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Posts Tagged ‘China EV news’

Daimler and BAIC Motor Investing $735M to Boost Battery-Car Production in China

Investment targets world's largest EV market.

by on Jul.05, 2017

Daimler AG is partnering with BAIC to ramp up its electric vehicle production in China, which is pushing for more "new energy vehicles."

Daimler AG and BAIC Motor Corp., its Chinese joint venture partner, plan to invest the equivalent of $735 million to boost production of electric vehicles in China, part of the German carmaker’s broader push into electrified vehicles.

The move comes, at least in part, under pressure from the Chinese government which is pushing automakers to shift from traditional gasoline engines to battery power to help reduce the country’s endemic smog problems.

Global Auto News!

China is already the world’s single-largest market for plug-based vehicles, passing the United States two years ago. And, “By 2025, the Chinese market will have a substantial share in global sales of Mercedes-Benz electric vehicles,” said management board member Hubertus Troska in a statement issued by Daimler on Wednesday. (more…)

China Cracking Down on Smaller Automakers

New policies aim to increase production of electric vehicles.

by on Jun.13, 2017

China is looking to increase is EV sales to 30% of all new car sales by 2030 and is using new policies to get there.

China’s top economic planning agency said it plans to tighten regulations for construction of new factories for vehicles using internal combustion engines and gasoline for fuel.

The new rules apparently have two goals. First, they will reduce the potential for the kind of overcapacity that plagues automobile industries in North America, Europe and other parts of Asia such as Japan where sales of new vehicles appear to have peaked as the country’s population ages.

Global Auto News!

Additionally, China’s new policies indicates the government wants to cut down on small “zombie” type car and truck makers that have been supported by provincial governments across China and helps promote Chinese efforts to promote the wider use of electric vehicles.   (more…)

Daimler, BAIC Ink Deal to Produce EVs in China

German maker to invest in plant to expand production.

by on Jun.02, 2017

Daimler's China chief, Hubertus Troska, will oversee the new deal with BAIC to increase EV production in China.

Daimler AG and its principal Chinese partner BAIC Group inked a deal to invest in the Mercedes-Benz plant in China to increase production of electric vehicles there.

Hubertus Troska, member of the Board of Management of Daimler AG, responsible for Greater China, and Xu Heyi, chairman of the BAIC Group attended the signing ceremony held in Berlin, as did German Chancellor Angela Merkel and Chinese Premier Li Keqiang.

Global Auto News!

The agreement focuses on two significant actions. First, Daimler will acquire a minority share in Beijing Electric Vehicle Co., Ltd. (BJEV), a subsidiary of the BAIC Group or collaborate with BAIC in the NEV sector. (more…)

China Pushing for More Alternative Fuel Vehicle Sales

Reliance on foreign oil prompts government action.

by on May.15, 2014

China's reliance on foreign oil has increased dramatically due to the rapid increase in vehicles on the roads.

The rapid growth of new vehicle sales in China has led to significant increases in oil demand and oil imports, raised the price of petroleum around the world and prompted the Chinese government to offer big subsidies to motorists using electric vehicles.

Consumption of gasoline in China more than doubled from roughly 900,000 barrels per day (bbl/d) in 2003 to more than 2 million bbl/d in 2013, extending a trend of significant growth in China’s transportation sector since the 1990s.

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Automakers in China sold more than 20 million vehicles last year, including more than 550,000 in the capital city of Beijing where sales are regulated a license plate lottery that is designed to curb some of the enthusiasm for cars among China’s legions of consumers. (more…)