AUTOMOTIVE NEWS CHINA
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The reversal highlights the pressure on legacy brands in the world's largest auto market.
The unpredictability of China’s restrictions, especially as outbreaks reach record levels, means automakers from VW Group to Xpeng are once again facing significant supply-chain uncertainties.
Stellantis' factory capacity utilization in China is estimated to fall to 13 percent in 2022 from 43 percent in 2017, LMC says, while other mainstream automakers, including VW, GM, Ford, Mitsubishi and Hyundai, have also seen plant usage decline in the last five years.
Group of creditors asked Evergrande Chairman Hui Ka Yan to inject at least $2 billion of his personal wealth into Evergrande as a condition for agreeing with any proposals from the company, Bloomberg reported.
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