SHANGHAI (Reuters) – Germany’s Volkswagen AG said on Tuesday it plans to introduce 10 more electric vehicle (EV) models by 2026 and it remained committed to China, where established foreign brands are losing ground to nimble local rivals. “As VW, we remain firmly committed to China … Our guiding principle is development in China, for…
BEIJING (Reuters) – China’s economy grew at a faster than expected clip in the first quarter, official data showed on Tuesday, expanding 4.5% year-on-year, as policymakers move to bolster growth following the end of strict COVID-19 curbs in December. Analysts polled by Reuters had expected gross domestic product (GDP) to expand 4.0% from a year…
BEIJING (Reuters) – China’s industrial output rose 3.9% in March year-on-year, official data showed on Tuesday, accelerating from a 2.4% increase in the first two months but missing expectations slightly amid a post-COVID economic recovery. Retail sales rose 10.6%, beating forecasts for a 7.4% increase by a large margin. It was also faster than the…
SHANGHAI (Reuters) – Chinese electric vehicle makers should brace for the possibility of protectionist policies being leveled against them by foreign governments as they seize on their cost advantages to expand exports, the founder of Chinese EV maker Nio said. William Li told reporters on the sidelines of the Shanghai Autoshow that he estimated his…
SHANGHAI (Reuters) – Premium electric vehicle (EV) maker Polestar, founded by Volvo and Zhejiang Geely Holding Group, said on Tuesday it expects production of its Polestar 4 to begin later this year in Hangzhou Bay. Speaking at the Shanghai auto show, Chief Executive Officer Thomas Ingenlath also said pre-orders for the Polestar 4 would be…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Investors’ focus on Tuesday rests squarely on China: From an economic and market perspective, eyes are on a raft of data including first-quarter GDP; while the latest twist in souring U.S.-Sino relations will do little to ease geopolitical…
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks was slightly higher on Monday as investors digested another round of corporate earnings, while the dollar and U.S. Treasuries yields rose after economic data further cemented expectations of a rate hike from the Federal Reserve in May. After the first wave of bank…
By Hyonhee Shin SEOUL (Reuters) – South Korea, the United States and Japan staged joint naval missile defence exercises on Monday to improve responses to North Korean threats, as Pyongyang accused Washington of ramping up “nuclear blackmail” with military drills. The three nations agreed at talks in Washington on Friday to hold regular missile defence…
UNITED NATIONS (Reuters) -The United States and more than 40 other countries said in a joint statement on Monday that they were deeply concerned over Russia’s detainment of a Wall Street Journal reporter and protested Moscow’s “efforts to limit and intimidate the media.” They also said in the statement, read to reporters at the United…
By Andrew Osborn MOSCOW (Reuters) -Kremlin critic Vladimir Kara-Murza was jailed for 25 years by a Moscow court on Monday, the harshest sentence of its kind since Russia invaded Ukraine, after being convicted of treason and other offences in a trial he said was politically-motivated. Kara-Murza, 41, a father of three and an opposition politician…
