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South China Morning Post
25-05-2025
- Automotive
- South China Morning Post
Renault leverages Shanghai operation for cars aimed at markets outside Europe
French carmaker Renault Group is using its Chinese development centre to design new models aimed at markets beyond Europe , a senior executive said, as the company seeks to cut production costs and accelerate development by applying insights from the mainland market. The company launched its Advanced China Development Centre (ACDC) in Shanghai last year, which employs around 200 people who are focused on developing electric vehicles (EVs) for the European market. 'ACDC is growing into a very important engineering centre, and we want it to work for the globe,' said Vincent Piquet, chief financial officer at Renault Group's EV division Ampere, in an interview last week. Piquet said the Shanghai operation was working on developing battery-powered models for Ampere and Renault to sell to markets outside Europe. Renault operates in more than 100 countries and regions worldwide, with a primary focus on Europe. Brazil and South Korea are also major markets for the company. His comments came as the rise of Chinese EVs in Europe has forced the bloc's carmakers to re-evaluate their strategies for survival. With support from the Shanghai operation, Renault developed a more affordable version of the electric Twingo car in just 21 months, significantly shorter than the previous three- to four-year cycle. Priced at less than €20,000 (US$22,646), the model is set for release in 2026 in Europe. The Shanghai centre also allowed for the rapid production of a new EV for Renault's budget brand, Dacia, in just 16 months, the fastest development of a model in the group's history. The company expects its cheaper EVs to compete with BYD's Seagull and Nio's Firefly in the European market.
South China Morning Post
25-05-2025
- Automotive
- South China Morning Post
Renault leverages Shanghai development centre for cars aimed at markets outside Europe
French carmaker Renault Group is using its Chinese development centre to design new models aimed at markets beyond Europe , a senior executive said, as the company seeks to cut production costs and accelerate development by applying insights from the mainland market. The company launched its Advanced China Development Centre (ACDC) in Shanghai last year, which employs around 200 people who are focused on developing electric vehicles (EVs) for the European market. 'ACDC is growing into a very important engineering centre, and we want it to work for the globe,' said Vincent Piquet, chief financial officer at Renault Group's EV division Ampere, in an interview last week. Piquet said the Shanghai operation was working on developing battery-powered models for Ampere and Renault to sell to markets outside Europe. Renault operates in more than 100 countries and regions worldwide, with a primary focus on Europe. Brazil and South Korea are also major markets for the company. His comments came as the rise of Chinese EVs in Europe has forced the bloc's carmakers to re-evaluate their strategies for survival. With support from the Shanghai operation, Renault developed a more affordable version of the electric Twingo car in just 21 months, significantly shorter than the previous three- to four-year cycle. Priced at less than €20,000 (US$22,646), the model is set for release in 2026 in Europe. The Shanghai centre also allowed for the rapid production of a new EV for Renault's budget brand, Dacia, in just 16 months, the fastest development of a model in the group's history. The company expects its cheaper EVs to compete with BYD's Seagull and Nio's Firefly in the European market.
Yahoo
21-05-2025
- Automotive
- Yahoo
Elon Musk trying to 'minimize' reality of Tesla sales hit: Investor
Tesla (TSLA) CEO Elon Musk recommitted himself to the electric vehicle company for the next five years, he affirmed at Bloomberg's Qatar Economic Forum, a month ahead of the EV developer's robotaxi rollout in Austin, Texas. Gerber Kawasaki Wealth & Investment Management CEO Ross Gerber — a long-time Tesla investor and critic of Musk — weighs in on what this new phase coming out of a stock slump could mean for the EV maker, especially as its competition with Chinese rivals heats up. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. Well, a more hopeful outlook for Tesla emerging as CEO Elon Musk refocuses his attention on the EV maker. Musk stepping away from his identity as an influential political operator as Tesla faces weakness, the company reporting last month its worst quarter for sales in three years. For more now on what's next as Elon Musk enters a new phase, let's get to Gerber Kawasaki Wealth and Investment Management CEO Ross Gerber. Ross, great to see you. So there's a lot of places we could start with this one, Ross. Maybe, you know, you look at Tesla, I know it's down today, Ross, it's in the red. Uh, but what a move for that stock. I mean, you're up about 50% from early April. I'm curious what you make of that move, Ross, and what you would chalk it up to. Is that, you know, is that must saying I'm going to spend more time at Tesla? Is it easing trade tensions with China? Is it, hey, robo taxis on the way in Austin? Is it all three? Something I'm missing? Walk me through it. Well, I think the first two you're you're dead right on. I don't know about the third because it's really hard to quantify the economics behind launching a robo taxi service and and we certainly don't think it's going to be accretive to earnings like for years. So it took, you know, Uber almost a decade to make money in, you know, the ride sharing business and I don't think it's a very easy business. But I think the other two issues were major issues for Tesla. First of all, Elon wasn't working at Tesla. The the company was adrift. It was a really big positive to see him back, doing interviews from the factory floor. You know, he kind of got the message like you need to show up to work because it's like the company desperately needs it. So that certainly helps boost the stock because whatever Elon's focused on is, you know, he usually gets results. Um, and then secondly, you know, the China thing is a huge problem for Tesla because Tesla is really an important company in China and it's an American symbol of in China like Apple. And I was very concerned that this would, you know, potentially blow up into a full trade war where, you know, the boycotts that we're seeing here in the United States and Europe would extend to China even. And so, you know, I'm pretty happy to see the trade, you know, I wouldn't say be solved, but simmered off a little bit and and it was a direct benefit to Tesla to have Chinese tensions ease. So that did bring the stock back up, but we're now at a valuation that's well beyond even Tesla's traditional, you know, 100 times forward earnings. So, you know, for investors who are concerned about Tesla's future, it's an opportunity to to let go of some of the stock. Which I know is something that you've been doing. Um, Ross, you know, I also thought I was struck by some of the comments that we heard from Elon Musk when he was speaking to that conference, um, in the Middle East. And among other things, he said he was going to pull back from his political giving. I guess he unless he sees the next opportunity to do political giving where he wants to. But Right. I have to wonder with his sort of backing off of Doge, recommitting to Tesla, um, what and he also made the point that, you know, they might have lost customers on the political left but gained them on the political right. Where do you think the sort of brand goes from here, both in the US and also in Europe? Well, clearly Elon's trying to minimize a reality that exists right now, which is Tesla sales are going down. And they've been going down substantially even more this quarter. So, you know, there's a little bit of this denial going on of the effect of his political actions on and and, you know, personal belief systems that he's amplified on the actual brand. But the brand is is probably one of the most hated brands in the world now, unfortunately. And for a company that does so much to try to make a difference in climate and and and and for human life in a positive way, it's extremely distressing to me how negative the brand is viewed today. And I don't think he made any attempt to try to reckon with that at all. So I don't know how that solves itself. And I think until Tesla continues to see weak sales, which I think it will, um, at some point, they'll need to address this.
Yahoo
18-04-2025
- Politics
- Yahoo
JD Vance made a mockery once again, this time he's besieged with devastating AI eyeliner videos
Vice President JD Vance is never beating those eyeliner rumors now! After being the subject of jokes that he's a robot who doesn't know how to interact with humans or that he once had sexual relations with a couch, Vance is now going viral because of Chinese AI videos mocking him for his supposed use of copious amounts of eyeliner. These hilarious AI ads mocking the vice president started making the rounds on social media in the wake of President Donald Trump's sky-high tariffs placed on China and Vance's derogatory comments about China while on Fox News earlier this month. 'To make it a little more crystal clear, we borrow money from Chinese peasants to buy the things those Chinese peasants manufacture,' he said. This sparked an onslaught of AI-generated phony videos of JD Vance wearing makeup and wigs, that have kept the internet entertained while Trump's trade war drives up consumer prices, and U.S. stocks continue to take a nose dive. "I have an entirely new respect for the creativity and sense of humor of the Chinese people. This compelling mockery of hillbilly Veep JD Vance's predilection for eyeliner is funnier and more realistic than anything being produced here in the U.S,' one person wrote on X (formerly Twitter), while someone else posted, "The Chinese memes keep coming for JD Vance and his eyeliner. That's what you get when you troll a country of people by calling them peasants, they troll you back.' Keep scrolling to see the funniest JD Vance AI memes the internet has to offer! — (@) — (@) "China relentlessly attacking JD Vance. What an absolute mess this administration has caused for no reason at all." — (@) "Vance eyeliner, Made in China" — (@) "I have an entirely new respect for the creativity and sense of humor of the Chinese people. This compelling mockery of hillbilly Veep JD Vance's predilection for eyeliner is funnier and more realistic than anything being produced here in the U.S." — (@) — (@) "Chinese meme mocks JD Vance for eyeliner. Pretty comical actually." — (@) "Forget the tariffs. Don't you guys think JD Vance is so beautiful? Especially his beautiful eyeliners." — (@) "Vice President Vance, I am a Chinese peasant. Do you realize that your tariff policy will lead to the soaring price of your eyeliner?" China's netizens are having so much fun these days" — (@) "The Chinese memes keep coming for JD Vance and his eyeliner. That's what you get when you troll a country of people by calling them peasants, they troll you back" — (@) "Need deescalation. How about Vance apologizes for calling them peasants and in return they take their eyeliner videos down? Deal?" — (@) "Vance eyeliner" — (@) "JD Vance: Collectors Eyeliner Edition has been been released… was $10 now with tariffs it's only $349" — (@) "Omg China literally hates J.D. Vance and they're using him as a model to sell their wigs!" — (@) "Yet, JD Vance never said thank you to the Chinese peasants" — (@) "The Chinese on TikTok are kicking ass and taking names … Well, hello JD Vance …"
