Western Brands Turn to Private Equity as China Market Challenges Grow
Global brands are seeking private equity partners to help save their businesses in China amidst challenges, highlighting a strategic shift in their approach to the Chinese market.
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Chinese Premier's Visit to Germany Highlights Changing Global Dynamics.
Chinese Premier Li Qiang is on his first state visit to Germany to attend inter-governmental and business talks aimed at strengthening ties and properly handling differences with Berlin. He will also visit Bavaria, home to global brands such as Adidas, Allianz, and Audi, before travelling to France for the Summit for a New Global Financing Pact.
BYD leads China's electric car market, leaving global brands behind.
China's auto market is shifting towards an electric future, with China-made brands leading in key segments, powered by new electric-drive models that are gaining share at home and overseas. BYD, in particular, has seen sales in China rise almost 69% this year, giving it an 11% share of the overall car market, more than the Volkswagen or Toyota brands. The rise of EVs and plug-in hybrids has led to a double whammy for established global brands, with sales down and market share shrinking.
China's Dominance in Electric Cars and Batteries Showcased at Shanghai Auto Show.
China's auto market is shifting towards an electric future, with China-made brands leading in key segments, powered by new electric-drive models that are gaining share at home and overseas. BYD, in particular, has seen sales in China rise almost 69% this year, giving it an 11% share of the overall car market, more than the Volkswagen brand or the Toyota brand. The rise of Chinese automakers in the EV and plug-in hybrid market has left established global brands such as Volkswagen, General Motors, Honda, and Nissan struggling to keep up.
Electric car competition heats up at China auto show.
Global and Chinese automakers are set to unveil over a dozen new electric SUVs, sedans, and muscle cars at the Shanghai auto show, their first full-scale sales event in four years in a market that has become a workshop for developing electrics, self-driving cars, and other technology. Established global brands face intense competition from Chinese rivals, who have been supported by the ruling Communist Party's investment in subsidies to buy an early lead in an emerging industry.
Electric car competition heats up at Shanghai auto show.
Global and Chinese automakers are set to unveil over a dozen new electric SUVs, sedans, and muscle cars at the Shanghai auto show, their first full-scale sales event in four years in a market that has become a workshop for developing electrics, self-driving cars, and other technology. Established global brands face intense competition from Chinese rivals, who have invested billions of dollars in subsidies to buy an early lead in an emerging industry. The ruling Communist Party is winding down government support and shifting the burden to automakers by requiring them to earn credits for EV sales.
Electric car competition heats up at China auto show.
The Shanghai auto show is set to feature more than a dozen new electric SUVs, sedans, and muscle cars from global and Chinese automakers, as they compete to roll out faster, more luxurious, and more feature-drenched electric vehicles in the world's biggest auto market. China's government has invested billions of dollars in subsidies to buy an early lead in an emerging industry, and established global brands face intense competition from Chinese rivals. Beijing is winding down government support and shifting the burden to automakers by requiring them to earn credits for EV sales.