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Category: Automotive

Retail News Asia is committed to providing both local and global retailers with the latest Auto and Car news throughout the Asian market. This on a daily base.

  • Shell Sells 200 Indonesian Fuel Stations to SEFAS Group

    Shell Sells 200 Indonesian Fuel Stations to SEFAS Group

    Shell has completed the sale of its retail fuel business in Indonesia to local partner SEFAS Group, transferring a network of roughly 200 service stations across the country.

    More than 160 of those forecourts are company-owned sites, and all of them will continue trading under the Shell name through a long-term trademark licensing agreement.

    Announced on Friday, October 30, 2026, the transfer hands over operations to SEFAS while preserving Shell-branded fuel products for Indonesian motorists without disruption.

    Transfer to PT Isla Energy Indonesia

    The transaction shifts Shell’s downstream forecourt assets, supply chain infrastructure, and fuel distribution operations into PT Isla Energy Indonesia, which SEFAS now owns entirely. The deal also hands SEFAS full control of a fuel terminal in Gresik, East Java. Neither company disclosed the financial terms.

    Forecourts will keep selling Shell-formulated fuels without interruption, leaving customer loyalty schemes, payment systems, and forecourt retail partnerships intact at store level. Operating fuel retail through local licensees allows foreign energy majors to cut direct capital expenditure while taking high-margin brand royalties from high-volume emerging markets.

    Forecourt Retail Shift in Southeast Asia

    Fuel retailing across Southeast Asia has shifted away from direct ownership by international majors toward local distribution specialists who operate roadside convenience stores, quick-service dining, and vehicle maintenance franchises more aggressively. Running company-owned networks in Indonesia requires heavy working capital to manage import supply chains and land leases.

    For Indonesian forecourt operators and convenience store concessionaires, the ownership change puts site development decisions in the hands of a local distributor with immediate domestic supply ties. SEFAS absorbs the operational risk of managing site inventories and wholesale fuel margin volatility, while Shell collects licensing revenue without carrying forecourt real estate on its balance sheet.

    Lubricants and Manufacturing Kept In-House

    Shell kept its Indonesian lubricants and industrial manufacturing divisions entirely separate from the retail sale. The energy group continues to operate its lubricant oil blending plant in Marunda, Bekasi, which produces up to 300 million litres annually.

    That manufacturing footprint expanded in September 2026 when Shell started commercial operations at a grease plant with an annual capacity of 12,000 metric tons. SEFAS agreed in August 2026 to buy the retail fuel business before working through Indonesian regulatory clearances and closing procedures.

    Forecourt operators will watch how quickly SEFAS expands the network beyond Java and whether it updates PT Isla Energy Indonesia’s convenience retail partnerships across the remaining dealer-owned sites.

  • Leapmotor Launches A10 SUV in Thailand with 30 Outlets Planned

    Leapmotor Launches A10 SUV in Thailand with 30 Outlets Planned

    Leapmotor launched its A10 compact electric sport utility vehicle in Thailand on Friday, sending the model to 19 local showrooms as it chases export volume across Southeast Asia.

    The carmaker plans to expand that sales and service footprint to 30 locations nationwide before the end of the year.

    Showroom rollout and vehicle specs

    Known internationally as the B03X, the small SUV features a long-range battery rated for 450 kilometers under NEDC testing standards. It accepts direct-current fast charging up to 133 kW, filling the battery from 30 percent to 80 percent in 16 minutes under test conditions.

    Cabin hardware includes a 14.6-inch 2.5K central display screen compatible with Apple CarPlay and Android Auto. Practical features focus on urban buyers, adding semi-autonomous driver aids alongside a 106-liter washable cargo bin fitted under the rear floorboards. Leapmotor did not release retail pricing or a delivery schedule during the Bangkok presentation.

    Dealership network and parts supply

    Expanding dealership coverage forms the core of the Thai strategy. Alongside the push to reach 30 retail points, the carmaker is building a dedicated regional parts distribution hub and a technical support depot to speed up repair turnaround.

    Chinese brands entering Southeast Asia regularly encounter resistance around replacement component delays and depreciating resale values. Setting up physical maintenance hubs alongside new showrooms addresses that dealer friction directly. It gives fleet operators and individual motorists a clearer operational backing than independent importers can provide.

    The export joint venture

    International distribution runs through Leapmotor International, an operating venture owned 51 percent by Stellantis NV. The European automotive group holds exclusive manufacturing and distribution rights for all Leapmotor vehicles sold outside Greater China.

    That corporate partnership provides instant scale, allowing the Chinese marque to bypass the slow, expensive process of constructing solo distribution networks across developing markets. It also gives the brand an established logistics apparatus to ship right-hand-drive vehicles across ASEAN ports without building regional factories first.

    Expanding product cadence

    Friday’s launch extends a product rollout that began when Leapmotor brought the larger C10 SUV to Thailand in 2024. The carmaker followed that introduction by rolling out the B10 electric SUV in October 2025.

    Deliveries outside China have become central to Leapmotor’s balance sheet. The automaker exported 27,454 vehicles in September, representing a 298.58 percent rise year-on-year and a 50.39 percent lift from August. Over the first nine months of the year, outbound shipments reached 159,572 units, climbing 322.46 percent year-on-year. Global deliveries across domestic and foreign operations reached 105,656 vehicles in September, pushing nine-month output to 666,539 cars.

    Thai retail pricing remains the immediate figure to watch, followed by the planned commercial debut of the refreshed C10 SUV in 2026.

  • Li Auto Builds 200,000 Li I6 SUVs as November Target Reaches 20,000

    Li Auto Builds 200,000 Li I6 SUVs as November Target Reaches 20,000

    Li Auto built its 200,000th Li i6 battery electric SUV on October 30, roughly 13 months after the five-seat model entered the Chinese market in September 2025.

    Assembly lines are scheduled to produce 20,000 units in November before lifting throughput further in December to clear an order backlog running at seven to eight weeks.

    The manufacturing run rate follows the release of the updated 2026 Li i6 on October 28. Deliveries across China started on October 29. Official retail pricing stays unchanged at 249,800 yuan ($37,210), though early buyers securing an order before November 30 receive promotional pricing of 239,800 yuan.

    Hardware upgrades and plant throughput

    Li Auto product line head Li Xinyang outlined the production ramp on Weibo, stating that vehicles for initial fulfillment were assembled in advance to cushion delivery wait times. Buyers placing orders at the end of October are scheduled to receive vehicles before the calendar year closes.

    The refreshed 2026 SUV features the company’s proprietary Mach M100 driver-assistance chip as standard equipment. Energy storage comes from a 96-kilowatt-hour Lianshan 5C lithium iron phosphate battery pack. That hardware gives the rear-wheel-drive configuration a CLTC driving range of 780 kilometers.

    Factory output targets demand that factory shifts run smoothly through the fourth quarter. Hitting 20,000 units monthly requires the assembly line to outpace earlier delivery volumes by a wide margin.

    Deliveries dip ahead of model refresh

    Delivery figures had slowed sharply prior to the refresh as showroom buyers held back for the updated specification. Li Auto handed over 7,379 i6 vehicles in September, representing a 56.54 percent drop from August numbers.

    That volume represented 23.19 percent of all Li Auto deliveries in September. Through the first nine months of the year, the company delivered 160,221 i6 units, which lifted cumulative deliveries since the vehicle’s market debut to 189,192 units by September 30.

    The gap between the 189,192 customer handovers logged through September and the 200,000-unit factory threshold reflects production buffers, test units, and vehicle consignments currently moving through domestic logistics channels.

    Extended range line maintains volume lead

    While Li Auto builds out its pure battery electric lineup, its hybrid powertrains continue to generate the bulk of operational volume. Cumulative output of the Li L6 extended-range SUV reached 420,000 units by late October.

    The L6 held the top sales position among extended-range passenger vehicles in China for two straight months. That steady hybrid volume provides retail cash flow while the company absorbs the capital expenses tied to producing in-house chips and dedicated battery packs for pure electric platforms.

    For automotive component suppliers, the ramp provides operational visibility through mid-winter. Component vendors supplying the battery cells and Mach M100 computing modules face strict delivery schedules to hit the December production target.

    Export timelines and European entry

    Domestic scale forms the base for Li Auto’s overseas ambitions. The automaker announced on October 12 that the vehicle, badged as the Li 6 for export markets, will launch in Europe during the first quarter of 2027.

    Initial sales outside China will focus on Norway and the Netherlands, two markets with established high-speed charging infrastructure. Those territories will test whether Li Auto can convince overseas retail buyers without relying on the extended-range powertrains that drove its domestic rise.

    Factory managers now face the immediate task of hitting the 20,000-unit build rate in November before pushing assembly rates higher in December.

  • Xpeng Schedules Third-Quarter Results After Delivering Record 118,390 EVs

    Xpeng Schedules Third-Quarter Results After Delivering Record 118,390 EVs

    Xpeng will report its unaudited third-quarter financial results on November 16, following record quarterly deliveries of 118,390 electric vehicles across China.

    Volume rose 2.05 percent from the same period last year and climbed 14.61 percent sequentially from the second quarter, edging past the midpoint of the company’s August target.

    The carmaker plans to host its earnings call at 8:00 pm Beijing time on November 16, prior to regular trading hours in New York. Delivery volume for the quarter sat comfortably inside the projected band of 115,000 to 121,000 units. For the three months ended September 30, Xpeng had forecast revenue between 21.7 billion yuan ($3.23 billion) and 23.4 billion yuan, representing top-line expansion of 6.47 percent to 14.81 percent.

    Margin Pressure Behind Rising Volume

    Expanding assembly lines have yet to eliminate bottom-line losses. During the second quarter, Xpeng booked revenue of 19.74 billion yuan, up 8.0 percent year on year, while its net loss widened 179 percent to 1.34 billion yuan. Overall gross margin climbed to 20.7 percent during that period, but profitability specifically on car manufacturing retreated to 12.1 percent from 14.3 percent twelve months earlier.

    Management linked that automotive margin erosion to production line switchovers and model transitions. For automotive retailers and dealership networks across tier-two and tier-three Chinese cities, those shifting economics matter. Showroom floors face aggressive discounting pressure from domestic competitors, which forces brand operators to balance higher footfall against compressed dealership commissions.

    The Fourth-Quarter Delivery Pipeline

    Operational momentum picked up as the final quarter opened. The company delivered 50,237 vehicles in October, exceeding the 50,000 threshold in a single month for the first time. That tally marked a 19.57 percent increase compared to October 2025 and a 21.77 percent jump over September 2026.

    To sustain that momentum, the automaker began nationwide handovers of the Mona L05 on November 1, following its domestic debut on October 29. Fast handovers will test distribution logistics and regional charging hubs as order backlogs translate into active road registrations.

    Pricing Battles Across Chinese Showrooms

    The earlier part of the year had laid out a choppy trajectory for the business. First-quarter deliveries reached 62,682 units before rebounding to 103,295 in the second quarter. The second-quarter earnings release on August 24 demonstrated that while total vehicle receipts grew, product changeovers continued to drag on net earnings.

    Investors and regional dealership groups will focus on fourth-quarter delivery guidance when the numbers arrive on November 16. Chairman and Chief Executive Officer He Xiaopeng had previously set an operational target to surpass 60,000 monthly deliveries before the close of the year, relying on mass shipments of the Mona L05 alongside the G9L.

  • Eppo Targets 180,000 Thai State Vehicles for Electric Transition

    Eppo Targets 180,000 Thai State Vehicles for Electric Transition

    Thailand’s Energy Policy and Planning Office (Eppo) has prepared a roadmap to convert more than 180,000 state-owned and leased vehicles to electric power while rolling out workplace charging points across agencies.

    Battery electric models make up only about 1% of all vehicles procured by public departments between 2006 and 2026. Eppo formulated the transition strategy using findings from a consultancy firm’s study to cut public-sector energy costs and lower long-term operating expenses.

    An energy official speaking on condition of anonymity stated that Eppo views the transition as a practical foundation for wider clean-energy adoption across the civil service.

    Rewriting Procurement Rules for State Fleets

    The roadmap requires officials to revise civil service vehicle-leasing and purchasing frameworks to favor electric drivetrains. A dedicated state agency will supervise compliance, monitor progress across ministries, and enforce standardized operational safety measures. Energy planners based the initial framework on a consultancy study, with final implementation rules still being prepared for cabinet consideration.

    Public agencies manage thousands of depots, ministry offices, and municipal yards where staff vehicles sit idle during office hours. Converting these locations requires dedicated commercial charging points, expanding electrical line capacity, and creating unified fleet management contracts for state operators.

    Building Demand for Local Assemblers

    For automakers operating in Thailand, public sector procurement offers guaranteed volume without the marketing overhead of consumer sales. Chinese EV manufacturers and traditional Japanese assemblers competing in Southeast Asia have built local manufacturing capacity to meet domestic production incentives. Long-term fleet purchase agreements give factories stable run rates during seasonal lulls in private retail demand.

    The commercial vehicle ecosystem faces practical hurdles during this transition. State procurement departments historically prioritize low initial purchase prices over total cost of ownership. Battery degradation warranties, salvage values, and maintenance contracts across disparate rural provinces remain unproven at scale in Thai civil service budgets.

    Charging Networks Push for Roaming Standards

    Commercial charging operators stand to gain immediate throughput from centralized fleet operations. Thailand recorded 5,021 charging locations housing 15,290 connectors nationwide as of September 2026. The Energy Policy and Planning Office is running a parallel initiative to integrate these fragmented private charging platforms into a single “EV Roaming Hub” operating on a unified payment standard.

    The shift follows a sharp expansion in civilian passenger electric vehicle sales across the country. Department of Land Transport statistics compiled by the Federation of Thai Industries show Thailand registered 22,587 new EVs and electric motorcycles in September 2026, an 89.7 per cent increase from September 2025. Passenger electric cars accounted for 19,425 of those registrations, rising 98.6 per cent year on year.

    During the first nine months of 2026, total electric vehicle registrations reached 191,273 units, up 83 per cent from the same period in 2025. The Federation of Thai Industries projects full-year 2026 registrations will finish between 200,000 and 220,000 units, compared with roughly 120,000 vehicles registered throughout 2025.

    What to Watch Next

    The Energy Policy and Planning Office must submit the finalized fleet procurement guidelines to the central government for formal policy ratification. Automakers and fleet leasing companies are waiting for the draft to specify annual conversion quotas and the initial budget allocations for civil service charging depots.

  • Nio Delivers 3,000 ES9 Flagship SUVs in Shanghai as Overall Group Volume Drops

    Nio Delivers 3,000 ES9 Flagship SUVs in Shanghai as Overall Group Volume Drops

    Nio handed over its 3,000th flagship ES9 sport utility vehicle in Shanghai on November 2, completing five full operating months on the market in its global headquarters city.

    The electric vehicle retails from 498,000 yuan with battery pack included. Handover of the threshold unit took place at the Shanghai leg of the Nio Cup National Golf Invitational to a buyer replacing an internal combustion engine luxury model. Nio stated that the ES9 has led automotive sales for vehicles priced above 500,000 yuan in Shanghai across four consecutive months.

    Premium Traction in the Home Base

    Deliveries for the ES9 began on May 28, exactly one day following its official launch on May 27. The large sport utility vehicle took until July 5 to log its first 1,000 handovers in Shanghai, making the commercial hub the first Chinese municipality to reach that volume. Shanghai functions as a core sales engine for the company. During the first half of the year, Nio logged retail sales of 20,736 vehicles in Shanghai, representing 10.88 per cent of its nationwide retail volume over that six-month span, based on figures from Shanghai Jiading district government channels.

    National production and delivery rates for the model climbed steadily through the late summer. The ES9 posted 7,706 customer deliveries nationwide in September, an increase of 18.94 per cent from August. September represented the vehicle’s second-strongest monthly delivery tally since rolling off the assembly line, bringing total national ES9 deliveries to 32,203 units by the close of the third quarter.

    Large Formats Carry Main Brand Weight

    Top-tier models now account for the vast majority of showroom throughput at the core marque. In September, the ES9 and the smaller ES8 together generated 85.62 per cent of all deliveries under the primary Nio badge. High-ticket sport utility platforms continue to shield the brand from intense price erosion visible in lower consumer tiers, giving dealerships dependable transaction revenue per stall.

    Retail networks face an uneven showroom floor across company sub-brands. While the primary luxury marque logged 18,125 deliveries in October, up 5.73 per cent year on year, gains across that line and the budget-focused Firefly brand failed to counterbalance sharp slippage at mass-market unit Onvo. Relying almost exclusively on 500,000-yuan premium buyers restricts total addressable volume, leaving operational overhead exposed when mass-tier nameplates falter against domestic rivals.

    Widening Split Across Portfolio Divisions

    Corporate deliveries dropped 15.23 per cent year on year in October to 34,246 units across all operations. That monthly contraction snapped a continuous 31-month expansion streak for Nio Inc, dating back to February 2024. Factory allocations and component orders must now adjust to diverging showroom demand between premium sport utilities and entry brands.

    The older third-generation ES8 achieved 160,000 cumulative deliveries on October 23, adding its final 10,000 units over a span of 33 days. That long-term performance demonstrates steady customer retention in large-format battery-electric models. Preserving momentum at that price tier requires constant equipment iterations to deflect pressure from competing domestic executive limousines and family haulers.

    Guangzhou Debut to Test Marque Depth

    Portfolio development turns next to southern trade circuits before year-end financial accounting closes. Nio plans to introduce a special edition of the ES8 at the Guangzhou Auto Show in late November, testing whether upgraded equipment trims can defend high-margin utility sales against newer luxury entries.

  • Geely Sells 310,183 Cars in October as Exports Surge 157 per Cent

    Geely Sells 310,183 Cars in October as Exports Surge 157 per Cent

    Geely Auto sold 310,183 vehicles in October, finishing just 245 units shy of its all-time monthly record set in November 2025.

    Strong overseas shipments offset a sharp contraction at home, with export volumes jumping 157.78 per cent year-on-year to 107,153 units.

    Deliveries rose 0.99 per cent compared to October last year and gained 6.17 per cent from September. The performance represented the manufacturer’s second-highest monthly volume on record and its highest total in 2026. However, overall annual sales expansion slowed to roughly 1 per cent because the downturn across mainland China widened.

    Domestic Contraction Deepens in Mainland China

    Home-market demand weakened considerably across Geely’s domestic retail pipeline. The carmaker delivered 203,030 vehicles in China during October, a decline of 23.55 per cent compared to the same month last year. That fall accelerated from a 20.21 per cent decrease recorded in September.

    Sequentially, domestic figures showed modest resilience. Chinese showroom volumes climbed 9.46 per cent from September, logging their best single-month total since January. For the first 10 months of the year, Geely’s cumulative mainland deliveries fell 23.31 per cent to 1,640,841 units.

    Electric Volume Crosses 200,000 Mark

    Electrified drivetrains took a commanding share of total output. Deliveries of new energy vehicles climbed 20.86 per cent year-on-year and 12.64 per cent from September to 214,996 units, crossing the 200,000 mark in a single month for the first time. The category accounted for 69 per cent of all cars sold during the period.

    Battery-electric models drove the segment’s expansion, rising 43 per cent year-on-year to 140,758 units. In contrast, plug-in hybrid electric vehicle shipments declined 6.66 per cent to 74,238 units. The drop broke a flat trend seen in September, when plug-in hybrid volumes held steady against previous-year tallies.

    Brand Performance Shows Divergence

    Brand contributions revealed stark divides across Geely’s corporate umbrella. The core Geely badge, which includes the Galaxy series, delivered 255,742 vehicles in October, rising 4.17 per cent year-on-year and 8.15 per cent from the previous month. Galaxy set a monthly record of 153,385 units, a gain of 20.32 per cent from a year earlier, lifting its year-to-date total to 1,030,569.

    Zeekr registered 32,483 deliveries, up 51.63 per cent from a year ago. That gain ended a nine-month streak where the premium electric badge expanded at or near triple digits. Sequentially, Zeekr dropped 12.72 per cent, suffering its first month-on-month decline since January. Lynk & Co recorded 21,958 deliveries, slumping 45.40 per cent year-on-year for its seventh straight monthly fall, even as volumes climbed 18.74 per cent from September.

    Target Pressures and Export Reliance

    The operational split between local retail weakness and foreign expansion puts structural margin pressure on Geely’s distribution network. Overseas deliveries generated 35 per cent of all volume in October, slightly down from 37 per cent in September but representing an enormous jump from 2025. While foreign distribution commands higher showroom retail prices in developing markets, cross-border freight costs and regional import duties eat into those returns. Chinese dealerships, meanwhile, face persistent price discounting as local buyers pivot away from internal combustion models faster than the core network can adjust.

    Rival domestic manufacturers face similar cross-border dynamics, but Geely has shifted its physical inventory overseas at an accelerated pace. Across the first 10 months of 2026, cumulative exports climbed 167.94 per cent to 904,823 vehicles. That total completed 98 per cent of its full-year foreign shipment goal of 920,000 units, leaving roughly 15,000 cars to ship over November and December. Geely had revised that export target upward on August 17 from an earlier goal of 640,000.

    Total group volume reached 2,545,664 units between January and October, representing an increase of 2.76 per cent from the same period last year. Year-to-date brand tallies show the core Geely line down 1.18 per cent at 2,006,702 units and Lynk & Co down 22.58 per cent to 218,075. Zeekr remains the main volume booster over the 10-month window, rising 94.45 per cent to 320,887 units.

    Meeting management’s overall objective will require unprecedented sales speed. Geely has secured 74 per cent of its full-year target of 3,450,000 vehicles, leaving a deficit of 904,336 units. To clear that benchmark, the company must average roughly 452,000 vehicle deliveries in each of the remaining two months, well above the record 310,428 achieved in November 2025.

  • Maruti Suzuki Exports Rose 59.3% in October Despite Shipping Strain

    Maruti Suzuki Exports Rose 59.3% in October Despite Shipping Strain

    Maruti Suzuki exported 49,872 vehicles in October, rising 59.3 per cent from a year earlier despite worsening shipping disruptions across maritime corridors in West Asia.

    India’s largest carmaker, Maruti Suzuki India Ltd., accounts for more than half of the country’s passenger vehicle exports, maintaining shipments even as secondary transport links come under pressure.

    Transit routes through West Asia serve as a vital corridor to Europe and North Africa. Trade lanes around the Strait of Hormuz have suffered recurring delays since conflict broke out in late February following a joint US and Israel operation in Iran.

    Alternate Routes Face Congestion

    Vessels bypassing disrupted passages now face escalating delays as alternative maritime corridors run out of spare capacity. Rahul Bharti, senior executive officer for corporate affairs at Maruti Suzuki, confirmed the logistical friction at a press briefing on Sunday.

    “The Middle East situation has actually slightly worsened. We were using an alternate route, even that alternate route has a bit of a problem,” Bharti said.

    Export demand in destination markets remains stable. That customer appetite is forcing carmakers to absorb complex freight rerouting rather than trimming assembly line targets in India.

    Margins Squeezed Across Automakers

    Higher transit times and elevated commodity prices linked to the conflict took a direct toll on earnings during the September quarter. Maruti Suzuki posted a 26 per cent drop in net profit to 2,466 crore rupees, while rival exporter Hyundai Motor India recorded a 24 per cent decline to 1,196 crore rupees.

    Other vehicle exporters face the same pinch. Two-wheeler manufacturers Bajaj Auto, TVS Motor and Hero MotoCorp have reported higher freight expenses on outbound deliveries to overseas markets, while carmakers including Volkswagen and Nissan manage identical distribution headwinds out of Indian assembly hubs.

    The margin squeeze illustrates the structural vulnerability facing Indian automotive export operations. When maritime chokepoints close, the resulting freight surcharges and insurance premiums land squarely on operating margins, even when consumer order books remain filled.

    Tariffs and Electric Vehicle Strategy

    Maruti Suzuki distributes cars to roughly 120 export markets to avoid overreliance on individual territories. A sharp tariff increase in Mexico, where import duties jumped from 20 per cent to 50 per cent, dragged total volume in that market lower, offsetting gains elsewhere.

    The company is countering regional volatility by expanding electric vehicle distribution into developed markets. Outbound shipments of the electric e-Vitara to destinations such as Europe and Japan are designed to build a buffer against tariff hikes in the Americas and shipping friction across the Middle East.

    Tracking Shipping Costs and Deliveries

    Sustained freight disruptions now test whether expanding overseas sales can remain profitable without prolonged supply chain normalization.

    Automakers will monitor freight rates through the final calendar quarter as Maruti Suzuki prepares additional batches of the e-Vitara for Japanese and European showrooms.

  • LiveWire Warns of Going-Concern Risk as Cash Falls to $39.9 Million

    LiveWire Warns of Going-Concern Risk as Cash Falls to $39.9 Million

    LiveWire has issued a going-concern warning alongside its third-quarter 2026 results, stating there are substantial doubts about whether it can continue operating over the next twelve months without intervention. The Harley-Davidson spin-off saw liquid assets drop to $39.9 million as of 30 September, down from $82.8 million at the end of 2025.

    Management cited recurring operating losses, negative cash flows, limited liquidity, and ongoing funding needs for the warning. While insolvency has not been declared, the company has pulled its previous annual forecast of a $70 million to $80 million operating loss and is weighing options including debt and equity financing, partnerships, restructuring, recapitalisation, or a sale.

    The board of directors established a restructuring committee on 22 October to negotiate potential transactions and appointed Roy Gallagher as Chief Restructuring Officer. Beyond current liquidity strains, LiveWire faces a debt maturity due in December 2027.

    Motorcycle sales grow from a low base

    Operationally, LiveWire did see growth in the third quarter. Group revenue increased by 38 per cent to $7.9 million, while the net loss narrowed slightly from $19.4 million to $18.6 million. Adjusted EBITDA stood at minus $14.7 million.

    In terms of electric motorcycles, LiveWire sold 241 units, up from 184 in the same quarter last year, a 31 per cent increase. Revenue in the motorcycle segment rose from $1.0 million to $2.7 million, though the operating loss remained significantly higher at $17.0 million. The majority of the 7,233 total units sold were not motorcycles but part of the STACYC business, which includes electric balance bikes and e-bikes for children, with 6,992 units sold in the quarter.

    However, liquidity is the decisive factor in the current situation. As of 30 September, LiveWire had $39.9 million in cash and cash equivalents, down from $82.8 million at the end of 2025. In the first nine months of 2026, $38.3 million was used in operating activities, with free cash flow at minus $40.5 million. While both figures represent a 16 per cent improvement year-on-year, the outflow of funds remains high.

    As a result, LiveWire has withdrawn its previous annual forecast. The company had most recently expected an operating loss of $70 to $80 million for 2026.

    LiveWire targets new buyers with the S4 Honcho

    The financial challenges come as LiveWire is launching its new S4 Honcho range, which the company is using to significantly expand its offering into the lower price segment. In Europe, the S4 Honcho Trail starts at €5,299, while the road version, the S4 Honcho Street, is priced at €5,699. Previous LiveWire models, such as the S2 Mulholland, have typically been priced around the €20,000 mark.

    Production of the two lightweight electric motorcycles has already begun at Kymco. According to LiveWire, the first S4 Honcho Trail units were delivered in the US in August, with the Street version following in October at dealerships. For Europe, the first Trail deliveries were announced for October, with the Street version expected in November.

    With these more affordable models, LiveWire is targeting a significantly broader customer base than before. In parallel, the company is working on additional S2 derivatives and an electric maxi-scooter developed jointly with Kymco.

    Whether this expansion of the model range can have a rapid enough financial impact remains uncertain. The going-concern warning suggests that LiveWire first needs additional financing or another strategic solution to continue executing its business plan as intended.

    LiveWire was spun off from Harley-Davidson in 2022 and listed separately on the stock exchange. Harley-Davidson remains the majority shareholder of the electric motorcycle manufacturer.

  • Midland Bank Backs BYD Auto Loans up to Tk 80 Lakh

    Midland Bank Backs BYD Auto Loans up to Tk 80 Lakh

    Midland Bank PLC signed an agreement recently with CG Runner BD Ltd to finance customer purchases of BYD vehicles in Bangladesh, offering loans ranging from Tk 4 lakh to Tk 80 lakh.

    Managing director Imtiaz U Ahmed of Midland Bank and managing director Amid Sakif Khan of authorised distributor CG Runner BD completed the deal during a signing ceremony in Dhaka.

    Under the facility, the lender finances up to 80 percent of a vehicle’s value with flexible repayment tenures reaching six years, delivering competitive interest rates to buyers.

    Loan Terms and Processing Speed

    Under the memorandum of understanding signed with authorized distributor CG Runner BD Ltd, the bank commits to turnaround times within three working days after receiving paperwork. Approval remains tied to the commercial lender’s internal credit assessments.

    Midland Bank managing director Imtiaz U Ahmed and CG Runner BD managing director Amid Sakif Khan signed the deal in Dhaka. Institutional banking head Mohd Javed Tarek Khan, operations head Muhammed Noorunnabi, unit head Muhammad Majidul Haq Patwary and retail coordinator Mohammed Rashadul Anwar attended for the bank. Chief financial officer Md Ferdowsur Rahman and business development head Methun Bhattacharjee joined for the distributor.

    Commercial EV Distribution in Dhaka

    Commercial banks in South Asia rarely extended high-tenure consumer credit to new automotive brands without substantial down payments. By underwriting up to 80 percent of asset values, Midland Bank absorbs the residual value risk that typically slows down electric vehicle retail adoption in emerging markets.

    Dhaka’s passenger car segment relies heavily on imported reconditioned combustion vehicles. Dealerships selling factory-new battery electric models need institutional debt lines to match the installment structures that grey-market fleet importers routinely provide through non-bank financial institutions.

    Expanding South Asian Electric Mobility

    BYD has pushed aggressively across developing Asian territories through local franchise agreements, selecting commercial partners capable of handling both assembly licenses and retail floor plans. CG Runner serves as the brand’s primary channel to bring battery electric sedans and compact SUVs into Bangladesh’s urban centres.

    The agreement focuses strictly on retail financing for passenger buyers rather than commercial fleet operators or public transport bodies.

    Next Steps for Borrower Uptake

    Midland Bank now rolls the retail loan package through its branch network across the capital and regional commercial hubs. The immediate measure of demand will be loan booking volume as CG Runner delivers its upcoming batch of imported BYD units to showroom floors.

  • Li Auto Deliveries Fall to 29,025 in October

    Li Auto Deliveries Fall to 29,025 in October

    Li Auto delivered 29,025 vehicles in October, down 8.63 per cent from a year earlier as monthly volumes hit their lowest point since February. The figure slipped 8.78 per cent from the 31,817 units handed over in September, marking a second consecutive month of year-on-year contractions.

    Over the first ten months of 2026, the Chinese automaker delivered 322,461 vehicles, a 1.96 per cent drop compared to the same period last year. Total cumulative deliveries reached 1,862,676 units by October 31.

    Production Squeeze on Updated i6

    Li Auto launched the refreshed 2026 Li i6 on October 28 and started customer handovers the following day. The five-seat pure electric SUV keeps an unchanged sticker price of 249,800 yuan ($37,210), though early buyers securing allocations before November 30 receive promotional incentives lowering the cost to 239,800 yuan.

    Hardware updates include the proprietary Mach M100 driver-assist chip and a 96-kilowatt-hour Lianshan lithium iron phosphate battery pack. That combination yields a CLTC driving range of 780 kilometres on rear-wheel-drive configurations. Li Xinyang, head of the Li Auto product line, confirmed on October 30 that cumulative production of the i6 reached 200,000 units, but consumer wait times currently span seven to eight weeks.

    Flagship MPV Repositioning and In-House Tech

    Demand for the larger Mega multipurpose vehicle showed moderate recovery, topping 3,000 deliveries during October. Li Auto introduced the revised flagship electric van on September 2 with hardware revisions and a lower retail price designed to revive commercial momentum after a sluggish initial rollout.

    October also brought commercial deployments of Li Auto’s self-developed powertrain hardware, including the Lianshan drive system and dedicated traction pack warranty schemes. An over-the-air software upgrade, version 9.2, rolls out to owners in November to introduce Mach VLA 2.5 driver-assist functions alongside refreshed cockpit voice systems.

    Rivalry Shifts to Showroom Productivity

    Premium Chinese electric vehicle makers face an aggressive pricing war that penalises pauses in model renewal cycles. Rivals have expanded their sub-brands to defend entry-level volumes, while Li Auto relies on concentrated showroom throughput to protect dealer margins. The recent delivery dip demonstrates that consumer interest falters quickly when factory retooling delays customer handovers.

    Suppliers also face cash constraints as automakers bring proprietary silicon and battery assembly under direct control. Li Auto’s switch to its internal Mach processors and Lianshan battery platforms shifts margin risk straight to its balance sheet, raising the capital threshold required to compete in Tier 1 cities.

    Retail Expansion Ahead of Year-End Target

    The October setback follows a peak run in late 2024, when monthly deliveries crossed 50,000 units before market competition tightened across China. Li Auto responded by building out physical touchpoints in lower-tier regions while pruning low-traffic mall sites.

    By the end of October, the company’s retail network spanned 481 stores across 159 cities, supported by 527 service facilities in 217 cities. Its proprietary charging infrastructure expanded by 18 stations and 86 stalls in October, bringing totals to 4,206 supercharging stations and 23,163 plugs across China.

    Factory planners target monthly i6 assembly output of 20,000 units in November before pushing line rates higher in December to clear backlogs before the annual tax cut window closes.

  • Ultraviolette Launches X-47 Venom Electric Motorcycle at 265,000 Rupees

    Ultraviolette Launches X-47 Venom Electric Motorcycle at 265,000 Rupees

    Bengaluru startup Ultraviolette Automotive launched the X-47 Venom electric crossover motorcycle in India with an introductory starting price of 265,000 rupees. The model debuts the manufacturer’s proprietary 100-volt VX-100 powertrain architecture, built around an 11-kilowatt-hour battery pack.

    Standard retail pricing starts at 300,000 rupees, but the company cut 35,000 rupees off the sticker for the first 5,000 buyers to spur initial volumes. Co-founder Niraj Rajmohan confirmed European deliveries will commence in early 2027 following the motorcycle’s regional premiere on 3 November 2026.

    Powertrain Specifications and Fast Charging

    The VX-100 setup combines the SRB-11 battery pack with an aviation-derived motor dubbed Light Fury and an in-house motor controller. Ultraviolette states the SRB-11 pack offers 25 per cent higher energy density, cools twice as fast, weighs 15 per cent less, and charges twice as quickly as the SRB10 battery on earlier builds. It supports direct-current charging at rates up to 12 kW.

    Weighing 2.5 kg, the motor controller employs silicon carbide power transistors, cutting mass by 40 per cent while tripling power density over the previous unit. The motor uses soft magnetic composites and a trapezoidal coil topology, spinning up to 9,000 rpm. A standard 30 kW motor configuration pushes the motorcycle from zero to 100 kph in 5.9 seconds, reaching a top speed of 155 kph.

    Buyers can choose across four trims: standard, plus, Recon, and Recon+. The standard and plus editions use a 7.5 kWh battery providing an Indian Driving Cycle range of 227 kilometres. The Recon and Recon+ variants step up to the 11 kWh pack, extending IDC range to 343 kilometres. The plus and Recon+ variants include a 1.6 kW on-board charger.

    Rider Tech and Dealer Targets

    Equipment levels lean heavily on consumer electronics. Each bike includes cruise control, an IP67-certified 7-inch touchscreen running integrated navigation, a 35-watt USB Type-C port, and both front and rear dashcams. A 77 GHz long-range rear radar handles four automated safety functions: blind spot monitoring, lane change assist, overtake alerts, and rear collision warnings.

    Factory Footprint and Global Shipments

    Production currently runs out of Bengaluru, where factory capacity sits at 30,000 units annually with headroom to reach 60,000. To clear supply bottlenecks, the company is building a 250,000-unit facility known as the BIGGA plant in Hosur, Tamil Nadu. That site holds enough land to double output to 500,000 units over time.

    Hosur will assemble two upcoming VX-100 platform models: a premium electric scooter called Tesseract and an enduro motorcycle named Shockwave. Export programmes will follow domestic launches, with Ultraviolette planning to ship both future models to European distributors.

    Overseas traction remains small but active. European deliveries of the earlier F77 began in July and August 2025 across 20 countries, totaling between 500 and 700 units delivered to date. European distribution for the X-47 Venom starts in early 2027 following its continental premiere at the EICMA trade show on 3 November 2026.

    Performance Pipeline

    The product sequence leads directly into high-output sport machinery. Following the commercial debut of the Tesseract scooter in the first quarter of 2027, Ultraviolette plans to unveil production schedules for the F99.

    That track-focused model steps up to a 400-volt electrical system, pairing a 90 kW motor producing 200 Nm of torque with a 180 kg kerb weight. Company estimates target a zero-to-100 kph sprint in 3.0 seconds and a maximum speed of 265 kph, setting up a performance halo above the crossover lineup.

  • Hyundai Deploys 11 Electric Buses for Bali Public Transit Fleet

    Hyundai Deploys 11 Electric Buses for Bali Public Transit Fleet

    Hyundai Motor delivered 11 County EV buses to Bali on October 22, introducing the resort island’s first electric public transit fleet.

    The eight-metre buses carry 20 seats, run on 128 kWh battery packs and cover more than 200 kilometres on a single charge.

    The fleet arrived under the Bali Sustainable Transportation System Official Development Assistance Project. The Global Green Growth Institute manages the programme alongside South Korea’s Ministry of Climate, Energy and Environment and the Indonesian government, having selected Hyundai through a tender floated in late 2025.

    Local Assembly and Vehicle Architecture

    Hyundai supplied the electric bus platforms. Local bodybuilder Laksana constructed the coachwork in Indonesia, pairing the domestic frame with a 150 kW motor.

    Technical specifications indicate the vehicles produce over 30 per cent quicker acceleration between 50 and 80 km/h than equivalent diesel models. Hyundai has opened an on-site field quality monitoring room to track real-time powertrain performance, daily battery degradation and structural wear across the tourist island’s stop-and-start traffic routes.

    Regional transit operators face steep technical tests when transitioning fleets in tropical leisure hubs. Air conditioning loads run continuously at peak capacity, which drains battery range far faster than standard municipal testing suggests. By retaining operational control through its on-site situation centre, Hyundai is underwriting service uptime directly while local maintenance technicians train on high-voltage battery architecture.

    Commercial Expansion Beyond Java

    The Bali contract duplicates Hyundai’s initial commercial transit test in East Java. The manufacturer handed over an identical batch of 11 County EV units to Surabaya in November 2024 to test fleet durability in dense city environments.

    South Korean commercial vehicle makers are establishing fleet positions in Southeast Asia before Chinese rivals take every municipal transit tender. Hyundai is carving out mid-capacity shuttle routes through bilateral development finance and domestic coachbuilding tie-ups. This shields municipal buyers from heavy upfront capital expenditure while securing guaranteed parts inventories.

    The procurement originates from a government memorandum signed between South Korea and Indonesia to decarbonise regional transport links across prime commercial centres. Indonesian officials, including Minister of National Development Planning Rachmat Pambudy and Bali Governor I Wayan Koster, took handover of the keys alongside South Korean Ambassador Soon-gu Yoon.

    Hyundai plans to expand its electrified commercial vehicle network into Jakarta, Semarang and Medan as municipal transport boards prepare follow-up tenders for provincial commuter routes.

  • Shenzhen Scooter Maker LEQI Expands Abroad with Xiaomi Backing

    Shenzhen Scooter Maker LEQI Expands Abroad with Xiaomi Backing

    Shenzhen micro-mobility manufacturer LEQI took first place in worldwide electric scooter shipments in 2025, pushing its overseas expansion beyond basic marketplace sales into specialised categories including rideable luggage and dirt bikes.

    Its subsidiary Megawheels logged 2 million users and took the top market share spot in Japan, while industry tracker QYResearch placed the brand fourth globally in the two-wheeled self-balancing scooter segment in 2026.

    Founded in 2016, the hardware maker sells directly through Amazon, eBay, its own digital storefronts and commercial wholesale channels. The product catalogue now reaches beyond basic stand-up scooters to include electric bicycles, high-speed electric motorcycles and the L3 Smart Electric Suitcase, a motorised carry-on fitted with a fold-out chassis and obstacle-avoidance sensors.

    Engineering Beyond Marketplaces

    Online marketplaces offer Chinese consumer hardware makers an easy route into foreign households without physical dealership networks. The friction surfaces when foreign buyers require local warranty service, replacement battery packs or street-legal certifications.

    Instead of relying purely on commodity e-scooter platforms, LEQI has attempted to share core electric-drive and battery-management software across diverse form factors. High-power-density drivetrains and adaptive sensor software developed for off-road bikes feed into airport transit gear, giving the company higher retail price points than standard commuter devices command.

    The European Compliance Hurdle

    For cross-border consumer brands, technical compliance dictates shelf space faster than digital marketing. German road regulations, for instance, demand strict national operating permits that keep most direct-to-consumer Chinese imports off public cycle tracks.

    LEQI secured Germany’s Allgemeine Betriebserlaubnis road approval for its LEQIsmart A11 scooter in 2023, giving it a regulatory wedge against rivals selling uncertified hardware. Retaining that foothold requires constant updates as European municipal regulators revise speed limits and pavement use rules.

    Funding The Global Network

    Capital from domestic technology giants is financing the step into heavier engineering. LEQI closed a Series B funding round in March 2026 backed by Xiaomi Group and Shunwei Capital.

    That cash injection followed a corporate restructuring in 2021, when the business established its dual-brand strategy split between Megawheels and the primary LEQI nameplate. Proceeds from the 2026 round target artificial intelligence decision-making systems for vehicle control, higher-density battery units and physical supply chain hubs in key destination markets.

    The central test for LEQI is whether its software systems and overseas service networks can support higher-margin vehicles such as dirt bikes before hardware competitors duplicate its rideable luggage designs.

  • Jindal Stainless Deploys 10 Heavy-Duty Electric Trucks for Finished Goods

    Jindal Stainless Deploys 10 Heavy-Duty Electric Trucks for Finished Goods

    Jindal Stainless added ten heavy-duty electric trucks to its outbound transport fleet, shifting finished steel onto battery power for the first time.

    The company deployed the 55-tonne vehicles across a corridor of over 350 kilometres linking its manufacturing complex in Jajpur, Odisha, with distribution destinations in Kharagpur and Kolkata in West Bengal.

    Sourced from Blue Energy Motors, all ten units rely on the manufacturer’s 5548e platform. Moving steel from Jajpur to Kharagpur requires roughly 227 kilometres, followed by approximately 131 kilometres to Kolkata.

    Hardware and Corridor Specs

    Blue Energy offers the 5548e line with battery packs ranging from 282 kWh to 423 kWh. The base 282 kWh setup uses a module-to-bracket lithium iron phosphate pack paired with a 480-horsepower permanent magnet synchronous motor and a four-speed automated manual transmission.

    That entry configuration provides up to 200 kilometres of driving range on a single charge and manages road grades of up to 24 per cent. Recharging from 20 to 80 per cent state of charge takes 45 minutes on a direct-current fast charger, while full battery swaps take five minutes at designated stations.

    “The deployment of electric trucks marks an important milestone in our efforts to decarbonise logistics and integrate lower-emission transportation solutions into our operations. Our approach is focused on adopting practical, scalable solutions that reduce our environmental footprint while maintaining operational efficiency.”

    Fleet Mix and Monthly Volume

    The ten battery units form an initial slice of a broader low-carbon fleet operating across Jindal Stainless’s supply network. The wider lineup contains 80 liquefied natural gas trucks, 60 compressed natural gas passenger buses, and a fleet of CNG freight haulers.

    Management calculates the blended gas and electric vehicle fleet will eliminate about 71 tonnes of carbon dioxide each month, a 26 per cent cut across targeted routes. That estimate assumes monthly finished steel dispatches of 8,000 to 9,000 tonnes and roughly 240,000 kilometres of aggregate road travel.

    Heavy Freight Economics

    Industrial supply chains across India face steep operational hurdles when trading diesel for electric powertrains on runs exceeding 200 kilometres. Because the 5548e platform runs out of juice before completing the 350-kilometre transit between Jajpur and Kolkata, Jindal Stainless must establish reliable charging or pack-swapping stops along the route.

    Fleet operators bear the capital exposure when building proprietary charging depots before national highway infrastructure catches up. If turnaround times drag at midway points, turnaround cycles for finished steel deliveries stretch, chewing into the operating cost savings promised by electric traction.

    Building Out the Transition

    The entry into pure battery electric freight follows an earlier rollout of LNG tractors for long-haul routes and CNG vehicles for local transit. By layering heavy electric haulers on top of existing gas assets, the company aims to trim transport emissions without staking its entire outbound distribution on an unproven charging corridor.

    Watch the turnaround times at intermediate recharging points along the Odisha-West Bengal link as monthly tonnage scales toward the 9,000-tonne target.