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Chery boss questions future of car ownership amid rise of robotaxis

Chery’s international boss has questioned whether most people will still want to own a car in 10 years, as robotaxis become a bigger part of the Chinese automaker’s plans. Speaking to Australian media, including CarExpert, in Wuhu, Chery International president Zhang Guibing was asked where he wanted the company to be in Australia in a decade. “We are thinking now, we are even forecasting, maybe 10 years later, how many people will buy a car? Because now the robotaxi's developing very quickly,” Mr Zhang said. “So really, maybe at that time, most of the people won’t like to buy the car, won’t like to own the car.” The question reaches well beyond which brands survive the current wave of competition. If more people choose an on-demand ride over ownership, car companies will have to sell more vehicles to fleet operators, run transport services themselves, or find other ways to replace lost…

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More in Makers and Brands

Full steam ahead for Xpeng as it expands network, lineup and resolves open TrueEV cases

Xpeng Motors Australia is set to end 2026 with 66 retail locations in Australia through which it’ll offer three models, as the Chinese brand grows its local presence under a factory-backed operation. By the end of this year, it’ll have 66 sites across every state and territory, with the L03 mid-size electrified SUV set to arrive in showrooms before year’s end as the brand’s third model here. Xpeng's G9L large flagship SUV (for now) will follow it on sale early in 2027, with pricing yet to be announced. Also due to arrive in 2027 is the even larger GX electrified SUV. After the brand was launched here in late 2024 by independent Australian distributor TrueEV with the G6 mid-size electric SUV – a partnership that ended in acrimony and a Federal Court battle – Xpeng Motors Australia (Xpeng ANZ) has been busily growing its lineup. An updated G6 arrived earlier this year, followed by the X9…

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More in Models and Releases

Albemarle Upgrade: Can Energy Storage Recharge Lithium’s Leader?

Interested in Albemarle Corporation? Here are five stocks we like better. Mizuho upgraded Albemarle to Outperform with a $130 price target, citing stronger demand for battery energy storage systems. Higher lithium price forecasts and potentially tighter supplies could support Albemarle's earnings recovery through 2027 and 2028. Albemarle shares remain under pressure despite bullish analyst sentiment, making the company's Nov. 4 earnings report an important catalyst. Commodity stocks are expected to be strong performers. But it's been a rough year for lithium stocks. Albemarle Corp. (NYSE: ALB) is down over 33% in 2026, but it just got a bullish spark. On Oct. 14, Mizuho's John Roberts upgraded the lithium giant to Outperform from Neutral. The analyst believes that lithium's demand story is about to take a bullish turn. Roberts gave ALB a $130 price target, implying a gain of more than…

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More in Electric and Future

Lexus Puts a Price Tag on the 2027 RZ in the States, Here’s How Much the EV Costs

Having hit the assembly line in 2023, the Lexus RZ has now reached the 2027 model year in the United States of America, where it comes directly from the Motomachi facility in Japan, where it is being put together for markets worldwide. The electric crossover, which shares its e-TNGA platform with the Toyota bZ4X / bZ, as well as the Subaru Solterra, C-HR, Subaru U... (continue reading...) Lexus Puts a Price Tag on the 2027 RZ in the States, Here’s How Much the EV Costs The electric crossover, which shares its e-TNGA platform with the Toyota bZ4X / bZ, as well as the Subaru Solterra, C-HR, Subaru Uncharted, and others, will officially arrive at dealers early next year for the 2027 MY, which is offered with three distinct powertrains, the 350e FWD, the 450e AWD, and the 550e F Sport AWD. Pricing officially kicks off at $47,495, including the $1,395 delivery, processing, and handling fee…

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More in Buying and Ownership

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