Detail

On April 28, the State Council Information Office held a press conference where Vice Chairman Zhao Chenxin of the National Development and Reform Commission and others introduced policies for stable employment and economic development. Zhao announced the establishment of a childcare subsidy system, creation of special relending tools, support for service consumption and elderly care industries, and implementation of a consumption boost action plan, including targeted increase of vehicle quotas for key groups in cities with purchase restrictions.

In Q1 2025, new EU car registrations declined by 1.9% year-on-year, with a slight 0.2% drop in March 2025. Battery-electric vehicle (BEV) sales grew by 23.9%, capturing 15.2% of the market share. Hybrid-electric vehicles (HEVs) increased by 20.7%, accounting for 35.5% of the market. Traditional fuel vehicles saw a decline, with gasoline car registrations down 20.6% and diesel cars down 27.1%, resulting in market shares of 28.7% and 9.5% respectively.

The European Union has revised its additional tariffs on electric vehicles manufactured in China, with brands such as Tesla experiencing a decrease in rates. Tesla's tariff rate has been reduced from 20.8% to 7.8%, and Geely's rate has also seen a reduction. This adjustment could influence the competitiveness of Chinese electric vehicles in the European market. China has welcomed the EU's decision and expressed its willingness to resolve trade disputes through dialogue and consultation.

Volkswagen’s ninth - generation Golf, expected in 2028 or 2029, will be an all - electric model named ID.Golf, produced at the Wolfsburg plant in Germany. The combustion - engine Golf will be manufactured in Mexico and upgraded from the Mk8.5 generation for continued sales. The ID.Golf will be based on the SSP electric platform, combining elements of MEB and PPE platforms, offering various sizes and power options, with GTI and R high - performance versions. It will retain classic Golf design elements while balancing innovation. The car will use a software architecture co - developed with Rivian, supporting flexible OTA updates and retaining physical buttons for key functions. Before the ID.Golf, Volkswagen will launch the ID.2X (2025), ID.2all (2026), and ID.Every1 (2027).

Toyota has unveiled the updated Corolla Cross, a compact SUV. The standard version features new Through type light strip headlights, a honeycomb grille, and a blacked - out lower bumper, along with 18 - inch wheels and new LED taillights. The GR Sport version adds a blacked - out grille, 19 - inch sport wheels, a 10 - mm lower suspension, and exclusive sport driving modes, with GR badges on the exterior, interior, and seats. The interior retains the current design with minor adjustments, including a smartphone storage area and a sliding storage box.

Taiwanese electronics giant Foxconn has signed a memorandum of understanding (MOU) with Mitsubishi Motors to advance discussions towards a definitive agreement. Under the deal, Foxtron will develop an EV model (likely the Model B small crossover) for Mitsubishi, to be manufactured by Yulon Motor in Taiwan and launched in Australia and New Zealand in the second half of 2026. Foxconn has been seeking partnerships with Japanese carmakers to expand its EV business but has clarified that it will only act as a contract manufacturer and will not market its cars under its own brand. Since 2023, Foxconn has been producing EVs with Yulon Group and has commercialised the Model C crossover as the n7 under the Luxgen brand.