16 | Monday, March 1, 2021 HONG KONG EDITION | CHINA DAILY 10 | Wednesday, March 6, 2019 CHINA DAILY
Popular Chinese NEVs slide in Short Torque Tesla to cut Model 3 Foxconn, Fisker to production in the US team up on EV project Electric vehicle maker Tesla plans Electric vehicle maker Fisker said to slash production of the Model it will work with Apple supplier value as share prices tumble 3 sedan for two weeks, sources Foxconn to produce more than told Reuters on Thursday. It 250,000 vehicles a year from late comes at a time when demand is 2023. The deal, codenamed Over valuation in Nio, slowing for Tesla cars and the “Project PEAR” (Personal Electric market faces a chip shortage. Automotive Revolution), is look Xpeng and Li Auto They were not aware of the cause ing at markets globally including leave startups more of the production slowdown but North America, Europe, China susceptible to market one person said a chip shortage and India, Fisker said. Foxconn, may have influenced the produc Apple’s main iPhone maker, has volatility, fluctuations tion cutback, which would last ramped up its interest in electric until March 7. Tesla said last vehicles over the past year or so, month that it might face tempo announcing deals with Chinese By ZHANG DANDAN rary effects from a global semi electric vehicle maker Byton and [email protected] conductor shortage and logistics automaker Zhejiang Geely Hold disruption at ports. ing Group. hinese electric vehicle mak ers Nio, Xpeng and Li Auto Stellantis holds talks Goodyear gets its have experienced sharp declines in market value in on UK car plant future grips on Cooper Cthe past few weeks, as investor con Stellantis, the newlyformed Two of the biggestremaining US fidence wavers on multiple factors, European carmaker, said on tire companies are joining forces. from the fact these shares have been Thursday that ongoing talks with Goodyear Tire & Rubber is bid up in recent months and are cur the British government over the acquiring Cooper in a deal with rently overvalued, to fears over a rise future of a Vauxhall plant in an equity value of $2.8 billion. It in interest rates in the United States. northern England were “produc will combine the two centuryold The share prices of the three NEV tive but not conclusive”. A spokes Ohio manufacturers. Cooper, makers have been sliding since Feb man for Stellantis — a merger of founded in 1914, is the fifthlarg 9 and have shed more than $30 bil France’s PSA and USItalian rival est tire maker in North America lion in value, according to a report Fiat Chrysler — said the company based on revenue. The company by Securities Daily on Wednesday. expects “an eventual binding has about 10,000 employees in 15 Nio’s share price fell from $62.84 Chinese new energy vehicle startup Xpeng displays its P7 model at the 2020 Guangzhou auto show. commitment by the UK govern countries. In addition to the on Feb 9 to $54.43 on Feb 18. As of CAO YINGYING / CHINA DAILY ment” regarding the future of the Cooper brand, it also owns Mas Friday, its shares continued to drop Ellesmere Port facility. tercraft, Roadmaster and Mickey to $45.78, down 27.15 percent from Thompson. the beginning of the month. in many innovative and cutting edge “The development direction of Geely, Volvo combine Xpeng’s share price fell from industries making their markets NEVs is clear, but the development powertrain operations Honda new chief to $48.75 on Feb 9 to $40.88 on Feb 19, particularly volatile. process is tortuous. The industry is put priority on EVs and then to $34.11 on Friday. “Similar to many innovative The industry is estimated to have changes, and the Volvo Cars and Geely Automobile Though Li Auto’s shares have industries, NEVs have had an out estimated to have shortterm opportunities and risks Holdings announced recently Toshihiro Mibe, a research been steadier compared with Nio break period, growth period and are highlighted.” wideranging collaborations and expert set to be the president of and Xpeng, they still have shown a trough period. There will be fluctua changes, and the With the NEV market in its early the combination of their power Japanese automaker Honda, has clear downward trend in the past tions, but in the long run, if the shortterm stages, most listed companies in the train businesses. Retaining inde promised to steer the company two weeks. industry is promising enough, it’s relevant industrial chain have expe pendent corporate structures, the toward new growth by focusing Its share price dropped from worth being engaged with,” said Gu opportunities and rienced large increases in their valu two auto companies plan to com on ecological models and safety $31.87 on Feb 9 to $25.37 on Friday, Hongdi, associate director and pres risks are highlighted.” ations, according to Lin, adding bine their powertrain operations technology. Honda said Mibe will a decline of 20.4 percent. ident of Xpeng, who previously many funds have profittaking into one new company focused on replace Takahiro Hachigo from Industry leader Tesla, whose suc served as chairman of global invest Lin Shi, a financial columnist demand, so the trend of value regres nextgeneration hybrid systems April 1, but it is subject to share cess the Chinese NEV startups are ment bank JPMorgan’s Asia Pacific sion is obvious in the short term. and internal combustion engines, holders’ approval at a meeting in trying to replicate, which in turn has arm. As for the view that the capital said a joint statement issued late June. Mibe stressed the automak led investors to pile in, massively Gu added that when he joined the But he said he firmly believes that market is to squeeze out the bubble Wednesday. The new company, er will be aggressive about devel increasing their market valuations, startup three years ago, he could not the NEV revolution will take place, in the NEV market, some agencies expected to become operational oping and selling electric has also had its share price tumble have imagined how much the compa Securities Daily reported. have reassured there is little need this year, will supply to both com vehicles. in recent weeks. ny’s market value would become and His words were echoed by Lin Shi, for worry, saying it is just shortterm panies and other automobile Investor overenthusiasm occurs what the ups and downs would be. a financial columnist, who said: fluctuations. manufacturers. MOTORINGAGENCIES Audi aims to snatch back first place in China’s premium vehicle segment
By LI FUSHENG er February, will arrive at the end [email protected] of the year. The etron GT is built on the J1 German premium carmaker platform, which is codeveloped by Audi is aiming to create a golden Audi and Porsche. decade in the world’s largest auto With the etron GT, Audi is motive market. One of the goals is demonstrating its plans for shap for it to regain the top position it ing the future of mobility. It calls enjoyed for around three decades. the model the start of a new era In an interview last week, Audi and the Gran Turismo of the China President Werner Eichhorn, future. who is less than a year into the job, The model is 4.99 meters in said the ambition is based on three length and 1.96 meters wide, pillars. almost the widest model in its seg One of them is that the compa ment. The RS variant can acceler ny’s CEO, Markus Duesmann, ate from zero to 100 kilometers per attaches great importance to Chi hour in 3.3 seconds. na, which is Audi’s largest market Eichhorn said these models con and main source of revenue and stitute the first wave of Audi’s elec profit. trification campaign. It is Duesmann is the first top execu preparing waves two and three by tive of any premium carmaker to collaborating with Volkswagen. take direct charge of its China “Wave two will be, and that is business. the beauty if you are part of the In a broader context, Herbert biggest car company in the world, Diess, CEO of Audi’s parent com we can use also the MEB platform pany Volkswagen, assumes direct of the Volkswagen Group. So, the responsibility for its operations in second wave will then include cars the country as well. on MEB,” he said. Eichhorn said the second pillar Phase three will be cars built of its golden decade blueprint lies based on the Premium Platform in its two Chinese partners. Audi Werner Eichhorn, president of Audi China, stands beside an RS etron GT. The president said China’s premium vehicle market will grow Electric, which is developed by has been producing vehicles in from around 3 million in 2020 to around 4 million in 2030. PHOTOS PROVIDED TO CHINA DAILY Audi and Porsche. China with FAW since the late “You can imagine that when we 1980s, and was a longtime cham do it with Porsche, that guarantees pion in the country’s evergrowing its latest technology and absolute premium vehicle market. high performance and efficiency,” The third pillar is models. The Eichhorn said. number of Audi models made with Audi is planning to build PPE FAW will reach 12 by the end of electric vehicles in China in a part 2021, Eichhorn said. Localized nership with FAW. models now account for a majority The joint venture, which is of its sales in the country. located in Changchun, Jilin prov Last year, it sold 727,358 vehi ince, will see the first model roll cles, the brand’s best result in off the assembly line in 2024. Audi more than 30 years of business in holds the majority stake in the China. partnership. Audi expects its annual sales in Eichhorn said the company is the country to grow to 1 million by working on updating and devel 2023, as its partnership with oping software as well, including another Chinese carmaker, SAIC connectivity and digitalization, Motor, is to roll out the first vehicle and autonomous driving. later this year. The model will hit From left: The Audi RS etron GT can accelerate from zero to 100 kilometers per hour in 3.3 seconds. The etron GT is built on the J1 plat “We are speeding up and we are the market in 2022. form, which is codeveloped by Audi and Porsche. transferring all the strengths we Eichhorn said China’s premium have out of the existing business vehicle market will grow from into the latest technology and around 3 million in 2020 to the opportunity to create a new we would like to be part of it,” year, including the domestically milestone of its electrification into the NEV market,” Eichhorn around 4 million in 2030. golden decade and return to the Eichhorn said. produced etron SUV. campaign in China. said. By then, he estimates that 4045 No 1 position in China’s premium Audi is rapidly introducing new Audi launched an imported He said the etron Sportback Globally, Audi is aiming to have percent of those vehicles will be vehicle market. models into the country, with six etron in China in late 2018. Eich will follow soon and the etron GT, 30 electrified models on sale by new energy. He said Audi will seize “It is a huge transformation and NEV models to be launched this horn said its localization will be a which had its global debut in earli 2025.
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