GM is committed to its operations in China despite challenges from local competition and investor pressure. The company aims for a self-sustaining, cash-stable business despite recording a $104 million loss in Q2 2024. GM’s shares rose over 4% following its restructuring plans with a joint-venture partner.
Meanwhile, China’s EV market is booming. In July 2024, EVs and plug-in hybrids accounted for 50.7% of car sales, driven by government incentives like doubled cash incentives and tax exemptions. Beijing expanded its NEV license quotas to reduce pollution.
In early 2024, EVs made up nearly 33% of new car sales in Singapore, attracting Chinese automakers like Zeekr and Xpeng. With Singapore targeting 60,000 charging points by 2030, the city-state is becoming a key market for Chinese EV brands.
Nissan has unveiled a new "self-healing" paint to fix those little scratches your car collects like badges of honor. The paint, which sounds like something out of a sci-fi flick, uses some fancy polymer science to fill in the scratches when exposed to sunlight. So, if you've ever wanted your car to be as invincible as it feels in a video game, Nissan's got you covered—literally.