Tag: Shanghai Automotive Industry Corp

Why Volkswagen Is Hiring 3,000 Engineers in China

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A bright orange robot, 10 feet tall, looms over Volkswagen’s new electric car assembly line in central China. It was imported from Germany. The factory’s other 1,074 robots were made in Shanghai. Volkswagen used to import shock absorbers from Central Europe for cars it makes at Chinese factories. Now it buys them from a company in China for 40 percent less. After relying for decades on engineers in Germany to design cars for the Chinese market, Volkswagen has begun hiring for a team of nearly 3,000 Chinese engineers, which will…

China Is Flooding the World With Car Exports

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At a time when many of China’s exports are faltering and its consumers are spending less at home, the country is flooding the world with cars. Overseas demand for inexpensive vehicles made in China, mostly gasoline-powered models that Chinese consumers now shun in favor of electric cars, is so great that the biggest obstacle to selling more abroad is a lack of specialized ships to carry them. Chinese automakers have leaped to dominance in Russia since war began in Ukraine, transporting cars by train. The companies have also captured large…

Tesla’s Profit Rose in the Second Quarter as Price Cuts Spurred Demand

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Tesla reported a rise in profit for the second quarter after the company led by Elon Musk cut prices in response to increased competition and higher borrowing costs for car buyers. The company said on Wednesday that it earned $2.7 billion from April through June, compared with $2.5 billion in the first quarter of this year and $2.3 billion in the second quarter of 2022. Sales rose 7 percent, to $25 billion, from last quarter. Lower average sales prices, as well as the cost to produce a new pickup truck,…

China’s Popular Electric Vehicles Have Put Europe’s Automakers on Notice

Chin@Strategy

FRANKFURT — The name MG used to be synonymous with spirited but finicky sports cars from Britain. Nowadays the iconic octagonal badge serves a different kind of motoring ambition: China’s push to become a big player in the global auto market. SAIC Motor, one of China’s Big Four automakers, bought the MG brand in 2007 and is stamping it on a line of electric sport utility vehicles on sale in Germany and other European markets. MG is an example of how Chinese carmakers are exploiting the shift to electric cars…