Author: David Smith

Vietnam’s Vingroup has signed a memorandum of understanding (MoU) with JTA Investment Qatar to explore a potential investment of at least $1 billion in its electric vehicle subsidiary, VinFast, the conglomerate said on Tuesday. The agreement, which also covers Vingroup’s hospitality business Vinpearl, will facilitate discussions between the two firms on a possible collaboration. “Under the MoU, the companies will engage in discussions to define their future collaboration in pursuing mutually beneficial objectives,” Vingroup said in a statement. See also: VinFast Nearly Triples EV Sales in 2024, But Struggles Abroad VinFast, which was listed on Nasdaq in 2023, has been…

Chinese electric vehicle (EV) maker Xpeng will release its unaudited financial results for the fourth quarter and full year 2024 on March 18, before U.S. markets open, the company said on Monday. Xpeng’s management will host an earnings call at 8:00 a.m. U.S. Eastern time (8:00 p.m. Beijing time) on the same day. The Guangzhou-based automaker delivered 91,507 vehicles in the fourth quarter, surpassing the upper end of its guidance range of 87,000 to 91,000 units. See also: Xpeng to Launch Mona M03 Max With Enhanced Smart Driving in May The figure marks a 52.1% increase year-on-year and a 96.7% rise…

Volkswagen Group of America has recalled 60,490 electric vehicles due to a software issue that prevents the gear display from showing the correct position, posing a potential safety risk, the U.S. National Highway Traffic Safety Administration (NHTSA) announced. The recall affects the 2021-2023 Volkswagen ID.4, the 2022-2023 Audi Q4 e-Tron, and the 2022-2023 Audi Q4 e-Tron Sportback models. See also: Volkswagen ID.4 Tops Tesla Model Y as Europe’s Best-Selling EV in January The malfunction could prevent the vehicle from engaging the parking brake properly, increasing the risk of unintended movement and potential accidents. The issue violates Federal Motor Vehicle Safety…

The European Commission is set to introduce measures aimed at increasing electric vehicle (EV) adoption in the European Union and strengthening domestic battery production, according to a draft proposal seen by Reuters. The plan, expected on March 5, is intended to help European car manufacturers transition to electric mobility and compete with Chinese and U.S. rivals. The draft recommends steps for the 27 EU member states to accelerate EV uptake, particularly in corporate fleets, which account for around 60% of new car sales in the bloc. It also proposes exemptions from road charges for zero-emission heavy vehicles and explores financial…

New car sales in Europe declined by 2.1% in January, as rising demand for fully electric and hybrid-electric vehicles failed to offset weaker petrol and diesel sales, industry data showed on Tuesday. According to the European Automobile Manufacturers Association (ACEA), overall car registrations fell across key markets including France, Italy, Germany, and Britain, with Spain being the only major European market to post year-on-year growth. The decline brought total sales in the European Union, Britain, and the European Free Trade Association (EFTA) to just under 1 million vehicles—the lowest volume since August. See also: EU Urged to Maintain 2025 CO2…

French automaker Renault reported a record operating profit of €4.3 billion ($4.49 billion) for 2024, slightly exceeding expectations, as cost reductions and a wave of new model launches bolstered margins. The profit figure marked a 3.5% increase from the previous year and surpassed a company-compiled forecast of €4.2 billion. Revenue rose 7.4% to €56.2 billion, driven by the launch of new models, including the compact electric Renault 5 and a range of hybrid vehicles. Renault’s shares dipped in early trading but had gained 9% since the start of the year. JPMorgan analysts described the results as “a strong set of…

Volkswagen’s forthcoming small electric vehicle, anticipated to be priced around €20,000, will not have a corresponding model from its sister brand Skoda, according to company sources. Skoda has reportedly decided against producing a version of the compact electric car, citing concerns over potential financial losses. Volkswagen is set to unveil a prototype of its budget-friendly electric car on March 5. Unlike its predecessor, the e-Up!, which had variants from Skoda (Citigo e iV) and Seat (Mii electric), the new model will be exclusive to the Volkswagen brand. Production is slated for Volkswagen’s plant in Palmela, Portugal, which is currently being…

Audi has unveiled a new base version of its Q4 e-tron, the Q4 40 e-tron, which comes with a larger 63 kWh battery (59 kWh net), replacing the previous Q4 35 e-tron. The new version offers improved performance and extended range, further strengthening Audi’s electric vehicle lineup. The Q4 35 e-tron featured a 55 kWh gross (52 kWh net) battery and a 125 kW electric motor, providing WLTP ranges of up to 365 km for the Sportback and 355 km for the SUV. See also: Audi Abandons New Nomenclature Scheme, Announces Return to Traditional Model Naming With the upgraded 59…

Kia will showcase three new electric vehicles during its EV Day event on February 27 in Tarragona, Spain, marking a significant step in the company’s ongoing electrification strategy. The vehicles on display include the highly anticipated EV4 sedan and hatchback, the PV5 electric van, and the EV2 concept, a compact electric crossover. See also: Kia EV6 GT Gets Nearly $20,000 Lease Discount as 2025 Model Arrives https://youtu.be/vcIZfVJj2Kc The debut of the EV4 is expected to be one of the key highlights. The model, which has been previewed through a concept and several spy shots, is set to be offered globally…

Volkswagen is offering UK buyers a £1,000 discount on new all-electric models from its ID. range until March 3, the automaker announced on Thursday. The incentive applies to the ID.3, ID.4, ID.5, ID.7, ID.7 Tourer, and ID. Buzz, with additional financing benefits available through Volkswagen Financial Services. The discount is valid for both cash buyers and those financing their purchase. Customers opting for a personal contract plan (PCP) through Volkswagen Financial Services will receive further deposit contributions, including £1,700 for the ID.7 and ID.7 Tourer, and up to £8,900 for the ID.5, in addition to the £1,000 reduction. See also:…

Volkswagen has given employees a first look at its upcoming ID.1, a small electric car designed to offer an affordable entry into the electric vehicle market. The car, which is expected to have a base price of around €20,000, was unveiled at a works meeting at the company’s headquarters in Wolfsburg, Germany. While a teaser image of the concept car was released to the public, the official premiere is scheduled for March, where a show car will offer a preview of the vehicle. However, the public presentation will not include the production model. See also: Volkswagen Considering VW ID.1 as…

General Motors (GM) is set to reintroduce the Chevrolet Bolt EV, with the next-generation model expected to debut in 2025. The upcoming Bolt will be part of a “family of Bolts,” including a more affordable option, according to GM President Mark Reuss. The new Bolt is anticipated to feature several enhancements over its predecessor, which was discontinued in late 2023. CEO Mary Barra stated that the vehicle will offer “an even better driving, charging, and ownership experience” by incorporating GM’s latest technology and connectivity software. See also: GM Claims Next-Gen Chevrolet Bolt to Be the Most Affordable EV on the…

MAN has delivered the first ten of its eTGX Ultra electric long-distance trucks to logistics company DB Schenker as part of a planned fleet expansion. These trucks, specifically developed for high load volumes, are designed to accommodate mega trailers with an interior height of three meters, a feature essential in industries like automotive and logistics with high space requirements. The vehicles are set to be used for a variety of transport tasks, including scheduled services and deliveries to key sectors. The handover took place at MAN’s Munich plant this week, with DB Schenker taking delivery of the first ten vehicles,…

The Tata Prima E.55S is an electric heavy-duty truck developed by Tata Motors, designed to support the decarbonization of logistics operations across various industries. With a gross vehicle weight (GVW) rating of 55 tonnes, the Prima E.55S is suited for applications in sectors such as cement, ports, steel, coal, and container shipping. Equipped with a 470 kW powertrain, the Prima E.55S offers a range of 200-350 km, depending on the battery configuration chosen. Tata Motors provides multiple battery pack options, ranging from 300 kWh to 450 kWh, to meet different operational requirements. The truck also features dual-gun fast charging capabilities…

Tesla CEO Elon Musk announced during the company’s fourth-quarter earnings call that it plans to launch its first unsupervised Full Self-Driving (FSD) service in Austin, Texas, in June 2025. This will mark Tesla’s first deployment of a driverless service on public roads globally. The announcement follows the unveiling of Tesla’s Robotaxi Cybercab in October 2024, when the company outlined plans to introduce driverless rides in Texas and California by 2025. See also: Tesla Deploys Autonomous Vehicle Movement at Factory Loading Bays Musk explained that Austin was selected as the initial location to allow Tesla to “dip its toe in the…

Flexis, the electric van joint venture established by Renault, the Volvo Group, and logistics firm CMA CGM, has announced its first three models, boasting a WLTP range of up to 450 kilometres. Series production is set to begin in 2026, with logistics providers DB Schenker, Colis Privé, and HIVED among the first confirmed customers. Founded in 2024, Flexis aims to revolutionize urban logistics with a new generation of fully connected electric vans. Renault and the Volvo Group collectively hold 90% of the joint venture, while CMA CGM owns the remaining 10%. Production will take place at a Renault facility in…

Lucid Group has appointed Taoufiq Boussaid as its chief financial officer, the electric vehicle (EV) maker said on Tuesday, filling the role more than a year after Sherry House stepped down. Boussaid, previously group CFO at Belgium-listed steel and coatings company NV Bekaert SA, contributed to reducing the company’s debt load from July 2019 to October 2024, Lucid said. He will assume his new role on Feb. 25. See also: Lucid Unveils New AI Assistant, Enhancing Vehicle Interactions for Drivers “Taoufiq is joining Lucid at a pivotal time as we ramp up production of the Lucid Gravity SUV and accelerate…

Cadillac’s electrification journey has taken a bold leap with the introduction of the 2026 Lyriq-V, marking the brand’s first fully electric V-Series model. Designed to blend luxury with adrenaline, this high-performance crossover claims the title of the quickest road-going Cadillac ever created. Here’s a comprehensive look at what sets the Lyriq-V apart in the evolving electric vehicle landscape. Under the hood—or rather, beneath its sleek exterior—the Lyriq-V packs a formidable punch. A dual-motor all-wheel-drive system, powered by a 102 kWh lithium-ion battery, generates an estimated 615 horsepower and 650 lb-ft of torque. While these figures mirror those of Cadillac’s three-row…

Tesla’s brand reputation in the United Kingdom may be under strain due to CEO Elon Musk’s actions, with a new survey revealing a shift in consumer preferences toward electric vehicles (EVs) from Chinese manufacturers. The study, conducted by EV advice platform Electrifying.com, surveyed 1,000 participants, including current EV owners and prospective buyers. See also: Tesla’s Updated Model Y Juniper Also Debuts in Europe, Starting at €60,990 It found that 59% of respondents were deterred from considering Tesla vehicles because of Musk’s influence. Furthermore, 61% of current EV owners and 56% of potential buyers expressed openness to purchasing EVs from Chinese…

The New South Wales Rural Fire Service (NSW RFS) is currently testing a Volvo FM Electric semi-truck as part of its efforts to assess the viability of low- and zero-emission vehicles in its emergency vehicle fleet. The truck recently completed a 550-kilometer route from the RFS logistics headquarters in Glendenning, New South Wales, to Albury, towing a water tanker, and was displayed at the NSW RFS Championships in Thurgoona. The vehicle’s performance is being evaluated for potential future use in the agency’s operations. See also: Hypnos Beds Transitions to Electric Deliveries with Volvo FM Electric Trucks “This drive presented a…