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Time Magazine
29-05-2025
- Automotive
- Time Magazine
Loading... The Shift East: How China's EV Boom Powers Its Tech Rise World Economy NIO employees work on an automated electric-vehicle production line on Jan. 17 in Hefei, China. NIO employees work on an automated electric-vehicle production line on Jan. 17 in Hefei, China. Kevin Frayer—Getty Images Story by Charlie Campbell / Shanghai and Hefei NIO employees work on an automated electric-vehicle production line on Jan. 17 in Hefei, China. Kevin Frayer—Getty Images
At NIO's design workshop in suburban Shanghai, engineers spread billets of clay onto an aluminum frame of a basic car. A robotic arm with a mechanized drill bit then carves a series of grooves into the clay corresponding to a designer's sketch. The rough surface is then painstakingly smoothed with palette knives before aluminum foil is pasted on top. Finally, the sleek-looking metallic model is rolled into a sunlit courtyard where every curve and camber is scrutinized. Advertisement 'The artistry really happens with these guys putting color on, taking it off; putting more clay on, taking it off,' says Colin Phipps, senior director of NIO Shanghai Design, who previously worked 12 years for Cadillac. 'This is a very labor-intensive process.' It's also an incongruously artisanal first step of a design methodology that is otherwise steeped in pushing technological boundaries. Since its founding in 2014, NIO has notched 9,800 global patents, most impressively popularizing battery-swapping technology that allows customers to change their drained battery for a fully charged one in just three minutes at over 3,000 swap stations across China and Europe. NIO also produces the world's longest-range electric-vehicle (EV) battery, capable of over 650 miles (1,000 km) on a single charge (Tesla's record is 402 miles). It has the world's only dual-display windshield—projecting data at two separate perspectives directly in the driver's line of sight—and the first homologated drive-by-wire system, which guides the wheels without a physical steering shaft. NIO's EP9 sports car was upon launch in 2016 the world's fastest EV, breaching 194 m.p.h. and breaking records at Germany's famous Nürburgring Nordschleife racing circuit. 'Innovation creates value,' NIO CEO William Li tells TIME. 'And innovation helps us survive amid fierce competition, be it in China or worldwide.' NIO is just one of an alphabet soup of Chinese brands—from AION, BYD, and Clever, to Maxus, Neta, and Onvo, to Xpeng, Yangwang, and Zeekr—dominating the global EV market today. It's been a meteoric rise. In 2001, China had fewer than 10 million passenger vehicles for its 1.2 billion population. That's just one vehicle for every 128 people, or a market penetration equivalent to America's in 1911, three years after Henry Ford produced his first Model T. But by 2009, China was the largest car market in the world. From being a net car importer as recently as 2020, China today sends more vehicles overseas than any other nation; its passenger-car exports jumped nearly 20% in 2024 to 4.9 million. Meanwhile, imports of cars to China dropped from a peak of 1.24 million in 2017 to just 705,000 last year. Chinese automakers are expected to account for a third of the global market by 2030, according to AlixPartners. When it comes to EVs, China already accounts for nearly two-thirds of global sales (62%). NIOs are currently sold in six European nations as well as Israel and the UAE. BYD, meanwhile, is now undisputedly the world's top EV firm, present in over 70 countries and outselling Tesla globally for a second straight quarter. While Tesla delivered 336,681 vehicles worldwide for the January–March period, down 13% year-on-year, BYD delivered 416,388, up 38%. Americans remain largely unaware of all this. Under President Biden, a tariff of 100% was slapped on Chinese EVs, and President Trump has added an additional 25% on all foreign cars. This has negative consequences for EV adoption in the self-styled spiritual home of the automobile—where half of Americans are interested in going electric, according to recent polls. It also impacts the global fight against climate change. 'Consumers in the U.S. could drive better cars, consume less gasoline, spend less on maintenance, and that would also be good for climate change,' says Paul Gong, head of China autos research at UBS Investment Bank. 'There is a certain pity that because of tariff protectionism, and geopolitics, the world is not as green and not as prosperous.' Still, some very real concerns lie behind import barriers. The U.S. and allies accuse China's industrial policies of massive subsidies that cause overcapacity and crowd out competitors. Chinese government support to its EV industry cumulatively totaled $230.9 billion from 2009 to 2023, according to the Center for Strategic and International Studies (CSIS), a bipartisan D.C. think tank. Last July, the E.U. also imposed a provisional antisubsidy tariff of up to 37.6% on Chinese EVs, prompting Beijing to hike tariffs on European pork and brandy in retaliation. In August, Canada hiked its import tariff on Chinese EVs to 100%. However, to simply blame state subsidies for China's mastery of EVs is reductive. Time and again, whether it's smartphones, solar panels, or 5G, China is combining state support with economies of scale and a fiercely competitive domestic market to command transformative technology. Strong supply chains leverage high-quality, low-cost components to commercialize technology for market. And China's ascendency in EVs provides a window into future tussles between the world's top two economies over innovations set to power the Fourth Industrial Revolution. The risk for the U.S. is that these advantages will soon also allow China to dominate industries such as generative AI, quantum computing, and humanoid robotics. And EVs are front and center to those goals. 'These are much more than just battery-powered vehicles,' says Ilaria Mazzocco, a senior fellow focused on China business and economics at CSIS. 'The technological shift involves a lot of data processing, more AI integrated into the system, and synergies that provide pathways to advance in other technologies.' China's rise didn't initially make the West uncomfortable. Far from it. China's peerless manufacturing efficiency reaped billions of dollars for U.S. firms. The fact that an ostensibly communist nation was trying its hand at capitalism was thought endearing, even quaint—not to mention proof that liberal economic theory had won the day. The country, after all, represented a giant and growing market for American industry. Until China began to pull ahead. Though it welcomed McDonald's and Starbucks and encouraged its brightest to hone their minds at Western universities, Beijing maintained a strict hold over the economy, while cannily acquiring foreign expertise. Today China accounts for 27.5% of all global auto sales, more than the next three countries—the U.S., India, and Japan—combined. China's government facilitated this rise by allowing foreign auto firms to enter the Chinese market only with a domestic partner, as well as what might be called resourceful harvesting of intellectual property. It was good old-fashioned protectionism—and for China, it worked. Chinese companies are poaching engineers and executives from storied European and American manufacturers while buying up foreign competitors wholesale. Ford sold Swedish firm Volvo to China's Geely for $1.8 billion in 2010. In 2017, Geely also bought storied British sports-car firm Lotus. 'Ten or 15 years ago, products in China weren't competitive globally, to put it mildly,' says Dan Balmer, Lotus president and CEO for Europe, Asia-Pacific, Middle East, and Africa. 'But you could see the energy, the enthusiasm, the investment into the industry. So they've learned very well, and they're now leading in many fields.' Lotus now retains a design and production facility in the U.K., but all its Eletre and Emeya EVs are made in Wuhan, best known as the epicenter of COVID-19, where a $1.1 billion plant opened in 2022 can turn out 150,000 vehicles a year. 'Before, people were coming to China just to have better access to the Chinese market,' says Frank Bournois, dean of the China Europe International Business School in Shanghai. 'Now you come to China to improve your processes. And AI is really pushing that forward.' U.S. policymakers have a hard time squaring this new paradigm, as evidenced by Vice President J.D. Vance's complaints to Fox News in early April that 'we borrow money from Chinese peasants to buy the things those Chinese peasants manufacture.' But whereas the first generation of Chinese entrepreneurs grew up poor and were happy to wring a livelihood from cheap imitations, today's tech graduates were spared the privations of their parents and yearn for something more meaningful. 'Before, Chinese were happy to copy others just so they wouldn't go hungry,' says Grace Shao, a former Alibaba manager turned IT consultant who publishes the AI Proem newsletter. 'Now they seek a sense of mission.' While Washington attributes China's recent successes to subsidies, that is only part of the story. When the Beijing central government pinpoints an industry to prioritize, city and provincial governments immediately offer incentives in the desperate race to seed a local champion. This flood of liquidity generates a bubble that artificially inflates values and encourages other big players to enter the market. But in 2020, the leading government-supported EV maker in China was Tesla, whose consumers received $325 million in tax rebates as well as $82 million in grants to construct its Shanghai Gigafactory. Meanwhile, at its peak in January 2021, NIO's market cap was $96.57 billion, or double that of General Motors. Competition between regions and manufacturers, however, is remorseless. In 2023, some 52,000 EV-related companies shut down in China. As the EV bubble burst, NIO's worth has plunged to just $7.53 billion, despite shipping a record 221,970 cars last year. But those firms that emerged unscathed are lean and technologically agile, and infused with the necessary moxie to thrive. BYD, for one, employs more engineers than Tesla has total staff. In March, it unveiled an EV battery that can charge in just five minutes. 'You cannot imagine such competition intensity in any other major market,' says Gong. NIO's factory in Anhui province is a case in point. It has an annual capacity of 300,000 units and can deliver entirely bespoke cars of 3.5 million specification combinations within 10 days. Ford may have pioneered the assembly line, but NIO has an assembly matrix six floors high and five wide, where individual chassis can be plucked in any direction. Once they're grounded, AI-powered automated guided vehicles ferry each shell among 940 welding and riveting robots. Most impressively, ground was broken at the factory in April 2021 and mass production started just 17 months later—a timeline virtually unheard of in the U.S. Crucially, traditional auto manufacturers and China's new energy companies approach the production process in reverse. Instead of focusing on the panels, axles, and bearings of a car, NIO first looks at the high-voltage architecture—batteries, power train, and so on—followed by the low-voltage, like digital compute. 'Then we bolt the mechanical pieces around it,' says Jonathan Rayner, NIO's vehicle-experience manager for its ET9, who joined the firm after 14 years at Jaguar Land Rover. 'With today's modern software and capabilities, what used to be the hard thing for the old companies is relatively easy.' Putting software at the beating heart of production means modern EVs are unlike their gasoline-powered forebears. Even if you purchased a NIO, BYD, or Lotus a few years ago, the car's brain is being regularly updated, much like your smartphone. This also means that the constantly honed AI-powered core technologies can be applied to many adjacent fields. 'AI is a very important enabler for our vehicle products,' says Li, NIO's CEO. 'These technologies help us improve the product experience and overall competitiveness.' Waiting outside an office building in Shanghai's Pudong district, a white robotaxi produced by a Guangzhou-based autonomous-vehicle firm, circles slowly around the entrance foyer before coming to a stop at my feet. Once I'm aboard, the self-driving system embarks on a 20-minute tour of the rain-soaked neighborhood, dodging delivery bikes, overtaking parked vans, and bravely fighting through oncoming traffic at stoplights. 'Strategically, we definitely have the ambition to go global,' says James Peng, CEO of 'Because mobility needs are everywhere. Using technology to have a positive societal impact should be our ambition.' Of course, the U.S. also has robotaxis. Alphabet-owned Waymo completed 4 million paid driverless ride-hailing trips in 2024 in Phoenix, San Francisco, and Los Angeles. But competition is scant. Amazon-backed Zoox secured the necessary permits to carry the public in Foster City, Calif., only last year. Tesla has claimed since 2016 to be about a year away from launching a robotaxi; CEO Elon Musk most recently said his Cybercab would be ready by 2027. More notable are the players that have exited the space. Uber sold off its self-driving business in 2020 after a fatal collision. Ford abandoned its stake in its robotaxi developer two years later. In 2023, GM paused all its Cruise driverless operations, despite already plowing in $10 -billion, following collisions that led to the suspension of California licenses. (While a recent spate of self-driving crashes in China hasn't diminished official support, the government on April 17 did ban the word autonomous from car ads.) By comparison, faces a crowded field. China also has Apollo Go, DiDi, AutoX, and WeRide—the latter already operates in 30 cities across nine countries—all clamoring for market share with express government backing. As of August 2024, Chinese public-security authorities had issued 16,000 test licenses for autonomous vehicles and 20,000 miles of roads nationwide had been opened for testing. For Peng, the difference is that while licenses in China are harder to obtain at the outset, once permission is granted, the government will be fully supportive. 'In the U.S., it's easy to get a license,' he says. 'But if you're ever in an accident and it's your fault, they will heavily penalize you.' Rather than fostering its own domestic champions, the U.S. national strategy aims to slow down its key rival via stricter export controls. However, China is catching up. In semiconductors—a crucial industry in which the U.S. currently leads—Huawei's Ascend 910C AI chip reportedly achieves up to 60% of performance in inference tasks compared with Nvidia's latest H100. Whereas NIO's earlier models contained four Nvidia chips, its latest ET9 instead has two designed in-house. 'It's precisely the shortage of semiconductors that is leading China to develop their own faster,' says Bournois. The rush is also on to translate EV supremacy to other industries. Humanoid robots produced by Hangzhou-based Unitree caused a stir in households across China when they appeared, twirling decorative fans and dancing with other performers, at state broadcaster CCTV's prestigious Lunar New Year Gala in January. It was a stunning display of China's booming robotics industry. Over 190,000 robotics-related companies were registered in China last year, with 44,000 more registered since the start of 2025, according to data company Qichacha. As with EVs and AI, Beijing has prioritized humanoid robots as 'disruptive products.' In 2023, China's Ministry of Industry and Information Technology (MIIT) issued industrial-development guidance that outlined its goal of mass-producing humanoid robots by 2025 to build a globally competitive industrial ecosystem expected to reach $43 billion by 2035. EVs are key. Roughly 70% of their components are interchangeable, which is why Chinese automakers including BYD, Xiaomi, Chery, GAC Motor, Huawei, SAIC, and Xpeng Motors are all entering the robotics market. At March's National People's Congress, China's annual rubber-stamp parliament, XPeng chairman He Xiaopeng proposed supportive policies for humanoid robots to mirror those EVs enjoyed, arguing the industry has similar growth potential over the next five to 20 years. China is also gaining ground in the so-called low-altitude economy—autonomous air taxis, drone delivery, and so on. Last March, China's MIIT and civil-aviation and transport regulators released a six-year plan for the sector, exploring regulations for aerial tolls, pilot licenses, and establishing trial areas where early-stage eVTOL (electric vertical takeoff and landing vehicles) can fly around actual city environments. The 2025 NPC's Government Work Report named the future industry among the state's priorities. Once again, China's EV industry provides the backbone. Early eVTOL pioneers include Ehang, Autoflight, XPeng, and AeroFugia, a subsidiary of Geely. 'We have the basic infrastructure already ready for the low-altitude industry,' says Burt Gao, Aerofugia's CEO and chief scientist. 'Also, our supply chain is the same as for EVs.' It is not all positive for China, of course. The nation faces myriad economic challenges, including deflation, local governments drowning in debt, poor consumer spending, plummeting real estate values, record youth unemployment, and a demographic time bomb. China's regulatory framework and especially its draconian rules regarding data transfers are anathema to foreign partners. In September, the European Chamber of Commerce in China released a position paper that made over 1,000 recommendations for how to improve the business environment. Then there's the as-yet-unknown effect of a trade war with the U.S., where China last year sent 14.7% of exports, worth $438.9 billion. But as America walls itself off, China also has a golden opportunity to reset trade relations with the rest of the world. In mid-April, after Trump's global tariff onslaught, President Xi Jinping embarked on a charm offensive in Southeast Asia, declaring that a trade war has 'no winners' and that protectionism 'leads nowhere.' Just as export controls have spurred domestic innovation, a U.S.-waged trade war only puts Chinese firms in a more favorable light. 'The bar is low in terms of looking like a more reliable and constructive partner than the United States these days,' says Mazzocco of CSIS. We have been here before. The U.K. became the world's biggest economic superpower in the 18th and 19th centuries through its first-mover advantage in industrialization. But the U.S. adopted these technologies and, via its larger market and manufacturing capabilities, soon became the global leader in both innovations and their commercialization. The question is whether the U.S. can survive a trade war that threatens to drastically diminish its markets, while simultaneously undermining the development of core technologies by defunding universities and research institutions. China already produces twice as many highly cited AI-research publications as the U.S. According to a recent report from the D.C.-based Information Technology and Industry Foundation, China is near the lead of innovation or better in 6 out of 10 industries of the future. If EVs are any augury, America's days at technology's vanguard might be numbered. 'We believe the Chinese market has the best talent,' says Li. 'Every year there are several million new science and technology graduates.' And they, like their government, are determined to seize the day. 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Yahoo
06-04-2025
- Automotive
- Yahoo
Antiques: Locking up the ol' Model T
To call Palm Springs a "car town" is hardly a misnomer. For years, classic and exotic cars have been hot commodities throughout the Coachella Valley. Vintage auto dealerships thrive here, car shows are frequent and giant locally hosted vehicle auctions attract bidders from around the globe. And, of course, with all that come some issues. Catalytic converter thefts have increased by triple digits over the last few years, and several hundred cars per year are swiped off Palm Springs streets. No doubt the valley-wide numbers are even higher. Still, it's hardly a new problem. Anti-theft devices date back to the Model-T days, and it just so happens we now have a couple of those in stock. Let's do some remembering. It's entirely possible, maybe even likely, that someone in your family tree owned a Model T. Introduced in 1908 by the visionary if controversial Henry Ford, his idea was to provide reliable motorized transportation to the masses. In 1909, a Model T was priced at $825, but six years later economies of scale had brought that down to a remarkable $260 (about $4,700 in today's terms). Not surprisingly, it was a huge success. More than 15 million were sold over the years, making it the bestselling car of all time until Volkswagen knocked it off the top spot in 1972. By 1928, competitors to the Model T were closing in, so Ford did it again by introducing the Model A. That car offered a much wider series of options at a range of price points, and by 1932 nearly five million had been sold. It also pioneered many new features that became standard equipment over the years, including such things as rear view mirrors and safety glass windshields. Despite the ubiquity of both the Model A and T, or perhaps because of it, auto theft was an early concern. To combat the crime, security companies developed auto boots that affixed to the car's wheels and prevented movement. These were sturdy affairs made of steel and locked into place with a key — very much like those used today. Most included a small brass plaque trumpeting the manufacturer's name and other information. Because the Model T was often a buyer's very first car, he or she would become very attached to it, adding a range of aftermarket accessories to personalize their ownership. And purchasing an auto boot was thought to be a good way to secure their investment. While not the most charming of automobile collectibles, early auto boots like those pictured here certainly anticipated the wave of car thefts to come. Back then, the problem was a fraction of what it is today but the impulse to keep one's car safe was just as relatable. And insofar as more than 50,000 Model Ts are still on the road (some estimates are as high as 100,000), perhaps these old auto boots still have some utility left in them. You might even need one yourself. Mike Rivkin and his wife, Linda, are long-time residents of Rancho Mirage. For many years, he was an award-winning catalogue publisher and has authored seven books, along with countless articles. Now, he's the owner of Antique Galleries of Palm Springs. His antiques column appears Sundays in The Desert Sun. Want to send Mike a question about antiques? Drop him a line at info@ This article originally appeared on Palm Springs Desert Sun: Antiques: Locking up the ol' Model T
Yahoo
24-03-2025
- Automotive
- Yahoo
Two Classic Automobiles Headline Compass Auctions' No-Reserve Estate Sale in Chattanooga
Read the full story on Modern Car Collector Two unique antique automobiles, a 1930 Ford Model A and a Mercedes-Benz Gazelle Kit Car, are set to be auctioned without reserve through Compass Auctions. The estate vehicles, both carrying significant collector appeal, will be sold as-is with estate documentation. The 1930 Ford Model A, an icon of early American automotive engineering, remains a prized piece among vintage car enthusiasts. Registered under VIN A3727794, the black, manually shifted coupe represents Ford's first true successor to the Model T. Though currently non-operational, the odometer reading of just 1,837 miles suggests the vehicle may have been stored for much of its life. Its bill of sale and estate paperwork add to its provenance, making it an enticing project for restorers or collectors seeking authenticity. Joining the auction lineup is a Mercedes-Benz Gazelle Kit Car, a stylish replica of the classic pre-war roadsters. Featuring an automatic transmission and finished in beige, this kit car is designed to evoke the timeless elegance of 1920s and 1930s European motoring. While its exact mileage is unknown, the vehicle reportedly turns over but does not currently start, making it another potential restoration opportunity. Sold under VIN R536BG0186, the Gazelle Kit Car offers bidders a chance to own a piece of vintage-inspired automotive craftsmanship at an accessible price point. Compass Auctions' LIVE End of Month Auction is a LIVE ONSITE & ONLINE BIDDING event. Our auction staff will perform the auction live and you are welcome to listen in and place bids on our online platforms. We offer a selection of fine items from municipal and county governments, vehicles, contractor-grade tools, job completion surplus, industrial equipment and machinery, heavy equipment, trailers, work trucks, and more! Our selection is tremendous, and we will be adding to the catalog daily - keep checking back! For questions, please email info@ or call 423-702-6180. STEVEN W. HOLT #6210 Follow us on Facebook and Twitter
The Independent
28-01-2025
- Automotive
- The Independent
DeepSeek is a lesson from history we should have learned by now
There were car manufacturers before Henry Ford came up with the Model T. The past teaches us that – but then how many of today's tech titans pay any regard to yesteryear? Look at what occurred yesterday with Nvidia. There was the US chipmaker, seemingly impervious to anything, the world's most valuable company, and along comes Chinese start-up DeepSeek with news it can undercut the market in AI technology, and Nvidia crashes. The shares that rose 171 per cent in 2024 and 239 per cent in 2023, to help produce a corporation worth $3.45 trillion, collapsed. They were off a historic 17 per cent, wiping $589 billion off its market capitalisation. Nvidia makes chips for graphic processing units, or GPUs, used to develop and deploy AI software such as OpenAI's ChatGPT. It holds the strongest position in the burgeoning industry. Nothing could touch it. Or at least that appeared to be the case until DeepSeek said it could do similar for less. Accompanying Nvidia, the tech-concentrated Nasdaq index fell 3.1 per cent and the S&P 500 dropped 1.5 per cent. The capitals of tech and tech financing, in Silicon Valley and Wall Street, were sent into a tailspin. Around the world, ordinary investors, but also pension funds and institutions, held their heads in horror. Again, another history lesson had been ignored. There they were piling in to Nvidia, following the crowd, drinking the Kool-Aid, and failing to recognise that shares can go down as well as up. We've got used to these Masters of the Universe sweeping all before them. The bosses of the tech giants are the kings of our age, worshipped for their fanfare product launches, admired for constantly innovating and finding new ways to make our lives easier and to generate ever greater profits. At the US presidential inauguration, their stars were given front-row seats, even relegating Donald Trump's new cabinet to sitting behind. Those with longer memories, versed in less fashionable trades, are able to recall that nothing lasts forever, that gravity has an irresistible pull. One person who knows all about that, to his own, cost is Trump himself. He's experienced many a knock in real estate, and doubtless has been responsible for creating a few. It should be no surprise then that Trump, fresh from lauding the achievements of the US tech billionaires, described DeepSeek's revelation as 'a wake-up call' for the US industry. He's also aware that people, companies, can bounce back – after all, he is living proof. So he quickly said the Chinese development may be 'a positive' for the US. He might, too, have been reluctant to heap praise upon Beijing. 'If you could do it cheaper, if you could do it [for] less [and] get to the same end result, I think that's a good thing for us,' he told reporters on board Air Force One. It was an instinctive reaction, but possibly the right one; Trump is on home ground when talking about the machinations of business. He said he was unconcerned, confident the US would remain a dominant player in AI. Sure enough, OpenAI's CEO, Sam Altman, said his company would fast-track product releases and 'deliver much better models' to head-off DeepSeek's R1 rival AI chatbot. Nvidia shares recovered slightly, rising 3.5 per cent. The Nasdaq and S&P 500 were also returning to the black. Nevertheless, DeepSeek's advance raises stark, longer-term questions for AI production. It was only last week that SoftBank, Oracle and OpenAI unveiled their Stargate joint venture, spending $100 billion on a data centre. Elsewhere, other vast sums have been committed to building the data centres and plants required for creating AI products. DeepSeek's ability to not devote anything like as much capital must put a doubt against those plans. For now, there is relief that the fall has not continued – although it may do so again, such is the volatility in tech. The City was quick, naturally, to mark the dip down as a blip. 'Sell first, think later' was how it was portrayed. Equally, given the stampede to climb aboard Nvidia et al in the first place, that was also 'Buy first, think later'. If only they had consulted their Henry Ford. As the great man said: 'I will build a car for the great multitude. It will be large enough for the family, but small enough for the individual to run and care for. It will be constructed of the best materials, by the best men to be hired, after the simplest designs that modern engineering can devise. But it will be so low in price that no man making a good salary will be unable to own one...' For the Ford Model T, read the DeepSeek R1.
