Author: Central Desk

Sonalika International, a top tractor manufacturer in India, is contemplating a strategic re-entry into the Multiutility Vehicle (MUV) segment with its Rhino MUV. Known primarily for its success in the tractor market, both domestically and globally, Sonalika’s potential venture into MUVs represents a significant shift in its product range. The Rhino, which previously saw success in India’s tier 2 and 3 markets, might make a comeback. Gaurav Saxena, Director of International Business at Sonalika Tractors, shared a deep affinity for the Rhino. While tractors remain the company’s focus, he did not dismiss the possibility of revisiting the Rhino project. Sonalika’s…

India’s initiative to foster green hydrogen production marks a transformative shift in its approach to renewable energy and climate action. By 2030, this strategy aims to significantly slash fossil fuel imports, promising savings exceeding INR 1 trillion. Mission Goals and Impact Reducing Reliance on Imported Fossil Fuels: The mission’s primary goal is to lessen India’s dependence on foreign fossil fuels, enhancing both energy security and economic stability. Elevating Green Hydrogen Production: Plans include the development of at least 5 million metric tonnes of green hydrogen production annually, coupled with a corresponding increase of about 125 GW in renewable energy capacity.…

Pakistan’s auto parts industry, despite its notable presence in prestigious auto shows and global exhibitions, faces a concerning trend in export growth. This sector’s performance over the past seven years reveals a troubling picture. Data from the Pakistan Bureau of Statistics (PBS) indicates a turbulent swing in exports. from $16 million in FY18 to a peak of $27 million in FY22, followed by a decline to $22 million in FY23, and a further slip to $7.1 million in the initial months of FY24. Auto parts export dynamics are not solely reliant on domestic production capabilities. They are intrinsically tied to…

Hyundai Motor Company, the South Korean automotive giant witnessing a fierce rivalry with its ambitious Chinese automakers. This battle centers around pivotal themes of prestige, pricing, and a relentless pursuit of technological innovation that is reshaping the automotive landscape. Prestige at the Forefront Asserting its superiority, Hyundai stands tall as a more prestigious brand compared to its Chinese rivals. This stance, spearheaded by John Kett, the Australian Chief Operating Officer, hinges on the pivotal role of technological innovation in securing Hyundai’s premium market position. Echoing Hyundai’s global operations, Kett’s vision dismisses the era of budget cars, signaling a shift towards…

Hella, a manufacturer of electronic components for the automotive industry, and TMD Friction, a leading global supplier of high-quality brake friction solutions have finalized an agreement regarding their Hella Pagid joint venture. This arrangement will result in Hella acquiring TMD Friction’s 50% stake, making it the sole owner of Hella Pagid. Established in 2013, Hella Pagid distributes brake components and accessories globally, and the financial details of this deal remain undisclosed. Stefan van Dalen from Hella emphasizes the decade-long evolution of Hella Pagid into a top provider of brake systems, noting brakes’ crucial role in their aftermarket business. He points…

Russian automakers are charting new international territories, responding to challenges within their domestic market. Aurus Motors, a luxury vehicle producer, leads this charge by initiating F-Class Senat sedan production in Dubai. This initiative, highlighted by Trade and Industry Minister Denis Manturov, signals the start of an expansive plan, focusing first on establishing a strong foothold in the United Arab Emirates. Russian automakers like UAZ and AvtoVAZ are exploring ventures in regions as varied as Cuba, Ghana, Africa, and Central Asia. These endeavors mark a revival of Russia’s automotive export ambitions, contrasting sharply with the previous year’s slowdown. Traditionally, Russian car…

A transformative collaboration emerges as SAIC Motor, a global automotive giant, and JSW Group, a prominent Indian conglomerate, announce their Joint Venture (JV). This partnership signifies a new era for India’s green mobility and automotive growth. SAIC Motor, a Fortune 500 entity with an annual revenue of $110 billion and operations across 100 countries, joins JSW Group, with diverse interests and a revenue footprint of $23 billion. This alliance aims to revolutionize India’s automotive landscape. Key to this JV is the Shareholder Agreement and Share Purchase & Share Subscription agreement, signed at MG UK Headquarters, London. The event marks a…

Lotus Technology Inc., the dynamic arm of the Geely-owned Lotus Group based in China, has announced a major financial milestone with funding agreements totaling approximately $870 million. This substantial financial influx sets the stage for its upcoming initial public offering (IPO) in the United States. This investment, a blend of private investment in public equity financing and convertible notes, propels Lotus Tech to a significant position within the electrification and luxury vehicle sectors. GlobalData’s deals database indicates these agreements precede Lotus Tech’s intended merger with L Catterton Asia Acquisition Corp (LCAA), a special purpose acquisition company (SPAC) created by affiliates…

For improving urban mobility and reducing parking-related issues, Dott, a leading European micromobility operator, is set to revolutionize the parking of its shared e-scooters and e-bikes through advanced AI technology, developed in collaboration with Captur. This innovative approach is poised to enhance the integration of Dott’s services in cities, promoting responsible parking behaviors and maintaining clearer pavements and roads. The AI technology, a groundbreaking development in the micromobility sector, will automatically evaluate parking photos submitted by users at the end of their journeys. This process, tailored to meet the unique needs of each city and in alignment with local authorities,…

Greenpeace organization’s recent announcement reveals a concerning trend. The significant increase in sport utility vehicle (SUV) sales by leading carmakers Toyota, Volkswagen, and Hyundai-Kia is negating the environmental benefits anticipated from the shift to electric vehicles. This report emerged just before the United Nations COP28 climate summit, aligning with findings from the Global Fuel Economy Initiative. This alliance’s research indicates that the popularity of larger SUVs hampers emission reduction efforts in the automotive sector. Erin Choi, a Greenpeace activist, emphasizes the urgency of the situation, pointing out the rapid escalation in SUV manufacturing by these major automakers, which risks exacerbating…