Tag: Automobiles

Red Sea Attacks Leave Shipping Companies With Difficult Choices

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The shipping companies that move goods on one of the world’s busiest trade routes for factories, stores, car dealerships and other businesses face an excruciating decision. They can send their vessels through the Red Sea if they are willing to risk attacks by the Houthi militia in Yemen and to bear the cost of sharply higher insurance premiums. Or they can sail an extra 4,000 miles around Africa, adding 10 days in each direction and burning considerably more fuel. Neither option is appealing and both raise costs — expenses that…

Tesla Recalls 1.6 Million Cars in China to Fix Self-Driving Systems

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The Chinese government announced on Friday that Tesla would recall practically all of the cars it has sold in the country to adjust their assisted-driving systems, less than a month after a similar recall in the United States. To address the problems, Tesla will transmit updated computer software to its cars in China, the State Administration for Market Regulation said. The updated software involves “adding additional automatic assisted steering control,” the regulator said. It also said that Tesla would remind customers to pay attention to their driving and follow all…

China’s BYD Sold 3 Million Electric Vehicles and Hybrids in 2023

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The Chinese corporate giant BYD said Monday that it sold three million battery-powered cars in 2023, its most ever, capping a turbulent year for China’s electric vehicle industry. Even as sales surged, heavy competition and a sustained price war took a financial toll on many automakers. But BYD last year sold 1.6 million fully electric vehicles and another 1.4 million hybrids, which are powered by both batteries and gasoline. Together that is a 62 percent increase over 2022. BYD is also making money, tripling its profit to $1.5 billion in…

BYD, a Chinese Electric Car Giant, to Build a Plant in Hungary

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BYD, China’s electric-vehicle juggernaut, said Friday it would build an assembly plant in Hungary, its first production facility for battery-powered cars in Europe and the latest sign of the company’s ambitious plans to expand beyond Asia. BYD is already the world’s largest maker of electric vehicles, most of them sold in China, and has begun to open dealerships in Europe as it aims to expand sales globally. Last year it sold 1.86 million battery-powered cars, including plug-in hybrids, which have both an electric motor and gas-powered engine. That topped Tesla,…

How China Is Profiting From Trade With Russia

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On China’s snowy border with Russia, a dealership that sells trucks has seen its sales double in the past year thanks to Russian customers. China’s exports to its neighbor are so strong that Chinese construction workers built warehouses and 20-story office towers at the border this summer. The border town Heihe is a microcosm of China’s ever closer economic relationship with Russia. China is profiting from Russia’s invasion of Ukraine, which has led Russia to switch from the West to China for purchases of everything from cars to computer chips.…

Why Volkswagen Is Hiring 3,000 Engineers in China

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A bright orange robot, 10 feet tall, looms over Volkswagen’s new electric car assembly line in central China. It was imported from Germany. The factory’s other 1,074 robots were made in Shanghai. Volkswagen used to import shock absorbers from Central Europe for cars it makes at Chinese factories. Now it buys them from a company in China for 40 percent less. After relying for decades on engineers in Germany to design cars for the Chinese market, Volkswagen has begun hiring for a team of nearly 3,000 Chinese engineers, which will…

Tiny Electric Vehicles Pack a Bigger Climate Punch Than Cars

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In Darbhanga, a new acid-battery rickshaw, like the one Mr. Rai drives, sells for around 175,000 rupees, or $2,100. That’s half the price of a new rickshaw powered by natural gas. Charging the battery costs 20 rupees (25 cents), one-fourth of the price of filling a gas tank. The rebates seem to be working. Reliance Industries, India’s biggest company, is converting its three-wheeled cargo vehicles from gas to electric. Food delivery services are going electric as quickly as possible. Chetan Maini, whose company Sun Mobility builds charging infrastructure, said business…

China’s Electric Car Factories Are Facing a Worker Shortage

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Xing Wei graduated from a vocational high school in northeastern China in 2003 and went to work as an electrician in an auto parts factory in the country’s south. The only set of wheels he could afford was a black, three-speed bicycle. He earned $1,150 a year and shared a sweltering dormitory room with three other workers. “There was air-conditioning, but because we had to pay the electricity ourselves, we basically didn’t turn it on,” Mr. Xing said. Two decades later, Mr. Xing, 42, makes close to $60,000 a year.…

U.S. Debates How Much to Sever Electric Car Industry’s Ties to China

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The Biden administration has been trying to jump-start the domestic supply chain for electric vehicles so cleaner cars can be made in the United States. But the experience of one Texas company, whose plans to help make an all-American electric vehicle were upended by China, highlights the stakes involved as the administration finalizes rules governing the industry. Huntsman Corporation started construction two years ago on a $50 million plant in Texas to make ethylene carbonate, a chemical that is used in electric vehicle batteries. It would have been the only…

A New Law Supercharged Electric Car Manufacturing, but Not Sales

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President Biden’s signature climate law has stimulated a surge of investment in electric vehicle production across the country, including tens of billions of dollars on battery plants across the South and new assembly lines near the Great Lakes. Based on early evidence, it is succeeding at a goal that economists have long considered difficult and costly: using the power of government to rapidly grow a new industry. That growth could prove crucial for the other side of the electric vehicle equation: enticing more consumers to buy them. That’s because Mr.…