Author: Central Desk

KPMG’s latest survey uncovers a downturn in global automotive executives’ confidence toward the battery-electric vehicle (BEV) transition, except in China. Rising cost concerns, material access issues, and fierce competition mark a challenging phase for the electric vehicles (EV) Industry. Engaging over a thousand industry leaders, the survey indicates a sharp decrease in optimism. Japanese executives’ confidence plummeted from 32% to just 10%, while Western Europe witnessed a fall from 31% to 24%. The U.S. saw a similar trend, with a dip from 48% to 43%. Contrasting last year’s high hopes about revolutionizing the industry with innovative electric cars, current sentiments…

Stellantis, a leader in the global auto industry, has earmarked a formidable Rs 2,000 crore investment for its Citroen brand in Tamil Nadu. This influx, distributed over six years, will escalate the firm’s investment in the region to a staggering Rs 3,250 crore. Unveiled at Chennai’s Global Investors Meet, this commitment aligns seamlessly with India’s ‘Make in India’ vision. It signals a pivotal shift for the automotive sector in Tiruvallur district, promising a boost to both traditional and electric vehicle manufacturing. The investment targets not just capital expenditure but also the pursuit of breakthroughs at the Chennai Tech Center. Stellantis…

A groundbreaking announcement from Luminar and the Mercedes-AMG PETRONAS Formula 1 Team sets the stage for a transformative era in motorsport safety and performance. Starting in 2024, this strategic partnership pivots on integrating Luminar’s avant-garde LiDAR technology into the adrenaline-fueled domain of Formula 1, expanding on Luminar’s existing ties with Mercedes-Benz. LiDAR: The New Vanguard of F1 Safety The heart of this venture is LiDAR (Light and Detection Ranging) technology. Luminar’s innovative system, integrated with AI software, excels in detecting objects at high velocities and in varying conditions. Developed from the chip level, this system operates at an advanced wavelength,…

Prime Minister Narendra Modi’s strategic discussions with world-leading CEOs at the Vibrant Gujarat Summit signal India’s thrust towards significant economic growth and employment generation. This prelude to the January 10 inauguration saw Modi delving into high-octane discussions with leaders from Suzuki Motor Corp, Micron Technology, and AP Moller, signaling India’s aggressive pursuit of economic revitalization and job creation. The tête-à-tête with Toshihiro Suzuki of Suzuki Motor Corp unfurled a grand plan for Maruti Suzuki. Envisioning India as a powerhouse in the global auto arena, their blueprint involved catapulting Made-in-India vehicles to international markets, underpinned by avant-garde practices in vehicle scrapping…

A pivotal development within the electric vehicle (EV) realm unfolded as onsemi, a frontrunner in intelligent power and sensing technologies, reinforced its partnership with Li Auto, a leading Chinese new energy vehicle manufacturer. This strategic move signifies a critical step towards electrifying automobiles and elevating driving safety standards. Li Auto previously incorporated onsemi’s sophisticated 8-megapixel image sensors in its extended-range electric vehicle (EREV) models. The strengthened partnership escalates this collaboration, positioning Li Auto to utilize onsemi’s EliteSiC 1,200V bare chip in upcoming 800V high-voltage electric models. This decision reflects Li Auto’s dedication to enhancing its vehicle technology, focusing on safety…

Ottawa engages with Honda Motor for a groundbreaking electric vehicle (EV) factory, signaling a paradigm shift in Canada’s automotive landscape towards clean energy. This initiative is a segment of Ottawa’s ambitious plan to transform the national auto sector, steering away from fossil fuels. A senior government official, preferring anonymity, conveyed to The Globe and Mail about a slated meeting this week between federal officials and Honda representatives. This dialogue builds on previous interactions from December. Japanese media Nikkei highlights an anticipated $18.5 billion investment by Honda, poised to be Canada’s most significant EV production venture. This surpasses investments for the…

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…