Unveiled at the 2015 Auto Shanghai, the Qiantu K50 Event! is not only China’s first-ever electric supercar, it is its first supercar, period!
The Qiantu K50 Event! Is based on the CH Auto Event concept that was revealed at the previous Auto Shanghai and is powered by an electric motor that produces around 400 horsepower and 650 Nm (480 lb-ft.) of torque, sent to the ground via the rear wheels.
According to manufacturer Qiantu Qiche, it can accelerate from 0 to 100 km/h (62 mph) in five seconds and can travel around 200 km (124 miles) on a single charge.
Two versions of China’s first supercar will be available. First is a standard model featuring a leather-wrapped dashboard, center console and door cards, as well as a touchscreen infotainment system. And the second is a racing version with a more aggressive, performance-enhance exterior.
The Qiantu K50 Event has been confirmed for production. Does the first super car made in China meet your expectations? Let us know in the comments below.
China’s Geely Buys 10-Percent Stake In Mercedes Parent Daimler
Chinese automaker Geely has acquired a 10 percent stake in Mercedes-Benz parent company Daimler, becoming it largest single shareholder.
Geely has owned Volvo Car since 2010 and has a controlling stake in Lotus; the investment of around $9 billion further expands its interest in European automakers.
Daimler expressed optimism about the acquisition in an interview with , with spokesman Joerg Howe stating:
“[Geely chairman] Li Shufu is a Chinese entrepreneur Daimler knows well and regards highly in terms of his competency and focus on future developments. Daimler already has a strong footing in China. We have a very strong partner with our existing cooperation with BAIC Motor.”
They two companies have yet to announce any collaborative projects or intellectual property sharing, but the investment could provide Geely with more opportunities to expand its global reach in an automotive industry that’s moving towards electrification and autonomous vehicles.
Move Aside U.S., China is Now Cadillac’s Largest Market
Well, that was quick… Just days after we reported that China will eventually overtake the United States as Cadillac’s largest market, the middle kingdom now accounts for the most Cadillac sales.
Cadillac’s sales fell 4.1 percent to 10,298 units in the U.S. during the month, while its sales jumped an almost unbelievable 116 percent to 18,011 units in China.
Granted we’re only going by January’s results, 2017 will most certainly be the year China overtakes the U.S. given the brand’s sales momentum in the world’s largest market.
Cadillac President Johan de Nysschen stated:
“Cadillac begins 2017 with a continuation of the robust global growth of 2016, a year in which we sold more products worldwide than any point in the past three decades. We are growing the business significantly and attracting a youthful and affluent demographic, elevating the aspirational character of the brand. This is particularly the case in China, where our growth is explosive and sustained.”
The U.S. ended 2016 with a comfortable lead over China in terms of Cadillac sales, accounting for 170,006 deliveries compared to China’s 116,406 units. Expect a flip-flop in 2017.
Do you find it strange that a “communist” country is now the largest single market for an iconic car brand that was once the very embodiment of capitalist ideals? Share your thoughts in the comments below.
China Fines GM for “Monopolistic” Pricing
General Motors has found itself on the wrong side of the Chinese government, having been found guilty of “monopolistic” pricing.
According to , the government accused the American automaker and its partner SAIC Motor Corp Ltd. of setting minimum pricing on vehicles sold under the Cadillac, Chevrolet and Buick badges and slapped the joint venture with a fine of 201 million yuan (approximately $29 million).
The company said in an emailed statement:
“GM fully respects local laws and regulations wherever we operate. We will provide full support to our joint venture in China to ensure that all responsive and appropriate actions are taken with respect to this matter.”
It has been speculated that Chinese government officials fined GM in retaliation to President-Elect Donald Trump selecting a trade adviser with a long history of speaking out against America’s dealings with China.
Sources who spoke with Reuters claim the investigation was underway long before the U.S. elections. However, we find it a bit suspicious that it took until now for the government to penalize such blatant market manipulation.