Five years after commencing its automotive ambition, Huawei said the unit has come out of the red. Richard Yu, Huawei’s chairman of the smart car solutions business unit, recently said the company’s automotive business unit and the smart selection car segment have turned profitable in the first quarter of 2024.

Lai Ching-te has officially assumed office as the 16th President of Taiwan, signaling a firm stance towards Beijing. His inaugural speech made clear that the new administration will not compromise on its position, suggesting that the current economic and industrial ties across the Taiwan Strait will remain largely unchanged. This hardline approach implies limited room for further deterioration and scant chances for improvement in relations.

Cheap electric vehicles from China are already pushing into Europe, undercutting one of the region’s biggest industries. BYD Co., which overtook Tesla Inc. last year to become the biggest global EV maker, is about to raise the stakes.
The Chinese manufacturer last month announced plans to introduce its Seagull hatchback in Europe next year, which offers premium features like cruise control and wireless phone charging but sells for less than $10,000 in China. Even after tariffs and modifications to meet European standards, BYD executives have pledged to sell the Seagull for less than €20,000 ($21,500) on the continent.