Streetbeat News

GNZUF

Guangzhou Automobile Group

http://www.gagc.com.cn

Industry

Motor Vehicle Body Manufacturing

Open

0.38

Mkt cap

9.8B

Volume

3.8K

High

0.38

P/E Ratio

9.50

52-wk high

0.49

Low

0.38

Div yield

0.05

52-wk low

0.27

Chinese carmakers, including Xpeng and GAC, have downplayed fears of challenging European legacy manufacturers with cheaper EVs, emphasizing their long-term commitment to the European market. This comes amid EU tariffs on Chinese EVs and potential trade tensions.

Portfolio Pulse from Benzinga Neuro

October 15, 2024 | 1:17 am

BYD criticized the EU's proposed tariffs on Chinese-made EVs at the Paris Car Show, warning of increased costs and market impact. The tariffs aim to counter alleged unfair subsidies from China, but have sparked debate and concerns over trade tensions.

Portfolio Pulse from Benzinga Neuro

October 14, 2024 | 12:45 pm

The Biden administration has imposed steep tariffs on Chinese goods, including a 100% tax on Chinese-made electric vehicles, to boost U.S. manufacturing and jobs. This move is seen as a response to the growing competition from Chinese automakers and comes ahead of the November elections. Detroit automakers like General Motors and Ford are exploring Chinese technology to enhance their EV offerings, while Tesla's CEO has expressed concerns about the impact of Chinese EVs on the U.S. market.

Portfolio Pulse from Natan Ponieman

September 16, 2024 | 8:06 pm

Toyota Motor Corp (TM) has formed a joint venture with autonomous driving tech company, Pony.ai, and Guangzhou Automobile Group Co Ltd (GNZUF) to create a self-driving taxi business in China. The venture will be established this year with an investment of over 1 billion yuan (~$139 million). The companies plan to launch a Robotaxi vehicle based on Toyota's pure EV brand. In 2020, Toyota invested $400 million in Pony.ai to boost collaboration. Toyota's Q1 FY24 sales revenue was ¥10.5 trillion ($76.98 billion), higher than ¥8.5 trillion ($65.56 billion) a year ago.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 3:03 pm

Mitsubishi Motors Corp's joint venture with China-based Guangzhou Automobile Group Co., Ltd. is planning to cut staff costs due to sharp sales declines for sport utility vehicles. The number of employees affected has not been disclosed. The restructuring will follow Chinese laws and regulations.

Portfolio Pulse from Nabaparna Bhattacharya

July 13, 2023 | 12:46 pm

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