The chancellor of Germany has urged industry bosses in China to play fair by not overproducing cheap goods or infringing copyright rules. Speaking on a three-day visit to China, where he is travelling with leading business representatives and three government ministers, Olaf Scholz said he, in turn, would encourage the European Union not to be driven by self-interested protectionism, in which governments restrict international trade to help domestic companies. Scholz was seen to be treading a careful path, driven by European concerns that Chinese goods are being dumped on the…
Tag: Automotive industry
Chinese EV battery maker in talks to invest £1bn in new UK gigafactory
A Chinese manufacturer of electric vehicle batteries is in talks to invest more than £1bn to build a giant new factory on the outskirts of Coventry. EVE Energy, which says it employs 28,000 staff worldwide, is understood to be in talks to construct a 5.7m sq ft gigafactory, which will form one of the main parts of the planned UK Centre for Electrification, an investment zone in the West Midlands. Sources with knowledge of the talks confirmed EVE’s interest in the project, which could create up to 6,000 jobs in…
Honda and Nissan join forces on electric car technology to chase Chinese rivals
Honda and Nissan have put aside the “traditional approach” of fierce rivalry to join forces and work together on electric vehicle technology as Japan’s carmakers try to catch up with Chinese competitors. The Japanese manufacturers will work together on technology for EVs, including components and software, after signing a memorandum of understanding on Friday. Honda and Nissan, respectively the country’s second- and third-largest carmakers behind Toyota, aim to cut costs by combining resources. Traditional manufacturers are struggling to compete profitably with upstart rivals as the electric vehicle sector grows rapidly,…
Carmakers may be using aluminium made by Uyghur forced labour, NGO investigation finds
Car manufacturers Toyota, Volkswagen, Tesla, General Motors and BYD may be using aluminium made by Uyghur forced labour in their supply chains and could do more to minimise that risk, Human Rights Watch says. An investigation conducted by HRW has alleged that while most automotive companies have strict human rights standards to audit their global supply chains, they may not be applying the same rigorous sourcing rules for their operations inside China. This includes joint venture companies inside China that make models for foreign brands for just the local market…
‘Breakthrough battery’ from Sweden may cut dependency on China
Europe’s energy and electric vehicle industries could reduce their dependency on scarce raw materials from China after the launch of a “breakthrough” sodium-ion battery, according to its Swedish developer. Northvolt, Europe’s only large homegrown electric battery maker, has said it has made a lower cost, more sustainable battery designed to store electricity which does not use lithium, nickel, graphite and cobalt. Britain and Europe’s electric battery industry is reliant on raw materials, or completed batteries, sourced from China and other Asian nations. Northvolt said its new battery, which has an…
Mercedes says electric car market is ‘brutal’ for manufacturers
Mercedes-Benz has said the electric car market is “brutal” for carmakers as heavy competition forces them to cut prices. Sales of electric cars are soaring in Europe and China, with the US further behind, but the rush of new launches is putting pressure on European manufacturers in particular, who are struggling to compete with cheap models coming from China. Harald Wilhelm, the chief financial officer of Mercedes-Benz, said the electric car industry was “a pretty brutal space”, on an analyst call on Thursday, Reuters reported, after the German carmaker reported…
Europe and the US should work with China. Joint climate action could be a win-win
Our polarised world is failing to tackle the climate crisis at the required speed. The only way to reverse this catastrophic situation is to get the three largest historical emitters – the US, Europe and China – to join forces, directly or indirectly, to accelerate the global shift to green energy. After months of rising tensions, the possible visit to Washington of the Chinese foreign minister, Wang Yi, later this month could pave the way for a highly anticipated but still unscheduled summit between presidents Joe Biden and Xi Jinping,…
China’s share of Europe’s electric car market accelerates as UK leads sales
China’s share of the European electric car market has more than doubled in less than two years as the world’s second largest economy tries to take the lead in the transition away from petrol and diesel cars. The UK is the largest market in Europe for Chinese electric car brands, accounting for almost a third of sales in 2023 so far, according to data from Schmidt Automotive Research on the 18 largest European car markets. About 5% of all new car sales in the UK were from Chinese brands in…
Lotus produces record 2,200 sports cars in first half of 2023
The British carmaker Lotus produced a record number of sports cars in the first half of 2023, as it gears up for a huge push behind sales of a new electric SUV under its Chinese owners’ expansion plans. Lotus, which marked its 75th anniversary this year, produced 2,200 vehicles in the first six months of the year at its factory in a former second world war bomber factory at Hethel in Norfolk. The bulk of the vehicles built were the Emira sports car, the first new Lotus product since the…
Twitter and Tesla’s interests at odds in Elon Musk’s quiet China visit
Followers of Elon Musk didn’t know what to expect from his trip to China. Would he speak about Tesla, a company with a large market and manufacturing footprint there? Or SpaceX, with its symbiotic relationship with the American state? Or even Twitter, the social network he bought because “free speech is the bedrock of a functioning democracy”? The one thing no one expected: silence. Musk sent his last tweet late on Monday night. The uncharacteristic hiatus was broken only on Thursday morning when he returned to the US and wrote…