Category: 3. Business

  • Icons of Latin America: Porsche celebrates heritage with bespoke 911 GT3 ‘Ocelot’

    Icons of Latin America: Porsche celebrates heritage with bespoke 911 GT3 ‘Ocelot’

    Porsche Latin America, headquartered in Miami, celebrated a remarkable milestone in 2025: 25 years of connecting and supporting the independent network of Porsche importers and the passionate Porsche community across Latin America. To mark this significant anniversary, the company is launching an initiative that pays tribute to the region’s rich heritage and automotive excellence: Icons of Latin America.

    “Icons of Latin America”: A Tribute to regional heritage

    These notable occasions will be commemorated through bespoke Sonderwunsch projects, locally configured as heartfelt tributes to the beauty, identity and spirit of this diverse region. Each vehicle will be meticulously personalised by Sonderwunsch experts, drawing inspiration from the distinctive culture, flora, fauna and traditions of the various countries where Porsche Latin America is present. These automotive masterpieces will celebrate Latin American heritage for generations to come.





    Inspired by Colombia’s Amazon rainforest and affectionately nicknamed “The Ocelot”, this one-of-a-kind 2025 911 GT3 Touring is finished in exclusive Paint to Sample Forest Green Metallic. As the inaugural Sonderwunsch project, it connects the country’s distinctiveness with Porsche passion in a truly exclusive and emotive manner.

    This project also commemorates the fact that in 2025, Autoelite – Porsche’s official importer in Colombia – celebrates 30 years of representing the brand in the South American nation.

    The exterior: Forest Green Metallic and Centenaire Silver

    The Colombian Amazon is one of the most biodiverse regions on the planet. Its vast green canopy breathes life into the continent, providing shelter to countless species of plants, birds and mammals. It is both a national treasure and a global symbol of natural wonder.

    911 GT3 ‘Ocelot', Icons of Latin America, 2025, Porsche AG





    The 911 GT3 Touring reflects this abundance through its Paint to Sample (2B4) Forest Green Metallic exterior. The deep hue, shimmering in various shades of green under sunlight, evokes the rainforest’s endless layers of foliage, shadow and light, interwoven in a rhythm of life. It is a colour that appears alive, shifting from mystery to brilliance depending on how it catches the eye.

    911 GT3 ‘Ocelot', Icons of Latin America, 2025, Porsche AG





    Various accents on the vehicle’s exterior in Centenaire Silver offer a striking contrast. These are more than mere stylistic details: they echo the chrome trim of the earliest Porsche 911 models from the 1960s, linking this modern GT car even more closely to its brand heritage. From the rear light pagoda frame and the painted gurney flap on the rear spoiler, to the door handles, exterior mirror housings, rear intake grille surround and the “Porsche” logo on the rear – every Centenaire Silver detail evokes the purity of Porsche’s original design language. Even the 20/21-inch forged aluminium wheels are painted in Forest Green Metallic with fine Centenaire Silver lines on the face, balancing strength with elegance.

    The interior: Cohiba Brown leather and Pepita fabric

    Step inside, and the inspiration shifts from the rainforest as a whole to one of its most captivating inhabitants: the ocelot. This small wild cat, found throughout Colombia, is revered for its beauty. Its golden-brown coat, patterned with black rosettes, features an intricate design that elegantly provides camouflage. For centuries, the ocelot has fascinated people, appearing in folklore and art. Today, it remains a symbol of Colombia’s natural diversity and resilience.

    911 GT3 ‘Ocelot', Interior, Icons of Latin America, 2025, Porsche AG





    The interior of this unique GT3 Touring translates the essence of the ocelot into Sonderwunsch craftsmanship. Most of the cabin is finished in Cohiba Brown leather, a rich shade echoing the animal’s coat, paired with Crema and Truffle Brown cross-stitching throughout. The Sports Seats combine Cohiba Brown with Pepita fabric seat centres in a palette of Truffle Brown, Black and Cream White — reminiscent of the ocelot’s spotted pattern and a nod to Porsche’s classic heritage.

    The tribute is most clearly expressed in the headrests, which are embossed with the cunning and instantly recognisable silhouette of the ocelot. This design was directly inspired by Colombian traffic signs that alert drivers to wildlife crossings. On rural roads, where the rainforest meets the tarmac, these signs remind travellers of the delicate balance between humanity and nature. In this GT3 Touring, that same silhouette becomes a symbol of coexistence, respect, and admiration.

    911 GT3 ‘Ocelot', Interior, Icons of Latin America, 2025, Porsche AG





    Sonderwunsch meets Latin American identity

    Individualisation continues in every detail. An exclusive badge on both B-pillars, finished in Centenaire Silver, combines the Porsche Latin America logo with the script “Iconos de Latinoamérica” – a discreet yet powerful signature of the project’s identity. Illuminated door sill guards bear not only the GT3 logotype, but also inscriptions marking both anniversaries: “30 Años de Autoelite” on the driver’s side, and “25 Años de Porsche Latin America” on the passenger’s side – a subtle reminder of the project’s celebratory purpose. Most interior components, such as the Sport Chrono clock housing, upper and lower dashboard, air vent frames and slats, are all upholstered in fine Cohiba Brown leather, stitched in Truffle Brown.

    911 GT3 ‘Ocelot', Icons of Latin America, 2025, Porsche AG





    The unique steering wheel, upholstered in Cohiba Brown leather, features a Truffle Brown 12 o’clock marker, reflecting precision and attention to detail. The Race-Tex headlining in Truffle Brown envelops the cabin in warmth, while the floor mats, seat belts, and interior panels have all been carefully tailored in matching tones.

    911 GT3 ‘Ocelot', Icons of Latin America, 2025, Porsche AG





    Even the front luggage compartment is trimmed in Cohiba Brown and Truffle Brown leather, with Pepita fabric inserts echoing the seat design. Wherever the eye falls, there is a story of Sonderwunsch craftsmanship and Porsche passion.

    About the Sonderwunsch Program

    Porsche is reinterpreting the legendary Sonderwunsch (special wishes) programme of the late 1970s, enabling personalised one-offs – co-created by the customer and professionally realised by Porsche. The offering for new vehicles includes the installation of tailor-made special request options directly in the production run. A highlight that customers can access when ordering a car is Paint to Sample Plus: Porsche creates and develops an individual exterior colour based on the customer’s personal wishes.

    Retrofitting of vehicles is also possible. Customers can completely redesign the interior and exterior of their car or create highly individualised one-offs with the support of Porsche’s own development and design team. For older vehicles, this programme always includes restoration, which can also be commissioned separately.

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  • Geely Auto’s game-changing Geely EX2 arrives to redefine the city car standard

    Geely Auto’s game-changing Geely EX2 arrives to redefine the city car standard

    SAO PAULO, Nov. 7, 2025 /PRNewswire/ — Geely Auto, a world-leading manufacturer of new energy vehicles, is expanding its electric line-up in the global market with the launch of the Geely EX2, its best-selling electric hatchback. The compact city car was launched in Brazil on 6th November, where it was unveiled alongside the brand’s ambitious plan to lead the global B-segment market towards a more refined future.

    Built on GEA architecture, the Geely EX2 boasts a sleek design, advanced technology, safety features, and impressive performance, setting a new standard for urban electric mobility. It measures 4,135 mm in length, 1,805 mm in width, and 1,580 mm in height, with a 2,650 mm wheelbase that strikes the perfect balance between agile handling and class-leading cabin space.

    The Geely EX2 establishes a safety benchmark for city cars. It features a comprehensive safety protection system centered on battery safety, comprising the Geely Battery Safety System, an optimized high-strength structure, and a real-time temperature monitoring system. In terms of structural safety, the Geely EX2 features reinforced cabin structures, including a cage body and a #-shaped rear subframe, as well as a tri-directional energy-absorbing structure to enhance structural integrity in various conditions.

    Before its launch in China, the compact city car made its overseas debut at the 2024 Automechanika Frankfurt, Germany, along with plans to go global. Operating under the name Xingyuan, it was the best-selling model in the Chinese market from January to September 2025, and the second-best-selling BEV model worldwide in August 2025. In September 2025, the model set a new milestone by becoming the fastest to exceed 400,000 units in sales in the Chinese market.

    The launch of the Geely EX2 in Brazil further solidifies Geely’s focus on the country’s market. The Geely EX5, Geely Auto’s first model in Brazil, was launched in August 2025 and has quickly become the best seller in its segment. In accordance with the agreement between Renault and Geely Holding, Renault do Brasil will manufacture Geely Auto-branded zero and low-emission vehicles at the Ayrton Senna plant.

    As the latest addition to Geely Auto’s electrified lineup, the Geely EX2 is scheduled to launch in markets across five continents within one year. By entering major European markets, it is set to amplify Geely Auto’s presence on the continent. In the SEA region, it will soon be available in Thailand, Indonesia, and other countries.

    SOURCE Geely Auto

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  • Weak US demand hits BA owner IAG’s profits in key summer period

    Weak US demand hits BA owner IAG’s profits in key summer period

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    Weak demand for economy class seats on transatlantic flights hit profits at British Airways owner IAG during the key summer holiday months. 

    For the July to September period, the airline’s pre-tax profits fell 2.1 per cent, compared with last year, to €1.87bn, while revenues were flat at €9.3bn. Last year the group posted record results on both measures.

    Passenger revenue per available seat, a key industry metric, on the group’s north Atlantic routes fell 7 per cent. 

    The transatlantic market, which has been dented by increased wariness about travelling to the US, is IAG’s most lucrative route. During the three months it expanded capacity in BA, Iberia and Aer Lingus flights to the region.

    IAG stressed that overall demand for global travel remained “strong”. 

    Group chief executive Luis Gallego said: “As expected the north Atlantic market saw some softness [in the US] and unit prices across our airlines were lower in the European market.”

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  • Oil headed for second weekly loss amid lingering supply concerns – Reuters

    1. Oil headed for second weekly loss amid lingering supply concerns  Reuters
    2. USA Crude Oil Stocks Rise More Than 5MM Barrels WoW  Rigzone
    3. Commodity wrap: oil edges up on supply fears; gold reclaims $4,000/oz mark on soft dollar  TradingView
    4. Oil Prices Rise as Glut Concerns Dwindle: Implications for Investors and Businesses in Oman  omanet.om
    5. Crude Oil is setting up for a further recovery [Video]  FXStreet

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  • Daimler Truck posts 40% drop in quarterly profit, but keeps annual forecasts

    Daimler Truck posts 40% drop in quarterly profit, but keeps annual forecasts

    Nov 7 (Reuters) – Daimler Truck (DTGGe.DE), opens new tab reported a bigger-than-expected 40% drop in third-quarter operating profit on Friday, but stuck to its annual forecasts on the back of a positive momentum in Europe and a recovery in North America.

    Adjusted earnings before interest and taxes (EBIT) came in at 716 million euros ($835.00 million) for the quarter, missing the 729 million euros expected in a company-compiled consensus.

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    Incoming orders of 93,923 units were at the previous year’s level, backed by a positive momentum in Europe and a recovery in North America from very low levels in the second quarter, the company said in a statement.

    European truck manufacturers were facing declining demand in North America due to weaker freight activity and market uncertainty caused by import tariffs.

    Daimler Truck’s Trucks North America segment saw a 64% drop in operating profit to 257 million euros, but beat consensus expectations of 240 million euros.

    However, its Mercedes-Benz Trucks business achieved adjusted EBIT of 319 million euros, missing consensus expectations of 329 million.

    ($1 = 0.8575 euros)

    Reporting by Amir Orusov and Simon Ferdinand Eibach; Editing by Subhranshu Sahu

    Our Standards: The Thomson Reuters Trust Principles., opens new tab

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  • Renault Group successfully issues Samurai bonds for a nominal amount of ¥95.2 billion

    Renault Group successfully issues Samurai bonds for a nominal amount of ¥95.2 billion

    This transaction marks Renault Group’s return into Japan’s capital markets since 2022, underlying the high confidence of Japanese investors in Renault Group’s strategy and its ability to pursue and accelerate its transformation.

    This issuance allows Renault Group to benefit from attractive market conditions and will be used for general corporate purposes including the refinancing of some of its upcoming maturities.

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  • Maersk and Unilever Launch First Electric Van to Decarbonize Logistics in Saudi Arabia |Maersk

    Maersk and Unilever Launch First Electric Van to Decarbonize Logistics in Saudi Arabia |Maersk

    Jeddah: On the road to zero emissions, global logistics leader A.P. Moller – Maersk (Maersk) and consumer goods giant Unilever are joining forces to launch their first electric van in Saudi Arabia. This pioneering initiative is an important milestone in decarbonising logistics operations in the Kingdom, supporting Saudi Vision 2030 objectives to reduce carbon emissions by 278 million tonnes annually and increase renewable energy usage to 50%.

    This launch is the beginning of a broader transformation. Both companies aim to scale electric mobility across Saudi operations and explore additional innovations, including solar-powered warehousing and intermodal transport solutions.

    Driving Decarbonisation in Jeddah

    The electric van will exclusively serve the BinDawood Group, one of Unilever’s key retail partners, operating within a 50 km radius and covering up to 3,500 km per month. This deployment follows Unilever and Maersk’s successful consolidation of warehouses into a single fulfilment centre at Maersk’s Logistics Park in Jeddah, already delivering a 5% emissions reduction. This reduction is enabled by the Park’s strong sustainability infrastructure, including a 64,000 sqm rooftop solar plant and an advanced cooling system using natural refrigerant (Ammonia) and seawater instead of potable water. 


    This is the first van deployment in our Saudi fleet, and it represents our commitment to reducing logistics-related emissions wherever feasible. This is another building block of our emission reduction plans in partnership with Maersk. The electric van, combined with solar energy charging infrastructure, means we practically reduce emissions by 100% compared to a conventional truck. We’re proud to introduce this innovation in Saudi Arabia, supporting Saudi Vision 2030 and joining global efforts. By improving efficiency and cutting emissions, we strengthen sustainability while delivering greater value to our customers.

    Ahmed, Kadous

    Head of Customer Operations, Unilever Middle East, Turkey, Pakistan and Bangladesh




    Partnership for Sustainable Value

    The initiative showcases the strength of the Maersk-Unilever partnership, with both companies working collaboratively on infrastructure readiness, operational planning, and stakeholder engagement to ensure successful implementation.


    As electric vehicle technology advances and charging infrastructure expands across Saudi Arabia, we’re seeing more opportunities to deploy emission-free trucks in place of diesel units. We’re proud to partner with forward-thinking customers like Unilever, who are committed to decarbonising logistics solutions that deliver value throughout their supply chain.

    Ahmed El Esseily

    Managing Director at Maersk Saudi Arabia


    Maersk currently offers low-emission trucking solutions in more than 14 countries globally, including China, India, the USA, Brazil, Chile, Peru, and several European countries. The company is committed to reaching net-zero emissions by 2040 across the entire supply chain through new technologies, alternative energy solutions, and close partnerships with customers and vendors. As part of Unilever’s commitment to achieving net zero across the value chain by 2039, the company is implementing measures designed to reduce greenhouse gas emissions from their logistics network by up to 50% by 2030. A key pillar of this strategy is the transition to electric vehicles, reinforcing Maersk and Unilever’s dedication to building a more sustainable future.

    About Maersk

    A.P. Moller – Maersk is an integrated logistics company working to connect and simplify its customers’ supply chains. As a global leader in logistics services, the company operates in more than 130 countries and employs around 100,000 people. Maersk is aiming to reach net zero GHG emissions by 2040 across the entire business with new technologies, new vessels, and reduced GHG emissions fuels*.

    *Maersk defines “reduced GHG emissions fuels” as fuels with at least 65% reductions in GHG emissions on a lifecycle basis compared to fossil of 94 g CO2e/MJ.

    About Unilever

    Unilever is one of the world’s leading suppliers of Beauty & Wellbeing, Personal Care, Home Care, Foods and Ice Cream products, with sales in over 190 countries and products used by 3.4 billion people every day. We have 128,000 employees and generated sales of €60.8 billion in 2024.
    For more information about Unilever and our brands, please visit www.unilever.com.


    For further information, please contact:

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  • Electric vehicles set to pay London Congestion Charge

    Electric vehicles set to pay London Congestion Charge

    Tom EdwardsLondon transport and environment correspondent

    BBC A sign shows a red circle with a large white C in itBBC

    The congestion charge in central London is due to increase to £18 a day

    Proposed changes to make electric vehicles pay the congestion charge would cause minicab fares to rise and stop people switching away from diesel and petrol, drivers say.

    The plan is for owners of electric vehicles (EVs) to pay to drive in the capital’s congestion charging zone from next year.

    London’s congestion charge is due to increase by 20% to £18 a day from 2 January.

    Electric cars and vans had been exempt from paying the fee under a Cleaner Vehicle Discount but that will be scrapped from 2026. Transport for London (TfL) says the changes are necessary to reduce congestion due to the rising number of EVs.

    A man is sitting behind the wheel of a car

    From January, the drivers of EVs will have to pay the congestion for the first time

    Opponents say the move will reduce the take-up of cleaner EVs and increase minicab fares and stall the move away from petrol and diesel vehicles.

    TfL says the congestion charge will increase from £15 to £18 a day from 2 January “to make sure it remains effective”.

    Electric vehicles will also have to pay for the first time. There will be a 50% discount for electric vans, HGVs, light quadricycles and heavy quadricycles registered for Auto Pay.

    Electric cars will get a 25% discount if registered for Auto Pay, and will have to pay £13.50 a day.

    From March 2027, for new applicants only, the 90% residents’ discount will also only be available only for EVs.

    A man is sitting in his car looking to the passenger

    Minicab driver Kola Olalekan says the changes will cause Uber fares to rise

    Kola Olalekan has driven an electric minicab in central London for six years. He says having to pay £13.50 a day will put other drivers off getting EVs.

    He says it could also cause the fares to rise on ride-hailing apps such as Uber and Bolt as there will be fewer drivers.

    “There’s going to be a drop,” he says.

    “And when there’s a drop of the number of drivers available in central London, that will affect the fare that riders are going to be paying.

    “There’s going to be a surge. This job is based on surge pricing. So absolutely fares are going to go up, there will be fewer Ubers and no-one will want an EV.”

    A sign shows no entry for drivers going left and a congestion charge for those going right

    London’s congestion charging zone has been in place since 2003

    Edmund King, from the AA, says its research shows the majority of drivers are not quite ready to go electric – and taking away the incentive of being exempt from the congestion charge “may backfire on London and backfire on the environment”.

    “Getting rid of the discount, there is no doubt it will put off many drivers,” he says.

    “And when we look at congestion in central London, let’s be frank the speed of traffic has been the speed of a horse and cart for years so to be honest a few more electric vehicles isn’t going to make much difference.

    “We do feel this is a negative step. Getting rid of the exemption is coming far too early.”

    TfL had previously proposed to scrap the electric vehicle exemption entirely.

    It says without changes to the congestion charging scheme, about 2,200 more vehicles will use the congestion charging zone on an average weekday next year, leading to increased congestion and undermining the current scheme.

    In 2030 the discounts to electric vehicles will be reduced further.

    From 4 March 2030 it will be reduced to 25% for electric vans, HGVs, light quadricycles and heavy quadricycles registered for Auto Pay.

    The electric cars reduction will be reduced to a 12.5% discount.

    A formal announcement on the proposed changes to the congestion charge is due in the next few weeks.

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  • NTT DATA’s award-winning training initiative is driving AI literacy and skills development for all employees worldwide

    NTT DATA’s award-winning training initiative is driving AI literacy and skills development for all employees worldwide

    November 7, 2025

    NTT DATA Group Corporation

    TOKYO – November 7, 2025 – NTT DATA, a global leader in AI, digital business and technology services, today announced it is rapidly advancing AI literacy and practical skills development within the company’s global workforce across more than 70 countries. At the core of this effort is NTT DATA’s GenAI Academy, which delivers a unified, multi-tiered approach to AI learning and professional development for employees. The initiative underscores NTT DATA’s commitment to equipping its entire workforce with the AI capabilities needed to drive responsible innovation, efficiency and growth for the business and for clients.

    NTT DATA’s GenAI Academy was announced a year ago this month and has established a global standard for developing multiple levels of AI expertise. Self-paced learning, hands-on labs and applied use cases help employees translate expanded AI competency into measurable business value. Training also covers mandatory compliance with the company’s AI governance framework as well as security and risk-management policies. In addition to foundational AI training, the academy also provides mandatory advanced levels that include role-specific training tailored for specific job functions.

    Last month, NTT DATA’s GenAI Academy earned a Learning and Development Gold Award in the Brandon Hall Group Excellence Awards. NTT DATA also collaborates with technology leaders and partners including Amazon Web Services, Google Cloud, Microsoft and OpenAI to extend additional learning opportunities to employees.

    “AI competency is an essential new layer in business literacy, and our goal is to equip every team member with practical AI skills and responsible tools” said Yutaka Sasaki, President and CEO, NTT DATA Group. “Our GenAI Academy also helps ensure compliance with NTT DATA’s internal governance framework and policies for AI.”

    “AI skills and tools represent a new form of critical infrastructure, so we’re making the necessary investments to help our people move boldly and responsibly into the digital future,” said Abhijit Dubey, President and Chief Executive Officer, NTT DATA, Inc. “By ensuring AI literacy and expertise, we are empowering team members to fully leverage our comprehensive offerings for clients, including NTT DATA’s Smart AI Agent™ Ecosystem and our partnerships with world-leading technology providers and world-class startups.”

    In parallel with universal skills development, NTT DATA is deploying GenAI and agentic capabilities that integrate industry-leading AI tools with in-house solutions built on secure and compliant infrastructure. These capabilities are empowering employees to create innovative use cases within a safeguarded environment aligned with company policy and client transparency standards.

    About NTT DATA

    NTT DATA is a $30+ billion business and technology services leader, serving 75% of the Fortune Global 100. We are committed to accelerating client success and positively impacting society through responsible innovation. We are one of the world’s leading AI and digital infrastructure providers, with unmatched capabilities in enterprise-scale AI, cloud, security, connectivity, data centers and application services. Our consulting and industry solutions help organizations and society move confidently and sustainably into the digital future. As a Global Top Employer, we have experts in more than 70 countries. We also offer clients access to a robust ecosystem of innovation centers as well as established and start-up partners. NTT DATA is part of NTT Group, which invests over $3 billion each year in R&D. Visit us at nttdata.com

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  • Driving competition: China’s carmakers in race to dominate Europe’s roads | Automotive industry

    Driving competition: China’s carmakers in race to dominate Europe’s roads | Automotive industry

    When Tesla wanted to catch the eye of British buyers, it put its cars and bright signage at a dealership in west London’s prominent Hogarth roundabout. Exposure to half a million drivers every day helped the US carmaker to become the dominant electric vehicle seller in the UK. Yet drivers passing by that site now see something different: twin Chinese brands Omoda and Jaecoo, both owned by the state-controlled manufacturer Chery.

    Chinese cars are on a roll across Europe – they outsold Korean rivals in western Europe for the first time in September. That success is highly reliant on the UK. Of the half a million Chinese cars sold in western Europe between January and September, 30% were bought by Britons, according to Matthias Schmidt, a Berlin-based automotive analyst.

    “Their success has been remarkable,” says Steve Young, the managing director of the Hogarth dealership, which is owned by Turkish group Çetaş Otomotiv. “The site that we have here makes a statement. It’s a flag waver for us. Every minute or so the traffic lights change, and drivers are stuck outside our window.”

    Steve Young, standing by a Jaecoo vehicle at his west London dealership, says Chinese carmakers have ‘upped their game’. Photograph: Graeme Robertson/The Guardian

    China’s carmakers – backed heavily by its national and regional governments – have used the transition to electric cars as an opportunity to dominate the global automotive market.

    Global exports chart

    Trade barriers have been raised in the EU and US and the industry is struggling globally with supply chain issues. The decision by the Netherlands to take control of Nexperia, a Chinese-owned chipmaker, has prompted tit-for-tat export controls on vital semiconductors. And Beijing’s restrictions on rare earth metals used in everything from motors to magnets have also sent shivers down car executives’ spines, as Brussels scrambles to negotiate a similar pause to last month’s US-China trade agreement.

    Despite such hurdles, the UK remains resolutely open, making it a key battleground.

    The sales push in Britain has been led by China’s BYD, which is expected to overtake Tesla as the world’s largest maker of battery electric vehicles this year. The UK has become BYD’s biggest market outside China, after sales in September surged tenfold compared with a year earlier.

    Yet others have joined the party: state-owned Chery was actually the top-selling Chinese manufacturer in the UK in October. Its Jaecoo, Omoda and Chery brands have also targeted the UK with electric cars and hybrids, which combine a smaller battery with a petrol engine. MG has the name of a venerable UK brand, but monthly sales of its products, made by the state-owned SAIC, have overtaken those of Vauxhall, a resolutely British nameplate (albeit mostly made in Germany).

    Meanwhile, Sweden-based brands Volvo and Polestar are both controlled by China’s Geely, while Great Wall Motor, Volkswagen-backed Xpeng and Stellantis-backed Leapmotor have each sold more than 1,000 cars in the UK this year, ahead of an expected barrage of product launches.

    China sales chart

    In the US, Chinese electric and hybrid cars face 100% tariffs. EU electric car tariffs range from 17% to 38%, depending on the manufacturer. Those are not prohibitive, and hybrids are not included (giving a perverse incentive for Chinese carmakers to sell vehicles that emit more pollution). Italy and Spain have also emerged as targets for Chinese sellers.

    But the UK – a big importer of cars – has refrained from new tariffs, and the government has been keen to import electric models in order to hit carbon dioxide reduction targets.

    Mike Hawes, the chief executive of the Society of Motor Manufacturers and Traders, a lobby group, says the UK wants both a vibrant domestic market and a strong manufacturing base – all underpinned by “free and fair trade”.

    “UK car buyers benefit from a choice of more than 50 global brands and the market has always been open to new entrants,” he says. Chinese brands are “driving competition as more established market players demonstrate their agility, accelerating model development and reducing costs”.

    Diplomatic concerns may also have played a role, although the recent tensions over alleged spying by China highlight Britain’s changeable stance towards the world’s second biggest economy.

    “The biggest influence [in the UK not imposing tariffs] is there isn’t a domestic automotive manufacturer to protect,” says Tu Le, an ex-automotive worker in Detroit and Shanghai who founded Sino Auto Insights, a consultancy.

    UK market share chart

    Schmidt says British consumers have been more open to previous waves of foreign brands as well. In the 1980s, Margaret Thatcher as prime minister tempted the Japanese carmakers Nissan, Honda and Toyota to produce in the UK, selling it as the gateway to Europe. (That advantage was complicated 40 years later by rules of origin brought in as a consequence of Brexit.) The next wave was Korean cars, this time imported.

    “History is repeating itself,” says Schmidt. Britain has become Chinese brands’ first port of call in Europe – albeit without any manufacturing footprint as yet.

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    Poor quality Chinese cars used to be treated as a punchline by western executives. The joke has long worn thin. China overtook Japan as the world’s largest exporter in 2023. As well as Europe, Chinese carmakers have continued to sell in Russia, while European manufacturers have been blocked since the full-scale invasion of Ukraine in 2022. Latin America is also of increasing interest.

    “There have been two waves to the Chinese entrants coming to Europe,” says Young. “Some of the initial product was not fit for the UK market. The brands generally have upped their game.”

    Yet the push for scale – often backed by city regions competing with each other – has resulted in massive overcapacity in the Chinese automotive factories. The industry could theoretically make 55.5m vehicles annually, but actually used just under half that potential, according to data cited by Bloomberg from the Shanghai-based Gasgoo Automotive Research Institute.

    That has led to a brutal price war in the Chinese market. The Chinese Communist party has told manufacturers to stop trying to undercut each other, fearing “involution”, or competition so intense that it could stop progress as companies enter a self-defeating spiral.

    Price wars at home mean exports make even more sense. Yet Andrew Bergbaum, the global leader of the automotive and industrial practice at AlixPartners, a consultancy, says the Chinese companies that have managed to break into the European market are often selling their cars at much higher prices than at home – hardly an indicator of desperation to offload products.

    “If you look at the brands that are actually exporting, they’re typically the strong brands,” Bergbaum says. “It’s more of a strategy than a dumping of capacity. The fact that they can sell at a higher price point is very attractive.”

    China’s market assault comes at a time when Europe is also struggling with excess factory capacity. AlixPartners estimated that European carmakers may have eight factories too many, as they may lose as many as 2 million sales to Chinese brands in the coming years.

    That excess space, coupled with a tariff incentive to build in Europe, could mean Chinese carmakers snap up sites from older rivals. That has already happened in Barcelona, where Japan’s Nissan closed its factory, only for Chery to take it over.

    European politicians and carmakers have argued forcefully that Chinese carmakers have benefited from heavy subsidies that have allowed them to undercut (although western carmakers have hardly been starved of assistance from their own governments). But a key reason for the Chinese sales surge is simple. Consumers like them.

    Tanya Sinclair, chief executive of Electric Vehicles UK, an industry-funded group pushing to increase battery sales, says that “UK drivers are benefiting”.

    “Some names may be new, but the appeal is clear: high standards, competitive pricing, and innovation that raises the bar for everyone,” she says. “There will always be a strong place for British-built vehicles, provided they’re part of our battery-electric future. But competition and choice are what keep the market strong.”

    Look inside the cars, and the draw for consumers becomes clear. Bells and whistles available in some Chinese brands range from the perhaps limited appeal of in-built karaoke apps, to more advanced technology such as driver assistance. Crucially, the manufacturers are offering many of those features at much lower prices than European premium brands.

    “At the end of the day, it’s value,” says Le. “These cars are good. If I build better products that provide more value to my customer, I win.”

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