Like its whole economy, China’s auto market grew at breakneck pace in the 2000s, and while it is slowing down, it still contains enormous potential in terms of both raw sales and innovation as China shifts toward electric. The Chinese government is actively promoting new-energy vehicles, offering subsidies that amount to about 23% of the price of a vehicle. And consumers, many of whom no longer consider car ownership as a status symbol, are more willing to buy electric cars. Yet despite favorable policies and growing market demand, there are challenges ahead: lack of power stations, fragmented manufacturing of power batteries and insufficient innovation.
BMW China President and CEO Karsten Engel on how China became the company’s largest market globally, and how things are shaping up in the ‘New Normal’.
As awareness increases, Chinese consumers are taking to electric vehicles. But just how evolved is the Chinese electric car industry?
This week saw the end of Yahoo China, the Shanghai Composite Index peaked, and Uber found an unlikely partner in the Warren Buffet-backed BYD.
This week, all eyes were on the 2014 China GDP figure, which at 7.4% was lower than the target of 7.5%; Tencent created a mini ad frenzy on WeChat; and LeTV’s electric car plans inched a step closer to fruition.
This week, smartphone manufacturer Xiaomi made new moves in the wearable technology space; Tencent signed a deal to boost its K-pop quotient; and NDRC placed its bets on a new plan to clean China’s smoggy skies.
A look at how Chinese outbound investment in auto is rising and how marquee brands like Volvo Cars and Manganese Bronze now belong to Chinese companies.
The government money is there, the producers are capable, so what is stopping electric cars in China from taking off?
The week that was: Qihoo 360 heads to Silicon Valley to fund start-ups; CCTV’s latest smear campaign targets Bank of China; China’s trade numbers look up; and electric cars may get cheaper. Qihoo 360 launches its VC Fund in Silicon Valley Qihoo 360, an internet security firm based in Beijing, has just set up a venture […]
Overnight the maverick electric car company became an evangelist of the Open Source philosophy. Why is releasing Tesla’s patents such a big deal? In the traditional business playbook, one way companies win is to create something useful, patent it, and then make money on their exclusive right to use that intellectual property (IP). Most companies still operate this way […]