electric vehicle News Updates

The move positions Geely to be the first Chinese mass-market electric vehicle maker to establish a presence in the North American market.

The U.S. joined 14 other economies in pledging to confront excess manufacturing capacity and production in certain sectors.

The Saudi Arabia-backed company said Oct. 5 that it assembled 2,954 EVs in the third quarter, down about 24% year over year and a 38% reduction from the previous three-month period.

The automaker delivered 486,532 vehicles worldwide in the third quarter. That compared with 463,761 expected on average in analyst estimates compiled by Bloomberg.

The company likely delivered around 463,761 vehicles worldwide in the last three months, according to analysts’ estimates compiled by Bloomberg, down about 7% from a year earlier.

The long-range battery shortage points to the need for automakers such as Stellantis to adjust production plans amid a spike in EV demand caused by the war on Iran.

“When fuel prices rise, the issue of running costs becomes super concrete for customers,” said Xavier Chardon, head of Citroën. “Getting an EV no longer is a technology choice, it becomes an economic one.”

On Sept. 23, Geely Auto unveiled technology that can charge an electric vehicle battery from 10% to 70% in just 4.5 minutes, a leap analysts called a significant development for the Chinese auto group.

The new model will gauge the high-end market for a large electric vehicle amid uneven demand for battery-powered cars.

Under the deal, Nissan and Honda will share standardized parts in “core ECUs,” or electronic control units, as well as software.