UK government plans to lower electric car sales targets from 80% to 50% by 2030 have drawn strong criticism from the charging industry and EV brands. Critics argue this move, influenced by manufacturer and union lobbying, will harm investment, jobs, and the UK's automotive future, potentially benefiting Chinese manufacturers.
BYD, the Shenzhen-based EV maker, has seen a strong rebound in overseas deliveries, surging 76% year-on-year to nearly 300,000 units in April and May. This recovery, driven by rising oil prices due to the US-Israel war with Iran, has bolstered founder Wang Chuanfu's ambition to become the world's largest carmaker by 2030.
Italy's Ministry of Enterprises and Made in Italy has approved a €1.34 billion fund to support the automotive sector's productive investments, R&D, and innovation. The DPCM "Automotive" also includes incentives for sustainable mobility and commercial vehicle fleet renewal, aiming to boost competitiveness against Asian rivals.
Mercedes-Benz CEO Ola Källenius stated the company is open to supporting Europe's defense efforts amid a more unpredictable world. While no concrete plans exist, any involvement would be a small, complementary activity to its core automotive business. Other German automakers like Volkswagen are also exploring defense production, while defense firms like Rheinmetall consider converting auto plants.
Beijing’s tighter oversight of vicious price competition in the automotive sector is expected to increase borrowing pressure on mainland carmakers and accelerate the exit of weaker, debt-laden players amid softening consumer demand, according to S&P Global Ratings. The warning is likely to deepen bearish sentiment surrounding mainland China’s more than 100 car assemblers, many of which have been at the forefront of global electric vehicle (EV) technology and production. “Financially fragile...
Diesel engine manufactured by Kamaz are being used at present not merely in the automotive sector but also in agricultural machine-building, at diesel locomotives and in the energy sector, Sergey Kogogin said
