Automotive Industry and Business News

Maextro to Expand Luxury Line with New SUV and MPV Models in 2026

26Nov

By E.WilsonNo Comments

Maextro to Expand Luxury Line with New SUV and MPV Models in 2026

Maextro, a luxury car brand backed by tech giant Huawei, is gearing up for an ambitious expansion into China's premium automotive market. The company plans to launch several new models next year, including both SUVs and MPVs, each available in standard and long-wheelbase versions.The upcoming Maextro SUV will target the premium segment but sit below the existing S800 sedan in terms of positioning. This move aims to cater to a broader range of luxury car buyers who are looking for something more versatile than a traditional sedan.For families seeking comfort and space, Maextro is introducing an MPV model designed specifically with family use in mind. Meanwhile, the long-wheelbase version of this MPV will focus on commercial applications, offering businesses and organizations a luxury option...

Li Auto Reports First Quarterly Loss in Three Years Amid Delivery Slump and Mega Recall

26Nov

By E.WilsonNo Comments

EV & Electric Cars, Industry & Business, News

Li Auto Reports First Quarterly Loss in Three Years Amid Delivery Slump and Mega Recall

Li Auto reported a net loss of RMB 624 million ($87.7 million) for the third quarter, marking its first quarterly loss since Q4 2022. The company's financial struggles are attributed to a significant drop in vehicle deliveries and the recall of its Li Mega MPV model.Li Auto delivered only 93,211 vehicles during the third quarter, representing a 39% decline compared to the same period last year. This sharp decrease is part of an ongoing trend that has seen sales weaken throughout this year. The company's guidance for Q4 anticipates deliveries between 100,000 and 110,000 units, still down by about 35% from a year ago.The recall of the Li Mega MPV model is another factor contributing to Li Auto’s financial woes. The company has been facing challenges in maintaining its market position as it t...

Solar Battery Rebate Faces Early Drain as Demand Surges

26Nov

By J.CarterNo Comments

Industry & Business, News

Solar Battery Rebate Faces Early Drain as Demand Surges

Origin Energy has issued a stark warning that the government's $2.3 billion rebate fund for home solar batteries could be depleted within a year due to soaring demand. Since the Cheaper Home Batteries Program launched in July, Australian households have invested in an impressive 136,000 batteries, with daily installations reaching up to 1800 units recently.The popularity of these systems has skyrocketed, leading to a more than doubling of inquiries at Origin Energy. This surge is attributed to the program's offer of a 30 percent discount on small-scale household batteries integrated with rooftop solar systems. The rebate scheme was announced in April and has already inspired a 400 percent increase in battery inquiries before its launch.Origin Energy’s electrification general manager, Chris...

GWM Aims for 300,000 Unit Plant in Europe to Compete with BYD

26Nov

By J.CarterNo Comments

EV & Electric Cars, Industry & Business, News

GWM Aims for 300,000 Unit Plant in Europe to Compete with BYD

Great Wall Motor (GWM) is making significant strides towards establishing its first full-vehicle manufacturing plant in Europe, targeting an annual output of 300,000 units by 2029. The company’s international president, Parker Shi, revealed this ambitious plan during a recent interview, highlighting the strategic importance of selecting sites in Spain and Hungary based on factors such as labor costs and logistics efficiency.GWM’s decision to consider these locations is not just about immediate cost savings but also future-proofing against potential shifts in European Union industrial policies. The company aims to balance the initial reliance on imported critical components with a long-term vision of local supply chain integration, mirroring strategies employed by older automotive giants li...

Leapmotor Expands in South America with Stellantis Support

26Nov

By E.WilsonNo Comments

EV & Electric Cars, Industry & Business, News

Leapmotor Expands in South America with Stellantis Support

Chinese electric vehicle maker Leapmotor has made its way into the South American market, setting up shop in Brazil and Chile this month. The company’s entry is backed by a partnership with Stellantis, which will help them leverage existing infrastructure and customer service networks.During the São Paulo Auto Show, Leapmotor showcased their latest models, including the C10 SUV available in both pure electric and extended-range versions, as well as the mid-size B10 SUV. They also unveiled a six-seater electric SUV called the C16, which is designed to cater to families looking for more space.Leapmotor’s plan includes establishing 36 sales and service outlets across Brazil by 2025, covering 27 cities, while Chile will see five new outlets. These expansions aim to provide a comprehensive cust...

Mahindra Expands EV Charging Network with Charge_IN Stations

26Nov

By E.WilsonNo Comments

EV & Electric Cars, Industry & Business, News

Mahindra Expands EV Charging Network with Charge_IN Stations

Mahindra is making a significant move to bolster its electric vehicle (EV) offerings in India by launching the 'Charge_IN' fast-charging network. With plans to install 250 chargers and over 1,000 charging points across the country by 2027, Mahindra aims to make long-distance travel with EVs more practical for its customers.The company's initiative includes setting up Charge_IN stations along major highway corridors, ensuring easy access to charging infrastructure. These locations are conveniently placed near cafes and restaurants, making it easier for drivers to recharge while enjoying a meal or taking a break during their journey.Mahindra is using 180 kW dual-gun chargers at each site, allowing customers to charge their EVs from 20% to 80% State of Charge (SoC) in just 20 minutes. This qu...

Opel Astra Gets a Facelift: Hatchbacks Still Have Their Place

26Nov

By S.MartinezNo Comments

Industry & Business, News

Opel Astra Gets a Facelift: Hatchbacks Still Have Their Place

Stellantis is revving up excitement with the upcoming facelift for the Opel Astra, teasing its refreshed look ahead of an official debut. The compact hatchback, which has been a stalwart in the European market since 2021, is getting a much-needed makeover to stay competitive against the ever-growing SUV segment.The teaser images reveal that the facelifted Astra will sport sharper styling with an illuminated Vizor grille, enhancing the Opel Blitz badge. This update aligns closely with recent changes seen in other Stellantis models like the Peugeot 308, ensuring a cohesive design language across the brand.Florian Huettl, CEO of Opel, promises that this refresh will delight customers with its new, more precise design highlights and innovative technologies. The front end is clearly the focus, ...

EV Drivers Face Pay-per-Mile Tax Starting £200 Annually in 2028

26Nov

By E.WilsonNo Comments

Industry & Business, News

EV Drivers Face Pay-per-Mile Tax Starting £200 Annually in 2028

Starting April 2028, electric vehicle (EV) drivers will face a new pay-per-mile tax costing an average of £200 to £300 annually. The Autumn Budget announcement by Chancellor Rachel Reeves introduces this road pricing scheme for EVs and plug-in hybrids (PHEVs), which will apply on top of existing Vehicle Excise Duty (VED).Under the new system, EV drivers will be charged three pence per mile, while PHEV owners will pay half that rate. These costs are expected to rise annually in line with inflation as measured by the Consumer Price Index.The Office for Budget Responsibility predicts this tax could raise approximately £1.4 billion per year by 2029-30. However, critics argue it might hinder EV adoption and reduce the number of electric cars on UK roads from around four percent to a lower figur...

Biofuels: A Climate Solution or a False Promise?

26Nov

By S.MartinezNo Comments

Industry & Business, News

Biofuels: A Climate Solution or a False Promise?

As the world grapples with climate change, biofuels have emerged as both a beacon of hope and a source of skepticism. At COP30 in Brazil last week, delegates discussed the potential for biofuels to decarbonize transportation energy, aiming to quadruple their use over the next decade. This ambitious goal has garnered support from countries like Brazil, Italy, Japan, and India, who see it as a pathway towards reducing carbon emissions.However, the journey of biofuels in the United States since 2005 hasn't been without controversy. The federal Energy Policy Act mandated blending ethanol with gasoline to lower exhaust emissions, but many saw this move as a subsidy for corn farmers rather than an environmental initiative. Today, similar debates are echoing across global forums about whether bio...

UK Automotive Trade Association Seeks Government Support to Boost Sector Growth

26Nov

By M.ChenNo Comments

Industry & Business, News

UK Automotive Trade Association Seeks Government Support to Boost Sector Growth

The UK automotive industry is urging Chancellor Rachel Reeves to bolster the government's Modern Industrial Strategy, aiming to restore vehicle manufacturing capacity to 1.3 million units by 2035 from a forecasted output of around 700,000 passenger cars this year.According to GlobalData, UK car production has dropped significantly since its peak in 2018 when it reached an annual total of 1.5 million vehicles. The Society of Motor Manufacturers and Traders (SMMT) is calling for an annual Autumn Budget statement that would support the sector as a hub for advanced manufacturing investment.The SMMT highlights recent government commitments, including the £2.5 billion fund to boost innovation, productivity, and inward investment in the automotive industry. Additionally, landmark trade deals with...