UK eases electric vehicle transition rules to counter US tariff impact
The UK government announced on the 6th local time that to help the domestic automobile manufacturing industry smoothly transition to electrification, it will relax the mandatory requirements for the proportion of electric vehicles sold by enterprises year by year. Although the goal of banning the sale of new fuel vehicles by 2030 will still be maintained, enterprises can flexibly adjust the proportion of electric vehicle sales between multiple years to avoid high fines. At the same time, UK Prime Minister Starmer promised to reduce non-compliant fines from £15,000 to £12,000 and invest £2.3 billion in tax relief for car purchases and the construction of charging facilities. Some small British manufacturers, such as Aston Martin and McLaren, will be allowed to continue producing fuel vehicles after 2030, and some hybrid models can also be sold until 2035. This move is seen as a response to President Trump's newly announced 25% auto import tariff.
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2025-10-31 15:18:11
Honda Reduces Production at Some North American Plants Due to Chip Shortage
Recently, Honda Motor Company has begun to cut back or suspend production at some of its North American factories due to a shortage of key chips caused by the Nexperia crisis. According to content posted by a union official from a Honda factory supplier on social media, Honda's plant in Canada, which produces compact Civic sedans and CR-V SUVs, has halved its output. Additionally, according to a report from Nikkei, Honda Motor suspended car production at its Mexican factory on October 28 local time, and it is not yet clear when production will resume. -
2025-10-31 15:15:55
US and South Korea Reach Trade Agreement to Lower Auto Tariffs
On October 29, the United States and South Korea reached an agreement on the specific terms of a trade deal. South Korea will invest $350 billion in the U.S. in exchange for the U.S. maintaining a comprehensive tariff rate of 15% on South Korea, including reducing tariffs on cars and auto parts to 15%; previously, the U.S. announced a 25% tariff on imported cars. In the semiconductor sector, South Korea stated that the agreed-upon tariff levels would not place South Korea at a disadvantage. -
2025-10-31 11:55:43
Byd: Net Profit Reaches 23.33 Billion Yuan in First Three Quarters
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2025-10-31 11:08:49
Baofeng Energy Sees Nearly Doubling of Net Profit in First Three Quarters of 2025
Baofeng Energy (600989.SH) disclosed its third-quarter report, showing that the company achieved an operating income of 35.545 billion yuan from January to September 2025, a year-on-year increase of 46.43%. The net profit attributable to the parent company was 8.950 billion yuan, a substantial year-on-year increase of 97.27%, and the net profit attributable to the parent company excluding non-recurring items also reached 8.972 billion yuan, a year-on-year increase of 82.85%. The single-quarter data was even more robust, with third-quarter operating income of 12.725 billion yuan, a year-on-year increase of 72.49%. The net profit attributable to the parent company was 3.232 billion yuan, skyrocketing 162.34% year-on-year, indicating a growth trend driven by a synergy of "volume and price differences." -
2025-10-30 17:46:10
Guangxi Petrochemical Ethylene Project Fully Completed and Commissioned
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