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Automotive DECODED

Latest edition: 09 May 2024
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Spotlight

In data: India market slows, but rebound expected

GlobalData analysis shows that despite a slowdown to LV sales in March, a rebound is expected after the elections

Latest news

China PV sales fall 2% in April

Retail sales of light passenger vehicles in China fell 2% year on year to 1.585m units in April and 6% month on month, according to the China Passenger Car Association (CPCA), despite the Chinese government’s ongoing efforts to stimulate domestic consumption.

Toyota foresees FY25 profit decline

Toyota Motor reportedly has forecast a 20% profit decline in the current financial year ending 31 March 2025 citing looming investment in both its suppliers and strategy after it delivered blockbuster fourth quarter earnings.

Hyundai Mobis to build BEV parts plant in Ulsan

South Korean automotive components manufacturer Hyundai Mobis has agreed to invest US$90bn (US66m) to build a plant in the south of the country for the production of modules for battery electric vehicles (BEVs).

Nio partners with BYD to take on Tesla - report

Reuters reports that Nio has made a deal with BYD to source batteries for an EV brand called “Onvo” in English (“Ledao" in Chinese), which will be priced at a lower range in a bid to compete with Tesla.

Nvidia backs UK self-driving startup Wayve

UK self-driving start-up Wayve has announced it has raised $1.05 billion with an investment round led by chipmaker Nvidia and Japanese tech giant SoftBank Group.

Daimler Truck happy despite lower Q1 unit sales

Daimler Truck said it delivered "solid results" in the first quarter of 2024 despite lower unit sales.

Daimler truck testing BEV AV truck in US

Daimler Truck has combined battery electric drive and integrated autonomous driving technology into one semi-truck for the first time: the autonomous Freightliner eCascadia technology demonstrator.