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Volkswagen Group’s First Investment in China’s New Power Signals Role Reversal: From Technology to Market
2023-07-28 Trade News / News
Over the past 30 years, China has been a successful example of global auto giants exchanging technology for markets, but this scene was rewritten last night. Volkswagen made a strategic investment of 4.99% in Xpeng Motors. This is the first time that a multinational automobile company has formally invested in…
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Weimar Motors Announces New Car ‘Ready to Set Sail,’ Expected to Resume Work and Production Soon
2023-07-26 Trade News / News
On July 25th, WM Motor made an official announcement on its official Weibo, stating that their new car is "ready to go" and prepared to set sail. The company shared photos of the new car parked in front of a freighter, but the specific destination for the new car's export…
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Tesla’s Q2 China Revenue Soars Over 50% to $5.7 Billion
2023-07-26 Trade News / News
In the second quarter of 2023, Tesla's revenue in the Chinese market reached $5.731 billion, marking an impressive year-on-year increase of 51.33% from $3.787 billion in the same period last year. The Chinese market revenue accounted for 22.99% of Tesla's global revenue of $24.927 billion for the same quarter. Tesla's…
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Indonesia’s New EV Incentives Aim to Attract BYD and Tesla
2023-07-26 Trade News / News
According to recent reports from foreign media, Indonesia is currently finalizing a set of new incentives aimed at attracting investments from electric car manufacturers. Senior Indonesian Minister, Luhut Pandjaitan, disclosed on July 25 that the government is actively engaging in negotiations with prominent companies like Tesla and BYD. Luhut Pandjaitan,…
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2023 Policy in Egypt: Over 42,000 Applications Received for Tax-Free Car Import Initiative Aimed at Expats
2023-07-22 Egypt / Local News / Trade News
Minister of Finance Mohamed Maait revealed that a remarkable 42,000 applications have been submitted for the tax-free car import initiative designed for expats. So far, the initiative has resulted in the issuance of 2,900 car import approvals, each valid for one year from the issuance date. The payment orders issued…
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Mainland China and Other Emerging Markets on the Rise as Auto Exporters
2023-07-21 Trade News / News
In recent months, there has been a remarkable surge in Mainland China's auto exports, capturing considerable attention. This transformation of the world's second-largest economy into a prominent auto exporter is poised to disrupt the global auto trade landscape. However, amidst the spotlight on China, it is crucial not to overlook…
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