Chinese carmakers are stepping up efforts to develop smart and connected cars, with the conviction that vehicles of the future should be more than just the tools of transport that they were in the past.
Beijing Automotive Group Co, the Chinese partner of Hyundai Motor Co and Daimler AG, is betting that developing SUVs and new energy cars is the best way to achieve growth of its brands.
Great Wall Motor Co unveiled its all-new brand of Ora electric vehicles last week, marking the first step taken by China's biggest SUV maker into the electro-mobility that is gaining momentum across the globe.
Japanese carmakers intend on building more plants in China in order to increase production capacity and expand their businesses in the largest auto market worldwide.
Tesla Inc Chief Executive Elon Musk said late on Friday he would heed shareholder concerns and no longer pursue a $72 billion deal to take the luxury electric carmaker private, abandoning an idea that stunned investors and drew regulatory scrutiny.
Following a slump in June, China's vehicle imports soared in July, mainly as a result of tariff cuts for models made in countries except the United States, and analysts said they expect an upward trend for the whole year.
China has the world's largest new energy car market, with nearly 800,000 units sold last year, but GAC New Energy Automobile Co said there is a long way to go before players in the country should consider how to slice the cake.
Nio and Faraday Future, two well-known electric vehicle startups, have stirred up controversy with their bold business plans, which analysts say are more targeted at success in the capital market than the car market.
When General Motors Co engineers were developing the 2019 Chevrolet Silverado and GMC Sierra pickup trucks, some of them joined public tours of Ford Motor Co's Dearborn, Michigan factory in the United States to watch aluminum-bodied F-series trucks go down the assembly line.
Volkswagen AG's namesake brand will not alter its nascent SUV strategy tailored for the Chinese market, according to a senior executive, although the segment has shown signs of losing steam in the past months.
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Raymond Zhou
Op Rana
Berlin Fang
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Huang Xiangyang
Chen Weihua
