Author: Central Desk

Carlos Tavares has resigned as CEO of Stellantis, the automaker behind brands like Jeep, Peugeot, and Alfa Romeo, following a sharp decline in the company’s stock value and internal disagreements. The resignation was announced on Sunday, with Stellantis confirming that the process to appoint a new CEO is expected to conclude in the first half of next year. John Elkann, Stellantis Chairman, thanked Tavares for his significant contributions, especially in forming Stellantis through the merger of Fiat Chrysler and Peugeot in January 2021. “Our thanks go to Carlos for his years of dedicated service,” Elkann stated. This development follows a…

Austrian motorcycle manufacturer KTM has assured that the judicial restructuring of its holding company, Pierer Mobility AG, will not affect its business operations in India or its select export markets. This announcement comes after KTM AG, along with its subsidiaries KTM Components GmbH and KTM F&E GmbH, filed for a restructuring process due to liquidity constraints on November 26. Despite the restructuring affecting the business activities out of Austria, including exports from Austria, India, and China to major markets in the US and Europe, KTM has stated that its collaboration with Bajaj Auto in India remains intact. The companies jointly…

Hyundai Mobis has unveiled an ambitious growth strategy, aiming to capture 40% of the global original equipment (OE) auto components market by 2033, up from its current 10% share. The announcement, made during the 2024 CEO Investor Day in Seoul, underscores the company’s commitment to transforming its business model, driving profitability, and advancing sustainable mobility solutions. Strategic Growth Targets President and CEO Lee Gyusuk outlined Hyundai Mobis’s roadmap, including a goal of 8% annual revenue growth and an operating margin of 5-6% by 2027. The company also aims to deliver a Total Shareholder Return (TSR) exceeding 30%, reflecting its focus…

The global automotive industry is witnessing a transformative shift as vehicle manufacturers accelerate towards electrification and autonomy. Modern smart vehicles have evolved significantly from their analogue predecessors, integrating advanced applications and sensors to enhance user experience and safety. A prominent example of this evolution is the rapid growth of advanced driver assistance systems (ADAS). These systems utilise data from various sensors in real time to respond to potential hazards faster than human drivers. Features like adaptive light control and automatic emergency braking not only improve safety but also showcase the potential of autonomous decision-making in future vehicles. The surge in…

A recent S&P Global report has raised concerns over President-elect Donald Trump’s proposed tariffs on imports from China, Canada, and Mexico, warning of significant profit losses for the global auto industry. The report highlights the potential financial strain on automakers if the tariffs, set to take effect on Trump’s first day in office, are implemented as planned. The proposed tariffs include a 25% levy on imports from Canada and Mexico and a 10% tariff on goods from China. According to S&P, premium automakers such as Volvo and Jaguar Land Rover are likely to face the greatest challenges, with the tariffs…

Toyota Motor Corporation, the world’s largest automaker, reported a continued decline in global production for October, marking its ninth consecutive monthly drop. Despite this trend, the company showed resilience with only a mild 0.8% year-on-year decline in production and a record-breaking 1.4% rise in global sales for October, signaling potential stabilization amidst ongoing challenges. Toyota produced 893,164 vehicles in October, a slight improvement from September’s sharper 8% decline. This improvement suggests that the automaker may be addressing its production difficulties. Meanwhile, sales hit 903,103 units, marking the highest-ever figure for October and breaking a five-month streak of declining sales. Regional…

Vietnam auto sector has transitioned from reliance on imported cars to becoming a significant player in global markets, marked by domestic production, exports, and the rise of electric vehicles. This shift highlights the industry’s growing capacity, innovation, and appeal to international investors. A key achievement was VinFast’s export of 999 VF8 electric cars to the US in late 2022, meeting stringent safety and quality standards. The milestone underscored Vietnam’s ability to produce globally competitive vehicles. By 2024, VinFast ranked 28th globally in battery-powered electric vehicle sales, selling 44,260 units and surpassing established brands like Honda and Subaru. The company has…

Toshiba Electronics Europe has launched engineering samples of its new TB9084FTG, a MOSFET gate driver IC designed for three-phase brushless DC (BLDC) motors. This cutting-edge device addresses the increasing adoption of BLDC motors in automotive applications, offering enhanced performance, compact design, and robust reliability. The TB9084FTG aligns with the automotive industry’s shift from brushed DC motors to BLDC motors, which provide quieter operation and extended lifespan. The device is engineered to drive BLDC motors powering key body system applications, such as powered sliding doors, power tailgates, and adjustable seats. It is also suitable for improving the efficiency of electric pumps…

Volkswagen AG, alongside its Chinese partner SAIC Motor, has exited its operations in Xinjiang, China, selling its Urumqi-based plant and other facilities in a move addressing international concerns over alleged human rights abuses in the region. The factory, originally built in 2013 with a capacity of 50,000 vehicles annually, had ceased vehicle production and served as an inspection site. The sale ensures job retention for its 170 workers under the new owner, Shanghai Motor Vehicle Inspection Center. The divestment follows years of scrutiny over allegations of forced labor involving Uyghur Muslims in Xinjiang. While Volkswagen denies wrongdoing, citing independent audits,…

Jaguar Land Rover (JLR) has made a groundbreaking advance in recycling polyurethane seat foam from its used vehicles, successfully reintegrating the material into new seat production. This marks the first time closed-loop seat foam content has been used in automotive manufacturing, achieved in collaboration with Dow’s MobilityScience and seating specialist Adient. Towards Sustainable Mobility JLR is testing the recycled material in its full production process, with plans to trial its use in pre-production vehicles next year. Polyurethane foams, traditionally challenging to recycle due to their durability, often end up in landfills. By establishing a closed-loop supply chain, JLR aims to…