Latest news with #9X
Yahoo
19-05-2025
- Business
- Yahoo
Boeing, GE and Trump's Middle East trip to remember
President Donald Trump is getting high marks for his diplomacy during his Middle East visit, but it's his wheeling and dealing for Boeing and GE Aerospace that left investors cheering. Boeing shares tacked on 5.6% this week, while GE added nearly 8% after Qatar Airways announced an order of 210 widebody jets, the largest ever for America's plane maker, valued at $96 billion, according to the White House. In an expanded deal with Qatar, GE will provide 400 engines to power Boeing's 777-9 and 787 aircraft. Air Force One Vs. Qatar's Plane Gift To Trump For Boeing investors, the deal more than steadies the plane maker, which has been marred by controversy over quality, safety and production lapses. "Let the good times roll," Jefferies analyst Sheila Kahyaoglu wrote in a May 14 research note, reported by Seeking Alpha. "Boeing is largely sold out for the next couple of years and, in some instances, into the end of the decade," she added. Read On The Fox Business App Trump's Overweight Friend Helped Shape Policy To Cut Drug Prices Boeing CEO Kelly Ortberg, who took over in August and accompanied Trump on his trip, highlighted the deal, which will create 400,000 jobs. "All of these aircraft will be built in the United States, creating a significant number of jobs," Ortberg said. GE Aerospace CEO Larry Culp, who was also on the trip, discussed the specifics of the order as Boeing's exclusive engine provider. "Our GE NX, which powers the 787, the fastest-selling high thrust engine in history, and our new 9X will power the 777X, which will be the largest commercial engine in the world" he noted. The majority of analysts are bullish on both stocks, as tracked by ThomsonOne. Of the 29 who cover Boeing, 20 rate the shares a buy or strong buy compared to eight who rate them as a hold and one a sell. GE Aerospace has a similar profile. Nineteen of the 21 analysts rated the shares a buy or strong buy with one sell rating. Both stocks are outperforming the S&P 500, which is now up 1% this year, recovering from tariff-driven volatility. Boeing shares have gained nearly 20% this year. While shares of General Electric, parent of GE Aerospace, have gained 37%. After this blockbuster Qatar deal, the two companies secured $14.5 billion from Abu Dhabi's Etihad Airways for the 787 and 777X, the White House announced. How Boeing Bungled Air Force One Contract While shilling for Boeing, Trump did give the company a jab over its delay of Air Force One, which encouraged the president to accept a gift of a $400 million used 747 jet from Qatar. "They are very late with the plane," Trump told Fox News' Sean Hannity. During his weeklong trip Trump secured over $2 trillion in deals from Middle East allies. The White House said that included a "$600 billion investment commitment from Saudi Arabia, a $1.2 trillion economic exchange agreement with Qatar, $243.5 billion in U.S.-Qatar commercial and defense deals and $200 billion in U.S.-United Arab Emirates commercial deals."Original article source: Boeing, GE and Trump's Middle East trip to remember Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-05-2025
- Automotive
- Yahoo
Chinese Automakers Are Moving at Astonishing Speed—but Not with the US
'There were 1,000 exhibitors and 93 world debuts,' a Chinese auto analyst said of the Auto Shanhai expo, which ends this week. 'I talked to a Canadian dealer group, which concluded that the US-Canada relationship was now severely damaged,' Tu Le said. 'They were looking to bring Chinese cars into Canada.' Missing from Auto Shanghai this year was Hyundai/Kia/Genesis, as well as upscale brands such as Ferrari, Lamborghini, Maserati, and Rolls-Royce. Western automakers aren't moving fast enough to catch up with what's happening in China, and business trends these days are moving east to west. That's the perspective of Tu Le, founder and managing director of the Sino Auto Insights consultancy. Le spoke with Jamie Butters of Automotive News for an Automotive Press Association webinar this week during Auto Shanghai, which runs through May 2. For perspective, Le pointed out that the just-concluded New York International Auto Show took up approximately four football fields, but the biennial Shanghai car expo occupied 17. 'There were 1,000 exhibitors and 93 world debuts,' he said. 'In three days, I walked 19,000 steps each day.' Some 271 'new energy' (electric) cars were on display, and Le made it clear that while some internal-combustion models were present, they're no longer the focus of Chinese auto shows. Le said the Shanghai show was 'business as usual, just not with the United States. I talked to a Canadian dealer group, which concluded that the US-Canada relationship was now severely damaged. They were looking to bring Chinese cars into Canada.' Le described German auto executives checking out the fit and finish on the new Chinese models and registering amazement at features like excellent paint quality and even panel gaps. Geely's fast-moving brand Zeekr, which had a major exhibit at CES this year, conducted its Shanghai event 'entirely in English,' Le said. 'It's like Chinese EV makers are having a coming-out party and are trying to get the attention of the rest of the world. There were people there from Brazil and the Philippines. There were dealer groups from the Middle East talking to Zeekr.' Zeekr's premium halo car is the minivan-like 9X, shown with the interior blacked out and as-yet unfinished. The big 9X (which is getting comparisons to the Range Rover and Rolls-Royce Cullinan) is a luxurious plug-in hybrid with long-range CATL batteries allowing approximately 170 miles of real-world all-electric range. The 2.0-liter turbo four engine combines with electric power to produce 150-mph capability, up to 885 hp, and three seconds to 60 mph. The Chinese market loves sub-brands, and both Buick (Electra, a name with a past) and Nio (Firefly) have them. Firefly, with swappable batteries and announced last year, is aimed at younger buyers in Europe with small urban EVs, taking on Mini and Smart. Prices in China start at $16,470. Electra is for the Chinese market with a range of electrified models. Missing from Auto Shanghai this year was Hyundai/Kia/Genesis, as well as upscale brands such as Ferrari, Lamborghini, Maserati, and Rolls-Royce. 'Ultra-luxury is experiencing a downturn in the Chinese market,' Le said. And Korean brands are struggling in China, with just a 1.6% market share as of late 2024, according to Citroën and Peugeot were also conspicuous by their absence. One decided oddity is Audi rebranding in the Chinese market as, well, all-caps AUDI. The idea is to distinguish the new models from the legacy 'four rings' Audi. 'Audi carries a negative connotation in China because models like the 6L were associated with government officials,' Le said. 'On top of that the electric e-trons are seen as overpriced and underwhelming. Audi rebranded and jettisoned the four rings to get away from its old reputation.' Ringless AUDI is a joint venture with Chinese automaker SAIC. Again, it's the transparent speed of the Chinese automakers that's astonishing. Volkswagen said it will introduce with partner FAW Group six new EVs, two plug-in hybrids, and two range-extended EVs in China starting in 2026. But Nio plans to announce nine new and refreshed vehicles for its three brands in 2025, alone. 'VW's pace seems pretty slow for the Chinese market,' Le said. What can legacy automakers learn from the booming Chinese auto industry? Please comment below.
CNBC
30-04-2025
- Automotive
- CNBC
CNBC's The China Connection newsletter: A tech boom is underway
China's tech world isn't getting distracted by whether the U.S. and China will talk on trade. From new artificial intelligence models to the world's largest auto show, Chinese tech companies are flaunting new developments thick and fast. Online delivery companies and Meituan are even publicly waging a competition for users, evoking the heyday of China's internet boom that spawned Alibaba. At the opening of the Shanghai auto show on April 23, Chinese electric vehicle giant BYD announced five new models and Zeekr debuted its new hybrid 9X SUV. Robotaxi operator showed off three new vehicles that it claimed would slash costs for autonomous driving by 70%, helping the U.S.-listed company move closer to profitability. A day earlier, Huawei announced that this year, its latest driver-assist system will be able to automatically park a car, similar to valet service at a restaurant. Huawei sells the software to electric car manufacturers. "The intense competition has pushed innovation in [China's new energy vehicles] ... things we thought were still a decade away, are more or less now at our fingertips," said Tu Le, founder and managing director at consulting firm Sino Auto Insights. He pointed to examples such as high-speed charging and driver-assist systems in mass market cars. Generative AI and supportive Chinese policy have both played a role in local tech development. IQiyi, dubbed China's "Netflix," last week in Beijing touted its AI tools for cutting production costs and refining scripts. The company showed off its virtual studio set, and how generative AI can quickly transform the style of a TV show with human actors to one using 3D animation. "This conversion effect was not achievable last year, or even in March," Liu Wenfeng, president of iQiyi's infrastructure and intelligent content distribution business group, told reporters in Mandarin, translated by CNBC. "It's only recent technology that can achieve better consistency and stability in [generating] images." But he cautioned that AI still has a long way to go for it to generate videos that show actors, products and scenes with the same consistency as a live-action shot. In the meantime, he said virtual production and AI-supported efficiencies allow the company to respond more quickly to audience interests. Other Chinese companies are also trying to use AI for video. On April 15, Chinese short-video company Kuaishou released an update to its AI video generation model, Kling, spurring worries from media blog The Ankler about the consequences for Hollywood. A few days after the Kling upgrade, Alibaba released its latest open-source AI video generation model, while Beijing-based startup Shengshu Technology upgraded AI video product Vidu Q1, which claims to "rival cinematic-grade visual effects." Alibaba on Tuesday also released its latest AI model, Qwen 3. "We're seeing a significant acceleration in AI investment in China," said Tim Wang, co-founder of Hong Kong-based Monolith Management, where he manages a $400 million public equity fund. "Key breakthroughs in foundational models are closing the gap with global leaders," he said, "and we're optimistic about the future of consumer AI applications, regardless of current trade headlines." Chinese companies are also turning to e-commerce and tech tools to mitigate the impact of tariffs. Several hundred exporters are now using tech company Baidu's AI-powered virtual human tool to sell products online via livestreams, said Xiaoli Ping, Baidu vice president and general manager of its e-commerce business. She claimed the tech cuts livestreaming costs by more than 80%, and can generate a higher purchase rate than employing human livestreamers. Baidu last week released what it claims is a "more persuasive" virtual human, as well as new AI models that are even cheaper to use than prior versions. Excitement around Chinese AI picked up in late January after homegrown DeepSeek released a free AI model and chatbot that rivaled OpenAI's ChatGPT. That breakthrough shattered perceptions that U.S. restrictions on China's access to advanced semiconductors would limit local AI development. Particularly for startups in critical tech industries, the Chinese government has many policies to help them connect with local suppliers and receive financing, said Beiping Tan, general manager at Beijing-based Tourongbang Management Consulting. China has also increased its efforts to develop and train talent, he said. His consulting firm has highlighted state policies for attracting individuals from outside China, especially those with doctorate degrees in engineering and natural science. Individual benefits include a 3 million to 5 million yuan ($410,000 to $690,000) one-time payout and an 800,000 yuan rental subsidy, while the employer can also receive subsidies for the majority of the individual's salary and 3 million yuan in research funding. DeepSeek and other Chinese tech breakthroughs this year are the cumulation of years of research spending and education development, pointed out Ding Wenjie, investment strategist for global capital investment at China Asset Management Co. "We believe China will have more homegrown champions to surprise the world in the future." Even if that prediction comes true, that doesn't mean it will be a straight path up given the overall economic headwinds. Goldman Sachs pointed out that first-quarter industrial profit data indicated there was no growth outside of high-tech industries. China didn't meet all its lofty "Made in China 2025" targets set a decade ago, the European Union Chamber of Commerce in China said, noting the policy also fueled unhealthy overproduction in certain sectors. Intense competition in China's EV industry has also meant its development has plateaued for now, said Yichao Zhang, partner at consulting firm AlixPartners. He pointed out that automakers will need to work harder to create distinctive brands, traditionally the edge of foreign companies. But as China's rapid transformation into a global EV leader has shown, Zhang expects the Chinese dominance of the local market — and their international ambitions — to continue regardless. Ordering a robotaxi ride on WeChat may soon be possible, says CEO Co-founder and CEO James Peng talks to CNBC's Lin Lin about the company's tie-up with Chinese tech giant Tencent and the robotaxi push in China. Nio's CEO is confident the firm will break even in 2025 despite brutal competition Nio CEO William Li tells CNBC's Lin Lin that he's upbeat about improving the company's gross margin and breaking even in fourth quarter this year despite tariffs and cut-throat competition. Treasury Secretary Scott Bessent: It's up to China to de-escalate trade tensions Treasury Secretary Scott Bessent joined CNBC's "Squawk Box" to discuss the latest developments on President Trump's trade negotiations with other countries, the state of tariff negotiations with China, how soon countries will reach trade deals with the U.S., and more. China released a plan to encourage companies to hire more recent graduates. The greater emphasis on employment support came after a high-level Politburo meeting on April 25 that called for targeted measures to help businesses in face of trade tensions. U.S. President Donald Trump claims he talked to Chinese President Xi Jinping. But there's no date and Beijing is saying there isn't any contact. Meanwhile, Xi emphasized AI and tech development during a trip to Shanghai on Tuesday. A few days earlier, China's finance minister and central bank governor were both in Washington, D.C., for the International Monetary Fund and World Bank spring meetings. China is ramping up its alternative energy development to reduce reliance on U.S. crude. The country on Monday said it approved five nuclear power projects, while releasing plans to develop hydrogen energy research and services this year. Chinese and Hong Kong stocks swung between gains and losses in a choppy session on Wednesday. Mainland China's CSI 300 was flat while Hong Kong's Hang Seng Index — which includes several major Chinese companies — was up 0.22% as of 11:20 a.m. local time. The CSI 300 has lost over 4% while the Hang Seng Index has gained nearly 10% so far this year. The benchmark 10-year Chinese government bond yield was slightly down at 1.625%. The offshore Chinese yuan was marginally stronger at 7.266 against the greenback. May 1 - 5: Labor Day holiday in China. Mainland stock exchanges closed. Hong Kong stock exchange closed May 1 and May 5. May 2: U.S. ends de minimis duty-free treatment for imports of Chinese goods at or under $800
Yahoo
29-04-2025
- Automotive
- Yahoo
The Next Generation of Cars Debuts in China
The Shanghai Auto Show isn't just alive and well — it's thriving. As American car shows shrink and shift online, Shanghai has become the stage where automakers from around the globe showcase their latest and most ambitious creations. This year's show delivered an impressive mix: electric wagons, burly off-roaders, luxury SUVs, and sleek sedans built specifically for China's fast-changing market. While it's impossible to cover every debut, these are some of the coolest, most important cars that stole the spotlight at Shanghai 2025. Geely's premium brand, Zeekr, continues to shake up the market with bold designs, and the new 9X SUV is no exception. Taking inspiration from the flashy 009 minivan, the 9X wears an upright front fascia and a large chrome grille that exudes presence. It's not just a pretty face either. Underneath, the 9X houses a plug-in hybrid powertrain offering a staggering 236 miles of all-electric range. Even more impressive? Zeekr claims it can sprint from 0 to 62 mph in just 3.0 seconds. Thanks to an air suspension setup, drivers should also expect a smooth, cushy ride. And when it's time to recharge, the 9X can juice from 20 to 80 percent in just nine minutes, a game-changer for family road trips. Audi — or rather, AUDI, the name of its new China-exclusive sub-brand — unveiled the E5 Sportback, an electric wagon that blends speed, style, and tech. Measuring about two inches shorter than the A6 Avant, the E5 Sportback stays true to Audi's sharp design language. The top-tier model is a powerhouse: 776 horsepower, 0-62 mph in 3.4 seconds, and a claimed range of 479 miles from its 100-kWh battery. Inside, the vibe is minimalist but high-tech, centered around a sprawling 27-inch digital display stretching across the dash. The E5 Sportback shows that wagons can still be cool, even in the age of electric SUVs. Mazda pulled the covers off the new EZ-60, an SUV designed in collaboration with Chinese automaker Changan. Sized between a CX-50 and a CX-70, the EZ-60 takes Mazda's signature clean design philosophy and applies it to a future-forward EV. Buyers will be able to choose between a fully electric model, boasting a 372-mile range, or a plug-in hybrid version that can stretch up to 621 miles. The cabin is a feast for tech lovers, anchored by a massive 26.5-inch, 5K-resolution touchscreen and an extravagant 23-speaker sound system. Mazda's attention to detail could help the EZ-60 stand out in China's crowded electric SUV market. Volkswagen came ready to impress with not just one but three new concepts. The leads the pack as a large three-row SUV powered by a range-extender plug-in hybrid system, offering an extra 434 miles beyond the battery's own 186-mile range. Meanwhile, the sedan leans into futuristic luxury with a sleek, aerodynamic profile and an AI-based humanoid assistant baked into the infotainment system. Finally, the targets younger buyers as a full-size electric SUV riding on an 800-volt architecture for quicker charging and better efficiency. Together, these concepts lay the foundation for VW's plan to launch 30 new vehicles in China by 2027. Honda's GT fastback made its debut as the flagship of the brand's upcoming Ye series of EVs. In an unusual twist, two slightly different versions were presented: one by Dongfeng Honda and one by GAC Honda, reflecting Honda's multiple joint ventures in China. Details about the powertrain are still under wraps, but the GT's athletic stance and coupe-like roofline hint at strong performance ambitions. Whether it's packed with power or tuned more for comfort, the Honda GT represents an important step in the company's EV strategy for China. The Lexus ES has long been a staple of the luxury midsize sedan segment, and now it's preparing for a new era. In Shanghai, Lexus revealed the next-generation ES, which will offer both hybrid and full battery-electric versions. While Lexus hasn't shared many technical specs yet, the announcement signals a big shift: the brand is leaning harder into electrification, not just in Europe and North America, but in China as well. Considering how beloved the ES has been for its quiet comfort and reliability, an electric version could have serious potential if it captures that same spirit with zero emissions. Best known for building stately sedans for Chinese government officials, Hongqi is now breaking new ground. In Shanghai, the brand revealed a hulking off-road SUV concept aimed at wealthy adventurers. Although specific powertrain specs remain vague, the massive proportions, squared-off design, and aggressive stance make it clear that Hongqi wants to compete with the likes of the Land Rover Defender and Mercedes-Benz G-Class. Expect a focus on opulence too, as Hongqi is unlikely to skimp on the luxury features. The 2025 Shanghai Auto Show was more than just a collection of new cars; it was a window into the future of the automotive world. From Audi's blisteringly fast electric wagon to Zeekr's luxury SUV and Mazda's sleek new EVs, it's clear that China's market demands innovation at every level: performance, design, technology, and luxury. Even legacy automakers like Volkswagen, Lexus, and Honda are tailoring their strategies to fit China's tastes, and in many ways, the Chinese market is becoming the testing ground for ideas that could later spread worldwide. As U.S. and European shows continue to shrink, Shanghai is filling the vacuum, bringing back the excitement, the drama, and the sheer spectacle of the car show experience. If this year's debuts are any indication, the rest of the world would be wise to pay very close attention.
Daily Mail
28-04-2025
- Automotive
- Daily Mail
Chinese SUV that looks like a Rolls-Royce on the market for a fraction of the price
By Published: | Updated: The Zeekr 9X is the latest Chinese luxury car that will tempt buyers to ditch traditionally popular premium marques like Audi, BMW and Mercedes with its significantly cheaper price tag. The 9X SUV has been unveiled at the Shanghai Auto Show where it has - surprisingly - drawn comparison to the enormous Rolls-Royce Cullinan... but for a fraction of the cost. Exact pricing of the large Chinese family car is not yet known but is rumoured to start from as little as £50k. That's some saving on the £300k commanded by the Roller equivalent. But it's not just the price that stands to make the 9X appealing; the plug-in hybrid drivetrain promises more than 186 miles of EV-only driving combined with supercar performance. And Zeekr is ready to rattle the established Western luxury SUV market with its uber-luxurious interior and the practicality that positions it against big names like the Range Rover. It's not confirmed if or when the 9X could arrive in the UK, but Zeekr is expected to start selling some of its models on our shores from 2026. Zeekr sits under Shanghai parent company Geely – which also owns Polestar, Volvo and Lotus amongst others – and has former Bentley chief designer Stefan Sielaff in its staple of automotive experts. Alongside the 9X's reveal, Zeekr also confirmed plans to arrive in the UK from next year, with Zeekr Europe CEO Lothar Schupet telling the Independent: 'We are in discussion with dealer groups to enter the UK. 'Our plan is to be live in the UK early next year and we're trying to accelerate as much as we can.' The Zeekr 9X is a large SUV measuring 5,290mm long (longer than the Range Rover's 5,252mm) with a wheelbase of 3,220mm, and offers either six or seven seating options for maximum big family practicality. For those looking for a room limo, there's an option to have four spaced-out chairs with 'executive style' seating. The 9X's 900V architecture can handle 480kW ultra-rapid charging, which delivers 310 miles of charge in just nine minutes. The plug-in hybrid SUV will use a 2.0-litre four-cylinder turbocharged petrol engine and two electric motors for a total range of 932 miles; this makes it the first Zeekr model to use its 'Super Hybrid' technology. The 'Super Electric Hybrid' tech will merge pure electric, plug-in hybrid and range-extender advantages to promise disruptive efficiency and performance. Super Hybrids with huge combined ranges are one of the biggest emerging trends in new Chinese cars, with the Jaecoo 9HS and forthcoming Omoda 9 SHS both using 'Super Hybrid Systems'. But for the Zeekr 9X it's the supercar-like three-second sprint time from 0 to 62mph that will get heads turning, more so than its Rolls-Royce Cullinan looks. The chrome detailing and large imposing waterwall grille are both very similar to the Cullinan, as is the angular, boxy shape. But it also has hints of the Rivian R1S, the Range Rover and the Jaecoo 9HS. And then there's some fancy, luxury design features such as the 'Ring Screen Star Diamond' taillight assembly with 43,343 individual diamond-cut facets called the 'Side Wing Star Diamond Matrix' which complements the 9X's front-end design. Zeekr is already on the roads in Australia but is yet to reach the UK. However, as the 9X uses the same SEA architecture as Geely's Volvo and Polestar brands, right-hand drive is a natural step. And while the 9X hasn't been confirmed for Australia, Mars Chen, CEO of Zeekr International told EV Central that the country will get either a smaller (but still large) SUV than the 9X, or the 9X itself. Neither the pipeline smaller SUV or the 9X are big volume cars, but they shoot Zeekr into a new territory of ultra-luxury car production. Chinese tech advancements on the Zeekr 9X The 9X will be the first Zeekr model to feature the G-Pilot intelligent driving solution. This builds on Zeekr's Level 3 autonomous driving architecture and utilises the ZEEA 3.0 central computing digital architecture to improve end-to-end communication response speed by 50 per cent. The 9X will use five LiDAR units – one long-range LiDAR and four supplementary short-range LiDARs for blind-spot coverage – for 'four layers of 360-degree perception capabilities.' How much will the Zeekr 9X cost? The price of the 9X SUV is not yet confirmed, but Zeekr's 009 people mover costs $130,000 and the 9X is touted to start from just under £51,000 ($68,000) and go up to around £102,000 ($136,000). This makes it almost a sixth of the price of a Rolls-Royce Cullinan which starts at just under £300,000, with exact prices depending on specification.
