On October 30, Japan’s Suzuki Motor and Toyota Motor said in a statement that Suzuki Motor’s Indian subsidiary will supply Toyota Motor with its first electric vehicle. Boosted by the news, Maruti Suzuki’s shares rose by about 4%, close to the intraday high. Maruti Suzuki, which is controlled by Suzuki Motor, will start producing the electric vehicle at its plant in Gujarat, western India, in the spring of 2025. The plant plans to add a fourth production line, which will be used only for the production of electric vehicles, with an annual production capacity of 250,000 vehicles. Suzuki has no plans to produce the model anywhere else except the Gujarat […]
On October 29, 2023, the European Commission officially announced the conclusion of its anti-subsidy investigation into Chinese electric vehicles and decided to impose a five-year final tariff on pure electric vehicles imported from China. This decision was published in the EU’s official gazette, meaning the tariffs will take effect on October 30. The investigation was initiated due to concerns over the rapid expansion of the Chinese electric vehicle market and its potential impact on the EU automotive industry. The European Commission believes that Chinese EV manufacturers have an unfair competitive advantage, partly due to subsidies provided by the Chinese government to their electric vehicle sector. This decision by the […]
Automaker Stellantis announced today that its plant in Melfi, southern Italy, will begin production of the all-new Lancia Gamma mid-size car starting in 2026. This decision marks a significant step in revitalizing the Lancia brand and aims to re-establish its presence in the market. The CEO of Stellantis stated, “We are confident in the future of Lancia. The Gamma mid-size car will be a key milestone for the brand. We will leverage the advanced production technology at the Melfi plant to ensure the Gamma excels in quality and performance.” The Melfi plant is an important production base for Stellantis in Italy and has made several investments in electrification and […]
Honda Motor Co. has announced a recall of approximately 780,000 vehicles in North America to address the risk of cracks in high-pressure fuel pumps that could lead to fuel leaks. This recall involves 720,000 vehicles in the U.S. market and about 61,000 in Canada. In a statement, Honda confirmed that some models had been found to have fuel leak and odor issues, prompting the company to halt shipments of the affected vehicles since September this year to prevent potential safety hazards. The recall aims to protect consumer safety and ensure the reliability of the vehicles. Consumers are advised to contact Honda dealerships as soon as possible for more information […]
According to foreign media reports, industry data released by British Automobile Manufacturers and Trade Associations (SMMT) shows that in September this year, British automobile production fell for the seventh consecutive month because the factory gradually reduced the production of existing models in order to transform the transformation in order to transform the transformation , Prepare for the production of new zero -emission vehicles (ZEV). SMMT said that in September, a total of 70,039 cars in the UK were offline, a year -on -year decrease of 20.6%. This drop is due to the strong performance of September last year, […]
Tesla recently announced its financial results for the third quarter of 2024, showcasing strong performance. According to the report, the company’s vehicle sales increased by 6.4% year-over-year, reaching 462,890 units. Meanwhile, total revenue grew by 8% to $25.2 billion. In the automotive segment, Tesla also experienced positive growth, with automotive revenue rising by 2% to $20 billion. Notably, the automotive sales profit margin improved from 14.3% in the previous quarter to 17%, exceeding analysts’ expectations of 14.9%. This increase reflects Tesla’s success in controlling costs and optimizing production efficiency. The company’s net profit was equally impressive, totaling $2.2 billion, a 17% increase compared to the same period last year. Tesla […]