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German Carmakers at Crossroads: Chinese Electric Cars Threaten ...
2024-09-05 09:00:08
Automotive
Technology

German Carmakers at Crossroads: Chinese Electric Cars Threaten Dominance

German carmakers face a crisis as cheap, state-subsidized Chinese electric vehicles challenge their market position. The shift to e-mobility and photovoltaics hinges on advanced battery technology.

Urgent state funding for infrastructure is imperative. Job security is at stake due to slow electrification efforts.

Chinese EVs are gaining ground in Latin America, particularly in public transportation, while German luxury cars are losing traction. Technology giants like Huawei are reshaping the industry, signaling a shift in car design and function.

Chinese EV makers Xiaomi and XPeng are disrupting the market with competitive models, and Tesla's innovative ecosystem garners attention. Ferrari's strong performance contrasts with declining profits from China.

Related news on that topic:

Tesla Plans to Launch Full Self-Driving in Europe and China

Tesla, led by Elon Musk, has announced plans to introduce its self-driving electric car system, 'Full Self Driving,' in Europe and China by early 2025, pending regulatory approval. Tesla's 'Full Self Driving' does not allow fully autonomous driving, and drivers must remain attentive. The company aims to get approval for 'Full Self Driving' in Europe and China by the end of this year. Tesla is also expected to unveil its robotaxi, 'Cybercab,' in October. Despite facing competition from low-cost Chinese manufacturers, Tesla continues to dominate the electric car market, selling 1.8 million vehicles in 2023 and generating significant revenue and profit. However, the company also plans to reduce its workforce, with a massive employee reduction on the horizon. Tesla's move to expand 'Full Self Driving' globally reflects its commitment to advancing self-driving technology and maintaining its position as a leader in the industry.

The press radar on this topic:

The Street
5. September 2024 um 21:03

Groundbreaking Chinese EV, strong Ferrari quarter have analysts excited TheStreet Daily Newsletter

Politics
Economy
Finance
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Chinese EV makers Xiaomi and XPeng are disrupting the market: Xiaomi's $30,000 SU7 sedan is a hit but losing $9,200/car; XPeng's $16,800-$21,850 MONA M03 rivals Tesla's Model 3. Tesla analyst Dorsheimer hyped the company's 'Apple-esque' ecosystem of EVs, AI, robotaxis, and robots. Li Auto saw 25.5% Q2 delivery growth, but analysts are mixed. Meanwhile, Ferrari's Formula 1 team is 3rd, and the luxury brand has an extensive order book, with new car deliveries not until 2026. Ferrari derives just..
mdr
5. September 2024 um 03:00

Mixed Reactions in the Mittelstand to Tax Breaks for Electric Vehicles

Economy
Technology
New tax breaks for electric vehicles as company cars; Entrepreneurs like Ute Steglich see disadvantages; Dresden Chamber of Crafts welcomes the new regulation, but sees limitations; According to the Federal Association of Mittelstand, companies with more expensive company cars up to a gross list price of 95,000 euros will benefit the most; The federal government is forfeiting 540 million euros in taxes; The new regulation can be useful in urban areas where companies have charging stations on t..
Frankfurter Rundschau
5. September 2024 um 06:20

German automakers on the brink: Chinese electric cars are not only cheaper, they are also better

Politics
Economy
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German automakers are losing competitiveness against cheap, heavily subsidized Chinese electric cars. Battery technology is the key to e-mobility and photovoltaics. The German state must finance an investment boost for infrastructure.
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