According to Bloomberg, 50 companies including Volvo Cars, Rivian, Uber Technologies Inc. and IKEA of Sweden AB and Spain’s electric utility Iberdrola SA have urged the European Union to stick to its plan to ban the sale of new fuel cars from 2035 and said the auto industry needs clear policies in order to invest and work towards the EU’s goals. Electrification is the biggest action the automotive industry can take to reduce its carbon footprint,” said Jim Rowan, CEO of Volvo Cars. It is crucial that the EU’s carbon emissions targets for 2035 are set in order to […]
According to Reuters, on October 4, the Society of Motor Manufacturers and Traders (SMMT) warned that the UK electric vehicle market may not be able to achieve its expected targets under the Zero Emission Vehicle (ZEV) regulations by 2024 and called on the New Labour government to introduce incentives to encourage private consumers to accelerate their shift to electric vehicles. The above is reportedly from an open letter to Chancellor of the Exchequer Rachel Reeves, which was signed by several automakers and SMMT CEO Mike Hawes, who reiterated his call for (the UK government) to halve the tax on […]
To boost sales, Ford Motor Company has announced that it will provide free home chargers to electric vehicle consumers in the United States by the end of 2024. This new initiative aims to reduce the cost of ownership for consumers and enhance the appeal of electric vehicles, particularly in the context of increasing market competition. Ford stated that the free chargers will not only make it more convenient for owners to charge at home but also improve the overall user experience of electric vehicles. The company hopes that this measure will encourage more consumers to choose electric vehicles and promote the development of sustainable transportation. The initiative has […]
On September 30, 2024, British luxury car manufacturer Aston Martin issued a warning that, due to disruptions in the automotive parts supply chain and a sluggish Chinese market, the company expects its core profits for the year to decline. Additionally, Aston Martin has lowered its full-year production forecasts. This news triggered significant market attention, causing the company’s shares to drop by 8% in early trading. Analysts point out that supply chain issues and changing market conditions pose significant challenges for luxury car manufacturers, and Aston Martin’s adjustments reflect the broader pressures faced by the industry. Despite its esteemed reputation in the luxury automotive sector, these external factors create uncertainty […]
In August 2024, Chinese electric vehicle sales in the European market fell by 48% year-on-year, a phenomenon that has garnered widespread attention within the industry. The decline in sales is primarily attributed to intensified market competition, heightened consumer demands for product performance and pricing, as well as supply chain challenges faced by some brands. Amidst this backdrop, BYD has achieved growth, with a noticeable increase in sales, further solidifying its market position in Europe. Analysts point out that BYD’s success can be attributed to its ongoing innovations in battery technology, smart driving, and vehicle design. Additionally, BYD’s flexible market strategy, including the launch of models tailored to local demands […]
According to foreign media reports, the U.S. National Highway Traffic Safety Administration (NHTSA) said on September 27 that Toyota Motor Corp. will recall more than 42,000 vehicles in the U.S. due to the malfunctioning of the Power Brake Assist system in these vehicles, which may lead to longer braking distances. Like many recent automobile recalls, this Toyota recall stems from a software issue.The NHTSA noted that there is a software error in the electronic control unit that manages the vehicle during skidding, which can cause the vehicle’s braking assistance to malfunction during cornering. Power brake assist failure can lengthen the […]