Global Automotive Industry Boosts Billionaires' Wealth, Chinese Tycoons Stand Out

2024/04/02
General News
-
Indonesia
Malaysia
According to research by MarketsandMarkets, China accounts for approximately 60% of global electric vehicle sales, significantly contributing to the wealth of many billionaires, particularly in China. By 2024, the used electric vehicle market is expected to gain momentum, with sales anticipated to rise by about 100% compared to 2022 and 40% compared to 2023. Additionally, global sales of passenger and commercial vehicles are projected to reach 95 million units in 2024, increasing by over 3.1% from 2023. Several billionaires, including Elon Musk with a net worth of $195.3 billion, have amassed part of their fortunes through involvement in and ownership of automotive companies. Other notable figures include Robin Zeng, Stefan Quandt, and Susanne Klatten, who have also amassed significant wealth in the automotive industry.
Click original text link for more information
GAIKINDO
Hot News
212 T01 60th Anniversary Edition Interior Revealed with Two-Tone Design and Exclusive Embroidery
The 212 T01 60th Anniversary Edition interior features a two-tone design with exclusive embroidery. Exterior adds commemorative graphics and soft-top. Dimensions are 4705/1895/1936mm with a 2860mm wheelbase, 40° approach and 36° departure angles. The 185kW 2.0T engine pairs with an 8AT, part-time 4WD, optional diff locks and OFFROAD mode, blending rugged capability with modern tech.
Fang Cheng Bao "Magnesium 9" Spy Shots: 2026 Slip-back Electric Coupe with LiDAR
Fang Cheng Bao's first sedan, codenamed "Magnesium 9", is set for a 2026 launch. The coupe-style EV features a closed grille, oval headlights, slip-back roof and hidden handles, plus a roof-mounted LiDAR for advanced ADAS. Dual powertrains—pure electric and DMO PHEV—are expected, with an estimated price range of RMB 200-300k, positioning it against rivals like the Xiaomi SU7 and Zeekr 001 .
FAW Invests RMB 3.74 B for 5 % Stake in Leapmotor, Joint Overseas Model to Hit 2026
On 28 Dec, Leapmotor signed a subscription agreement with FAW Equity Investment, issuing 74.8 mln domestic shares at RMB 50.03 each—an 11 % premium—to raise RMB 3.74 bln. Half fuels R&D, 25 % supports operations and 25 % expands sales network. FAW will hold 5 % equity; their first co-developed overseas model is scheduled for mass production and export in H2 2026.
4
Baojun Huajing S to Launch in H1 2026 with Standard Huawei ADS 4 Pro
The Baojun Huajing S, a six-seat full-size SUV co-developed with Huawei on the Tianyu L architecture, will hit the market in H1 2026. Standard Huawei ADS 4 Pro, HarmonySpace 5 cockpit and IVCS cloud services, plus in-cabin LiDAR vision Limera, deliver L2+ autonomy and seamless connectivity. Signature halo lighting and trapezoid grille remain, with subtle refinements for a more premium stance.
5
All-new Audi Q5L set for Jan 15 launch on PPC platform with Huawei ADS
The next-gen Audi Q5L will likely debut on 15 January, priced RMB 313-385k in pre-sales. Built on Audi’s new PPC premium combustion platform, it brings full exterior/interior/powertrain upgrades and debuts Huawei ADAS. Star-matrix HD matrix lamps offer 16-segment high-beam control, while blacked-out honeycomb grille and five color options underscore its sporty premium positioning.
6
2026 Xpeng P7+ Global Launch: 725 km EV & 1 550 km EREV Range with 104 Upgrades
The 2026 Xpeng P7+ debuts globally: 5 071 mm long, 3 000 mm wheelbase, 725 km EV range and 1 550 km EREV. 104 enhancements plus 36 % core-component refresh; seamless LED DRL, active grille, body-color rear bumper and AD indicator lamp finalize its smart sport-sedan credentials for 36 markets.
Copyright © RUNTO TECH LIMITED. All rights reserved.