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Tesla Plans to Open a Design Center in China, Sends Out a Recruitment Notice on Social Media

Tesla Plans to Open a Design Center in China, Sends Out a Recruitment Notice on Social Media

Electric automaker Tesla plans to open a design and research center in China to make what it called “Chinese-style” vehicles. The made the announcement in a recruitment notice on the Chinese social media platform WeChat, which is the equivalent of Twitter in China.

FutureCar Staff 2020-01-16 11:35 PT

Tesla Model 3's Built in China Will Be Eligible for New Energy Vehicle Subsidies

Tesla Model 3's Built in China Will Be Eligible for New Energy Vehicle Subsidies

Tesla announced on Friday its Chinese-built Model 3 cars would receive state subsidies, a move that will help boost Tesla’s push into China, the world’s biggest market for EVs and an important market for the California-based electric automaker.

FutureCar Staff 2019-12-06 15:15 PT

BMW to Build a New Auto Plant in China with Great Wall Motor to Produce the Electric MINI

BMW to Build a New Auto Plant in China with Great Wall Motor to Produce the Electric MINI

German automaker BMW and its Chinese partner Great Wall Motor said they plan to build a plant in China with a capacity of 160,000 cars per year. The new plant will produce the BMW electric MINI and Great Wall Motor models.

Eric Walz2019-11-29 10:45 PT

Toyota & BYD Establish Joint Company in China for Electric Vehicle Development

Toyota & BYD Establish Joint Company in China for Electric Vehicle Development

China’s BYD Company Ltd. (BYD) and Japan’s Toyota Motor Corporation announced that they have signed an agreement to establish a joint company to research and development of electric vehicles.

Eric Walz2019-11-08 11:00 PT

World's Largest EV Battery Producer CATL Expects up to 50% Growth This Year as Demand Soars

World's Largest EV Battery Producer CATL Expects up to 50% Growth This Year as Demand Soars

As demand for lithium-ion electric vehicle batteries increases, Chinese battery maker Contemporary Amperex Technology Limited (CATL), the world's largest automotive battery producer, announced that it expects its net profit for the first three quarters of 2019 to reach between $328 to $500 million.

Eric Walz2019-10-18 11:00 PT

Volkswagen Says 50% of China Sales will be NEVs by 2035

Volkswagen Says 50% of China Sales will be NEVs by 2035

By 2035 half of Volkswagen’s sales in China will be new energy vehicles (NEVs), the automaker's CEO Herbert Diess told a conference in Boao, China, on Tuesday.

FutureCar Staff 2019-07-02 12:00 PT

Toyota to Sell Electric Vehicle Technology to Chinese EV Startup Singulato

Toyota to Sell Electric Vehicle Technology to Chinese EV Startup Singulato

Toyota Motor Corp has agreed to sell electric car technology to EV startup Singulato Motors, its first deal with a Chinese electric vehicle startup. The deal to license EV technology will allow the startup carmaker to speed up development of a lower-priced, compact electric vehicle for the China market.

FutureCar Staff 2019-04-15 13:29 PT

Evergrande Buys a Controlling Stake of NEVS, the Company that Purchased the Assets of Saab

Evergrande Buys a Controlling Stake of NEVS, the Company that Purchased the Assets of Saab

Evergrande Health Industry Group, the Hong Kong-based real estate investment company which owned a majority stake in troubled electric vehicle startup Faraday Future, has purchased a majority stake in National Electric Vehicle Sweden (NEVS). NEVS is the company that purchased the assets of defunct Swedish automaker Saab in 2012.

FutureCar Staff 2019-01-16 17:12 PT

SAIC VW Begins Work on a $2.5 billion China Factory to Build Audi Vehicles

SAIC VW Begins Work on a $2.5 billion China Factory to Build Audi Vehicles

Volkswagen AG’s China joint venture with SAIC Motor Corp has started construction on a $2.5 billion new energy vehicle (NEV) plant in Shanghai, which will make VW’s luxury Audi brand cars, a possible first for the venture.

FutureCar Staff 2018-10-19 11:15 PT

Tesla Secures Site in Shanghai for $2 Billion Gigafactory, its First Factory Outside the U.S.

Tesla Secures Site in Shanghai for $2 Billion Gigafactory, its First Factory Outside the U.S.

Electric automaker Tesla has signed an agreement with the Shanghai government for a 860,000 square meter parcel of land where the electric automaker plans to build its first overseas Gigafactory, Tesla said in a Chinese social media post on Wednesday.

Eric Walz2018-10-17 12:25 PT

BMW to Take Majority Control of its Chinese Joint Venture in $4 Billion Deal

BMW to Take Majority Control of its Chinese Joint Venture in $4 Billion Deal

Now that the Chinese government is allowing foreign companies to take majority control of their Chinese joint ventures, BMW becomes the first automaker to take advantage of the new rules in a multi-billion dollar deal to take a majority stake in a joint venture with a Chinese company.

Xiaoli Tian2018-10-11 18:28 PT

Toyota Plans to Triple its Vehicle Output in China By 2030

Toyota Plans to Triple its Vehicle Output in China By 2030

Japan’s Toyota Motor Corp has announced it intends to triple its vehicle offerings in China by 2030. The automaker is planning to to ramp up production in China to 3.5 million vehicles annually by then, in a renewed push to make up lost ground in the world’s biggest auto market.

Eric Walz2018-08-28 16:54 PT

Ford is Launching a New Mid-Size SUV in China

Ford is Launching a New Mid-Size SUV in China

Ford Motor Company shared the first images this week of the new Territory, a mid-size SUV designed for China with an affordable price-tag and high-tech features. Ford is targeting new buyers in emerging cities with the new SUV.

Derrick Smith2018-08-10 17:34 PT

Xpeng Motors Announces Financing of RMB 4 Billion to Take on Tesla

Xpeng Motors Announces Financing of RMB 4 Billion to Take on Tesla

Chinese electric vehicle startup XPENG Motors announces the official signing of its Series B round of RMB 4 billion ($584 million) with Primavera Capital Group, Morningside Venture Capital, as well as He Xiaopeng, Chairman and CEO of XPENG Motors. This is the largest single-round of financing in China's new energy vehicle (NEV) industry in 2018.

Eric Walz2018-08-03 11:29 PT

Tesla to Build China Factory to Produce 500,000 Vehicles Annually

Tesla to Build China Factory to Produce 500,000 Vehicles Annually

Tesla CEO Elon Musk has secured a deal with Chinese authorities to build a vehicle assembly plant in Shanghai, its first factory outside the United States. The new factory will eventually increase Tesla’s total vehicle output by 50 percent.

Eric Walz2018-07-10 19:00 PT

BMW Orders $1 Billion in EV Batteries from China’s CTAL

BMW Orders $1 Billion in EV Batteries from China’s CTAL

German automaker BMW has awarded a contract worth a little over billion euros ($1.16 billion) to China's lithium-ion battery maker CTAL to build a factory to produce cells for electric vehicles in Europe. CTAL is China's biggest lithium battery manufacturer.

Eric Walz2018-06-29 18:32 PT

GM Now Plans to Introduce 20 New Electric Car Models in China by 2023

GM Now Plans to Introduce 20 New Electric Car Models in China by 2023

General Motors is ramping up the launch of electric vehicles in China, the world’s largest market for electric and plug-in-hybrid vehicles. The U.S. automaker announced plans to introduce 10 more new energy vehicles (NEVs) in the China market between 2021 and 2023, in addition to its existing plans to launch 10 EV models between 2016 and 2020.

Eric Walz2018-06-05 12:36 PT

Tesla Registers Shanghai Electric Car Firm in China

Tesla Registers Shanghai Electric Car Firm in China

As China readies to end limits on foreign factory ownership, Tesla is looking to expand its footprint into the world’s biggest market for electric vehicles. The California-based electric automaker registered a new company in China—Tesla (Shanghai) Co Ltd.

Jeremy Carlton2018-05-14 17:47 PT

VW Investing $18 Billion into Chinese Joint Ventures for Automotive Technology

VW Investing $18 Billion into Chinese Joint Ventures for Automotive Technology

Volkswagen AG’s world-leading development budget is allocating billions more to its Chinese joint ventures, as the German carmaker seeks a competitive edge in producing battery-powered, autonomous vehicles with its Chinese partners.

Eric Walz2018-04-24 13:07 PT

China’s FAW to Partner with BYTON to Build its Electric Vehicles

China’s FAW to Partner with BYTON to Build its Electric Vehicles

China’s oldest automaker FAW (First Automotive Works), has announced a partnership with BYTON—one of China’s newest electric automakers. The collaboration is another example of a tech company partnering with a traditional automaker in an automotive industry on the verge of widespread electrification and autonomous driving.

Eric Walz2018-04-20 10:49 PT

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