At first glance, it’s just a staffing change. Huawei is laying off Wang Jun. He headed the automotive operations and the self-driving car product division. A closer look, however, reveals the magnitude of the decision. Because Huawei sees the automotive business as a central pillar of its future business model. Also, because new and even […]
Thuringia was able to attract a showcase economic project to the region in the form of the Contemporary Amperex Technology Co., Limited (CATL) battery plant. The group is investing €1.8 billion, receiving just €7.5 million in subsidies and will employ around 2,000 people by the end of 2023. Production started at the beginning of February. […]
Chinese car manufacturers, who risk losing ground on their domestic market, are now creating another foothold in Russia. There, they are gaining massive market shares, even without producing more cars. They benefit from the fact that the Russian car market has collapsed and the Western competition has largely withdrawn. This allows them to get rid […]
The Chinese car market has recovered. In terms of unit sales, the Covid crisis, lockdowns and chip shortages have long been forgotten. In 2022, passenger car sales amounted to 23.6 million vehicles, according to the China Association of Automobile Manufacturers (CAAM). For this year, it forecasts a three percent increase to 24.3 million. By comparison, […]
The reports are piling up. Sometimes more, sometimes less prominent projects on the Chinese car market fail on a regular basis. In August 2022, for example, the driving service provider DiDi filed for bankruptcy. In September, Byton’s liquidator auctioned off a drivable prototype of the brand. By then, the production lines had long been at […]
Unconditional support seems to have been replaced by healthy skepticism. For a long time, the German government strongly supported the economic activities of German automakers in China. Members of the brands’ executive boards regularly accompanied politicians on their trips to the People’s Republic.But between politicians and corporate headquarters, the ideas of the best course for […]
The state of Lower Saxony owns twenty percent of Volkswagen. And thus voting rights in the Group. That is why the government sends two representatives to the 20-member supervisory board. Until now, they have been Minister President Stephan Weil (SPD) and Economy Minister Bernd Althusman (CDU). But in the recent Lower Saxony elections, voters elected […]
The time of annual reports for the 2021 financial year turned into one big party. Especially for German automakers. Measured by reported profits, it was the best year in the history of the DAX. Volkswagen presented profits of €19.3 billion (7.7 percent Ebit margin), Mercedes €16 billion (12 percent Ebit margin), and BMW generated €13.4 […]
It will happen this Friday. Then German customers will be able to buy the NIO ET7, an electric sedan. William Li, the brand’s founder, is expected to attend the launch event in Berlin’s Kurfuerstendamm. That is where one of the local NIO houses is located. For the billionaire, this is the last stop on his […]
The Porsche brand has two faces. One is the European one. Here, the automaker is known for its sports cars, and is associated with a lot of horsepower and the 911 model. Then there is the Chinese angle. There, Porsche is an SUV producer beloved by the young Generation Z. That affects vehicle development. The […]