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• Special Report-China floods world with gasoline cars that it cannot sell at home

  In just a few short years, China's electric vehicle industry has captured more than half of its domestic market. This has led to a decline in sales for gasoline-powered cars from the once dominant global automakers. Foreign players were not the only losers. Chinese automakers who had been in business for decades also saw their sales plummet and responded by flooding foreign markets with fossil fuel vehicles that they couldn't sell domestically. While Western policymakers focused on the threat posed by China's heavily subsidized EVs and protected their markets with tariffs; U.S., European, and South African automakers are facing greater competition from China’s gas-guzzlers from Poland to South Africa, to Uruguay. According to Automobility, China's consultancy, fossil-fuel vehicles account for 76% (or more) of Chinese auto exports. Total annual shipments have increased from 1 million in 2020 to over 6.5 million likely this year. A recent examination revealed that the boom in gasoline exports was driven by the same EV policies and subsidies that destroyed the China businesses for automakers such as Volkswagen, GM, and Nissan. These policies and subsidies underwrote scores of Chinese EV manufacturers and ignited a price war. This phenomenon highlights the impact of Chinese industrial policies, as foreign companies struggle to compete with state-backed firms that are chasing Beijing's goal to dominate key sectors in China and internationally. Industry and government data indicate that China's gasoline vehicle exports last year - without including EVs or plug-in hybrids – were enough to make the nation the largest auto-exporting country by volume. This report on the global expansion of Chinese automakers is based upon a review and analysis of auto sales data from dozens of countries, as well as interviews with over 30 people. These included executives of 11 Chinese and 2 Western automakers, distributor managers for Chinese brands, and industry researchers. The Chinese gasoline car influx into emerging and secondary markets is a clash between Beijing's current push for electric vehicles and earlier policies that helped build China's domestic gas-vehicle sector by leveraging the technology of foreign automakers. State-owned giants SAIC, BAIC and Dongfeng, among others, are the largest exporters. They have historically depended on joint ventures to gain engineering expertise and profits from foreign automakers. In the 1980s, Beijing forced these partnerships as a price for foreign companies to enter China. These joint ventures have seen their sales plummet in recent years, as innovative Chinese EV manufacturers, led by BYD, have risen to prominence. SAIC data shows that SAIC-GM China's annual sales fell from more 1.4 million cars to 435,000 vehicles between 2020 and 2024. These state-owned automakers are now racking up sales on export markets that used to be the sole domain of foreign automakers, who are also their partners in China. SAIC exports, mainly of its own brands and without GM, soared to over a million dollars last year from just under 400,000 in 2020. Jelte Vernooij is Dongfeng Central Europe's manager. He said that Dongfeng exported nearly 250,000 cars last year. This was an increase of almost four times in just five years. Dongfeng has seen its annual global sales fall by one million vehicles, from 2020 to less than two million. This is according to company filings. Vernooij, however, is not worried about Dongfeng’s future because Beijing has backed it. He said that the fact that we are state-owned was important. "There is no doubt that we will survive." It's also a fact that gasoline cars sell better than EVs in markets with limited charging infrastructure, like those of Eastern Europe, Latin America, and Africa. Beijing aims for EVs and hybrids to be dominant in the world. In the meantime, Chinese automakers build overseas brands by offering customers what they want. Chery is China's largest auto exporter. Between 2020 and 2024, its global sales soared from 730,000 to 2.6 millions vehicles. Chery - which is owned by both the state and the private sector - has increased its annual exports in the past five years by about one million units. Its sales are mainly gasoline powered vehicles, accounting for four-fifths. Five other state-owned carmakers, as well as two private automakers, Geely Motor and Great Wall Motor are also among China's top ten exporters. They sell more gasoline cars than electric vehicles. Two of China's top ten auto exporters are exclusively focused on battery-powered cars. Tesla, the pioneer of electric cars in the United States, is one of them. BYD is the other, and it only sells EVs or plug-in hybrids. BYD has become China's second largest exporter this year, and the country's exports are now dominated by plug-in hybrids. China's gasoline vehicle exports will still exceed 4.3 millions and make up nearly two thirds of the total for this year. Exports are essential for the growth and profitability of Chinese automakers, according to overseas managers from Chery, Dongfeng, and FAW. Giles Taylor is the global vice president of design at FAW. He believes that some rivals in China are just one product away from bankruptcy. He said, "China is overpopulated with auto companies." It's on the verge of a dog-eats-dog situation. Managers said that most brands focus on exporting gasoline cars, because it's easier to sell them in many regions. Nic Thomas, Changan’s European Marketing Director said: "We can fine tune our offering for each market." The National Development and Reform Commission and other top exporters SAIC and BAIC as well as Geely and Great Wall Motor, and the government economic planner did not provide any comments for this report. Executives from global automakers have acknowledged that China's rising rivals are a serious threat to their business, but mainly in relation to the innovative and affordable EVs they produce rather than gasoline-powered models. Toyota, Ford Nissan and Hyundai representatives did not make any comments on China's export boom. Some of the old-timers say they are ready to fight. Alexander Seitz said that he has "no fears of the Chinese." He said, "I respect them for being competitors." "They are welcome to join us." Volkswagen wants to export more cars made in China overseas to counter the competition from China. A GM spokesperson referred to comments made by CEO Mary Barra in October, that the company aims "to compete with Chinese competitors" with the "right technology at the right price." IDLE FACTORIES FUEL SURGE The government's policies have created an excess of factory capacity for building them, which has led to the rush by Chinese automakers to export gasoline vehicles. Bill Russo, CEO of Automobility, says that China's rapid EV expansion has idled assembly plants capable of producing 20 million gasoline powered cars per year. These unproductive overheads increase costs and force automakers to use capacity for exports. Russo stated that "that excess capacity is being directed back to the rest of world". AlixPartners, a consultancy, predicts that Chinese automakers will increase their annual sales outside China by 4,000,000 vehicles by 2030. This will result in them gaining large market share in South America and the Middle East. They also expect to gain significant market shares throughout Africa, Southeast Asia, South America and the Middle East. Chinese automakers will control 30% of global auto sales in five years, including expected growth in China - the world's biggest car market. Stephen Dyer is the joint head of AlixPartners China. Beijing's policies encouraged automakers over the past decade to build new electric vehicle plants instead of converting existing gasoline-vehicle facilities. Reports claim that local governments subsidized the boom in factory construction as they competed with each other to attract EV manufacturers, all for Beijing's economic purposes. Cities and provinces that wanted to show development financed automakers' EV factories at a low cost. Local governments prepare the land, build the factories and allow companies to "move in" with only a suitcase. Liang Linhe is the chairman of Sany Heavy Trucks, one of China's biggest truck manufacturers. The result is massive overcapacity. Su Bo, China’s former vice-minister of industry, urged the regulators at a March EV Conference to encourage the conversion of gasoline car factories into battery-powered models. Su Bo, China's former vice minister of industry, urged regulators to promote the conversion of gasoline-car factories into battery-powered models at a March EV conference. He said that the declining gasoline car sales are "leaving significant capacity underutilized" and "plummeting the sector into an essential survival crisis." The real battle in autos: Emerging markets While EV startups were building factories in China, the legacy Chinese automakers searched for new markets for gasoline cars to maintain their underutilized plants. In Warsaw, Poland on a sunny September day, new SUVs bearing chrome "BEIJING' logos lined up the Plaza dealership. These SUVs were powered by gasoline engines made by BAIC, an automaker owned and operated by the Beijing city government. BAIC is one of 33 Chinese brands to have announced or launched Poland sales, with many selling exclusively or primarily gasoline-powered cars, according to company announcements. GlobalData's sales figures also show that BAIC was among the first Chinese brands in Poland. Jerzy Przadka is BAIC's Poland Manager. He said that there are so few Chinese midsized SUVs with distinguishable features, and many of them look alike, that Poles cannot tell the difference. Marcin Slomkowski is the country manager of GAC and Geely at Jameel Motors. He called the new Chinese competitors that have entered Poland a "simple madness" and said local market expertise would be the "key to survival." Inchcape is a global distributor of autos. Most of the contracts it has signed recently are with Chinese automakers who have entered emerging markets. Older manufacturers are also joining the global market, as they struggle to meet Beijing's EV development mandates and maintain gasoline-car profit margins. Exports must be tailored to the market, which is usually gasoline cars in emerging economies. Tait stated that "the model you use with China will not necessarily work in Costa Rica or Peru, Indonesia, Greece, or Indonesia." You have to accept the world for what it is and not as you would like it to be. Even in more developed economies, Chinese brands are still a major player when it comes to fossil fuel vehicles. Chery sold almost all its cars in Australia with gasoline engines. Only recently has the company begun to offer plug-in hybrid models. The pragmatism of China's automakers in the engine field created new fronts for their battle to gain market share with foreign competitors. Many automakers have historically concentrated their marketing and engineering efforts on the biggest or wealthiest markets, such as the United States, Europe and China. In the developing world they focused on cheaper cars with older technology. This has left companies like Stellantis, GM, and VW vulnerable to a flood of cheap Chinese imports with better software and safety features, according to Felipe Munoz of JATO Dynamics, a research firm. "Legacy automobile manufacturers were sleeping." "Now they are paying for it," said he. "The real fight between Chinese automakers and legacy carmakers does not take place in Europe. It is not taking place in the United States. "It's happening in emerging market countries." At a September investor's event, Antonio Filosa (CEO of Stellantis) was asked how the company would react to Chinese competitors. He said that Stellantis, which has a market share of 24% in South America and the Middle East, would also follow this model for markets such as Africa and the Middle East, by building cars locally to suit local tastes. Stellantis declined to comment on Filosa’s recent remarks. Faced with increasing Chinese competition, GM announced in August that it would develop South American cars jointly with Hyundai to reduce costs. CHINA'S AUTO IMPORTS GO TO RUSSIA AND MEXICO China is the world's biggest auto exporter. The United States has essentially banned Chinese brand vehicles through trade barriers aimed at safeguarding national and economic security. GlobalData estimates that Chinese automakers will likely end the year with more than 200,000 sales and a 14% share of the market south of the U.S.-Mexico border where there are few EVs sold. Legacy brands like Fiat, Ford, and Chevrolet are losing market share. GlobalData predicts that Chevrolet Mexico sales will be 52,231 this year. This is a decrease of more than 24% from 2023. Mexico announced in September that it would increase tariffs on Chinese vehicles from 20% to 50%. The government claimed this would protect jobs, but analysts argued the move was an attempt to appease Washington. U.S. officials pressured Mexico to limit trade with China in order to prevent China from using Mexico as an "backdoor" to avoid U.S. tariffs. Analysts called the move a tactic to placate Washington. Chinese automakers are also facing political challenges in Russia. Mexico became China's largest auto-export destination this year after Moscow increased fees on Chinese imports. GlobalData reports that Russia increased the tax after China overflowed its market. According to GlobalData, China's share grew from 21% in 2020 to 64% or approximately 900,000. These fees have slashed Chinese imports to Russia. Requests for comments on Chinese auto imports from the governments of Russia and Mexico were not answered. South Africa, like Russia and Mexico, has an industry at home to protect. This includes global automakers that have a large footprint in manufacturing. The government has encouraged Chinese automakers in South Africa to build factories, while threatening to impose tariffs on cheap imports. According to JATO Dynamics, Chinese automakers controlled 16% of the South African car market during the first half. This is up from 10% a few years ago. The Chinese sold almost 30,000 gasoline cars - but only 11 electric vehicles. GlobalData reports that Toyota had the largest South Africa sales decline among traditional automakers, with a drop of almost 15%, or 93,805 cars. Changan, a state-owned company, is launching five new vehicles in South Africa. This includes two battery-powered models. However, the best-seller, according to Changan, will be its diesel-powered pickup truck, or "bakkie", as it's known locally. Marinus Venter who manages Changan for Jameel Motors, said that the EV market would take longer. CHINESE PICKUPS: A NEW FRONTIER In Chile, there are only a few charging stations scattered along the 2,600 miles (4200 km) of mountains and seaside terrain. According to the local auto-industry association, Chinese automakers now account for almost a third of the market in Chile. GlobalData reports that their growth came at the expense for legacy brands such as Chevrolet, Nissan, and Volkswagen, which saw sales fall between 34%-45% in 2017. Chinese brands in Chile are more likely to follow the strategy of a traditional automaker like Toyota, which has sold few EVs worldwide. Vernooij is the Dongfeng manager for Europe. He said that Dongfeng, like other state-owned companies, is actively targeting emerging markets in order to increase sales. Dongfeng offers a wide range of vehicles in Chile, including sedans, vans, pickups, and SUVs. Vernooij stated, "We must win." If you want to be as successful as Toyota, then you can't leave any stone unturned. According to JATO Dynamics, Chinese brands sold less than 1,000 EVs but more than 25,000 internal combustion vehicles in Chile during the first half. Dongfeng, a long-time China-based joint venture partner of Nissan, sells a version Nissan's truck in Uruguay. The Dongfeng Rich 6 resembles a Nissan Frontier, but with a different exterior and an older Nissan V6 motor. Nissan's spokesperson confirmed that the Rich 6 was based on the Frontier, and jointly developed by both automakers. According to Uruguay dealers, the Nissan starts at around $30,990, while the Dongfeng is priced at approximately $21,490. Mariana Betizagasti (33), from Durazno in Uruguay, bought a Rich 6, to handle the heavy work on a farm, such as hauling feed and transporting animals, that her Renault pickup could not do. She said that the low price sealed the deal. "You can get two Chinese trucks at the same price as one traditional brand from Uruguay." Nissan's spokesperson refused to comment on whether Nissan makes money from its overseas sales, or the competition that Chinese automakers pose. Nevertheless, many Chinese automakers sell their exports at prices that are higher than the ones they receive for similar models on China's fiercely competitive market. Yan Jun, executive vice president of Jetour International and Chery's Jetour Brand, stated that Chery will maintain a price-conscious policy as the brand expands into every European country before 2027. In an interview, he stated that "Right Now, not many automakers in China make money." "We do not want to be involved in another price war."

• Special Report-China floods world with gasoline cars that it cannot sell at home

  In just a few short years, China's electric vehicle industry has captured more than half of its domestic market. This has led to a decline in sales for gasoline-powered cars from the once dominant global automakers. Foreign players were not the only losers. Chinese automakers who had been in business for decades also saw their sales plummet and responded by flooding foreign markets with fossil fuel vehicles that they couldn't sell domestically. Despite the fact that Western policymakers are protecting their markets by imposing tariffs on China's heavily subsidized EVs to protect them, U.S. automakers and European automakers will face more competition from China gas-guzzlers from Poland to South Africa, to Uruguay. According to Automobility, China's consultancy, fossil-fuel vehicles account for 76% (or more) of Chinese auto exports. Total annual shipments have increased from 1 million in 2020 to over 6.5 million likely this year. A recent examination revealed that the boom in gasoline exports was driven by the same EV policies and subsidies that destroyed the China businesses for automakers such as Volkswagen, GM, and Nissan. These policies and subsidies underwrote scores of Chinese EV manufacturers and ignited a price war. This phenomenon highlights the impact of Chinese industrial policies, as foreign companies struggle to compete with state-backed firms that are chasing Beijing's goal to dominate key sectors in China and internationally. Industry and government data indicate that China's gasoline vehicle exports last year - without including EVs or plug-in hybrids – were enough to make the nation the largest auto-exporting country by volume. This report on the global expansion of Chinese automakers is based upon a review and analysis of auto sales data from dozens of countries, as well as interviews with over 30 people. These included executives of 11 Chinese automakers and two Western brands, distributor managers for Chinese brands, and industry researchers. The Chinese gasoline car influx into emerging and secondary markets is a clash between Beijing's current push for electric vehicles and earlier policies that helped build China's domestic gas-vehicle sector by leveraging the technology of foreign automakers. State-owned giants SAIC, BAIC and Dongfeng, among others, are the largest exporters. They have historically depended on joint ventures to gain engineering expertise and profits from foreign automakers. In the 1980s, Beijing forced these partnerships as a price for foreign companies to enter China. These joint ventures have seen their sales plummet in recent years, as innovative Chinese EV manufacturers, led by BYD, have risen to prominence. SAIC data shows that SAIC-GM China's annual sales fell from more than 1.4million vehicles to 435,000 cars between 2020 and 2024. These state-owned automakers are now racking up sales on export markets that used to be the sole domain of foreign automakers, who are also their partners in China. SAIC exports, mainly of its own brands and without GM, soared to over a million dollars last year from just under 400,000 in 2020. Jelte Vernooij is Dongfeng Central Europe's manager. He said that Dongfeng exported nearly 250,000 cars last year. This was an increase of almost four times in just five years. Dongfeng has seen its annual global sales fall by one million vehicles, from 2020 to less than two million. This is according to company filings. Vernooij, however, is not worried about Dongfeng’s future because Beijing has backed it. He said that the fact that we are state-owned was important. "There is no doubt that we will survive." It's also a fact that gasoline cars sell better than EVs in markets with limited charging infrastructure, like those of Eastern Europe, Latin America, and Africa. Beijing aims for EVs and hybrids to be dominant in the world. In the meantime, Chinese automakers build overseas brands by offering customers what they want. Chery is China's largest auto exporter. Between 2020 and 2024, its global sales soared from 730,000 to 2.6 millions vehicles. Chery, owned by both the state and the private sector, increased its annual exports from 730,000 vehicles to 2.6 million between 2020 and 2024. Its sales are mainly gasoline powered cars, which account for four-fifths. Five other state-owned carmakers, as well as two private automakers, Geely Motor and Great Wall Motor are also among China's top ten exporters. They sell more gasoline cars than electric vehicles. Two of China's top ten auto exporters are exclusively focused on battery-powered cars. Tesla, the pioneer of electric cars in the United States, is one of them. BYD is the other, and it only sells EVs or plug-in hybrids. BYD has become China's second largest exporter this year, and the country's exports are now dominated by plug-in hybrids. China's gasoline vehicle exports will still exceed 4.3 millions and make up nearly two thirds of the total for this year. Exports are essential for the growth and profitability of Chinese automakers, according to overseas managers from Chery, Dongfeng, and FAW. Giles Taylor is the global vice president of design at FAW. He believes that some rivals in China are just one product away from bankruptcy. He said, "China is overpopulated with auto companies." It's on the verge of a dog-eats-dog situation. Managers said that most brands focus on exporting gasoline cars, because it's easier to sell them in many regions. Nic Thomas, Changan’s European Marketing Director said: "We can fine tune our offering for each market." The National Development and Reform Commission and other top exporters SAIC and BAIC as well as Geely and Great Wall Motor, and the government economic planner did not provide any comments for this report. Executives from global automakers have acknowledged that China's rising rivals are a serious threat to their business, but mainly in relation to the innovative and affordable EVs they produce rather than gasoline-powered models. Toyota, Ford Nissan and Hyundai representatives did not make any comments on China's export boom. Some of the old-timers say they are ready to fight. Alexander Seitz said that he has "no fears of the Chinese." He said, "I respect them for being competitors." "They are welcome to join us." Volkswagen wants to export more cars made in China overseas to counter the competition from China. A GM spokesperson referred to comments made by CEO Mary Barra in October, that the company aims "to compete with Chinese competitors" "with the right technologies at the right costs." IDLE FACTORIES FUEL SURGE The government's policies have created an excess of factory capacity for building them, which has led to the rush by Chinese automakers to export gasoline vehicles. Bill Russo, CEO of Automobility, says that China's rapid EV expansion has idled assembly plants capable of producing 20 million gasoline powered cars per year. These unproductive overheads increase costs and force automakers to use capacity for exports. Russo stated that "that excess capacity is being directed back to the rest of world". AlixPartners, a consultancy, predicts that Chinese automakers will increase their annual sales outside China by 4,000,000 vehicles by 2030. This will result in them gaining large market share in South America and the Middle East. They also expect to gain significant market shares throughout Africa, Southeast Asia, South America and the Middle East. Chinese automakers will control 30% of global auto sales in five years, including expected growth in China, which is the largest auto market in the world. Stephen Dyer is the joint head of AlixPartners China. Beijing's policies encouraged automakers over the past decade to build new electric vehicle plants instead of converting existing gasoline-vehicle facilities. Reports claim that local governments subsidized the boom in factory construction as they competed with each other to attract EV manufacturers, all for Beijing's economic purposes. Cities and provinces that wanted to show development financed automakers' EV factories at a low cost. Local governments prepare the land, build the factories and allow companies to "move in" with only a suitcase. Liang Linhe is the chairman of Sany Heavy Trucks, one of China's biggest truck manufacturers. The result is massive overcapacity. Su Bo, China’s former vice-minister of industry, urged the regulators at a March EV Conference to encourage the conversion of gasoline car factories into battery-powered models. Su Bo, China's former vice minister of industry, urged regulators to promote the conversion of gasoline-car factories into battery-powered models at a March EV conference. He said that the declining gasoline car sales are "leaving significant capacity underutilized" and "plummeting the sector into an essential survival crisis." 'THE REAL BUFFALOO' IN AUTOS: Emerging Markets While EV startups were building factories in China, the legacy Chinese automakers searched for new markets for gasoline cars to maintain their underutilized plants. In Warsaw, Poland on a sunny September day, new SUVs bearing chrome "BEIJING' logos dotted the Plaza dealership. These SUVs were powered by gasoline engines made by BAIC, an automaker owned and operated by the Beijing city government. BAIC is one of 33 Chinese brands to have announced or launched Poland sales, with many selling exclusively or primarily gasoline-powered cars, according to company announcements. GlobalData's sales figures also show that BAIC was among the first Chinese brands in Poland. Jerzy Przadka is BAIC's Poland Manager. He said that there are so few Chinese midsized SUVs with distinguishable features, and many of them look alike, that Poles cannot tell the difference. Marcin Slomkowski is the country manager of GAC and Geely at Jameel Motors. He called the new Chinese competitors that have entered Poland a "simple madness," noting that "local-market expertise" will be the "key to survival." Inchcape is a global distributor of autos. Most of the contracts it has signed recently are with Chinese automakers who have entered emerging markets. Older manufacturers are also joining the global market, as they struggle to meet Beijing's EV development mandates and maintain gasoline-car profit margins. Exports must be tailored to the market, which is usually gasoline cars in emerging economies. Tait stated that "the model you use with China will not necessarily work in Costa Rica or Peru, Indonesia, Greece, or Indonesia." You have to accept the world for what it is and not as you would like it to be. Even in more developed economies, Chinese brands are still a major player when it comes to fossil fuel vehicles. Chery sold almost all its cars in Australia with gasoline engines. Only recently has the company begun to offer plug-in hybrid models. The pragmatism of China's automakers in the engine field created new fronts for their battle to gain market share with foreign competitors. Historically, many automakers focused their marketing and engineering on the biggest or wealthiest markets, such as the United States, Europe and China. In the developing world they focused on cheaper cars with older technology. This has left companies like Stellantis, GM, and VW vulnerable to a flood of cheap Chinese imports with better software and safety features, according to Felipe Munoz of JATO Dynamics, a research firm. "Legacy automobile manufacturers were sleeping." "Now they are paying for it," said he. "The real fight between Chinese automakers and legacy carmakers does not take place in Europe. It is not taking place in the United States. "It's happening in emerging market countries." At a September investor's event, Antonio Filosa (CEO of Stellantis) was asked how the company would react to Chinese competitors. He said that Stellantis, which has a market share of 24% in South America and the Middle East, would also follow this model for markets such as Africa and the Middle East, by building cars locally to suit local tastes. Stellantis declined to comment on Filosa’s recent remarks. Faced with increasing Chinese competition, GM announced in August that it would develop South American cars jointly with Hyundai to reduce costs. CHINA'S AUTO IMPORTS GO TO RUSSIA AND MEXICO China is the world's biggest auto exporter. The United States has essentially banned Chinese brand vehicles through trade barriers aimed at safeguarding national and economic security. GlobalData estimates that Chinese automakers will likely end the year with more than 200,000 sales and a 14% share of the market south of the U.S.-Mexico border where there are few EVs sold. Legacy brands like Fiat, Ford, and Chevrolet are losing market share. GlobalData predicts that Chevrolet Mexico sales will be 52,231 this year. This is a decrease of more than 24% from 2023. Mexico announced in September that it would increase tariffs on Chinese vehicles from 20% to 50%. The government claimed this would protect jobs, but analysts argued the move was an attempt to appease Washington. U.S. officials pressured Mexico to limit trade with China in order to prevent China from using Mexico as an "backdoor" to avoid U.S. tariffs. Analysts called the move a tactic to placate Washington. Chinese automakers are also facing political challenges in Russia. Mexico became China's largest auto-export destination this year after Moscow increased fees on Chinese imports. GlobalData reports that Russia increased the tax after China overflowed its market. According to GlobalData, China's share grew from 21% in 2020 to 64% or approximately 900,000. These fees have slashed Chinese imports to Russia. Requests for comments on Chinese auto imports from the governments of Russia and Mexico were not answered. South Africa, like Russia and Mexico, has an industry at home to protect. This includes global automakers that have a large footprint in manufacturing. The government has encouraged Chinese automakers in South Africa to build factories, while also threatening to impose tariffs on cheap imports. According to JATO Dynamics, Chinese automakers controlled 16% of the South African car market during the first half. This is up from 10% a few years ago. The Chinese sold almost 30,000 gasoline cars - but only 11 electric vehicles. GlobalData reports that Toyota had the largest South Africa sales decline among traditional automakers, with a drop of almost 15%, or 93,805 cars. Changan, a state-owned company, is launching five new vehicles in South Africa. This includes two battery-powered models. However, the best-seller, according to Changan, will be its diesel-powered pickup truck, or "bakkie", as it's known locally. Marinus Venter who manages Changan for Jameel Motors, said that the EV market would take longer. CHINESE PICKUPS: A NEW FRONTIER In Chile, there are only a few charging stations scattered along the 2,600 miles (4200 km) of mountains and seaside terrain. According to the local auto-industry association, Chinese automakers now account for almost a third of the market in Chile. GlobalData reports that their growth came at the expense for legacy brands such as Chevrolet, Nissan, and Volkswagen whose sales dropped between 34% and 45% last year. Chinese brands in Chile are more likely to follow the strategy of a traditional automaker like Toyota, which has sold few EVs worldwide. Vernooij is the Dongfeng manager for Europe. He said that Dongfeng, like other state-owned companies, is expanding into emerging markets in order to increase sales. Dongfeng offers a wide range of vehicles in Chile, including sedans, vans, pickups, and SUVs. Vernooij stated, "We must win." If you want to be as successful as Toyota, then you can't leave any stone unturned. According to JATO Dynamics, Chinese brands sold less than 1,000 EVs but more than 25,000 internal combustion vehicles in Chile during the first half. Dongfeng, a long-time China-based joint venture partner of Nissan, sells gas-powered trucks in Uruguay that are a version Nissan's truck. The Dongfeng Rich 6 resembles a Nissan Frontier, but with a different exterior and an older Nissan V6 motor. Nissan's spokesperson confirmed that the Rich 6 was based on the Frontier, and jointly developed by both automakers. According to Uruguay dealers, the Nissan starts at around $30,990, while the Dongfeng is priced at approximately $21,490. Mariana Betizagasti (33), from Durazno in Uruguay, bought a Rich 6, to handle the heavy work on a farm, such as hauling feed and transporting animals, that her Renault pickup could not do. She said that the low price sealed the deal. "You can get two Chinese trucks at the same price as one traditional brand from Uruguay." Nissan's spokesperson refused to comment on whether Nissan makes money from its overseas sales, or on the competition that Chinese automakers pose. Nevertheless, many Chinese automakers sell their exports at prices that are higher than the ones they receive for similar models on China's fiercely competitive market. Yan Jun, executive vice president of Jetour International and Chery's Jetour Brand, stated that Chery will maintain a price-conscious policy as the brand expands into every European country before 2027. In an interview, he stated that "at the moment not many automakers in China make money." "We do not want to be involved in another price war."

• US plans to secure minerals in response to the peace agreement between Congo-Rwanda and the US

  The United States Development lender announced on Friday plans to take a stake to market Congo minerals, which could give U.S. users of copper and cobalt the right to first refusal. The U.S. and China are in a heated competition to gain access to minerals that are crucial to the manufacture of everything from cars to iPhones. Congo has 72% of the world's cobalt reserves, and supplies 74% of that amount. Many of these mines are artisanal. The plans for investment were revealed a day after U.S. president Donald Trump hosted leaders of Rwanda and the Democratic Republic of Congo to sign an agreement to end the long-running conflict in Congo's mineral rich east and stabilize supply chains. Trump said it was a new era in harmony and cooperation, which would bring peace and prosper across the region. However, neither country had implemented the pledges that were at the heart of the agreement and fighting broke out again on Friday. The peace agreement ties security commitments with an economic framework that opens up Congo's reserves of copper, cobalt and lithium to Western investors looking for minerals critical to EVs and renewable energy. CONGO AND METALS: A REDEFINED LINK The U.S. International Development Finance Corporation has expressed an interest in acquiring equity in a joint venture between Congo’s state miner Gecamines, and Swiss commodities group Mercuria for the marketing of copper and cobalt. In a joint press release, Gecamines said that the partnership could include minerals such as germanium and gallium. These are vital to semiconductors and solar panel technology. Guy Robert Lukama said that this collaboration is a crucial step for Gecamines to enhance its position in the global market. The two companies have said that under a possible deal with the International Development Finance Corporation U.S. consumers would get a first right of refusal on supplies of copper and cobalt. The lender stated in a separate press release that the planned U.S. investments in the partnership will support the commercialization of cobalt, copper and other essential minerals. This will give U.S. buyers and their allies access to supplies vital for electric vehicles and renewable energy. The partnership announced that it is aiming to improve transparency and competition in the world’s largest cobalt producer. This country recently introduced export quotas and launched traceable artisanal artisanal cobalt. Mercuria, as part of the agreement, will offer expertise in logistics and finance and provide training on risk management and operations. The statement also said that the venture plans to invest in export infrastructure, which will help ease mineral bottlenecks. Kostas Bintas is the global head of Mercuria for metals and minerals. He called this partnership "a redefined way of how Congo interacts globally with metals markets". DFC has also indicated support for another project in Congo to renovate the Dilolo - Sakania railway line. This project could be funded up to $1 billion. The line would be connected to Angola’s Lobito Atlantic Railway creating a strategic route to move goods and minerals across Central and Southern Africa.

• Congo fighting flares up within hours of Trump’s peace deal ceremony

  Fighting broke out in the eastern Democratic Republic of Congo Friday, just a day after U.S. president Donald Trump met with Congolese leaders and Rwandans in Washington for the signing of new agreements aimed at ending decades of conflict in this mineral-rich region. On Thursday, Congo's Felix Tshisekedi reaffirmed his commitment to the U.S.-brokered agreement reached in June. The deal aims to stabilize the vast country by allowing more Western mining investments. "We are settling a long-running war," said Trump. His administration intervened in many conflicts around the globe to burnish Trump's credentials as a world peacemaker, and advance U.S. corporate interests. The warring parties blamed each other for the fierce fighting that continued on the ground. AFC/M23, a rebel group backed by Rwanda, which has seized two of the largest cities in eastern Congo this year, and is not bound to the Washington agreement, claimed that forces loyal to government are launching widespread attacks. In a press release, the group stated that 23 people had been killed and others injured in bombings that targeted towns located in South Kivu Province in eastern Democratic Republic of Congo. A Congolese Army spokesman stated that clashes are ongoing and Rwandan troops are bombing. FAMILY FLEE CLASHES Analysts claim that U.S. diplomatic efforts halted the escalation in fighting in eastern Congo, but did not resolve key issues. Neither Rwanda nor Congo fulfilled their commitments in the June agreement. Online videos showed dozens displaced families fleeing with their possessions and livestock in the direction of Luvungi, in South Kivu Province in eastern Congo. It was not possible to verify them immediately. Lawrence Kanyuka wrote, "Women and children alike have tragically died in this tragedy." He wrote that the Congolese forces "continued to attack densely populated North Kivu areas and South Kivu using heavy artillery, drones, and fighter jets." Un spokesperson for the Congo army confirmed that there were clashes along the Kaziba-Katogota-Rurambo axis of South Kivu Province. The bombardment by the Rwandan Defence Force has caused a population displacement in Luvungi. He said that they were bombing blindly. The Rwandan army and government spokespersons were not available to comment immediately. A senior AFC/M23 representative said that rebel forces had recaptured the town of Luberika, and destroyed a drone used by the Congolese Army. He asked to remain anonymous as he wasn't authorized to speak with media. He said: "The war is still going on and it has nothing to do with the signing agreement yesterday in Washington." Reporting by Congo Newsroom, Writing by Bate Felis; Editing and proofreading by Philippa Fletcher & Alex Richardson

• Mercuria and Congo's Gecamines partner to market critical minerals

  The companies announced on Friday that Gecamines, Congo's state-owned miner, is working with Swiss commodities group Mercuria in order to increase transparency and revenue for the world's largest cobalt producer. The Democratic Republic of Congo is also a major supplier of copper. It has undertaken reforms to gain more control over the mining output of its country and increase its global influence. In October, it introduced a cobalt export quota to reduce oversupply. Last month, the country launched its first batch traceable artisanal copper. Gecamines, based on the memorandum it signed earlier this summer, will have direct control over its sales volumes through joint ventures. It will also be able to compete in tenders. Guy Robert Lukama is chairman of Gecamines. He said: "This collaboration marks an important step in Gecamines’ journey to strengthen its position in the global market for metals." US PURSUIT MINERAL SECURITY Mercuria is providing expertise in logistics, finance and trading as part of the deal. It will also provide training on risk management and operation. The statement also said that the venture plans to invest in export infrastructure, which will help ease mineral bottlenecks. Kostas Bintas is the global head of Mercuria Metals and Minerals. He called this partnership a "redefinition of Congo's interaction with global metals market." Western countries are looking for ways to reduce their dependence on China by securing critical mineral supplies. Washington is particularly interested in Congo. This week, the U.S. brokered a deal between Congo (and Rwanda) to end a long-running conflict in Congo’s mineral-rich eastern region and stabilise supply chains. However, renewed fighting broke out on Friday. The peace agreement ties security commitments with an economic framework that opens up Congo's reserves of copper, cobalt and lithium to Western investors looking for minerals critical to EVs and renewable energy. Gecamines and Mercuria reported that the U.S. International Development Finance Corporation expressed an interest in acquiring a stake in the new mineral partnership. They said that under a possible deal, U.S. consumers would have a first right of refusal over copper and cobalt supply. The statement stated that the partnership could expand to include minerals such as germanium and galium, which are vital for semiconductors. Mercuria is looking at additional deals in Congo. The country is home to 72% of the world's cobalt reserves, and supplies 74%, with a large portion coming from artisanal mining.

• US Defense Agency's push to stockpile Cobalt is paused as the price soars

  A DLA spokesperson said on Thursday that the U.S. Defense Logistics Agency intends to continue purchasing cobalt as part of the National Defense Stockpile, but it is reassessing the strategy. There is no set date for reissuing this tender. The agency will likely pay more for any purchases of cobalt, as the prices have risen by 50% since the initial tender in August. The DLA has not stockpiled cobalt in over 30 years. Cobalt is essential to the United States' national security and industrial strength as global competition for strategic minerals increases. The U.S. also wants to reduce its reliance on China. China dominates the processing of metals used in missiles, aerospace components, magnets for communications and radars and guidance systems. DLA is currently reviewing its cobalt acquisition strategy. DLA's spokesperson confirmed that the requirement was still valid and the agency still intended to buy the material for its National Defense Stockpile. The agency has not set a date to reissue the solicitation. The original tender announced on August 19, with offers due to be submitted by August 29, went through several changes before being cancelled in October. Cobalt is currently priced at $24 per lb, or $52,910 per metric ton. This compares to $16 alb, or $35,275 for a ton back in August. Since February, when exports were banned by the top producer Democratic Republic of Congo, prices have been rising. Congo has since implemented quotas but producers still wait for approval from the government to resume exports. In its original offer, the agency detailed their plans to buy 16.49 million pounds or 7,480 tons of cobalt over a period of five years for the National Defense Stockpile. The initial offer was only from three companies: Vale's Port Colborne, Long Harbour and Sumitomo metal mining plants in Canada; Glencore's Nikkelverk operations in Norway; and Japan's Sumitomo. Sources in the cobalt industry say that the DLA wanted companies to commit to a fixed price for the five-year period, which didn't take into account the possibility of price fluctuations. This could lead to producers suffering losses. (Reporting and editing by Kirovan Donovan; reporting by Pratima Dasai)

• OPEC oil production slips in November despite an agreed-uplift, survey finds

  A survey on Thursday found that OPEC oil production fell in November despite an OPEC+ deal to increase production in the month due to unavailability in some members. This brought the supply of the group even further below their target. According to the survey, the Organization of the Petroleum Exporting Countries (OPEC) pumped 28,40 million barrels of oil per day in October, a decrease of 30,000 barrels per days from the total for October. Nigeria and Iraq recorded the largest declines. OPEC+ - a grouping of OPEC, Russia and its allies - has slowed down the rate of monthly production increases due to concerns about an oversupply. Many members are close to their capacity limits, and some have been given extra cuts in order to compensate for an earlier overproduction. This will limit the impact of any further increases. According to an agreement between eight OPEC+ member countries covering November output, five of the OPEC-members - Algerian, Iraqi, Kuwaitian, Saudi Arabian and UAE - had to increase output by 85,000 bpd, before the effects of compensation cuts totaling 140,000 bpd. The survey indicates that the actual increase of the five is 40,000 bpd. Iraq's exports were lower, according to the data and sources in this survey, because of pipeline maintenance. A fire at the Yoho platform in Nigeria and the subsequent shutdown of that platform led to a drop in shipments. Many outside sources estimate the output of Iraq and the UAE higher than those countries themselves. Other estimates, like those from the International Energy Agency (IEA), say that they pump significantly more than the quotas. The survey aims at tracking supply on the market. It is based upon flow data provided by financial group LSEG and other companies who track flows such as Kpler. Information was also provided by sources from oil companies, OPEC, and consultants. Ahmad Ghaddar contributed additional reporting. Mark Potter edited the article.

• Niger accuses France’s Orano of uranium pollution as the uranium dispute deepens

  Niger accused French nuclear fuel company Orano, of "predatory behaviour" and environmental crimes. This escalated a bitter dispute about control of the West African country's uranium mining. Orano, the military-led government, could be prosecuted for "mass crime" after 400 barrels radioactive core were found in Madaouela near Arlit where Orano operated its uranium mining operations. Orano, 90% owned in France by the state, denied that it was operating in Madaouela and said it did not receive any official notification of legal action. In a written answer to questions, the company stated that it did not have an operating license at the Madaouela location and had never conducted any operations there. Justice Minister Alio Daouda stated that the radiation levels in the area were much higher than usual -- approximately 7 to 10 microsieverts an hour, as opposed to the normal 0.5 microsieverts. Two substances were also detected that could cause breathing problems or be harmful for people. ORANO HAS NOTICE OF NIGER'S LEGAL ACTION BUT NO ACTIVITY FROM ORANO Orano lost 63.4% of its stake in the Somair Mine when Niger nationalized it in June. Niger started transporting uranium last week. It said it was exercising its sovereignty right, despite an order from a World Bank Tribunal barring it access to the stockpile. Orano called the move illegal and warned that the shipment was a serious risk to safety and the environment, claiming it did not have any evidence that the transport met international standards. Niger is a major producer of cancer treatment materials and nuclear fuel. France, which relies 70% on nuclear energy for its electricity, purchased about 15% of the uranium it needed from Niger during its peak mining period. The expropriation by Niger of Orano shares reflects a regional shift in which military-led governments are asserting greater control over resources. Previous reports stated that around 1,500 metric tonnes of uranium was stockpiled at Somair. Potential buyers included Turkish, Iranian, and Russian interests. Reporting by Niger Newsroom in Dakar and Maxwell Akalaare Adombila; Editing by Felix Bate, Tomaszjanowski and Tomasz Bate

• UN weather agency: Middle East and North Africa temperatures are rising twice as quickly as the global average.

  In a recent report, the U.N. Weather Agency said that 2024 was the hottest year ever recorded in the Middle East and North Africa, with temperatures increasing at a rate twice as high as the global average in the last few decades. According to the first report by the World Meteorological Organization focused on this region, heatwaves are getting longer and stronger. WMO Secretary General Celeste Saulo said, "Temperatures have risen twice as fast as the global average with intense heatwaves pushing society to its limits." Reports found that the average temperature for 2024 is 1.08 C higher than the average from 1991-2020. The highest temperatures were recorded in Algeria, at 1.64 C over the average. Saulo warned extended periods above 50 C in several Arab countries are "too hot" to handle for the health of humans, ecosystems, and economies. The report stated that droughts have increased in frequency and severity in North Africa, which is home to 15 countries with the lowest water availability in the world. Heatwaves are also becoming longer and more intense, as the trend in North Africa has been since 1981. The report revealed that Morocco, Algeria, and Tunisia were all affected by drought due to consecutive failed rainy seasons, while Saudi Arabia, Bahrain, and the United Arab Emirates experienced flash floods caused by heavy rainfall. WMO reported that more than 300 people died in the region last year due to extreme weather events. These included heatwaves, floods and droughts. Nearly 3.8 million people were affected by these events. According to the report, urgent investment is needed in water security. This includes desalination, reusing of wastewater and warning systems that reduce risk from extreme weather events. About 60% of the area has these systems. The report cited regional projections by the Intergovernmental Panel on Climate Change. Reporting by Olivia Le Poidevin. Mark Potter (Editing)

• Trump hosts Congo and Rwanda leaders in latest peace push

  Donald Trump, the U.S. president, will meet with leaders of the Democratic Republic of Congo (DRC) and Rwanda in Washington to sign new agreements aimed at stabilizing war-torn region and attracting Western investment. The Rwandan president Paul Kagame, and the Democratic Republic of Congo president Felix Tshisekedi will be expected to declare their commitment to a economic integration compact that has already been agreed. Last month, As well as an U.S.-brokered peace deal Reached in June, but not yet implemented Analysts claim that U.S. diplomatic efforts have halted the escalation in fighting in eastern Congo, but failed to resolve fundamental issues. M23 rebels, supported by Rwandan troops, took control of the two biggest cities in eastern Congo in an explosive advance earlier this year, raising fears of a wider conflict. Trump is eager to polish his diplomatic credentials. Since January 2017, his administration has intervened across conflicts, from the Middle East and Ukraine to beyond. These efforts have produced mixed results. They include a deal with Gaza, and criticisms that the president should concentrate on increasing discontent in the United States over his handling of cost of living issues. Before the meeting, the name of the president was added to an outside sign of the United States Institute of Peace. This is a nonprofit founded by the government that his administration attempted to take control of earlier in the year. The deal will be signed at the Institute. However, the agreement may not immediately resolve the humanitarian crisis. In dueling speeches on Tuesday, Congo’s army and the M23 rebels both accused each other in separate statements of violating ceasefire agreements which were renewed last week. Patrick Muyaya, a Congolese official who spoke at a Washington news conference on Wednesday, blamed M23's recent violence and said that it was "proof Rwanda doesn’t want peace." M23 will not be attending the Washington meeting. The M23 is not bound to any Congo-Rwanda agreements. Jason Stearns is a professor and regional expert at Canada's Simon Fraser University. He said that the U.S. has succeeded in putting a pin on the conflict, so that it does not escalate. "They've only done a little bit, which is to put a pin into it. The core issues are still not resolved." It doesn't seem like the issues are getting any closer to resolution. Rwanda denies backing M23. Kigali claims that its forces acted in defense of themselves against ethnic Hutu militiamen connected to the Rwandan genocide. In a report published in July, a group of United Nations specialists said that Rwanda exerts command and control over rebels. M23 claims it is fighting to protect the ethnic Tutsi in eastern Congo. The advances of the rebel group mark the latest episode of an ethnic rivalry that has been raging in the eastern borderlands between Congo and Rwanda for over 30 years. Between 1996 and 2003, two devastating wars in Africa's Great Lakes region cost millions of people their lives. The latest round of fighting has resulted in thousands of deaths and hundreds of thousands of displaced people. A MINERAL-RICH REGION The Trump administration discussed the possibility of facilitating Western investments worth billions of dollars in a region that is rich in minerals such as tantalum and tungsten. It also has copper, gold, cobalt and lithium. Washington is scrambling to gain access to vital minerals controlled by China, its main rival. According to the agreement backed by Trump, Congo would have to crackdown on an armed opposition group to M23 - the Democratic Forces for the Liberation of Rwanda(FDLR). Rwanda would have to withdraw its troops from Congo. Since the signing of the agreement in June, there has been little progress made towards either commitment. In an interview on Wednesday, Rwandan Foreign Ministry Olivier Nduhungirehe said: "We hope to see improvements on the ground after the signing."

• Ivanhoe Mines predicts a Kamoa-Kakula copper production of up to 420,000 tonnes in 2026

  Ivanhoe Mines said that its recovery plan is progressing and it expects the copper production at its Kamoa/Kakula complex to reach between 380,000-420,000 tons of copper in 2026, and 500,000-540,000 tonnes in 2027. It will update its life-of-mine plans towards the end the first quarter next year. In its report on production guidance, Ivanhoe said that copper sales are expected to exceed output in 2026 as it clears 20,000 tons concentrate stock once its new smelter, Africa's biggest, starts up in December and shifts production to copper anodes. Robert Friedland, Ivanhoe's co-chairman, said that the company was "on the brink of a transformative change", as Kamoa Kakula switches from producing copper concentrates to copper anodes. Copper concentrate is semi-processed and shipped to smelters by third parties for refinement. Copper anodes are produced by smelters and are 99% pure. They can be sold directly to manufacturers or further refined. After the seismic disruptions in early 2015, the company expects Kamoa-Kakula to produce 370,000 to 400,00 tons of copper by 2025.

• Perseus Mining shatters Predictive and Robex gold partnership

  Predictive Discovery, an Australian gold explorer, announced on Wednesday that it received a superior proposal from Perseus Mining. The company was valued at approximately A$2.1 billion (1.38 billion dollars), displacing a previous tie-up between Robex Resources and Australia. Early October, Predictive Discovery which is developing Bankan's gold project in Guinea agreed to merge with Robex as part of a A$2,35 billion deal. This will create a mid-tier West African producer. Perseus offers a premium of 24.5% over Predictive's closing price. The stock is valued at A$0.778 per share. Shareholders will receive 0.136 Perseus share for every Predictive share. Perseus holds 17.8% Predictive's outstanding ordinary share capital. Predictive’s board, after receiving financial and legal advice, said that it considered Perseus’ offer to be a "superior proposition" in its agreement with Robex. Robex will have five days to respond to Predictive's bid. This deadline will determine if Robex intends to match or reject the other bid. Robex didn't immediately respond to an 'ask for comment. Perseus also proposed a loan facility of A$37m to cover the termination fee due to Robex as well as pre-development and working capital costs.