Author: Central Desk

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…

The maiden motorcycle from the Hero-Harley alliance, the Harley-Davidson X 440, is slated for a July 4, 2023 launch in India, carving a new trajectory for the traditionally cruiser-focused Harley-Davidson. Unveiling the production-ready images of the X 440, Harley-Davidson confirmed that the motorcycle eschews the traditional laid-back cruiser aesthetic. Instead, it adopts a cooler, roadster style reminiscent of the Royal Enfield Interceptor 650 and Harley’s XR-1200. Its old-school charm blends with contemporary features, creating an appealing mix for modern riders. The X 440 boasts impressive ergonomics with a flat handlebar, neutral footpeg positions, and a scooped-out seat ensuring an upright…

The Citroen My Ami Buggy II, the newest member of the Citroen EV family, is expanding production due to high demand. This upgraded, beach-ready version of its popular predecessor, the Ami Buggy EV, is expected to challenge the EV market with its affordability and unique design. With a starting price of $11,300, the Citroen My Ami Buggy II comes with a 5.5 kWh battery that offers a range of 43 miles and a top speed of 28 mph. Its no-door and retractable roof design set it apart from other EVs. Instead, it features door bars, zip-up transparent covers, and a…

In a surprising turn, Lotus and Renault’s Alpine have mutually agreed to cease their collaboration on an electric sports car project. The proposed replacement for the Alpine A110 sports coupe, initially announced in 2021, will no longer be co-developed by the two companies, as confirmed by Lotus in an official statement on Monday. Renault had initially partnered with Lotus to create an electric platform for the successor to the A110, which was expected to debut by 2027. However, recent reports suggest Renault may opt to use its own technology for future Alpine models instead of working in partnership with Lotus.…

A coalition of eight European Union nations, comprising of France, Italy, Romania, Bulgaria, Poland, Hungary, Slovakia, and the Czech Republic, have raised concerns over the stringent EU emission regulations set to take effect in 2025. This group, accounting for nearly one-third of the EU’s 27 members, believes the forthcoming Euro 7 regulations are unattainable and have challenged the laws in a collective statement. The joint paper opposes any fresh exhaust emission rules and the introduction of new testing requirements for cars and vans. This coalition’s collective voting power could potentially block the proposal, as reported by Reuters. This isn’t the…