As US President Donald Trump ramps up pressure on Chinese imports with plans to double tariffs on steel and aluminium, fresh turbulence is erupting in China’s auto industry.&nbsp;&nbsp;The world’s largest car market is facing intense price wars, a situation that Beijing reportedly now calls “unsustainable” and dangerous for long-term industrial health.&nbsp;According to Reuters, on Saturday, China’s Ministry of Industry and Information Technology (MIIT) issued a rare public warning, urging domestic automakers to stop “brutal price wars” that it says are damaging profitability and destabilising the sector, according to state news agency Xinhua.&nbsp;&nbsp;This comes at a critical moment. The global auto supply chain is already bracing for impact as the US under Trump signals a hard line on trade.&nbsp;&nbsp;Washington is preparing to double tariffs on Chinese steel and aluminium exports and talks between Beijing and Washington over broader trade concerns remain deadlocked.<h2>An industry under-price siege</h2>Since early 2023, China’s carmakers have been reportedly locked in an escalating cycle of discount wars.&nbsp;&nbsp;Leading the latest round is BYD, China’s biggest electric vehicle (EV) manufacturer, which introduced fresh subsidies on over 20 models last week, including government-backed trade-in offers.&nbsp;According to Reuters, the cost of BYD’s Seagull electric hatchback has been slashed to as low as 55,800 yuan (around $7,750), triggering a domino effect.&nbsp;&nbsp;Rivals like Geely and Chery have since followed suit with their own price cuts. &nbsp;The China Association of Automobile Manufacturers (CAAM) also issued a parallel appeal on Saturday, calling the discounting spiral a “panic-triggered” trend that hurts operational efficiency and long-term viability.&nbsp; &nbsp;“Apart from reducing the price of goods according to law, enterprises shall not dump goods at prices below cost,” CAAM, in a statement released via state media as reported by Reuters.&nbsp; &nbsp;The organisation advised automakers to uphold fair competition and avoid monopolistic pricing practices.<h2>Internal friction: BYD vs Great Wall</h2>The government’s plea reportedly follows a public spat between industry heavyweights. On Friday, a BYD executive reportedly dismissed concerns about industry instability as “alarmist”, in response to Great Wall Motor Chairman Wei Jianjun, who reportedly warned that cutthroat pricing was hitting not just carmakers, but also their suppliers.&nbsp;According to Reuters, Wei said the industry was becoming “unhealthy” under the pressure of constant undercutting, a rare admission from a top Chinese automotive executive.<h2>Tariff tensions in the backdrop</h2>This domestic unrest is unfolding just as the external environment becomes more hostile.&nbsp; &nbsp;Last month, the US slapped fresh tariffs on several Chinese goods, including a proposal to double duties on Chinese steel and aluminium.&nbsp;&nbsp;This could reportedly disrupt raw material flows crucial to EV manufacturing.&nbsp;US officials have also raised concerns over the global dominance of Chinese EVs and components, with President Trump promising to “defend American manufacturing”.&nbsp;&nbsp;Meanwhile, China is reportedly preparing retaliatory measures, although no formal announcements have been made. &nbsp;According to Bloomberg, US-China trade talks remain gridlocked, with officials struggling to find common ground on tariffs, technology transfer, and market access.&nbsp; &nbsp;The auto sector, which sits at the intersection of all three, is particularly exposed.<h2>What lies ahead?</h2>As both domestic and international pressure mounts, Beijing appears to be recalibrating its strategy. The MIIT’s intervention reportedly signals that authorities may soon push for industry-wide pricing norms, or even regulatory scrutiny of aggressive discounting practices.&nbsp;For automakers like BYD, Geely, Chery, and Great Wall, the challenge now is two-fold: navigating rising input costs amid tariff uncertainty, while avoiding a profit squeeze from endless price battles.

Business & Economy: With President Trump increasing pressure on Chinese imports through plans to double tariffs on steel and aluminium, China automotive sector is experiencing substantial upheaval characterized by intense price competition. 

As US President Donald Trump ramps up pressure on Chinese imports with plans to double tariffs on steel and aluminium, fresh turbulence is erupting in China’s auto industry. The world’s largest car market is facing intense price wars, a situation that Beijing reportedly now calls “unsustainable” and dangerous for long-term industrial health. According to Reuters, on Saturday, China’s Ministry of Industry and Information Technology (MIIT) issued a rare public warning, urging domestic automakers to stop “brutal price wars” that it says are damaging profitability and destabilising the sector, according to state news agency Xinhua. This comes at a critical moment. The global auto supply chain is already bracing for impact as the US under Trump signals a hard line on trade. Washington is preparing to double tariffs on Chinese steel and aluminium exports and talks between Beijing and Washington over broader trade concerns remain deadlocked. An industry under-price siege Since early 2023, China’s carmakers have been reportedly locked in an escalating cycle of discount wars. Leading the latest round is BYD, China’s biggest electric vehicle (EV) manufacturer, which introduced fresh subsidies on over 20 models last week, including government-backed trade-in offers. According to Reuters, the cost of BYD’s Seagull electric hatchback has been slashed to as low as 55,800 yuan (around $7,750), triggering a domino effect. Rivals like Geely and Chery have since followed suit with their own price cuts. The China Association of Automobile Manufacturers (CAAM) also issued a parallel appeal on Saturday, calling the discounting spiral a “panic-triggered” trend that hurts operational efficiency and long-term viability. “Apart from reducing the price of goods according to law, enterprises shall not dump goods at prices below cost,” CAAM, in a statement released via state media as reported by Reuters. The organisation advised automakers to uphold fair competition and avoid monopolistic pricing practices. Internal friction: BYD vs Great Wall The government’s plea reportedly follows a public spat between industry heavyweights. On Friday, a BYD executive reportedly dismissed concerns about industry instability as “alarmist”, in response to Great Wall Motor Chairman Wei Jianjun, who reportedly warned that cutthroat pricing was hitting not just carmakers, but also their suppliers. According to Reuters, Wei said the industry was becoming “unhealthy” under the pressure of constant undercutting, a rare admission from a top Chinese automotive executive. Tariff tensions in the backdrop This domestic unrest is unfolding just as the external environment becomes more hostile. Last month, the US slapped fresh tariffs on several Chinese goods, including a proposal to double duties on Chinese steel and aluminium. This could reportedly disrupt raw material flows crucial to EV manufacturing. US officials have also raised concerns over the global dominance of Chinese EVs and components, with President Trump promising to “defend American manufacturing”. Meanwhile, China is reportedly preparing retaliatory measures, although no formal announcements have been made. According to Bloomberg, US-China trade talks remain gridlocked, with officials struggling to find common ground on tariffs, technology transfer, and market access. The auto sector, which sits at the intersection of all three, is particularly exposed. What lies ahead? As both domestic and international pressure mounts, Beijing appears to be recalibrating its strategy. The MIIT’s intervention reportedly signals that authorities may soon push for industry-wide pricing norms, or even regulatory scrutiny of aggressive discounting practices. For automakers like BYD, Geely, Chery, and Great Wall, the challenge now is two-fold: navigating rising input costs amid tariff uncertainty, while avoiding a profit squeeze from endless price battles.

With President Trump increasing pressure on Chinese imports through plans to double tariffs on steel and aluminium, China's automotive sector is experiencing substantial upheaval characterized by intense price competition.

China warns auto giants to halt price wars as US tariff tension escalates: Details here

When he started his tenure (nine years ago) as the Indian Minister for Road Transport and Highways, the country was the 7th largest automobile economy in the world, and at present New Delhi has surpassed Japan to become the third-largest automobile economy in the world, said Nitin Gadkari. The Minister for Road Transport and Highways was speaking at the 75th year celebratory event of Indian automobile major Ashok Leyland and he expressed confidence about India becoming the top automobile manufacturing hub in the world.&nbsp;

“We (India) are the fastest growing nation in the world and the automobile sector is our growth engine, as it constitutes 6.5 per cent of GDP and contributes the highest amount of Goods and Services Tax to State and Central Governments. From Rs 4.5 lakh crore in 2014, now our automobile sector is worth Rs 12.5 lakh crore,” he said. He added that the sector offered employment for more than 4.5 crore (45 million)&nbsp;persons.

ALSO READ |<a href="https://www.wionews.com/india-news/indian-firm-skyroot-aerospace-test-fires-3-d-printed-cryogenic-engine-spacefaring-rocket-launch-by-2023-end-579750">&nbsp;Indian firm test fires 3-D printed cryogenic engine; spacefaring rocket launch by 2023 end</a>

On this occasion of Ashok Leyland entering into its 76th year, the Minister of Road Transport and Highways unveiled the Electric Light Commercial Vehicles from Switch Mobility – the IeV Series. The IeV Series is said to be India’s first electric commercial vehicle in its category and aims to provide efficient and eco-friendly solutions for last-mile transportation needs.&nbsp;

The firm also showcased the new, 9-meter, Hydrogen Fuel-Cell Electric Bus developed for NTPC (National Thermal Power Corporation). This is India’s first fuel cell bus that will commercially ply on the country’s roads, they said.

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/exclusive-how-chola-era-skill-was-used-to-sculpt-8-metal18-ton-nataraja-idol-in-7months-632945">Exclusive: How Chola-era skill was used to sculpt 8-metal,18-tonne Nataraja idol, in 7 months</a>

Speaking at the event, Dheeraj Hinduja, Chairman of Ashok Leyland and Switch Mobility mentioned that their firm was taking big steps to develop and launch Electric buses in India and the United Kingdom.&nbsp; 
 
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When he started his tenure (nine years ago) as the Indian Minister for Road Transport and Highways, the country was the 7th largest automobile economy in the world, and at present New Delhi has surpassed Japan to become the third-largest automobile economy in the world, said Nitin Gadkari.

When he started his tenure (nine years ago) as the Indian Minister for Road Transport and Highways, the country was the 7th largest automobile economy in the world, and at present New Delhi has surpassed Japan to become the third-largest automobile economy in the world, said Nitin Gadkari. The Minister for Road Transport and Highways was speaking at the 75th year celebratory event of Indian automobile major Ashok Leyland and he expressed confidence about India becoming the top automobile manufacturing hub in the world. “We (India) are the fastest growing nation in the world and the automobile sector is our growth engine, as it constitutes 6.5 per cent of GDP and contributes the highest amount of Goods and Services Tax to State and Central Governments. From Rs 4.5 lakh crore in 2014, now our automobile sector is worth Rs 12.5 lakh crore,” he said. He added that the sector offered employment for more than 4.5 crore (45 million) persons. ALSO READ | Indian firm test fires 3-D printed cryogenic engine; spacefaring rocket launch by 2023 end On this occasion of Ashok Leyland entering into its 76th year, the Minister of Road Transport and Highways unveiled the Electric Light Commercial Vehicles from Switch Mobility – the IeV Series. The IeV Series is said to be India’s first electric commercial vehicle in its category and aims to provide efficient and eco-friendly solutions for last-mile transportation needs. The firm also showcased the new, 9-meter, Hydrogen Fuel-Cell Electric Bus developed for NTPC (National Thermal Power Corporation). This is India’s first fuel cell bus that will commercially ply on the country’s roads, they said. ALSO READ | Exclusive: How Chola-era skill was used to sculpt 8-metal,18-tonne Nataraja idol, in 7 months Speaking at the event, Dheeraj Hinduja, Chairman of Ashok Leyland and Switch Mobility mentioned that their firm was taking big steps to develop and launch Electric buses in India and the United Kingdom. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

In 9 years, India has become 3rd automobile economy from 7th: Nitin Gadkari

In a groundbreaking development, Indian carmakers have reached an agreement to eliminate import taxes on a limited number of vehicles in a trade deal with Britain. According to Reuters, the move promises improved access to India's thriving automobile market, the third-largest in the world. While the proposal seeks to enhance trade prospects, industry experts debate the extent of its impact due to the limited quota.

India currently imposes import taxes ranging from 70 percent to 100 percent on cars, but under the proposed plan, these rates will be gradually reduced to 10 percent over a five-year period. However, this tax reduction will only apply to a maximum of 46,200 vehicles, as proposed by the Society of Indian Automobile Manufacturers (SIAM) to the government. Additionally, SIAM has expressed openness to a zero percent import tax if deemed necessary during the negotiations.

Outside of the limited quota, SIAM has suggested a gradual reduction of the import tax on cars to 30 percent over a ten-year period, with the possibility of further cuts beyond the fifth year, contingent upon the growth of overall import volumes from Britain.

India's automobile market, known for its high import taxes, has long been a topic of contention for global automakers. Companies such as Tesla previously postponed their entry into the Indian market due to the challenging tax environment. The proposed import tax reductions aim to address this concern and open up new avenues for international automakers, fostering increased competition and innovation.

India witnessed a record-breaking sale of 4 million cars in the fiscal year ending March 31, 2023. SIAM's proposal for zero duties initially focuses on 26,400 cars in the first year, gradually increasing to a maximum of 46,200 vehicles over a decade. It is important to note that this quota applies exclusively to combustion engine cars, with electric, hybrid, hydrogen, and fuel cell vehicles excluded from the proposal.

While some experts argue that the limited number of vehicles proposed under the scheme might not yield significant results, others believe that even a small entry into India's vast market can be highly profitable and influential.

This marks the first time that Indian carmakers have agreed to such substantial import tax cuts, reflecting their response to mounting pressure from the government to relinquish their protectionist position. However, concerns have been raised regarding the potential impact on domestic manufacturing, with some arguing that cheaper and easier imports for global automakers could hamper investments in the domestic industry.

Additionally, the fear of setting a precedent in future trade negotiations with other major players like the European Union (EU), Japan, and South Korea has been expressed by industry sources. The outcome of the ongoing India-Britain trade pact negotiations holds significant implications for the trajectory of trade relationships and potential economic growth.

The negotiations between India and Britain began in January of the previous year with the aim of doubling trade to a staggering $100 billion by 2030. Although the countries missed the initial October 2022 deadline to conclude the deal, discussions have continued, highlighting the complexity and significance of this trade agreement.

How reduction in import taxes can be helpful

The reduction in import taxes is seen as a crucial step toward unlocking India's immense market potential and attracting foreign investment. It is anticipated that this move will foster healthy competition, stimulate technological advancements, and provide consumers with a wider range of options at more competitive prices.

First and foremost, it will create an environment conducive to increased foreign investment. By lowering the financial barriers associated with import taxes, international automakers will find it more enticing to establish a presence in India. This, in turn, can lead to the establishment of new manufacturing facilities, job creation, and the infusion of advanced technologies into the domestic automotive sector.

Moreover, the reduction in import taxes will foster healthy competition among both domestic and international players. As automakers vie for a larger share of the Indian market, consumers can anticipate a wider selection of vehicles at more competitive prices. This will not only provide greater choice and affordability but also incentivize the development of vehicles tailored to Indian preferences and needs.

(Inputs from Reuters)

In a groundbreaking development, Indian carmakers have reached an agreement to eliminate import taxes on a limited number of vehicles in a trade deal with Britain.

In a groundbreaking development, Indian carmakers have reached an agreement to eliminate import taxes on a limited number of vehicles in a trade deal with Britain. According to Reuters, the move promises improved access to India's thriving automobile market, the third-largest in the world. While the proposal seeks to enhance trade prospects, industry experts debate the extent of its impact due to the limited quota. India currently imposes import taxes ranging from 70 percent to 100 percent on cars, but under the proposed plan, these rates will be gradually reduced to 10 percent over a five-year period. However, this tax reduction will only apply to a maximum of 46,200 vehicles, as proposed by the Society of Indian Automobile Manufacturers (SIAM) to the government. Additionally, SIAM has expressed openness to a zero percent import tax if deemed necessary during the negotiations. Outside of the limited quota, SIAM has suggested a gradual reduction of the import tax on cars to 30 percent over a ten-year period, with the possibility of further cuts beyond the fifth year, contingent upon the growth of overall import volumes from Britain. India's automobile market, known for its high import taxes, has long been a topic of contention for global automakers. Companies such as Tesla previously postponed their entry into the Indian market due to the challenging tax environment. The proposed import tax reductions aim to address this concern and open up new avenues for international automakers, fostering increased competition and innovation. India witnessed a record-breaking sale of 4 million cars in the fiscal year ending March 31, 2023. SIAM's proposal for zero duties initially focuses on 26,400 cars in the first year, gradually increasing to a maximum of 46,200 vehicles over a decade. It is important to note that this quota applies exclusively to combustion engine cars, with electric, hybrid, hydrogen, and fuel cell vehicles excluded from the proposal. While some experts argue that the limited number of vehicles proposed under the scheme might not yield significant results, others believe that even a small entry into India's vast market can be highly profitable and influential. This marks the first time that Indian carmakers have agreed to such substantial import tax cuts, reflecting their response to mounting pressure from the government to relinquish their protectionist position. However, concerns have been raised regarding the potential impact on domestic manufacturing, with some arguing that cheaper and easier imports for global automakers could hamper investments in the domestic industry. Additionally, the fear of setting a precedent in future trade negotiations with other major players like the European Union (EU), Japan, and South Korea has been expressed by industry sources. The outcome of the ongoing India-Britain trade pact negotiations holds significant implications for the trajectory of trade relationships and potential economic growth. The negotiations between India and Britain began in January of the previous year with the aim of doubling trade to a staggering $100 billion by 2030. Although the countries missed the initial October 2022 deadline to conclude the deal, discussions have continued, highlighting the complexity and significance of this trade agreement. How reduction in import taxes can be helpful The reduction in import taxes is seen as a crucial step toward unlocking India's immense market potential and attracting foreign investment. It is anticipated that this move will foster healthy competition, stimulate technological advancements, and provide consumers with a wider range of options at more competitive prices. First and foremost, it will create an environment conducive to increased foreign investment. By lowering the financial barriers associated with import taxes, international automakers will find it more enticing to establish a presence in India. This, in turn, can lead to the establishment of new manufacturing facilities, job creation, and the infusion of advanced technologies into the domestic automotive sector. Moreover, the reduction in import taxes will foster healthy competition among both domestic and international players. As automakers vie for a larger share of the Indian market, consumers can anticipate a wider selection of vehicles at more competitive prices. This will not only provide greater choice and affordability but also incentivize the development of vehicles tailored to Indian preferences and needs. (Inputs from Reuters)

India-UK automobile trade likely to get a big boost. Here's why

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Global chip shortage is pinching automobile industry and it is likely to continue till 2023.

Global chip shortage  pinches automobile industry

Watch today in World Business Watch: Automotive manufacturer Daimler to be smaller company in five years.

World Business Watch: Automotive manufacturer Daimler to be smaller company in five years

When Karl Benz received a patent of what is known as the first practical automobile in 1886, few would have known that his three-wheeled Motorwagen has given birth to an industry.

Benz's work is the foundation of the modern-day car and the internal combustion engine is still in use today.

But, the auto industry is on the cusp of disruption. Cars running on fuel are making way for the battery. Everyone wants to jump in on this hot trend. Smaller companies with fewer resources are challenging the giants and when it's all said and done, only a few might survive. There will be wins and losses on both sides.

First, let's look at the most critical component of an electronic vehicle - the battery.

All of them use what is called lithium-ion batteries which are made up of metals lithium, cobalt, nickel and manganese.

Only a few countries have strong reserves of these metals. China has brought many mines in Congo, Bolivia, Chile and Australia. And it controls half of the cobalt mines in Congo.

China wants to become a global hub for batteries&nbsp;and electric vehicles, and it already controls more than 60 per cent of the global market share in batteries.&nbsp;

In 2018, China was the largest producer of electric vehicles. According to a report, China has 99 per cent of the world's 250 million electric two-wheelers. It's now applying the same technology to churn out more electric four-wheelers. Reports say China has more than 100 electric car makers already.

However, the adoption of e-vehicles is still a distant dream in India. Electric scooters are a common sight in major cities now. Some electric cars have been launched, but mass adoption is still a few years away.

For now, there is over-dependence on China for supplies of parts. Reportedly, India imports 90 per cent of electric scooter components from China.

Three years back, the Indian government had sent an ambitious target, it wanted all cars on the streets to go electric by 2030. But a pushback by the industry and fears of job losses led to a rethink.&nbsp;

India just doesn't need electric vehicles, it needs an entire ecosystem to support this shift. According to a survey in 2019, 90 per cent of car owners are ready to make the switch to e-vehicles, provided the right infrastructure is in place.

Support of state government and local authorities will be critical to make the transition. The need of the hour is a common framework and clear policy which assures a smooth transition.&nbsp;

Auto is one of the biggest industries in India, it employs around 35 million people and contributes more than 7 per cent to the GDP. A sudden shift to electric will trigger a backlash.&nbsp;

The government of India must roll out policies to encourage on the job training programmes, something that would prepare the workforce for the big change. 
 
(Disclaimer: WION Edit is the channel's take on the big events of the world) 
 
&nbsp;

When Karl Benz received a patent of what is known as the first practical automobile in 1886, few would have known that his three-wheeled Motorwagen has given birth to an industry.

When Karl Benz received a patent of what is known as the first practical automobile in 1886, few would have known that his three-wheeled Motorwagen has given birth to an industry. Benz's work is the foundation of the modern-day car and the internal combustion engine is still in use today. But, the auto industry is on the cusp of disruption. Cars running on fuel are making way for the battery. Everyone wants to jump in on this hot trend. Smaller companies with fewer resources are challenging the giants and when it's all said and done, only a few might survive. There will be wins and losses on both sides. First, let's look at the most critical component of an electronic vehicle - the battery. All of them use what is called lithium-ion batteries which are made up of metals lithium, cobalt, nickel and manganese. Only a few countries have strong reserves of these metals. China has brought many mines in Congo, Bolivia, Chile and Australia. And it controls half of the cobalt mines in Congo. China wants to become a global hub for batteries and electric vehicles, and it already controls more than 60 per cent of the global market share in batteries. In 2018, China was the largest producer of electric vehicles. According to a report, China has 99 per cent of the world's 250 million electric two-wheelers. It's now applying the same technology to churn out more electric four-wheelers. Reports say China has more than 100 electric car makers already. However, the adoption of e-vehicles is still a distant dream in India. Electric scooters are a common sight in major cities now. Some electric cars have been launched, but mass adoption is still a few years away. For now, there is over-dependence on China for supplies of parts. Reportedly, India imports 90 per cent of electric scooter components from China. Three years back, the Indian government had sent an ambitious target, it wanted all cars on the streets to go electric by 2030. But a pushback by the industry and fears of job losses led to a rethink. India just doesn't need electric vehicles, it needs an entire ecosystem to support this shift. According to a survey in 2019, 90 per cent of car owners are ready to make the switch to e-vehicles, provided the right infrastructure is in place. Support of state government and local authorities will be critical to make the transition. The need of the hour is a common framework and clear policy which assures a smooth transition. Auto is one of the biggest industries in India, it employs around 35 million people and contributes more than 7 per cent to the GDP. A sudden shift to electric will trigger a backlash. The government of India must roll out policies to encourage on the job training programmes, something that would prepare the workforce for the big change. (Disclaimer: WION Edit is the channel's take on the big events of the world)

WION Edit: China set to gain from disruption in auto industry

It's quite evident that the automobile Industry is on the cusp of a disruption. Every automobile major wants to jump on to the trend of EVs. But who will gain from this disruption?

WION Edit: Global Automobile Disruption: Winners & Losers

The global automobile industry is on a bumpy road. General Motors close 3 plants in 2019 while Mercedes Benz has announced plans to cut 10,000 jobs. Volkswagen Audi, Ford, Nissan, this trend extends across the sector.

Gravitas: What's The Future Of Global Auto Industry?

<a href="https://www.wionews.com/world/tesla-delivers-first-batch-of-china-made-cars-271122">Elon Musk</a> showed off striptease moves at the launch of Tesla's&nbsp;Model Y electric sports utility vehicle programme at its new Shanghai factory on Tuesday, where the company delivered its first cars built outside the United States to the public.

The $2 billion <a href="https://www.wionews.com/business-economy/rivals-gear-up-for-2020-after-teslas-model-3-sedan-hits-record-year-in-norway-271896">Tesla Inc</a> factory started delivering cars in just 357 days, a record for global automakers in China. The first 10 customers from the public received their China-made <a href="https://www.wionews.com/world/tesla-says-will-start-delivering-china-made-model-3s-to-public-on-january-7-271722">Model 3 sedans</a> on Tuesday.

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At Tesla Giga Shanghai NSFW!! <a href="https://t.co/1yrPyzJQGZ">pic.twitter.com/1yrPyzJQGZ</a>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1214483582363693057?ref_src=twsrc%5Etfw">January 7, 2020</a></blockquote>
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Billionaire CEO Musk danced enthusiastically on stage at the event, then stripped off his jacket and flung it aside to reveal a T-shirt with a cartoon of the factory. In a tweet, he labelled the video "NSFW" - not safe for work.

He predicted that "ultimately Tesla Model Y will have more demand than probably all the other cars of Tesla combined", with his voice cracking with emotion at times while talking about the progress of the Shanghai factory.

<img alt="Tesla Inc CEO Elon Musk dances onstage during a delivery event" data-entity-type="file" data-entity-uuid="c97caf56-b0d0-407e-b077-89fd4f0ab29e" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%288%29_7.jpg" /> 
[Tesla Inc CEO Elon Musk dances onstage during a delivery event (Courtesy: Reuters)]

The ceremony was attended by Shanghai Mayor Ying Yong and other senior government officials.

Tesla executives, however, did not provide further details on the progress of the China-made Model Y project. A <a href="https://www.wionews.com/world/tesla-delivers-first-batch-of-china-made-cars-271122">Tesla</a> representative declined to comment further.

Tesla's shares are trading close to their record high after it beat Wall Street estimates for vehicle deliveries in its fourth quarter. News of production ramp-up in its China factory and upbeat early deposits for its recently launched pickup truck have also supported its share price.

<img alt="Tesla Model 3 vehicles are seen during a delivery event at its factory in Shanghai" data-entity-type="file" data-entity-uuid="8a257650-0a94-478e-b6a0-028c2f3645f6" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%289%29_11.jpg" /> 
[Tesla Model 3 vehicles are seen during a delivery event at its factory in Shanghai (Courtesy: Reuters)]

Construction of Tesla's first plant outside the United States began in January and production started in October.

The factory started with a production capacity of 150,000 <a href="https://www.wionews.com/business-economy/tesla-to-take-new-14-billion-loan-from-chinese-banks-for-shanghai-factory-sources-269723">Model 3 sedans</a> and Tesla aims to push that to 250,000 vehicles a year, including Model Y, in the plant's first phase.

Tesla unveiled its Model Y in March 2019 and said in October that production of the electric compact SUV at its Fremont facility was running ahead of schedule, adding at the time that it expects to launch the model by summer 2020.

<img alt="A Tesla Model 3 car owner sitting inside a car" data-entity-type="file" data-entity-uuid="b3a903dc-3ca8-4def-aa8d-60ed9ca001bc" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%287%29_10.jpg" /> 
[A Tesla Model 3 car owner sitting inside a car (Courtesy: Reuters)]

It has said that margin expectations are higher for Model Y than Model 3, while production costs are roughly the same.

Tesla's China website estimates the starting price for Model Y vehicles at 444,000 yuan ($63,911.56). It will announce the retail price later, the website says. The China-made Model 3 sedans are priced at 355,800 yuan before subsidies.

Shanghai Vice Mayor Wu Qing said he hoped to see Tesla extend its cooperation with the city and for the car maker to manufacture more models at its Chinese plant.

Elon Musk showed off striptease moves at the launch of Tesla's Model Y electric sports utility vehicle programme at its new Shanghai factory on Tuesday, where the company delivered its first cars built outside the United States to the public.

Elon Musk showed off striptease moves at the launch of Tesla's Model Y electric sports utility vehicle programme at its new Shanghai factory on Tuesday, where the company delivered its first cars built outside the United States to the public. The $2 billion Tesla Inc factory started delivering cars in just 357 days, a record for global automakers in China. The first 10 customers from the public received their China-made Model 3 sedans on Tuesday. At Tesla Giga Shanghai NSFW!! pic.twitter.com/1yrPyzJQGZ — Elon Musk (@elonmusk) January 7, 2020 × Billionaire CEO Musk danced enthusiastically on stage at the event, then stripped off his jacket and flung it aside to reveal a T-shirt with a cartoon of the factory. In a tweet, he labelled the video "NSFW" - not safe for work. He predicted that "ultimately Tesla Model Y will have more demand than probably all the other cars of Tesla combined", with his voice cracking with emotion at times while talking about the progress of the Shanghai factory. [Tesla Inc CEO Elon Musk dances onstage during a delivery event (Courtesy: Reuters)] The ceremony was attended by Shanghai Mayor Ying Yong and other senior government officials. Tesla executives, however, did not provide further details on the progress of the China-made Model Y project. A Tesla representative declined to comment further. Tesla's shares are trading close to their record high after it beat Wall Street estimates for vehicle deliveries in its fourth quarter. News of production ramp-up in its China factory and upbeat early deposits for its recently launched pickup truck have also supported its share price. [Tesla Model 3 vehicles are seen during a delivery event at its factory in Shanghai (Courtesy: Reuters)] Construction of Tesla's first plant outside the United States began in January and production started in October. The factory started with a production capacity of 150,000 Model 3 sedans and Tesla aims to push that to 250,000 vehicles a year, including Model Y, in the plant's first phase. Tesla unveiled its Model Y in March 2019 and said in October that production of the electric compact SUV at its Fremont facility was running ahead of schedule, adding at the time that it expects to launch the model by summer 2020. [A Tesla Model 3 car owner sitting inside a car (Courtesy: Reuters)] It has said that margin expectations are higher for Model Y than Model 3, while production costs are roughly the same. Tesla's China website estimates the starting price for Model Y vehicles at 444,000 yuan ($63,911.56). It will announce the retail price later, the website says. The China-made Model 3 sedans are priced at 355,800 yuan before subsidies. Shanghai Vice Mayor Wu Qing said he hoped to see Tesla extend its cooperation with the city and for the car maker to manufacture more models at its Chinese plant.

Elon Musk launches new Tesla SUV programme at Shanghai factory

The sale of new electric cars in <a href="https://www.wionews.com/business-economy/dollar-snaps-six-day-losing-streak-a-flat-start-for-2020-271653">Norway</a> rose by 30.9 per cent&nbsp;last year amid soaring demand for <a href="https://www.wionews.com/world/study-finds-google-system-could-improve-breast-cancer-detection-271720">Tesla Inc's</a> vehicles, but the pioneering US&nbsp;firm faces rising competition from rival automakers in 2020.

Fully electric cars made up 42.4 per cent&nbsp;of sales in the Nordic nation last year, a global record, rising from a 31.2 per cent&nbsp;market share in 2018 and just 5.5 per cent&nbsp;in 2013, the Norwegian Road Federation said on Friday.

Seeking to become the first country to end the sale of fossil-fueled cars by 2025, Norway exempts battery-powered vehicles from the taxes imposed on petrol and diesel engines.

This year, as many as six in 10 of all new cars sold in the country could be fully electric, said <a href="https://www.wionews.com/business-economy/volkswagens-german-plants-need-to-shape-up-production-chief-266997">Volkswagen</a> (VW) distributor Harald A. Moeller AS, which is preparing to launch several models in 2020.&nbsp;

"The electrification of the car market is accelerating,&nbsp;we forecast electric vehicles to hold a 100 per cent&nbsp;market share in 2025," the importer said of the outlook for Norway.

The country's best-selling car in 2019 was Tesla's mid-sized <a href="https://www.wionews.com/world/tesla-says-will-start-delivering-china-made-model-3s-to-public-on-january-7-271722">Model 3 sedan</a>, which retails from 384,900 Norwegian crowns ($43,721.74), racking up an 11 per cent&nbsp;market share in the California-based firm's first attempt at addressing the mass market.

The sale of new electric cars in Norway rose by 30.9 per cent last year amid soaring demand for Tesla Inc's vehicles, but the pioneering US firm faces rising competition from rival automakers in 2020.

The sale of new electric cars in Norway rose by 30.9 per cent last year amid soaring demand for Tesla Inc's vehicles, but the pioneering US firm faces rising competition from rival automakers in 2020. Fully electric cars made up 42.4 per cent of sales in the Nordic nation last year, a global record, rising from a 31.2 per cent market share in 2018 and just 5.5 per cent in 2013, the Norwegian Road Federation said on Friday. Seeking to become the first country to end the sale of fossil-fueled cars by 2025, Norway exempts battery-powered vehicles from the taxes imposed on petrol and diesel engines. This year, as many as six in 10 of all new cars sold in the country could be fully electric, said Volkswagen (VW) distributor Harald A. Moeller AS, which is preparing to launch several models in 2020. "The electrification of the car market is accelerating, we forecast electric vehicles to hold a 100 per cent market share in 2025," the importer said of the outlook for Norway. The country's best-selling car in 2019 was Tesla's mid-sized Model 3 sedan, which retails from 384,900 Norwegian crowns ($43,721.74), racking up an 11 per cent market share in the California-based firm's first attempt at addressing the mass market.

Rivals gear up for 2020 after Tesla's Model 3 sedan hits record year in Norway

US&nbsp;electric vehicle maker <a href="https://www.wionews.com/world/tesla-says-will-start-delivering-china-made-model-3s-to-public-on-january-7-271722">Tesla Inc</a> cut the starting price for its China-made Model 3 sedans by 16 per cent&nbsp;to 299,050 yuan ($42,919) after receiving Chinese subsidies for electric vehicles, according to its China website.

The reduction, partly thanks to 24,750 yuan of subsidies, from an earlier 355,800 yuan is among a slew of adjustments Tesla has made to its <a href="https://www.wionews.com/business-economy/tesla-begins-deliveries-of-china-made-model-3-cars-270899">sales</a> policy in China, including tweaking prices for car accessories and home charging facilities.

Tesla has said it plans to start delivering cars, made at its $2 billion factory in Shanghai, to the public on January&nbsp;7.

Fifteen Tesla employees who had purchased the car were the first to take delivery on Monday after the first China-made vehicles rolled off the plant's production line in October. The deliveries come a year after construction of Tesla's only plant outside the United States began.

Earlier this week, Tesla said that 30 per cent&nbsp;of its <a href="https://www.wionews.com/business-economy/tesla-to-take-new-14-billion-loan-from-chinese-banks-for-shanghai-factory-sources-269723">China</a> supply chain was localized, which means some car parts are shipped in to build its cars. The automaker wants to completely localize its China supply chain by end-2020, it said at the time.

Tesla plans to ramp up Model 3 deliveries in January and will double the number of service centres and fast charging stations in China in 2020, its executives have said.

The plant has achieved a production target of 1,000 units per week, or around 280 cars a day, and that sales for the China-made sedan had so far been "very good", according to the executives.

US electric vehicle maker Tesla Inc cut the starting price for its China-made Model 3 sedans by 16 per cent to 299,050 yuan ($42,919) after receiving Chinese subsidies for electric vehicles, according to its China website.

US electric vehicle maker Tesla Inc cut the starting price for its China-made Model 3 sedans by 16 per cent to 299,050 yuan ($42,919) after receiving Chinese subsidies for electric vehicles, according to its China website. The reduction, partly thanks to 24,750 yuan of subsidies, from an earlier 355,800 yuan is among a slew of adjustments Tesla has made to its sales policy in China, including tweaking prices for car accessories and home charging facilities. Tesla has said it plans to start delivering cars, made at its $2 billion factory in Shanghai, to the public on January 7. Fifteen Tesla employees who had purchased the car were the first to take delivery on Monday after the first China-made vehicles rolled off the plant's production line in October. The deliveries come a year after construction of Tesla's only plant outside the United States began. Earlier this week, Tesla said that 30 per cent of its China supply chain was localized, which means some car parts are shipped in to build its cars. The automaker wants to completely localize its China supply chain by end-2020, it said at the time. Tesla plans to ramp up Model 3 deliveries in January and will double the number of service centres and fast charging stations in China in 2020, its executives have said. The plant has achieved a production target of 1,000 units per week, or around 280 cars a day, and that sales for the China-made sedan had so far been "very good", according to the executives.

Tesla reduced price for China made Tesla Model 3 before delivery

According to German newspaper Bild, <a href="https://www.wionews.com/world/tesla-boss-elon-musk-wins-defamation-trial-over-his-pedo-guy-tweet-266759">Tesla</a> is planning to build 500,000 electric vehicles a year at its new factory situated in the outskirts of Berlin.

Tesla's Chief Executive Elon Musk announced last month that a site in Gruenheide, Brandenburg, had been chosen to build Tesla Model 3 and Model Y vehicles.

Another German newspaper, Frankfurter Allgemeine Zeitung reported that <a href="https://www.wionews.com/business-economy/musk-suggests-tesla-has-200000-orders-for-cybertruck-264354">Tesla</a> will invest up to $4.41 billion in the plant.

The Gigafactory will generate 10,000 jobs. Reportedly, the site of the factory is as large as 420 soccer pitches.

The construction is slated to begin in 2020.&nbsp;

(With inputs from Reuters)

According to German newspaper Bild, Tesla is planning to build 500,000 electric vehicles a year at its new factory situated in the outskirts of Berlin. Tesla's Chief Executive Elon Musk announced last month that a site in Gruenheide, Brandenburg, had been chosen to build Tesla Model 3 and Model Y vehicles.

According to German newspaper Bild, Tesla is planning to build 500,000 electric vehicles a year at its new factory situated in the outskirts of Berlin. Tesla's Chief Executive Elon Musk announced last month that a site in Gruenheide, Brandenburg, had been chosen to build Tesla Model 3 and Model Y vehicles. Another German newspaper, Frankfurter Allgemeine Zeitung reported that Tesla will invest up to $4.41 billion in the plant. The Gigafactory will generate 10,000 jobs. Reportedly, the site of the factory is as large as 420 soccer pitches. The construction is slated to begin in 2020. (With inputs from Reuters)

Tesla's upcoming plant in Germany to produce 500,000 cars a year: Sources

Two- and three-wheeler manufacturer Bajaj Auto on Friday said that it sold 4.63 lakh vehicles in October, down 9 per cent in the year-ago period.

In October 2018, it had sold 5.06 lakh units, it said in a statement.

Domestic sales of motorcycles fell by 14 per cent to 2.42 lakh units from 2.81 lakh in October last year. But exports rose by 3 per cent to 1.56 lakh units from 1.51 lakh.

For the April to October period, motorcycle sales work out to 13.74 lakh units in the domestic market, down 12 per cent from 15.68 lakh units, and 10.9 lakh units in export markets, up 7 per cent from 10.2 lakh units year-on-year.

In commercial vehicles, domestic sales slipped by 5 per cent to 36,260 units last month from 38,360 in October last year.

Exports too fell by 21 per cent to 28,035 units from 35,354 units.

For the April to October period, domestic sales totalled 2.3 lakh units, down 6 per cent from 2.4 lakh units, while exports dropped by 21 per cent to 1.87 lakh units from 2.38 lakh units year-on-year.

Two- and three-wheeler manufacturer Bajaj Auto on Friday said that it sold 4.63 lakh vehicles in October, down 9 per cent in the year-ago period. In October 2018, it had sold 5.

Two- and three-wheeler manufacturer Bajaj Auto on Friday said that it sold 4.63 lakh vehicles in October, down 9 per cent in the year-ago period. In October 2018, it had sold 5.06 lakh units, it said in a statement. Domestic sales of motorcycles fell by 14 per cent to 2.42 lakh units from 2.81 lakh in October last year. But exports rose by 3 per cent to 1.56 lakh units from 1.51 lakh. For the April to October period, motorcycle sales work out to 13.74 lakh units in the domestic market, down 12 per cent from 15.68 lakh units, and 10.9 lakh units in export markets, up 7 per cent from 10.2 lakh units year-on-year. In commercial vehicles, domestic sales slipped by 5 per cent to 36,260 units last month from 38,360 in October last year. Exports too fell by 21 per cent to 28,035 units from 35,354 units. For the April to October period, domestic sales totalled 2.3 lakh units, down 6 per cent from 2.4 lakh units, while exports dropped by 21 per cent to 1.87 lakh units from 2.38 lakh units year-on-year.

Bajaj Auto reports 9% fall in vehicle sales during October

Maruti Suzuki India on Friday reported 4.5 per cent growth year-on-year in October sales led by compact and utility vehicle segments.

Driven by the festive season and heavy discounts, the company sold 1.53 lakh units during the month against 1.46 lakh units sold in the same month of last year.

The country`s largest car manufacturer said domestic sales in October grew by 4.5 per cent year-on-year to 1.44 lakh units from 1.38 lakh units and exports increased 5.7 per cent to 9,158 units from 8,666 units.

Passenger car sales were up by 4.4 per cent to 1.06 lakh units compared to 1.01 lakh units in October last year.

The compact car segment (new WagonR, Celerio, Ignis, Swift, Baleno and Dzire) clocked 15.9 per cent growth but mini segment (Alto, S-Presso and old WagonR) showed 13.1 per cent decline.

Utility vehicles sales (Gypsy, Ertiga, XL6, Vitara Brezza and S-Cross) grew by 11.3 per cent whereas vans (Omni and Eeco) sales fell by 26.8 per cent in October YoY.

For the April to October period, however, total sales were down by 20.3 per cent to 8.94 lakh units from 11.2 lakh in the year-ago period.

Domestic sales dipped by 21.4 per cent to 8.31 lakh units from 10.5 lakh units while export sales edged lower by 2.6 per cent to 63,069 units from 64,753 units year-on-year.

Maruti Suzuki India on Friday reported 4.5 per cent growth year-on-year in October sales led by compact and utility vehicle segments. Driven by the festive season and heavy discounts, the company sold 1.

Maruti Suzuki India on Friday reported 4.5 per cent growth year-on-year in October sales led by compact and utility vehicle segments. Driven by the festive season and heavy discounts, the company sold 1.53 lakh units during the month against 1.46 lakh units sold in the same month of last year. The country`s largest car manufacturer said domestic sales in October grew by 4.5 per cent year-on-year to 1.44 lakh units from 1.38 lakh units and exports increased 5.7 per cent to 9,158 units from 8,666 units. Passenger car sales were up by 4.4 per cent to 1.06 lakh units compared to 1.01 lakh units in October last year. The compact car segment (new WagonR, Celerio, Ignis, Swift, Baleno and Dzire) clocked 15.9 per cent growth but mini segment (Alto, S-Presso and old WagonR) showed 13.1 per cent decline. Utility vehicles sales (Gypsy, Ertiga, XL6, Vitara Brezza and S-Cross) grew by 11.3 per cent whereas vans (Omni and Eeco) sales fell by 26.8 per cent in October YoY. For the April to October period, however, total sales were down by 20.3 per cent to 8.94 lakh units from 11.2 lakh in the year-ago period. Domestic sales dipped by 21.4 per cent to 8.31 lakh units from 10.5 lakh units while export sales edged lower by 2.6 per cent to 63,069 units from 64,753 units year-on-year.

Maruti Suzuki October sales up by 4.5% to 1.53 lakh units amid festive season

According to data released by the Society of Indian Automobile Manufacturers, passenger vehicle sales in India dropped 17% in April, the worst monthly fall in almost eight years. High insurance costs, weak sentiment and a liquidity crunch have caused a dent in sales.

Passenger vehicle sales drop 17% in April – worst monthly fall in nearly eight years

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