electriccars
Brussels intends to impose definitive duties on imports of Chinese battery electric vehicles (BEVs), the European Commission announced Tuesday, edging closer to a long-term solution to shield the bloc’s homegrown BEV industry from unfair competition from Beijing. In draft final conclusions of its anti-subsidy probe, shared with Chinese BEV producers as well as the Chinese and EU governments on Tuesday, the Commission unveiled its intended definitive duty rates for a range of BEV producers. If approved by EU member states, those rates would apply for five years from their adoption, meaning Chin...
Euronews (English)
Struggling firm Varta has reached an agreement with creditors to secure fresh capital and alleviate its debt, notably by accepting the support of car manufacturer Porsche. According to new proposals, Porsche will take a 32% stake in Varta after injecting €60m into the company. The same cut will also be acquired by current majority owner Michael Tojner, who has agreed to invest €60m. Existing lenders, who will own the remaining 36% of Varta, have agreed to pay €60m by December 2027 in senior secured loans. This type of debt must be repaid before other loans in the case of company bankruptcy. Se...
Euronews (English)
A conveyor belt road could help Japan tackle two problems at once: greenhouse gas emissions and a shortage of lorry drivers. The latest plans for the 500 km route between Tokyo and Osaka were unveiled last month by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT). They show goods being transported either on belts running down the middle of highways, alongside hard shoulders or through underground tunnels in automated, driverless electric vehicles. The 24-hour ‘Autoflow-Road’ could carry the same amount of cargo per day as 25,000 trucks. It could be operational within a decade...
Euronews (English)
EU capitals are prepared to back the introduction of tariffs on Chinese electric vehicles, Valdis Dombrovskis, the European commissioner for trade, told the Financial Times. "It's clear that member states realise the need to protect the EU's car industry because this risk of injury is there," said Dombrovskis. "Chinese battery electric vehicle market share is growing very rapidly. That subsidisation is there." "So it’s certainly an issue that needs to be addressed." At the start of July, the European Union decided to impose provisional tariffs on EVs made in China, in the range of 17.4% to 37....
Euronews (English)
VinFast, a Vietnamese automaker that builds electric vehicles, announced in July that it would not begin production at its North Carolina plant for another four years. While the news is certainly a setback, the disappointment is compounded by the fact that the state is trying to bulldoze a number of private homes, and a church, to make the project happen. In March 2022, North Carolina Gov. Roy Cooper announced that VinFast would build its first North American plant in Chatham County. The company would spend $4 billion and create 7,500 jobs, with production from the completed factory set to beg...
Reason
The popular ride-sharing app Uber has unveiled a partnership with Tesla competitor BYD to bring the Chinese carmaker's EVs to the platform in Europe and Latin America. The two companies announced they plan to introduce 100,000 BYD model EVs on the Uber platform and eventually expand to other markets. It would offer Uber drivers access to better pricing, insurance, financing and other services for BYD vehicles, according to the companies. They said the plan would help accelerate the switch to EVs and that they also plan to collaborate in introducing autonomous-capable EVs on the Uber platform. ...
Euronews (English)
Prime Minister Giorgia Meloni has called for closer economic, cultural and scientific ties with China while visiting President Xi Jinping on her first official visit to Beijing since she became leader of Italy. The pair met at the Diaoyutai State Guesthouse following Meloni's inauguration of an exhibition dedicated to Marco Polo — the Venetian explorer and merchant who travelled through Asia on the Silk Road during the 13th century — in China's capital. During their meeting, the Italian prime minister highlighted that her visit fell on a "double anniversary": the 20-year anniversary of the str...
Euronews (English)
The number of electric cars is continuing to rise rapidly worldwide, according to the latest research out of Germany. The Centre for Solar Energy and Hydrogen Research (ZSW) reported on Sunday that there were around 42 million cars with electric motors at the end of 2023 - some 50% more than a year earlier. This figure includes purely electric vehicles, plug-in hybrids and electric vehicles with a range extender. According to the ZSW, there were 23.4 million of these cars in China, more than half of the global stock. Number two is the United States, although it was far behind with 4.8 million ...
DPA Breaking News
The number of electric cars is continuing to rise rapidly worldwide, according to the latest research out of Germany. The Centre for Solar Energy and Hydrogen Research (ZSW) reported on Sunday that there were around 42 million cars with electric motors at the end of 2023 - some 50% more than a year earlier. This figure includes purely electric vehicles, plug-in hybrids and electric vehicles with a range extender. According to the ZSW, there were 23.4 million of these cars in China, more than half of the global stock. Number two is the United States, although it was far behind with 4.8 million ...
DPA
The number of electric cars is continuing to rise rapidly worldwide, according to the latest research out of Germany. The Centre for Solar Energy and Hydrogen Research (ZSW) reported on Sunday that there were around 42 million cars with electric motors at the end of 2023 - some 50% more than a year earlier. This figure includes purely electric vehicles, plug-in hybrids and electric vehicles with a range extender. According to the ZSW, there were 23.4 million of these cars in China, more than half of the global stock. Number two is the United States, although it was far behind with 4.8 million ...
DPA International
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