Author: News Desk

China’s Xiaomi Corporation has declared plans to enter the European electric vehicle (EV) market by 2027, following the company’s recent entry into the EV industry in China, where it has experienced notable growth over the past year. According to Bloomberg, Xiaomi is aiming for significant growth in its electric vehicle operations. The company’s President, Lu Weibing, shared more details about the expansion following a 31% rise in quarterly revenue, driven by the successful launch of its second EV earlier this summer. Xiaomi made its debut in the automotive industry in 2023 with the launch of its first electric sedan, the…

BlueOval SK, a joint venture between Korea’s SK On and U.S. automaker Ford, officially launched commercial production of EV batteries at its new Kentucky facility in Glendale on Tuesday. Established in July 2022, the equally owned joint venture has committed to invest $11.4 billion in three EV battery facilities across the U.S.—two in Kentucky and one in Tennessee. “The start of production is a significant milestone that strengthens our position in the EV battery market. BlueOval SK is creating good-paying American jobs, strengthening the domestic supply chain, and driving the transition to zero-emissions transportation,” said BlueOval SK CEO Michael Adams.…

Chinese electric vehicle manufacturer Nio has revealed its global expansion strategy for 2025 and 2026, with plans to enter the markets of Uzbekistan, Singapore, and Costa Rica. Nio, recognized for its innovative battery charging and swapping technology, is set to enter the Singapore market in the first quarter of 2026 through a multi-brand dealership group, Wearnes Automotive. Singapore will mark Nio’s debut in Southeast Asia, with the compact electric hatchback, Firefly, as its first model to hit the market. The company says the move will expand Nio’s international footprint and meet the rising demand among local consumers for sustainable and…

Audi has commenced mass production of the fully electric E5 Sportback, the inaugural model of its newly formed, China-only AUDI brand, at the SAIC-Volkswagen plant in Anting, Shanghai. The vehicle marks the debut of a new line of intelligent electric models under the Audi brand, developed through a strategic collaboration with Chinese automaker SAIC. Pre-sales for the electric fastback are underway, with initial deliveries scheduled for September 2025. Unveiled at the Shanghai Motor Show in April, the AUDI E5 Sportback is the first model built on the brand’s newly developed Advanced Digitized Platform (ADP). It is available in several variants,…

Tesla has significantly cut leasing costs for several of its top-selling models in the UK, slashing prices by nearly half following a sharp drop in summer sales. In response to a 60% year-on-year decline in July registrations, down to just 987 vehicles from 2,462 the previous year, the company is now offering discounts of up to 40% to car leasing firms in an effort to stimulate demand and clear inventory. According to industry experts, Tesla’s recent leasing discounts aren’t just a reaction to declining market share. Limited storage capacity for unsold vehicles in the UK has also pushed the company…

Chinese automaker Dongfeng Motor Group plans to sell its 50% stake in its joint venture with Japan’s Honda Motor, according to a filing published on the Guangdong United Property Rights Exchange. The state-owned Dongfeng Motor has listed its 50% stake in the Dongfeng Honda Engine joint venture, which manufactures combustion engines for Honda vehicles in China, for sale. The offering was posted on the Guangdong United Assets and Equity Exchange on Monday, with bids accepted until 12 September, as reported by Electrive. However, the exchange has not yet specified a minimum price, leaving the financial implications of the sale uncertain.…

Malaysian automaker Proton is steadily moving toward locally assembling its own electric vehicles (EVs), as construction of its new CKD (completely knocked down) EV plant in Tanjung Malim nears completion. Proton has completed 90.4% of the plant’s development in just six months and expects to begin operations as early as September Located within the advanced Tanjung Malim complex in Perak, the facility has achieved 83.5% progress in equipment installation, with overall progress now at 86.9%. Once fully operational, the plant will manufacture several EV models based on the Global Modular Architecture (GMA) platform, Proton confirmed in a statement. Featuring a…

Tesla has raised the prices of the Model S and Model X by $10,000, including added benefits such as the Full Self-Driving package, free Supercharging for a lifetime, Premium Connectivity, and a new four-year Premium Service plan. In an effort to stir up interest, the automaker is revising its pricing and standard features. Tesla is now including the new ‘Luxe Package’ as a standard offering on all Model S and Model X vehicles. The package bundles Full Self-Driving (FSD), which was previously sold separately for $8,000, with every Model S and Model X. While the company says FSD will eventually…

VinFast Auto Limited will transfer a part of its research and development (R&D) assets to a new company, which founder and CEO, Pham Nhat Vuong, plans to acquire for approximately $1.5 billion, in an effort to improve the company’s financial standing. The move comes as the Vietnamese automaker continues to grapple with financial difficulties despite a rise in revenue. The Novatech Research and Development Joint Stock Company will be spun off from VinFast Trading and Production JSC (VFTP), which serves as VinFast’s core production and R&D arm in Vietnam. The newly formed Novatech will take ownership of specific completed development projects…

Volkswagen Group China and XPeng declared that their collaboratively developed zonal electrical and electronic system, known as the E/E Architecture, is set for wider implementation. XPeng and Volkswagen revealed the expanded scope of their E/E architecture partnership on Friday in China. Initially centered on electric vehicles under a July 2024 Master Agreement, the collaboration now extends to internal combustion engine (ICE) and plug‑in hybrid (PHEV) platforms. The broader integration supports Volkswagen’s push toward software‑driven mobility by enabling faster software iteration, over‑the‑air updates, and streamlined production timelines. “This expanded technical collaboration on E/E Architecture marks another milestone in the long-term strategic partnership…