Latest news with #Zhejiang
Daily Mail
22 minutes ago
- Automotive
- Daily Mail
The next Chinese car giant to break the UK market this year
Another Chinese car maker that you've probably never heard of is bringing its first car to the UK – and it's an electric model. Geely Auto Group, the seventh-largest automaker in China, will debut its brand under its own name on our shores with the arrival of its EX5 SUV towards the end of the year. As Geely Group owns Volvo, Polestar and Lotus, it's no stranger to the British market, but this is the first time it will have its own Geely passenger cars on sale - and marks a significant move in the Chinese powerhouse's rapid global expansion plans. The Zhejiang-based firm says that 'the move begins Geely Auto's commitment to delivering a diverse range of high-quality, accessible vehicles tailored for the UK'. Geely is the latest in a line of Chinese brands that have recently started sales in the UK, including BYD, Omoda and Jaecoo and Xpeng. But for people left confused by the sheer amount of new Chinese cars being launched and how to tell Geely apart from the rest, then here's everything you need to know about Geely and the new EX5 SUV. From fridge parts to EVs... Founded in Taizhou City, in the Zhejiang Province of China, Geely started as a refrigerator parts manufacturer. That was 1986. It was 1997 when Geely joined the automotive sector, wanting to produce affordable cars for those on tight budgets. And in doing so it became China's first privately-owned auto manufacturer. In 2002, Geely entered into China's top 10 automakers, and by 2010 was in a position to acquire Volvo. Taking 100 per cent of the shares of Volvo Car Corporation from Ford, Geely started its Western expansion and quickly snapped up 51 per cent of Lotus in 2017, and 9.69 per cent of Daimler AG (Mercedes-Benz owner) in 2018. Thanks to these acquisitions Geely Auto was the first Chinese car brand to sell one million vehicles. In 2024, Geely achieved record-breaking sales of almost 2.2 million vehicles – a 34 per cent year-on-year increase. Sales outside China increased 21 per cent year-on-year, to almost 1.22 million units. And electrified sales grew over 52 per cent to almost 45 per cent of aggregate sales. What we know about EX5 The EX5 is an all-electric C-Segment SUV. In terms of dimensions, it's similar in size to a Nissan Qashqai. It will be sold with the choice of 49.5kWh or 60.2kWh battery. Customers can expect a range of 264 miles from the larger of the two batteries, and 30 to 80 per cent recharge in 20 minutes. It is said to accelerate from 0 to 62mph in 6.6 seconds and produces 215bhp from its single, front-mounted e-motor. Targeting the more affordable end of the market, the EX5 is a rival for the Skoda Elroq and Kia EV3. But it offers - as has become the broader tactic deployed by Chinese car brands - a lot of comfort and tech features for the price, including heated and ventilated massage seats, voice control and a 15.4-inch Tesla-style screen with 13.4-inch head-up display. With 410 litres of boot space and five seats that fold completely flat, the EX5 is a practical and cheap family buy. We don't know pricing yet, but it costs the equivalent of £19,500 in Australia ($40,990) so it's likely to cost between £25,000 and £30,000 here, undercutting the Skoda Elroq (£32k) and the Kia EV3 (around £33k). Geely hasn't confirmed UK specifications yet but has said EX5 will meet regulatory requirements for the UK and 88 other countries, and there are left-hand and right-hand drive versions already on roads across the global market. And Lotus Engineering has been used to assess the chassis and dynamics for the EX5 to tune it for European roads and customer driving styles, so it should drive well. Geely plans for the UK and the rest of the world Sales will start anytime from October to the end of the year (Q4). After that expect a multitude of models to arrive from 2026. Geely is focusing on 'strengthening market share in over 80 countries' which the Chinese maker will do by increasing exports; in 2024 Geely exports rose 53 per cent. Already Geely exceeded its annual export target of 380,000 units last year when it hit 414,552 units. It also promises to 'enhance its channel and aftersales coverage' by opening 300 overseas sales and service outlets. By the end of the year, it's expected to have more than 1,100 outlets worldwide – but the UK is 'one of the key regions for the marque's globalisations plans'.
South China Morning Post
9 hours ago
- Business
- South China Morning Post
Chinese sellers bracing as Amazon Prime Day sale could put weight of US tariffs on display
Ahead of Amazon's annual Prime Day sales event, Chinese sellers are already walking a tightrope as they try to strike a balance between staying competitive and adjusting to Washington's tariffs. Advertisement Gloria Gu, an Amazon seller based in Zhejiang province, said her outlook for this year's summer event – extended this year to a record four days, July 8-11 – was 'not optimistic'. Her company mainly sells household consumables – low-margin products that are highly price-sensitive. 'Depending on the item, prices have gone up by 10 to 20 per cent,' she said, while the minimum discount requirement for Prime Day deals on Amazon's platform is 20 per cent, the same as in previous years. 'We pass part of that on to consumers, but we also eat up some ourselves and ask our suppliers to share the burden,' she explained. But raising prices too much is not an option in Amazon's hyper-competitive environment, she added. 'The market is still extremely cutthroat; we really can't hike prices too much,' she said, noting that the platform's own fees were also climbing. Advertisement With a US tariff deadline approaching on July 9 – marking the end to President Donald Trump's 90-day pause on his 'reciprocal tariffs' for most countries, excluding China – and with Amazon kicking off one of its biggest sales events of the year just a day earlier, many price-sensitive American consumers are waiting to see if they will be the ones hit hardest, as inflation and overall cost-of-living concerns are front of mind.
Malay Mail
a day ago
- Business
- Malay Mail
China debuts first mixed-mode autonomous railway yard to boost logistics efficiency
The first train of the sea-rail intermodal service from Yiwu International Hub Port to Ningbo-Zhoushan Port has officially departed. The Suxi container handling station, the country's first railway terminal for automated driving in a mixed operation mode, has been opened for use. YIWU, CHINA - Media OutReach Newswire - 1 July 2025 - China has launched its first railway container terminal with mixed-mode autonomous driving capabilities, a move aimed at building an efficient, low-carbon, and intelligent modern comprehensive transportation system and reducing whole society logistics Suxi container handling station in Yiwu, east China's Zhejiang Province, began operations on June 27, with a freight train carrying 100 standard containers departing for the Ningbo-Zhoushan Port, the world's busiest cargo hub by tonnage, according to the Hangzhou Railway Logistics Center of the China Railway Shanghai Bureau part of the Yiwu (Suxi) International Hub Port, the terminal connects to the Ningbo-Jinhua Railway and has an annual design capacity of 660,000 twenty-foot equivalent units (TEUs). It features a rail loading zone, a container yard, a customs supervision area, and a digital management facility, approved as China's first railway yard autonomous driving experimental zone, integrates remote-controlled gantry cranes, automated storage systems, and intelligent transporters to enable unmanned operations alongside traditional workflows. This hybrid model marks a milestone in China's push to modernize logistics infrastructure, according to industry officials."This sets a new standard for autonomous operations in China's railway network," said Li Jinsong, deputy director of the Hangzhou Railway Logistics Center. "The mixed-mode design allows for seamless integration of automated and manual processes, enhancing efficiency while ensuring operational flexibility."Zhao Jianmin, general manager of Zhejiang Seaport Yiwu Hub Port Co., Ltd, highlighted the terminal's role in connecting inland Yiwu with the Ningbo-Zhoushan Port, enabling "one-time declaration, inspection, and release" for establishing a logistics corridor connecting the two regions, the terminal reduces transit times and costs, as cargo entering the Suxi station is treated as if it has arrived at the seaport, Zhao said. The issuer is solely responsible for the content of this announcement.
Globe and Mail
2 days ago
- Entertainment
- Globe and Mail
CCTV+: Overseas Showcase Series of quality Zhejiang-produced documentaries well received globally
BEIJING , /CNW/ -- To promote Chinese culture on the international stage and share the stories of Zhejiang and China in the new era, the "Picturesque Zhejiang • Global Vision" Overseas Showcase Series of Zhejiang -produced Quality Audio-Visual Works event, organized by the Zhejiang Provincial Department of Culture, Radio, TV and Tourism and hosted by Zhejiang Media Group's ZTV-World is now in full swing across the world. Following are the details. The event features a large selection of outstanding works, including "Tingatinga Artist in China ", "Entrepreneurship Along 'The Belt and Road', "The Foreign Entrepreneur in Dream Town ", "Octonauts", and " Royal Feast ". These programs are being broadcast in over a dozen countries and regions, including the United States , Australia , Austria , Portugal , the United Kingdom , the United Arab Emirates , Spain , Tanzania , South Korea , Saudi Arabia , Cambodia , Vietnam , and Thailand , as well as in China's Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan region, offering global audiences a spectacular audiovisual experience. This initiative was well received by global media outlets. Faraji, Producer Of Topstar Swahili Channel: "We look forward to deepening cooperation with Zhejiang to create more high-quality film and TV works. These works will enhance mutual understanding and friendship between audiences of the two places, while attracting international tourists to experience Zhejiang's charm. Let's join hands to tell more touching stories about Zhejiang through the lens." Representative of Iberia Universal: "Since the broadcast of these works, we have received positive feedback from Portuguese viewers. They noted that through these documentaries, they feel the emotional resonance between the peoples of China and Portugal , and expect to see a bright future for the relation between the two countries." Asma, Host at China-Arab TV in Dubai : " Zhejiang -produced audiovisual works serve as cultural ambassadors, showcasing the depth of Chinese civilization and Zhejiang's developmental achievements, thereby enhancing Arab viewers' understanding of China. " The "Picturesque Zhejiang • Global Vision" Overseas Showcase Series of Zhejiang -produced Quality Audio-Visual Works" event is not only a successful cultural exchange initiative but also a bridge connecting Zhejiang with the world. Moving forward, the Zhejiang Media Group's ZTV-world will continue to innovate in communication methods and strengthen international cooperation, bringing more high-quality productions that highlight Zhejiang's unique charm to global audiences.
Reuters
2 days ago
- Automotive
- Reuters
Car dealers in China's Yangtze delta region warn of 'severe challenges'
BEIJING, July 1 (Reuters) - Car dealers in one of China's richest regions are appealing to automakers to overhaul sales strategies amid mounting pressure on their cash flow and high inventories in another sign of the growing toll of the price war in the world's largest car market. Four dealer associations based in the Yangtze River Delta encompassing Shanghai city and the provinces of Jiangsu, Zhejiang and Anhui, issued a joint letter on their WeChat accounts on Monday, going public with the pressures they face. Most automakers sell their vehicles in China via dealerships, and the Delta region accounted for 23% of domestic car sales in 2024. "Car dealers in the Yangtze River Delta region face severe challenges such as high inventory, disorderly market competition and increased risk of capital chain rupture," said the letter that was addressed to "all automakers". "Some automakers have forced dealers to sell new cars at prices below cost," they added without naming any firms, saying such a strategy could violate China's competition laws. Dealer associations in the provinces of Henan and Jiangsu issued similar letters last week, while suppliers and dealers have both asked carmakers to pay them more promptly. The complaints indicate that Chinese automakers are continuing a years-long price war despite orders from regulators to stop as the strategy eats into the industry's profitability and financial health. The four dealer associations also said that inventories were above healthy levels. A gradual suspension in car loans in the region since June has compounded the problem leaving consumers who thought they had financing unable to pick up their cars, they added. The dealers made a number of suggestions, including that carmakers should allow them to suggest a reasonable inventory limit and adjust sales targets to better recognise the capacity of the regional market. China's legislature passed amendments to the anti-unfair competition law last week. The revised law strengthens rules against forced below-cost pricing and will come into effect in October.
