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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.

  • Battery Giants Face Skills Gap That Could Jam Electric Highway

    Battery Giants Face Skills Gap That Could Jam Electric Highway

    The South Korean battery giants powering many of the world’s electric vehicles face a skills shortage that could drag on the global race towards zero-emissions transport. The country’s three major players, which command a third of the global electric vehicle (EV) battery market, told Reuters they were all grappling with a shortage of research and engineering specialists as demand for the technology balloons. LG Energy Solution (LGES), SK On, and Samsung SDI Co Ltd all rank in the top-six global battery makers, and supply the likes of Tesla Inc, Volkswagen and Ford Motor Co among others.

    Yet they are facing growing demands from big automakers and can’t find enough technicians with the training needed to keep advancing cutting-edge tech such as solid-state batteries. “Although we are seeing such a growth in the industry, it appears that we are facing a shortage of talent,” an official at LGES said. “It is crucial to recruit external talents as well as nurturing our own talent.” This was echoed by its two big domestic rivals, with SK On describing the sector’s expansion as “exponential”.

    Indeed the global battery sector has doubled in size over the past five years and South Korea is short of almost 3,000 graduate degree-level positions in areas such as research and design, according to the most recent data from the Korea Battery Industry Association, from late 2020. LGES, SK On and Samsung SDI currently have a total of about 19,000 employees.

    The Korean crunch reflects a growing talent shortage across a wider global battery market that, according to IHS Markit forecasters, will triple in size to almost $90 billion by 2025. The EU’s European Battery Alliance planning group, for example, says “re-/up-skilling” is needed in the bloc because its battery industry needs 800,000 new workers by 2025.

    If the global skills gap is not plugged, some industry experts say it could slow the pace of advances in batteries, which are being counted on to clean up road transport, one of the biggest sources of greenhouse gas emissions. “Talent demand in the battery industry outweighs supply, and battery makers are anxious to ensure that they have got this small group of people who can work on this technology, and won’t be left behind in the fast-growing market,” said Samsung Securities analyst Cho Hyun-ryul.

    ‘COMPETITIVE PACKAGES’

    In a sign of the skills pressure, LGES – South Korea’s No.1 battery maker by volume – plans to launch a new “battery-smart factory department” at the prestigious Korea University next spring with guaranteed jobs for graduates.

    More immediately, executives have been flying to the United States to lead recruiting events at schools there. The LGES CEO and his managers went to Los Angeles last month while the SK Innovation CEO and staff hosted an event in San Francisco on Saturday.

    These companies are not only competing with other established Asian players, including market leader CATL from China and Japan’s Panasonic, but fast-growing U.S. and European rivals like Sweden’s Northvolt bridging the technology gap.

    The talent shortage in South Korea is being compounded by some existing employees moving to foreign competitors that had offered better pay, according to two industry sources with knowledge of the matter. They declined to be named due to the sensitivity of the matter.

    Northvolt, which counts Volkswagen as a client, has previously said that some of its employees were recruited from top battery makers, including LGES and Panasonic.

    “We do have few people working for Northvolt that are from South Korea, which is obviously a very impressive country when it comes to battery manufacturing and development with several well-respected companies active in this space,” a spokesperson for the company told Reuters last week.

    “We try to offer competitive packages to our employees – everyone working here is a shareholder in the company for instance,” he added, though did not specify pay details.

    Battery specialists in South Korea newly graduated with doctorate degrees can earn as much as 100 million won ($85,000) a year, and those without that level of qualification average about 80 million won after gaining a few years of experience, according to two sources at major South Korean battery firms.

    South Korea’s average annual salary was 37.4 million won in 2019, according to tax agency data.

    ‘WIN FOR AMERICAN AUTOS’

    The Korean sector has also been mired in internal conflict, with LGES and SK Innovation, which wholly owns SK On, locked in a two-year dispute over technology, trade secrets and staff poaching until April this year when they settled their differences.

    In a signs of the global importance of the two conglomerates, U.S. President Joe Biden – who has made boosting EVs a top priority – described the settlement as “a win for American workers and the American auto industry.”

    “We need a strong, diversified and resilient U.S.-based electric vehicle battery supply chain,” he added.

    Even in the face of the growing skills gap, the worldwide demand for their products has supercharged the battery makers’ expansion plans.

    LGES expects its production capacity to reach 155 gigawatt-hours (GWh) of batteries by the end of this year and plans to raise that to 430 GWh in 2025 that could power about 7.2 million EVs.

    SK Innovation aims to boost its annual production capacity more than five-fold to 220 GWh by 2025 and last week announced the plan to invest 10.2 trillion won with Ford to build three battery plants in the United States.

    Richard Kim, principal analyst at IHS Markit, said the skills gap was likely to be a problem for years to come.

    “The labour shortage in the battery industry has already been a global issue, and the reality is that there has been an imbalance of supply and demand of manpower as many companies start to expand their capacity,” he added.

  • Jaguar XF Joins The Land Rover Defender In The Latest James Bond Flick No Time To Die

    Jaguar XF Joins The Land Rover Defender In The Latest James Bond Flick No Time To Die

    Jaguar Land Rover are one of the official partners for the latest James Bond flick, No Time To Die. The movie has been awaiting a release for a while but the 25th Bond film and finally hit the theatres globally including India on September 30, 2021. The movie will see actor Daniel Craig reprise his role as the MI6 agent for the last time, and joining him will be a slew of JLR cars including the Land Rover Defender as well as the Jaguar XF. In fact, it’s for the first time that the XF will feature in the 007 universe.

    Without sharing any spoilers, Jaguar tells us that the XF will be part of a thrilling chase sequence. The filming for this sequence took place in Matera in the south of Italy, with two XF saloons weaving through the narrow, twisting city streets, driving across piazzas and down cobbled steps in pursuit of the agent. It’s also a part of a few scenes shot in London.

    Chris Corbould, No Time To Die’s special effects and action vehicle supervisor, said, “The Jaguar XF was an exciting choice for this high-intensity car sequence. We always look to push the boundaries to extreme limits in our stunts, and this extends to the capabilities of the vehicles too. There is no compromise with this particular scene. There were only inches to spare in the narrow alleyways and no margin for error, the XF shows its performance and driving dynamics.”

    Anna Gallagher, Jaguar Brand Director, said, “The Jaguar XF is a car designed to tackle any journey with an unrivalled balance of luxury, comfort and refinement. Whether it’s a high-speed pursuit through twisting streets and piazzas of Southern Italy, where the car filmed it’s No Time To Die chase sequences, or the bustling streets of London – the XF really is a car for every occasion.”

    Apart from the Jaguar XF, the new Land Rover Defender will also be a part of the movie along with Triumph Motorcycles, and of course, Aston Martin cars. No Time To Die is now playing in theatres worldwide.
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  • Tata Punch Introduces Engine, Design, Launch Expectations

    Tata Punch Introduces Engine, Design, Launch Expectations

    Tata Motors will pull the wraps off the Punch micro SUV on October 4, 2021. The Indian carmaker will begin accepting pre-bookings for the car on the same day itself. However, select Tata Motors dealers are already taking unofficial bookings for the mini SUV for a token amount ranging up to ₹ 11,000. The Indian carmaker is expected to launch the Punch in the coming weeks, probably around Diwali. It will be the first SUV to employ the ALFA-ARC (Agile Light Flexible Advanced Architecture), developed under Impact 2.0 design language. Here’s all you can expect from the Tata Punch micro SUV.

    The soon-to-be-launched Punch will be the brand’s new entry-level SUV and will be slotted below the Nexon subcompact SUV in the product lineup. The Punch stays true to the HBX concept in terms of design, as the production version has not deviated much from the concept model. The carmaker had previously confirmed that about 90 per cent of styling elements would be retained from the concept.

    The upcoming Tata Punch is likely to be offered in four trim options – Pure, Adventure, Accomplished and Creative. There will be three mono-tone and six dual-tone colour options to choose from. The mini SUV looks like a baby Safari with its aggressive front end sporting a signature split lighting design. It will come equipped with premium features like projector headlamps with LED DRLs, LED taillamps and beefy bumper, underbody and side cladding, faux roof rails and sporty alloy wheels.

    On the inside, the micro SUV will sport a minimalist dashboard with a dual-tone black and white paint scheme. Based on the previous teasers, we can say that the micro SUV will feature a Harman-sourced touchscreen infotainment system with Apple CarPlay and Android Auto. It will also get a multi-functional flat-bottom steering wheel, analog-digital instrument panel, automatic climate control, engine start-stop button, fabric upholstery, and more. The top-spec model is likely to get the iRA connected car tech.

    The Tata Punch is likely to be powered by a 1.2-litre Revotron petrol engine tuned to make 85 bhp of maximum power with a peak torque of 113 Nm. The same mill also does duty on the Tiago entry-level car and the Altroz premium hatchback. Transmission options could include a 5-speed manual as standard along with an optional AMT unit.

  • Tesla Vehicle Deliveries Hit Another Record In Q3

    Tesla Vehicle Deliveries Hit Another Record In Q3

    Tesla Inc said on Saturday it had delivered a record electric cars in the third quarter, beating Wall Street estimates after Chief Executive Elon Musk asked staff to “go super hardcore” to make a quarter-end delivery push.

    Tesla has weathered the chip crisis better than rivals, with its overall deliveries surging 20% in the July to September period from its previous record in the second quarter, marking the sixth consecutive quarter-on-quarter gains.

    In China, rising exports to Europe and the introduction of a cheaper Model Y helped boost Tesla’s production, analysts said.

    Musk said Tesla suffered an extremely severe parts shortage earlier in the third quarter and had urged employees to make quarter-end delivery push, Reuters reported last month, citing an internal company email.

    “The end-of-quarter delivery wave is unusually high this time,” he said in the email.

    Tesla delivered 241,300 vehicles globally in the July to September quarter, up 73% from a year earlier. Analysts had expected the electric-car maker to deliver 229,242 vehicles, according to Refinitiv data.

    General Motors, Honda and some of its bigger rivals posted declines in U.S. sales in the third quarter, hit by a prolonged chip shortage. GM’s third-quarter U.S. sales fell nearly 33% to its lowest level in more than a decade.

    Tesla said it delivered 232,025 of its Model 3 compact cars and Model Y sport-utility vehicles and 9,275 of its flagship Model S and Model X cars to customers in the quarter.

    Total production in the third quarter rose over 15% to 237,823 vehicles from the prior quarter.

    Gary Black, portfolio manager at the Future Fund and a Tesla bull, said that Tesla’s deliveries were driven by record deliveries in China, which was “putting to rest any notion China demand is slowing.”

    Tesla faces scrutiny from both regulators and the public and growing competition from local rivals.

    Tesla has not released its September China sales yet, and in August, its Shanghai factory exported more than two thirds of its vehicles to Europe and Asian countries.

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  • Continental Restructures Technology Unit, Downsizes Board

    Continental Restructures Technology Unit, Downsizes Board

    Continental’s tyres business and the ContiTech division, focused on rubber technologies, will become independent group sectors, while its Automotive Technologies branch will split into five business areas including a new focus on smart mobility and user experience.

    German car parts maker Continental announced plans for a restructuring that will combine from the start of next year business activities around connectivity, mobility, and high-performance computers, it said on Thursday. Its tyres business and the ContiTech division, focused on rubber technologies, will become independent group sectors, while its Automotive Technologies branch will split into five business areas including a new focus on smart mobility and user experience, a statement said.

    The restructuring is a further step by Continental to reorganise its business after spinning off its powertrain unit Vitesco in mid-September.

    Continental will combine business activities around connectivity, mobility, and high-performance computer

    “Mobility of the future is sustainable, automated and connected,” Chief Executive Nicola Setzer said in a statement. “We are thus making the most of the potential presented by our unique strong technology position in all of these fields.”

    As part of the restructuring, management board members Helmut Matschi and Frank Jourdan will step down, nearly three years before the end of their contracts. That will shrink Continental’s board to five members from Jan. 1.

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  • Triumph Extends Partnership With Distinguished Gentleman’s Ride

    Triumph Extends Partnership With Distinguished Gentleman’s Ride

    Triumph Motorcycles will continue as the main partner and supporter of the Distinguished Gentleman’s Ride for five more years, having supported the charity motorcycle fundraiser since 2014. The Distinguished Gentleman’s Ride, or DGR, as it’s also known, was initially founded to raise both funds and awareness for prostate cancer research and men’s mental health. The DGR has gone on to become an iconic and stylish global event on the motorcycle charity calendar each year, uniting classic and vintage bike riders the world over on a single-day event every year.

    In 2014, the DGR raised a total of $1.5 million, taking place in 58 countries with around 20,000 riders dressing up to participate in the event. In 2019, the event grew to raise a record-breaking $6 million, with 1,16,000 riders participating across 104 countries. As the DGR’s major sponsor since 2014, Triumph Motorcycles has supported DGR founder Mike Hawwa and his team in helping develop the DGR into the global event that it is today.

    “In 2014 when we first partnered with Triumph Motorcycles, I was incredibly excited. They are the only motorcycle manufacturer that I felt perfectly fit with The Distinguished Gentleman’s Ride. We’ve done some wonderful things since then; together we have been able to reward some of our top and most dedicated fundraisers with brand new bikes from the modern classic range and built the custom one-of-one 2021 Triumph Thruxton ₹ Today, 8 years later as we announce the 5-year continuation of this partnership, I am even more excited than I was in 2014 because, with the next 5 years, I know that we can do even more together with the goal of raising funds and awareness of men’s health,” said Mike Hawwa, Founder/Director of The Distinguished Gentleman’s Ride.

    The 2020 COVID-19 pandemic presented a challenge to organize the group ride event that the DGR is. Despite the difficulties and challenges, the DGR developed a new format that made it possible for riders to show their support and passion safely, with the Ride Solo Together event. The DGR community achieved its most global event ever in 2021, with 171 countries and 2,531 locations riding solo together, all connected together through social media.

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  • Brussels Urges Volkswagen To Compensate All EU Dieselgate

    Brussels Urges Volkswagen To Compensate All EU Dieselgate

    Brussels on Tuesday called on Volkswagen to pay out all European consumers – and not just German ones – affected by the “Dieselgate” scandal in which the automaker tampered with vehicle emissions to cheat pollution tests.

    EU Justice Commissioner Didier Reynders said in a statement that VW “is not willing to work with consumer organisations to find appropriate solutions for consumers,” noting that it so far is only making payouts to German and US purchasers of its affected vehicles.

    “All consumers need to be compensated,” Reynders said.

  • Vietnam’s carmaker VinFast eyes more countries for its European strategy

    Vietnam’s carmaker VinFast eyes more countries for its European strategy

    Vietnamese carmaker VinFast could add other markets in 2023 to expand its European strategy beyond a planned debut in Germany, France and the Netherlands next year.

    The company, a unit of Vingroup Jsc, Vietnam’s largest conglomerate which some have called “Vietnam’s answer to Tesla,” will debut in Europe next year with two battery-electric SUVs models, the midsized VF e35 and the seven-seater VF e36, both designed by Italy’s Pininfarina.

    The two models launch in Vietnam, North America and Europe around mid-2022, after an unveiling planned later this year.

    VinFast became Vietnam’s first fully-fledged domestic car manufacturer when its first gasoline-powered models built under its own badge hit the streets in 2019.

    VinFast’s B2B Sales Vice President Emiel Hendriksen said on Thursday it was also looking at Italy, Scandinavia, Switzerland and Austria for a second step in its European strategy.

    “We’re considering those countries for 2023,” he said during a presentation at Pininfarina headquarters in Turin.

    VinFast will initially rely on a direct distribution model in Germany, France and the Netherlands, based on property showrooms, but could later consider an agency model for sales in other countries, Hendriksen said.

    The company sold about 30,000 vehicles domestically last year and had set a target of selling 15,000 electric vehicles in 2022, although its representatives did not provide detailed forecasts for the European market on Thursday.

    Earlier this year sources said parent Vingroup JSC was considering an U.S. initial public offering (IPO) of its car unit that could value VinFast at about $60 billion, though an initial second-quarter deadline for the deal mentioned by one of the sources was delayed.

    VinFast Europe CEO Bich Tran said any IPO decision was up to the company’s headquarters in Vietnam.

    “Our European plans are independent from any IPO. We’re carrying on with our plans, everything in Europe is moving as planned,” she said.

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  • Volvo Cars To Go Leather-Free In All Pure Electric

    Volvo Cars To Go Leather-Free In All Pure Electric

    Volvo Cars is taking an ethical stand for animal welfare in its fully electric cars. Starting with the new C40 Recharge, all-new fully electric Volvo models will be completely leather-free. In the coming years, Volvo Cars will launch a completely new family of pure electric cars. By 2030 it aims to offer only fully electric cars – all of them leather-free.

    As part of its ambitions to go completely leather-free, Volvo Cars is working actively to find high-quality and sustainable sources for many materials currently used in the wider car industry. By 2025, the company is aiming for 25 percent of the material in new Volvo cars to consist of recycled and bio-based content, as it looks to become a fully circular business by 2040. As part of its climate action plans, it also aims for all its immediate suppliers, including material suppliers, to use 100 percent renewable energy by 2025.

    Volvo Cars has created a new interior material – Nordico. It will consist of textiles made from recycled material such as PET bottles, bio-attributed material from sustainable forests in Sweden and Finland, and corks recycled from the wine industry.

    The company’s move towards leather-free interiors is also driven by a concern about the negative environmental impacts of cattle farming, including deforestation. Livestock is estimated to be responsible for around 14% of global greenhouse gas emissions from human activity, with the majority coming from cattle farming.

    Instead of leather interior options, Volvo Cars will offer its customers alternatives such as high-quality sustainable materials made from bio-based and recycled sources.

    For example, Nordico, a new interior material created by Volvo Cars, will consist of textiles made from recycled material such as PET bottles, bio-attributed material from sustainable forests in Sweden and Finland, and corks recycled from the wine industry – setting a new standard for premium interior design. This material will make its debut in the next generation of Volvo models.

    Instead of leather interior options, Volvo Cars will offer its customers alternatives such as high-quality sustainable materials made from bio-based and recycled sources.

    Volvo Cars will also continue to offer wool blend options from suppliers that are certified to source responsibly, as the company looks to ensure full traceability and animal welfare in its wool supply chain. Volvo Cars is also looking to reduce the use of residual products from livestock production commonly used within or in the production of plastics, rubber, lubricants and adhesives, either as part of the material or as a process chemical in the material’s production or treatment.

    The company takes this step because it believes that while going leather-free is a step in the right direction, doing so alone does not make a car interior vegan.

    By aiming to actively replace these materials as much as possible, Volvo Cars takes a strong and ethical position to do what it can to help stop animal harm, by contributing to a reduced demand for these materials containing animal products.

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  • Tesla Shanghai’s Jan-Sept 2021 Production To Reach 300,000 Units Despite Chip Shortage

    Tesla Shanghai’s Jan-Sept 2021 Production To Reach 300,000 Units Despite Chip Shortage

    Tesla’s Shanghai factory is expected to produce 300,000 cars in the first nine months of the year, capped by a delivery rush in the end of the July-September quarter, despite a global semiconductor shortage, two sources said. The factory makes the electric Model 3 sedans and Model Y sport-utility vehicles for domestic and international markets, including Germany and Japan.

    Around 240,000 vehicles were shipped from the factory in the first eight months, including many for export, according to data from the China Passenger Car Association. Tesla has not announced details on the factory’s production.An official in the area where Tesla’s factory is located said it is expected to produce 450,000 vehicles this year, including 66,100 for export.

    The sources requested anonymity, as they were not allowed to speak to media. Tesla did not immediately respond to a request for comment.

    In August, an official in the area where Tesla’s factory is located said it is expected to produce 450,000 vehicles this year, including 66,100 for export.

    Tesla is hiring managers for legal and external relations teams in China as it faces public scrutiny in the country over data security and customer service complaints.

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  • ExxonMobil Launches Mobil Super TM SUV Pro Synthetic Engine Oil

    ExxonMobil Launches Mobil Super TM SUV Pro Synthetic Engine Oil

    ExxonMobil Lubricant has launched Mobil SuperTM SUV Pro synthetic engine oil for SUVs in India. Basically, the company is trying to tap into the growing demand for SUVs with the branding. The engine oil is based on ASTM D6891 (Seq. IVA) test results versus API SN engine test requirements. The company claims that it offers 79 percent better engine wear protection as well, especially in stop-and-go traffic conditions, and helps to improve fuel-economy.

    Deepankar Banerjee, Chief Executive Officer (CEO), ExxonMobil Lubricants Pvt Ltd. Said, “People are turning to SUVs to more easily maneuver through dense traffic, handle bad weather conditions, and drive over rugged terrain. To meet the needs of SUV owners, we are introducing Mobil Super SUV Pro which is specially formulated with active ingredients for SUV engines. Whether you use your SUV for daily commute or weekend drives, our new Mobil Super SUV Pro is packed with features to deliver All-in-One Protection for every terrain, making it easier for all SUV owners to care for their cars.”

    The engine oil has been developed to provide superior low-speed pre-ignition protection to prevent internal engine damage along with all-weather protection for longer engine life. It also provides heat-activated anti-wear protection. The Mobil Super SUV Pro is suitable for both diesel and petrol engines and meets American Petroleum Institute (API) SN Plus and European Automobile Manufacturers’ Association (ACEA) A3/B4 Standards. Mobil Super SUV Pro is available in 1, 3.5, and 5-litre pack sizes at Mobil Authorized Retail stores, Mobil Car Care stores and Amazon.

  • Royal Enfield To Witness Exit Of Key Management Personnel

    Royal Enfield To Witness Exit Of Key Management Personnel

    Royal Enfield is witnessing a shakedown in its top management, after Chief Executive Officer Vinod Dasari stepped down from his position in August 2021. The company’s COO B. Govindrajan has been appointed Executive Director to lead the company, and replace Dasari. Now, according to the latest reports, the company will likely see a fresh round of exits from its senior management. According to reports, Lalit Malik, the Chief Commercial Officer of Royal Enfield has already put in his papers, and Shubhranshu Singh, Global Head of Marketing is already serving his notice period.

    The resignations and shakedown in Royal Enfield’s senior management comes at a crucial time when the brand is expanding in overseas markets, to grab a leadership position in the mid-size motorcycle segment. With the launch of the Royal Enfield 650 Twins three years ago, Royal Enfield has been on the product offensive and has recently launched the all-new Classic 350, built around an all-new platform with the J-Series engine also shared with the Meteor 350. The shakedown in the top management couldn’t have come at a worse time, when multiple new products are being planned, with Royal Enfield planning to introduce a new product every quarter.

    In fact, other reports suggest that Royal Enfield has let go of nearly 100 employees as part of its annual performance review. The measures are being described as “right-sizing” the workforce as part of the brand’s Project Restore initiative. The initiative intends to attain a 25 percent operating margin for the brand, and average sales volumes of 50,000 units a month. In August 2021, Royal Enfield reported a 9 percent decline in monthly sales, with domestic sales slipping by 18 percent. The only silver lining is the 164 percent jump in exports, but overseas sales volumes are a meagre 6,790 units in August 2021, compared to domestic sales volumes of 39,070 units in the same month.

    The coming months will be critical for Royal Enfield, as the brand struggles to find replacements for its senior management, and at the same time, go forward with its new product offensive, as well as stabilize sales volumes.

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  • Cadillac Lyriq Sold Out In 90 Mins

    Cadillac Lyriq Sold Out In 90 Mins

    The Cadillac Lyriq has been the long-talked-about electric SUV that the luxury brand by GM has been working on and already it has been sold out in 90 minutes. The car which is also due to come in 2022 and now Cadillac has announced the “Debut Edition” has been reserved. So far Cadillac has only opened reservations for the “Debut Edition”.

    The luxury EV play costs upwards of $60,000 and the car will have a 100 kWh battery that has 335 bhp in power and coughs up 482.8 kilometers of range. It even supports 19.2kW AC charging and can even do 190 kW DC fast charging. It is also one of the first cars to feature GM’s ADAS stack called Super Cruise powered by Cruise, the self-driving car company capitalized by GM.

    “2023 Cadillac LYRIQ Debut Edition reservations are full, but more vehicles will be available to order through your Cadillac dealer starting the Summer of 2022. Contact your dealer for more details,” announced Cadillac.

    Deliveries for the Lyriq are supposed to start in Q2 of 2022 but that could change considering the global semiconductor shortage. It joins the likes of the Ford F-150 Lightning and Tesla Cybertruck as major EVs that will be delivered to consumers in 2022. Rivian has already started deliveries of the R1T and will soon launch new trims of the car in 2022.

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  • Honda Targets Annual Sales Of 70,000 Prologue Electric Vehicles In U.S. From 2024

    Honda Targets Annual Sales Of 70,000 Prologue Electric Vehicles In U.S. From 2024

    Honda Motor Co’s U.S. unit said on Monday it is targeting initial annual sales of 70,000 for its planned electric Prologue sport utility vehicle when it goes to market in 2024. Honda plans to add additional electric vehicle models as it aims to have sold a total of 500,000 electric vehicles in the United States by 2030, and to achieve 100% zero-emission vehicles sales in North America by 2040. It comes as President Joe Biden signed an executive order last month setting a target to make half of all new passenger vehicles sold in 2030 zero-emissions vehicles.

    The Honda Prologue is being co-developed with General Motors Co and is based on the Detroit automaker’s Ultium platform, a modular platform and battery system. Honda and GM are also co-developing an electric Acura-brand SUV. GM will assemble the Prologue and the Acura SUV — both of which will go on sale in 2024 — but Honda has not disclosed which plant will build the vehicles or the name or volume targets for the Acura.

    Following the GM-built models, Honda will introduce a series of electrified vehicles through 2030 based on the Honda-developed e-Architecture, a new EV platform led by Honda, and will assemble electric vehicles at Honda plants in North America.

    Dave Gardner, executive vice president of national operations at American Honda Motor Co, said in a statement Honda will initially focus Prologue sales on California and other states like Texas and Florida. He said Honda plans to add hybrid-electric systems to more U.S. models. “Our strategy is focused on introducing a higher percentage of hybrids in core models in the near term, making a committed effort to achieve higher volume leading to the introduction of our Honda Prologue,” Gardner said.

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  • China Tells Firms To Boost Cyber, Data Security Oversight On Connected Vehicles

    China Tells Firms To Boost Cyber, Data Security Oversight On Connected Vehicles

    China’s industry ministry published a notice on Thursday telling companies to step up cyber and data security oversight over connected vehicles, saying that security risks in the industry had become increasingly prominent.

    All relevant companies should establish data security management systems and regularly assess risks from network attacks, the Ministry of Industry and Information Technology said in a statement.