Author: Central Desk

Chinese electric vehicle (EV) giants NIO and XPENG continue to expand their global reach with recent announcements of new market entries into Azerbaijan and Nepal. NIO, a leading global smart EV company, has partnered with local distributor Green Car in Azerbaijan to make its entry into the country. This partnership, announced during the COP29 climate conference in Azerbaijan, will see Green Car oversee NIO’s distribution, service, and the development of its charging infrastructure, including battery swap stations. Additionally, NIO Houses, which are dedicated spaces for customer service and brand experience, will be established in Azerbaijan. Deliveries of NIO vehicles in…

General Motors (GM) has announced the layoff of approximately 1,000 employees globally, as part of cost-cutting measures aimed at maintaining competitiveness in the increasingly crowded global automobile market. The layoffs, which predominantly affect white-collar workers, were communicated early Friday. While the company refrained from providing extensive details, it confirmed the decision in a statement highlighting its focus on efficiency and prioritization. “We need to optimize for speed and excellence,” GM stated. “This includes operating with efficiency, ensuring we have the right team structure, and focusing on our top priorities.” The move comes as GM and other automakers grapple with the…

Dongfeng Nissan has introduced the N7 electric sedan at the Guangzhou International Automobile Exhibition (Auto Guangzhou). The model is set to launch in China in the first half of 2025. The N7 is the first vehicle based on Dongfeng Nissan’s modular architecture, designed for electrified vehicles. Developed and manufactured in China, it aims to meet local market needs with enhanced comfort, intelligent technology, and a smooth driving experience. Previewed as the ‘Nissan Epoch Concept’ at the Beijing Motor Show earlier this year, the N7 targets urban professionals seeking modern technologies. The medium-large sedan features Nissan’s signature V-Motion design and an…

JAC Motors continues to strengthen its global presence, achieving a significant milestone in September 2024 by exporting 7,054 bakkies to over 130 markets. This marked a 13.7% year-on-year increase and contributed to the company’s total of 47,600 units exported in the first three quarters of 2024. JAC Motors now accounts for over 20% of all Chinese bakkie exports, securing its position as the leading Chinese automotive brand in the segment. A company spokesperson highlighted that the consistent growth of their bakkie range overseas is paving the way for further global expansion and solidifying JAC Motors’ reputation in the international automotive…

Kia Corporation has partnered with DHL Korea to foster sustainable logistics in South Korea through electric Platform Beyond Vehicle (PBV) models. The Memorandum of Understanding outlines their commitment to building an electrified logistics ecosystem using Kia’s PBVs. The collaboration begins with Kia’s PV5, a medium-sized PBV set for production in 2026, followed by the larger PV7 model in 2027. Kia will tailor these models to meet DHL Korea’s operational needs, optimizing productivity and sustainability in logistics. As part of the agreement, Kia and DHL Korea will also explore PBV-linked services, including vehicle charging solutions and extended warranties, supporting DHL’s goal…

China’s electric vehicle giant, BYD, is set to enter the South Korean passenger car market in early 2025, introducing premium EV models aimed at establishing the brand as a trusted choice among Korean consumers. BYD’s Korean branch confirmed the debut following comprehensive market evaluations, marking the company’s first foray into South Korea’s passenger car sector after years of success with commercial vehicles like buses and trucks since 2016. BYD Korea announced that it is currently preparing a robust sales and service network across South Korea, recruiting staff, and pursuing state certifications required for car sales. The Korea Economic Daily earlier…

Suzuki’s all-new fourth-generation Dzire sedan has achieved a significant milestone by earning a five-star safety rating from the Global New Car Assessment Program (NCAP), marking it as the first Maruti Suzuki vehicle to receive this high safety rating. Launched recently in India, the updated Dzire boasts a redesigned look along with enhanced safety features as part of Suzuki’s commitment to vehicle safety. Maruti Suzuki voluntarily submitted the new Dzire for Global NCAP testing, where the car’s structure and footwell area were rated as stable, indicating they could withstand further loadings. In adult occupant protection tests, the driver’s chest showed marginal…

Hyundai Motor Company has provided a first look at the interior of its upcoming IONIQ 9, the brand’s first all-electric three-row SUV, marking a major step in Hyundai’s EV journey. Building on the success of the IONIQ 5 and IONIQ 6, the IONIQ 9 signifies Hyundai’s expansion into the large electric vehicle segment. The IONIQ 9 promises a spacious, lounge-like environment designed to transform the EV experience. Simon Loasby, Senior Vice President and Head of Hyundai Design Center, described it as “a nature-inspired, lounge-like interior” that integrates customer-centric design with advanced technology, embodying Hyundai’s vision for future mobility. The SUV’s…

The German auto sector faces deepening challenges, as evidenced by a recent survey conducted by the Institute for Economic Research (Ifo), showing worsening sentiment across the industry. The October survey highlights that 44.3% of German automotive companies report a shortage of orders, the highest level of order insufficiency since July 2020. The seasonally adjusted business climate index for the industry saw a decline, falling to -27.7 points in October from -23.4 points in September. Export expectations, a critical factor for Germany’s export-driven economy, also hit a low, dropping to -32.8 points, the lowest since the spring of 2020. Despite this,…

Tesla CEO Elon Musk’s support for Donald Trump’s presidential bid has propelled Tesla’s market value to unmatched heights, surpassing traditional automakers. As competitors face challenges like China’s economic slowdown and potential Trump tariffs, Tesla’s stock has surged, hitting a $1 trillion valuation last Friday — a level last seen in April 2022. Tesla now outvalues the combined worth of the next 15 largest automakers, including Toyota, General Motors, Stellantis, and Hyundai. Only when adding in smaller brands like Kia, Renault, and Nissan does the valuation gap close. Tesla’s U.S.-based production in California and Austin also shields it from import disruptions…