Author: Central Desk

The United States and European Union implementing protective measures against Chinese auto exports, sparking a contentious debate that underscores the complex interplay between national security, economic imperatives, and international solidarity. China’s Counter to Western Protective Stances China’s forceful rebuttal to the US and EU’s protective moves emerged prominently on Tuesday. The Foreign Ministry’s spokesperson, Mao Ning, articulated a defense of China’s automotive industry’s exponential growth, emphasizing the provision of cost-effective, superior products to the global market. This argument gains substantial backing from the China Association of Automobile Manufacturers’ January report, showcasing a 47.4 percent surge in vehicle exports year-on-year, totaling…

UMW Toyota Motor Sdn Bhd embarks on a groundbreaking journey with the unveiling of its Beyond Zero initiative, mirroring Toyota’s worldwide commitment to achieving carbon neutrality by the year 2050. Launched at Technology Park Malaysia, Bukit Jalil, this initiative showcases a series of innovative strategies for embedding sustainable and eco-friendly practices within the automotive industry. The event attracted notable figures, including Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, who underscored the imperative of Malaysia’s pivot towards renewable energy. Citing Malaysia’s leading position in Southeast Asia on the Energy Transition Index 2023 by the World Economic Forum,…

The United Auto Workers (UAW) union has escalated tensions with Ford by signaling readiness for a strike at the Kentucky Truck Plant should contract negotiations remain unresolved by the forthcoming Friday deadline, February 23. Central to the discord is a contract lagging five months behind schedule, with pivotal concerns revolving around worker welfare and healthcare, notably the demand for definitive in-plant nurse staffing ratios. Situated in Louisville, this plant stands as a cornerstone in Ford’s manufacturing empire, boasting a workforce of approximately 9,000 UAW members. This workforce is instrumental in producing esteemed models such as the Expedition and Navigator SUVs,…

Deloitte’s latest research, the Global Automotive Consumer Study for 2024, casts a spotlight on India’s car market, showcasing a robust pivot toward Hybrid Electric Vehicles (HEVs). This transition, fueled by the dual engines of environmental responsibility and the appeal of lower fuel costs, signifies a transformative moment for India’s vehicular dynamics. Surveying 1,000 Indian consumers, the study unveils that price remains a decisive factor in vehicle purchases, with an overwhelming majority targeting the INR 5–25 lakh price range. Despite the surge in hybrid interest, the findings also suggest a balanced affinity for both ICE and Electric Vehicle (EV) engines across…

The Biden administration contemplates a deceleration of the United States’ shift towards electric vehicles (EVs), a move that naling a more accommodating stance towards car manufacturers and labor unions. The New York Times, drawing on information from three sources privy to the matter, reports that the Environmental Protection Agency (EPA) intends to relax imminent vehicle pollution regulations. This policy adjustment allows automakers to maintain a reduced proportion of EVs in their 2030 fleets compared to original mandates under the administration’s ambitious ecological agenda. This recalibration of EPA’s proposed rule represents a concession to the automotive sector and labor organizations, voicing…

Hyundai Motor Group, the titan of South Korea’s automotive sector, has secured the third rank globally in car sales, marking the second successive year of such achievement. This development emphasize the conglomerate’s steadfast dedication to innovation, excellence, and customer satisfaction within the fiercely competitive auto industry. Boasting a varied lineup that features Hyundai Motor, Kia, and the luxury marque Genesis, Hyundai Motor Group announced sales totaling 7.34 million vehicles for 2023. This remarkable sales figure positions the group just behind the automotive behemoths Toyota Motor Group, with an unprecedented 11.23 million vehicles sold, and Volkswagen Group, which achieved sales of…

Thailand’s Deputy Prime Minister and Commerce Minister Phumtham Wechayachai convened with automotive sector representatives, with the aim of harnessing Free Trade Agreements (FTAs) to catapult Thailand’s auto exports, securing its role as a prime automotive production and export hub globally. Discussions delved into strategies for operational cost reduction and export expansion pathways, spotlighting FTAs’ potential to unlock new export markets and boost Thai automotive products’ global competitiveness. Key topics included sourcing cost-effective raw materials and establishing strategic partnerships for Thai automotive enterprises, setting the stage for a more conducive business ecosystem. The proactive stance of the Ministry of Commerce, with…

Vietnam’s landscape for transportation is undergoing a pronounced move towards electric vehicles (EVs) and hybrids, marking a notable stride in consumer preferences for environmentally friendly transport solutions. Propelled by government incentives, including exemptions on registration fees and reductions in special consumption tax, the trajectory towards electrification is advancing at an impressive rate. The statistics from 2019 to September 2023 reveal a dramatic increase from 138 electric vehicles to over 28,000, complemented by 3,557 hybrid vehicles. This surge is supported by the adoption of over two million electric motorbikes, highlighting a national pivot to sustainable mobility options. Projections for Vietnam’s electric…

VinFast’s foray into the Indonesian market through partnerships with five premier dealers—GSU, BAM, and GNA in Jakarta, MCA in Medan, and Majesty in Batam—heralds a significant leap towards establishing its electric vehicle (EV) brand presence. This alliance underscores VinFast’s ambitious strategy to connect with Indonesian consumers, leveraging the country’s growing appetite for sustainable transportation. The introduction of the VF 5, VF e34, VF 6, and VF 7 models later this year post their official market launches, with pricing, sales details, order timings, and after-sales policies to be disclosed in the first half of 2024, positions VinFast at the forefront of…

Volkswagen Group and Mahindra & Mahindra (M&M) have solidified their alliance through a groundbreaking supply agreement. This accord involves the provision of essential electric components and unified cells for Mahindra’s avant-garde electric platform, INGLO, propelling forward the vision of e-mobility collaboration shared by these automotive behemoths. Initiated with a partnering arrangement and term sheet in 2022, this collaboration now advances decisively. The pact deepens Volkswagen and Mahindra’s partnership, setting a precedent for future joint venture enhancements. As the first external adopter of Volkswagen’s innovative unified cell concept—central to its battery strategy—Mahindra demonstrates commitment to electric vehicle innovation and efficiency. Spanning…