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2024-01-22

Hyundai Motor Sells Chongqing Plant in China

SOUTH KOREA REPORT

The company sold the plant to Chongqing Liangjiang New Area Yufu Industrial Park Construction and Investment Group, which is owned by the city of Chongqing, and its affiliate will use the plant as a production base for electric vehicles.

Hyundai Motor Company has sold its finished car plant in Chongqing, China, to a Chongqing government-owned company for 1.62 billion yuan (about 33 billion yen, $222 million) in December 2023. Hyundai Motor is rushing to restructure its Chinese business, which has suffered from sluggish sales, and concentrate its management resources in the U.S. and Southeast Asia.

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2022-09-28

South Korea Sees First Trade Deficit with China in 28 Years

FAR EAST: SOUTH KOREA REPORT
Akihiro Komuro
Akihiro Komuro

The economic relationship between China and the ROK has reached a turning point. According to statistics from the ROK, for the first time in 28 years, the ROK has a trade deficit with China. China has been the best customer of the export driven ROK economy, and this is causing concern in the ROK. At the same time, Chinese companies are intensifying their takeover of Korean companies, and in response to the escalation of the U.S.-China conflict, they have begun to pursue a strategy of using Korea as a foothold to capture the U.S. market.

A management official at South Korea’s Hyundai Motor’s joint venture plant in Chongqing, China, said that the passenger car assembly plant is idle and that negotiations are underway to sell it to a Chinese company. Hyundai Motor started operations in Chongqing in 2017, including an assembly plant with an annual production capacity of 300,000 units, but sales slumped due to the rise of Chinese automakers. At one point, the company occupied second place with a market share of nearly 10%, but recently it has fallen below 2% and slumped to 10th place.

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2021-10-23

China Faces Limits on Power and Production

Jack Hao
Jack Hao

The global energy structure has accelerated the adjustment to green energy, and the investment in traditional energy is insufficient. Under the influence of COVID-19, energy supply and demand are disrupted, exacerbating the contradiction between supply and demand, resulting in global power shortage.

China recovered from the epidemic earlier than many other countries and is now almost the only major manufacturer, so industrial power consumption has increased significantly. Power rationing is mainly to alleviate the power shortage and achieve the goal of energy conservation and emission reduction. China is dominated by thermal power generation, and there is a serious shortage of clean energy. There are still big problems in the energy structure.

Source:  Weixunso     Read The Article

PSR Analysis: In 2021, China’s electricity demand will grow by more than 10%, which greatly exceeds the previously estimated demand growth of 6% to 7%. At present, the substantial growth of power demand has put great pressure on power supplies. Coal accounts for about 70% of China’s electricity consumption, but the output of coal is far lower than the demand for electricity.

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2020-10-28

Tesla Cuts Prices of China-Made Cars

Jack Hao
Jack Hao

Taking advantage of new battery options and big government subsidies, Tesla has slashed its Model 3 prices in China. The company’s Chinese website is now advertising a base price for the popular battery-electric sedan of 249,900 yuan, or roughly $36,800.

While this is big news for the company in its efforts to remain dominant in the Chinese market, U.S. consumers won’t be affected…at least, not yet

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2020-08-23

Doosan Sells 10,000 Excavators in China in H1 2020

Doosan Infracore announced that it sold 10,728 hydraulic excavators in China in H1 2020. This is the company’s largest sales volume in nine years since it sold more than 12,000 units in the market in H1 2011. The company sold 1,320 excavators in June, a 23% increase in sales over the previous year.

Akihiro Komuro
Akihito Komuro

China’s hydraulic excavator market suffered a slowdown in the first two months of the year due to COVID-19 but is now consistently showing signs of a rapid recovery. Overall sales in the Chinese hydraulic excavator market exceeded 155,000 units in H1 2020, significantly exceeding the 125,000 units sold nationwide in H1 2019.

Source: Kikai-News (The original article was partially revised by the author.)

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2020-02-26

The Impact of Coronavirus on China Society and Economy – A Personal Perspective

(ST. PAUL, Minn., USA) – Our team members in China face daily challenges as they navigate the myriad regulations and safety measures implemented by local authorities and the national government attempting to control the spread of coronavirus (COVID19).  

Confinement to home is the hardest part.  Schools have yet to re-open after the Spring Festival holiday.  Special IDs proving one is a local resident must be presented when going outside.  Store visits are restricted to one person per household every two to five days, depending on your location. 

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2023-07-26

VI B Emissions Seen Boosting China’s Auto Industry

CHINA REPORT
Jack Hao
Jack Hao

The new national standard for automotive emissions, scheduled to be implemented July 1, 2023, could boost China’s auto industry, say industry insiders.

The Ministry of Ecology and Environment, the Ministry of Industry and Information Technology, and other departments recently issued a joint notice proposing that the National VI Emission Standards for automobiles (National VI B) be implemented nationwide July 1, 2023.

Industry insiders believe that the implementation of the new regulations will drive car companies to accelerate technological upgrading, thereby achieving green and low-carbon development of the automotive industry.

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2023-11-16

China Discovers Unique Battery Material

Guy Youngs
Guy Youngs

A newly discovered ore containing vast quantities of an element widely used in semiconductors has been found in China. The discovery could propel new advances in battery technology.

Geologists have found the rare earth metal niobium inside the new ore named niobobaotite from north China’s Inner Mongolia. The rare earth metal is widely used in alloys for jet engines and rockets and has also been shown to have exceptional current conducting properties in low temperatures.

Researchers have said batteries made from niobium have several advantages over traditional lithium-ion batteries. The Brazilian Metallurgy and Mining Company (CBMM) has been working on new projects towards the use of niobium to make advanced lithium-ion batteries.

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China Auto OEM To Invest in Thai EV Motorbike Plant

THAILAND REPORT

Chinese automotive equipment manufacturer Suzhou Harmontronics Automation Technology plans to build an electric motorcycle factory in Thailand’s Eastern Economic Corridor (EEC), eyeing a market set to grow, thanks to government subsidies.

The company plans to invest $281 million (10 billion baht) to secure annual production capacity of 150,000 units by 2028. The plans were revealed by the office of the EEC.

Suzhou Harmontronics will build the factory at an industrial park in Chonburi Province, within the EEC zone, and will assemble electric motorcycles and manufacturing replaceable batteries and charging equipment at the facility. A start date for operations was not disclosed.

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2023-05-21

China’s Changan Auto To Build EV Plant in Thailand

SOUTHEAST ASIA: THAI REPORT

Changan Automobile Group, a major Chinese automobile manufacturer, will establish a new plant for electric vehicles such as EVs in Thailand, according to the Board of Investment of Thailand (BOI). The investment will be US$ 284 million (9.8 billion baht or about 38 billion yen), and construction is expected to be completed within a few years. The initial production capacity will be 100,000 vehicles a year, and on-board batteries will also be manufactured. The Thai government has established an incentive program to encourage local production of EVs, and Chinese EV giants have been actively investing in the country.

In addition to EVs, the new plant will produce electric vehicles such as HVs and PHVs. The company plans to supply vehicles to Southeast Asian countries, Australia, South Africa, and other markets.

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