Short Torque

BMW announces top management reshuffle

BMW said Thursday that its production chief Oliver Zipse will replace Harald Krueger as chief executive in August, as the German auto giant looks to accelerate its transition to electric cars. Krueger, who had been criticized for not steering the group quickly enough toward electric technology, said earlier this month that he would not seek another term when his current office runs out next April. However, BMW's supervisory board said in a statement on Thursday that Zipse will take his place on August 16.

Volvo's strong sales buck global market trend

Volvo Cars, the Swedish luxury brand owned by China's Geely, defied a slowing global auto market to set a record for sales in the first half of the year, although US trade war tariffs and falling prices squeezed profits. The 7.3 percent year-on-year jump to a record 340,286 cars during the first half of the year was accompanied by a 5.9 percent rise in sales revenue to 130 billion Swedish krona ($13.9 billion). "At a time when most markets in the world see stagnating car sales, we have had strong growth in the first half," Chief Executive Hakan Samuelsson was quoted as saying in a statement.

JV expands Jiangling's electric potential

Chinese automaker Jiangling Motors and Renault announced the establishment of a joint venture on Wednesday to further promote their strategic layout in China's new energy vehicle market. Renault took a 50 percent stake, with an investment of 1 billion yuan ($145 million), of Jiangling Motors Group New Energy Automobile. The cooperation with Jiangling on new energy business will help support Renault's future development in China, said Francois Provost, senior vice-president, chairman of the China region of Groupe Renault.

Renault hit by slowdown but remains optimistic

Renault hit by slowdown but remains optimistic French auto giant Renault said Tuesday its first half sales were hit by a slowdown in several emerging countries but overall it managed to hold its own in a weakening global market. Sales were down 6.7 percent from a year earlier to 1.94 million vehicles, it said, citing problems in Iran due to United States' economic sanctions, and in Argentina and Turkey. That equated to a 4.4 percent share of the global auto market. Renault sales director Olivier Murguet said despite the fall, the company was confident the second half of 2019 would be better.

Smart tech a hit at expo in Changchun

The 16th China (Changchun) International Auto Expo is seeing a variety of auto brands displaying technologies such as autopilot, remote control and augmented reality displays. The expo was held in Changchun, capital of Jilin province, where visitors have been crowding booths to try the smart technologies. At the SAIC Motor booth, many visitors experienced the voice-control feature of the manufacturer's latest smart car. "You only need to talk to the car's operating system to control the sunroof, air conditioner and navigation system," said Han Lei, an employee at the booth.

Seres denies scale of Silicon Valley layoffs

Chinese electric vehicle startup Seres, formerly known as SF Motors, on Tuesday denied it has fired 90 employees at its Silicon Valley office, saying only 47 jobs were cut across the United States. Seres CEO James Taylor said the job eliminations included 17 positions at the Silicon Valley office and about 30 at the company's Mishawaka assembly plant in Indiana, which "represent the necessary adjustments to respond to our new business plan and evolving market conditions." He said Seres has decided to delay the launch of the production version of the SF5 crossover in the US market.

Motoring - Agencies

(China Daily 07/22/2019 page19)