Sinkhole in China swallows cars, injuring 3 people
A sinkhole opened suddenly on a road in Hebei province, swallowing two vehicles and injuring three people.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
15 hours ago
- South China Morning Post
China's Geely to stop building new car plants amid severe global overcapacity: Li Shufu
Geely Auto , the mainland's second-largest carmaker, will not build new plants amid excess capacity worldwide, a move that is likely to ripple across the sector as most Chinese companies are finding it difficult to make profits. Chairman Li Shufu told the Chongqing Auto Show over the weekend that the company would avoid building excess capacity and instead focus on improving its technological capabilities to become a key player in the future of mobility. 'The global automotive industry is mired in severe overcapacity woes, [so] we have decided to stop building new car plants,' he said in a video clip posted online. His comments came as carmakers were mired in a brutal price war on the mainland. Leading players such as BYD , Geely and start-up Leapmotor slashed prices of 70 models by as much as 20 per cent in the last week of May to retain market share, according to the 21st Century Business Herald newspaper. Geely Auto chairman Li Shufu told the Chongqing Auto Show over the weekend that the company will stop building new car plants. Photo: Handout Chinese carmakers' discounts more than doubled to a record 16.8 per cent in April from 8.3 per cent in 2024, according to a JPMorgan Chase report in May.
South China Morning Post
16 hours ago
- South China Morning Post
Sinkhole in China swallows cars, injuring 3 people
A sinkhole opened suddenly on a road in Hebei province, swallowing two vehicles and injuring three people.
South China Morning Post
17 hours ago
- South China Morning Post
Hong Kong can support taxi sector by using levies to create fund: Uber executive
Hong Kong's taxi trade and ride-hailing services can work together on the same platform, Uber's global head of public policy has said, while suggesting that authorities look at how other jurisdictions have adapted and used levies to set up a fund to support cabbies. Advertisement In an interview with the Post, Andrew Byrne said that Hong Kong could learn from Australia's use of a A$1.2 (78 US cents) levy, initially set at A$1, on ride-hailing and taxi services to compensate cabbies impacted by the legalisation of online ride-sharing platforms. 'So, I think, perhaps referring to a scheme that exists in Australia at the moment, where in every taxi ride and every Uber ride there is an A$1 fee that is collected as part of that service, and that goes into a fund to help taxi drivers with any hardships they encounter as part of the transition to a new kind of service,' he said. Under the policy, which was introduced in 2018, Uber is required to collect the levy on behalf of the government and pay it into the fund. A similar idea has already been submitted to Hong Kong authorities for its planned regulatory regime for online ride-hailing service platforms. Advertisement Byrne also said that the licensing fee for registering ride-hailing drivers should not be too high, or it would deter people from joining the trade.
