The first quarter of FY21 ended on a contrasting note for auto sector, depicting a 2.7 per cent rise in car sales to 31,868 units while production fell by 24pc to 27,574.
China put on a spectacular military parade to celebrate the 70th anniversary of Communist Party rule last year, and President Xi Jinping wasn’t the only star of that show.
Families place a high demand on their transport, needing the fun as well as the functional.
China’s market regulator disclosed details Monday of penalties levied against Luckin Coffee Inc. and related parties for engaging in unfair competition by fabricating sales.
Kia Motors Corp. and two other South Korean carmakers have yet to reach wage deals with their unions for this year.
POSCO International Corp., a South Korean general trading company, said Tuesday that it has signed a deal to supply half shafts to Vietnamese startup VinFast next year for its first electric vehicles.
China FAW Group Co Ltd, the Changchun-based State-owned automaker, plans to invest 110 billion yuan ($16.2 billion) in new technologies and products such as new energy, connected and smart vehicles during the 14th Five-Year Plan (2021-25) period.
The State Council has adopted a new blueprint for the growth of the new-energy-vehicle sector as it seeks to inject fresh momentum into the development of the world’s largest auto market and enable breakthroughs in cutting-edge technologies.
South Korea’s Hyundai Motor Co started construction on a research and development centre in Singapore on Tuesday that will house a small-scale electric vehicle production facility.
German stocks rose on Monday, with the benchmark DAX index up 87.18 points, or 0.67 percent, to close at 13,138.41 points.