EU plans to impose tariffs on electric vehicles from China, German Chancellor and Finance Minister voice opposition
On October 2nd local time, German Federal Chancellor Scholz expressed his hope to resolve the dispute over the EU's temporary countervailing duty on Chinese electric vehicles through negotiations with China. He emphasized that the EU's response should not harm itself: "That's why negotiations with China on electric vehicles must continue
On the same day, German Federal Finance Minister Lindner also called on Germany to oppose the imposition of temporary countervailing duties on Chinese electric vehicles in the EU vote on October 4th, stating that the European Commission's proposal of temporary countervailing duties in this way is wrong. He admitted that the trade war with China would do more harm than good to the European automotive industry.
Cui Dongshu from the China Association of Automobile Manufacturers: If the stock market remains stable and upward for a long time, the strengthening of the auto market is an inevitable trend
On October 3rd, Cui Dongshu, Secretary General of the China Association of Automobile Manufacturers, issued a statement stating that it is worth considering how to assess the short-term trend of the car market under the strong stimulation of the stock and real estate markets. Due to the stronger and more precise implementation of this policy compared to historical policies, the effect is definitely particularly good. From a historical perspective, the correlation between the real estate and car markets during the stock market's record high in 2014 is also very interesting. Although there are significant differences in many basic environmental factors and policies, it can also be used as a reference for comparison. Based on the results from 2014 to 2016, during sudden stock market surges, more money will enter the stock market, making it difficult for the automotive market to achieve synchronized rapid growth. If the stock market remains stable and upward for a long time, the strengthening of the car market is an inevitable trend.
BYD: JPMorgan Chase increases holdings of nearly HKD 1.8 billion in H-shares
According to documents disclosed by the Hong Kong Stock Exchange, BYD Co., Ltd. acquired approximately 6.52 million H-shares from JPMorgan Chase on September 27th, with an average transaction price of HKD 274.5244 and an investment of approximately HKD 1.791 billion. Since then, JPMorgan Chase's holdings have increased from 4.85% to 5.45%.
BYD Dynasty sold 204605 vehicles in September, with the first monthly sales exceeding 200000 vehicles
According to BYD's official WeChat account, BYD Dynasty sold 204605 vehicles in September, with the first monthly sales exceeding 200000 vehicles; A total of 1337472 vehicles were sold from January to September this year.
Tesla delivered 462890 vehicles in the third quarter
Tesla announced on October 2nd that it produced 469796 vehicles and delivered 462890 vehicles in the third quarter, including 439975 Model 3/Y.
Tesla reportedly plans to launch four new batteries in 2026
Tesla reportedly plans to launch four new batteries in 2026 for electric pickup trucks such as Cybertruck and the upcoming autonomous taxi Robotaxi.
Toyota has postponed the production of its first American made electric vehicle to 2026
On October 2nd local time, a Toyota spokesperson stated that the company has postponed the production of its first American made electric vehicle to 2026, but plans to sell up to seven fully electric vehicles in the United States within the next two years. Toyota's initial goal was to start production of a three row, battery powered SUV at an assembly plant in Georgetown, Kentucky by the end of next year, but it has been delayed for several months until 2026. Toyota is still committed to producing this unnamed SUV in Kentucky starting in early 2026, and plans to start producing another unspecified all electric SUV at a factory in Princeton, Indiana later that year.
Faraday Future announced that executives will purchase the company's common stock, and the stock increase will last for at least three months
On October 3rd, Faraday Future announced that its global CEO Matthias Aydt and founder Jia Yueting had increased their first month stock holdings in September, totaling 10455 Class A common shares worth $35799.
Among them, Matthias Aydt purchased 5313 shares worth $18192; Jia Yueting purchased 5142 shares worth $17606. This stock purchase was made in accordance with the previously disclosed 'Salary Deduction and Stock Purchase Agreement'.
Multiple Japanese car manufacturers apply to recall over 200000 vehicles that do not meet safety standards
On October 3rd local time, Nissan Motor Company submitted a motor vehicle recall application to the Japanese Ministry of Land, Infrastructure, Transport and Tourism, involving three models: Serena, Ariya and Note, totaling 105010 vehicles. The manufacturing period of the vehicles to be recalled is from December 2021 to February 2024. The reason for the recall is that the control program of the electrical device was improper, resulting in the indicator light of the automatic locking function not lighting up in accordance with safety standards when getting off the vehicle.
Honda Motor Company reported that due to issues with power steering system components that may cause difficulty in steering operation, it will recall 97543 units of the "ZR-V" and "Civic" models produced between July 2021 and September 2024. In addition, Suzuki also announced a recall of 11805 "Burgman" motorcycles produced from January 2014 to October 2022, due to the possibility of fuel pump cracking caused by continued use in certain environments.
Stellantis Italy production will drop to below 500000 vehicles, with a year-on-year decrease of 41% in production in the first nine months
Recently, the Federation of Italian Automobile Manufacturers - Italian Labor Dispatch Union (FIM-CISL) stated that due to continued weak market demand, especially for electric vehicles, Stellantis, the world's fourth largest automaker, is expected to reduce its car production in Italy from 751000 units in 2023 to below 500000 units this year.
Toyota will invest an additional $500 million in Joby Aviation, an air taxi company
Toyota Motor America announced on October 2nd that it will invest an additional $500 million in Joby Aviation to support the certification and commercial production of its electric air taxis. The investment will be carried out in two phases, with the first phase planned to be completed later this year and the second phase planned to be completed by 2025. Toyota's total investment in Joby will reach 894 million US dollars.