Traditional luxury car brands BMW, Mercedes-Benz, and Audi (BBA) face increasing competition in China from domestic manufacturers like BYD, Huawei, Nio, and Li Auto, especially in the luxury segment (over 300,000 yuan). BBA's sales in China have declined in early 2024 due to fierce market price wars and competition from domestic new energy vehicles (NEVs), leading to severe financial and operational challenges for dealerships. BBA is enhancing local R&D efforts and adjusting strategies to combat competition, but Chinese brands are rapidly improving, challenging BBA's market dominance with innovative features and competitive pricing.

FAW and Nio join forces to charge up battery-swap network, Bain-backed Chinese EV services firm NewLink seeks private loan

Wuhan-based integrated circuit maker’s fundraising led by Sequoia Capital includes Neusoft, Bosch, SMIC and follows investment by FAW

AI chip specialist Horizon Robotics secures strategic investment; Cybersecurity watchdog probes China’s largest online academic library

Once a leader in helping China create its modern auto industry, the German auto giant is stumbling with its electric transition in the world’s most dynamic EV market

Workout app files for Hong Kong IPO, TikTok says it will throttle Ukraine war disinformation

Conflict could further disrupt global supply chains; commodity markets go on a wild ride; China ramps up aluminum output

Construction of the plant, which will be based in Jilin province’s capital of Changchun, is scheduled to begin in April and be completed by December 2024

China FAW Group, the maker of the luxury Hongqi model, opens first showroom as it aims to crack a market dominated by domestic brands like Toyota and Nissan

New funding from shareholders including the Nanjing government and FAW may break a three-month cash-crunch suspension and enable development to resume

U.S. Justice Department charges Chinese companies with economic espionage; Chinese PR giant buys U.S. peer Eleven Holdings; Tencent announces WeChat designed for cars

FAW Group gets backing from 16 banks under strategic partnership agreements as auto sales threaten to falter

FAW Huali may attract interest because it has permit to build new-energy vehicles

State-owned FAW Group is one of the major investors in financing round scheduled for completion by July

Move comes as German luxury carmaker faces stagnant growth in world's largest market

Auto giant buys 10% of leading shared-bike operator’s car unit

Known for chauffeuring Richard Nixon during his 1972 China trip, Hongqi aims to reinvent itself as new-energy brand

China’s oldest state-run car company looks to cut fat, increase competitiveness