Latest news with #21stShanghaiInternationalAutomobileIndustryExhibition
CNBC
07-05-2025
- Automotive
- CNBC
CATL likely to offer less than 10% discount for $5 billion Hong Kong listing: Reuters
CATL booth is seen during the 21st Shanghai International Automobile Industry Exhibition (Auto Shanghai 2025) at the National Exhibition and Convention Center (Shanghai) on April 26, 2025 in Shanghai, China. Prospective investors in Chinese battery giant CATL's Hong Kong listing to raise about $5 billion have been told the stock may be sold at a discount of less than 10% to the company's Shenzhen-listed shares, according to three sources with direct knowledge of the matter. The discount offered could be around mid-single digits, two of the sources added. CATL is meeting investors ahead of launching the book building for the deal next week that could be the largest new share sale in Hong Kong for four years. Investors are pushing CATL to price the Hong Kong shares at least a 10% discount to the Shenzhen-traded stock, one of the sources and a fourth person told Reuters. The pricing has not been finalized, the sources said. CATL wants to have cornerstone and anchor investors subscribe for around half the shares to be sold in the deal, two of the sources added. The sources could not be named discussing information that has not yet been made public. CATL did not immediately respond to a request for comment from Reuters. CATL shares were trading 2.33% higher on Wednesday at 237.08 yuan. However, the stock has fallen nearly 11% this year. China's CSI300 index was up nearly 0.5%. Hong Kong shares typically trade at a discount compared to mainland stocks. Investors are usually offered stock at a cheaper price in offshore listings like this as an incentive to buy into the share offering. Midea Group priced its Hong Kong shares at about a 20% discount when it raised $4 billion in a listing in September last year. The battery giant's listing would be the largest in Hong Kong since 2021, when Kuaishou Technology raised $6.2 billion in an initial public offering. CATL has previously said in a regulatory filing that part of the funds raised will be used to build a 7.3 billion-euro ($8.28 billion) battery plant in Hungary.
Malaysia Sun
29-04-2025
- Automotive
- Malaysia Sun
Economic Watch: Wheels to wings: Chinese automakers challenge frontiers of mobility
SHANGHAI, April 29 (Xinhua) -- At the ongoing 21st Shanghai International Automobile Industry Exhibition (Auto Shanghai 2025), Chinese new energy vehicle (NEV) maker XPENG's humanoid robot, IRON, stole the spotlight by debating the merits of the company's self-developed flying car with its creator, CEO He Xiaopeng. Combining an electric road vehicle with an electric vertical takeoff and landing (eVTOL) air module, the model has already garnered nearly 5,000 pre-orders since its debut at Airshow China last year. Deliveries are scheduled to commence in 2026. "This is the Land Aircraft Carrier, the first-ever mass-produced flying car. The tech is absolutely next-level!" IRON said, raising its left hand and giving a thumbs-up to its audience. This fusion of robotics and aerial mobility signals a tectonic shift: China's auto industry is no longer confined to four wheels, with automakers breaking the mold and re-imagining mobility. And with embodied AI, cars aren't just evolving -- they're branching out into the areas of flying vehicles and humanoid robotics, forging a futuristic trio for the AI era. BEYOND WHEELS Behind this technological spectacle is an impressive industry performance. Official data showed that China's auto production and sales both saw year-on-year growth exceeding 10 percent in the first quarter, and its low-altitude economy, according to industry analysts, is rapidly approaching the 1-trillion-yuan (about 138.8 billion U.S. dollars) milestone, growing at a compound annual rate of nearly 30 percent. "The intelligent automotive sector is evolving into an aggregated intelligent industry," said Zhang Yongwei, vice chairman and secretary-general of NEV industry think tank China EV 100. "Smart vehicles stay on roads, flying cars ascend to low-altitude skies, and humanoid robots embody AI-driven mobility." This three-pronged vision materialized at the show: Chery's "three-body" composite-wing flying car attracted Southeast Asian buyers seeking island-hopping solutions, while GAC Group showcased its third-generation GoMate robot capable of navigating factory floors, with its six-hour battery life powered by auto-grade energy systems. "Our humanoid robot, Mornine, is now serving as a digital shopping assistant at Chery's dealerships in Malaysia," a company representative said, adding that following its rollout in Malaysia and Russia, Chery aims to have Mornine present in all of its dealerships worldwide. FAW Group unveiled its Hongqi-branded flying car at the show, featuring a flight range of over 200 kilometers and an intelligent cockpit system that delivers real-time voice and visual data to reduce operational complexity. The Changchun-based automaker confirmed that the vehicle will make its maiden flight this year, with development adhering to strict aviation safety standards. "Future auto shows won't just feature cars, they'll showcase more cutting-edge tech and embodied AI," He Xiaopeng said, drawing parallels to the early days of NEVs a decade ago. While flying cars and humanoid robots are still in their nascent stages, the tech entrepreneur feels confident in their rapid growth within the coming decade. SYNERGY UNLEASHED Smart cars, flying vehicles and humanoid robots share common technical foundation and supply chains. Analysts say that eVTOLs can share up to 80 percent of their supply chain with electric vehicles, leveraging China's mature EV supply chain for cost efficiency. "Smart vehicles, eVTOLs and robots share the same fundamental roots," Zhang said, adding that the control architectures, key hardware chips and software platforms developed for intelligent vehicles can be adapted for eVTOLs directly, with many components also transferable to humanoid robots. This technological synergy has been affirmed by many industry insiders. Aptiv China and Asia Pacific President Yang Xiaoming described flying cars as "electric vehicles that fly," saying that they bridge automotive electrification and aviation compliance. And startups like Digua Robotics see cars as "four-wheeled robots." "Autonomous driving systems -- cameras, radar and AI chips -- are identical to robotics," Digua CEO Wang Cong said. Bolstered by thriving aviation, NEV, 5G and AI industries, China's flying car sector has built a solid industrial foundation, achieving technological parity with global competitors and even leading in certain areas. The inexorable logic of scale also persists. With 30 million vehicles produced annually, Chinese automakers can slash costs for niche products like flying cars and robots. For example, GAC's GoMate robots are now capable of handling full vehicle production tasks in its auto plants, creating a self-contained business ecosystem within the automaker. BRIGHT HORIZON After 40 years of evolution, the Shanghai auto show has cemented its position as the world's premier automotive exhibition in both scale and prestige. "The exceptional visitor enthusiasm at this year's event speaks volumes about the robustness of China's industrial ecosystem and the magnetic pull of its economy," said Gu Chunting, vice chairman of the Council for the Promotion of International Trade Shanghai, which organized the event alongside the China Association of Automobile Manufacturers. From Toyota's 2-billion-dollar Shanghai EV hub to BMW's deepened partnerships with Chinese tech companies like Huawei and DeepSeek, global players are anchoring themselves in China's mobility metamorphosis. "China has emerged as the world's foremost proving ground for electric and intelligent vehicle transformation over the past 10 years," said Guan Mingyu, a senior partner at McKinsey & Company Greater China, noting that the Chinese market's evolution in these sectors will reshape global automotive technology roadmaps, business architectures and competitive dynamics through the next decade. From wheels to wings and robots, China's auto industry is pioneering a smart ecosystem powered by cross-sector synergy and industrial scale. The country's eVTOL industry is approaching the threshold of mass production and scaled deployment, and its humanoid robotics are just beginning to show growth potential. "China's low-altitude economy hit its stride since last year," said Zhao Deli, founder of XPENG's flying car affiliate, Huitian. "Policy tailwinds, infrastructure rollouts and maturing supply chains are fueling growth, especially in drone logistics, air taxis and emergency services." Zhao noted that China's low-altitude tourism sector, though still small-scale due to infrastructure gaps and high costs, holds strong growth potential. Fueled by rising demand, it could become both a tourism highlight and a driver of regional economic development. "More supportive policies will energize the market, channeling greater resources into infrastructure development, investment and consumer engagement," he added.
Malay Mail
27-04-2025
- Automotive
- Malay Mail
China Speed: How Zeekr's robotic revolution is reshaping the global auto industry
NINGBO (China), April 27 — In fluid synchronisation, dozens of robotic arms picked up metal parts and welded them onto vehicle beds, as car skeletons gradually took shape and progressed along an automated factory floor near the eastern Chinese city of Ningbo. Across the country, car models rolling off assembly lines like this have gone from concept to release in record time – known in the industry as 'China Speed', the envy of foreign competitors. At EV firm Zeekr's vast Ningbo plant, advanced robotics and artificial intelligence have been leveraged at every stage of the manufacturing process to save huge amounts of time and money. In the casting shop, a robotic arm that towered over the human foremen supervising it picked up a freshly made piece of aluminium and dunked it into a vat of water, sending steam hissing out, before passing the metal to another machine to cut and press it. The factory still employs around 2,500 workers to do some delicate tasks and for quality control. But the heavy lifting is done by hundreds of tireless robots, with some processes going on 24 hours a day. And it's not just manufacturing that has been accelerated. Zeekr has a research and development base in Sweden, which allows workloads to be shared across timezones. Its parent company, Geely, also owns Swedish automaker Volvo. In the factory's car park, hundreds of gleaming, plate-less Zeekr 7X SUVs stood ready to be transported to dealerships. 'The future is our history,' read a slogan above the entrance hall. 'Make-or-break moment' Factories and companies like this have set a new pace in the industry. 'We are at a make-or-break moment for established global automakers,' a recent report by consulting firm Bain & Company said. En route to the factory, AFP saw lorries carrying brand new Zeekr cars headed to Ningbo's huge port, bound for export to places like Australia. The most innovative Chinese manufacturers spend less than a third of that spent by traditional competitors to develop new vehicles, the Bain report said. While legacy automakers often take 48 to 54 months to bring out new models, the timeline for younger brands is more like 24 to 30, it added. Some of Zeekr's models only took 15 months to develop, a spokesman told AFP. The results are clear in the sheer choice available to consumers: There are currently 2,755 models on offer from 163 brands in the Chinese market, authorities say. Visitors are seen in the Zeekr stand during the 21st Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Centre in Shanghai, China on April 24, 2025. — AFP pic At industry show Auto Shanghai, which opened Wednesday, more than 100 new models were launched. Jostling in the pack were not just Chinese firms like Zeekr, BYD and Chery, but also foreign rivals hitting the gas to catch up. Volkswagen and Nissan launched tens of new models developed 'in China for China' at the show, with executives insisting they had adapted to 'China Speed'. The acceleration has been helped by the shift towards EVs, disposing of the complex internal combustion engine. 'You start by designing the car virtually, making as few prototypes as possible, so you can move very quickly,' BCG consultant Mikael Le Mouellic told AFP. Design and engineering will then work hand-in-hand, and often 'reuse recipes that work', he added. Zeekr's 'Sustainable Experience Architecture', for example, can be the bed for A-class to E-class cars, saving time and money. Three years to nine months Foreign suppliers have also had to adapt. Traditionally, companies could take up to three years to design, for example, a new headlamp, said Michael Fischer, boss at French automotive parts maker Forvia. 'In China that doesn't work,' he said. Now, 'we have a process that is going to be very organised, that's going to secure for quality, but can bring up a new headlamp in as little as nine months'. At competitor Valeo's factory in Changshu, north of Shanghai, four large robots assembled LED headlamps for Zeekr and other brands. 'We don't work 24/7!' joked Valeo's innovation manager in China, Gu Jianmin. 'But we use existing solutions, and we work upstream with the automakers.' Development and durability tests that 'would have taken months' are helped along by AI and other technology. 'Chinese manufacturers are a little more demanding. But foreigners are trying to catch up,' said Gu. 'To emerge in China, you have to be at the same level as the locals.' — AFP
Japan Forward
24-04-2025
- Automotive
- Japan Forward
Remade in China? Japan's Auto Industry at a Crossroads
CAPTION: A Lexus electric vehicle on display at the Shanghai Motor Show. April 23, Shanghai, China (©Reuters) The 21st Shanghai International Automobile Industry Exhibition opened on April 23. It showcases the rapid rise of Chinese automakers, driven by strong government support for electric vehicles (EVs) and other new energy technologies. Amid mounting challenges, Japanese automakers like Toyota are staging a comeback by doubling down on localization in China. With added uncertainty from policies such as the United States' auto tariffs under Donald Trump's administration, the outcome of the competition with Chinese manufacturers remains unclear. "China is now a leading market in advanced technologies such as electrification and intelligent systems," emphasized Li Hui, General Manager of Toyota China, at a local press event on April 23. EV adoption and artificial intelligence (AI) utilization have advanced in China, and domestic manufacturers continue to gain momentum. According to the China Association of Automobile Manufacturers (CAAM), the share of Chinese brands in passenger car sales, which hovered around 40% until around 2020, has now surged to nearly 70%. In contrast, foreign manufacturers are struggling. In 2025, South Korea's Hyundai and Kia opted not to participate in the show. Chinese media reported this as a "strategic decision" to prioritize the US market over China, where sales have been sluggish. The logo of South Korea's Hyundai Motor Company displayed at a car dealership in Miami, United States (Getty/Kyodo). Japanese carmakers are scrambling to overhaul their strategies. In February, Toyota announced it would build a new EV factory for its luxury brand Lexus in Shanghai, with production expected to start in 2027. The goal is to quickly deliver EVs tailored to local demand. Honda also opened dedicated EV factories in Wuhan (Hubei Province) and Guangzhou (Guangdong Province) in 2024. Chinese automakers are also emerging as formidable rivals in overseas markets. According to the CAAM, China exported 5.85 million vehicles in 2024, a dramatic rise from 1.02 million in 2019. BYD, China's largest EV maker, built a new factory in Thailand in 2024 and is expanding its overseas production and sales network. The company aims to more than double its overseas sales this year to over 800,000 units. The intensifying tariff war between the US and China is another critical factor in the Chinese market. Ford Motor Company has reportedly halted exports of vehicles made in the US to China, while Tesla has stopped accepting new orders in China for some models produced in its US factory. So far, however, the impact on Chinese automakers appears limited. Chinese media report that only about 116,000 Chinese-made vehicles were exported to the US in 2024, less than 2% of total exports. Chinese firms are focusing on markets outside the US, such as Europe, which means American manufacturers could be more affected in terms of exports to China. Still, with the US government reportedly pressing its trade partners to restrict trade with China, Chinese manufacturers have little reason for optimism. (Read the article in Japanese .) Author: Shohei Mitsuka, The Sankei Shimbun
Daily Express
23-04-2025
- Automotive
- Daily Express
Auto Shanghai showcases new EV era despite tariff speedbumps
Published on: Wednesday, April 23, 2025 Published on: Wed, Apr 23, 2025 By: AFP Text Size: A GAC Group's Trumpchi COVE flying car is displayed at the 21st Shanghai International Automobile Industry Exhibition in Shanghai. (AFP pic) SHANGHAI: The world's largest auto expo opened its doors Wednesday in Shanghai, showcasing the new electric world order even as mounting trade barriers risk dampening China's global ambitions. With nearly 1,000 exhibitors present, foreign carmakers are raring to show they can keep pace with the ultra-competitive Chinese firms that dominate the sector's electric frontier. Vying to shore up sliding sales in a market they used to dominate, German companies on Wednesday pitched themselves as building cars 'in China for China'. Volkswagen, the largest foreign group operating in the country, unveiled a series of new electric vehicles and a driver assistance system developed especially for the Chinese digital ecosystem. The group says it will launch more than 20 electric and hybrid models for the country by 2027. At the BMW booth, a foreign executive conducted a conversation in Mandarin with an AI assistant, before CEO Oliver Zipse rolled onstage in a futuristic white SUV from the upcoming 'Neue Klasse' series. A separate version specifically tailored for China will be launched next year. 'At BMW we will continue to advocate for… open markets,' Zipse said, adding that 'global challenges require global cooperation' in an apparent reference to the current trade turmoil set in motion by the Trump administration. Cut-throat competition Foreign brands are up against cutthroat competition from dozens of local rivals. Beijing's historic backing of EV and hybrid development has seen the domestic market flourish, with analysts considering it younger-leaning and more open to novelty. Auto Shanghai, which runs until May 2, will see a flurry of launches – luxury SUVs, saloons and multi-purpose vehicles. Exhibitors at the show range from state-owned behemoths, start-ups such as Nio and Xpeng, tech giants with skin in the game such as Huawei, and consumer electronics-turned-car company Xiaomi. The domestic contest has pushed Chinese companies to develop faster and fostered technological innovation. On Wednesday, Nio CEO William Li presented the flagship ET9, powered by two proprietary smart driving chips. Xpeng unveiled AI battery technology it said would deliver a 420km range in just 10 minutes. However, the effect of the crowded market on individual companies can be harsh – some start-ups have already gone bust, while brands including SAIC Motor, BYD and Geely are engaged in a brutal price war. Many Chinese automakers have looked to grow their overseas sales in markets such as Europe, Latin America and Southeast Asia to safeguard their future. Last year, China exported 6.4 million passenger vehicles, more than 50% above second-ranked Japan, according to consultancy AlixPartners. There are still potential roadblocks though. Nio on Tuesday said it had underestimated the difficulties of expanding into Europe, blaming logistical hurdles and noting tariffs would have an impact on price competitiveness. Tricky tariff terrain Tariffs will also be on the minds of foreign companies who make cars in China themselves, such as the US' General Motors and Ford. Beijing and Washington are at an impasse after President Donald Trump's tariff policy triggered a tit-for-tat escalation between the two superpowers, leading to staggeringly high reciprocal levies. Since last year, Chinese carmakers have also faced extra duties from the EU, which says state support has unfairly undercut its own automakers. However, exports to Russia and the Middle East have helped cushion these and other tariff impacts, AlixPartners said Tuesday. And although the levies will increase the cost of China's vehicle component exports by about 24%, 'this represents only about 3.8% of China's total auto industry production value', it noted. Other speedbumps are internal. China's post-pandemic recovery has wobbled, with low domestic consumption a persistent issue, while concerns have been raised about overcapacity. However, 'anyone who says that China is becoming less important and weaker should look at Shanghai', warned German automotive expert Ferdinand Dudenhoeffer in a note on Tuesday. 'The opposite is true. If our car industry wants to recapture the successes of the past, it must become more Chinese.'
