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...Few things define the country’s hopes for the future as neatly as this single technology and everything it could potentially carry with it, especially in an industry as central to the nation’s sense of itself...
...Elon Musk’s decision to lower the price of Tesla vehicles in China in late 2022 sparked savage price cuts across the auto industry, leading to squeezed margins for both legacy multinational auto groups in...
...But there remained a risk that labour disputes in the auto sector could “snowball” and draw the attention of the central government in Beijing....
...China’s auto exports hit a record 4.9mn last year, up from 1.1mn the year prior, as the nation overtook Japan as the world’s biggest car exporter....
...Autos are just one part of a wider industrial framework within which, for decades, developed economies have relied on China as an inexpensive and collaborative manufacturing hub....
...Analysts said the ongoing price war in China’s auto market could lead to a vicious cycle. “In the case of China, when the price is lower, people think, ‘wait a minute....
...A version of this article was first published by Nikkei Asia on February 7. ©2024 Nikkei Inc. All rights reserved....
...The vote is a setback for Elon Musk, five years after he stunned the German auto industry by announcing he would build his first gigafactory in Europe next to Berlin, throwing the gauntlet to an industry...
...Meanwhile, car insurance and auto repair shot up 2 per cent and 3 per cent, respectively, in March....
...People familiar with Geely’s thinking say the company could easily raise needed finance through debt markets....
...Fitch also forecast that general government debt — which covers local and central government borrowing — would rise to 61.3 per cent of GDP in 2024, up from 56.1 per cent in 2023, primarily due to fiscal...
...Corporate finance nerds like myself tend to think of deploying excess capital in a simple, quantitative way....
...“The US is the world’s biggest consumer of stuff; China is the world’s biggest producer of goods,” said Robin Brooks, former chief economist at the Institute of International Finance....
...Nio co-founder and chief executive William Li was greeted like a rock star by tens of thousands of devoted fans on Saturday night as he took to the stage at the Olympic stadium in Xi’an, China’s ancient central...
...The next European Commission will need to look at more difficult ideas such as auto-enrolling workers in a private pension....
...Monetary policy: New Zealand’s central bank announces its cash rate decision. G20: Finance ministers meet in São Paulo, Brazil to prepare for the annual presidential summit in November....
...But the central Chinese city might now be on the cusp of global recognition for a different reason: boasting the world’s biggest fleet of cars that drive themselves....
...Once the BoJ is no longer the sole major central bank still locked in ultra-loose mode, runs the argument, a revaluation of the yen will come due....
...Daniel Roeska, an auto analyst with Bernstein, said that consumers had perceived a “chasm” between the industry leaders — Tesla and BYD — and the “traditional [original equipment manufacturers]” such as...
...For Musk, challenging established ways of doing things is central to his modus operandi....
...While local governments such as Shenzhen are eager to increase exports to support the local economy, China’s central government has indicated the country should take a more cautious approach....
...That would leave UK inflation above the Bank of England’s 2 per cent target, which may help persuade the central bank not to make extensive rate cuts this year....
...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....
...The company is expanding among a clutch of Chinese auto groups in Europe, with plans to launch a cheaper brand in the region in 2025....
...However, in July control of the company was handed over to a “temporary governance” working group, led by co-founder Fu and former Chinese central banker Zhu Xiaohua....
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