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BMW counters Tesla offensive in China with new EV plant - Nikkei Asia

Nikkei Asia LogoNikkei Asia6d ago

BMW counters Tesla offensive in China with new EV plant - Nikkei Asia

Quick Summary

BMW, Mercedes-Benz, Audi and Lexus together control over 70% of China's luxury auto market.

Plant Lydia could potentially expand its annual production capacity to 400,000 vehicles, according to government documents.

"Greater ownership will allow automakers to make faster decisions regarding new products and facilities," said Zhang Hongzhuo, chair of the Automotive Working Group at the European Union Chamber of Commerce in China.


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Article Details

Author / Journalist: Staff Writer

Category: InvestingFinanceAsia

Topics: Vehicles Lydia China Market Year Plant Sales According Tesla Chinese Luxury

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 17:12:00

News Timezone: GMT +9:00

News Source URL: asia.nikkei.com

Language: English

Reading Time: 6 minutes read

Article Length: 966 words

Coverage Area: Japan

Availability: Desktop Web, Mobile Web

News ID: 6222

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About Nikkei Asia

Nikkei Asia Logo

Main Topics: InvestingFinanceAsia

Official Website: asia.nikkei.com

Update Frequency: 12 posts per day

Year Established: 1876

Headquarters: Japan

Last Updated: 10h ago

Coverage Areas: Japan

Ownership: Independent Company

Publication Timezone: GMT +9:00

Languages Covered: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #19

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