Author: Central Desk

Mitsubishi China Market: Contrary to swirling rumors, Mitsubishi Motors confirmed its steadfast commitment to the Chinese market despite plummeting sales, amidst intensifying competition in the auto sector. CEO Takao Kato clarified at a recent press conference, “We are yet to make a decision about exiting the market, but it’s undeniable that we need a robust strategy to navigate the challenges in China.” In March, production was halted at Mitsubishi’s plant in Changsha, Hunan province, sparking speculation about the firm’s future in China. These conjectures escalated when their joint venture partner, Guangzhou Automobile Group (GAC), excluded Mitsubishi’s sales data in their…

UVeye, an Israeli vehicle inspection tech firm, has raised $100 million in a Series D funding round, with the intent to bolster its expansion and manufacturing initiatives in the North American market. The funding round, led by Hanaco VC, will also aid in boosting sales growth in the U.S., and support the company’s efforts in breaking into new markets. Hanaco VC, a venture-capital firm with $1.5 billion in assets under management, made the lead investment. The firm has a track record of investing in mobility-focused companies such as Moovit and Via Transportation. Other participants in the round were existing investors…

Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated (NASDAQ: QCOM), has announced plans to acquire Autotalks, an Israel-based semiconductor company, in a deal reportedly worth between $350-400 million. The acquisition will strengthen Qualcomm’s Snapdragon® Digital Chassis offering by incorporating Autotalks’ vehicle-to-everything (V2X) communication technologies, which are critical for automotive safety systems. As the automotive industry experiences rapid digital transformation, connectivity has become a key factor in enabling next-generation software-defined vehicles. Autotalks, founded in 2009, specializes in automotive qualified dual-mode global V2X solutions designed to reduce collisions and improve mobility. The collaboration between Qualcomm’s automotive industry experience and Autotalks’ expertise and…

A recent report suggests that the Indian government is considering a proposal to ban diesel cars in major cities across the country by 2027. The recommendation comes from a government panel tasked with devising a plan to reduce air pollution and greenhouse gas emissions in urban areas. According to the panel’s report, the proposed ban aims to promote the use of cleaner fuels and encourage the adoption of electric vehicles (EVs) in India. If implemented, the ban would affect cars that run exclusively on diesel, while those that use petrol or other alternative fuels would not be affected. The ban…

Skoda Auto a.s., often shortened to Skoda, is a Czech automobile manufacturer established in 1925 as the successor to Laurin & Klement and headquartered in Mladá Boleslav, Czech Republic. Skoda Works became state-owned in 1948. ŠKODA cars are made from China, Russia, Slovakia and India. India, now is on track to become an export hub for Skoda Auto, as it prepares to begin exporting vehicle kits for assembly in Vietnam from next year. Volkswagen, Skoda Auto’s parent company, is already exporting vehicles from India to Mexico and South Africa, while Skoda Auto exports to the Middle East and North Africa.…

Bajaj Auto, India’s third-largest two-wheeler manufacturer, is set to accelerate its growth this year with fresh launches and expansion after closing FY23 with record profit margins. The company is preparing for the imminent debut of its electric three-wheeler while simultaneously launching its first mini Triumph motorcycle in June. Rakesh Sharma, Executive Director of Bajaj Auto, revealed that the company is awaiting FAME certification for the electric three-wheelers, which are already under production. Bajaj Auto has completed field testing and is on schedule for a limited launch of both passenger and cargo versions. Six years after announcing their partnership, Bajaj Auto…

Volkswagen’s software division, Cariad, finds itself at the center of a brewing storm as the automaker struggles to keep up with industry giants Tesla and Chinese manufacturers in the race for autonomous vehicle technology. Created in 2020, Cariad aimed to bundle together Volkswagen Group’s software competencies and build a unified software platform for all of the Group’s brands. However, the division has failed to meet expectations, facing constant delays, skyrocketing costs, and suffering a $2 billion loss in 2022. The software debacle led to the replacement of former Volkswagen Group CEO Herbert Diess, with new CEO Oliver Blume now under…

German car sales witnessed a strong uptick in April, as official figures showed a recovery in the industry from supply chain difficulties. A total of 202,947 new cars were registered in Germany last month, reflecting a 12.6% increase compared to the same period last year. The data, provided by the KBA federal transport authority, highlights a sustained upward trend after a 16.6% improvement in March and a 2.8% rise in February. EY analyst Peter Fuss attributed the growth to a “sustained upswing” after a restrained start to the year. He noted that the semiconductor shortage that had slowed down production…

China’s Hozon Auto is set to establish a strong foothold in the burgeoning Southeast Asian electric vehicle (EV) market by starting production in Thailand. The Shanghai-based firm aims to tap into the region’s growing demand for environmentally friendly transportation alternatives, fueling competition in the already heated EV market. Hozon Auto, a renowned manufacturer of intelligent electric vehicles, has announced plans to build a production facility in Thailand, in line with the country’s expanding EV supply chain. The move not only supports the regional EV race, but also places Thailand on the map as an emerging production hub for electric vehicles.…

South Korean automotive manufacturer SJM Flex has taken a significant step in Morocco’s thriving automotive industry by inaugurating a new 4,800 square meter plant in Tanger Automotive City. The opening ceremony saw officials from SJM and Tanger Med Group in attendance, celebrating the investment of MAD 90 million ($9 million) into the project. The new plant is expected to create 250 jobs, with 60 hires in the first phase. By 2025, SJM Flex plans to expand its workforce further to support the burgeoning electric vehicle (EV) market. Ahmed Aoulad Dfouf, the company’s director, expressed the group’s desire to continue investing…