Chinese cars are big in South Africa

Chinese cars are big in South Africa

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FAW hits 10,000 in South Africa: On Saturday, FAW Group 第一汽车集团, one of China’s Big Four auto manufacturers, announced that it had assembled the 10,000th vehicle at its plant in the Coega Special Economic Zone, near Gqeberha (Port Elizabeth). The plant began operating in 2014. In the third quarter of 2022, FAW reportedly held a market share of 11% of South Africa’s total auto market.

Hotel group lists on Nasdaq: On Friday, hotel group Atour Lifestyle Holdings 亚朵集团 listed on Nasdaq at $11 per share. After the first day of trading, the share price rose by 40.9% to $15.50. The IPO is estimated to have raised over $60 million.

More than 350 Chinese aircraft sold at Zhuhai Airshow: The Zhuhai Airshow, or the 14th China International Aviation and Aerospace Exhibition, took place in Guangdong Province on November 8-13. Cooperation agreements worth 250 billion yuan ($35.16 billion) were signed at the airshow, and more than 350 Chinese aircraft were sold, including 300 of the new C919 airliner built by COMAC 中国商用飞机, which competes with narrow-body planes from Airbus and Boeing. The customers were all Chinese leasing companies.

Deadly Tesla accident: Yesterday, a video circulated on Chinese social media showing an accident that occurred on November 13 involving a Tesla Model Y in Chaozhou, Guangdong Province. The post claimed that the car’s brakes had failed. The car crashed at high speed into two motorcycles, killing two people. On Sunday, Tesla China responded to a media query by saying that the video showed that the vehicle’s brakes had not been used throughout the accident.

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