Author: Central Desk

China’s leading electric vehicle (EV) manufacturer, BYD, is embroiled in a tax evasion probe in India. The latest news suggests that BYD is attempting to navigate this crisis without exacerbating the already strained bilateral ties amid border disputes between New Delhi and Beijing. BYD has been under the microscope of India’s tax department for the past few months. India has thrust the automotive giant into crisis, armed with documents and evidence. The investigation was initiated following allegations that Chinese automakers did not pay enough tax on car parts imported for assembly in India. India’s Directorate of Revenue Intelligence (DRI) has…

Unwavering in its pledge to China’s immense automobile market, Kia Motors continues its strategic march forward. Even in the face of recent sales downturns, President Ho-sung Song projected a bullish confidence about the company’s potential in an interview with Yicai. Despite other automobile firms contracting their Chinese operations following underwhelming sales, Kia Motors continues to demonstrate an audacious stance. The Chinese market holds the title of the world’s largest, Song conveyed, reiterating that Kia cannot abandon such a potential-laden landscape. Electric vehicles (EVs) form a significant part of the Seoul-based company’s revitalized strategy. Aiming to debut six distinct electric models…

A game-changing announcement echoed across the corporate sector as Panasonic Holdings Corporation allied with Marubeni Corporation, for the joint venture, EVolity Corporation. Taking its place in the corporate landscape at its Chuo City, Tokyo headquarters, EVolity’s mission is to navigate the intricacies of commercial electric vehicle (EV) fleet management. Mr. Masaharu Amaike has been appointed as EVolity’s inaugural President and CEO. This summer, EVolity offers its services to large logistics enterprises, aiming to transform skepticism towards EV adoption into confident integration. Businesses contemplating a shift towards EVs will experience trial operations, unmasking the operational impact of such a transition. Alongside,…

Amid great fanfare, Aston Martin Kuala Lumpur unveiled its ultra-luxurious super tourer, the DB12. This significant launch commemorates two major milestones which include the 110th anniversary of this esteemed UK brand and the impressive 75th year of the DB model line. The DB12 sports a starting price of RM1,088,000, a figure that precedes the inclusion of duties, taxes, and the cost of bespoke options and customization. For the discerning buyer, Aston Martin introduces an extended warranty coverage of up to 20 years. For an annual RM16,000, owners can enjoy the unrivaled assurance and the flexibility of transferring the remaining warranty…

Initiated by Hon Hai Precision Industry Co. Ltd., better known as Foxconn, the Mobility in Harmony (MIH) Consortium, has enlisted BlackBerry’s expertise for a robust foundation for its innovative electric vehicle (EV) platform. MIH, with its dedication to fostering an expansive, unbiased ecosystem, promotes rapid innovation within the electric vehicle sector. BlackBerry’s selection came as a result of its prowess in offering secure software solutions compatible with MIH’s open and technology-neutral EV vision. By utilizing BlackBerry’s diverse software and service offerings, MIH intends to craft a secure foundation for its uniquely designed, open, and technology-neutral electric vehicle structure. One of…

Promising a significant leap forward in the realm of autonomous driving, Horizon Robotics, renowned for its energy-efficient computing solutions for advanced driver assist systems (ADAS), and Wind River, an international trailblazer in software for mission-critical intelligent systems, unveiled a strategic alliance aimed at advancing the frontier of smart driving solutions. The partnership is a transformative event for China’s auto industry. The integration of Horizon’s Journey series computing solutions with Wind River’s cloud-to-edge portfolio yields a comprehensive ADAS hardware/software package. This streamlined solution promises to expedite development and integration, thereby slashing time-to-market and curbing costs – a decisive boon for original…

India’s leading exporter of motorcycles and three-wheelers, Bajaj Auto is launching its first overseas manufacturing center in Brazil as a stepping stone towards global expansion. Rakesh Sharma, the Executive Director, elucidates that establishing a local foothold within Brazil’s borders provides a gateway to a trove of insights on product evolution and customer tendencies. This strategic venture aims to solidify Bajaj Auto’s presence throughout Latin America, fostering growth and fueling innovation. With operations spread across over 90 countries, Bajaj Auto has remained a firm believer in the distribution-led model, entrusting local operations and assembly to distribution partners. Despite this, the labyrinthine…

The unprecedented boom in the electric vehicle (EV) market has fueled fierce competition among leading automakers in the rapidly evolving EV truck market. Tesla, Ford, and GMC are vying to dominate this fast-growing sector. In a significant development that further stokes the competition, Tesla has kick-started mass production of its highly anticipated Cybertruck at its Gigafactory in Austin, Texas. The competitive temperature in the EV truck sector started to rise when Tesla unveiled its ambitious foray into this arena three years ago. Tesla’s move follows the path blazed by industry behemoths Ford, GMC, and RAM who have already introduced their…

Germany’s automotive industry is grappling with dwindling confidence among its suppliers, amidst an electromobility shift to increasing offshoring trends by leading automakers. The change is raising apprehensions around job security for thousands of workers, particularly those specializing in the traditional internal combustion engine sector. Earlier in July, the global electronics behemoth Bosch took a protective stance by vowing no forced redundancies for its 80,000-strong German workforce until the end of 2027. This situation underscores the emerging unease within the sector. The simplicity of electric vehicles (EVs), with significantly fewer parts compared to combustion engines, catalyzes fears of potential job losses.…

Asserting an ambitious plan for India to be a central figure in the global chip supply chain, Prime Minister Narendra Modi called on the global semiconductor industry to view India not only as a trustworthy player but also as a resource-rich frontier brimming with potential. During the second edition of the SemiconIndia global summit, which drew senior executives from more than 50 semiconductor and electronics powerhouses, PM Modi communicated a compelling case for India’s prominence in the sector. This event witnessed an array of commitments for significant capital inflow into India’s flourishing semiconductor landscape from influential organizations including AMD, Micron…