Tag: china
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Chinese startups are battling with Tesla for electric-car supremacy – take a look at their cars
Xpeng sells a limited-edition version of its P7 sedan with scissor doors. Xpeng Three electric-car startups have risen to the top of the pack in China. Nio, Xpeng, and Li Auto are all challenging Tesla in what's becoming its most crucial market. Here's a quick guide to the companies and the high-tech models they sell.…
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Goldman Sachs cuts its China GDP forecast for 2021, warning the economy’s energy crunch is yet another growth shock
Wang Jilin / Costfoto/Barcroft Media via Getty Images Goldman Sachs lowered its 2021 GDP growth forecast for China to 7.8% from 8.2%, blaming energy constraints. Pressure to meet environmental targets has affected 44% of China's industrial activity, its economists said. Evergrande-related risks to the property sector and regulatory clampdowns are other headwinds to the economy.…
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China: Apple, Tesla suppliers halt production
Several key Apple and Tesla suppliers said they had halted production on Sunday at some of their Chinese facilities to comply with the country’s tighter energy consumption policy.Apple supplier Unimicron Technology Corp said that three of its subsidiaries in China had to stop production from midday on Sept. 26 until midnight on Sept. 30 to…
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India-US investment: Howdy, Biden, it’s India here
Narendra Modi and Joe Biden met yesterday. The Covid-wracked world has brought enormous new challenges to both India and the US, bringing home a stark realisation of why staying together on multiple issues is essential for the prosperity of both countries. What are some of the low-hanging fruits with respect to investments and related areas?First,…
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China’s Recent Floods Estimated To Have Damaged More Than 400,000 Cars
Zhengzhou’s trade association, which serves the city that bore the brunt of recent floods in China, estimates that more than 400,000 vehicles were damaged. Row upon row of damaged cars can be seen in a lot awaiting their fate as many are likely to be totaled by the flooding reports the Weather Network. A similar…
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Retail investors are snapping up tumbling Chinese stocks like Didi – even as institutions balk at the government crackdown
Didi was an unlikely favorite among TD Ameritrade users in July. VCG/Getty Images China's regulatory crackdown has unnerved institutional investors, but retail traders don't appear scared. Data shows they've been snapping up tumbling stocks like Alibaba and Didi despite big risks. Retail investors have changed into dip-buyers that are looking for bargains, analysts say. Sign…
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Tesla and local EV makers are eclipsing legacy auto in China’s electric car segment
It appears that making electric cars that people want to buy is not so easy, after all. This is a hard lesson that is currently being learned by veteran automakers like Volkswagen and Toyota, both of whom are being vastly outperformed in China by Tesla and the country’s homegrown premium EV makers. China is the…
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Tesla China more than doubles VW’s Q2 sales figures in June alone
Tesla more than doubled Volkswagen’s battery electric vehicle (BEV) sales for the second quarter of 2021 in a single month. In June alone, Tesla sold more than 28,000 BEVs to Chinese customers, while VW managed to deliver just over 12,000 BEVs in Q2 as a whole. Earlier today, Volkswagen announced its sales figures for the…
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GM, Wuling Make Just $14 Profit Per Car On China’s Best-Selling EV
China’s best-selling EV last year was the newly introduced Hong Guang MINI EV, which is produced by General Motors and its Chinese partner Wuling. This year, some projections suggest that the automaker might sell as many as 400,000 units of the car. One of the biggest appeals of the little EV is its price, as…
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XPeng Introduces Facelifted G3 Known As The G3i
XPeng has introduced a facelifted version of the G3, known as the G3i, in China. Set to be launched in September, the G3i features a sleeker front fascia that echoes the one found on the P7. As you can see, it features a slender LED light bar that resides above new headlights. Moving further back,…