Chinese electric car manufacturer Nio will cut prices due to a drop in sales

Chinese electric car maker Nio will cut prices on all its models and end free battery replacements for new buyers. This is reported by the Reuters agency. The company is struggling with a drop in sales. The price war in China was started by the American Tesla, and more than 40 brands, including Volkswagen, joined […]

ZF Gains Traction with China Automakers as German Carmakers Lose Market Share

ZF axle assembly in China Around 40 percent of ZF’s sales in China come from Chinese automakers. (Photo: dpa) Shanghai, Düsseldorf, Stuttgart For the German automaker, the prospects in China are darkening. They are losing market share to domestic automakers. In terms of sales in the first quarter, VW gave up the top position in […]

Chinese expansion into Europe: Nio will open a plant in Hungary in September

Chinese electric car manufacturer Nio plans to open its first plant abroad in September, Reuters reported. A factory for the production of battery exchange stations is being built in Hungary, about 20 kilometers west of Budapest. According to the Hungarian media, the investment amounts to 5.5 billion forints (about 337 million CZK), of which the […]