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  • Tesla Hikes Electric Car Prices In U.S.

    Tesla Hikes Electric Car Prices In U.S.

    Tesla Inc showed signs of divergent strategies in the world’s two biggest automotive markets, raising prices to boost profit margins in the United States while keeping prices steady in China and hoping to grow sales there. Tesla raised prices for the most affordable versions of Model 3 and Model Y about a dozen times this year in the United States, according to data tracked by Reuters. At the same time, Tesla recently introduced an affordable Model Y version in China, where it refrained from price hikes. Tesla posted record vehicle deliveries in the second quarter, and the price increases in North America boosted quarterly profits to a record.

    But in China, the world’s biggest electric vehicle (EV) market, Tesla faces competition from local rivals and problems that include product recalls, high-profile protests by consumers and pressure from regulators. Bernstein analyst Toni Sacconaghi said introduction of the lower-priced Model Y in China “may make sustained margin improvement difficult” for Tesla and raises questions about “the health of Chinese demand.” A study by Bernstein analysts found Tesla owners in China were less enthusiastic and had lower repurchase intentions than owners in the United States and Europe.

    Tesla raised prices for Model Y Long Range at least six times in the United States this year, bumping by $5,500 to $53,990. In China, the world’s most valuable carmaker raised prices of the Model Y SUV and Model 3 sedan only once this year. The Model Y version has a price tag of 276,000 yuan ($42,394). The company also has launched promotional campaigns in China such as loan offers.

    “I think Tesla is looking to be as competitive as it can be in China. Lower prices will be a part of that aggressive market positioning,” Roth Capital Partners analyst Craig Irwin said. “There is a very large difference in battery prices in the U.S. and China, as well as local vehicle manufacturing costs.”

    Tesla started production at its Shanghai factory in late 2019. It has boosted sourcing of cheaper local components, including batteries from China’s CATL and LG’s Chinese factory. “It wasn’t so long ago that the group was trimming prices in the U.S. to gain scale and maximize profitability, and it feels like we’re now seeing that in China too,” Hargreaves Lansdown analyst Nicholas Hyett said. The low cost of producing local EVs in China would have a lasting effect for Tesla, said Gene Munster at Loup Ventures.

    “Teslas are on average 3x the cost of a typical EV made in China so they have to be priced less than the U.S. to compete,” Munster said. “Prices of Teslas in China will be below (the) rest of the world for the next decade.” Tesla also cut costs and boosted margins in the U.S. market by getting rid of some parts like a radar sensor and lumbar support. Tesla shares closed up 0.3% on Wednesday after falling the previous session.

    In China, Tesla’s share slipped to 11% in the battery electric vehicle market, which excludes plug-in hybrid cars, in the second quarter from 18% a year earlier, according to GLJ research. But data from Morgan Stanley showed Tesla still held a U.S. battery-electric market share of nearly 70% as of February, although that was down from 81% a year earlier.

    China accounts for 44% of the global EV market, a much bigger share than the 17% held by the United States.

    In China, Tesla faces competition from electric vehicle makers like Nio Inc and Xpeng Inc. In the United States, Tesla’s brand is stronger and its main rivals are legacy automakers like Ford and General Motors, which generate only a fraction of their sales from EVs.

    Tesla CEO Elon Musk has reiterated that the company’s mission is to make electric cars affordable and has blamed vehicle price increases on a shortage of chips and raw materials.

    Tesla is coping with the chip shortage by using alternative chips and rewriting software, Musk said.

    He provided a cautious outlook for chip shortage. “It does seem like it’s getting better,” he said on the second-quarter earnings call, but added: “it’s hard to predict.”

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  • Toyota Extends Battery Warranty On Camry, Vellfire To 8 Years In India

    Toyota Extends Battery Warranty On Camry, Vellfire To 8 Years In India

    In line with its commitment to encourage the adoption of electrified vehicles, Toyota Kirloskar Motor today announced the extension of battery warranty for its Self-charging Hybrid Electric Vehicles (SHEVs) in India. Currently, the company offers only two cars with hybrid technology and that’s the Camry and the Vellfire. The warranty is extended from the existing three years or 100,000 kilometres to eight years or 160,000 kilometres (whichever comes first). Both cars sold with effect from August 1, 2021, will come with this warranty.

    Toyota was the first carmaker to bring hybrid electric vehicles to the Indian market with products such as the Prius and Camry. The Camry has been a very successful car for the company in India, so much so that the new model which was launched a couple of years ago, was brought to India in a hybrid-only avatar.

    V. Wiseline Sigamani, Associate General Manager (AGM), Sales and Strategic Marketing, Toyota Kirloskar Motor said, “Hybrids can run 40% of the distance and 60% of the time as an electric vehicle with a petrol engine shut off, as proven in a study by iCAT, a Government testing agency. This gives hybrids tremendous fuel efficiency improvements of 35 to 50% and much lower carbon emissions. In India, over the years (cumulative), sale of Toyota Camry Hybrid vehicles alone has resulted in CO2 emission reduction of over 18 million kilograms and fossil fuel savings of over 7.6 million litres.”

  • Bentley Develops 22-Inch Carbon Fibre Wheel For The Bentayga

    Bentley Develops 22-Inch Carbon Fibre Wheel For The Bentayga

    After years of development with leading composite suppliers, Bentley has announced a new carbon fiber wheel developed specifically for the Bentayga. The 22-inch carbon wheel, engineered with renowned specialists Bucci Composites, is to be the largest carbon wheel in production in the world and offers a vast range of benefits beyond the initial 6 kg improvement in unsprung mass per wheel.

    The new carbon wheel has been subjected to the exceptionally rigorous TUV (Technischer Uberwachungsverei – Technical Inspection Association) standards and is the first carbon wheel ever produced to pass all tests. The newly developed rim has undergone the most rigorous testing for non-metallic wheels according to the new TUV standards including biaxial stress testing, radial and lateral impact testing for simulating potholes and cobblestones, tire overpressure, and excessive torque tests exceeding the permitted limits.

    One of the most severe tests of the TUV requirements – the impact test – has shown how the carbon rim is extremely safe in addition to the performance benefits. After a severe impact that would crack or shatter an aluminum wheel, causing the tire to collapse explosively, the carbon fiber rim allows a slow tire deflation thanks to the intelligent layering of fiber weaves, allowing the vehicle to come to a controlled, safe stop. For the final sign-off stage, the wheel was put through its paces on one of the most famous tracks in the world – the Nurburgring Nordschleife and it passed that test with flying colors.

    The new wheel will be available to order from later this year

  • Hyundai Pitches For Import Duty Cut On Electric Vehicles

    Hyundai Pitches For Import Duty Cut On Electric Vehicles

    Any duty rate cut by the government on imported electric vehicles would be very beneficial as it would help automakers generate much-needed volumes and reach some viable scale, South Korean auto major Hyundai said on Tuesday. The automaker, which inaugurated its new corporate headquarters here, supported the demand of the American electric car major Tesla which has sought to lower of duties on imported EVs. Hyundai noted that support from the government in terms of taxation and the creation of country-wide charging infrastructure were the two most critical factors to grow the EV segment in India.

    “We have heard that Tesla is seeking some duty cuts on imports of CBUs. So, that would be very helpful for the OEMs to reach some economy of scale in this very price competitive segment,” Hyundai Motor India MD and CEO S S Kim told reporters here. Till the time companies are able to localize EV components and other infrastructure, EV imports could help generate some market in the country, he added.

    “It will take OEMs time to localize EVs by 100 pc. We are developing Made in India affordable mass-market EV but at the same time if the government allows some reduction in the duty on imported CBUs that would be very helpful for all of us to create some market demand and reach some scale,” Kim noted.

    At present, cars imported as completely built units (CBUs) attract customs duty ranging from 60 percent to 100 percent, depending on engine size and cost, insurance and freight (CIF) value less or above USD 40,000. Last week Tesla Chief Executive Officer Elon Musk had said that the company may set up a manufacturing unit in India if it first succeeds with imported vehicles in the country. He, however, said at present import duties in India are ”the highest in the world” and is hoping for ”at least a temporary tariff relief for electric vehicles”.

    Interacting on Twitter with followers who asked him to launch Tesla cars in India, Musk said, “We want to do so, but import duties are the highest in the world by far of any large country!” Musk further said, “Clean energy vehicles are treated the same as diesel or petrol, which does not seem entirely consistent with the climate goals of India.” He, however, said, “We are hopeful that there will be at least a temporary tariff relief for electric vehicles. That would be much appreciated.”

    Asked by a follower if Tesla could start with local assembly in India, Musk said, “If Tesla is able to succeed with imported vehicles, then a factory in India is quite likely.” Kim noted that the domestic market is ready for electric two- and three-wheelers but it may take some time before four-wheelers gain a foothold. “We need some more support from the government in terms of tax and some incentives. From our experience in various global markets, such as South Korea, China and some European countries, we know that in India there still remains the anxiety related to charging infrastructure and the pricing of EVs,” he stated.

    Range anxiety is a very serious matter from a customer viewpoint, he said. Kim noted that in order to make EVs affordable, the government can offer subsidies under the FAME scheme to private customers as well. He added that with government support the industry can reach some level of scale in two years.

    “If we have some meaningful support, even for the private customer, that would be very helpful. Also the tax reduction will be great for the customer. If the demand is there and the market is starting to grow, I think that in two years we can reach a meaningful point in terms of scale and from that point we can manage,” Kim noted. “Until we reach that point we need support from the government and that would be very critical for the segment,” he added. He said that the company can look at two options for rolling out EVs in India.

    “Either we can find some local partner here or we can bring some global partner here. When we entered India 25 years ago we brought 50 tier 1 vendors with us. Now they operate on a global basis from here. We want to set up this kind of ecosystem here. So we are studying various options,” Kim said.

    On developing charging infrastructure in the country, he noted that the company could take some measures but it would be very limited in scale. “Not only reduction in duties but more investment on charging infrastructure from the government would be critical for the future of EV market in the country. The customer is most concerned about the range and charging options. In this regard we need some very strong support from the government,” he added. On introducing the EV model Ioniq in the country, Kim said, “Ioniq is a great looking and performance vehicle. We are studying the feasibility of the model. If the market and the customer want that vehicle we can try to bring it.”

    The company currently sells only Kona Electric SUV in the country. It is said to be working to locally develop its second EV model which would be on the affordable side. On new corporate headquarters, Kim said the company has invested over Rs 1,000 crore on the project till date. “This new building stands as a symbol of the company”s journey of togetherness with the people of India,” he noted.

    When asked if the company would also consider Haryana to set up its next factory in the country, Kim said: “In the coming two years we have no issues in meeting the demand (from Chennai plant) so after that, if we need some more capacity we will work out some strategy at that time. Any place could be a good candidate but it would be based on things like procurement, supplier chain and availability of labor force etc.”

    The new corporate office, with a built-up area of over 28,000 square meters, was inaugurated by Haryana Chief Minister Manohar Lal. Interestingly, Maruti Suzuki India Managing director Kenichi Ayukawa, who is also the SIAM President currently, also attended the inauguration ceremony. Speaking at the occasion, the chief minister said the state government is providing all kinds of support to corporates willing to invest in the state.

    Hyundai Motor India Director (Sales, Marketing and Service) Tarun Garg noted that there has been a shift towards personal mobility due to the ongoing pandemic. “We are witnessing good traction right now…it seems that July this year probably the industry would be somewhere around July 2018 which is a positive sign. At the same time there are concerns like fuel prices, a third wave of COVID, there are issues regarding supply chain. There are still various challenges. So we are taking it month by month and let”s see how it goes,”he noted when asked about the demand scenario in the domestic market.

    Since its entry into Indian market in 1998, Hyundai has invested over Rs USD 4 billion in the country. From selling one model in 1998, it now sells 12 models in the country with a market share of 17 percent in the passenger vehicle segment.

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  • Electric cars fail to get charged up without policy support

    Electric cars fail to get charged up without policy support

    A lack of policies promoting battery production and building a charging station network is preventing the electric car market in Vietnam from hitting the road running.

    At the end of March, automaker VinFast began accepting pre-orders for its first electric cars. More than 4,000 orders were placed on the very first day.

    The company has requested several incentives for electric vehicle development, including scrapping special consumption tax and registration fees on electric cars for five years.

    Some brands have imported electric and hybrid vehicles into Vietnam earlier.

    In August last year, Toyota started selling its first hybrid cars in Vietnam with low fuel consumption, giving 100 km for 4.6 liters of fuel.

    Mitsubishi also distributed its i-MiEV cars in Vietnam in 2017 and installed charging stations in some localities. However, after 10 years of making efforts to distribute them to many different markets, the company has stopped manufacturing the vehicles now.

    Last year, around 1,000 electric and hybrid vehicles were sold in Vietnam, with the latter accounting for 99 percent. The figure for gas powered vehicles was over 296,000 units.

    The Ministry of Industry and Trade said in a recent report to the government that there has not been real support policy for electric cars.

    Apart from VinFast which is manufacturing the vehicles, foreign brands like Honda, Toyota and Mitsubishi have mostly been importing electric vehicles without any concrete plan to make them in Vietnam.

    Experts say that the lack of a systemic policy to support the industry concerning the manufacturing of battery, the development charging infrastructure, prices and emission.

    “Batteries need to have high durability and have quick charge function, while the charging station network should be widespread. These factors are what missing in Vietnam’s electric car industry,” said an expert in the auto industry who asked not be identified.

    VinFast is set to tackle these challenges with plans to set up over 2,000 charging stations nationwide by the end of this year.

    The industry ministry report said that prices for electric vehicles are not enticing enough compared to fuel vehicles.

    A 15 percent special consumption tax on electric cars, compared to 30-50 percent on fuel cars, is not enough to bring electric car prices down to an attractive level to customers, it said.

    Another challenge is electric vehicles will still be using coal-fired and oil-fired electricity which has high emission, as renewable energy is not stable and has high price tag, the it added.

    Dau Anh Tuan, head of the Vietnam Chamber of Commerce and Industry’s legal department, proposed that cars be applied a special consumption tax based on how much carbon dioxide they release into the environment, which will help encourage people to switch to electric vehicles.

    Policies should focus on supporting Vietnamese companies to make electric vehicles, not foreign ones, he added.

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  • Tesla Launches Subscription Service For Advanced Driver Assistance Software

    Tesla Launches Subscription Service For Advanced Driver Assistance Software

    Tesla Inc said on Saturday it has introduced an option for some customers to subscribe to its advanced driver assistance software, dubbed “Full Self-Driving capability”, for $199 per month, instead of paying $10,000 upfront. Tesla has previously said its subscription service would generate recurring revenue and expand the customer base for pricy features including lane changing on highways and parking assistance.

    But the U.S. electric carmaker reiterated on Saturday that the current features “do not make the vehicle autonomous,” adding they “require a fully attentive driver, who has their hands on the wheel.””FSD capability subscriptions are currently available to eligible vehicles in the United States. Check your Tesla app for updates on availability in other regions,” Tesla said on its website.

    Tesla’s CFO Zachary Kirkhorn said in April that its planned subscription service would generate recurring revenue for the company, although “there could be a period of time in which cash reduces in the near term.”

    “If … you look at the number of customers who did not purchase FSD upfront or on a lease and maybe want to experiment with FSD, this is a great option for them,” he said during an earnings call in April.

    Tesla said the subscription service is available in vehicles equipped with Full Self-Driving computer 3.0 or above. It told customers that upgrading to the new hardware will cost $1,500.

    Tesla Chief Executive Elon Musk forecast in 2019 that robotaxis with no human drivers would be available in some U.S. markets in 2020. In March, Tesla told a California regulator that it may not achieve full self-driving technology by the end of this year.

    Tesla has been testing its new semi-autonomous driving software for city streets and last week released “FSD Beta v9” to a limited number of customers.

  • Tesla Propels 95 Per Cent Increase In EV Sales In The US

    Tesla Propels 95 Per Cent Increase In EV Sales In The US

    Tesla is the world’s largest EV maker and it is also the largest EV player in the US, considering the states are its home turf. So it shouldn’t come as a surprise that Tesla has propelled 95 percent of the increase in EV sales in the US as per a report by Experian.

    While this is true, its market share is coming down as traditional automakers start to deploy their EV solutions which are increasingly becoming competitive with Tesla. In 2020, Tesla accounted for 79 percent of all the electric vehicles registered in the states. But in 2020, the US was hit hard by the pandemic and it only managed an 11 percent increase in EV adoption in the US. That’s changed dramatically in 2021 and we have barely crossed the halfway mark for the year.

    Tesla’s market share has dropped to 71 percent thanks to the introduction of new EVs like the Ford Mustang Mach-E, the Audi E-Tron and the Porsche Taycan. Some older EVs like the Hyundai Kona, Nissan Leaf, and Chevrolet Bolt EV are also seeing increased traction which is why Tesla’s market share has dipped, but overall, the sale of its Model Y and Model 3 is booming.

    Likely, with new avatars of the Model S and Model X just launched they will also see more traction. The top-selling EVs list is restricted to data from between January to April 2021.

    1. Tesla Model Y: 53,102
    2. Tesla Model 3: 35,468
    3. Chevrolet Bolt EV: 13,611
    4. Ford Mustang Mach-E: 6,104
    5. Nissan Leaf: 5,023
    6. Audi e-Tron: 4,321
    7. Porsche Taycan: 3,002
    8. Hyundai Kona: 2,192
    9. Tesla Model X: 1,730
    10. Tesla Model S: 1,633

  • Dodge To Launch Its First All-Electric Muscle Car In 2024

    Dodge To Launch Its First All-Electric Muscle Car In 2024

    Dodge, the American carmaker has announced that it will launch the world’s first full battery electric muscle car in 2024. Part of its parent company Stellantis’ larger plan to achieve electrification across its group brands, the new electric vehicle will mark the entry of the iconic muscle carmaker, which is known for its high-horsepower V8 engines, into the EV space. The announcement came as part of the Stellantis EV Day 2021, and the company has also teased the concept version of the all-electric Dodge which we expect will be revealed soon.

    Now, based on the elements revealed in the teaser released by Dodge, we can assume that the company is likely to go for a retro design for the EV, featuring a muscular exterior. However, what’s even more interesting is the Fratzog logo which has been highlighted in the teaser video. The triangular logo was used by Dodge in the 1960s and ’70s, on the car’s grille, and Dodge says that using it is “a nod to the future, which will bring about another great automotive era – the era of the electrified muscle car.”

    Right now, it’s unclear whether the new EV will be the electric version of the two-door Dodge Challenger or the four-door Charger or a new vehicle altogether. However, we expect the new electric muscle car to be built on Stellantis’ ‘STLA Large’ platform, and it could also come with electric all-wheel-drive capability. Technical details and other specifications are expected to be announced later, however, the company claims that the new EV will be capable of doing a 0-100 kmph sprint in about 2 seconds. As for the electric range, the new Dodge EV is expected to offer a range of about 800 km on a single charge.

    Stellantis plans to invest more than 30 billion euro through 2025 in electrification and software development, including equity investments made in joint ventures to fund their activities. Its electric portfolio will also include a range of plug-in hybrid SUVs from Jeep which will arrive by 2022, and an all-electric truck from Ram by 2024.

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  • General Motors To Invest $71 Million For New Design And Tech Campus In California

    General Motors To Invest $71 Million For New Design And Tech Campus In California

    General Motors said on Tuesday it would invest $71 million to establish a new campus in Pasadena, California to expand its capacity in advanced technologies such as flying cars and lunar rover vehicles.

    The campus will be used for GM’s advanced design center operations which focus on developing concepts and future mobility projects that fall outside the scope of existing production vehicle programs.

    General Motors said the campus will include an innovation lab and immersive technology capabilities, including augmented and virtual reality.

    The campus will be used for GM’s advanced design center operations which focus on developing concept and future mobility projects.

    The new site is closer to technology centers on the West Coast and creates a recruiting opportunity with its proximity to leading universities and design schools, the automaker said.

    GM presented in January a futuristic flying Cadillac – a self-driving vehicle that takes off and lands vertically and carries the passenger above the streets and through the air.

    The automaker’s other recent innovative developments include its commercial van business, BrightDrop, and the lunar rover concept developed with Lockheed Martin.

  • Auto sales surge 40 pct

    Auto sales surge 40 pct

    Auto sales in the first six months rose 40 percent year-on-year to 150,481 units, according to Vietnam Automobile Manufacturers Association (VAMA).

    Passenger vehicles saw sales rise 37 percent in the period, while commercial vehicles grew 48 percent and special-purpose vehicles, 68 percent.

    Local brand Truong Hai Auto Corporation retained the top spot with 51,685 units, up 51 percent.

    Toyota saw sales growing 16 percent to 29,239 units, while the figures for Mitsubishi were 45 percent and 14,915 units.

    Honda and Ford made up the rest of the top five.

    The best-selling car model in the first six months was the hatchback VinFast Fadil, followed by two sedans, Hyundai Accent and Toyota Vios.

    Last year sales had fallen by 8 percent to 296,634 units as the Covid-19 pandemic badly affected the economy, hitting people’s incomes and discretionary spending.

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  • Tesla Sold 33,155 China-Made Vehicles In June

    Tesla Sold 33,155 China-Made Vehicles In June

    U.S. electric vehicle maker Tesla Inc sold 33,155 China-made vehicles, including those for export, in June, China Passenger Car Association (CPCA) said on Thursday.

    Tesla, which is making Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 28,138 China-made cars in China and exported 5,017 cars in June.

    In May, Tesla sold 33,463 China-made cars.

    On Thursday, Tesla launched Model Y cars with a standard driving range in China, lowering the starting price for the vehicle to 276,000 yuan ($42,588) in the world’s biggest auto market.

    BYD sold 40,532 so-called new energy vehicles, which include battery-electric and plug-in hybrid vehicles, last month in China. General Motors Co’s venture with SAIC Motor sold 30,479 such cars.

    CPCA also said China sold 1.6 million passenger cars in June, down 5.3% from a year earlier.

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  • Bentley To Launch Electric Car By 2025

    Bentley To Launch Electric Car By 2025

    It was in 2020 that Bentley’s ‘Beyond100’ strategy was announced. It was a roadmap the company’s transformation into the world’s leading sustainable luxury mobility brand and of course, its commitment to an electric future. As a first step towards that, all three Bentley models will be available as luxury hybrid cars by 2023. Two of them – the Flying Spur and Bentayga – already are available in the hybrid avatar.

    However, when it comes to an all-electric model, Bentley will launch one only in 2025. The company also promises that it will also be the first luxury car in the world to be carbon neutral over its entire life. By 2026, the company’s entire range will be made up of electric and plug-in hybrid vehicles.

    As a result of these commitments, the company will evolve from the world’s largest producer of 12-cylinder internal combustion engines, into a purely electric vehicle manufacturer – and all in just ten years. With the goal of a fully electric Bentley line-up by 2030, there remains some way to go, but we can’t wait to see the cars pouring out.

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  • New Electric Hypercar Powerhouse: Rimac Takes Reins At Bugatti

    New Electric Hypercar Powerhouse: Rimac Takes Reins At Bugatti

    112-year-old Bugatti makes some of the most exclusive cars in the world. Its combination of ultra-luxury and mind-boggling speed has defined the hypercar genre for decades, especially under the stewardship of the Volkswagen group, it has thrived since 1998. In the age of electric cars, however, its dependence on the internal combustion engine would’ve antiquated the brand soon. In a masterful move, Volkswagen Group has handed over all its shares of Bugatti to its subsidiary Porsche which is another iconic sports car brand. Porsche, like most brands in the Volkswagen group, has been on its journey of electrifying its portfolio. Its investment in electric hypercar startup Rimac gave it a 24 percent stake in 2018 and a technology flow-over. But now the relationship is even closer, as Porsche has handed its control of Bugatti to Rimac and formed a joint venture called Bugatti Rimac in which it is a 45 percent stakeholder.

    Rimac is restructuring its corporate structure fully – creating a holding company called the Rimac Group which has a controlling 55 percent stake in the newly formed Bugatti Rimac. It cites Rimac Technologies as its other business and the entity cites Porsche, Hyundai as stakeholders amongst other investors. Mate Rimac, the founder and CEO of RimacAutomobilii will continue to be the CEO of the new Rimac Group with him being the leader of both Bugatti Rimac and Rimac Technologies. He also retains 37 percent of his stake in the Rimac Group. Porsche has a 24 percent stake in the Rimac Group, while Hyundai owns 12 percent in the new entity.

    Under the new structure, Porsche gets 45 percent stake in the JV and retains its 24 percent stake in the Rimac Group.

    “Bugatti and Rimac will both continue as separate respective brands, retaining existing production facilities and distribution channels,” Mate Rimac says. “Bugatti Rimac represents the company that will develop the future of both Bugatti and Rimac vehicles, by joining resources and expertise in research and development, production, and other areas,” he adds.

    Rimac and Bugatti as brands will remain separate — while Bugattis will be built to their exacting standards from their home in France while Rimac’s will be continued to made in Croatia. As of now, Rimac’s new electric hypercar, the Nevera will be sold separately from the Bugatti Chiron – but together, the JV is now home to two of the most powerful hypercars – one being based on hybrid technology with an internal combustion engine at its heart and the other one fully being propelled by batteries and electric motors.

    Rimac’s technology has attracted it to many automakers like Porsche and Hyundai which previously invested in it. Its technologies unit supplied parts and technology to some of the world’s biggest OEMs like Porsche, Aston Martin, Pininfarina, and of course Bugatti. In fact, the Rimac Nevera takes over the mantel of the world’s fastest hypercar from the Bugatti Chiron with its 1,888 bhp Nevera having the ability to achieve 0-100 km/h in less than 2 seconds.

    Rimac is also building a new headquarters in Croatia which will open in 2023 replete with its now test track and uniquely will be a fully open campus. Bugatti will most likely utilise Rimac’s technology to make a fully electric hypercar something which Mate Rimac hinted at. This will take time, though, with the new vehicle coming only by the end of the decade, so in the meanwhile, it will continue to sell its hybrid cars alongside fully electric Rimac branded vehicles.

    “This is a truly exciting moment in the short, yet rapidly expanding history of Rimac Automobili. We have gone through so much in such a short space of time, but this new venture takes things to a completely new level. Rimac and Bugatti are a perfect match in terms of what we each bring to the table. As a young, agile and fast-paced automotive and technology company, we have established ourselves as an industry pioneer in electric technologies,” Mate Rimac added.

    “We are combining Bugatti’s strong expertise in the hypercar business with Rimac’s tremendous innovative strength in the highly promising field of electromobility. Bugatti is contributing a tradition-rich brand, iconic products, a loyal customer base, and a global dealer network to the joint venture. In addition to technology, Rimac is contributing new development and organizational approaches,” said Oliver Blume, Chairman of the Executive Board at Porsche AG.

  • Tata Motors To Increase Prices Across Its Passenger Vehicle Line Soon

    Tata Motors To Increase Prices Across Its Passenger Vehicle Line Soon

    Tata Motors, the home-grown automaker, today announced its plan to increase prices across its passenger vehicle line-up. As of now, the company has not revealed the timeline or the quantum of the price hike on cars, however, Tata did mention that the increase in prices is due to the steep climb in overall input costs. Tata has said that the formal announcement about the quantum of price increase is likely to be made within the forthcoming days or weeks. We expect the new prices to come into effect from August 1, 2021.

    In its official communication, Tata Motors said, “Tata Motors, India’s leading vehicle manufacturer intends to shortly mark an appropriate increase in prices of its ‘New Forever’ range of Cars and SUVs. The steep climb in overall input costs, especially due to continuing rise in costs of essential raw material including steel and precious metals, necessitates a transfer of at least some part of this increase to end customers.”

    Interestingly enough, it was just in May 2021 that the company increased car prices in India by up to 1.8 percent. And now the carmaker has made a price hike announcement in less than 2 months. Back then Tata Motors had said that the price hike was part of Tata’s ‘Business Agility Plan’ to protect and serve the interests of its customers, dealers and suppliers. The rise in the cost of raw materials was also a contributor to the hike. This will be the brand’s third price increase this year. Before May 2021, Tata had previously increased prices in January by up to ₹ 26,000.

    Right now, Tata Motors is gearing up to launch its 2021 Dark Edition range in India, which, in addition to the Harrier, will also include the Altroz, Nexon and Nexon EV. The new Dark Edition models are expected to be launched in India as early as later this week.

  • Lamborghini’s Latest Teaser Reveals A Likely Final Version Of The Aventador

    Lamborghini’s Latest Teaser Reveals A Likely Final Version Of The Aventador

    Earlier this year, Lamborghini had confirmed revealing two new V12 models in 2021 and one of them could be the final version of the Avantador series, while the second one could be the hybrid that will be the successor to the Aventador. Well! The supercar maker has now released a new teaser on social media platforms, that shows two new Lamborghinis, and the headlight cluster easily gives away the Aventador leading in the image. It shows a shadowed pair of cars cruising along a twisty road and headlights beaming through the darkness.

    Now a spy video that surfaced online in May showed a partially camouflaged Aventador undergoing testing. The entire front end was under wraps along with the side sills, rear fenders, and upper rear intakes. At the rear, the car sported the SVJ’s exhaust and diffuser while the rest of the car looked like an Aventador S. The wraps did a good job in hiding the design changes and they remained hidden in the new teaser image as well. That said, we are just speculating both to be the same models. According to rumours, this is the Lamborghini Aventador S Jota which is destined to become the most powerful Aventador ever.

    The 6.5-litre naturally aspirated V12 is likely to churn out close to 760 bhp which is humongous but the Sian puts out 807 through its hybrid powertrain. Lamborghini is likely to make other changes to the powertrain and chassis in a bid to improve the model’s performance capabilities further. More details on that are likely to follow soon on July 7, when Lamborghini will reveal the new model.

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