Focusing on electrification, BYD plans to build a factory in Karachi, Pakistan.
According to people familiar with the matter, Chinese electric vehicle manufacturer BYD plans to cooperate with a local partner to build a factory in Karachi to gain a share of Pakistan’s growing electric vehicle market.
FF lost US$50.
6 million in the second quarter.
On August 15, electric vehicle startup Faraday Future (FF) released its second-quarter 2024 financial report.
Among them, operating expenses were US$29.
9 million, compared with US$49.
4 million in the same period last year.
operating loss decreased to US$50.
6 million from US$56 million in the same period last year.
As of June 30, 2024, FF’s total book assets were US$457.
9 million, total liabilities were US$309.
2 million, and net assets were US$148.
7 million.
, Focusing on the new trends of traditional car companies,Stellantis was sued by U.S. shareholders for poor performance.
On August 15, Stellantis was sued by shareholders in the United States.
Shareholders accused Stellantis of concealing rising inventories and other weaknesses, deceiving them, and then announcing disappointing earnings, causing the stock price to fall.
The lawsuit also alleges that Stellantis artificially inflated its share price through most of 2024 by making “extremely positive” assessments of inventory, pricing power, new products and operating margins.
Volkswagen hired former GM labor relations chief ahead of UAW negotiations.
Volkswagen hired Christena Wilson, a veteran from General Motors, to lead upcoming contract negotiations with the United Automobile Workers (UAW).
Volkswagen Group (USA) said Wilson took over as the company’s director of labor relations in July.
, Focusing on Industry and Economics, the American Automobile Union mobilizes all artists to support Harris.
The United Automobile Workers (UAW) said on August 14 that it is mobilizing one million working and retired workers across the country to vote for Kamala Harris in the November 5 election, providing potential help for the Democratic candidate in key states.
Vietnam’s car sales in July increased by 8% year-on-year.
According to wholesale data released by the Vietnam Automobile Manufacturers Association (VAMA), in July this year, Vietnam’s new car sales increased by 8% year-on-year to 24,774 units, compared with 22,868 units in the same period last year.
However, this data is the car sales of 20 manufacturers that have joined VAMA, and does not include car sales of brands such as Mercedes-Benz, Hyundai, Tesla and Nissan, nor does it include local electric vehicle manufacturer VinFast and a growing number of Chinese brands.
Indonesia’s car sales fell 8% year-on-year in July.
Wholesale data compiled by the Indonesian Automobile Industry Association Gaikindo showed that in July this year, Indonesia’s new car sales fell from 80,416 vehicles a year ago to 74,160 vehicles, a drop of 8%.
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