Author: Central Desk

The recently enacted EU-UK post-Brexit trade deal is posing a significant threat to the production of electric vehicles (EVs), warns the European Automobile Manufacturers’ Association (ACEA). This looming threat is born from stringent new rules forcing automakers to source a greater proportion of EV components locally or face hefty import tariffs. Under the trade deal, EVs must comprise 45% of EU or UK content starting from 2024, with a specific 50-60% requirement for their battery cells and packs. Non-compliance with these mandates will attract British or EU import tariffs of 10%. ACEA highlighted that these regulations could potentially cost European…

Eleven 12-meter BYD electric buses have been successfully deployed in the city of Zalaegerszeg in Hungary. This innovative project was completed in partnership with Volánbusz, one of the largest public transport operators in Hungary, and the Hungarian Motorsport Development Agency’s (HUMDA) Green Bus Program. With a total project investment of HUF 2.1 billion ($6,150,962), the city is set to benefit from a green, sustainable, and efficient public transport system serving over 55,000 residents. The new electric buses, replacing 11 previous vehicles, are expected to run on almost all bus lines in the city. The electric buses come equipped with air…

There’s a strong forecast for the global electric farm tractor market, with expectations of an increase from $98.7 million in 2022 to a significant $234.0 million by 2028, as revealed by ‘Research & Markets’. This leap indicates a noteworthy CAGR of 14.06% during 2023 to 2028. Electric farm tractors, developed to replace the traditional diesel or gasoline-powered tractors, are witnessing fast acceptance in the agriculture sector. With their advantages like lower carbon emissions, reduced operational costs, and quieter functionality, these tractors are becoming a preferred choice for modern farmers. Various elements are driving the market’s growth, mainly the rising worldwide…

Four of Japan’s leading motorbike manufacturers, Kawasaki, Suzuki, Honda, and Yamaha, are setting their sights on the future of ‘small mobility’ with a fresh focus on hydrogen. They will form a technological research consortium (Research for Hydrogen Motorbikes) known as Hydrogen Small Mobility and Engine Technology (HySE) with a primary goal to develop hydrogen-powered motorcycles and other compact mobility vehicles that utilize internal combustion engines. Small mobility, a sector inclusive of motorcycles, mini-vehicles, small marine vessels, construction equipment, and drones, is the focal point of the HySE consortium. Each manufacturer, having been granted approval from Japan’s Ministry of Economy, Trade…

South Korean car giant, KIA, plans to unveil its all-electric EV9 flagship SUV domestically this week, ramping up its commitment to electrification. KIA, which stands as the nation’s second-largest car manufacturer, announced this initiative on Sunday. The EV9, a three-row seater, is the company’s second offering based on the Electric-Global Modular Platform (E-GMP), a technology initially used in the EV6 SUV launched in 2021. The novel model will feature a two-wheel drive powered by a 99.8-kilowatt hour battery, offering an impressive range of 501 kilometers on a single charge. KIA also declared the availability of an all-wheel-drive variant of the…

Signs of recovery in Brazil’s manufacturing sector are emerging, led by the automotive industry and spurred on by a healthier macroeconomic climate. Encouraging factors such as declining inflation rates, tax breaks for car buyers, and improved GDP growth forecasts have significantly enhanced industrial prospects in the country. Brazil’s automobile producers are ramping up production, preparing for a significant increase in sales driven by a government scheme to reduce car prices, set to take effect in June. This boost in the automotive industry – a sector that greatly influences petrochemicals demand – is expected, as Brazil’s inflation continues to decline, hitting…

Toyota Motor is set to amplify its electric vehicle (EV) battery production with a substantial boost from a 120 billion yen ($853 million) government subsidy, according to Nikkei sources. This fiscal stimulus is a strategic move by Japan’s industry ministry, aimed at intensifying domestic production and mitigating supply chain risks associated with EV technology. These funds form part of a larger 330 billion yen budget allocation by the Ministry of Economy, Trade and Industry for the development of storage batteries, a sector identified as crucial to the nation’s economic security. This financial assistance demonstrates Japan’s determination to counter similar initiatives…

Rockwell Automation, a leading global entity in industrial automation and digital transformation, recently made public the findings of their 8th annual “State of Smart Manufacturing Report: Automotive Edition”. The study uncovers vital trends and strategies in the automotive industry, offering critical insights for manufacturers and policy-makers. The report analyses the responses of 197 leaders spanning automotive manufacturers, suppliers, and electric vehicle makers across 13 top manufacturing nations. It brings to light the ongoing evolution of the automotive industry, underlining the importance of quality pursuit, process automation’s impact, smart manufacturing adoption, and technology’s role in risk mitigation, workforce challenges, cost reduction,…

Russia’s Central Automobile and Engine Research and Development Institute (NAMI) announced Wednesday it has acquired a 100 percent stake in a factory formerly owned by the German automotive parts supplier, Robert Bosch. The factory, known for producing sophisticated systems such as anti-lock brakes, was an integral part of Bosch’s operations. NAMI’s latest acquisition forms part of a wider trend following Russia’s invasion of Ukraine, which led many major global automakers to withdraw from Russia. Capitalizing on this, NAMI has been purchasing assets from these companies, stepping into the void they’ve left behind. In line with this trend, NAMI had previously…

The United States is bracing for the long-awaited return of the iconic Toyota LandCruiser, specifically the Prado model. This announcement comes two years after the U.S. confirmed it would no longer offer the LandCruiser 300 Series for sale. The new Prado is set to debut in 2024, with an anticipated reveal later this year. Toyota broke the news through a social media post with the intriguing caption, “Nothing better than a comeback story. The legend returns… #LetsGoPlaces.” The post was accompanied by various images of the historic LandCruiser badge. This 2024 model will draw design inspiration from the Lexus GX,…