Author: Central Desk

Valeo, a global frontrunner in mobility technology, forges a strategic alliance with Mahindra & Mahindra (M&M), India’s top SUV maker, to revolutionize India’s EV landscape. This collaboration, a nearly 1 billion dollar endeavor, integrates Valeo’s advanced electric powertrain into M&M’s ‘Born Electric’ passenger vehicle platform, as revealed in Valeo’s recent Q3 financial results, marking a significant step in electrifying Indian roads. This partnership signals a transformative phase for both entities, with Valeo planning a significant investment near M&M’s Pune facility in Maharashtra. This initiative aims to localize electric powertrain production in India, encompassing the motor, inverter, gearbox, and a unique…

Volvo Cars stepped up its game in the electric vehicle (EV) platform with the unveiling of its Volvo EM90 Premium Multi-Purpose Vehicle (MPV), a game-changer set to debut in China, the world’s leading car market. The EM90 is designed to offer more than just transportation; it aims to be a comfortable, mobile living space, perfect for spending quality time with family and friends. This launch represents Volvo’s dedication to innovation and its ability to cater to specific market demands. The choice of China as the initial market aligns with the growing popularity of MPVs in various parts of Asia, particularly…

Fisker, an American automotive company marks a pivotal expansion with the launch of Fisker Lounge NYC. Opened on November 10th, this hub is nestled at 401 W. 14th Street, New York City’s Meatpacking District. This initiative represents Fisker’s first foray into the U.S. East Coast, following their flagship Fisker Lounge at The Grove in Los Angeles. Fisker Lounge NYC transcends traditional showrooms, offering an immersive journey into sustainable mobility. Accessible daily from 10 AM to 6 PM, the space invites guests to explore the all-electric Fisker Ocean. Henrik Fisker, the company’s Chairman and CEO, highlights New York’s role as a…

The Rimac Nevera, an electric hypercar, has redefined automotive limits by achieving the highest reverse speed ever for a production car. At Germany’s Automotive Testing Papenburg Centre, test driver Goran Drndak propelled the Nevera to a staggering 274 kph, covering more than a kilometer backward. This performance owes much to the Nevera’s innovative electric powertrain. The car’s four individual motors, each operating independently, enable it to generate equivalent torque both forward and in reverse. This unique capability allows the Nevera to reach speeds previously unthinkable for reverse travel. The car’s aerodynamics also play a crucial role. The active rear spoiler,…

Mercedes-Benz is revolutionizing the automotive sector’s digital sphere. The brand’s ‘Enterprise Transformation – 100% Digital’ campaign is a bold step towards digital dominance in the auto industry. Central to this transformation is the strategic use of Free and Open Source Software (FOSS). This approach spans vehicle development, integrated software, mobile applications, and enterprise software, marking a significant shift in Mercedes-Benz’s operational model. Jan Brecht, Chief Information Officer at Mercedes-Benz Group AG emphasizes, that FOSS is not just a cost-cutting tool but a magnet for elite talent and a booster for innovation. The Mercedes-Benz FOSS Manifesto, launched at the start of…

India embarks on an ambitious journey to transform its automotive industry, setting a goal of a staggering $600 billion market value by 2035, a significant leap from the current $250 billion. This bold initiative aims to elevate India’s status in the global automotive arena, steering it towards worldwide auto dominance. Strategic Vision: India as a Global Competitor A strategic blueprint for this growth involves positioning India as a strong global competitor. A key aspect of this strategy, as highlighted in Arthur D Little’s report, is India’s potential role as a ‘China-plus-one’ alternative. Central to this plan is the focus on…

The automotive industry, a key player in the global decarbonization effort, faces significant challenges in meeting Net Zero targets by 2050. This stark reality emerges from KPMG’s 2023 Net Zero Readiness Report, highlighting the complex interplay between technological advancements, economic pressures, and varying global progress. Despite notable advancements in the automotive sector, particularly in the development of battery-electric vehicles, the pace of growth is inconsistent worldwide. This variation is partly due to the uneven development of essential charging infrastructure, which is struggling to keep up with the rapid expansion of electric vehicles. Diverse Global Responses: KPMG’s report, derived from discussions…

Hyundai Mobis, a key subsidiary of the Hyundai Group, has recently achieved a groundbreaking electrification strategy. The company has secured a substantial green loan of $940 million, earmarked for establishing an electrification hub in North America. This move represents a significant step in its global expansion efforts. Navigating Economic Challenges to Secure Investment Despite challenging economic conditions marked by fluctuating national currencies and rising interest rates, Hyundai Mobis successfully navigated these obstacles. The deal, involving seven international financial institutions, features a long-term, low-interest loan over ten years, reflecting the growing optimism in the electrification market’s future. First Overseas Green Loan…

Polestar Automotive Holding UK, renowned for its electric performance cars, has rolled out a revised business plan, setting a course for enhanced profit margins and a leaner funding model to achieve cash flow equilibrium by 2025. The Swedish marque is recalibrating its operational focus, pivoting from volume to profitability. With an aim for a high-teen gross margin by the fiscal year 2025, Polestar targets the production of 155,000 to 165,000 cars annually. This objective is expected to be met through a more lucrative product range featuring four models, a streamlined cost structure, and strategic adjustments in pivotal markets, including a…

Nissan, the renowned Japanese carmaker, celebrates two decades-plus of Brazilian operations with an ambitious move, reinforcing its commitment to the region. The company has declared a substantial boost to its 2023-2025 investment strategy, pouring as much as $575 million into the South American country, a step that resonates with its global Ambition 2030 initiative. At a significant event hosted at the Resende Industrial Complex located in Rio de Janeiro, CEO Makoto Uchida, flanked by Rio’s Governor Claudio Castro and other distinguished guests, revealed plans for the near future. This influx of funds is earmarked for launching two novel sports utility…