The European Union initiated a sweeping investigation into Chinese EVs in October 2023, imposing additional tariffs based on automaker compliance levels. BYD and Geely Auto face tariffs of 17% and 18.8%, respectively, while SAIC encounters a steeper 35.3% rate, according to the latest findings.
Chinese automakers, including NIO, XPeng Motors, BYD, and Taiwan's Foxconn, are reportedly exploring partnerships with cash-strapped Nissan, leveraging its global distribution networks to enter the US market, according to Japanese supplier Ibiden via Chinese media.
Taiwan's Sanyang Motor (SYM) and the Industrial Technology Research Institute (ITRI) have reached a significant milestone in their joint hydrogen fuel cell motorcycle project, successfully completing a key road test.
Nissan and Honda, two of Japan's automotive giants, are set to hold merger talks on December 23, 2024. Renault, Nissan's largest shareholder and a French automotive leader, is reportedly open to the proposed merger, signaling a pivotal moment for the Japanese automakers.
Germany and Japan have built powerful automotive manufacturing industries over decades, establishing global dominance with brands like Toyota, BMW, Mercedes-Benz, Volkswagen, Nissan, and Honda. However, the rapid rise of China's electric vehicle (EV) industry is now transforming an automotive sector that has remained stable for decades.
The landscape of Japan's automotive industry faces potential reshaping as Honda and Nissan explore integration possibilities, complicated by Foxconn's reported interest in acquiring Nissan shares. This development could significantly impact both automakers' strategies in addressing the competitive electric vehicle (EV) market landscape.
Chinese carmakers are rumored to be targeting financially troubled Nissan as a means of indirect entry into the US market. Rumors have also pointed to Foxconn as a possible suitor for an acquisition or potential joint control with a Chinese company.
The European Union has imposed anti-subsidy tariffs on Chinese battery electric vehicles (BEVs), reaching nearly 50%, forcing NIO to consider aligning its prices with luxury automakers like Porsche. NIO CEO William Li indicated the move is unavoidable as the company grapples with rising costs and dwindling incentives.
Foxconn is reportedly eyeing a significant investment in Nissan Motor with aspirations to take over the company's operations, potentially accelerating ongoing merger discussions between Nissan and Honda Motor.
In a strategic move to consolidate resources against mounting competition in the electric vehicle market, Honda and Nissan have begun discussions about a possible merger, which would involve establishing a holding company to integrate both as subsidiaries, with the potential inclusion of Mitsubishi Motors.
Taiwanese electric scooter maker Gogoro's challenges this year have been mounting. It has faced prolonged scrutiny over production origins, and in September, founder Horace Luke departed, with Henry Chiang stepping in as acting CEO and Tamon Tseng from Ruentex Group taking over as chairman. Adding to the turmoil, reports of layoffs emerged recently, shedding light on deeper organizational issues.
Chinese automakers, led by BYD, are leveraging hybrid electric vehicles (HEVs) to strengthen their foothold in the European market, where the European Union's (EU) increased tariffs on Chinese-made electric vehicles (EVs) notably exclude HEV systems.
Ji Yue Auto's sudden collapse has jolted the industry, marking a sharp and unceremonious shift in Baidu's automotive ambitions. Once the tech giant's symbol of its car-making aspirations, Ji Yue's overnight downfall signals Baidu's potential retreat from the automaking arena. The move highlights the mounting difficulties of sustaining vehicle production in a sector notorious for high risk and heavy investment.
Given the current competitive landscape among Chinese automakers, it is not surprising that new entrants face challenges in vehicle manufacturing. However, Ji Yue's recent turmoil seems to have inadvertently provided an opportunity for its competitor, Xiaomi, especially since CEO Jun Lei had previously boasted about ensuring 18 months' worth of salaries for employees, drawing renewed attention from the public.
The Thailand International Motor Expo 2024 showcased 43 brands from nine regions, highlighting Chinese automakers' dominance in the EV sector. Chinese brands capitalized on growing EV demand, reshaping Thailand's automotive market and export strategies.
Global automotive sales, including new energy vehicles (NEVs), are projected to underperform initial expectations in 2024, yet the market maintains an upward trajectory. Facing growing uncertainties in 2025, Taiwanese supply chain firms are leveraging diversified strategies—spanning traditional vehicles, NEVs, and global markets—to capitalize on emerging opportunities.
Jiyue Auto, the automotive startup co-founded by Baidu and Geely, is on the brink of collapse. CEO Joe Xia, in a letter to employees dated December 11, admitted the company faces severe challenges and requires urgent restructuring. Reports indicate that salary benefits for some employees have been suspended, fueling fears of widespread layoffs.
The European Union's newly imposed tariffs on Chinese electric vehicles (EVs) are sending a ripple of concern through the global auto industry. In response, BYD, the top EV manufacturer in China, has announced plans to manufacture its Dolphin and Atto 3 models in Europe by 2025, a move aligned with its global expansion strategy.
China's domestic electric vehicle (EV) sales have maintained a penetration rate of over 50% for four consecutive months, reflecting strong growth in the domestic market, according to the China Association of Automobile Manufacturers (CAAM) on December 11. However, exports of pure EV have shown worrying signs, with only 58,000 units shipped in November—a month-on-month decrease of 43.8% and a year-over-year decline of approximately 29.2%. The drop is believed to be linked to the European Union's recently imposed heavy tariffs on Chinese EVs.
The European automotive supply chain encountered significant hurdles in 2024 as electrification demand fell short of expectations, leading to low investment returns and widespread cost-cutting measures. Companies have scaled back expansion plans and implemented layoffs, with uncertainty surrounding future orders and potential financing difficulties looming in 2025.
Tesla has reportedly rekindled its interest in the Indian market by resuming its search for showroom space in New Delhi. Having paused its investment plans earlier this year, the electric vehicle giant is currently in early-stage talks with DLF to secure prime locations in the capital region.
China's automotive sector is witnessing a strategic shift from new energy vehicles to intelligent driving technology in 2024. At the forefront of this transformation is Huawei, whose advanced driving systems, powered by its revitalized self-developed chips, are gaining significant market traction. Leading this momentum is AITO, a key Huawei partner, which has posted record sales of new energy vehicles this year.
Kia Corporation has made bold moves in EVs, solidifying its position as one of Taiwan's fastest-growing automotive brands. Marking a milestone, Kia hosted its inaugural "Kia EV Day" in Taiwan, showcasing its strategic success under Calvin Lee,Managing Director of Sime Darby Kia Taiwan.
The global EV market is rapidly expanding, particularly in China, driven by affordable models and government support. While Europe and the US face slower growth due to various factors, China's dominance continues to increase. Taiwan's automotive industry, leveraging its robust ICT sector, focuses on smart vehicle technologies to capitalize on this growing market.
