After the coronavirus outbreak was brought under control in March, new-vehicle sales swung back – increasing 4.4 percent in April after a 42 percent slump in first quarter. By July, the market had racked up four straight monthly gains. Now, there are signs that the rebound may be about to end.

Geely, with an eye on western markets, plans to leverage Volvo further to engineer and design vehicles more quickly and cost-effectively, providing a technological springboard to gain scale and market share at a time when the auto industry is embracing an electric and autonomous future.

The EV startup's loss fell to 1.2 billion yuan ($173 million) for a fourth consecutive quarter, with rising demand for electric crossovers and new funds helping the cash-strapped company reverse its near-term fortunes.

China grew dramatically as a source of parts to feed North American vehicle production. But a shift is taking place in global supply chains.