GAC Honda to absorb export-focused subsidiary, adding capacity by 50,000 cars per yea

Posted on 2020-03-30

GAC Honda, a joint venture between Chinese automaker GAC Group and Japan-based Honda, on March 29 announced it will absorb its wholly-owned subsidiary, Honda Automobile (China) Co.,Ltd. (CHAC), expecting to enhance its resource utilization and operational efficacy. Effective April 1, 2020, the absorption renames the subsidiary as GAC Honda Guangzhou Development District, which works as GAC Honda’s fourth complete vehicle assembly line. The other existing three are located at Huangpu and Zengche..   [ read more ]

Shenzhen to issue policy on promoting passenger-carrying ICV trial operation

Posted on 2020-03-28

Shenzhen is soliciting public opinions on the draft guidelines on promoting application and demonstration of ICVs (the Guidelines), which will allow self-driving cars to carry passengers and freight on certain areas. The Guidelines, jointly issued by local authorities of transport, development & reform, industry & information technology, and traffic police, clearly states that the trials and practical applications of ICVs will be encouraged in semi-closed independent functional zones, s..   [ read more ]

China Q1 auto sales projected to drop 45% if coronavirus effectively controlled by Mar.

Posted on 2020-03-20

China's auto outputs and sales are projected to slump 45% year on year in the first quarter (Q1) if the coronavirus epidemic is effectively contained by the end of March, and slide 25% for the first half of the year (H1), according to Ye Shengji, deputy secretary general of the China Association of Automobile Manufacturers (CAAM). The abrupt outbreak of coronavirus epidemic worsens China's auto market climate, which has faced two-consecutive-year YoY sales downturn. Mr. Ye said the demands will..   [ read more ]

BYD may consider exporting homemade face masks

Posted on 2020-03-18

BYD may give consideration to exporting its self-made face masks as the overseas demands are rising with more coronavirus confirmed cases reported outside China, according to a local media, citing Li Wei, with BYD's president's office. The Shenzhen-based automaker has now been known by the world with its new identity—the world’s largest face mask producer. After the courageous decision announced a month ago, BYD has witnessed its mask capacity soar up to 5 million units per day. Besides, the nu..   [ read more ]

Hongqi defies against general downturn with 32.5% YoY jump in Feb. sales

Posted on 2020-03-16

With 3,752 units sold, Hongqi, a premium auto marque of the state-run FAW Group, boasted a remarkable year-on-year growth of 32.5%, a very rare performance to the overall auto market which has been shocked by the coronavirus spread. For the first two months, Hongqi sold a total of 16,382 new vehicles, skyrocketing 103.8% compared to the same period a year ago. From the time being, it has completed 8.2% of the 200,000-unit annual sales target. The brand has five models on sales to-day, namely, ..   [ read more ]

BYD for the second time receive NEV subsidy in March

Posted on 2020-03-12

BYD Company Limited said on March 10 the Xi’an Finance Bureau will allocate to its subsidiary BYD Automobile Co.,Ltd RMB1,983,510,000 of central government subsidy for new energy vehicle (NEV) promotion that occurred in 2018, of which RMB1 billion has been paid. This is the second time that BYD received such kind of subsidy in March. On March 2, the company claimed another subsidiary BYD Auto Industry Co.,Ltd scored RMB1,342,260,000 of NEV subsidy occurring in 2017. The Shenzhen-based automake..   [ read more ]

China-built Model 3 accounts for 73% of Tesla models’ China insurance registration in Jan.

Posted on 2020-02-29

In January, a total of 3,563 consumers in China bought the Mandatory Liability Insurance for Traffic Accidents of Motor Vehicle (MLI) for Tesla-branded vehicles, according to the China Insurance Regulatory Commission. The China-built Model 3 accounted for 73% of the total volume with 2,605 units registered, versus 578 units for the imported one. On December 30, 2019, Tesla handed over 15 China-built Model 3s to employees, while the scale delivery formally kicked off a week later. Excluding the..   [ read more ]

China-built Model 3 accounts for 73% of Tesla models’ China insurance registration in Jan.

Posted on 2020-02-29

In January, a total of 3,563 consumers in China bought the Mandatory Liability Insurance for Traffic Accidents of Motor Vehicle (MLI) for Tesla-branded vehicles, according to the China Insurance Regulatory Commission. The China-built Model 3 accounted for 73% of the total volume with 2,605 units registered, versus 578 units for the imported one. On December 30, 2019, Tesla handed over 15 China-built Model 3s to employees, while the scale delivery formally kicked off a week later. Excluding the..   [ read more ]

FAW-Toyota said to build new plant with annual capacity of 200,000 NEVs

Posted on 2020-02-28

FAW-Toyota prepared to construct a new plant with annual capacity of 200,000 NEV in Tianjin, a local media outlet reported on Feb. 27, for the second time expanding NEV capacity since 2018. Located at Binhai New District in Tian, the yet-to-be-built plant is said to cover an area of around 1.97 million square meters and involve a total investment of RMB8.495 billion, according to the aforementioned media outlet, citing a file from local authority. Besides, Tianjin government expects to make evi..   [ read more ]

Review of China automakers' Jan. sales performance

Posted on 2020-02-26

Automakers in China must spend an extremely unforgettable Spring Festival holiday accompanied by the coronavirus outbreak. According to the China Association of Automobile Manufacturers (CAAM), China's auto sales in January were estimated to drop 18% from the previous year. However, it is not fair to entirely impute the downturn to the epidemic because the month embracing the Lunar New Year holiday is supposed to be a slack season for auto sale. Chinayuchang hereby summarized the Jan. sales vol..   [ read more ]

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