BYD names voestalpine as steel supplier for its Hungarian auto plant
BEIJING, June 25 (Reuters) - Chinese automaker BYD (002594.SZ), opens new tab said it signed an agreement with Austrian steelmaker voestalpine (VOES.VI), opens new tab on Tuesday, selecting it as the steel supplier for BYD's passenger vehicle plant in Hungary.
The cooperation marks an important step in BYD's localisation strategy, the company said in its statement posted on its social media account on Wednesday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
an hour ago
- Reuters
Exclusive: US allows ethane to be loaded and shipped to China, but not unloaded -- letter
June 25 (Reuters) - The U.S. sent letters to Enterprise Products (EPD.N), opens new tab and Energy Transfer (ET.N), opens new tab on Wednesday informing the companies they could load ethane on vessels destined for China but could not unload the ethane at a port in China without authorization, according to a person familiar with the matter and copy of one letter. The letters from the U.S. Department of Commerce follow earlier notifications to the companies that imposed a license requirement on exports of ethane to China. The companies are highly unlikely to risk loading the ethane on vessels and sending them on their way, the person familiar with the matter said. If the vessel makes its way to China, it may be difficult to stop its offloading and the companies risk penalties of up to twice the value of the ethane. "This letter authorizes Enterprise Products to load vessels with ethane, transport and anchor in foreign ports, even a party located in China," the letter said. "However, Enterprise Products may not complete such a party that is located in further BIS authorization." Enterprise Products and Energy Transfer did not immediately respond to requests for comment. The U.S. Department of Commerce also did not immediately respond to a request for comment. The ability to load and begin transporting ethane could relieve congestion at ports like those near Houston, where vessels have stalled amid restrictions on shipping the product to China.
Top Gear
an hour ago
- Top Gear
Blimey, the XC60 is now Volvo's best-selling car… ever
Blimey, the XC60 is now Volvo's best-selling car… ever With the classic 240's benchmark of 2.7 million now broken, how long before the XC60 hits the big three? Skip 7 photos in the image carousel and continue reading Turn on Javascript to see all the available pictures. 1 / 7 Move over, 240, ye old timer. The XC60 is now Volvo's best-selling model yet, with more than 2.7 million sold since its introduction in 2008. Surely a call for some bubbly. In fact, the XC60 has reached the milestone in two fewer years than the old mobile warehouse, which was built between 1974 and 1993. That's an average of over 158,000 units per year - or 435 each day - no doubt helped by the decision to branch the XC60 into the Chinese market in 2014, becoming the first globally sold Volvo to do so. Advertisement - Page continues below The XC60 was also given a facelift a few months back, bringing with it a bigger 11.2in infotainment screen and fancier upholstery choices as part of a reworked interior. As for powertrains, the entry-level mild-hybrid 'B5' gets a 2.0-litre turbo-four and 48-volt battery. They combine for 247bhp and a 0-62mph time of 6.9s. Go one-up, and there's a choice of two plug-in hybrids. The mid-spec 'T6' produces 345bhp and gets to 62mph in 5.7s, while the range-topping 'T8' jumps to 449bhp and does the customary speed run in under five seconds. Thanks to an 18.8KWh battery pack, both can achieve a claimed 51 miles of clean, green driving. If you're interested in supporting the XC60's ascent to world dominion, prices currently start at £48,410 for the mild-hybrid, or £55,360 for the PHEV. Advertisement - Page continues below Top Gear Newsletter Thank you for subscribing to our newsletter. Look out for your regular round-up of news, reviews and offers in your inbox. Get all the latest news, reviews and exclusives, direct to your inbox. Success Your Email*
Reuters
an hour ago
- Reuters
Foxconn nears deal to supply electric buses to Mitsubishi Fuso, Nikkei reports
June 25 (Reuters) - Foxconn ( opens new tab is nearing a deal to supply electric buses to Japanese commercial automaker Mitsubishi Fuso Truck and Bus, Japan's Nikkei newspaper reported on Thursday, citing a source close to the Taiwanese chipmaker. Mitsubishi Fuso, owned by Daimler Truck, plans to sell the Model T bus and Model U microbus, both developed by Foxconn, under its own brand, the report said. Mitsubishi Fuso and Foxconn are looking to create a new company to oversee the buses, according to the report. The Taiwanese chipmaker said in a briefing in April it intends to roll out the Model T and Model U buses in Japan in 2027. Foxconn did not immediately respond to a Reuters request for comment. Daimler Truck declined to comment on the report.
