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Yilei Sun

Exclusive: PSA, Dongfeng to drop two China auto plants, halve workforce - document

12 Aug 2019

BEIJING/PARIS Peugeot maker PSA Group and partner Dongfeng Group have agreed to cut thousands of jobs in China and drop two of their four shared assembly plants, according to a document seen by Reuters, in a last-ditch bid to curb mounting losses as the world's largest auto market loses steam. | Video

Tesla considers raising prices in China from September - sources

07 Aug 2019

BEIJING U.S. electric vehicle maker Tesla Inc is considering lifting its prices in China from September amid yuan-related uncertainty, two people familiar with the matter said.

Toyota to invest $600 million in China's Didi, new JV to develop mobility services

25 Jul 2019

SHANGHAI Toyota Motor Corp said on Thursday it will invest $600 million (£481 million ) in Chinese ride-hailing giant Didi Chuxing as well as a new joint venture as the companies seek to develop connected and electric vehicle technologies in China.

China's BAIC buys 5% Daimler stake to cement alliance

23 Jul 2019

FRANKFURT/BEIJING China's Beijing Automotive Group Co Ltd (BAIC) has bought a 5% stake in Daimler , cementing their long-standing alliance after China's Geely emerged as a potential rival by also taking a stake in the German automaker.

Tesla drops cheapest Model X, S variants, cuts prices to simplify lineup

16 Jul 2019

BEIJING Tesla Inc has dropped the standard-range variants of its Model X and Model S from its product lineup and adjusted prices across its range, in a sales push that comes days after the U.S. electric vehicle maker reported record deliveries. | Video

China considers limited support for petrol-electric hybrids in boon for Toyota, Honda

12 Jul 2019

BEIJING China is considering re-classifying petrol-electric hybrid vehicles so they get more favorable treatment than all-petrol or diesel counterparts under clean car rules, making it easier for automakers to meet environment quotas and offer more choice.

China autos brace for another annual contraction, sales shrink in June

10 Jul 2019

BEIJING China is likely to see vehicle sales drop again this year as opposed to earlier expectations for zero growth, the country's biggest auto industry association said, after it unveiled data showing the sector contracted for a 12th straight month in June.

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