Author: Central Desk

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…

Scania, the commercial vehicle powerhouse, has forged a partnership with digital road freight leader sennder to form JUNA, an innovative joint venture poised to revolutionize the adoption of electric trucks across Europe. This strategic move aims to accelerate the shift towards a greener road logistics sector by offering a comprehensive service suite encompassing state-of-the-art electric vehicles, maintenance, insurance, and a suite of digital and analytics tools. The essence of JUNA’s business approach lies in mitigating the typical challenges associated with transitioning to electric vehicles in freight operations. Through a model that bases fees on usage and assures vehicle utilization, coupled…

The Fiat Strada, Brazil’s renowned market-conquering compact pickup, is charting a fresh path of success as it gears up for its launch in the Middle East and Africa (MEA). Fiat, with a notable presence as a market frontrunner in Brazil, Turkey, and Italy, has embarked on an ambitious journey to further cement its international stature, targeting an enthusiastic reception from the MEA market come November 2023. Birthed in the vibrant automotive realm of Brazil 25 years ago, the Strada has been a transformative force, swiftly ascending to the top of the sales charts and consistently holding its ground since 2021.…

Honda Motor stands at the forefront of motorcycle innovation with the introduction of the E-Clutch system, a first in the world for motorcycles. This advanced system simplifies the act of starting and shifting gears by automating clutch control, a feature sure to entice riders of all levels. The E-Clutch system from Honda eliminates the manual operation of the clutch lever on multi-gear manual bikes, smoothing out the ride and enhancing the user experience. Its electronic control technology delivers seamless riding, managing clutch engagement during starts, stops, and gear changes. The system is designed with versatility in mind, offering riders the…

Toyota Motor Europe has initiated production of the Toyota C-HR, unveiling a plug-in hybrid model that harnesses locally assembled batteries, marking a pivotal step in Toyota’s electrification strategy in Europe. This move comes as part of a €308 million investment aimed at modernizing the Toyota Motor Manufacturing Turkey facility, highlighting Toyota’s push into the hybrid market on the continent. Since its debut, the Toyota C-HR has been a game-changer for the European C-SUV segment, boasting sales of over 800,000 units and propelling Toyota’s market share in Europe from 4% to a solid 7%. The new model lineup features a suite…

SK On, a prominent player in EV battery technology, has secured a contract to supply advanced battery cells to Polestar, the Swedish purveyor of electric performance automobiles. This agreement ensures that from 2025, the anticipated luxury coupe, the Polestar 5, will feature SK On’s latest battery cell technology. As the EV landscape shifts swiftly towards more sustainable and high-performance options, the integration of SK On’s pioneering high-nickel battery cells with Polestar’s vision for its grand tourer sets a new standard for luxury EVs. Thomas Ingenlath, CEO of Polestar, stated, “Our relationship with SK On has been fruitful following our initial…

Renault has launched its ‘Human First’ program, a comprehensive effort aimed at enhancing electric vehicle (EV) fire safety protocols globally. This initiative marks a significant partnership with firefighting teams around the world, encompassing Australian fire and rescue organizations. Aligned with the Australian debut of the Renault Megane E-Tech BEV, the ‘Human First’ program, supported by Renault’s local distributor Ateco Automotive, signals the company’s dedication to ensuring the safety of all road users. This strategy rests on three fundamental safety pillars: the development of advanced driver-assistance systems for accident prevention, a unique global collaboration for efficient road accident management, and robust…

For redefining luxury motoring in Qatar, Auto Class Cars has proudly showcased Lynk & Co’s sophisticated vehicle lineup at their Salwa Road showroom. This strategic partnership with the luxury Chinese-European automotive brand marks a significant enrichment of Auto Class Cars’ portfolio, a subsidiary of the renowned Nasser Bin Khaled Group. Frank Zauner, General Manager at Auto Class Cars, expressed enthusiasm about the collaboration: “At Auto Class Cars, we are pleased to partner with Lynk&CO to become the company’s authorized general distributor in Qatar. Under the patron NBK Group, LYnk & Co will offer unique options to customers who want to…