Author: Central Desk

EU Climate Action Commissioner Wopke Hoekstra saw top executives from Europe’s leading automakers and automotive suppliers advocating for pragmatic conditions to accelerate the sector’s environmental overhaul. This automotive roundtable also included discussions with Charles Michel, President of the European Council, prior to next week’s pivotal EU summit on competitiveness. The European Automobile Manufacturers’ Association (ACEA) highlighted the current transformational phase of the automotive industry, noting it as the most significant in the last century, aimed at meeting the world’s strictest CO2 reduction benchmarks. The industry faces a daunting array of challenges including intense global competition for essential resources and a…

German manufacturing colossus Bosch confronts turbulent times as the automotive industry pivots towards electric vehicles (EVs). This shift coincides with dwindling consumer interest, soaring inflation, and a faltering global economy, prompting extensive restructuring and workforce reductions across the corporation. During Bosch’s disclosure of preliminary 2023 results in March, Board Chairman Stefan Hartung portrayed the situation as exceptionally demanding. “The coming years are going to demand a lot from all of us,” Hartung stated, acknowledging the struggle against economic adversity. Despite these trials, Bosch posted an 8% revenue increase from the previous year, reaching €91.6 billion, with earnings before interest and…

A remarkable upswing in Chinese electric vehicle (EV) exports is catalyzing an extraordinary surge for car-carrying ships, positioning China towards establishing the world’s fourth-largest fleet of such vessels by 2028. This development, highlighted by Reuters, marks a pivotal transition in global trade dynamics, especially within the automotive sector. Presently occupying the eighth rank globally with a fleet of 33 car-carrying ships, China’s aggressive order of 47 additional ships—a quarter of the global orders—signals a transformative shift in the industry’s landscape. This expansive move not only reflects China’s burgeoning influence in the automotive industry but also its strategic maneuvering in the…

Chery, the Chinese automotive powerhouse, is reportedly finalizing plans to establish its first European plant in Spain, marking a potential end to its previously considered location in Turkey. Despite engaging in preliminary discussions with Turkish ministries last year about setting up a production facility, Chery has now veered towards Spain, with Barcelona being the probable site for its new factory. This development surfaces amidst anticipation of Chery’s expansion in Turkey, where it made a comeback last year and quickly gained consumer favor. The company had announced in October 2023 its intentions to establish a production base in Turkey, signaling a…

JAC Group’s recent dispatch of heavy-duty trucks to the Gulf Region marks a strategic leap in its international business endeavors. Celebrated with a ceremony in Hefei, this export signifies a pivotal advance for JAC. It underscores a commitment to global expansion and highlighting the company’s role in the ambitious ‘Belt and Road’ initiative. The Gulf, identified as a crucial market, now witnesses JAC’s dedication to enhancing its footprint, setting the stage for expansive opportunities locally and globally. This venture into the Gulf market adheres to a philosophy centered on mutual trust and reciprocal benefits, establishing robust partnerships and launching products…

Hyundai Motor Company and Kia Corporation have orchestrated a pivotal alliance with Exide Energy Solutions, signaling a transformative leap towards electrifying India’s automotive future. This collaboration, anchored in the shared vision of pioneering electric vehicle (EV) battery production within Indian borders, focuses on the development and deployment of lithium-iron-phosphate (LFP) cells. This partnership was formalized at Hyundai Motor Group’s Namyang R&D Center in South Korea, marking a significant milestone in the drive towards localized EV battery manufacturing. Heui Won Yang, at the helm of Hyundai Motor and Kia’s Research and Development Division, underscored the strategic essence of this partnership. He…

Traditionally a peak month for upscale vehicle transactions, Israel’s December luxury car sales have taken an unexpected detour from the anticipated surge in purchases. This shift underscores a broader narrative of economic caution that permeates realms previously considered immune to downturns, like the luxury car segment. Historically, the final month of the year Israel has been synonymous with a spike in luxury car sales, supported by elaborate marketing strategies from dealers aiming to capitalize on consumer desires for the newest models. This trend, particularly pronounced with premium brands such as Mercedes, which enjoyed a place among top sellers, has seen…

Nio, an electric vehicle (EV) manufacturer, embarks on a groundbreaking endeavor, weaving humanoid robots into its production processes. At the helm of this ambitious project stands Yi Peng, Nio’s Head of Humanoid Robots for Intellectual Engineering, who unveiled detailed insights at the China Humanoid Robot Ecology Conference 2024 in Shanghai. The journey commenced in 2023, marking a pivotal turn in Nio’s approach to manufacturing with the assembly of a specialized humanoid robot ‘squad.’ A collaboration spotlight occurred with UBTech Robotics, a leader in humanoid robotics, demonstrating the Walker S robot’s adeptness in quality inspections within Nio’s factory setting, a testament…

G20 sherpa and former NITI Aayog CEO, Amitabh Kant, has thrown down the gauntlet for Indian electric vehicle (EV) manufacturers, urging them to pivot towards the global market with their electric two-wheelers. During an address at Ather Energy’s community day, Kant pointed to India’s rapid ascension in EV adoption as a beacon for potential international dominance, especially given its status as the premier two-wheeler exporter globally. “Now is the time for Indian EV companies like Ather to not only make 2 two-wheelers for the domestic consumers but also for the world,” Kant proclaimed. This directive comes against a backdrop of…

Tesla Inc. is gearing up to reveal its much-anticipated Robotaxi on August 8, as announced by CEO Elon Musk via a post on the social media platform X. This strategic move arrives at a time when Tesla faces intensified competition from more affordable Chinese electric vehicles (EVs) Following the Robotaxi announcement, Tesla’s shares experienced a surge of up to 5.1% in postmarket trading in New York, despite a 34% decline in the company’s stock value up to the close of trading on April 5. Interestingly, the announcement came shortly after Musk was surpassed by Meta Platforms CEO Mark Zuckerberg as…