Author: Central Desk

Expanding its electric vehicle (EV) portfolio, Mercedes-Benz unveiled the EQE SUV in India, priced at a starting Rs 1.39 crore. This introduction is the third EV from the luxury automaker in the Indian market, following the EQB SUV and EQS sedan. The EQE 500 4Matic SUV, constructed on the Mercedes-Benz EVA platform, aligns with the global EQE sedan model. It derives power from a 90.6kWh lithium-ion battery pack, producing a potent 300kW (402bhp) and an impressive torque output of 858Nm. The vehicle is capable of reaching a maximum speed of 210kmph and can sprint from 0 to 100kmph in a…

US stocks experienced a downturn on Friday, as enthusiasm for tech stocks waned due to a historic strike within the US auto sector. Despite this setback, Asian and European stock markets were bolstered by encouraging economic data from China. The tech-influenced Nasdaq closed with a 1.6 percent decrease, while the Dow Jones Industrial Average and the S&P 500 also saw declines. This downturn was a result of traders assessing the repercussions of a strike initiated by the United Auto Workers (UAW) union at three major auto manufacturers, Ford, General Motors (GM), and Stellantis, following unsuccessful pay negotiations. Patrick O’Hare, a…

Taking a step forward towards a more sustainable mode of transport, North Northamptonshire Council has augmented its electric vehicle (EV) charging network by incorporating 32 new EV points across 17 different locations. This development, executed in conjunction with Believ, the UK’s rapidly growing EV charge point operator (CPO), is part of an ongoing initiative to provide accessible public chargers for residents lacking driveways or off-road parking. These newly installed charge points are anticipated to become functional in the forthcoming weeks. This new addition complements the 22 existing charge points located at 12 different sites, previously installed through a collaborative effort…

Global intelligent power management leader, Eaton, partnered with Michigan technology developer, Traxen, to distribute and support the installation of the groundbreaking iQ-Cruise system. This strategic alliance aims to enhance the commercial transportation sector by boosting fuel efficiency, environmental sustainability, and fleet profitability. Unlike conventional adaptive or predictive cruise control systems that operate independently, the iQ-Cruise system combines both functionalities into one device, utilizing artificial intelligence (AI) to enable automatic, natural speed control and significant fuel savings. This innovative system is compatible with automated manual transmissions, including the Eaton Cummins Automated Transmission Technologies portfolio. A monthly subscription fee covers all hardware,…

China has labeled the European Union (EU) as protectionist following its decision to investigate Chinese electric vehicle (EV) exports and subsidies. The Commerce Ministry of China decried the move as a ‘protectionist’ act with the potential to distort the global supply chain. On Wednesday, the EU disclosed its intentions to probe government subsidies provided to Chinese automakers, alleging that these subsidies artificially deflate EV prices. After investing billions in subsidies, China has ascended as the premier market for electric vehicles. This substantial investment enabled automakers such as BYD and Geely to rapidly expand their market share post-launch of EV sales…

Daimler Truck AG, along with its Japanese subsidiary Mitsubishi Fuso Bus and Truck Corporation, has commenced the handover of its pioneering next-generation Fuso eCanter to Yamato Transport Co., marking the beginning of the delivery of approximately 900 eCanters ordered by the company. This development represents the largest individual order for Fuso’s electric light-duty truck. Yamato Transport is undertaking this initiative as part of its commitment to significantly decrease its environmental impact by aiming for a 48% cut in greenhouse gas emissions by 2030, relative to 2020 levels, and striving for virtually no greenhouse gas emissions by 2050. The company will…

Leading auto manufacturers BMW, Ford, and Honda disclosed their agreement to form ChargeScape, a joint venture owned equally by all parties. ChargeScape is poised to transform the electric vehicle (EV) sector by developing a unified platform connecting electric utilities, automakers, and EV users, thus enabling financial benefits from a range of managed charging and energy-sharing services. This innovative step not only provides financial incentives to EV owners but also significantly aids the electric utility industry in the U.S. and Canada. Subject to regulatory approvals, ChargeScape is slated to start operations early next year. The launch of ChargeScape’s unified platform obviates…

Global data analytics and consumer intelligence leader, J.D. Power, announced its strategic expansion into the European and Australian auto markets with the acquisition of Autovista Group, a prominent provider of automotive data, analytics, and insights. The transaction, slated for completion by year-end, will see ownership of Autovista transferred from Hayfin Capital Management to J.D. Power. This pivotal acquisition will facilitate the amalgamation of J.D. Power’s predictive analytics, valuation, and customer experience data sets with the market intelligence provided by Autovista in Europe and Australia. While J.D. Power has previously undertaken automotive and banking studies in these territories, this move signifies…

The Ontario government recently completed a fruitful business mission to Germany and Switzerland, with the objective of attracting investments and solidifying ties with economic counterparts in the Ontario auto Industry. The mission involved marketing Ontario’s automotive supply chain and innovative solutions at IAA Mobility, the premier global event for the mobility sector, encompassing both the automotive and transportation industries. Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, emphasized the critical importance of presenting Ontario’s burgeoning automotive supply chain on an international stage and consistently advocating for the province to global enterprises. “Missions like this have helped Ontario…

A significant global restructuring is taking place within the automotive industry, as revealed by a Capgemini Research Institute (CRI) report. The document shows a notable 22% decline in offshore procurement over the past two years, a trend spearheaded by Europe, which has cut its offshore sourcing by a quarter since 2021. This is followed by the Asia Pacific (APAC) and the US, with reductions of 20% and 18%, respectively. The report predicts a further 19% decrease in offshoring procurement by 2025, driven by the rise in electric vehicle production and the relocation of key electronics component fabrication. The successive supply…