12:58:14 EDT Tue 13 Oct 2026
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Volkswagen CDR (CAD Hedged)
Symbol VWA
Shares Issued 80,000
Close 2026-10-09 C$ 7.23
Market Cap C$ 578,400
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Globe/NYT say BMW, others see Chinese EVs gain ground

2026-10-13 09:38 ET - In the News

See In the News (C-BMW) BMW CDR (CAD Hedged)

The Globe and Mail reports in its Tuesday edition that BYD, China's dominant maker of electric vehicles, aims to open so many outlets in Germany that no one has to travel more than 20 minutes to buy one of its cars. A New York Times dispatch to The Globe says that one of BYD's Chinese rivals, Xiaomi, sees Germany as the foundation of its European expansion plans, after selling 700,000 cars back home. Germany is the birthplace of the automobile and the home of Volkswagen, BMW and Mercedes-Benz. These days, it is also a top destination for Chinese companies selling cars at a considerable discount to European vehicles. "Customers don't care if it's a Chinese car or a German car," said Ferdinand Dudenhöffer, a German auto analyst and former executive at Porsche. What they do care about, he said, is the price. Shut out of the United States by tariffs, Chinese automakers have focused on other overseas markets -- and Europe is a prime target. Low-cost Chinese car brands are enticing customers across the continent as surging gasoline prices drive interest in EVs. Chinese cars account for about one in every 10 cars sold in Europe, up from one in 100 five years ago and are rapidly gaining ground on leaders like Volkswagen.

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