Latest news with #DongfengMotor
Reuters
a day ago
- Automotive
- Reuters
China commerce ministry to join govt crackdown on intense auto competition
BEIJING, June 5 (Reuters) - China's commerce ministry said on Thursday that it would collaborate with other government departments to step up rectification of the excessive competition in the auto market. The ministry will strengthen compliance guidance to ensure fair market competition and promote healthy industry development, commerce ministry spokesperson He Yongqian said. Auto industry associations, research institutions and companies attended a meeting recently organised by the ministry, He said, without elaborating. The ministry scheduled a meeting last week with industry bodies and automakers including BYD ( opens new tab and Dongfeng Motor ( opens new tab to discuss increasing sales of "used cars" that were never driven, Reuters reported. The industry ministry and the China Association of Auto Manufacturers called for a halt to the industry's bruising price wars over the weekend.
TimesLIVE
a day ago
- Automotive
- TimesLIVE
China considers safety rules for driving assistance systems
China is considering imposing safety requirements for driving assistance systems, as more of the country's carmakers offer such features on cars to attract buyers. A post published by China's national standards database on Wednesday showed that the country's ministry of industry of information technology had put forward a proposal to formulate the rules. China's carmaker Dongfeng Motor and tech giant Huawei are among parties involved in drafting the safety requirements over a month-long period until July 4, the database's post showed. The deliberations come as carmakers have been rushing to launch new models equipped with advanced driving assistance systems (ADAS), touting such capabilities as key selling points amid a brutal price war that has extended into a third year in the world's largest car market. Regulators moved to temper the activity in April by banning the use of 'smart driving' and 'autonomous driving' when advertising such features. The move followed a fatal accident involving Xiaomi's, best-selling SU7 sedan in March which triggered widespread concerns over vehicle safety. Preliminary findings showed the Xiaomi car caught fire after hitting a cement roadside pole at a speed of 97km/h seconds after its driver took over control from its ADAS. Xiaomi's founder has said the company will fully co-operate with a police investigation.
Wall Street Journal
a day ago
- Automotive
- Wall Street Journal
Dongfeng Motor Shares Slide After Restructuring U-turn
Shares in Dongfeng Motor plunged after the disclosure that the Chinese auto giant isn't currently engaged in any business restructuring, coming just months after it announced plans for one. The carmaker's stock was 13% lower at 3.68 Hong Kong dollars, equivalent to 47 U.S. cents, by midday in Hong Kong, back near levels of early February, before shares surged on news of a potential restructuring. Dongfeng's Shanghai-listed shares slumped 6.9%.
Nikkei Asia
5 days ago
- Automotive
- Nikkei Asia
From road to work: Nissan EV seat becomes office chair in China
GUANGZHOU -- Nissan Motor has debuted an office chair in China that incorporates the massage functions of its new N7 electric vehicle seats, responding to consumer praise that its car seats are "as comfortable as a sofa." Zhou Feng, deputy general manager of Dongfeng Nissan Passenger Vehicle -- the Japanese company's venture with China's Dongfeng Motor -- presented the artificial intelligence-supported seat as a new feature of the N7 at a launch event in Guangzhou in late April.
Business Recorder
28-05-2025
- Automotive
- Business Recorder
China stocks end lower, dragged by auto and gold miners
SHANGHAI: China stocks ended lower on Tuesday, losses in the auto and gold mining sectors outweighed gains in healthcare shares. Hong Kong stocks edged up. China's blue-chip CSI300 Index closed down 0.5%, while the Shanghai Composite Index lost 0.2%. Hong Kong benchmark Hang Seng rose 0.4%. Chinese automakers extended losses on Tuesday after Reuters reported that the country's commerce ministry will meet with industry bodies and automakers, including BYD and Dongfeng Motor, to discuss the emerging trend of sales of 'used cars' that were never driven. The onshore Automobile Index fell more than 1%. Shenzhen-listed BYD shares dropped 2.3%, after tumbling 6% on Monday. The spotlight will be on the auto sector this week after price competition intensified among electric car makers and an industry executive warned the sector was in an unhealthy state. Also dragging onshore performance were shares of companies in the non-ferrous metals segment, which lost nearly 2%. Zijin Mining's stock listed onshore dropped 3.7% after the company disclosed it wanted to spin off its overseas gold mines into a separate listing in Hong Kong. Meanwhile, both onshore- and offshore-traded healthcare stocks jumped, with Sunshine Guojian Pharmaceutical Shanghai soaring 15.3% and CSPC Pharma gaining 5.8%.
