On Wednesday, the CEO of Daimler-BAIC’s joint venture’s stated, he views the Chinese auto market in 2020 as “moderately positive”; his assessment is based on its April sales performance in China. Daimler-BAIC’s CEO Arno van der Merwe made the comments during a visit to the Beijing Benz Automotive Co’s plant. He did not comment on…
On Monday, Silk EV, a little-known U.S.-based engineering and design firm disclosed it plans on investing $1.41 billion (10 billion yuan) in order to make sports cars with China’s FAW Group under the Hongqi brand, the brand of choice for China’s late revolutionary leader Chairman Mao Zedong. Silk EV has signed a memorandum of understanding…
This strategic investment aligns multiple sweet spots: in a single stroke Elon Musk is increasing Tesla’s footprint in China, the world’s biggest auto market, boosting production capacity and export potential while facing Chinese EV startups head-on. In a development that marks Tesla’s latest attempt to boost its footprint in China, as per a local business…
Tesla has been facing some serious headwinds in selling its models in China. The price cuts should add to the allure of its models. In a strategic decision, Tesla Inc stated, it is slashing the price of its Model S and Model X cars in China in order to boost their sales that potentially have…
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