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Partnerships
XPENG and Volkswagen forge strategic partnership in EV collaboration
Volkswagen will invest US$ 700 Mn to jointly develop two BEV cars for the Chinese market, with manufacturing set to begin in 2026. They will also investigate future EV platforms, software technologies, and supply chain optimization. Read More>>
Audi and SAIC Motor confirm EV partnership in China
The collaboration between Audi and SAIC Motor intends to speed electrification in the rapidly growing Chinese EV industry, with Audi potentially leveraging SAIC’s EV platform for production variants of its concept vehicles. Read More>>
Deals
ElringKlinger secures a series of production contracts from a global Tier 1 supplier
ElringKlinger AG has received an order from an undisclosed supplier for metal battery housings for commercial vehicles and city bus applications in the US market. The five-year series production contract has a total order volume in the low triple-digit million-euro range. Read More>>
Scania secures significant truck orders in the UK
Scania received a substantial order from Culina Group, WS Group, and A.W. Jenkinson Group for 2,500 vehicles to be delivered over 12 months, including 100 battery-electric trucks. This is one of Scania’s largest single European orders, as well as the largest battery-electric truck order in a year. Read More>>
Centre Setup and Expansion
VinFast breaks ground on electric vehicle facility in the US
VinFast has begun construction on its electric vehicle production facility in North Carolina, USA, with an initial investment of up to US$ 2 Bn. Starting in 2025, the facility will produce VF 7, VF 8, and VF 9 electric vehicles, with an annual manufacturing capacity of 150,000 vehicles. Read More>>
Commercial Vehicle Group opens its first plant in Chihuahua
Commercial Vehicle Group has invested US$ 10 Mn in its new plant in Chihuahua, Mexico, which would create 300 jobs in 2023 and 1,400 more by mid-2024, with the possibility of 1,000 more jobs by 2025. The factory will produce harnesses and robotic assembly for a variety of markets. Read More>>
Executive Movements
Tata Motors appoints Rajesh Kannan as President and CDIO
Rajesh has 28 years of expertise in creating disruptive digital and IT solutions for multinational enterprises across multiple industries. He previously worked for Tata Consultancy Services Limited before joining Tata Motors. Read More>>
Rivian names Alan Hoffman as Chief Policy Officer
Alan Hoffman has over 30 years of experience and has previously held executive positions at Carvana, Herbalife Nutrition, and PepsiCo. Hoffman also has a history in public policy, having worked in the United States government and on several non-profit boards. Read More>>
Layoff
Lotus Cars to cut 200 jobs following heavy losses
Lotus Cars, owned by Geely, will lay off up to 200 employees to develop a leaner and more competitive structure. The company’s recent financial statements reveal a deficit before tax of GB£ 145.1 Mn (US$ 184.1 Mn) in 2022, with sales falling to 576 vehicles despite the launch of new models. Read More>>
Product Launch
Leapmotor unveils centralized electronic/ electrical architecture ‘LPEE3.0’
Leapmotor has released LPEE 3.0, its centralized electronic and electrical architecture, which provides central supercomputing capabilities for intelligent driving, cabin, powertrain, and body control tasks. The first vehicle with this architecture will be released in September 2023. Read More>>
Toyota Philippines launching New Yaris Cross on August 04
Toyota Motor Philippines will launch the All-New Yaris Cross, a sporty crossover SUV with Hybrid Electric Vehicle and petrol variants, on August 4, 2023, to expand EV alternatives and promote sustainable transportation in the Philippines. Read More>>
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