Author: Central Desk

Genesis, Hyundai Motor Co.’s luxury vehicle division, recently marked a key achievement, exceeding one million global sales of vehicles. This triumph reflects the cumulative sales until the end of August 2023, with 690,177 units sold in Korea and 318,627 units sold overseas. This notable accomplishment was realized in under eight years since its global debut in November 2015, and just over two years after exceeding the half-million mark in May 2021. Mike Song, Global Head of Genesis, shared his thoughts on this achievement, stating, “Genesis has been taking audacious steps to create original experiences and values for customers since launching,…

With the worldwide push towards environmentally friendly transportation, JLR India is diligently observing the demand for battery electric vehicles (BEVs) in India. JLR India Managing Director, Rajan Amba, highlighted the unique demands of the Indian market, influenced by a variety of factors, and emphasized JLR’s dedication to meeting the high expectations of luxury consumers as they become more selective in their technology choices. Currently, the Jaguar I-Pace is the only electric model offered by the company in India. Yet, JLR has plans to start bookings for the new Range Rover BEV by year’s end. This move leverages the success of…

Park Young-sik, the South Korean Ambassador to Bangladesh, pressed Bangladesh to concentrate on local car production and lessen its reliance on imported, reconditioned used cars during his recent tour of the Fair Technology-Hyundai factory at the Bangabandhu Hi-Tech Park on 16 September. Young-sik pointed out that cars made domestically would be better for the environment and noted that several countries have already halted the import of old vehicles, a policy that Bangladesh could emulate. He underscored that broadening the manufacturing base in Bangladesh would generate quality employment opportunities and stressed the necessity for a refined taxation system to lure more…

Expanding its electric vehicle (EV) portfolio, Mercedes-Benz unveiled the EQE SUV in India, priced at a starting Rs 1.39 crore. This introduction is the third EV from the luxury automaker in the Indian market, following the EQB SUV and EQS sedan. The EQE 500 4Matic SUV, constructed on the Mercedes-Benz EVA platform, aligns with the global EQE sedan model. It derives power from a 90.6kWh lithium-ion battery pack, producing a potent 300kW (402bhp) and an impressive torque output of 858Nm. The vehicle is capable of reaching a maximum speed of 210kmph and can sprint from 0 to 100kmph in a…

US stocks experienced a downturn on Friday, as enthusiasm for tech stocks waned due to a historic strike within the US auto sector. Despite this setback, Asian and European stock markets were bolstered by encouraging economic data from China. The tech-influenced Nasdaq closed with a 1.6 percent decrease, while the Dow Jones Industrial Average and the S&P 500 also saw declines. This downturn was a result of traders assessing the repercussions of a strike initiated by the United Auto Workers (UAW) union at three major auto manufacturers, Ford, General Motors (GM), and Stellantis, following unsuccessful pay negotiations. Patrick O’Hare, a…

Taking a step forward towards a more sustainable mode of transport, North Northamptonshire Council has augmented its electric vehicle (EV) charging network by incorporating 32 new EV points across 17 different locations. This development, executed in conjunction with Believ, the UK’s rapidly growing EV charge point operator (CPO), is part of an ongoing initiative to provide accessible public chargers for residents lacking driveways or off-road parking. These newly installed charge points are anticipated to become functional in the forthcoming weeks. This new addition complements the 22 existing charge points located at 12 different sites, previously installed through a collaborative effort…

Global intelligent power management leader, Eaton, partnered with Michigan technology developer, Traxen, to distribute and support the installation of the groundbreaking iQ-Cruise system. This strategic alliance aims to enhance the commercial transportation sector by boosting fuel efficiency, environmental sustainability, and fleet profitability. Unlike conventional adaptive or predictive cruise control systems that operate independently, the iQ-Cruise system combines both functionalities into one device, utilizing artificial intelligence (AI) to enable automatic, natural speed control and significant fuel savings. This innovative system is compatible with automated manual transmissions, including the Eaton Cummins Automated Transmission Technologies portfolio. A monthly subscription fee covers all hardware,…

China has labeled the European Union (EU) as protectionist following its decision to investigate Chinese electric vehicle (EV) exports and subsidies. The Commerce Ministry of China decried the move as a ‘protectionist’ act with the potential to distort the global supply chain. On Wednesday, the EU disclosed its intentions to probe government subsidies provided to Chinese automakers, alleging that these subsidies artificially deflate EV prices. After investing billions in subsidies, China has ascended as the premier market for electric vehicles. This substantial investment enabled automakers such as BYD and Geely to rapidly expand their market share post-launch of EV sales…

Daimler Truck AG, along with its Japanese subsidiary Mitsubishi Fuso Bus and Truck Corporation, has commenced the handover of its pioneering next-generation Fuso eCanter to Yamato Transport Co., marking the beginning of the delivery of approximately 900 eCanters ordered by the company. This development represents the largest individual order for Fuso’s electric light-duty truck. Yamato Transport is undertaking this initiative as part of its commitment to significantly decrease its environmental impact by aiming for a 48% cut in greenhouse gas emissions by 2030, relative to 2020 levels, and striving for virtually no greenhouse gas emissions by 2050. The company will…

Leading auto manufacturers BMW, Ford, and Honda disclosed their agreement to form ChargeScape, a joint venture owned equally by all parties. ChargeScape is poised to transform the electric vehicle (EV) sector by developing a unified platform connecting electric utilities, automakers, and EV users, thus enabling financial benefits from a range of managed charging and energy-sharing services. This innovative step not only provides financial incentives to EV owners but also significantly aids the electric utility industry in the U.S. and Canada. Subject to regulatory approvals, ChargeScape is slated to start operations early next year. The launch of ChargeScape’s unified platform obviates…