German Chancellor Olaf Scholz (SPD,l.), and Ola Källenius, Chairman of the Board of Management of Mercedes-Benz AG, visit the Mercedes stand during the opening of the IAA. Sven Hoppe | Picture Alliance | Getty Images Munich, GERMANY — The IAA Mobility motor show is taking place in Munich, Germany this week, and there is no … Read more
BMW CEO Oliver Zipse speaks during the presentation of the new BMW “New Class” during an event ahead of the IAA motor show in Munich. Picture Alliance | Picture Alliance | Getty Images Europe’s biggest car manufacturers are wary of the competitive threat posed by new Chinese companies, as the automobile industry moves towards electrification, … Read more
A XPeng Inc. G6 electric sport utility vehicle (SUV). Qilai Shen | Bloomberg | Getty Images Xpeng expects cost cuts and its Volkswagen partnership to narrow the firm’s losses, the Chinese EV maker told CNBC in an exclusive interview on Monday. On Friday, the firm logged its biggest quarterly loss since its U.S. listing in … Read more
Volkswagen Type 2 bus lined up next to the ID. Buzz CNBC | Sydney Boyo | Andrew Evers The “bus,” as many fans know it, is deeply ingrained in American culture and evolved into a symbol of protest starting in the 1960s. “There was an unpopular war. There were conflicting ideas of what the American … Read more
Korean carmaker Kia is something of a Cinderella story. When the automaker arrived in the U.S. in 1994, its cars were poorly reviewed, and it was seen mostly as a low-cost value brand. Now, Kia is winning awards and commanding higher markups than its peers. U.S. sales have gone from about 12,000 units in 1994 … Read more
Didi launched a free robotaxi service in parts of Shanghai in 2020. Vcg | Visual China Group | Getty Images BEIJING — Chinese electric car company Xpeng said Monday it is buying Didi’s smart electric car development business in an exchange of shares worth $744 million. The Chinese ride-hailing company will become a strategic shareholder … Read more