Category: Business
BYD Tops Singapore’s Car Market in 2024, Surpassing Toyota as EV Sales Surge
BYD (Build Your Dreams) has become Singapore’s top-selling car brand, surpassing Toyota for the first time in 2024. The Chinese electric vehicle (EV) giant registered 6,191 cars, a 337% increase from 2023, when it sold 1,416 cars.
China and Indonesia Are Linking QR Payments, and It’s Bigger Than You Think
China and Indonesia are launching a partnership to connect their QR code payment systems, shaking up the way cross-border payments work. China’s UnionPay International and Indonesia’s Payment System Association (ASPI) have teamed up to bring their QR code payment ...
Most Asian Markets Rise After Trump AI Pledge but China Tariff Woes Return
Most Asian markets extended a global rally Wednesday as investors gave a cautious welcome to Donald Trump's first full day in office amid hopes he will take a more cautious approach on trade than initially feared. Software investment giant SoftBank soared ...
BYD Expands Dealership Network and Build $1 Billion EV Factory in Indonesia
BYD, the Chinese electric vehicle (EV) giant, announced plans to expand its dealership network from 35 locations in 20 cities to 80 outlets by the end of 2025. The expansion is seen as it looks to cement its position in ...
Asian Traders Give Mixed Reaction as China’s Economic Growth Slows
Asian markets were mixed Friday as data showing China's economy grew slightly quicker than expected last year failed to inspire investors, with Beijing battling to revive consumption and boost the battered property sector. The five percent expansion was in line with ...
China Meets 2024 Growth Target as Trade Tensions and Deflation Threaten 2025
China’s economy ended 2024 on a strong note, achieving its fastest quarterly growth in over a year. However, escalating trade tensions under the Trump presidency and the threat of deflation pose serious challenges to its 2025 growth outlook. Exports surged, and ...
Q&A: ‘Tariffs Could Kill Chinese Investments in EVs in Mexico’
By Alejandra Cuéllar Since his election victory in November, United States president-elect Donald Trump has repeatedly vowed to slap tariffs on the country’s top trade partners, pledging to make this one of his first acts upon taking office on 20 January.
Brazil’s Unions See Potential and Pressures From Chinese Carmakers
By André Duchiade The rapid expansion of the market for electric vehicles in Brazil, particularly Chinese cars, is transforming the country’s automotive industry and could have an impact on workers and production chains, say Brazilian trade unionists in the sector.
BYD Leads Indonesia’s Electric Vehicle Market in 2024, Challenging Wuling’s Overall Dominance
Chinese automakers transformed Indonesia’s electric vehicle (EV) landscape in 2024, with BYD emerging as the dominant force in battery electric vehicle (BEV) sales and challenging Wuling’s long-standing leadership across all vehicle categories. The fierce competition highlights the growing influence of ...
BYD Scrambles to Recover From Labor Abuse Controversy in Brazil
The Chinese automotive giant BYD is in full-scale damage control mode following revelations at the end of the year that some of the workers building the company's new factory in northern Brazil had endured "slavery"-like conditions. Initially, the company responded defensively, ...
Brazil Views Labor Violations at BYD Site as Human ‘Trafficking’
By Marc Burleigh Authorities in Brazil said Friday they were probing Chinese auto giant BYD and one of its contractors for suspected "trafficking" of Chinese workers who were building a factory in the South American country.
Move Over Mercedes: Chinese Cars Grab Mexican Market Share
By Yussel Gonzalez The growing popularity of Chinese sport utility vehicles and pickup trucks has shaken up Mexico's luxury car market, hitting sales of traditionally dominant brands such as Mercedes-Benz and BMW. According to industry ...