Author: Central Desk

Renault and SUEZ are expanding their partnership on recycling waste metal and recovering end-of-life vehicles, with new strategic agreements aimed at supporting the automotive sector’s ecological transition. Together, they aim to advance The Future Is NEUTRAL initiative, positioning it as a leader in the automotive circular economy. Renault Group CEO Luca de Meo said SUEZ’s investment in The Future Is NEUTRAL confirms the value of their model.Our joint investment will allow us to accelerate in order to provide an open circular economy platform that meets the needs of all players in the automotive industry, in growing activities. We are doing…

Toyota will invest $500 million in Joby Aviation, which is developing electric air taxis for commercial passenger use. This investment supports the certification and commercial production of Joby’s electric air taxis, moving forward the shared vision of both companies for sustainable air mobility. The investment, in two equal tranches, is subject to regulatory approvals, commercial agreements, and other conditions. It will increase Toyota’s total investment in Joby to $894 million. The first tranche is expected later this year, with the second in 2025. JoeBen Bevirt, founder and CEO of Joby Aviation, said, “Today’s investment builds on nearly seven years of…

U.S. East and Gulf Coast port workers commenced a strike early Tuesday, which seriously effecting automotive supply chain. These ports processed $37.8 billion in vehicle imports over the past year, and the strike now risks delaying the timely delivery of vehicles and crucial auto parts. Bill Long, CEO of the Motor & Equipment Manufacturers Association (MEMA), warned that a prolonged disruption could result in plant shutdowns and job losses, stating, “If it’s a lengthy strike… it’s going to be a disaster.” The strike follows the expiration of a labor contract between the International Longshoremen’s Association (ILA), which represents 45,000 port…

VinAI is set to unveil its latest innovation, DrunkSense, at InCabin Europe 2024 in Barcelona. DrunkSense is the world’s first system that detects drunk driving without requiring a breathalyzer, representing a major advancement in road safety. This technology, with an impressive accuracy rate of up to 85%, is being introduced to the European market for the first time. DrunkSense is designed for next-generation smart vehicles and uses a combination of sensors to detect alcohol impairment. It tracks facial expressions, monitors vehicle control, and analyzes air alcohol levels, achieving an 85% sensitivity rate—an 8% improvement over current standards. Unlike traditional breathalyzers,…

Porsche once again claims the crown in J.D. Power’s U.S. Automotive Brand Loyalty Study, securing the top spot in the premium car category for the third year in a row. J.D. Power, a leading global firm specializing in consumer insights, revealed this accolade, recognizing Porsche’s sustained dedication to customer retention. “Customer loyalty is at the core of the Porsche brand,” remarked Timo Resch, President and CEO of Porsche Cars North America. “Every one of us, from our independently owned and operated Porsche Centers across America to our headquarters here in Atlanta, is committed to creating a world-class experience from start…

Ferrari has switched off its trigeneration plant at the Maranello factory, advancing its transition towards renewable energy and reducing its methane gas consumption. Ferrari is taking major effort to work towards carbon neutrality by 2030. The trigeneration plant, operational since 2009, generated electricity, heat, and cooling energy but was shut down three months earlier than scheduled. Ferrari aims to cut its annual Scope 1 and 2 CO2 emissions by 60% and reduce methane gas consumption by 70% by ending the use of this gas-fuelled plant, in line with the decarbonisation goals set in 2022. Ferrari is boosting its renewable energy…

Stellantis issued a profit warning on Monday, becoming the second major automaker in four days to revise its financial outlook downward. The global car industry faces increased pressure from rising competition, particularly from China, causing Stellantis to lower its full-year forecast. Automotive giant experienced a sharp decline in its share price, dropping by around 15% in European trading. Similar declines were anticipated in the U.S. market after the announcement. Stellantis indicated that it will fall short of achieving a double-digit underlying operating profit margin and positive net cash flow in its core manufacturing business this year. “Competitive dynamics have intensified…

Scania has become the first truck manufacturer in the world to successfully integrate reused components directly into its main assembly line. This move happened in Sweden earlier this year as part of the iReGear research project, carried out in collaboration with KTH Royal Institute of Technology and Scandinavian Transmission Service AB, with funding from Vinnova, Sweden’s innovation agency. The project focused on remanufacturing a gearbox, which underwent the same stringent quality and functionality checks as gearboxes made entirely from new materials. Tested on Scania’s regular production line, the gearbox met over 100 quality parameters, proving it was just as good…

Hyundai Motor Company has reached a major milestone, producing 100 million vehicles globally since its foundation 57 years ago. This achievement places the South Korean automaker among the fastest-growing companies in the global automotive industry. To mark this historic moment, Hyundai delivered its 100 millionth and first vehicle, a Hyundai Ioniq 5, to a customer at the Ulsan plant in South Korea. Jaehoon Chang, President and CEO of Hyundai Motor Company, expressed gratitude towards customers worldwide for their ongoing support. He credited Hyundai’s rapid growth to its dedication to bold challenges and innovation, setting the company on a path toward…

California Governor Gavin Newsom vetoed a bill that would have required new vehicles to alert drivers when they exceed the speed limit. The speeding alerts aimed to reduce traffic deaths by making California the first U.S. state to mandate speed alert technology for all new cars, trucks, and buses starting in 2030. The bill sought to introduce intelligent speed assistance systems, which use GPS to compare a vehicle’s speed against posted limits. Vehicles exceeding the speed limit by at least 10 mph (16 kph) would emit an audio and visual alert. Exceptions would apply to emergency vehicles, motorcycles, and motorized…