Author: Central Desk
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Hyundai AutoEver Corp, Hyundai Motor Group’s software arm, has launched a dedicated cybersecurity division to protect the automotive sector against rising threats to connected cars and future mobility. The South Korean software provider announced on Monday it expanded its information security center into a new division with about 200 professionals, led by Chief Information Security Officer Choi Won-Hyuk. Choi, a privacy and security expert with over two decades of experience, joined Hyundai AutoEver from Naver Corp in July. “Hacking attacks using artificial intelligence are on the rise,” Choi stated. “We aim to provide customers with world-class security service including the…
Mercedes-Benz dealers in South Korea have reportedly been trained by the company’s local unit to inform customers that their electric vehicles (EVs) use battery cells exclusively from CATL, a Chinese manufacturer. The focus on EV battery suppliers gained attention after a fire involving a Mercedes-Benz EV destroyed an underground parking garage in Incheon, west of Seoul, in August, damaging over 100 vehicles. The battery cells in the vehicle were found to be from Farasis Energy, another Chinese firm ranked around 10th globally. Training materials for dealers included guidance on addressing customer concerns about Chinese-made batteries. Sample responses emphasized CATL as…
The US EV sales are showing a strong recovery, boosted by government incentives and growing consumer interest. Despite challenging market conditions, the second quarter of 2024 saw 386,221 EV registrations — marking a 9% increase compared to the same period last year, according to the Alliance for Automotive Innovation’s Electric Vehicle Quarterly Report. One of the major driving forces behind this surge has been the Inflation Reduction Act (IRA). Since its implementation, over 300,000 clean vehicles have benefited from upfront discounts through federal tax credits. The Department of the Treasury and the IRS announced on Tuesday that these incentives have…
German carmakers expressed alarm on Saturday, warning that the European Union’s recent decision to impose punitive tariffs on Chinese electric vehicles could lead to higher costs for consumers and potentially damage Germany’s automotive industry. Thomas Peckruhn from the German Association of Motor Vehicle Trades (ZdK) voiced concern that the EU’s tariffs of up to 35.3% on battery-powered electric vehicles from China could come into effect as soon as early November, unless a compromise is reached between Brussels and Beijing. Germany voted against these tariffs, with Peckruhn noting that such measures could adversely affect business confidence. “Punitive tariffs are not a…
The Global Small Electric Vehicles Market (SEVs) is witnessing significant growth, indicating a global shift towards sustainable transportation. Valued at $16.5 billion in 2023, the SEV market is projected to reach $68.65 billion by 2030, growing at a compound annual growth rate (CAGR) of 22.59%. This growth is driven by increasing environmental awareness, government incentives, and technological advancements in electric vehicles. The broader electric vehicle market is also on the rise, with over 10 million electric vehicles sold globally in 2022. By 2030, projections suggest there will be nearly 250 million electric vehicles on the road, accounting for more than…
Los Angeles: The United Auto Workers (UAW) union announced that members at Stellantis’ Los Angeles parts distribution center voted to authorize a strike if the carmaker fails to address grievances over U.S. investments. This is expected to be one of several similar votes as the union puts pressure on Stellantis. UAW President Shawn Fain recently accused Stellantis of failing to honor product and investment commitments made during contract negotiations last autumn. In response, Stellantis filed a federal lawsuit, stating that the UAW violated the contract by threatening a strike over delays in planned investments. The company seeks to hold the…
Toyota has delayed its plans to begin manufacturing electric vehicles (EVs) in the United States, citing a slowdown in the global demand for battery-powered cars. Initially slated for late 2025 or early 2026, the Japanese automaker now expects to start production at an unspecified point in 2026, according to a company spokesperson. The decision comes amid a broader industry trend, with several major automakers, including Volvo and Ford, also scaling back their EV ambitions. Despite the delay, Toyota remains committed to its global target of producing 1.5 million battery electric vehicles by 2026. “We’re still focused on our global (battery…
Renault and SUEZ are expanding their partnership on recycling waste metal and recovering end-of-life vehicles, with new strategic agreements aimed at supporting the automotive sector’s ecological transition. Together, they aim to advance The Future Is NEUTRAL initiative, positioning it as a leader in the automotive circular economy. Renault Group CEO Luca de Meo said SUEZ’s investment in The Future Is NEUTRAL confirms the value of their model.Our joint investment will allow us to accelerate in order to provide an open circular economy platform that meets the needs of all players in the automotive industry, in growing activities. We are doing…
Toyota will invest $500 million in Joby Aviation, which is developing electric air taxis for commercial passenger use. This investment supports the certification and commercial production of Joby’s electric air taxis, moving forward the shared vision of both companies for sustainable air mobility. The investment, in two equal tranches, is subject to regulatory approvals, commercial agreements, and other conditions. It will increase Toyota’s total investment in Joby to $894 million. The first tranche is expected later this year, with the second in 2025. JoeBen Bevirt, founder and CEO of Joby Aviation, said, “Today’s investment builds on nearly seven years of…
U.S. East and Gulf Coast port workers commenced a strike early Tuesday, which seriously effecting automotive supply chain. These ports processed $37.8 billion in vehicle imports over the past year, and the strike now risks delaying the timely delivery of vehicles and crucial auto parts. Bill Long, CEO of the Motor & Equipment Manufacturers Association (MEMA), warned that a prolonged disruption could result in plant shutdowns and job losses, stating, “If it’s a lengthy strike… it’s going to be a disaster.” The strike follows the expiration of a labor contract between the International Longshoremen’s Association (ILA), which represents 45,000 port…