Stock Groups

Chairman Mao’s favoured carmaker enters Europe with EVs in Norway By Reuters

by Mike Robinson

[ad_1]

© Reuters. At the Great Hall of the People, Beijing, China, January 8, 2020, a man walks by a Hongqi sign, also known as the Red Flag. Photo taken January 8, 2020. REUTERS/Yilei Sun

BEIJING (Reuters). Chairman Mao Zedong’s favourite car brand, Hongqi, also known as Red Flag, exports Chinese-made electric sports-utility vehicles to Norway. This is in response to Chinese car makers expanding globally.

Hongqi stated late Thursday that it received 500 orders in Norway for its electric cars. The company said they have good infrastructure and policies for environmentally-friendly vehicles.

Hongqi has been the largest market for cars in China since 1999. This is due to increased sales and the introduction of new models.

Hongqi, who is seen as China’s cultural symbol, hired Giles Taylor, an ex-Rolls-Royce (OTC) designer to lead its Munich design team. Taylor has worked on Rolls-Royce’s Phantom VIII limousine and first sports-utility model, Cullinan.

China’s leading electric car manufacturers, Nio (NYSE.) Inc., Xpeng, (NYSE.:) Inc. and BYD want to gain European market share in the new green energy revolution.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this website’s data including quotes, charts, or buy/sell signal information. Trading the financial markets is among the most risky investment options. Please make sure you are fully aware of all the costs and risks involved.



[ad_2]