Author: Central Desk

Era-defining sustainability merges with groundbreaking innovation as Ferrari, synonymous with Italian luxury sports car supremacy, embarks on a transformative journey towards electrification. This automotive titan has entered into a strategic partnership with SK On, a behemoth in the electric vehicle battery realm, to spearhead advancements in battery cell technology. This collaboration heralds a pivotal chapter as Ferrari prepares to debut its premier fully electric vehicle (EV) next year. A memorandum of understanding, formalized on Tuesday, signals the fusion of unparalleled expertise and resources between the two corporations. Their joint venture aims to not merely propel their individual ambitions but to…

China initiated formal dispute proceedings at the World Trade Organization against the United States, targeting what it deems ‘discriminatory’ electric vehicle (EV) subsidies encapsulated within the 2022 Inflation Reduction Act. This move accentuates escalating trade frictions between the globe’s economic juggernauts. Central to this contention is U.S. legislation that extends tax credits from $3,750 to $7,500 to American EV buyers, contingent on the exclusion of battery components sourced from specific nations, notably China, Russia, North Korea, and Iran. The U.S. defends this policy as a strategy to bolster domestic production and mitigate dependency on adversarial states. Contrarily, Beijing views these…

Nissan unveils a bold blueprint aiming for a significant overhaul of its vehicle roster by 2026, targeting the electrification of more than half its offerings. This venture into electrification intends to transform 16 out of 30 produced vehicles, showcasing Nissan’s dedication to fostering sustainable transport modalities and meeting the surging global appetite for eco-conscious vehicular options. This electrification initiative transcends mere expansion of Nissan’s electric vehicle (EV) spectrum; it signifies the introduction of a versatile range of mobility solutions. With North America as a primary beneficiary, seven novel models are slated for deployment across the US and Canada. Despite ambiguity…

BYD, a titan of Chinese automotive manufacture, unveiled a newer, more cost-effective variant of its electric sedan, poised as a direct competitor to Tesla’s Model 3. This revelation followed closely on the heels of BYD commemorating its 7 millionth new energy vehicle (NEV) exiting the production line, marking a significant milestone in the company’s history. Christened the ‘Seal Honor Edition,’ this fresh iteration emerged via BYD’s Weibo account, signaling the firm’s intent to disrupt the market with competitively priced offerings aimed at capturing a wider consumer demographic. With an entry price point around $25,000 (179,800 yuan), the Seal Honor Edition…

Hyundai Motor Group (the Group) co-hosted the groundbreaking 2024 Korea-Africa Business Forum in Seoul, a collaboration with the Centre for Sustainable Structural Transformation (CSST) at SOAS University of London and the Korea-Africa Foundation. This pivotal gathering aimed to forge strategic partnerships for sustainable development, navigating geopolitical complexities and spotlighting Africa’s untapped potential for collaborative growth. Ken Kim, Executive Vice President of HMG Business Intelligence Institute, articulated the forum’s objective to catalyze cooperation between South Korea and African nations. “Africa holds immense potential for strong partnerships and sustainable development. Through this forum, we have set the stage for cooperation between South…

Isuzu Motors propels itself to the forefront of the electric vehicle (EV) evolution, unveiling the D-MAX BEV, its pioneering all-electric pickup. This new step not only signifies Isuzu’s entry into the burgeoning EV sphere but sets the stage for a robust rivalry with established models like the Ford F-150 Lightning. Traditionally known for diesel engines, Isuzu’s pivot towards electric propulsion marks a crucial departure towards sustainable automotive solutions, echoing a global shift toward carbon neutrality. The announcement by Isuzu’s President, Shinsuke Minami, in Bangkok, underscores a commitment to a greener future, reflecting broader industry and consumer shifts towards eco-friendly transport…

India’s ambitious policy reforms aimed at cementing its status as a global nexus for electric vehicle (EV) manufacturing are catalyzing a significant entry of Chinese electric automakers into its market. This development is set against China’s dominance in EV battery manufacturing, leading the world with over half the global lithium-ion (Li-ion) manufacturing capacity. Yet, with nations like India enhancing their EV battery production capabilities, China faces stiff competition, potentially diminishing its market share. The Indian government’s strategic endeavors to bolster hybrid and electric vehicles through various schemes have been central to the country’s push towards EV adoption. Targets to convert…

Volkswagen has unveiled its latest venture into the electric vehicle domain: the ID.4, a signal of the company’s deep dive into sustainable transportation technologies. This electric SUV stands as a testament to Volkswagen’s green ambitions, disrupting traditional automotive paradigms with its launch. The Vanguard of Electric Drive: ID.4 by Volkswagen With the introduction of the ID.4, Volkswagen is not merely participating in the electric vehicle revolution; it is aiming to lead it. This all-electric SUV synthesizes groundbreaking design, advanced technological integration, and a commitment to environmental preservation, setting it apart in a competitive field. Distinct Features of the ID.4 Aerodynamic…

NETA Auto has ignited mass production at its first eco-smart factory situated in Thailand, representing a pivotal advance in its strategy for global market penetration. This development not only reinforces NETA’s foothold in Thailand but also establishes a critical base for its ambitious agenda to dominate the global electric vehicle (EV) market. The facility, strategically positioned within a Bangkok industrial estate, marks NETA’s initial foray into electric vehicle manufacturing outside China, signaling a strategic shift toward international arenas. Capable of producing 20,000 electric vehicles annually, this factory underscores NETA’s dedication to fueling global energy transformation efforts. Achieving a significant milestone,…

Stellantis, renowned for its portfolio including Jeep, Ram, Chrysler, and Dodge, declared a notable realignment within its engineering and software divisions. This strategic adjustment, aimed at bolstering competitiveness during the shift to electric vehicles (EVs), resulted in the dismissal of 400 white-collar positions, impacting around 2% of its specialized U.S. workforce. This move unfolds against the backdrop of a year where Stellantis celebrated unprecedented global net profits of $20 billion, notwithstanding a marginal 1% contraction in U.S. market sales. Spokesperson Jodi Tinson conveyed that these dismissals are tactically geared towards navigating the automotive sector’s current volatility, marked by intense competitive…