financetom
Business
financetom
/
Business
/
Windrose plans truck assembly in U.S. in rare move by Chinese EV firm
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Windrose plans truck assembly in U.S. in rare move by Chinese EV firm
Jul 23, 2024 3:28 AM

SHANGHAI (Reuters) -Chinese electric truck startup Windrose plans to set up a U.S. assembly plant for its semi-trucks for delivery there from 2025, directly challenging Tesla in its home market, founder and Chief Executive Han Wen said in an interview.

The move signals a potential return of Chinese electric vehicle companies to the world's second-largest auto market, and comes after Republican presidential candidate Donald Trump has repeatedly said he would support such investment in the U.S..

President Joe Biden's administration, in contrast, has sought to keep Chinese electric vehicles out of the United States via heavy tariffs, and excluded components linked to China from its electric auto incentive schemes, effectively shutting out investment from China's EV industry.

That policy has kept BYD, China's biggest EV maker and currently in the middle of a global expansion plan, from making moves to set up plants or sell cars in the U.S..

Windrose's U.S. plant, to be located in Georgia, will piece together chassis and other vehicle parts manufactured in China to serve its U.S. customers, Han told Reuters on Friday.

U.S. buyers account for the majority of the company's existing order book of 6,400 trucks, which it aims to make and deliver over the next three years, he said. Han did not say how much Windrose would invest in the United States or give specifics on how many orders come from buyers there.

"The U.S. market is friendly towards Chinese heavy electric trucks based on the fact that the tariffs on imported trucks are much lower than those on cars," Han said.

"Many of our clients are U.S. firms, for example, Nike... and we can serve them in their home market."

Windrose's heavy truck will compete directly with Tesla's Semi at the same price of about $250,000. The trucks will come with a battery pack of more than 700 kilowatt hours, with a capacity to run more than 670 km (418 miles) on a single charge fully loaded at 49 tons.

Tesla is yet to mass produce and deliver the Semi trucks and as of April it had delivered 36 of 100 electric trucks it promised to PepsiCo in 2017, making other food distributors and retailers turn to rival electric-truck makers, Reuters reported previously.

EXPANSION IN EUROPE

Windrose also plans an assembly plant in Belgium next year and will start moving more sophisticated manufacturing work to its overseas plants, Han said.

The European Union has imposed an extra tariff of up to 38% on EVs imported from China to counter what it says are unfair state subsidies.

Han said it was a "justified move" given the EU wants to develop an EV supply chain in Europe, similar to what China has done in recent decades.

"Belgium is backing and introducing us to the region just like what Shanghai did for Tesla. They also hope we will be a catfish in Europe, to teach them how to build an EV and to help them get out of their dark 'Middle Age'," Han said, referring to a widely used Chinese analogy for a catalyst.

China approved Tesla's opening of a Shanghai plant in 2018, hoping that dropping a big "catfish", Tesla, in the tank would motivate smaller fish, China's EV makers, to swim faster.

Windrose, founded by Han two years ago, will start delivering its first batch of electric trucks in China in August and aims to achieve a global production capacity of more than 10,000 annually by the end of 2027.

Han's team of 140 people develops and designs the Windrose trucks but manufacturing is being outsourced to Chinese automakers Anhui Jianghuai Automobile Group and Higer Bus.

Windrose's battery suppliers CALB and EVE Energy are also building battery plants in Europe.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Geely chairman says global auto industry facing 'serious overcapacity'
Geely chairman says global auto industry facing 'serious overcapacity'
Jun 7, 2025
SHANGHAI (Reuters) -Geely's chairman and founder Li Shufu said on Saturday that the global automotive industry was facing serious overcapacity and that the Chinese automaker had decided not to build new manufacturing plants or expand production in existing facilities. Li made the comments at an auto forum in the central city of Chongqing, according to the company. Geely Holding owns...
Senior Taiwan official visits site of new Alaska LNG project
Senior Taiwan official visits site of new Alaska LNG project
Jun 7, 2025
TAIPEI (Reuters) -A senior Taiwanese official said on Saturday he had this week visited the site of a potentially enormous new liquified natural gas (LNG) project in Alaska that the Trump administration has been pushing hard to allies in Asia as a supply option. Energy developer Glenfarne had said on Tuesday that 50 firms had formally expressed interest in contracts...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Geely chairman says global auto industry facing 'serious overcapacity'
Geely chairman says global auto industry facing 'serious overcapacity'
Jun 7, 2025
SHANGHAI, June 7 (Reuters) - Geely's chairman and founder Li Shufu said on Saturday that the global automotive industry was facing serious overcapacity and that the Chinese automaker had decided not to build new manufacturing plants or expand production in existing facilities. Li made the comments at an auto forum in the central city of Chongqing, according to the company....
Copyright 2023-2026 - www.financetom.com All Rights Reserved