Chinese automaker Chery is planning to enter the Canadian market next year and is actively evaluating the feasibility of building a local plant, according to Bloomberg. If the factory plan goes ahead, Chery would establish a production base near the US northern border. The company aims to have more than half of its export vehicles built at overseas factories by the end of this year, rising to 60 percent next year and 70 percent by 2030, executive vice president Zhang Guibing said at a recent event, according to Chinese outlet First Electric Vehicle (D1EV).
Volvo's loss and Audi's US bet
Volvo Cars reported a third-quarter operating loss of 5.6 billion Swedish kronor, swinging from a profit of 6.4 billion kronor a year earlier, with revenue down 22.6 percent to 66.9 billion kronor and an EBIT margin of minus 8.4 percent. The company also announced plans to cut about 2,500 jobs globally, roughly 6 percent of its workforce, with around 2,000 positions in Sweden, through ending consultant contracts, natural attrition and targeted severance packages.
Audi is stepping up its US presence with plans for its first vehicle assembly plant in the country. The German luxury brand will invest up to $4 billion in a new factory in Georgia, creating 4,500 jobs as part of a major North American expansion. Construction is set to begin next year, with an annual capacity of 200,000 vehicles.
BYD expands in Brazil and Malaysia
BYD is seeking approval to double the annual capacity of its Brazil plant to 600,000 vehicles as new stamping, welding and painting facilities near completion. The BYD Brazil unit also plans to reach 50 percent local parts sourcing by 2027. Separately, BYD is partnering with Gentari, a clean-energy subsidiary of Malaysia's Petronas, to develop fast-charging infrastructure in that country.
In other international moves, Volkswagen's union has warned of large-scale strikes from January if the company does not withdraw its notice to terminate labor agreements by the end of October. Jaguar Land Rover is recalling 93,997 vehicles in the US over a rearview camera display issue. Stellantis, Wayve, NVIDIA and the French government are collaborating on autonomous driving development in France, and Lyft's FreeNow and Baidu's Apollo Go showcased Baidu's RT6 robotaxi in London, aiming for commercial driverless operations there by 2027.
