they make strategic decisions, engage in serious research and development and innovate in ways that will…
Germany’s business leaders have seen the flashing red warning signs that relying on China is risking economic calamity. They’re just not heeding them. From autos to chemicals, the country’s biggest exporters are ignoring government pleas and pouring billions into new projects that tie their fortunes even closer to the world’s second-largest economy. German corporate investment…
Volkswagen Group is poised to launch a new electric vehicle (EV) next year that leverages Chinese technology to compete with established domestic players like BYD and Geely in the world’s largest automotive market. The German carmaker, which has seen a decline in market share in mainland China since 2020 amid a rapid adoption of EVs,…
The platform, which commenced operations on Tuesday, was jointly established by two state-owned enterprises (SOEs): China Reform Holdings, an investment vehicle focused on industries related to national security and the economy, and research institute China Automotive Technology and Research Centre. According to the firms’ joint announcement at an industry conference in Shenzhen on the same…
The Hong Kong operations would serve as a strategic base for the Beijing-based carmaker to “oversee its research and development [R&D], intellectual property management and international supply chain functions”, said InvestHK, the Hong Kong government’s investment promotion arm, in a statement on Thursday. Li Auto, one of the few profitable EV makers in mainland China,…
For car buyers interested in electric vehicles, the clock is ticking to take advantage of federal tax credits on new and used EVs before they expire on Sept. 30. Introduced in 2022 under the Inflation Reduction Act signed, the federal tax credits — $7,500 for new and $4,000 for used — are being phased out…
China sold more EVs than any other nation last year, and insurance premiums collected from these cars touched 141 billion yuan. …Read More China sold more EVs than any other nation last year, and insurance premiums collected from these cars touched 141 billion yuan (REUTERS) The world’s largest electric vehicle market, China, is running into…
Porsche slows EV rollout, trims 2025 profit forecast amid weak demand, China pressures and US tariffs. Porsche AG on Friday dialled back plans for its electric vehicle rollout due to weaker demand, pressure in key market China and higher U.S. tariffs, causing the luxury sportscar maker and its parent Volkswagen to slash their 2025 profit…
MUNICH (Reuters) -U.S. tariffs have cost Volkswagen, Europe’s largest carmaker, billions of euros so far, its chief executive said on Monday, adding that its key brand Porsche was being squeezed in a “sandwich” of duties and a weak Chinese market. “Up to now, it’s several billion euros on our balance sheet that this situation costs…