Author: Central Desk

Toyota, the world’s largest automaker, has announced plans to invest USD 338 million in a new hybrid flex car manufacturing plant in Brazil. The plant will be located in Sorocaba, Sao Paulo and is expected to produce approximately 50,000 vehicles per year. This investment will further Toyota’s commitment to producing eco-friendly vehicles and reducing its carbon footprint. The new hybrid flex car will run on both gasoline and ethanol, making it a more sustainable and environmentally friendly option for consumers. The vehicle will also meet the strict emissions standards set by the Brazilian government. Toyota’s move to invest in Brazil…

The Russian government has approved the sale of Volkswagen’s plant in Kaluga to a local company, according to recent reports. The plant, which has been in operation since 2007, has been producing Volkswagen cars for the Russian market. The sale will mark Volkswagen’s exit from the country after more than a decade of operations. The local company that has acquired the plant is reportedly one of Russia’s leading car manufacturers, with a strong presence in the domestic market. The company plans to use the plant to produce its own line of vehicles, as well as continue producing Volkswagen cars under…

Lumi, the Saudi Arabian car rental firm, has enlisted corporate finance consultants to assist with its upcoming public listing. Declared in December of the previous year, Lumi aims to go public to finance its expansion goals. The company submitted its request to the Saudi Arabia Capital Market Authority (CMA) and, earlier this month, obtained approval for its initial public offering (IPO) on the Tadawul exchange, Saudi Arabia’s primary stock market. Although the exact date of Lumi’s debut on the exchange remains undisclosed, it is known that companies with CMA approval have a six-month window to initiate their public share sale.…

According to recent reports, petrol cars continue to dominate the streets in India in the fiscal year 2022-23. Despite the growing popularity of electric vehicles, the conventional fuel vehicles still account for the majority of car sales in the country. In the fiscal year 2022-23, the total sales of petrol cars in India reached a staggering figure of over 15 million units, which is approximately 80% of the total car sales in the country. This indicates that the consumers in India still have a strong preference for petrol cars over electric vehicles. One of the major reasons for this trend…

Jaguar Land Rover (JLR) has announced a new brand identity for its iconic Range Rover, Discovery, Defender, and Jaguar vehicles, aiming to streamline its brands and strengthen its market position. The rebranding effort comes as the automaker continues to evolve and adapt to the rapidly changing automotive landscape. The new identity focuses on the unique characteristics of each vehicle while also emphasizing the unity of the JLR family. It aims to create a distinct and cohesive brand image that effectively communicates the company’s values and commitment to producing high-quality vehicles for a wide range of customers. The rebranding initiative is…

Volkswagen (VW) has recently unveiled plans to build a $7 billion battery plant in Canada, making it the largest automotive investment in the nation’s history. The groundbreaking facility is expected to play a critical role in the production of electric vehicles (EVs) and contribute to Canada’s growing green economy. The battery plant is set to be built in the province of Ontario, a region known for its strong automotive industry presence. As global demand for EVs continues to rise, the facility will support the production of next-generation batteries that are essential for the widespread adoption of electric vehicles. The project…

The case revolved around a Tesla Model S that crashed into a fire truck in 2018 while the vehicle’s Autopilot system was engaged. The driver sued Tesla, alleging that the Autopilot system was defective and that the company failed to provide sufficient warnings about its limitations. However, the court ruled in favor of Tesla, stating that the driver was aware of the system’s limitations and should have been paying attention to the road. This ruling comes at a crucial time for Tesla and the broader autonomous driving industry. Autonomous vehicle technology has been under the spotlight in recent years, with…

Germany’s push for electric vehicle (EV) adoption continues to gain momentum, with the country’s charging infrastructure expanding significantly in 2022. According to recent reports, Germany added 35% more EV charge points in 2022, a development that highlights the nation’s commitment to supporting the growing demand for clean and sustainable transportation. This expansion of charging infrastructure is a crucial element in Germany’s efforts to encourage EV adoption and reduce greenhouse gas emissions. The increased availability of charging points not only makes EV ownership more convenient but also helps alleviate concerns around range anxiety, which has been a significant barrier to wider…

The automotive industry is increasingly venturing into the metaverse, a virtual universe where people can interact with digital objects and environments, to reinvent customer engagement and tap into new opportunities. Virtual car experiences are a prime example of how automakers are capitalizing on this digital realm to create immersive, interactive experiences for consumers. One of the main reasons for the industry’s excitement is the potential for virtual showrooms and test drives. These digital experiences allow customers to explore vehicle features, customize their cars, and even take them for a virtual spin, all from the comfort of their own homes. This…

The metaverse, a virtual world where people can interact with each other and digital objects, is transforming the mobility sector, providing unprecedented opportunities for growth and innovation. As the automotive industry adapts to this new digital realm, it is poised to unlock new revenue streams and enhance customer experience. According to a recent report by McKinsey & Company, the metaverse offers significant potential for value creation in the mobility sector. The report highlights four key areas where the automotive industry can leverage the metaverse to drive growth: digital goods and services, vehicle usage, marketing and sales, and new business models.…