Autos reporter for @CNBC.com. Ex-@Automotive_News, @DetroitNews, @MLive. Alum of CMU/@CMLife. Tips to: michael.wayland@cnbc.com | "Skeptical but with a smile"
Don’t confuse Chinese EV makers with China as a place to manufacture high quality, low cost EVs.
There is some overlap but they are not the same thing.
You don't hear about this in American media.
Ford-JMC sales JV formed in 2022 to sell Rangers and Broncos in China.
$400 million in losses.
Now liquidated.
carexpert.com.au/car-news/ch…
Mercedes-Benz could find itself shut out of the U.S. auto market — banned from making or selling new vehicles in the country — under legislation making its way through Congress.
New bipartisan legislation aimed at limiting Chinese involvement in the U.S. auto market may sweep in Mercedes-Benz unless the bill is changed or the German automaker’s largest shareholder sells its stake.
Full details: cnb.cx/4nWNiBL
Ferrari CEO Benedetto Vigna on Thursday sought to defend the 550,000-euro (roughly $640,000) price tag for the luxury carmaker’s first fully electric vehicle.
Read more: cnb.cx/4fM92OA
Shares of luxury carmaker Ferrari fell sharply on Tuesday shortly after the company launched its first fully electric vehicle.
The sports car manufacturer unveiled the Luce, which translates as “light,” at a venue in Rome. The highly anticipated model marks a departure from the aesthetic of typical Ferraris and comes even as other luxury car manufacturers, notably Porsche and Lamborghini, have scaled back on plans to launch their own EVs due to weak demand.
Find out why shares are falling: cnb.cx/4v594p7
Former Ferrari chairman Montezemolo tears the new electric Ferrari “Luce” apart:
“I cannot say what I really think: I would harm Ferrari. We risk the destruction of a legend. So sorry. Take the Prancing Horse off. At least the Chinese won’t copy this car”
Explosive: China-built car exports to Europe
2020: 76,000
2025: 922,000
2026: 1.4 million (f)
European automakers are pouring oil on the fire, exporting from their Chinese joint ventures to Europe.
ft.com/content/5529010d-a1c0…