Detroit, USA, July 6, 2024 – Ford Motor Company has reported impressive growth in electric vehicle sales in its latest quarterly sales figures, trailing only industry leader Tesla. This marks significant progress for Ford in the electric vehicle market, showcasing ongoing efforts and achievements in transitioning to an electric vehicle manufacturer. According to Ford’s report, electric vehicle sales surged in the second quarter, particularly highlighted by strong performances from flagship models such as the Ford F-150 Lightning and Mustang Mach-E. These models not only gained widespread consumer acclaim but also achieved record sales in the market. Ford CEO James Farley stated, “We are very proud of our performance […]
On July 4, local time, the European Commission issued a notice saying that it had decided to impose temporary countervailing duties on imports of electric vehicles (BEVs) from China after a nine-month countervailing investigation into BEVs. The temporary tariffs apply to some Chinese automakers, including a 37.6% increase on SAIC, 19.9% on Geely, and 17.4% on BYD; an average of 20.8% for other automakers that cooperated with the EU investigation, and 37.6% for those that did not. Compared with the data disclosed by the EU on June 12, the tariff rate determined this time has been slightly reduced. […]
McLaren Automotive CEO Michael Leiters said that the UK needs to recognize that it cannot compete on the cost of mass-produced cars and should instead focus on driving the manufacture of high-value cars, according to Automotive News Europe. Speaking at a conference organized by the Society of Motor Manufacturers and Traders (SMMT) in the UK, Leiters said, “If we try to compete on cost and come out on top, we will fail. This doesn’t just apply to carmakers, it applies to the supply chain as well.” McLaren is encouraging the UK government […]
On July 5, SAIC released a news release saying that in order to effectively safeguard its legitimate rights and interests and the interests of global customers, it will formally request the European Commission to hold a hearing on China’s temporary countervailing duty measures on electric vehicles, and further exercise its right of defense in accordance with the law. On June 12, the EU announced plans to impose temporary tariffs on Chinese electric vehicles and issued a preliminary ruling information pre-disclosure, in which the subsidy rate of SAIC was calculated to be 38.1%. on July 4, the European Commission formally announced […]
VinFast, the Vietnamese automaker renowned for its innovative approach to electric vehicles (EVs), is contemplating a strategic move into the Indian market with plans to manufacture electric cars. This expansion initiative aims to capitalize on India’s burgeoning demand for sustainable mobility solutions and marks a significant step in VinFast’s global expansion strategy. With India emerging as a pivotal market for electric vehicles due to increasing environmental awareness and government incentives, VinFast’s potential entry promises to introduce advanced automotive technology and enhance competition in the sector. The move aligns with VinFast’s commitment to revolutionizing urban mobility through cutting-edge EV designs and sustainable manufacturing practices. VinFast’s consideration of establishing a […]
In a landmark projection, industry analysts foresee Chinese automakers seizing a commanding 33% share of the global automotive market by the year 2030. This ambitious growth target underscores China’s rapid ascent as a powerhouse in the automotive industry, driven by technological innovation, robust domestic demand, and strategic global expansions. With China already standing as the world’s largest automotive market, surpassing traditional leaders such as the United States and Europe, its automakers are poised to further capitalize on this momentum. The projected increase in market share reflects a concerted effort by Chinese companies to enhance product quality, expand electric and autonomous vehicle offerings, and strengthen their global footprint through partnerships and […]