Author: Central Desk

Surprisingly, South Korean automaker Kia has announced its ambition to launch a mid-size pickup truck in Australia come 2025. This newcomer is set to compete against prominent market favorites including the Toyota HiLux and Ford Ranger. The announcement, as reported by the Australian publication, Drive, was disclosed during a confidential gathering with dealers. While Kia hasn’t yet confirmed whether this new model will make its way to the U.S. market, the potential to stand toe-to-toe with the Ford Ranger in worldwide markets is clear. Kia’s new pickup, currently identified by the internal model code “TK”, is said to boast a…

Tesla CEO, Elon Musk, reaffirmed the importance of strong ties with China during his first visit since the onset of the pandemic, echoing sentiments of Apple’s Tim Cook, Mercedes’ Ola Kallenius, and other tech and auto industry leaders. Meeting with Foreign Minister Qin Gang on Tuesday, Musk emphasized the intertwined interests of China and the U.S. According to a government statement, Musk opposes any decoupling from China, expressing Tesla’s willingness to continue its expansion within the country. These comments mirror last month’s statement from Mercedes’ Kallenius, who deemed unbundling from China “an illusion,” and Apple’s Cook underlining the symbiotic nature…

France’s first electric vehicle (EV) battery plant was inaugurated near Lens, marking the dawn of a new era in the country’s industrial history and a significant stride in President Emmanuel Macron’s ambitious “reindustrialisation” plan. The grand opening, attended by three government ministers and numerous local officials, highlighted the plant’s strategic importance. Operated by the Automotive Cell Company (ACC), a joint venture between TotalEnergies, Stellantis (Jeep manufacturer), and Mercedes-Benz, the facility is the country’s first salvo in challenging China’s dominance in the EV battery sector. The ACC plant was established with a €1.3bn state aid package from France, Germany, and Italy…

Amidst the disruptions caused by the global semiconductor shortage and supply chain challenges, 2023 is set to be a year of considerable evolution for the auto industry. The sector is poised to overcome obstacles and press forward with accelerated advancements in semi-autonomous features, the improvement of electric vehicle quality, and a massive shift in in-cabin experiences. While autonomous driving and electric vehicles (EVs) continue to be the talk of the industry, the most significant change predicted for this year lies within the car’s interior. As consumers become increasingly accustomed to the smart-device experience in their homes and on mobile phones,…

Indian automotive powerhouse, Mahindra & Mahindra (M&M), has declared an escalation in their capital expenditure (capex) for the FY22-FY24 investment cycle, now pegged at $2.12 billion, marking a substantial surge from the previous allotment of $2.01 billion. This amplification of investment embraces their auto, farm, and EV enterprises, alongside Group company investments and partnerships. Mahindra has amped up investment in its automotive ICE (Internal Combustion Engine) business by 20% to $1.27 billion from the initial $1.06 billion. The capex for its electric vehicle (EV) subsidiary, Mahindra Electric Automobile Limited (MEAL), has seen a striking 54% augmentation to $427 million, an…

Seeking to revive Brazil’s languishing auto sector, President Luiz Inacio Lula da Silva has introduced a range of tax cuts, specifically designed to enhance the affordability of low-cost vehicles for the country’s working-class population. On Thursday, the government unveiled a tax reduction plan for vehicles priced at 120,000 reais ($23,875) or less. It is anticipated that this initiative could decrease the sticker prices on some cars by almost 11%. “The reduction will primarily benefit the social aspect, focusing on affordable cars rather than luxury vehicles,” said Vice President Geraldo Alckmin during the announcement at the presidential palace in Brasilia. This…

Hyundai Motor Group and LG Energy Solution have revealed plans to construct a new electric battery plant worth $4.3 billion as part of Hyundai’s forthcoming electric vehicle assembly plant in southeast Georgia. This joint investment will be split evenly between the two companies, with production set to commence by late 2025. The battery plant aims to provide a robust foundation for Hyundai’s global transition to electric vehicles and accelerate the production of electrified Hyundai and Kia vehicles in North America. Hyundai Motor Co. CEO Jaehoon Chang expressed confidence in their electrification efforts, emphasizing the company’s determination to secure a leading…

Europe’s auto giants pivot towards sustainable methods, striving to cut emissions in all operational areas With the EU’s ambitious goal of complete carbon neutrality by 2050, automakers across the continent are racing to reduce emissions from their entire value chain. This challenge requires a shift in operations, ranging from the suppliers to production, and covering the entire vehicle life cycle. Toyota Aiming for Carbon Neutrality by 2040 in Europe, Ahead of Global Goals Pioneering a green strategy with a focus on reducing in-house emissions and increasing sustainable energy use Toyota is setting the pace, aiming to achieve carbon neutrality in…

This year’s IAA auto show in Munich will feature only one Stellantis brand: Opel. The show, running from September 5-10, will not see the participation of Stellantis’ other 13 brands, including prominent names such as Peugeot, Citroen, Fiat, and Jeep. A Stellantis spokesperson confirmed to Automobilwoche, Automotive News Europe’s sister publication, that “No other Stellantis brand except Opel will be represented at the IAA.” Opel is seizing this opportunity to underscore its transition towards electrification, with a plan to transition into an all-electric brand by 2028. Two new models will be showcased at the event, including the Astra Sports Tourer…

China’s Ministry of Commerce announced on Thursday its plans to implement further measures aimed at encouraging vehicle exports, emphasizing on improving vehicle quality and fostering cooperation between auto producers and financial institutions both domestically and internationally. This move follows China’s recent rise to the largest auto exporter globally in the first quarter of this year, overtaking long-standing leader Japan. Data from the China Passenger Car Association revealed that China exported 1.069 million vehicles in Q1 2023, marking a significant 54 percent YoY growth. Japan’s vehicle exports trailed behind at 1.047 million within the same timeframe, illustrating a historical shift in…