The European Union’s auto industry lobby has drafted a proposal that says the EU should use emergency regulations to delay the implementation of 2025 emissions targets for automakers by two years, Bloomberg reports. According to estimates made by the proposal’s European Automobile Manufacturers’ Association, the EU’s 2025 emissions targets call for each vehicle to emit about 95 grams of carbon per kilometer, forcing automakers to either stop production of about 2 million vehicles or face fines of up to 13 billion euros ($14.3 billion) for passenger cars and 3 billion euros for vans. According to […]
Bloomberg reports that Volkswagen Group Chairman Hans Dieter Pötsch urged the European Union to revise its emissions targets and provide a clear message to the auto industry. Pötsch said policymakers have set ambitious climate targets but have not yet fully considered the measures needed to achieve them, arguing that the targets must be set “based on reality” and give the industry more time. “Electric vehicles are the future of personal mobility, but I must emphasize that politicians are setting targets for the industry without the necessary infrastructure and without taking into account whether consumers are willing to participate.” […]
In a strategic shift, Volvo Cars has announced its decision to exit the vehicle subscription business. This move marks the end of a significant chapter in the company’s efforts to diversify its business model and adapt to changing consumer preferences in the automotive industry. Volvo Cars launched its subscription service, Care by Volvo, with the aim of offering customers a flexible and convenient alternative to traditional car ownership. The service allowed users to subscribe to a vehicle for a set period, covering all costs including insurance, maintenance, and repairs, under a single monthly fee. Despite its innovative approach and initial market interest, Volvo has decided to withdraw from this […]
In a significant development in the realm of autonomous driving technology, Uber and Waymo have announced the expansion of their autonomous ridesharing service to Austin, Texas. This strategic partnership marks a significant milestone in the advancement of smart transportation and offers Austin residents a groundbreaking new travel option. The collaboration between Uber and Waymo stems from a shared vision for the future of mobility. Waymo, a leader in autonomous driving technology under Google’s parent company Alphabet, has achieved notable success through extensive testing in several cities. Uber, with its vast network of ridesharing services and user base, is a crucial partner in this initiative. This expansion not only underscores […]
Chinese automotive giant Chery Automobile has announced a major investment in promoting its Omoda and Jaecoo brands in the European market. This strategic move marks a significant expansion of Chery’s international business and underscores its commitment and ambition in the European market. According to Chery’s statement, the company will invest hundreds of millions of euros into marketing, sales network development, and brand awareness efforts for the Omoda and Jaecoo brands. Omoda and Jaecoo represent Chery’s latest ventures in the fields of new energy and high-performance vehicles, with Omoda focusing on smart electric vehicles and Jaecoo on sporty SUVs. Chery’s CEO, Li Ming, stated, “The European market has high […]
According to the latest data, global electric vehicle (EV) sales in August 2024 surged by 20% compared to the same month last year. This increase highlights the robust growth trajectory of the EV market and underscores ongoing consumer interest in environmentally-friendly transportation solutions. The report released by Rho Motion reveals that August saw record-breaking global EV sales figures. This growth not only indicates a higher acceptance of electric vehicles in the global market but also reflects the concerted efforts of governments and automakers to promote green transportation. Several factors contribute to this growth. Firstly, increased government support worldwide-including purchase subsidies, tax breaks, and the development of EV infrastructure-has […]