Chinese automotive conglomerate; Hangzhou-based, expanding globally through EVs and JV ventures.
Slate Auto has unveiled a bare‑bones two‑seat electric pickup with a $24,950 base price and a two‑row SUV conversion starting at $29,950. The company has raised the base EPA range estimate to about 205 miles, is taking preorders with a $300 deposit, and plans production to begin in late 2026 with direct online sales.
EU trade chiefs push to rebalance trade with China as talks with Beijing seek tangible results by autumn. Europe faces a €360 billion deficit as climate, industry and tech sectors depend on China, even as leaders vow to defend strategic industries.
Major automakers have pulled several electric models and cancelled projects after federal tax credits ended in 2025, while Q2 2026 US EV sales have recovered sequentially to about 247,226 units. Higher fuel prices, state rebates and low‑cost entrants such as Slate, Fiat Topolino and Chinese brands in Europe are reshaping supply, pricing and consumer demand.
China has topped 1 million monthly car exports for the first time, with overall trade up 27%. While brands like BYD gain share overseas, EU imports face pressure from Chinese EVs. Germany’s VW group signals big structural shifts at home as it faces competition and potential plant adjustments.
The US is weighing a response to Chinese open-weight AI models amid concerns of distillation and IP theft as Moonshot AI’s Kimi K3 shows strong benchmarks. Officials have signaled possible actions while Silicon Valley presses for open access to models to sustain competition.
A bipartisan Senate bill would bar the sale of connected vehicles by automakers that are more than 15% owned by Chinese entities, potentially affecting Mercedes-Benz, which has substantial Chinese ownership. The proposal has emerged in an ongoing policy debate about national security and supply-chain resilience.
Ford and Geely have unveiled a two-thirds/one-third joint venture to build five vehicles at Ford’s Valencia plant in Spain, starting 2028. The deal seeks to reassert Ford’s presence in Europe amid rising Chinese competition, cost pressures, and tightening regulations. Production of the Kuga PHEV will continue; two Geely electric SUVs will be built; a new multi-energy crossover is planned for 2028. The move signals broader global partnerships as U.S. policy tightens access for Chinese firms.
Moonshot has released Kimi K3, an open-weight model that independent tests say matches frontier performance and has prompted investor selling in chip stocks. Tech figures and regulators are trading accusations about distillation and national security, while industry voices argue the alarm is exaggerated.
The US has imposed new 10%–12.5% tariffs on imports from 60 trading partners, saying they have not effectively enforced bans on goods produced with forced labour. The levies replace expiring temporary duties and include product exemptions, while trading partners from Brazil to Australia have criticised the move and markets have reacted with caution.
A wave of Chinese automakers is expanding into Europe and the UK, challenging traditional premium brands. Zeekr, BYD and others are pursuing UK launches while major players like Geely, Volvo and Lucid push into premium segments. European and US automakers are restructuring to cope with China’s rising export power and shifting supply chains.
Ford has announced the Fathom, a sub-$30,000 electric pickup built on a new Universal EV Platform. Prototypes will start in early 2027 with deliveries later that year, as Ford pushes a cost-focused, vertically integrated approach to catch up with Chinese competitors and Tesla.
Waymo has expanded its Ojai robotaxi rollout, adding more U.S. markets and plans to accelerate fleet growth. The company is integrating its sixth‑generation self‑driving system with Zeekr’s Ojai platform, aiming to reduce cost and improve safety as deployments accelerate globally.
Ferrari’s first fully electric Luce has sold at Sotheby’s Monterey for $40 million, a record for a new car at auction. Proceeds go to the Ferrari Foundation’s educational programs. The sale follows mixed reception to the EV’s design and Ferrari’s push into electrification.
Chinese regulators have announced recalls affecting more than four million vehicles, largely driven by safety concerns over hidden, electronically operated door handles. Tesla has accounted for about 2.98 million cars; Xiaomi, Leapmotor, Xpeng and Geely are also recalling vehicles. Automakers will add warning labels and push software updates to improve emergency egress and driver monitoring.
Several manufacturers have launched or previewed new electric and hybrid models this month. Skoda has introduced the compact Epiq from £24,950; Mercedes has unveiled a seven-seat electric GLB with an 85kWh battery and up to 379 miles claimed range; Bentley has previewed the Torcal EV and a lighter Supersports coupe; Rivian has launched the smaller R2 SUV; Suzuki, Volvo, Leapmotor, Aion and Honda have released updated or new models aimed at family and city buyers.
Transportation Secretary Sean Duffy has raised national-security concerns about Ford’s ties to Chinese battery tech and plans with Geely in Spain, prompting political and regulatory scrutiny. Ford defends its approach, while lawmakers press for clarity on independence from Chinese tech.
Volkswagen has agreed to sell its Osnabrück factory to Aurelius Capital and the state of Lower Saxony and has announced an initial partnership with Rafael Advanced Defence Systems to produce air‑defence components from mid‑2027. The deal will secure at least 1,200 jobs and forms part of VW's broader Future Plan 2030 restructuring and 100,000 job reductions.
Enflame Technology has surged on its Shanghai STAR Market debut after raising 6.12 billion yuan, with Tencent backing. The IPO signals rising investor appetite for China's AI chipmakers as the country pursues semiconductor self-sufficiency amid U.S. export restrictions. Revenue rose in 2025 but losses narrowed; the company plans further chip development and expects to break even in 2026-2027.