Jul 09, 2024 01:59 PM
BUSINESS
China Auto Roundup: Chinese Cars Dominate Israel’s Market, Huawei Sells Aito Trademarks
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Visitors could book a free trial ride in a driverless taxis at the World AI Conference in Shanghai on Sunday. Photo: VCG
Welcome to the Auto Roundup — a weekly briefing on the biggest headlines in China’s automotive industry covering electric vehicles, gas-powered cars, battery and autonomous technology, and more.
Chinese automakers dominate Israel’s market
Chinese brands topped Israel’s car sales in the first half of 2024, leading Korean and Japanese rivals across the market, while also supplying over two-thirds of the electric vehicles (EVs) sold, according to the state-run Xinhua News Agency.
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- Chinese automakers dominated Israel’s car market in H1 2024, selling 34,601 vehicles and accounting for 68.31% of EV sales.
- The EU imposed provisional tariffs on Chinese EVs, with negotiations ongoing to resolve the issue before finalizing in November.
- Huawei sold Aito brand’s trademarks and patents for 2.5 billion yuan to Seres Group, aiming to focus on smart driving technologies.
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Who’s Who
- BYD Co. Ltd.
- BYD Co. Ltd. is a leading Chinese automaker that topped Israel's EV market in the first half of 2024. It sold 10,178 vehicles across six models, contributing significantly to Chinese brands accounting for 68.31% of Israel's EV sales.
- Huawei Technologies Co. Ltd.
- Huawei Technologies Co. Ltd. is selling the trademarks and patents of its premium EV brand Aito to its partner Seres Group Co. Ltd. for 2.5 billion yuan ($343.7 million). Huawei aims to reduce its direct control over the Aito brand and focus on expanding its Harmony Intelligent Mobility Alliance, emphasizing its role as a supplier of smart driving technologies rather than an auto manufacturer.
- Seres Group Co. Ltd.
- Seres Group Co. Ltd. is a Chinese carmaker involved in the development of the premium EV brand Aito alongside Huawei Technologies Co. Ltd. The group is set to acquire 919 Aito-related trademarks and 44 design patents from Huawei for 2.5 billion yuan ($343.7 million), according to a stock exchange filing, indicating a shift in Huawei's role from auto manufacturer to a supplier of smart driving technologies.
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What Happened When
- January through June 2024：
- Chinese automakers sold 34,601 fossil-fuel powered and EVs in Israel.
- the first half of 2024：
- Chinese brands topped Israel’s car sales, leading Korean and Japanese rivals across the market, while also supplying over two-thirds of the electric vehicles (EVs) sold.
- June 2024：
- China’s dealers’ inventory alert index reached 62.3%.
- Thursday (Before November 2024)：
- The European Commission announced temporary anti-subsidy duties on three Chinese manufacturers.
- Thursday (Before November 2024)：
- He Yadong said China and the EU will expedite consultations over the tariff issue.
- Friday (Before November 2024)：
- The European Union began imposing provisional tariffs on EVs imported from China.
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