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With Dyson on board, Singapore pitches hi-tech credentials to woo other electric car makers to set up shop

Following Dyson’s plans late last year to manufacture its first electric car in Singapore, the city state is now in talks with other makers of green vehicles to set up shop on the island.Singapore is pitching its connectivity to global markets through free-trade agreements, its highly skilled workforce and stringent protection of intellectual property, which is critical for the industry, according to the government agency set up to attract investments to the country.“Hopefully they won’t be the… Source link

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China 

What kind of stimulus do China’s half-idle car assemblies need to restart stalled sales in the world’s largest vehicle market?

Word got around last week – while the Auto Shanghai 2019 trade show was in full swing – that China’s economic planning agency was mulling an easier process for drivers to obtain licences in the world’s largest vehicle market.The speculation sent the share prices of carmakers soaring, on hopes that the liberalised procedure would spur drivers to become owners, help clear out showrooms and stem nine consecutive months of declining sales. At least three automotive stocks jumped by their 10 per… Source link

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Money 

Congestion or consumption? Beijing ponders trade-off on car purchase incentives to boost Chinese economy

A debate over whether the Chinese government should extend financial incentives for car purchases to increase consumption and economic growth is heating up.It started as sales in the world’s largest automobile market fell for the tenth month in a row in March. This created problems for domestic and foreign carmakers and hindered Beijing’s efforts to create a “powerful home market” that would offset the impact of China’s trade war with the US and slowing demand for Chinese exports.As China’s… Source link

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Vietnam 

Malaysian firms explore investment in VN’s car manufacturing industry – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A view of a VInFast plant, expected to go operational in June. — Photo vneconomy.vn HÀ NỘI — Fifteen Malaysian firms are visiting Việt Nam to explore investment opportunities in the country’s car manufacturing industry. Malaysian Ambassador to Việt Nam Dato Mohd Zamruni Khalid said at a workshop held on Thursday to discuss business opportunities between Việt Nam and Malaysia in the automobile component industry that Việt Nam was an attractive market for car manufacturing given its young population and favourable investment policies. He said Malaysian firms expected to co-operate with partners in…

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China’s electric car makers face ‘critical’ maturity period over the next two years, KPMG says

The next two years will be “critical” for China’s new energy vehicle (EV) makers as the industry matures and Beijing slashes subsidies that have encouraged consumers to adopt the technology, a KPMG executive said on Wednesday.Philip Ng, head of technology at KPMG China, said that consolidation is likely in the industry in the next 18 months to two years, particularly as EV makers face tighter capital markets and challenges to build consumer trust in the world’s largest car market.“All of those … Source link

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China 

Chinese and US companies fear Donald Trump’s trade war on the car industry

This story is part of an ongoing series on US-China relations produced jointly by the South China Morning Post and POLITICO, with reporting from Asia and the United States.Jack Sun’s company does not sell directly to the United States but if US President Donald Trump decides to slap tariffs on the global car industry, suppliers such as Sun’s machinery firm would be right in the line of fire.Qingdao Ray Machinery and Technology, a 30-person operation based in northeast China, exports moulds and… Source link

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Singapore 

Driver arrested after car crashes through bollard, injuring 4 at Marina Bay Financial Centre, Singapore News

SINGAPORE – Four people were injured on Monday evening (April 15) after a car crashed into a metal bollard along a pavement at the Marina Bay Financial Centre (MBFC). The car’s driver, a 25-year-old man, has been arrested for causing grievous hurt by negligent act. Police said they were alerted to the accident at the junction of Central Boulevard and Marina Way at 6.08pm. Three female pedestrians and a male car passenger, aged between 35 and 46, were conscious when taken to Singapore General Hospital. Photo: Lianhe Zaobao The Singapore…

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Singapore 

COE renewal after 10 years – Car owners, should you even bother?, Singapore News

Singapore is probably the only country in the world where cars are so expensive that owning a Toyota Altis can be considered a luxury. If that wasn’t bad enough, your car will be de-registered after 10 years unless you pay for COE renewal. Even cats and dogs live longer than cars in Singapore! But, there’s no use complaining. This is the law in Singapore and there’s no loophole to get around it. So what are your options once your car has been around for 10 years? Here are 3 things…

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Singapore 

Thief who stole car with $23.5k worth of valuables from East Coast Park nabbed three days later in Geylang, Singapore News

SINGAPORE – A car containing valuables worth about $23,500 was stolen from an East Coast Park carpark on Sunday evening (April 7). The 31-year-old alleged thief was arrested three days later in Lorong 8 Geylang by officers from Bedok Police Division. Police said on Thursday that they had first received a report at about 6.55pm that a car parked at an East Coast Park carpark had been stolen. There were several bags and valuables worth up to $23,500 inside it. While the vehicle was later found at another carpark at…

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Singapore 

Two men arrested for drug offences after brief car chase in Queenstown, Singapore News

SINGAPORE – Two men were arrested after brief car chase in Queenstown on Wednesday (April 10). The driver, a 21-year-old man, was arrested for traffic-related offences, possession of offensive weapons, and suspected drug-related offences, said the police. The passenger, a 19-year-old man, was arrested for suspected drug-related offences. The police said that at 11.15am, traffic police officers were conducting a check on a car along Mei Ling Street when the driver suddenly sped off and subsequently hit a motorcycle. Traffic police officers were conducting a check on a car along…

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