Author: Central Desk

The shortage of car-powered ships has led to unprecedented challenges in the transportation of electric vehicles (EVs) from China to Europe. This deficit has escalated shipping costs to unprecedented levels and has severely restricted EV exports. The Shipping Industry’s Unforeseen Dilemma During 2020’s pandemic-driven standstill, when car factories shut down globally, shipping companies made a strategic decision to scrap older fleets. Anticipating a protracted downturn, they cut down their capacity. Yet, the rebound in global automobile demand, particularly the surge in Chinese exports, outpaced expectations, leading to an acute shortage of critical shipping vessels. Intense Competition and Capacity Strains A…

A remarkable transformation unfolds as three Korean automakers – GM Korea, KG Mobility, and Renault Korea Motors – gear up for an aggressive export strategy in 2024. Transitioning from previous financial struggles, these companies now target global markets with a focus on innovative models. GM Korea’s Export Surge GM Korea exhibited an impressive export trajectory last year, with 91% (429,304 units) of its total sales destined overseas, marking an 88% increase from the previous year. Leading this growth were the Trailblazer SUV and the Trax CUV. Anticipating continued demand, especially from North America, GM Korea plans a production boost to…

China is intensifying its focus on the New Energy Vehicle (NEV) industry, signaling a clear intention to dominate this high-growth sector. This move aligns with China’s overarching goal of becoming an automotive juggernaut, reshaping the future of mobility. NEVs Meet the Grid: A 2025 Blueprint A groundbreaking initiative, led by the National Development and Reform Commission alongside three key authorities, focuses on seamlessly merging NEVs with the national power grid. By 2025, expect to see a comprehensive set of technical standards and a sophisticated time-of-use electricity pricing mechanism tailored for NEV charging. 2030: The Electrochemical Energy Epoch Come 2030, expect…

Lotus, the vanguard of British automotive ingenuity, charts a bold course into unexplored territory with the debut of the Lotus Eletre. This venture marks a radical departure from Lotus’s storied sports car heritage, signaling its foray into the electric SUV frontier. A testament to its electric vehicle Initiative, the Eletre’s arrival in Greece signaled a bold step in its global electric vehicle ambitions. Previously earmarked for a summer 2024 unveiling on Greek shores, the Eletre now gearing up for an earlier showcase. News Auto announced the SUV’s imminent February arrival. This news sends ripples of anticipation through the ranks of…

Germany experienced a sharp 23% decrease in new car registrations this past December, with only 241,883 vehicles hitting the roads, following the cut in EV incentives. Industry experts link this downturn directly to the government’s premature halt of the environmental bonus for electric vehicle (EV) purchases. This decline marks the steepest drop in 2023, overshadowing an otherwise positive year for the German automotive industry. Despite this setback, data from the Kraftfahrt-Bundesamt (KBA) shows an overall annual increase of 7.3% in car registrations compared to 2022, totaling 2.84 million vehicles. Impact of Incentive Cessation The German government’s decision on December 17…

The United Kingdom’s aspiration to secure a substantial portion of India’s burgeoning auto sector surfaces as a key objective in the Free Trade Agreement (FTA) discussions, Commerce Secretary Sunil Barthwal disclosed on Friday. This ambition mirrors a broader trend among nations negotiating FTAs with India, all aiming to tap into the prosperous market of India’s auto industry Barthwal notes India’s rise as a pivotal force in the entire automotive value chain, extending beyond vehicle assembly. The nation’s auto industry has witnessed comprehensive development, spanning auto-grade steel production, component manufacturing, tyre creation, and exports. Transitioning from traditional internal combustion engines (ICE)…

Tesla, the American electric vehicle powerhouse, faces a significant hurdle with the recall of over 1.6 million cars across China. This Tesla recall, as per China’s market regulator, marks a pivotal moment for the firm, coinciding with its slip from the top spot in EV sales, now claimed by China’s BYD. The Core Issue: Software Malfunctions Prompting this massive recall are defects discovered in assisted driving functions and door-locking systems. Tesla’s strategy to rectify these glitches involves remote over-the-air (OTA) updates. The State Administration for Market Regulation (SAMR) declared, “Starting from now, a total of 1,610,105 imported Model S, Model…

Bumper, a trailblazer in FinTech for auto payments, recently sealed a monumental $48 million Series B funding round. This surge in funding propels Bumper’s total investment to a striking $64 million, signifying a major leap in its expansion journey. Transforming Auto Repair Payments Central to Bumper’s vision is a groundbreaking approach to handling car repair payments. The company’s innovative solution lets car owners split repair bills into interest-free installments. This not only eases the financial load for car owners but also arms dealerships and garages with cutting-edge digital payment options, boosting their business growth and profitability. Strategic Growth and Tech…

The Israeli EV market in 2023 witnessed a remarkable expansion. Data from the Israel Automobile Importers Association disclosed a sale of 4,738 new cars in December 2023, contributing to a yearly figure of 270,023 units – a slight 0.7% uptick from the previous year. This period, characterized by a military conflict, undoubtedly influenced car sales. Electric vehicles (EVs) emerged as a dominant force, comprising 17.9% of all new car sales in Israel. A total of 48,219 EVs were sold in 2023, a significant leap of 75% compared to 27,671 units in 2022. Chinese automakers BYD and Geely outshone competitors, securing…

The automotive landscape faces a looming upheaval with former President Donald Trump’s advisers unveiling plans to significantly modify the United States’ pivotal green legislation, the Inflation Reduction Act (IRA). This development has prompted leading car manufacturers like Nissan and General Motors (GM) to voice apprehensions regarding the prospective growth trajectory of electric vehicle (EV) sales in the US. Background on the IRA: Designed to bolster EV manufacturing domestically, the IRA extends consumer incentives for purchasing battery vehicles featuring parts sourced from the US or its trade allies. This legislation, aimed partly at reducing dependence on Chinese technology, has already catalyzed…