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geneva_show1.jpg
20 Oct 2021
The 2022 Geneva International Motor Show (GIMS), which was scheduled to be held between 19 and 27 February 2022 has been cancelled.

The 2022 Geneva International Motor Show (GIMS), which was scheduled to be held between 19 and 27 February 2022 has been cancelled. This is the third consecutive year that the renowned motor show has been called off.
The previous two events– 2020 & 2021 were cancelled due to the pandemic. However according to an official statement issued by the organizers of the event, GIMS has been cancelled not just due to the Coronavirus, but also due to the ongoing global semiconductor chip shortage. The event will now be held in 2023 as per the information given. According to Sandro Mesquita, the CEO of Geneva International Motor Show:
“Many exhibitors have indicated that the uncertainties caused by the pandemic make it impossible for them to make a firm commitment for GIMS 2022. On top of this is the negative impact that the current shortage of semiconductors has on car manufacturers. The chip crisis is likely to drag on well into next year, with negative financial implications for OEMs. In these uncertain times, many brands are therefore unable to make a commitment to participate in a trade fair that would have taken place in just over four months. When considering all the factors, it became clear that it was necessary to postpone the show, and to announce the news sooner than later to avoid cancelling at short notice.”
Held every year in Geneva, Switzerland, the GIMS is widely recognized as Europe’s most important automobile exhibition, and one of the most prestigious and influential in the world. Each show attracts over 10,000 journalists and more than 600,000 visitors to Geneva. The organizer and rights holder of GIMS is the Geneva-based foundation Comité permanent du Salon international de l’automobile. Maurice Turrettini, President of the Comité while commenting on the cancellation of the event, said:
“We have pushed very hard and tried everything to reactivate the Geneva International Motor Show in 2022. Despite all our efforts, we have to face the facts and the reality: the pandemic situation is not under control and presents itself as a big threat for a large indoor event like GIMS. But we see this decision as a postponement, rather than a cancellation. I am confident that the Geneva International Motor Show will come back stronger than ever in 2023.”


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XPeng_X2.jpg
19 Oct 2021
HT Aero, a flying car startup backed by Chinese electric vehicle maker Xpeng, said on Tuesday it has raised over $500 million in its latest funding round.

HT Aero, a flying car startup backed by Chinese electric vehicle maker Xpeng, said on Tuesday it has raised over $500 million in its latest funding round.

The startup, founded in 2013 and previously called Xpeng Heitech, raised the new money from IDG Capital, 5Y Capital, Xpeng and others in this funding round, it said in a statement.

HT Aero said it would use the funding to develop technologies and expand its workforce. It aims to deliver a flying car model, which will be able to drive on road, to customers in 2024.

HT Aero did not disclose its valuation after the funding round.
Companies from start-ups to global carmakers are racing to develop commercial flying "robo-taxis", hoping to cash in on a market Morgan Stanley says could be worth $1.5 trillion by 2040.

Other automakers that are developing flying cars in China include Geely's Terrafugia, which is building a factory in central city of Wuhan. Volkswagen AG is also studying the industry in China.

Regulators in China, however, have yet to detail rules on flying vehicles.


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19 Oct 2021
Chery has maintained its position as the highest vehicle exporter from China with 22,052 units exported in September, up 108.7% year on year.

Chery has maintained its position as the highest vehicle exporter from China with 22,052 units exported in September, up 108.7% year on year. For the fifth time this year, Chery exports have exceeded 20,000 units.
The cumulative exports from January to September 2021 were 187,910 units, which is 2.5 times more than the sales from same period of previous year. Not only setting a new record, Chery also continues to maintain its first position of passenger car export among all Chinese brands.
According to the sales figures, a total of 75,692 Chery cars were sold in September, up 10.3% year on year. Despite global semiconductor chip shortage, Chery has maintained its rapid growth rate in China’s auto industry. From January to September, it sold 651,289 vehicles, up 53.3% year on year.
Chery is among the very first & leading Chinese car exporter for over 20 years, and has become an excellent representative of Chinese brands in the global market. As per information, Chery adds an overseas user every 2 minutes on average. Up to now, Chery has accumulated 9.7 million users, including 1.87 million overseas users.
Source: carspiritpk


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