Legacy automakers scramble to counter 'existential threat' from nimble Chinese EV makers

seekingalpha09-15

Sparked largely by the sudden emergence of Tesla (TSLA), the major players in traditional automaking rushed to ramp up the production of electric vehicles, with visions of muscling startups out of the...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2467044028?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/2161769179/image_2161769179.jpg","is_english":true,"pubTime":"2024-09-15 06:03","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2467044028","market":"hk","top_or_hot":-1,"title":"Legacy automakers scramble to counter 'existential threat' from nimble Chinese EV makers","media":"seekingalpha","content":"<div>\n<p>Sparked largely by the sudden emergence of Tesla (TSLA), the major players in traditional automaking rushed to ramp up the production of electric vehicles, with visions of muscling startups out of the...</p>\n\n<a href=\"https://seekingalpha.com/news/4149804-legacy-automakers-scramble-to-counter-existential-threat-from-nimble-chinese-ev-makers\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Legacy automakers scramble to counter 'existential threat' from nimble Chinese EV makers</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLegacy automakers scramble to counter 'existential threat' from nimble Chinese EV makers\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-15 06:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4149804-legacy-automakers-scramble-to-counter-existential-threat-from-nimble-chinese-ev-makers><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Sparked largely by the sudden emergence of Tesla (TSLA), the major players in traditional automaking rushed to ramp up the production of electric vehicles, with visions of muscling startups out of the...</p>\n\n<a href=\"https://seekingalpha.com/news/4149804-legacy-automakers-scramble-to-counter-existential-threat-from-nimble-chinese-ev-makers\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1852331112.SGD","symbol_name":"Blackrock World Technology Fund A2 SGD-H","start_time":0,"source_url":"https://seekingalpha.com/news/4149804-legacy-automakers-scramble-to-counter-existential-threat-from-nimble-chinese-ev-makers","article_id":"2467044028","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/2161769179/image_2161769179.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2467044028","pubTimestamp":1726351439,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Sparked largely by the sudden emergence of Tesla (TSLA), the major players in traditional automaking rushed to ramp up the production of electric vehicles, with visions of muscling startups out of the","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","F":"福特汽车","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU1548497426.USD":"安联环球人工智能AT Acc","LU0052750758.USD":"富兰克林中国基金A Acc","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","BK4547":"WSB热门概念","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","GM":"通用汽车","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","BK4504":"桥水持仓","03160":"华夏日股对冲","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4526":"热门中概股","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","BK4548":"巴美列捷福持仓","TM":"丰田汽车","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","XIACF":"Xiaomi Corp.","LU0234570918.USD":"高盛全球核心股票组合Acc Close","XIACY":"小米集团ADR","ZK":"极氪","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","LI":"理想汽车","BK4532":"文艺复兴科技持仓","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","NIO":"蔚来","XPEV":"小鹏汽车","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","RIVN":"Rivian Automotive, Inc.","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0130518102.USD":"HARRIS ASSOCIATES GLOBAL EQUITY \"R\" INC","LU0072461881.USD":"BGF US BASIC VALUE \"A2\" ACC","HYMTF":"Hyundai Motor Co., Ltd.","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","09866":"蔚来-SW","BYDDF":"BYD Co., Ltd.","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4527":"明星科技股","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","VWAGY":"大众汽车ADR"},"translate_title":"传统汽车制造商争先恐后地应对来自灵活的中国电动汽车制造商的“生存威胁”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ZK":1,"HYMTF":1,"GM":1,"F":1,"BYDDF":1,"TM":1,"XIACF":1,"VWAGY":1,"NIO":0.9,"XIACY":0.9,"XPEV":0.9,"LI":0.9,"RIVN":0.6,"09866":0.6,"EVS.SI":0.6,"03160":0.6},"content_text":"Sparked largely by the sudden emergence of Tesla (TSLA), the major players in traditional automaking rushed to ramp up the production of electric vehicles, with visions of muscling startups out of the way and taking over the market for themselves. Now, faced with growing competition from nimble pure-play EV makers, especially in China, the legacy industry behemoths are scrambling to rethink their strategies. The latest sign of this dynamic came from a deep-dive published this weekend by the Wall Street Journal, detailing how Jim Farley, CEO of Ford (NYSE:F), has been forced to reassess his approach to the market. This comes as Chinese EV makers like Nio (NYSE:NIO), Li Auto (NASDAQ:LI), Xpeng (NYSE:XPEV), BYD (OTCPK:BYDDF), ZEEKR Intelligent (NYSE:ZK) and Xiaomi (OTCPK:XIACF) have been able to capture significant market share. Ford's Chinese competitors have taken advantage of low-cost labor and advanced technology to produce high-tech offerings that are also affordable. Meanwhile, these companies have taken an aggressive approach to international expansion, pushing into Europe and other global markets, thus presenting a long-term threat not only to Ford but to the large automakers generally, including names like GM (NYSE:GM), Toyota (NYSE:TM) and Hyundai (OTCPK:HYMTF).  The WSJ article quotes Farley as lamenting the \"light speed\" with which Chinese automakers established themselves. He also characterized them as an \"existential threat,\" with the profile highlighting the ways in which the Ford CEO is shifting priorities to focus on innovation and cost-efficiency. This is just the latest in a growing list of responses from legacy automakers that seem at least a little tinged by panic. Earlier this month, Volkswagen (OTCPK:VWAGY) said it was considering closing a large vehicle plant and a component factory due largely to competition from Chinese rivals. At the same time, the company announced that it was pouring billions into a joint venture with Rivian (RIVN). Meanwhile, legacy automakers have trimmed their targets for EV production. For Ford, this took the form of an adjustment to its EV plans, a change the firm announced last month. The altered plans included delaying production of a new plant to produce a next-generation all-electric pickup truck and canceling plans for a three-row electric SUV.  The changing landscape has raised red flags for some investors. Seeking Alpha analyst Doron Levin said the pullback in EV strategy represents a game that \"is still in the early innings, with more write-offs and expenses possible.\" Also noting that \"Ford's balance sheet is now materially weaker than it was a year ago,\" Levin warned: \"These trends combine to create a large question mark over the future of Ford's cash dividend, which was reinstated in 2021 after a two-year hiatus.\" More on Chinese EV makers  NIO: The ONVO Gamble Could Worsen Liquidity Crunch XPeng Stock Valuation Correlates Closely With NIO's Outlook Can NIO Maintain Its Momentum? Samsung, Xiaomi said to be implicated in India’s antitrust probe on Amazon, Walmart Ford confirms it wants to manufacture again in India for global export","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2467044028"}