#automotive

Model S

Tesla increases price of Model S, X in US after shares slump

The latest starting prices of both models are $87,490 and $97,490, respectively

Cars24

Interview: Abhinav Gupta, CEO – Gulf region at Cars24

Reports suggest that the UAE ranks eighth globally for readiness in the electric vehicles market and is expected to grow 30 per cent annually until 2028

Hyundai

Hyundai commits to $18bn spend in shift to electric cars

The group plans to boost its annual output of electric cars in Korea to 1.51 million units by end of this decade

Battery

Tesla to build new battery factory, says Elon Musk

The company will manufacture its Megapack large-scale energy-storage unit in the new facility

EV Chargers

UK set for massive rollout of EV chargers in net-zero push

England’s Surrey County Council and EV-infrastructure company Connected Kerb plan to install 10,000 chargers by 2030

RTA premium number plates auction-112

Dubai premium number plates fetch a total of Dhs38.21m

RTA offered a total of 90 premium number plates for bidding during the 112th Open Auction

Porsche Taycan Turbo. Image by Porsche

Porsche operating profit in 2022 surges $7.2bn on high revenues

The automaker said it is pushing its strategy of modern luxury in 2023 and has started its ambitious Road to 20 programme

powertrains

New powertrains may cut hybrid costs up to 30%, says Nissan

The automobile manufacturer unveiled blueprints for two new powertrains — one for its E-power hybrids and another for zero-emission vehicles

Aramco, Geely and Renault venture

Saudi Aramco plans to set up powertrain JV with Renault, Geely

Aramco will be a minority stakeholder in the venture while Geely and Renault are expected to retain equal equity stakes

Waymo

Alphabet’s Waymo cuts 8% of staff after second round of layoffs

The company confirmed its staff reduction, saying it eliminated some engineering roles and rebalanced its headcount

Tesla

Tesla’s Mexico plant to require $5bn investment

Mexican President Andres Manuel Lopez Obrador earlier said that Tesla will build the plant in Monterrey

California

Tesla to build engineering headquarters in California

The company is occupying the former headquarters of Hewlett Packard, Tesla chief executive officer Elon Musk said Wednesday

Tesla Crash

Tesla fatal crash with fire truck draws US regulator inquiry

The Contra Costa county fire department said that a Tesla struck one of its trucks that was blocking lanes while responding to an earlier accident

Tesla

Tesla recalls over 362,000 cars due to self-driving software safety concerns

The automaker is expected to fix the issue through an over-the-air software update by April 15

Ford

Ford is investing $3.5bn in EV battery plant with Chinese firm

The facility is set to open in 2026 and will produce enough batteries to power 400,000 EVs a year

Electric VEHICLE

Everything you need to know about charging an electric car

If you’re new to EVs, here’s a charging primer to get you up to speed

Toyota

Toyota sees vehicle production recovery in 2023, with some risks

The Japanese auto manufacturer made 9.7 million vehicles in 2019

Tesla

Dubai Islamic Bank launches financing solution for future Tesla owners

The fully digital financing process will make it easier for Tesla customers to apply for auto financing and improve their buying experience

BMW

BMW Group, AWS partner to develop new cloud technologies

The collaboration will focus on cloud-based infrastructure for BMW’s vehicle data processing and provision

XA Group

UAE’s XA Group rolls out blockchain-based solution to end impasse over claims recovery

Abu Dhabi National Insurance Company, Emirates Insurance Company, Yas Takaful and Oriental Insurance Company are among the first to adopt the solution in the UAE

Audi Formula 1

Audi to join Formula 1 with racing car running on synthetic fuel

Audi will build a dedicated Formula 1 power train at a facility in Neuburg, Germany

W Motors

Luxury hypercars manufacturer W Motors ventures into metaverse

W Motors is launching HyperWolves NFTs, representing the spirit animal of its cars, the Wolf

Mclaren

McLaren raises $150m from shareholders with cash low

Shareholders include Bahrain’s sovereign wealth fund Mumtalakat, investment firm Ares Management Corporation and Saudi Arabia’s Public Investment Fund

Hyundai Ioniq 6

Hyundai unveils Ioniq 6 in push to challenge Tesla

The Ioniq 6 can travel up to 610 kilometres on a single charge with its 77.4 kilowatt-hour battery

Lotus Eletre

Lotus Cars inaugurates new Dubai showroom

As part of its ongoing transformation, Lotus has also opened its new sports car manufacturing facility in Hethel, England

Audi e-tron

Audi Middle East reports best monthly sales in April this year since Dec 2016

While Audi e-tron GT has reported strong sales numbers, other models doing well include Q3, Q5, Q7 and Q8

Subaru automaker

Subaru to spend $1.9bn on battery capacity, add EV line

The automaker has started receiving orders for its Solterra model, its first all-electric SUV developed with Toyota

Stellantis

Stellantis to buy Mercedes and BMW’s car-sharing venture

The acquisition comes a little over a year after the mega-merger between Fiat Chrysler and PSA Group

insurance

Ford announces Lincoln Star electric SUV concept

The automobile manufacturer plans to introduce four new EVs into its Lincoln lineup by 2026

Getty Images - automotive - combustion engines

Trends that will shape the automotive industry in 2022

Ben Barber, MD at XA Group explains why the following trends can be a critical element in deciding your success if you work in the automotive industry