Electric Vehicles

Autos take driver’s seat in China’s new economy

19 Sep 2024

Beijing wants carmakers to reserve overseas factories for final assembly of vehicles. It will slow tech transfers like those that helped the People's Republic get ahead in the industry. Slowing GDP growth is making China protective of companies as they expand overseas.

China wins only token victory in EU car wars

13 Sep 2024

Spanish PM Pedro Sanchez wants Europe to drop duties on Chinese EVs, suggesting the Middle Kingdom’s plan to turn member states is working. But blocking the levy will be legally tricky, and Brussels’ credibility is at stake. Beijing faces a long road to upend the union’s plans.

Norwegian dreams fuel China’s electric-car bulls

10 Sep 2024

Nio boss William Li says the country could soon resemble Norway, where pure battery-powered models accounted for 94% of sales last month. Though the People’s Republic does share some similarities, a price war and a fad for hybrids mean not all roads lead to Oslo.

China’s global battery ram will be hard to stop

6 Sep 2024

The US and EU have erected tariffs to limit imports of electric vehicles. The People’s Republic has an even bigger lead in batteries. New tech gives rivals a chance to muscle in, but Chinese cellmakers’ head start means resisting giants like $115 bln CATL will come at a cost.

VW row flags Germany’s creaking corporate model

5 Sep 2024

The $55 bln carmaker is battling unions as it tries to deepen a $11 bln cost-cutting programme. A complex shareholder base makes agreement harder. Such feuds are becoming more common as German consensus-driven governance faces a weak economy, trade wars and climate change.

India convincingly overcomes its IPO demons

14 Aug 2024

Cautious pricing is paying off. E-bike maker Ola surged on its debut and e-commerce platform Brainbees jumped 46%. The success by the unprofitable SoftBank-backed firms clears the way for big deals that will help the country retain Asia's IPO crown as other venues falter.

Elon Musk’s bully pulpit is coming into focus

13 Aug 2024

The Tesla boss’ two-hour online chat with Republican candidate Donald Trump was a mess. Yet it shows how his web of infrastructure-like businesses, from rockets to energy storage, hold growing sway in the political arena. The result may be a less-than-virtuous cycle.

Volkswagen’s restart faces further roadblocks

1 Aug 2024

The bloated $56 bln German carmaker is cutting costs further, as it tries to hit bold profit targets. CEO Oliver Blume’s 6.3% operating margin is better than it looks. But Chinese competition and stringent carbon targets make for a tricky road ahead.

Carmakers strain to navigate the next swerves

1 Aug 2024

After responding to the unexpected success of $720 bln Tesla, older manufacturers now face rising China exports amid slower EV growth. In this Viewsroom podcast, Breakingviews columnists discuss how GM, VW and others – including governments – are handling the nascent trade war.

Ola down round will worry India’s IPO hopefuls

30 Jul 2024

The SoftBank-backed e-scooter maker wants to go public at a valuation up to $4 bln, a quarter lower than when it last raised money. It's a sign that investor patience towards unprofitable tech stars is running thin. Upstarts eyeing a debut, like Swiggy, will be paying attention.

Japan’s auto rally betrays global EV anxiety

29 Jul 2024

Shares of Mitsubishi, Nissan and Honda rose on a mooted three-way alliance despite a dearth of details. The trio’s success will depend on how well they can use that scale to cut costs as the race to develop smarter, cleaner cars jeopardises the industry's profitability.

Chinese EV IPO drives a precarious line in Asia

26 Jul 2024

Hozon may raise $1 bln in Hong Kong to finance a regional expansion. Countries like Thailand and Indonesia hold even more appeal for the Neta maker and rivals like BYD as the EU and US erect roadblocks. But pushing hard into small markets risks rapid saturation and a backlash.

Carmakers drive efficiency hopes into a ditch

25 Jul 2024

The shares of carmakers Nissan and Stellantis fell around 7% after weak results. The tough US market is hurting sales, erodes the European group’s high margins and hinders its Japanese peer’s turnaround. Unsold cars and cautious consumers mean any recovery will take time.

Donald Trump might be bad for EVs, good for Tesla

23 Jul 2024

The electric-car giant’s US sales are down and rivals are rising. Yet boss Elon Musk has thrown in with Trump, whose vow to end government support could crimp EV sales by 27%. Thing is, that hurts others more. For Tesla, maintaining dominance as it pushes beyond cars matters.

China’s EU-made EVs are in pole position – for now

19 Jul 2024

BYD and Chery are planning plants in the European Union; peers will follow. While factors like labour and energy add 25% to the cost of cars made in the bloc, tech and design mean the overall product is cheaper than Western rivals’. But Brussels could yet complicate matters.

Tariffs offer poor airbag for Europe’s carmageddon

15 Jul 2024

Volkswagen, Renault and others still have miserable valuations despite Brussels threatening China with penalties on electric-vehicle imports. The duties may not be big enough, and could even hurt Western players. Possible fixes, like rowing back on carbon targets, look tricky.

EU’s China trade weak spots hide in plain sight

9 Jul 2024

Beijing may retaliate after Brussels imposed tariffs on Chinese-made electric vehicles. Of the 5,000 product groups the People’s Republic imports from the EU, many are too crucial or too small to bother with. But luxury goods, petrol cars and some foods are plausible targets.

BYD’s overseas road trip offers EU new tariffs map

9 Jul 2024

The $94 bln EV maker has just opened a factory in Thailand and is spending $1 bln to build one in Turkey. Both countries agreed preferential terms for Chinese carmakers’ imports in exchange for local production. These deals might inspire Brussels to re-engineer its own policies.

VW and Rivian wheel out a more practical EV model

26 Jun 2024

The German carmaker is investing up to $5 bln in its smaller US rival and a new JV to develop software. Many such tie-ups have ended badly, but in this case it’s more than just funding a flashy but cash-burning newcomer. The big incumbent here gets access to proven technology.

China has an incentive to keep road to Europe open

26 Jun 2024

Beijing agreed to start talks with the EU on the bloc's planned tariffs on China-made EVs. Carmakers can survive but the issue represents a larger threat. It would hurt the $18 trln economy to add a full blown trade war with the EU to its escalating one with the United States.