Author: Central Desk

Charting a strategic path, Indian automotive behemoth, Ashok Leyland, is set to extend a corporate guarantee cover of ₹870 crore, ensuring the financial stability of its two UK-based subsidiaries: Optare Plc. UK and Switch Mobility Limited, UK. The company emphasizes this initiative’s objective: to solely protect the lenders/banking facilities, underscoring that the promoters, promoter group, and group companies retain no vested interest in this transaction. The impact of this decision remains confined to the disbursed amount, the auto manufacturer articulated in a recent regulatory disclosure. This commitment follows the wake of Ashok Leyland’s commendable quarterly achievements. Reinforcing its domestic market…

Chinese automakers are driving a significant transformation in the country’s auto landscape, presenting significant challenges for global automotive behemoths, with companies like Tesla feeling the heat. Recent trends highlight the ascent of Chinese automakers as they steadily eclipse global mainstays like Ford and GM within their territory. Last month’s data suggests this dominance could see Chinese firms controlling the lion’s share of their car market this year. Of particular note is the surge in demand for electric vehicles, with an emphasis on homegrown brands. Data from the first half of 2023, as provided by Chinese advisory firm Automobility, paints a…

Schaeffler, a dominant force in the automotive and industrial sectors, announces a quantum leap for hydrogen-powered transportation: their next-generation metallic bipolar plates for PEM fuel cells. These plates surpass conventional standards, with a design primed for mass production and a cutting-edge coating process that assures fuel cell longevity. Highlighting a performance enhancement, these plates boast a power density that outperforms their predecessors by 20%. Matthias Zink, CEO of Automotive Technologies at Schaeffler AG, accentuates Schaeffler’s forward momentum: “When it comes to driving systems for commercial vehicles, Schaeffler is also investing in hydrogen, especially for long-haul applications. We are developing both…

For a strategic move to cement its position in the rapidly evolving electric vehicle conversion sector, TREMEC, a leading provider of Electric Vehicle (EV) Powertrain Systems and EV components and a subsidiary of KUO, has integrated Electric GT, Inc. a frontrunner in plug-and-play EV conversion systems. This amalgamation seeks to make TREMEC a global trailblazer in the ICE-to-BEV conversion marketplace. The collaboration births TREMEC – Electric GT, which establishes the heart of its operations at Electric GT’s base in Huntington Beach, CA. Here, the entity harnesses TREMEC’s vast global resources and aligns its strategies directly with TREMEC’s executive leadership. Around…

As global dynamics shape local markets, the automotive sector emerges as a pivotal barometer of economic growth and consumer sentiment. Two leading dealer groups in the U.S.—Swickard Auto Group and Spitzer Auto World—recently unveiled their ambitious expansion strategies, accentuating the buoyant state of the automotive industry. Swickard Brings Luxury to Texas Swickard Auto Group, boasting ownership of 42 franchises across the nation, has revealed ambitious plans to launch Mercedes-Benz South Austin by the close of 2023. Their objective? To usher luxury automotive experiences into the South Austin sphere. This avant-garde facility, sprawling across a staggering 80,000 square feet nestled on…

As the automotive world steers towards electrification and sustainability, luxury carmakers like Jaguar are not only following the trend but reinventing themselves in the process. With the 2023 model year coming to a close, Jaguar’s current lineup stands still, gearing up for the anticipated all-electric transition by 2025. First Glimpse at the Future Before 2023 bows out, Jaguar Land Rover (JLR) has teased the automotive community with a sneak peek at the first of its three all-new electric vehicles set to debut in 2025. Although JLR officials have shared tidbits of their vision for a reimagined Jaguar—aiming to rub shoulders…

Vietnam’s VinFast, a rising star in the electric vehicle (EV) arena, has experienced a roller coaster of valuation highs and challenges in scaling up its global operations. Despite the company’s ambitious goal to sell 50,000 EVs this year, only 16,000 cars have been sold so far. The newcomer has successfully wooed Wall Street, achieving a surprising valuation of over $85 billion in a Nasdaq listing. To put this into perspective, that’s nearly double the valuation of established automakers like Ford or General Motors. This valuation came to fruition even as the company hasn’t turned a profit yet. VinFast’s robust debut…

The formal agreement took place in Gurugram, Haryana, with notable representatives from both companies. Among them were Kim Eun-soo, Hyundai Motor India’s Executive Vice President for the Middle East & Africa Strategic Region, and Asif Khatri, GM India’s Vice President of Production. Kim emphasized the acquisition’s significance, stating, “By initiating full-scale operations at the Talegaon plant by 2025, Hyundai envisions creating a state-of-the-art manufacturing epicenter that will substantially bolster the Indian automotive sector.” This acquisition awaits regulatory approval from the Indian government. Once sanctioned, Hyundai Motor India will possess the land and assets of the Talegaon establishment. Hyundai’s endeavor aims…

German auto giant Mercedes-Benz has disconnected its Russian car dealers from vital servicing software, as reported by Russian newspaper Izvestia. MB RUS, the official distributor for Mercedes-Benz Russia, confirmed the loss of access to online software essential for vehicle maintenance. Given this development, the company stated vehicle repair and maintenance would pivot to rely on local “accumulated experience and expertise.” “Dealers are disconnected from the manufacturer’s online software systems, leading to potential extended repair times,” MB RUS told Izvestia. This move echoes concerns across Russia’s automotive sector. The Association of Russian Automobile Dealers highlighted similar software disruptions faced by other…

Typhoon Lan, expected to strike near Osaka on Tuesday, will be the second typhoon to hit Japan in just a week. Osaka, the country’s second-largest metropolitan area, and the central heavy industrial region are both poised in the typhoon’s path. This region, vital for its automobile factories, will face the brunt of the storm before it veers northward to Hokkaido. Toyota, Mitsubishi Motors, Honda, and Suzuki, however, have reported that their operations won’t be impacted by Typhoon Lan. They attribute this to the timely coincidence of the storm with their annual break, during which their manufacturing plants remain closed. Despite…