Author: Central Desk

Shares of major automakers fell on Tuesday following President-elect Donald Trump’s announcement of a 25% tariff on imports from Mexico and Canada. The proposed tariffs, set to take effect after his inauguration on January 20, would disrupt the global automotive industry, which relies heavily on low-cost production in Mexico and Canada since the North American Free Trade Agreement (NAFTA) began in 1994. Industry Impact The automotive sector accounts for 26% of U.S. imports from Mexico and 12% from Canada, according to UBS. Major automakers, including General Motors (GM) and Stellantis, produce vehicles and parts in these countries. GM’s highly profitable…

Kia India has achieved a significant milestone by exporting 1,00,000 CKD (Completely Knocked Down) units since shipments began in June 2020 from its Anantapur facility. The milestone underscores Kia India’s role as a major export hub, contributing 50% of Kia Corporation’s global CKD exports. In 2024, Kia India plans to export over 38,000 CKD units to markets such as Uzbekistan, Ecuador, and Vietnam. This success highlights the international appeal and competitive pricing of models like the Seltos, Sonet, and Carens. Joonsu Cho, Chief Sales Officer, stated, “India is a key market for Kia Corporation, serving as both a strong sales…

General Motors (GM) and TWG Global have partnered with Formula 1 to launch the Cadillac Formula 1 Team in 2026. Alongside this initiative, GM will introduce an F1 power unit, aiming to establish the team as a ‘full works’ operation by the end of the decade, producing both vehicles and power units. This marks the first new team to join the Formula 1 grid since 2016, expanding the roster to 11 teams. The venture underscores GM’s commitment to innovation, leveraging cutting-edge technology in electrification, powertrain development, software, and internal combustion engines. These advancements are expected to enhance GM’s global transportation…

The Shanghai Jiading Comprehensive Bonded Zone and Porsche Motorsport Asia Pacific have renewed their strategic partnership at the Shanghai International Circuit. The agreement focuses on enhancing cooperation in racing car trade, services, and motorsport promotion, alongside classic car imports and exports. Porsche Motorsport Asia Pacific, the first motorsport enterprise in the bonded zone, has advanced activities such as car sales, repairs, and event organization. This renewal builds on their 2021 partnership, which achieved success in motorsport, bonded storage, display, transactions, and repairs. The collaboration aims to create a comprehensive ecosystem for the racing and classic car sectors, focusing on resource…

Volkswagen has provided a glimpse of its upcoming ID.2-based electric SUV, showcasing its commitment to an ambitious electric vehicle (EV) strategy despite the ongoing challenges in the global EV market, particularly in Europe. The teaser offers a silhouette of the subcompact SUV, which will be built on the foundation of the ID.2 All concept revealed in 2022. Foundation for Entry-Level EVs The ID.2 All concept has been pivotal in shaping Volkswagen’s entry-level EV lineup. Its design drew inspiration from the iconic Polo hatchback, which enjoys a legendary status in the global automotive market. The forthcoming SUV is expected to carry…

H.H. Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Sports Council, met Oliver Blume, CEO of Porsche, during his visit to the Icons of Porsche Festival at Dubai Design District (d3). The meeting, attended by Helal Saeed Almarri, Director General of Dubai’s Department of Economy and Tourism, and Manfred Bräunl, CEO of Porsche Middle East and Africa, underscored Dubai’s role as a hub for luxury automotive innovation and events. H.H. toured the festival, exploring Porsche’s innovative technologies and advanced solutions. He also viewed a showcase of classic cars, high-performance sports models, and new concept vehicles developed…

MP Industry Group, a leading Romanian automotive supplier, has inaugurated its first auto parts factory in Morocco, a milestone underscoring the country’s rising prominence as a manufacturing hub. Situated in Tanger Automotive City (TAC), the facility spans 35,000 square meters and specialises in producing plastic components for the automotive industry using advanced injection moulding technology. Major Investment and Job Creation Backed by a 437.62 million dirham investment, the project is expected to create 150 direct jobs. The factory’s cutting-edge operations also integrate sustainable practices, including photovoltaic panels and plastic waste recycling systems. The inauguration ceremony was graced by Industry and…

Renault Trucks has reached a groundbreaking milestone in France’s decarbonisation efforts, becoming the first manufacturer in the country to obtain road homologation for an electric retrofitted truck. The 12-tonne Renault Trucks D, originally equipped with an internal combustion engine, has been converted into a battery-electric vehicle and is set to play a vital role in reducing carbon emissions in the logistics sector. The retrofitted truck will be leased through Clovis Grand Paris, Renault Trucks’ leasing partner, to Extime, the operator of duty-free stores at Paris Airport. It will be used for frequent shuttle trips between warehouses and the airport, taking…

Robert Bosch, the world’s largest automotive supplier by revenue, plans to cut 5,500 jobs globally, including 3,800 positions in Germany, as the automotive industry faces declining demand. The reductions will primarily impact roles related to automated driving and car steering products in Germany, according to the IG Metall union and a Bosch spokeswoman. “The automotive industry is suffering from significant overcapacity,” Bosch stated, adding that the exact number of layoffs will be determined through negotiations with labor representatives. The company also noted that competition and price pressures have intensified. Bosch, a private company with components used in nearly all of…

Humax, a global innovator in EV charging solutions, has partnered with Kelvelec, a leading distributor in the electrical industry, to expand the availability of Humax’s EV charger range across the UK. This collaboration aims to enhance accessibility for electrical wholesalers, installers, and retailers while reinforcing Humax’s position in the growing UK EV market. As part of the partnership, Kelvelec will distribute Humax’s full lineup of residential and commercial charging solutions. This includes the Humax 7.4kW Smart Home Charger, launched in March 2024, designed for fast and reliable at-home EV charging. Equipped with smart features such as app control and seamless…