Author: Central Desk

A landmark agreement between Indian car manufacturers and their UK counterparts is set to redefine the automobile trade landscape. The deal, which proposes the elimination of import taxes on a limited number of vehicles, promises to unlock the vast potential of India’s booming automobile market—the third-largest globally, as per a Reuters report. India’s current import tax structure, with rates soaring between 70 and 100 percent, has long been a formidable barrier for global automakers. In a significant shift, these rates are proposed to be scaled back to 10 percent over a five-year period on a maximum of 46,200 vehicles. This…

In the race for supremacy in electric vehicle (EV) battery production, China has taken a commanding lead, establishing control over crucial steps, from mining to manufacturing. The nation’s strategic investments and policy measures have created an industrial powerhouse, leaving the rest of the world playing catch-up. For decades, global economies have been vying to lead the electric vehicle revolution, aware of the economic and geopolitical advantages. China, however, has outpaced everyone, amassing control over the extraction of rare minerals essential for EV batteries, such as cobalt and lithium. While China does not possess abundant reserves of these minerals, its long-term…

After meeting with French President Emmanuel Macron, Elon Musk hinted at substantial future investments in France. This promising development is a part of Macron’s long-term strategy to rebrand France as a global hub for business and industry, particularly in the automotive sector. Musk, despite having partied in Los Angeles and Cabo, Mexico, just hours before his arrival, was welcomed with open arms. The billionaire’s visit included a meeting with French finance minister Bruno Le Maire and dinner at the “Choose France” summit in the Palace of Versailles, attended by 200 other business executives. Macron’s campaign to attract executives and transform…

In a major move, Ferrari has recalled 425 of its hybrid models, the 296 GTB and 296 GTS, amidst concerns of potential fuel leaks. The issue was identified during a pre-delivery inspection in China on April 12, when corrosion and a fuel leak were discovered in the fuel tank connecting pipe, a crucial component of the vehicle’s fuel system. The National Highway Traffic Safety Administration’s (NHTSA) Safety Recall Report elaborates on the issue, revealing that the aluminum fuel tank connecting pipe might accidentally come into contact with the high-voltage battery protection cover, made of glass fibers and inox steel. This…

In a recent interview, RC Bhargava, Chairman of Maruti Suzuki India (MSIL), predicted that India could outpace the US and China to become the leading automobile manufacturer by 2028. This bold prediction is fueled by a significant increase in investments in the country’s automobile sector and ambitious expansion plans by leading automobile manufacturers, including Maruti Suzuki. Bhargava highlighted several strategic investments in the industry that are expected to boost production in the coming years. These include a ₹20,000 crore ($2.7 billion) investment from Hyundai Motor India, a ₹5,000 crore ($675 million) investment from MG India, and a ₹18,000 crore ($2.4…

As electric vehicles (EVs) continue to alter the transportation sector worldwide, BYD is making significant strides in the Philippines’ transition to green mobility. Through its local distributor, Solar Transport and Automotive Resources Corp., the automaker is introducing an impressive array of EVs to the Philippine market. Solar Transport pioneered the country’s EV scene by introducing the first EV unit in 2013. Since then, BYD, which stands for “Build Your Dreams,” has gained a reputation for quality vehicles and advanced green technologies. The Chinese automaker’s international renown stems from its innovative EV designs and leadership in green energy applications across diverse…

Toyota has issued a public apology after uncovering a decade-long data breach, resulting from a misconfiguration of their cloud environment, which exposed the personal and vehicle information of nearly 2.15 million customers in Japan. The data leak, ranging from November 6, 2013, to April 17, 2023, occurred as the auto industry continues to embrace connected car technology. The compromised data comprises registered email addresses, unique chassis and navigation terminal numbers, vehicle locations and timestamps, and even video recordings from the vehicles’ ‘drive recorders’. Toyota, the Japanese auto giant, has blamed the incident primarily on an inadequate explanation and attention to…

The European auto industry, renowned for its iconic brands like Volkswagen, BMW, Mercedes-Benz, and Porsche, is teetering on the brink of upheaval. With over 800,000 direct jobs hinging on these automotive giants, the looming threat of electric vehicles (EVs) poses a question of survival. The catalyst for this impending crisis is twofold: Europe’s late entry into the EV revolution and China’s aggressive strategies. The Chinese auto industry has managed to secure control over essential resources such as cobalt, a critical component in car batteries, leaving European automakers in a vulnerable position. German auto manufacturers, traditionally reliant on highly profitable diesel…

Singapore’s escalating COE prices have hit a new record, causing significant distress among the middle class, who find the prospect of owning a car increasingly elusive. The average cost of a permit to buy a car, known as a Certificate of Entitlement (COE), has skyrocketed to an unprecedented US$75,000, making the dream of owning a car a distant reality for many. The skyrocketing COE prices, in addition to the cost of the car itself, have left many middle-class families grappling with a sense of disillusionment. One such individual, Singaporean civil servant Lee Jun Hao, had been meticulously tracking COE prices…

Tesla Massive Recall: Tesla Inc., the US electric vehicle behemoth, is set to recall and update the software of more than 1.1 million vehicles in China, both imported and locally manufactured, according to China’s market regulator, the State Administration for Market Regulation (SAMR). The recall encompasses various models including the imported Model S, Model X, Model 3, along with China-made Model 3 and Model Y. The software update, effective from May 29, is in response to concerns raised about the regenerative braking system and accelerator pedal usage. Tesla’s recall has been registered under China’s stringent deficient vehicle recall regulations, though…