Focusing on the industry and economy, China has asked the WTO to set up a panel on the dispute over subsidies for US electric vehicles, and China’s Ministry of Commerce said on July 15 that it had sent a letter to the World Trade Organization (WTO) requesting the establishment of a panel to investigate and deal with the bilateral dispute between the United States and China over the US inflation reduction Act on subsidies for new energy vehicles.
Italy and Spain support the EU in imposing tariffs on Chinese-made electric vehicles, and the European Commission is consulting EU member states to vote on imposing tariffs on Chinese-made electric vehicles.
Spain will also vote in its written submission, according to sources.
Focusing on the new trend of traditional car companies, SAIC’s first European factory may be landed in Spain, and SAIC is in talks with the Spanish Ministry of Industry to build an electric car plant in the country to produce its Mingjue cars.
It is reported that SAIC will make a decision by September 30 that the new plant may become its first electric car factory in Europe and plans to produce its first car in the fourth quarter of 2027.
GM CEO: unable to meet its target of producing 1 million electric vehicles a year by 2025, GM CEO Mary Bora said at an event on July 15: “We will not achieve the target of 1 million vehicles for the time being, just because the market has not yet developed, but we will achieve it eventually.
” A GM spokesman later said the company would not reiterate its electric vehicle production plan for 2025.
In 2023, the production of the Detroit Big three in the United States is lower than that of the international car companies for the first time.
According to a report released by the American Automobile Trade Organization Autos Drive America and the American Association of International Automobile Dealers, in 2023, international automakers produced more light vehicles in the United States than the Detroit Big three for the first time.
International car companies, including Toyota, Hyundai and Volkswagen, produced 4.
9 million light vehicles in the United States in 2023, according to the report.
By contrast, the Detroit Big three produced 4.
6 million light vehicles in the same period.
Volkswagen Toyota offered big discounts on fuel cars, and in response to a price war against BYD, Volkswagen’s Chinese joint venture SAIC Volkswagen cut the price of a version of its best-selling car, long Yi Xinrui, to 69800 yuan.
It makes it the same price as BYD’s popular Seagull hatchback, and Toyota also cut the price of its latest Chinese Camry from 170000 yuan to 130000 yuan.
Focusing on electrification, global electric vehicle sales of Kia Q2 set a record.
Kia released data showing that the company sold 17603 pure electric vehicles in June, accounting for 7% of the total sales in that month.
it increased by 49% compared with the same period last year, and retail sales of Kia electric vehicles set a new record to 54150 in the second quarter.
TomTom canceled its revenue target for next year due to weak demand for automobiles.
On July 15th, positioning technology expert TomTom cancelled his revenue target for 2025 and lowered his forecast for this year, due to the impact of weak demand in the new car market on its car positioning technology business.
TomTom said its positioning technology business would miss its revenue target of 600m in 2025 and that sales in 2024 were expected to be at the bottom of the previously forecast range of $570 million-$610 million.
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