Jlaw
ELITE MEMBER
- Joined
- Nov 6, 2013
- Messages
- 9,693
- Reaction score
- -22
- Country
- Location
Great news. The Donald will be angry and tweet more nonsense. Trump is the best US president in the history of US.
China Automobile Industry, Technology (NEV, Driverless, etc): News & Images
- Thread starter TaiShang
- Start date
JSCh
ELITE MEMBER
- Joined
- Jun 9, 2011
- Messages
- 13,235
- Reaction score
- 2
- Country
- Location
Wed Jul 5, 2017 | 2:23am EDT
Geely's Volvo to go all electric with new models from 2019
Geely-owned Volvo Car Group said on Wednesday all new models launched from 2019 will be fully electric or hybrids, spelling the eventual end to nearly a century of Volvos powered solely by the internal combustion engine.
The Gothenburg-based company will continue to produce pure combustion-engine Volvos from models launched before that date, but said it would introduce cars across its model line-up that ranged from fully electric cars to plug-in hybrids.
Volvo's plans make it the first major traditional automaker to set a date for the complete phase-out of combustion-engine-only models though electrification has long been a buzzword across the industry and Elon Musk's Tesla Motors has been a pure-play battery carmaker from day one.
"This announcement marks the end of the solely combustion engine-powered car," Volvo Cars Chief Executive Hakan Samuelsson said in a statement.
Five new models set to be launched in 2019 through 2021 - three of them Volvos and two Polestar-branded - will all be fully electric.
"These five cars will be supplemented by a range of petrol and diesel plug in hybrid and mild hybrid 48-volt options on all models," Volvo said.
"This means that there will in future be no Volvo cars without an electric motor."
Volvo has invested heavily in new models and plants since being bought by Zhejiang Geely Holding Group from Ford Motor Co. in 2010, establishing a niche in a premium auto market dominated by larger rivals such as Daimler's Mercedes-Benz and BMW.
Part of its strategy has also been to embrace emerging technologies which allow higher performance electric vehicles as well as, eventually, self-driving cars.
Only last month, Volvo said it would reshape its Polestar business into a standalone brand, focused on high-performance electric cars aimed at competing with Tesla and the Mercedes AMG division.
Volvo has also taken steps towards an eventual listing, raising 5 billion crowns from Swedish institutional investors through the sale of newly issued preference shares last year, though the company has said no decision on an IPO has been made.
(This version of the story corrects paragraph 5 to say models will be fully electric)
(Reporting by Niklas Pollard, editing by David Evans)
Geely's Volvo to go all electric with new models from 2019 | Reuters
Geely's Volvo to go all electric with new models from 2019
Geely-owned Volvo Car Group said on Wednesday all new models launched from 2019 will be fully electric or hybrids, spelling the eventual end to nearly a century of Volvos powered solely by the internal combustion engine.
The Gothenburg-based company will continue to produce pure combustion-engine Volvos from models launched before that date, but said it would introduce cars across its model line-up that ranged from fully electric cars to plug-in hybrids.
Volvo's plans make it the first major traditional automaker to set a date for the complete phase-out of combustion-engine-only models though electrification has long been a buzzword across the industry and Elon Musk's Tesla Motors has been a pure-play battery carmaker from day one.
"This announcement marks the end of the solely combustion engine-powered car," Volvo Cars Chief Executive Hakan Samuelsson said in a statement.
Five new models set to be launched in 2019 through 2021 - three of them Volvos and two Polestar-branded - will all be fully electric.
"These five cars will be supplemented by a range of petrol and diesel plug in hybrid and mild hybrid 48-volt options on all models," Volvo said.
"This means that there will in future be no Volvo cars without an electric motor."
Volvo has invested heavily in new models and plants since being bought by Zhejiang Geely Holding Group from Ford Motor Co. in 2010, establishing a niche in a premium auto market dominated by larger rivals such as Daimler's Mercedes-Benz and BMW.
Part of its strategy has also been to embrace emerging technologies which allow higher performance electric vehicles as well as, eventually, self-driving cars.
Only last month, Volvo said it would reshape its Polestar business into a standalone brand, focused on high-performance electric cars aimed at competing with Tesla and the Mercedes AMG division.
Volvo has also taken steps towards an eventual listing, raising 5 billion crowns from Swedish institutional investors through the sale of newly issued preference shares last year, though the company has said no decision on an IPO has been made.
(This version of the story corrects paragraph 5 to say models will be fully electric)
(Reporting by Niklas Pollard, editing by David Evans)
Geely's Volvo to go all electric with new models from 2019 | Reuters
JSCh
ELITE MEMBER
- Joined
- Jun 9, 2011
- Messages
- 13,235
- Reaction score
- 2
- Country
- Location
Bosch, Nvidia, Grab join Baidu's autonomous driving alliance
50 partners have joined the Chinese search engine giant's Apollo mission.
By Asha McLean | July 5, 2017 -- 05:12 GMT (13:12 GMT+08:00)
Baidu has officially launched its Apollo project, naming 50 partners to help it accelerate the development and adoption of autonomous driving.
First announced in April, Apollo is an open platform that allows access to the technology behind its autonomous vehicles. It is expected to support all major features and functions of an autonomous vehicle, including cloud services and an open software stack, reference hardware and vehicle platforms, and tools to support various functions such as obstacle perception, trajectory planning, and vehicle control.
---> Bosch, Nvidia, Grab join Baidu's autonomous driving alliance | ZDNet
50 partners have joined the Chinese search engine giant's Apollo mission.
By Asha McLean | July 5, 2017 -- 05:12 GMT (13:12 GMT+08:00)
Baidu has officially launched its Apollo project, naming 50 partners to help it accelerate the development and adoption of autonomous driving.
First announced in April, Apollo is an open platform that allows access to the technology behind its autonomous vehicles. It is expected to support all major features and functions of an autonomous vehicle, including cloud services and an open software stack, reference hardware and vehicle platforms, and tools to support various functions such as obstacle perception, trajectory planning, and vehicle control.
---> Bosch, Nvidia, Grab join Baidu's autonomous driving alliance | ZDNet
china has a lot of auto companies. this is huge. this is like android of self-driving car industry. lol.. western and jap auto makers are all building their own system. feel sorry for google
JSCh
ELITE MEMBER
- Joined
- Jun 9, 2011
- Messages
- 13,235
- Reaction score
- 2
- Country
- Location
Chinese-made electric taxis unveiled in Brazil
Source: Xinhua| 2017-07-15 04:41:06|Editor: Mu Xuequan
RIO DE JANEIRO, July 14 (Xinhua) -- Electric taxis manufactured by Chinese vehicle maker BYD were unveiled in Belo Horizonte, capital of Brazil's southeast state of Minas Gerais and would begin to circulate in the next few days.
The Chinese-made environment-friendly taxis, which can travel up to 400 kilometers on a single battery charge, have 110 horsepower, equal to a standard car running on fossil fuel.
Belo Horizonte's public transit system already has a fleet of BYD electric buses and minibuses, whose success led to the decision to expand the network to taxis.
According to the manufacturer, the electric vehicles are not only green, but also economical, representing savings of up 85 percent in operational costs, compared to conventional gas-guzzling cars.
BYD has established operations in Brazil's biggest city Sao Paulo, and expects to sell some 2,000 electric vehicles nationally by the end of 2018.
Source: Xinhua| 2017-07-15 04:41:06|Editor: Mu Xuequan
RIO DE JANEIRO, July 14 (Xinhua) -- Electric taxis manufactured by Chinese vehicle maker BYD were unveiled in Belo Horizonte, capital of Brazil's southeast state of Minas Gerais and would begin to circulate in the next few days.
The Chinese-made environment-friendly taxis, which can travel up to 400 kilometers on a single battery charge, have 110 horsepower, equal to a standard car running on fossil fuel.
Belo Horizonte's public transit system already has a fleet of BYD electric buses and minibuses, whose success led to the decision to expand the network to taxis.
According to the manufacturer, the electric vehicles are not only green, but also economical, representing savings of up 85 percent in operational costs, compared to conventional gas-guzzling cars.
BYD has established operations in Brazil's biggest city Sao Paulo, and expects to sell some 2,000 electric vehicles nationally by the end of 2018.
JSCh
ELITE MEMBER
- Joined
- Jun 9, 2011
- Messages
- 13,235
- Reaction score
- 2
- Country
- Location
China Focus: China leads new energy vehicle development
Source: Xinhua| 2017-07-16 16:38:06|Editor: ying
BEIJING, July 16 (Xinhua) -- China now leads the world in new energy vehicle (NEV) development, according to a survey ranking China top in its global electric vehicle development index for the first time in the second quarter of 2017.
Results of the survey, the E-Mobility Index (2Q/2017), were jointly released by German consultancy Roland Berger and automobile study institute Forschungsgesellschaft Kraftfahrwesen Aachen on Tuesday.
Starting in 2009, China's new energy auto industry experienced a robust expansion and it has become the world's largest market since 2015, according to a statement from the Ministry of Industry and Information Technology (MIIT).
The German consultancy's report said that China will play a leading role in the future development of the global NEV industry thanks to its strong market growth.
Sales of electric cars in China grew rapidly, from less than 5,000 in 2011 to around 510,000 in 2016.
Production and sales were particularly robust in June of this year, with 59,000 units sold and 65,000 produced, up 33 percent and 43.4 percent respectively from a year earlier.
The China Association of Automobile Manufacturers estimated that domestic NEV sales could hit 800,000 units at the end of this year.
Industry insiders attributed the impressive progress of the Chinese market to government support and simpler licensing procedures.
"The output, sales and ownership of NEVs in China all accounted for more than half of global levels last year," said Chinese Vice Premier Ma Kai at a meeting in early July, adding more research should be carried out in batteries, charging technology and the construction of charging facilities.
In April, the Guideline on China's Medium and Long-term Car Industry Development was jointly published by the MIIT, the National Development and Reform Commission and the Ministry of Science and Technology.
The document said that new energy cars were expected to be a key area in building China from a "big" auto power to a "strong" one.
Besides the government support, market demand and efforts by auto makers also prompted the domestic industry's trend, according to the survey.
Beijing Automotive Industry Corp. (BAIC), a leading domestic auto manufacturer, recorded year-on-year sales growth of NEVs as high as 159 percent in 2016 and 99 percent in the first half of 2017.
Chinese auto companies including BYD, BAIC and Geely ranked among the top brands worldwide in terms of electric car sales last year, according to the China Passenger Car Association.
International cooperation on NEV production is also gearing up.
In June, German car giant Daimler signed a framework agreement in Berlin with China's BAIC to produce Mercedes-Benz-branded electric cars via their joint venture, Beijing Benz Automotive.
In accordance with the agreement, both enterprises are preparing to produce electric vehicles in China by 2020 and to provide the necessary infrastructure for battery localization using Chinese cells, as well as to expand research and development capacity.
Volkswagen plans to offer Chinese consumers about 400,000 NEVs by 2020 and over 1.5 million by 2025, which has been an important part of the company's ambition in the Chinese market, according to Jochem Heizmann, CEO of Volkswagen Group China.
As downward economic pressure becomes more intensive and the domestic market continues to expand, the deep-rooted challenges facing the industry need to be addressed.
"The cost of batteries is the issue of most concern for current development," said Ouyang Minggao from China EV100, a domestic industry group.
"The industrial foundation is not solid and we have not achieved breakthroughs in core technology of NEV batteries, so the competitiveness of the industry should be further sharpened," said Qu Guochun, deputy director-general of the machinery industry department at the MIIT.
To further promote the healthy and sustainable development of the industry, more efforts should be made in improving the innovation system, advancing industrial transformation and upgrading, and strengthening the application of NEVs, Qu said.
Source: Xinhua| 2017-07-16 16:38:06|Editor: ying
BEIJING, July 16 (Xinhua) -- China now leads the world in new energy vehicle (NEV) development, according to a survey ranking China top in its global electric vehicle development index for the first time in the second quarter of 2017.
Results of the survey, the E-Mobility Index (2Q/2017), were jointly released by German consultancy Roland Berger and automobile study institute Forschungsgesellschaft Kraftfahrwesen Aachen on Tuesday.
Starting in 2009, China's new energy auto industry experienced a robust expansion and it has become the world's largest market since 2015, according to a statement from the Ministry of Industry and Information Technology (MIIT).
The German consultancy's report said that China will play a leading role in the future development of the global NEV industry thanks to its strong market growth.
Sales of electric cars in China grew rapidly, from less than 5,000 in 2011 to around 510,000 in 2016.
Production and sales were particularly robust in June of this year, with 59,000 units sold and 65,000 produced, up 33 percent and 43.4 percent respectively from a year earlier.
The China Association of Automobile Manufacturers estimated that domestic NEV sales could hit 800,000 units at the end of this year.
Industry insiders attributed the impressive progress of the Chinese market to government support and simpler licensing procedures.
"The output, sales and ownership of NEVs in China all accounted for more than half of global levels last year," said Chinese Vice Premier Ma Kai at a meeting in early July, adding more research should be carried out in batteries, charging technology and the construction of charging facilities.
In April, the Guideline on China's Medium and Long-term Car Industry Development was jointly published by the MIIT, the National Development and Reform Commission and the Ministry of Science and Technology.
The document said that new energy cars were expected to be a key area in building China from a "big" auto power to a "strong" one.
Besides the government support, market demand and efforts by auto makers also prompted the domestic industry's trend, according to the survey.
Beijing Automotive Industry Corp. (BAIC), a leading domestic auto manufacturer, recorded year-on-year sales growth of NEVs as high as 159 percent in 2016 and 99 percent in the first half of 2017.
Chinese auto companies including BYD, BAIC and Geely ranked among the top brands worldwide in terms of electric car sales last year, according to the China Passenger Car Association.
International cooperation on NEV production is also gearing up.
In June, German car giant Daimler signed a framework agreement in Berlin with China's BAIC to produce Mercedes-Benz-branded electric cars via their joint venture, Beijing Benz Automotive.
In accordance with the agreement, both enterprises are preparing to produce electric vehicles in China by 2020 and to provide the necessary infrastructure for battery localization using Chinese cells, as well as to expand research and development capacity.
Volkswagen plans to offer Chinese consumers about 400,000 NEVs by 2020 and over 1.5 million by 2025, which has been an important part of the company's ambition in the Chinese market, according to Jochem Heizmann, CEO of Volkswagen Group China.
As downward economic pressure becomes more intensive and the domestic market continues to expand, the deep-rooted challenges facing the industry need to be addressed.
"The cost of batteries is the issue of most concern for current development," said Ouyang Minggao from China EV100, a domestic industry group.
"The industrial foundation is not solid and we have not achieved breakthroughs in core technology of NEV batteries, so the competitiveness of the industry should be further sharpened," said Qu Guochun, deputy director-general of the machinery industry department at the MIIT.
To further promote the healthy and sustainable development of the industry, more efforts should be made in improving the innovation system, advancing industrial transformation and upgrading, and strengthening the application of NEVs, Qu said.
JSCh
ELITE MEMBER
- Joined
- Jun 9, 2011
- Messages
- 13,235
- Reaction score
- 2
- Country
- Location
Chinese companies speed up takeovers in overseas auto industry: media
Source: Xinhua| 2017-07-19 12:53:10|Editor: Lu Hui
WASHINGTON, July 18 (Xinhua) -- Chinese companies accelerated their takeover efforts in the overseas auto industry in the first half of 2017, aiming for a bigger role in international auto markets, Wall Street Journal reported on Tuesday.
Chinese companies made eight overseas deals totaling more than 5.5 billion U.S. dollars in the first half of this year, compared with nine investments for all of last year, said the report.
Tencent Holdings, one of China's most famous internet companies, spent 1.78 billion dollars on a 5-percent stake in Tesla in March, a move targeting the lucrative self-driving vehicles and related services.
Last month, Ningbo Joyson Electronic Corp. announced a 1.59-billion-dollar takeover of the bankrupt Japanese air-bag maker Takata. If finalized, the purchase will be Ningbo Joyson's fourth overseas takeover in two years.
China's investments in the overseas auto industry have totaled more than 34 billion dollars since 2008, according to the report. In the United States, Chinese companies now are hiring thousands of workers and manufacturing products from auto glasses to luxury cars.
Zhejiang Geely Holding Group Co. announced in 2015 an investment of 500 million dollars to build a Volvo plant that would employ 2,000 people in Ridgeville, South Carolina.
And Fuyao Glass Industry Group Co. has spent 1 billion dollars on U.S. manufacturing facilities, including reopening a former General Motors Co. plant in Moraine, Ohio, which will employ 2,500 people.
Source: Xinhua| 2017-07-19 12:53:10|Editor: Lu Hui
WASHINGTON, July 18 (Xinhua) -- Chinese companies accelerated their takeover efforts in the overseas auto industry in the first half of 2017, aiming for a bigger role in international auto markets, Wall Street Journal reported on Tuesday.
Chinese companies made eight overseas deals totaling more than 5.5 billion U.S. dollars in the first half of this year, compared with nine investments for all of last year, said the report.
Tencent Holdings, one of China's most famous internet companies, spent 1.78 billion dollars on a 5-percent stake in Tesla in March, a move targeting the lucrative self-driving vehicles and related services.
Last month, Ningbo Joyson Electronic Corp. announced a 1.59-billion-dollar takeover of the bankrupt Japanese air-bag maker Takata. If finalized, the purchase will be Ningbo Joyson's fourth overseas takeover in two years.
China's investments in the overseas auto industry have totaled more than 34 billion dollars since 2008, according to the report. In the United States, Chinese companies now are hiring thousands of workers and manufacturing products from auto glasses to luxury cars.
Zhejiang Geely Holding Group Co. announced in 2015 an investment of 500 million dollars to build a Volvo plant that would employ 2,000 people in Ridgeville, South Carolina.
And Fuyao Glass Industry Group Co. has spent 1 billion dollars on U.S. manufacturing facilities, including reopening a former General Motors Co. plant in Moraine, Ohio, which will employ 2,500 people.
TaiShang
ELITE MEMBER
- Joined
- Apr 30, 2014
- Messages
- 27,848
- Reaction score
- 70
- Country
- Location
Chinese-made electric taxis unveiled in Brazil
Source: Xinhua| 2017-07-15 04:41:06|Editor: Mu Xuequan
RIO DE JANEIRO, July 14 (Xinhua) -- Electric taxis manufactured by Chinese vehicle maker BYD were unveiled in Belo Horizonte, capital of Brazil's southeast state of Minas Gerais and would begin to circulate in the next few days.
The Chinese-made environment-friendly taxis, which can travel up to 400 kilometers on a single battery charge, have 110 horsepower, equal to a standard car running on fossil fuel.
Belo Horizonte's public transit system already has a fleet of BYD electric buses and minibuses, whose success led to the decision to expand the network to taxis.
According to the manufacturer, the electric vehicles are not only green, but also economical, representing savings of up 85 percent in operational costs, compared to conventional gas-guzzling cars.
BYD has established operations in Brazil's biggest city Sao Paulo, and expects to sell some 2,000 electric vehicles nationally by the end of 2018.
BYD is becoming the Toyota of E-vehicles. Baidu joining the EV software business is reinforcing China's dominance even further.
TaiShang
ELITE MEMBER
- Joined
- Apr 30, 2014
- Messages
- 27,848
- Reaction score
- 70
- Country
- Location
China auto sales rise 6.2 pct in July
Xinhua, August 11, 2017
China's auto sales continued to increase in July, evidence of the steady growth of the world's largest car market, data from China Association of Automobile Manufacturers (CAAM) showed Friday.
Some 1.97 million vehicles were sold last month, up 6.2 percent year on year, extending the momentum in June that saw sales rise 4.5 percent.
Meanwhile, 2.06 million vehicles were produced in July, up 4.8 percent from the same period last year, according to the CAAM.
In the first seven months, total auto output and sales increased by 4.7percent and 4.1 percent year on year to 15.59 million and 15.33 million vehicles, respectively.
Sales and production of new energy vehicles maintained fast growth, and the market share of domestic brands went up in July, said the CAAM without giving further details.
Earlier data from China Passenger Car Association showed China sold 43,117 new energy passenger cars last month, surging 46 percent year on year.
The robust growth came as China has intensified efforts to encourage the use of new energy vehicles to ease pressure on the environment, by offering tax exemptions and discounts for car purchases, and ordering government organizations to buy more new energy cars.
China has been the world's largest car market for eight consecutive years.
http://china.org.cn/business/2017-08/11/content_41394121.htm
***
At least 80% of the home market should be occuppied by China-made brands. Otherwise, the sheer size matters little.
@AndrewJin , @cirr , @Shotgunner51 , @oprih , @Jlaw
Xinhua, August 11, 2017
China's auto sales continued to increase in July, evidence of the steady growth of the world's largest car market, data from China Association of Automobile Manufacturers (CAAM) showed Friday.
Some 1.97 million vehicles were sold last month, up 6.2 percent year on year, extending the momentum in June that saw sales rise 4.5 percent.
Meanwhile, 2.06 million vehicles were produced in July, up 4.8 percent from the same period last year, according to the CAAM.
In the first seven months, total auto output and sales increased by 4.7percent and 4.1 percent year on year to 15.59 million and 15.33 million vehicles, respectively.
Sales and production of new energy vehicles maintained fast growth, and the market share of domestic brands went up in July, said the CAAM without giving further details.
Earlier data from China Passenger Car Association showed China sold 43,117 new energy passenger cars last month, surging 46 percent year on year.
The robust growth came as China has intensified efforts to encourage the use of new energy vehicles to ease pressure on the environment, by offering tax exemptions and discounts for car purchases, and ordering government organizations to buy more new energy cars.
China has been the world's largest car market for eight consecutive years.
http://china.org.cn/business/2017-08/11/content_41394121.htm
***
At least 80% of the home market should be occuppied by China-made brands. Otherwise, the sheer size matters little.
@AndrewJin , @cirr , @Shotgunner51 , @oprih , @Jlaw
Stranagor
SENIOR MEMBER
- Joined
- May 11, 2014
- Messages
- 2,187
- Reaction score
- -8
- Country
- Location
Chinese automakers covet FCA
Answering Beijing's call for foreign acquisitions
August 14, 2017 @ 12:01 am
Fiat Chrysler's hot Jeep products, such as the Grand Cherokee, make the company desirable.
DETROIT — For more than two years, FCA has been FSBO — that's For Sale By Owner — with no serious offers.
Not anymore.
Representatives of a well-known Chinese automaker made at least one offer this month to buy Fiat Chrysler Automobiles at a small premium over its market value, Automotive News has learned. The offer was rejected for not being enough, a source said.
Meanwhile, other sources independently identified executives from other large Chinese automakers conducting their own due diligence on a potential purchase of FCA, including meeting last week with representatives of U.S. retail groups about a potential acquisition. A source said FCA executives have traveled to China to meet with Great Wall Motor Co. And Chinese delegations were seen last week at FCA's headquarters in Auburn Hills, Mich.
Marchionne: Making FCA enticing.
Chinese companies are under government pressure to expand outside China by acquiring foreign companies. FCA may be a perfect target, given that CEO Sergio Marchionne has focused on streamlining the automaker's operations to make it enticing to a buyer, making bold moves such as exiting small cars and sedans and revamping the company's manufacturing footprint.
It's unclear which Chinese automaker or automakers are pursuing FCA. Different sources have pointed to involvement by different ones — Dongfeng Motor Corp., Great Wall, Zhejiang Geely Holding Group or FCA's current joint venture partner in China, Guangzhou Automobile Group. But it is also unclear which company or companies are likely to follow through or succeed.
Unsurprisingly, FCA isn't talking, nor are any of the four Chinese automakers. But if a sale proceeds, the quintessentially American Jeep brand — once owned by the Germans and most recently by the Italians/Dutch — may soon be owned by the Chinese.
According to one source, any sale likely would involve FCA's highly profitable Jeep and Ram brands, as well as Chrysler, Dodge and Fiat, but would exclude Maserati and Alfa Romeo. Those two brands would be spun off, as was Ferrari, to maximize returns for Exor, the holding company controlled by the Agnelli family, which owns a controlling interest in FCA, the source said, speaking on condition of anonymity.
Why, after two years on the block, is FCA apparently drawing interest from at least one potential Chinese buyer now?
The answer: FCA's global network and product — specifically Jeep and Ram — fit the requirements the Chinese government has set for attractive acquisitions.
Quality gap
Chinese automakers have openly dreamed of cracking lucrative North America for a decade, spending millions to display their vehicles at high-profile U.S. auto shows. Early efforts showed that Chinese automakers had a long way to go before they were ready to compete here.
But in more recent years — through knowledge and expertise gained via joint ventures with the world's largest and most successful automakers — Chinese companies have closed the quality gap.
And the automakers feel like they finally have closed that gap enough to start selling their products in the U.S., said Michael Dunne, president of Dunne Automotive, a Hong Kong investment advisory company and an expert on the Chinese auto industry.
They also are under pressure from the government to expand beyond China, Dunne said.
A government directive dubbed China Outbound pushes Chinese businesses to acquire international assets from their industries and operate them "to make their mark," much as Geely has done since acquiring Volvo in 2010. Bloomberg reported last week that Chinese companies plan to spend $1.5 trillion acquiring overseas companies over the next decade — a 70 percent increase from current levels.
"Right now, Chinese automakers enjoy the full support of the leadership in Beijing to go and make it happen," Dunne said. "That's something brand new, and it's really picked up since 2015."
Along with Volvo, Dunne pointed to Italian tire maker Pirelli and German robotics giant Kuka as Chinese acquisitions supported by the China Outbound policy.
Interest has been growing for some time. In May 2016, FCA hosted a high-level delegation from China at its North American headquarters, which included Hu Chunhua, a member of the Communist Party's Politburo and secretary of the party's Guangdong Provincial Committee. Also in attendance were Cui Tiankai, China's ambassador to the U.S., and Zhang Fangyou, chairman of Guangzhou Automobile Group.
"The interest is real, no question," Dunne said. "The complications are on the political side: What would this mean for a Chinese company to acquire an American automaker, no matter where its corporate headquarters is based?"
Turnkey operation
For a Chinese automaker that dreams of making a splash in North America, Europe and Latin America, FCA presents as close to a turnkey operation as exists.
Globally, FCA has 162 manufacturing operations — assembly, component, stamping and machining plants — and another 87 r&d centers. In North America, FCA has a network of about 2,600 U.S. dealerships, as well as extensive distribution networks in Canada and Mexico.
And unlike other, larger publicly owned automakers with similar global footprints, Marchionne and his bosses at Exor have made one thing clear: Write a big enough check, and the keys to FCA are yours.
When it became apparent in late 2015 that FCA's attempts to merge with General Motors had been rejected and any effort to tie up with Volkswagen was shut down because of that automaker's then-blooming diesel emissions scandal, Marchionne began focusing attention inward, looking at why his company had not been more attractive to potential partners. In early 2016, he began implementing radical changes to make FCA more appealing, especially to an Asian automaker, but also to Volkswagen.
First, FCA shocked the industry by ending production of its compact and midsize sedans in the U.S., the Dodge Dart and Chrysler 200. The cars had been among the first fruits of bankrupt Chrysler's 2009 shotgun marriage to Fiat S.p.A., but both had disappointing sales.
At the same time, Marchionne expanded development for his two cash cows, Jeep and Ram. He retooled plants from unibody construction back to body-on-frame to expand production of the Ram 1500 and Jeep Wrangler, and he announced that, after years of consumer clamoring, Jeep would again build a pickup and would soon build big luxury Jeeps to compete with Land Rover.
Product development plans laid out in 2014 — to vastly expand the Chrysler lineup, for example — were scrapped. FCA's North American product line would go where the money was: pickups, SUVs and the minivan.
Stretch goals
The transformation, which will be largely complete by 2018, will mean FCA showrooms will resemble those of a decade ago when gasoline prices spiked: full of SUVs, crossovers, minivans and pickups and devoid of anything smaller or more fuel-efficient. The transformation has helped FCA's quarterly financials, and Marchionne says the automaker is on track to achieve in 2018 what had been widely considered pie-in-the-sky goals laid out in 2014.
FCA has also looked hard at shedding holdings not directly related to automaking as a way to free trapped value for shareholders. That could include separation from parts maker Magneti Marelli, casting specialist Teksid and automation provider Comau.
On a conference call with analysts last month, Marchionne laid out the strategy.
"In order to be fair to our shareholders, we need to make sure that we deliver as much value out of this venture as we can," he said.
The prospect of selling FCA to a Chinese automaker has been on Marchionne's mind awhile. In August 2015, months after he began his quest to merge or partner with another global automaker with his "Confessions of a Capital Junkie" presentation, and while he was launching his soon-to-be-rebuffed bid to merge with GM, the FCA CEO told Automotive News that he had closely studied potential tie-ups with numerous Asian automakers.
His conclusion: None of the Asian automakers was looking for partners.
He was asked: Anyone in Asia?
"I don't think Asia is partnerable," he said. "No, you can be acquired by the Asians. I think China will buy you."
Yang Jian contributed to this report.
Answering Beijing's call for foreign acquisitions
August 14, 2017 @ 12:01 am
Fiat Chrysler's hot Jeep products, such as the Grand Cherokee, make the company desirable.
DETROIT — For more than two years, FCA has been FSBO — that's For Sale By Owner — with no serious offers.
Not anymore.
Representatives of a well-known Chinese automaker made at least one offer this month to buy Fiat Chrysler Automobiles at a small premium over its market value, Automotive News has learned. The offer was rejected for not being enough, a source said.
Meanwhile, other sources independently identified executives from other large Chinese automakers conducting their own due diligence on a potential purchase of FCA, including meeting last week with representatives of U.S. retail groups about a potential acquisition. A source said FCA executives have traveled to China to meet with Great Wall Motor Co. And Chinese delegations were seen last week at FCA's headquarters in Auburn Hills, Mich.
Marchionne: Making FCA enticing.
Chinese companies are under government pressure to expand outside China by acquiring foreign companies. FCA may be a perfect target, given that CEO Sergio Marchionne has focused on streamlining the automaker's operations to make it enticing to a buyer, making bold moves such as exiting small cars and sedans and revamping the company's manufacturing footprint.
It's unclear which Chinese automaker or automakers are pursuing FCA. Different sources have pointed to involvement by different ones — Dongfeng Motor Corp., Great Wall, Zhejiang Geely Holding Group or FCA's current joint venture partner in China, Guangzhou Automobile Group. But it is also unclear which company or companies are likely to follow through or succeed.
Unsurprisingly, FCA isn't talking, nor are any of the four Chinese automakers. But if a sale proceeds, the quintessentially American Jeep brand — once owned by the Germans and most recently by the Italians/Dutch — may soon be owned by the Chinese.
According to one source, any sale likely would involve FCA's highly profitable Jeep and Ram brands, as well as Chrysler, Dodge and Fiat, but would exclude Maserati and Alfa Romeo. Those two brands would be spun off, as was Ferrari, to maximize returns for Exor, the holding company controlled by the Agnelli family, which owns a controlling interest in FCA, the source said, speaking on condition of anonymity.
Why, after two years on the block, is FCA apparently drawing interest from at least one potential Chinese buyer now?
The answer: FCA's global network and product — specifically Jeep and Ram — fit the requirements the Chinese government has set for attractive acquisitions.
Quality gap
Chinese automakers have openly dreamed of cracking lucrative North America for a decade, spending millions to display their vehicles at high-profile U.S. auto shows. Early efforts showed that Chinese automakers had a long way to go before they were ready to compete here.
But in more recent years — through knowledge and expertise gained via joint ventures with the world's largest and most successful automakers — Chinese companies have closed the quality gap.
And the automakers feel like they finally have closed that gap enough to start selling their products in the U.S., said Michael Dunne, president of Dunne Automotive, a Hong Kong investment advisory company and an expert on the Chinese auto industry.
They also are under pressure from the government to expand beyond China, Dunne said.
A government directive dubbed China Outbound pushes Chinese businesses to acquire international assets from their industries and operate them "to make their mark," much as Geely has done since acquiring Volvo in 2010. Bloomberg reported last week that Chinese companies plan to spend $1.5 trillion acquiring overseas companies over the next decade — a 70 percent increase from current levels.
"Right now, Chinese automakers enjoy the full support of the leadership in Beijing to go and make it happen," Dunne said. "That's something brand new, and it's really picked up since 2015."
Along with Volvo, Dunne pointed to Italian tire maker Pirelli and German robotics giant Kuka as Chinese acquisitions supported by the China Outbound policy.
Interest has been growing for some time. In May 2016, FCA hosted a high-level delegation from China at its North American headquarters, which included Hu Chunhua, a member of the Communist Party's Politburo and secretary of the party's Guangdong Provincial Committee. Also in attendance were Cui Tiankai, China's ambassador to the U.S., and Zhang Fangyou, chairman of Guangzhou Automobile Group.
"The interest is real, no question," Dunne said. "The complications are on the political side: What would this mean for a Chinese company to acquire an American automaker, no matter where its corporate headquarters is based?"
Turnkey operation
For a Chinese automaker that dreams of making a splash in North America, Europe and Latin America, FCA presents as close to a turnkey operation as exists.
Globally, FCA has 162 manufacturing operations — assembly, component, stamping and machining plants — and another 87 r&d centers. In North America, FCA has a network of about 2,600 U.S. dealerships, as well as extensive distribution networks in Canada and Mexico.
And unlike other, larger publicly owned automakers with similar global footprints, Marchionne and his bosses at Exor have made one thing clear: Write a big enough check, and the keys to FCA are yours.
When it became apparent in late 2015 that FCA's attempts to merge with General Motors had been rejected and any effort to tie up with Volkswagen was shut down because of that automaker's then-blooming diesel emissions scandal, Marchionne began focusing attention inward, looking at why his company had not been more attractive to potential partners. In early 2016, he began implementing radical changes to make FCA more appealing, especially to an Asian automaker, but also to Volkswagen.
First, FCA shocked the industry by ending production of its compact and midsize sedans in the U.S., the Dodge Dart and Chrysler 200. The cars had been among the first fruits of bankrupt Chrysler's 2009 shotgun marriage to Fiat S.p.A., but both had disappointing sales.
At the same time, Marchionne expanded development for his two cash cows, Jeep and Ram. He retooled plants from unibody construction back to body-on-frame to expand production of the Ram 1500 and Jeep Wrangler, and he announced that, after years of consumer clamoring, Jeep would again build a pickup and would soon build big luxury Jeeps to compete with Land Rover.
Product development plans laid out in 2014 — to vastly expand the Chrysler lineup, for example — were scrapped. FCA's North American product line would go where the money was: pickups, SUVs and the minivan.
Stretch goals
The transformation, which will be largely complete by 2018, will mean FCA showrooms will resemble those of a decade ago when gasoline prices spiked: full of SUVs, crossovers, minivans and pickups and devoid of anything smaller or more fuel-efficient. The transformation has helped FCA's quarterly financials, and Marchionne says the automaker is on track to achieve in 2018 what had been widely considered pie-in-the-sky goals laid out in 2014.
FCA has also looked hard at shedding holdings not directly related to automaking as a way to free trapped value for shareholders. That could include separation from parts maker Magneti Marelli, casting specialist Teksid and automation provider Comau.
On a conference call with analysts last month, Marchionne laid out the strategy.
"In order to be fair to our shareholders, we need to make sure that we deliver as much value out of this venture as we can," he said.
The prospect of selling FCA to a Chinese automaker has been on Marchionne's mind awhile. In August 2015, months after he began his quest to merge or partner with another global automaker with his "Confessions of a Capital Junkie" presentation, and while he was launching his soon-to-be-rebuffed bid to merge with GM, the FCA CEO told Automotive News that he had closely studied potential tie-ups with numerous Asian automakers.
His conclusion: None of the Asian automakers was looking for partners.
He was asked: Anyone in Asia?
"I don't think Asia is partnerable," he said. "No, you can be acquired by the Asians. I think China will buy you."
Yang Jian contributed to this report.
JSCh
ELITE MEMBER
- Joined
- Jun 9, 2011
- Messages
- 13,235
- Reaction score
- 2
- Country
- Location
12-meter-long electric smart bus starts road test in central China
2017-08-16 10:28 Ecns.cn Editor:Yao Lan
Photo taken on Aug. 15, 2017 shows a 12-meter-long electric smart bus running on the road during a road test in Zhuzhou, central China's Hunan Province. Chinese rail maker CRRC announced it has developed a 12-meter-long electric smart bus on July 18, with a top speed of 40 kilometers per hour. (Xinhua/Shen Hong)
Photo taken on Aug. 15, 2017 shows a 12-meter-long electric smart bus automatically decelerating to yield to pedestrians during a road test in Zhuzhou, central China's Hunan Province.
Photo taken on Aug. 15, 2017 shows a 12-meter-long electric smart bus making a turn at the intersection during a road test in Zhuzhou, central China's Hunan Province.
2017-08-16 10:28 Ecns.cn Editor:Yao Lan
Photo taken on Aug. 15, 2017 shows a 12-meter-long electric smart bus running on the road during a road test in Zhuzhou, central China's Hunan Province. Chinese rail maker CRRC announced it has developed a 12-meter-long electric smart bus on July 18, with a top speed of 40 kilometers per hour. (Xinhua/Shen Hong)
Photo taken on Aug. 15, 2017 shows a 12-meter-long electric smart bus automatically decelerating to yield to pedestrians during a road test in Zhuzhou, central China's Hunan Province.
Photo taken on Aug. 15, 2017 shows a 12-meter-long electric smart bus making a turn at the intersection during a road test in Zhuzhou, central China's Hunan Province.
Menthol
SENIOR MEMBER
- Joined
- Aug 2, 2017
- Messages
- 4,196
- Reaction score
- 0
- Country
- Location
I wonder... Is Chinese Passangers car good? Does some one know the link for Chinese car review for 2017 released car? How it compare with Toyota and BMW?
Recently China Wuling Confero S start to sell car in my country, Indonesia. Is this car good?
Reading Chinese automotive above sound so wonderful, like self driving technology, EV, etc. But what about the real car itself?
Recently China Wuling Confero S start to sell car in my country, Indonesia. Is this car good?
Reading Chinese automotive above sound so wonderful, like self driving technology, EV, etc. But what about the real car itself?
Real question is can your avarage country man afford good car?
If the poor can only afford cheap car, then that's what China sell to your country!
JSCh
ELITE MEMBER
- Joined
- Jun 9, 2011
- Messages
- 13,235
- Reaction score
- 2
- Country
- Location
Geely first-half profit jumps 128pc spurred by Volvo technology and design
Net profit for the six months hits 4.3 billion yuan (US$643 million) on revenue of 39.4 billion yuan, which represented an 118 per cent jump
PUBLISHED : Wednesday, 16 August, 2017, 3:22pm
UPDATED : Wednesday, 16 August, 2017, 7:29pm
Daniel Ren Lam Ka-sing
Geely Automobile Holdings, the Chinese carmaker whose parent owns the Swedish car marque Volvo, has reported a thumping 128 per cent jump in after-tax half-year profit, driven by soaring sales, as it improved the design and engineering of its product range.
Net profit for the six months, ended June 30, was 4.3 billion yuan (US$643 million) on revenue of 39.4 billion yuan, which represented an 118 per cent jump. The earnings beat analysts’ estimates of 4.0 billion yuan.
And its president An Conghui said the automaker was equally upbeat for the remainder of the year.
“Our sales performance is continuously strong and our upcoming new models received very good market feedback. We’re confident in achieving a 10 per cent rise in full year sales volume target of 1.1 million units,” An added.
The company has not distributed any dividend, but starting from next year, it “should have a better chance of distributing an interim dividend and better full year end dividend,” added Gui Shengyue, its chief executive. “We have such good performance.”
Peter Chen, a Shanghai-based engineer with US components maker TRW, said: “Geely has emerged as one of the biggest winners among the domestic auto market, as it gradually assimilated Volvo’s technologies and designs.
“All eyes will now be on its ambitions to move up the value chain.”
Vehicle shipments jumped 89 per cent to 530,627 cars in the first half, smashing the national growth of 1.6 per cent.
In July alone, the Zhejiang-based car manufacturer, controlled by billionaire Li Shufu, reported an 88 per cent jump in sales. The company’s indigenous brands, including Boyue and Emgrand, recorded sizzling sales too.
Geely has set an annual sales target of 1 million cars for this year with plans to launch a first sports-utility vehicle (SUV), under its own mid-priced Lynk & Co high-end brand, which has been 50/50 jointly developed with Volvo.
Geely will launch the Lynk brand in the last quarter of this year.
“The joint development has the shared technology from Volvo,” An said. “The new brand will launch all necessary models such as ‘SUV’ models.”
Volvo’s owner Geely aims to sell 500,000 units of its new Lynk brand vehicles by 2019
Geely Auto’s shares have soared 157 per cent so far this year, and rose another 1.2 per cent in early afternoon trading to HK$19.22.
Morgan Stanley has forecast more modest 22 per cent annual sales rise through to 2019.
Geely’s multi-brand strategy had previously sparked uncertainty, but working closely in tandem with Volvo has proved a winning formula, backed up by a widespread dealership network, Morgan Stanley said, adding it believes the timing of Geely’s initiatives to tap into the mid- to high-end SUV segment perfectly matches the fast growth of segment, which expected to last for the next few years.
Lynk also plans to sell vehicles in the United States and Europe, after launching in China.
Earlier this month, Geely and Volvo set up a 50-50 joint venture, GV Automobile Technology (Ningbo), to strengthen their tie-up in technology development.
Geely founder Li Shufu said the joint venture would further promote even closer ties between the brands on shared vehicle architecture and electrification.
In June, Geely also acquired 49.9 per cent in Malaysian carmaker Proton, and 51 per cent of iconic British sports car marque, Lotus.
Geely first-half profit jumps 128pc spurred by Volvo technology and design | South China Morning Post
Net profit for the six months hits 4.3 billion yuan (US$643 million) on revenue of 39.4 billion yuan, which represented an 118 per cent jump
PUBLISHED : Wednesday, 16 August, 2017, 3:22pm
UPDATED : Wednesday, 16 August, 2017, 7:29pm
Daniel Ren Lam Ka-sing
Geely Automobile Holdings, the Chinese carmaker whose parent owns the Swedish car marque Volvo, has reported a thumping 128 per cent jump in after-tax half-year profit, driven by soaring sales, as it improved the design and engineering of its product range.
Net profit for the six months, ended June 30, was 4.3 billion yuan (US$643 million) on revenue of 39.4 billion yuan, which represented an 118 per cent jump. The earnings beat analysts’ estimates of 4.0 billion yuan.
And its president An Conghui said the automaker was equally upbeat for the remainder of the year.
“Our sales performance is continuously strong and our upcoming new models received very good market feedback. We’re confident in achieving a 10 per cent rise in full year sales volume target of 1.1 million units,” An added.
The company has not distributed any dividend, but starting from next year, it “should have a better chance of distributing an interim dividend and better full year end dividend,” added Gui Shengyue, its chief executive. “We have such good performance.”
Peter Chen, a Shanghai-based engineer with US components maker TRW, said: “Geely has emerged as one of the biggest winners among the domestic auto market, as it gradually assimilated Volvo’s technologies and designs.
“All eyes will now be on its ambitions to move up the value chain.”
Vehicle shipments jumped 89 per cent to 530,627 cars in the first half, smashing the national growth of 1.6 per cent.
In July alone, the Zhejiang-based car manufacturer, controlled by billionaire Li Shufu, reported an 88 per cent jump in sales. The company’s indigenous brands, including Boyue and Emgrand, recorded sizzling sales too.
Geely has set an annual sales target of 1 million cars for this year with plans to launch a first sports-utility vehicle (SUV), under its own mid-priced Lynk & Co high-end brand, which has been 50/50 jointly developed with Volvo.
Geely will launch the Lynk brand in the last quarter of this year.
“The joint development has the shared technology from Volvo,” An said. “The new brand will launch all necessary models such as ‘SUV’ models.”
Volvo’s owner Geely aims to sell 500,000 units of its new Lynk brand vehicles by 2019
Geely Auto’s shares have soared 157 per cent so far this year, and rose another 1.2 per cent in early afternoon trading to HK$19.22.
Morgan Stanley has forecast more modest 22 per cent annual sales rise through to 2019.
Lynk also plans to sell vehicles in the United States and Europe, after launching in China.
Earlier this month, Geely and Volvo set up a 50-50 joint venture, GV Automobile Technology (Ningbo), to strengthen their tie-up in technology development.
Geely founder Li Shufu said the joint venture would further promote even closer ties between the brands on shared vehicle architecture and electrification.
In June, Geely also acquired 49.9 per cent in Malaysian carmaker Proton, and 51 per cent of iconic British sports car marque, Lotus.
Geely first-half profit jumps 128pc spurred by Volvo technology and design | South China Morning Post
Menthol
SENIOR MEMBER
- Joined
- Aug 2, 2017
- Messages
- 4,196
- Reaction score
- 0
- Country
- Location
I read that China is actually made from a cheap car to luxury car, even supercar.
As China able to make mobile phone that rivaled iPhone and Samsung, as well as electronic and appliances. Not to mention China supercomputer is world no 1 with local made processor. How about Chinese car?
I think this is not a new news that top car sales in China is actually dominated by local brand.
Similar threads
