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Geely Auto plans to build an assembly plant in Vietnam. The Chinese automaker plans to expand production in Vietnam through its investment. The Chinese automaker announced it is forming a joint venture with Vietnam’s Tasco Joint Stock Company. It will also expand its local supply chain in Vietnam.
The Chinese automaker estimates account for some challenges BYD expects this year. A 20% increase will not be easy to achieve, given the current weak market sentiment,” said Zhao Zhen, a sales director at Wan Zhuo Auto—a car dealer in Shanghai. In the first two months of 2024, BYD delivered 325,706 cars, up 2.9% year-over-year.
BYD Auto BYD Auto is currently the top-selling EV manufacturer in the world, having overtaken Tesla in late 2023. VinFast VinFast is a Vietnam-based company that was established in 2017 by Vingroup. Zhidou Zhidou is a Chinese manufacturer of electric microcars. The VinFast VF 8–now on sale in the U.S.
Within 66 hours, VinFast secured 27,649 pre-orders , a new record in Vietnam. The company said its mini electric SUV became a “social media phenomenon” in Vietnam, topping trend rankings with the most online discussions. BYD Atto 3 (Source: BYD) Can VinFast’s VF 3 compete overseas with BYD and other Chinese EV makers?
Tesla China, SAIC, Chery, Geely, Stunning Wall Motors, Changan, and BYD are a number of the largest participants to Chinese language car exports. These days, SAIC is the biggest Chinese language car exporter with its MG emblem contributing essentially the most to this stellar efficiency. 37 million automobiles.
Global expansion: Springboard Vietnam While Arm Welders’ current exports are negligible, the management has ambitious plans to increase it to 20-25% of revenue within the next few years. This international push hinges on a strategic foray into Vietnam, spearheaded by an order from Skoda.
BYD set to begin EV production in Thailand in Q3 After showcasing its full range of brands at the Bangkok Auto Show this week, BYD said it will kick off EV production in the country in Q3. According to recent reports , BYD is pushing back plans for an additional factory in Vietnam amidst the expansion.
Rising EV sales are set to remake the global auto industry and significantly reduce oil consumption for road transport, according to the new edition of the IEA’s annual Global EV Outlook , released today. This shift will have major ramifications for both the auto industry and the energy sector. Get started here. –ad*
Chinese car makers can undercut rivals in Europe because their production costs are heavily subsidised. In addition, China exported over 4 million cars in 2023, making it the largest auto exporter in the world, among which 1.2 Chinese companies accounted for 75% of electric car sales in 2022, and 45% in 2023. million were EVs.
The United States government has pulled out massive tariffs in an attempt to prevent Chinese automakers from flooding the market with cheap vehicles, but the country’s industry has found loopholes that could help it get around those actions, including manufacturing vehicles in other countries. tariffs that reach 100 percent in some cases.
Photo: Qcells The US has imposed new anti-dumping tariffs on solar panels imported from Southeast Asia, tightening restrictions on Chinese manufacturers accused of using these countries to avoid fair trade rules. Affected companies include Chinese-headquartered Jinko Solar and Trina Solar. Get started here.
. “Hyundai Motor and Kia have to brace for the worst by reducing their reliance on China and broadening their supply chains into other countries such as Vietnam,” Lee Ho-geun , an automotive engineering professor at Daedeok University, told the Korea Times. will regulate any connected vehicles that are equipped with Chinese parts.
The Trump Administrations new 25% tariffs on goods from Canada and Mexico are larger than the 10% additional tariffs on Chinese goods, but the latter will have the biggest impact on the electric bicycle industry in the US. Tariffs placed on Chinese goods, including electric bikes, are not a new phenomenon.
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