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US$294mil investment can make 30,000 vehicles yearly
BEIJING: U.S. electric car maker Tesla cut the starting price of its Chinese-made Model 3 sedans on Thursday by about 8% to 249,900 yuan ($36,805), once Chinese subsidies for electric vehicles are taken into account, according to its China website.
NEW YORK: ArcelorMittal SA, the world's largest steelmaker, is exploring a deal to merge its U.S. operations with Cleveland-Cliffs Inc, the largest U.S. producer of iron ore pellets, people familiar with the matter said on Sunday.
VOLKSWAGEN AG is in a position to overtake Tesla Inc., both in terms of e-car manufacturing numbers and software development, works council chairman Bernd Osterloh told Welt am Sonntag in an interview.
BEIJING: China has taken a series of measures to further open its manufacturing sector to overseas companies, which has significantly boosted foreign investors’ confidence in the nation’s gigantic market and attracted more overseas investments, experts said.
SHANGHAI: Electric carmaker Tesla Inc has entered into an agreement for a working capital loan of up to 4 billion yuan (US$565.51mil) with a lender from China for its Shanghai car plant, according to a regulatory filing on Friday.
SHENZEN: BYD Co, the Chinese electric-vehicle maker backed by Warren Buffett, will start offering a full suite of EV components to rivals and aspiring auto manufacturers to diversify its revenue sources amid sputtering car demand.
BEIJING: Automakers in China are calling on the government to help after industry-wide sales plunged 79% in February to mark their biggest ever monthly decline, with demand pummelled by the coronavirus outbreak.
BEIJING: China’s vehicle sales likely fell by almost a fifth in January, marking a 19th consecutive month of decline, hurt by Lunar New Year holidays that started earlier than last year and by the coronavirus outbreak.