Toyota Motor plans to begin electric vehicle (EV) production in Europe by 2028, marking a significant expansion of its global EV manufacturing strategy. The company announced that its subsidiary in the Czech Republic will produce approximately 100,000 EVs annually, making it Toyota's first EV production hub in Europe and its fourth globally, following facilities in Japan, the US, and China.
BYD, long China's undisputed leader in new energy vehicles (NEV), recently hit an unexpected bump in the road, one that may reshape the industry's competitive landscape: the Chinese government is planning to intervene in BYD's aggressive pricing strategy. While domestic rivals initially appeared to benefit from BYD's troubles, many are now watching the rise of Huawei with heightened interest.
Tesla's financial challenges deepened Wednesday with a sharp drop in second-quarter earnings and revenue, underscoring a tough year marked by falling sales, brand challenges, and growing competition.
Chinese automakers have emerged as a global force, commanding attention from policymakers and industry leaders worldwide. After initial resistance in the US and Russia, China has turned its focus to Europe, its first major testing ground for global expansion.
