Volkswagen EVs 'can't keep up' in China, CEO tells newspaper

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China's BYD opens first EV factory in Southeast Asia
STORY: Step inside BYD's first electric vehicle plant in Thailand.It's part of the Chinese automaker's plan to expand in Southeast Asia, where BYD has become the dominant player.BYD CEO and President Wang Chuanfu."We are convinced that Thailand will have a golden development period for new energy vehicles. China and Thailand are geographically close, culturally close, and economic and trade cooperation is booming. New energy vehicles are not only a bridge between China and Thailand to enhance friendship, but also a link between BYD and Thailand."Thailand is a regional auto assembly and export hub.The country aims to convert 30% of its annual production of 2.5 million vehicles into EVs by 2030.Chinese EV makers clearly like the lure of the Thai government's subsidies and tax incentives.They've invested more than $1.4 billion setting up factories in the country, with BYD's new plant the latest addition.The sprawling facility is worth $490 million.And it will have a production capacity of 150,000 vehicles per year, including plug-in hybrids."It will provide over 10,000 jobs after reaching full capacity."As part of its expansion outside China, the world's largest EV maker is also building its first European production base in Hungary.Although BYD could feel some pain in that particular market.The European Commission has imposed tariffs of up to nearly 38% on Chinese-made EVs.
AFP News
EU slaps Chinese electric cars with tariffs of up to 38%
The European Union on Thursday slapped extra provisional duties of up to 38 percent on Chinese electric car imports because of Beijing's "unfair" support, a move that risks escalating tensions with Beijing.- Expected cut to imports - The United States has already hiked customs duties on Chinese electric cars to 100 percent, while Canada is considering similar action.
The Telegraph
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Reuters
Volvo Cars' June sales rise on fully electric model boost
Volvo Cars' sales in June rose 8% to 71,514 cars from a year earlier, underpinned by strong performances in Europe and Latin America as well as for its new fully electric model EX30, the Sweden-based automaker said on Thursday. Volvo Cars, which is majority-owned by China's Geely Holding, said in a statement that sales of fully electric and plug-in hybrid models were up 41%, and also account for 48% of its global car sales. "As June comes to a close, the sales figures for the month are proof of the successful steps we have taken toward our long-term strategic direction and the continued demand for our cars," the company.
NextShark
74-year-old woman dies after being shoved in front of San Francisco train
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The Daily Beast
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Joyce Chen confirms she has become a mother
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Biden ‘seriously considering’ leaving election race
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Beijing is laughing at the West’s weakness
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9 out of 10 voters say there are important differences between Biden and Trump. Here’s what they see as the biggest ones
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Cristiano Ronaldo accused of ‘ambush marketing’ after wearing £230 smart wristband
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Volkswagen EVs 'can't keep up' in China, CEO tells newspaper

Latest stories

China's BYD opens first EV factory in Southeast Asia

EU slaps Chinese electric cars with tariffs of up to 38%

Electric car sales sink again as industry calls for tax breaks

The Fastest Growing Automotive Brand in the World

Volvo Cars' June sales rise on fully electric model boost

74-year-old woman dies after being shoved in front of San Francisco train

Conservatives Routed in Worst Election Result for 200 Years

Joyce Chen confirms she has become a mother

Biden ‘seriously considering’ leaving election race

Beijing is laughing at the West’s weakness

These flight routes suffer the world’s worst turbulence

The UK is about to get a new prime minister — someone Obama has been mentoring for months

9 out of 10 voters say there are important differences between Biden and Trump. Here’s what they see as the biggest ones

Horrifying moment husband wheels suitcase containing murdered wife from home while carrying child

"It Was The Worst Betrayal I Have Ever Experienced": People Are Revealing The Shocking Reason Why They Don't Speak To Their Sibling Anymore

Singapore is trying to be a wealth hub. Now 6 family offices that got tax breaks are tied to the nation’s biggest money-laundering case

Rod Stewart, 79, rocked by shock divorce news: report

I went inside a hidden room where flight attendants sleep on long-haul flights. I was amazed by its small size and comfy beds.

Cristiano Ronaldo accused of ‘ambush marketing’ after wearing £230 smart wristband

Bikinis, sheer 'fits and hotel robes: Alix Earle nails the Italy holiday wardrobe