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Foreign auto groups partner with Chinese tech for EV market

Financial Times — April 29, 2024, 04:00 AM UTC

Summary: Foreign carmakers like Toyota and Nissan are partnering with Chinese tech giants like Tencent and Baidu to incorporate advanced technologies in their vehicles to compete in China's electric vehicle market. Multinationals are realizing the need to catch up with Chinese carmakers prioritizing EVs. China's focus on technology, including autonomous driving, is driving the industry forward. China produced 6.7mn vehicles in Q1 2024, with EV sales up 32%.

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Timeline:

  1. [4.4]
    Carmakers need tech edge in China's EV market (Financial Times)
    20d
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  2. [5.0]
    China EV price war escalates, market share over profit (South China Morning Post)
    21d
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  3. [5.2]
    Nio and Xpeng introduce lower-priced electric cars in China (CNBC)
    23d
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  4. [4.7]
    BYD competes with Tesla in EV market dominance (Financial Times)
    24d
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