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...This shift will have major ramifications for both the auto industry and the energy sector.”...
...“China has built an industry that can produce excellent cars at truly remarkable price points almost all through the range of products,” said James Anderson, a managing partner at Lingotto Investment Management...
...defied gravity, it has never behaved like a car company,” he said, but then added: “Suddenly it starts to look like it’s not immune from the same demand cycles and dynamics that affect the rest of the car industry...
...Cui Dongshu, secretary-general of the industry body, projected a 22 per cent surge in Chinese sales of NEVs in 2024....
...The automotive industry nonetheless expects EVs to become dominant in time as governments push to decarbonise road transport....
...The established auto industry has been warning for months that mainstream buyers remain sceptical of electric cars because of their higher prices and need to recharge....
...“Tesla was an anomaly in the car industry,” said one former executive at the company and a car industry veteran. “But today it’s behaving more like a car company....
...Yet BYD’s recent rise has surprised many in the industry. This is partly because growth accelerated during the Covid-19 pandemic, when China’s borders were shut....
...But pick-ups take it into the industry’s real gold mine....
...electric-car maker is expanding factories globally as it heads towards an unofficial target of making 20mn cars a year by the end of the decade — an ambition that would see it become larger than current industry...
...The number of listed UK dealerships has been whittled down to just three, Pendragon, Vertu and the much smaller Caffyns, as the industry has consolidated....
...The way Tesla is making cars “is quickly moving to become an industry standard”, said one senior executive at a European automaker....
...As Peter Campbell laid out in the Financial Times yesterday: The global auto industry manufactured 10.5mn electric vehicles last year — and expects to produce 13.5mn this year . . ....
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...(He will “immediately” hold an investor vote on shifting the company’s corporate registration from Delaware to Texas, as my colleagues William Sandlund and Peter Campbell report....
...Additional reporting by Peter Campbell in London...
...Smart read The boss of French car giant Stellantis has warned that an electric vehicle price war risks creating a “bloodbath” in the auto industry, report Steff Chávez and Peter Campbell....
...Behind the scenes, discounting by stealth has crept into the industry....
...Philippe Houchois, an analyst at Jefferies, said the French carmaker was often seen as a “weak link” in the industry, with lower margins than many of its peers....
...Tesla has an unofficial target of selling 20mn vehicles a year by 2030, an ambitious goal that would make it larger than industry leaders Toyota and Volkswagen combined....
...The Cap HPI data is for the UK, one of Tesla’s largest markets, but the US group’s cars have also experienced steep depreciation in other countries, according to industry executives....
...I would say it’s being in the auto industry.” The company now was emphasising “design for manufacturability”, he said....
...However, the broader film industry is having its healthiest year since 2019. There will be 42 “summer movies” in wide US release this year, compared with just 22 last year and just one in 2020....
...Lantink’s work has been acquired and shown by museums, including London’s V&A and the Costume Institute at New York’s Metropolitan Museum of Art, while celebrities such as Beyoncé, Billie Eilish and Janelle...
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