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billion) was substantially higher than the prior-year figure (up 14%); the operating return on sales rose to 6.7% (6.0%). In spite of further challenges resulting from the diesel issue and the persistently difficult conditions in vehicle markets such as Brazil and Russia, the Group delivered 10.3 billion (US$15.4
While the situation in Brazil in particular remained tense, there was significant growth on the Chinese market. The positive delivery performance in Poland and the Czech Republic in particular offset the slight decline in Russia (-2.5%). —Jürgen Stackmann, Volkswagen Brand Board Member for Sales. Volkswagen recorded a 1.6%
Elon Musk may have caught the ire of many by suggesting a controversial way for the Russia-Ukraine War to end, but in a recent interview, the Tesla CEO also shared some of his thoughts on a potential peace plan between China and Taiwan. The plan was met with widely opposite reactions from the Chinese and Taiwanese governments.
Many Chinese vehicle makers recorded impressive growth between January and June. Its product portfolio featured 37 nameplates for sale in the first half of 2024. BYD is also China’s largest OEM by production and sales volumes, despite only offering BEV and PHEV models. Its Chinese brands saw sales increase by 68% year on year.
Energy is the foundation of Russia, its economy, its government, and its political system. Even a casual glance at the IMF’s World Economic Outlook statistics for Russia shows the tight correlation since 1992 between GDP growth on the one hand and oil and gas output, exports, and prices on the other (economic series available here ).
Why hes banking on an obscure Chinese electric car company and a CEO who - no joke - drinks his own battery fluid. Just this past year Russia sent tanks into oil-rich Georgia, and an oil tanker was hijacked off the coast of Somalia. So far, Asian manufacturers are leaving U.S. rivals in the dust. And they exist. 24.17% CBS Corp 6.76
Putting aside Robotaxi, those features unique to you, how long would it take your best Chinese competitors to copy a cheaper and better vehicle that you could offer a couple of years from now? How long would it take your best Chinese competitors to copy that? It is clear that a lot of our suppliers have excess capacity.
As a comparison , in 2011, there were only two battery electric and 29 hybrid electric vehicle models offered for sale in the US. In the past year, Chinese internet giant Baidu and Taiwanese electronics manufacturer Foxconn have both decided to get into the EV game. If it does, it could make the EV poker game a lot more interesting.
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