The Italian government stated that it is talks with Tesla Inc (NASDAQ: TSLA), as well as with Chinese automakers, in attempt to get them to bring their manufacturing to the country and boost the national output after years of decline on the automotive front.
At an event in Turin on Wednesday, Italy’s sole major automaker, Stellantis N.V. (NYSE: STLA) CEO Carlos Tavares warned that the arrival of Chinese car manufacturing in Italy would force some tough and unpopular decisions for the automaker. This move would likely result in Stellantis losing market share and sales volumes, to which it would have to respond by doing whatever it takes to accelerate its efforts to increase productivity and its competitiveness.
On Thursday, Volkswagen Group (OTC: VWAGY) revealed its plans to invest 2.68 billion to expand its production and innovation hub in China, more precisely in the city of Hefei in Anhui Province, with the aim of increasing the speed of bringing technologies to market by about 30%. In 2022, Volkswagen got dethroned in China by the local BYD Company Limited (OTC: BYDDY) who became the best-selling car brand, giving even Tesla a run for its money. Moreover, BYD even shortly dethroned …
Full story available on Benzinga.com
The Italian government stated that it is talks with Tesla Inc (NASDAQ: TSLA), as well as with Chinese automakers, in attempt to get them to bring their manufacturing to the country and boost the national output after years of decline on the automotive front.
At an event in Turin on Wednesday, Italy’s sole major automaker, Stellantis N.V. (NYSE: STLA) CEO Carlos Tavares warned that the arrival of Chinese car manufacturing in Italy would force some tough and unpopular decisions for the automaker. This move would likely result in Stellantis losing market share and sales volumes, to which it would have to respond by doing whatever it takes to accelerate its efforts to increase productivity and its competitiveness.
On Thursday, Volkswagen Group (OTC: VWAGY) revealed its plans to invest 2.68 billion to expand its production and innovation hub in China, more precisely in the city of Hefei in Anhui Province, with the aim of increasing the speed of bringing technologies to market by about 30%. In 2022, Volkswagen got dethroned in China by the local BYD Company Limited (OTC: BYDDY) who became the best-selling car brand, giving even Tesla a run for its money. Moreover, BYD even shortly dethroned …
Full story available on Benzinga.com
The Italian government stated that it is talks with Tesla Inc (NASDAQ: TSLA), as well as with Chinese automakers, in attempt to get them to bring their manufacturing to the country and boost the national output after years of decline on the automotive front.
At an event in Turin on Wednesday, Italy’s sole major automaker, Stellantis N.V. (NYSE: STLA) CEO Carlos Tavares warned that the arrival of Chinese car manufacturing in Italy would force some tough and unpopular decisions for the automaker. This move would likely result in Stellantis losing market share and sales volumes, to which it would have to respond by doing whatever it takes to accelerate its efforts to increase productivity and its competitiveness.
On Thursday, Volkswagen Group (OTC: VWAGY) revealed its plans to invest 2.68 billion to expand its production and innovation hub in China, more precisely in the city of Hefei in Anhui Province, with the aim of increasing the speed of bringing technologies to market by about 30%. In 2022, Volkswagen got dethroned in China by the local BYD Company Limited (OTC: BYDDY) who became the best-selling car brand, giving even Tesla a run for its money. Moreover, BYD even shortly dethroned …Full story available on Benzinga.com Read MoreAsia, automakers, BYDDY, contributors, electric vehicles, EVs, STLA, TSLA, VWAGY, XPEV, Markets, Tech, General, TSLA, US88160R1014, BYDDY, VWAGY, XPEV, STLA, Asia, Markets, Tech, General, Benzinga Asia
