U.S. Treasury Secretary Janet Yellen has called on the European Union to collaborate with the United States in addressing the surge of Chinese green-tech exports, warning that the influx threatens global manufacturing sectors.
Geely's electric vehicle manufacturer Polestar faces intense pressure amid weakening demand, with its stock hitting an all-time low. On Monday, shares dropped to $1.13, as the company struggles to remain above the $1 threshold required to comply with Nasdaq listing requirements.
Geely's electric vehicle manufacturer Polestar revealed on Friday that it received a deficiency notice from Nasdaq for not filing its annual report for the fiscal year of 2023. Polestar shares closed on Friday 8 cents above its all-time low of $1.16 reached on April 25.
Magna Steyr, the automotive contract manufacturer, is actively exploring potential collaborations with Chinese OEMs to manufacture their vehicles in Europe. Magna has manufactured more than four million vehicles, including 34 different models from 11 automakers.
Citi analyst Itay Michaeli lowered on Thursday the firm's price target on Polestar shares from $2.50 to $1.70 per share while maintaining a Neutral rating.
The shares of the Chinese EV makers Nio and Xpeng closed higher on Tuesday despite the confirmation of the huge increase in China-made energy goods including electric vehicles.
The shares of the Chinese EV makers Nio and Xpeng closed higher on Tuesday despite the confirmation of the huge increase in China-made energy goods including electric vehicles.
Volvo Cars announced on Monday that has completed the distribution of 62.7 percent of its shares in Polestar Automotive Holding UK PLC to its shareholders in the form of Swedish Depositary Receipts (SDRs).
Dan Ives, Managing Director of Wedbush Securities and Senior Equity Analyst, said on Friday that China EV makers will "aggressively go after Europe" as Biden administrations prepares to increase tariffs from 25 to 100 percent next week.
Geely's premium brand Zeekr became, on Friday, the fourth US listed electric vehicle manufacturer. Established in China back in 2021, the company needed only three years to debut in the New York Stock Exchange as it plans to expansion in six to eight European countries this year.
The upcoming week can see tariffs on clean-energy goods from China increasing as much as 400 percent. When it comes to the tariffs on electric vehicles manufactured in China, US officials expect to raise the tariff rate from 25 percent to nearly 100 percent, sources told WSJ.
The Biden administration is poised to unveil fresh tariffs on China next week, with a focus on key sectors such as electric vehicles, batteries, and solar cells, diverging from Trump's broad tariff approach.
Zeekr, the premium brand of Chinese automaker Group Geely, has priced its initial public offering (IPO) in the United States at the top of its indicated range on Thursday, raising $441 million.
Donald Trump, the Republican presidential candidate running against Biden in the upcoming presidential election on November 5th, pledged to overturn many of the Biden administration's environmental regulations.
Volvo Cars announced on Thursday that its Chief Operating Officer (COO) and Deputy CEO, Javier Varela was leaving the company with immediate effect. Today, Rivian announced that Varela is joining as COO starting from August.
Volvo Cars has announced on Thursday that its Chief Operating Officer and Deputy CEO, Javier Varela is leaving the company with immediate effect to "pursue new opportunities outside the company".
The electric vehicle (EV) manufacturer Polestar announced on Tuesday that it would postpone the release of its financial results for the fourth quarter and full year of 2023 for the second time. Polestar shares plummeted 11.50 percent in after-hours market to $1.23 per share following the news.
On Tuesday, the weekly car insurance figures for China from April 22 to 28 were published, showing a notable surge for most automakers compared to the previous week.
Polestar shared on Monday that its upcoming model Polestar 5 successfully charged from 10 to 80 percent in 10 minutes using the extreme fast charging from the startup StoreDot.
Polestar, one of the electric brands from the Geely empire, announced this Wednesday the arrival of the Polestar 4 SUV to the US market. The first deliveries are planned for the last quarter of the year with the model starting at $55,000.
China's weekly car insurance data for the period of April 15 to 21 was released on Tuesday, revealing that passenger car sales soared to 354,000 units. New energy vehicles (NEVs) maintained their 47% market share, consistent with the previous week, with a total of 159,000 units sold.
According to the latest new energy sales (NEV) sector, issued this Tuesday, Li Auto, known for its fully electric model Li Mega and four hybrids, secured 6,000 units, matching Tesla's performance.
In March, the European Union's car market faced its first monthly decline of the year, marking a 5.2% drop to 1 million units — the European Automobile Manufacturers' Association (ACEA) numbers unveiled on Thursday.
According to the latest new energy sales (NEV) sector, issued this Tuesday, Li Auto, known for its fully electric model Li Mega and four hybrids, secured 6,000 units, matching Tesla's performance.
According to the latest new energy sales (NEV) sector, issued this Tuesday, Li Auto, known for its fully electric model Li Mega and four hybrids, secured 6,000 units, matching Tesla's performance.
Polestar shares hit on Monday morning a new all time low of $1.24 per share as sales pressure increase and the redemption shares from Volvo's stake start trading. On LinkedIn, CEO Thomas Ingenlath addressed shareholders emphasizing the company's commitment to succeed with the latest models 3 and 4.
Geely's brand Polestar is gearing up to expand its product portfolio and unveil its phone on Tuesday, April 16th. The smartphone is expected to start at 4,999 Yuan ($700) in China.
Geely's brand Polestar reported on Thursday the delivery of "approximately 7,200" electric vehicles in the first quarter, a 40 percent crash when compared to 2023. At the time, the manufacturer had delivered 12,000 units marking a yearly growth of 26 per cent.
Geely Holding Group reported on Thursday its first quarter sales of 738,400 vehicles, an yearly increase of 27%. The figure includes sales from Geely Auto, Lynk & Co, Zeekr, Volvo Cars, Polestar, Proton, Lotus, Smart, Radar, LEVC, and Farizon.
In the latest update from the automotive sector, revealed this Tuesday, BYD led the ranking with over 45 thousand units registered in China. The week was marked by the Qingming Festival in the country, a three-day holiday occurring every early April.
