MONEY MASTER

From Mass Market Leader to Luxury Challenger BYD Co. , the world’s largest EV maker by volume, is taking bold steps to shed its image as a  utilitarian, mass-market brand . While its vehicles dominate China’s taxi and ride-hailing fleets — inspiring the quip that BYD stands for  “Be Your Driver”  — the Shenzhen-based automaker is now positioning itself in the  premium and ultra-luxury EV segment , with models priced over  US$200,000 . The latest push: a  RMB 5 billion (US$700m)  investment into  all-terrain automotive circuits , where consumers can test-drive both volume models and BYD’s  Yangwang luxury lineup  under extreme driving conditions. Experiential Selling – Track as a Showroom The first facility, opened in  Zhengzhou , allows the public to pay  599 yuan (~US$82)  for an hour of driving experiences ranging from slalom and emergency swerve drills to high-speed straights. Premium packages offer access to the  ...

Key Developments: Foxconn’s AI server plant in Jalisco  will be  completed within a year , despite  US tariffs on Mexico. US$900 million investment  will create the  world’s largest Nvidia-powered AI server assembly plant. Jalisco’s semiconductor industry is booming , with  new investments from ASE, Micron, and Foxconn. State government is fast-tracking permits and offering incentives  to accelerate the project. Mexican industrial sector remains strong  despite  Trump’s 25% tariff threat. Foxconn’s AI Expansion in Mexico Foxconn Technology Group (Hon Hai Precision Industry Co)  is pushing ahead with its  US$900 million  AI server  megaplant  in Jalisco, Mexico, despite potential  US trade tariffs , according to  Jalisco Governor Pablo Lemus Navarro . The  state-of-the-art facility  will be dedicated to  assembling AI servers powered by Nvidia's GB200 chips , making it the  largest such pl...

Vietnamese electric vehicle (EV) manufacturer VinFast reported a net loss of   US$550 million (RM2.45 billion)   for the third quarter, a significant improvement from the previous year, driven by   lower material costs and increased production. Key Highlights: Production and Deliveries: VinFast delivered  44,773 cars  in the first nine months of 2024, achieving more than  55% of its 80,000-vehicle annual target.  About  20% of these deliveries  were to related parties. Strong Q3 Momentum: The company posted  third-quarter deliveries of 21,912 vehicles , supported by robust domestic demand for mid-sized EVs. VinFast Chairwoman  Thuy Le  affirmed that  “momentum in Q3 has continued into Q4,”  and the company remains on track to meet its annual target. North American Expansion: VinFast reported  record-breaking operations in North America  in September, fueled by an  expanding dealer network.  However...

Chinese electric vehicle (EV) makers suffered a setback in Europe in July 2024, as new tariffs and a general slowdown in EV demand hit their sales. The introduction of tariffs on Chinese-made EVs, which took effect on July 5, has added pressure on automakers already grappling with reduced incentives in key markets like Germany. Key Takeaways: Impact of New Tariffs : Chinese automakers, including SAIC Motor Corp’s MG and BYD Co, saw their share of EV registrations in Europe drop to 9.9% in July 2024, down from 10.2% a year earlier. New tariffs have increased duties on Chinese-made EVs to as high as 48%, significantly impacting their competitiveness in the European market. SAIC’s MG brand experienced a 38% decrease in registrations compared to July 2023 and a 60% decline from June 2024 as it pushed more than 13,000 vehicles into dealerships ahead of the tariff deadline. Decline in EV Demand and Trade Tensions : The overall demand for EVs in Europe weakened following the removal of incent...