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Gas or electric? Splitting the difference could energize Chinese automakers

LivemintLivemint · 1y ago
Gas or electric? Splitting the difference could energize Chinese automakers
Medial

The growing popularity of plug-in hybrids (PHEVs) could impact companies and investors banking on rising demand for electric vehicle (EV) batteries. PHEV sales have outpaced pure EV sales, especially in China, where PHEVs now account for 42% of new-energy car sales. The appeal of PHEVs lies in their ability to save on fuel costs without range anxiety, as they offer the flexibility of using electricity or gasoline. Chinese automakers are also producing more affordable PHEV models with longer driving ranges, making them appealing in developing countries with inadequate charging infrastructure. However, PHEVs may cannibalize demand for pure EVs and pose potential challenges for battery manufacturers.

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Decision time for GM in China: Stay, scale back or go

LivemintLivemint · 10m ago
Decision time for GM in China: Stay, scale back or go
Medial

- General Motors (GM) is struggling to regain its market share in China despite introducing new models, such as the electric Cadillac Lyriq. - GM's market share in China has shrunk, leading to calls for the company to scale down or withdraw from the Chinese market. - Foreign automakers, including Volkswagen and Toyota, are facing similar challenges in China as Chinese consumers are increasingly favoring local brands that offer advanced technology and competitive pricing. - GM's CEO, Mary Barra, has expressed the company's commitment to continue operating in China, despite the difficulties. The company has announced plans to restructure its business in the region. - To address the challenges in China, GM could consider closing factories, reducing the number of models, and establishing partnerships with domestic EV makers. - The shift to electric cars in China has been described as a "seismic shift," and GM acknowledges that it could have managed the EV transition better in the country. However, there is still potential for growth in the luxury market.

Thousands of Chinese EVs Clog Up Brazil’s Ports in Slowdown

LivemintLivemint · 7m ago
Thousands of Chinese EVs Clog Up Brazil’s Ports in Slowdown
Medial

Brazilian ports have become congested with unsold Chinese electric vehicles (EVs), signalling challenges for China's automakers and their global growth ambitions. Companies like BYD and Great Wall Motor have found success in Brazil, which is the world's sixth-largest auto market, but are now facing increasing competition, slowing EV growth rates, and the reintroduction of import tariffs. To maintain market share and push back against domestic manufacturers, BYD flooded Brazil with vehicles ahead of the tariffs. However, finding new customers for EVs in a country with limited charging infrastructure remains a challenge. BYD and Great Wall Motor are planning to open factories in Brazil to speed up adoption. Other Chinese automakers are also expanding into Brazil due to tax barriers in Europe and the US. Established automakers such as Volkswagen, Toyota, and Renault have announced considerable investments in hybrid vehicles in Brazil.

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