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News on the Auto Industry in China

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Evergrande deal unravels
Oct 19, 2018 (WiC 428)

The creditworthiness of troubled tycoon Jia Yueting is running as thin as his depleting circle of friends. In 2016, when the carmaking unit of Jia’s media conglomerate LeEco was in dire need of funding, Xinhua reported that his business ...

In the driving seat

BMW to take control of Brilliance China
Oct 19, 2018 (WiC 428)

The opening up of China’s market to foreign investment has always been an intricate journey. Notably Brilliance China has played the role of trailblazer at critical junctures. In 1991 Yang Rong became the first private sector entrepreneur to ...

Sum of its parts

Geely’s suppliers go public with their complaints
Oct 5, 2018 (WiC 427)

The world’s second and third richest car billionaires have been experiencing very contrasting years. On one side is America’s Elon Musk, who ranks second on the Forbes rich list behind BMW’s Susanne Klatten. In recent months, he has ...

A tale of two markets

Suzuki excels in selling cars to Indians, but heads for the exit in China
Sep 14, 2018 (WiC 424)

Sales meetings at Suzuki’s headquarters in Japan deliver a contrasting tale. From India, the news is terrific: Suzuki is selling one in every two new cars in the market, with plans to launch 30 new models. But move onto China and the story is ...

Trade war with the US takes its toll, although exports hold up overall
Sep 7, 2018 (WiC 423)

One of the first victims of China’s trade spat with the United States was the crew of the Peak Pegasus, a cargo ship loaded with $20 million worth of American soybeans. The 229-metre bulk carrier was scheduled to unload its cargo at the ...

The great soccer scam

Buffett’s BYD and Arsenal football club are fooled by a fraudster
Jul 27, 2018 (WiC 419)

Most fans know the north London football club Arsenal as the Gunners but some supporters prefer the Gooners, a nickname said to derive from a group of hooligans that wreaked havoc in the 1980s. This second name seemed more appropriate this ...

Why a 1% stake in Volkswagen’s China JV offers Audi a new route
Jul 6, 2018 (WiC 416)

It’s an all too familiar tale and one that WiC has relayed many times over the years. A company’s long-standing boss is arrested and thrown in jail for suspected fraud, leaving his firm with crippling fines for its misdemeanours. But this ...

Primed for production?

Evergrande deal gives electric carmaker Faraday a new lease of life
Jul 6, 2018 (WiC 416)

I think we just became a real car company” was the message from Elon Musk last Sunday as Tesla finally hit its target of making 5,000 of its ‘mass market’ Model 3s in a week. He was celebrating in an email to staff after longstanding ...

Driven to a crisis

Didi Chuxing rocked by passenger’s murder
May 18, 2018 (WiC 409)

A wit on Twitter recently coined the phrase “Chabuduo-wellian” to describe artificial intelligence’s security usages in China (chabuduo means half-baked). The term was inspired by New York Times technology writer Paul Mozur’s ...

Betting on a comeback

Big names like Tencent and Evergrande prepared to take a punt on LeEco
Apr 27, 2018 (WiC 406)

If hard times reveal true friends, there is no better time to cement loyalties than when people run into financial trouble. It is well-documented that Tung Chee-hwa’s shipping line stayed afloat in the 1980s with timely support from the ...

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