Industry & Business

The Industry & Business category covers the business side of the automotive world, including earnings reports, sales figures, factory investments, partnerships and regulations. Here you will find analysis of market trends, EV transition strategies, regional policies and how major brands position themselves in global competition.

Lexus IS200: A Challenger in Compact Luxury
25Nov By AGN EditorNo Comments
Industry & Business, News, Tech & Autonomous

Lexus IS200: A Challenger in Compact Luxury

Lexus launched the IS200 in 1999 to compete with BMW's 3 Series and change its image from a luxury brand known for large sedans like the LS400 to one offering sportier, smaller executive cars. The car was essentially a Toyota Altezza sold under a different name. Three versions were available: S base model, SE luxury trim, and Sport edition. Despite minor differences in features and interior design, all models shared similar mechanical components.The IS200's 2.0-litre six-cylinder engine offered engaging driving dynamics but was later upgraded to a more powerful 3.0-litre variant derived from the GS300 model. This upgrade reinforced Lexus' executive car credentials and improved performance, making it an even more competitive option in the market.Visually, designers aimed for a substantial p...
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Tesla’s Sales in China Drop to a Three-Year Low
25Nov By AGN EditorNo Comments
Industry & Business, News

Tesla’s Sales in China Drop to a Three-Year Low

Tesla saw its sales in China fall to their lowest point in three years during October, raising significant concerns about potential full-year declines. The company sold only 26,006 vehicles last month compared to previous quarters, marking the smallest number of units since Q4 2022. This downturn comes amid intense competition from Chinese EV makers like NIO and Li Auto.According to industry experts, Tesla's market share in China dropped significantly—from 8.7% in September to just 3.2% in October. Michael Dunne, CEO of Dunne Insights, commented on the situation: "Tesla is getting surrounded by a swarm of Chinese automakers... each taking some sales from the company with a target on its back." As we reported earlier this year, Xiaomi's entry into the EV market has posed another challenge f...
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Toyota Unveils Urban Cruiser and Begins bZ4X Assembly in Indonesia
25Nov By AGN EditorNo Comments
Industry & Business, News, Tech & Autonomous

Toyota Unveils Urban Cruiser and Begins bZ4X Assembly in Indonesia

In a move to strengthen its presence in the Indonesian market, Toyota has recently introduced the Urban Cruiser alongside commencing local assembly of the updated bZ4X. The launch of these two models is part of Toyota's broader strategy to cater to the unique demands of each regional market.The Urban Cruiser arrives in Indonesia with a single configuration priced at 759 million rupiah (approximately 39,500 euros). This model is imported from India and manufactured alongside Suzuki’s eVitara. Despite being offered in three variants in Europe, Toyota has opted for the middle variant which emphasizes range over other features.The Urban Cruiser is equipped with a permanent magnet synchronous motor producing 128 kW of power and 192.5 Nm of torque, supported by an LFP battery pack with a net cap...
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Ather Energy Debuts Rizta in Sri Lanka, Bolstering Global Presence
25Nov By AGN EditorNo Comments
Industry & Business, News

Ather Energy Debuts Rizta in Sri Lanka, Bolstering Global Presence

Ather Energy made its mark at the Colombo Motor Show this year by introducing the Ather Rizta to the Sri Lankan market. The launch comes on the heels of their December 2024 entry with the Ather 450X and further strengthens their international foothold.Evolution Auto Pvt. Ltd., acting as Ather's official distributor in Sri Lanka, has been instrumental in setting up 40 Experience Centres across the country to cater to customer needs. In addition to these centres, Ather has invested heavily in establishing a robust charging infrastructure with Ather Grid fast chargers spread out at key locations.The Rizta offers a comfortable and practical ride for daily commuters. Its large seat and spacious under-seat storage of 34 litres make it an attractive option for those who need extra room for essent...
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Over 850 New EV Chargers Set to Roll Out in Northern and Central California
25Nov By AGN EditorNo Comments
Guides & Maintenance, Industry & Business, News

Over 850 New EV Chargers Set to Roll Out in Northern and Central California

The push for electric vehicle (EV) infrastructure continues to gather steam, with IONNA planning over 850 new public charging stations across northern and central California. This ambitious project aims to significantly enhance the region's EV support network by the end of 2028.IONNA’s initiative received backing from several key figures in California’s government and utilities sector, including Mayor Daniel Lurie and Senator Scott Wiener. At a recent kickoff event for IONNA’s California Grand Tour, CEO Seth Cutler highlighted the importance of this expansion, particularly given the recent expiration of federal EV incentives.With nearly half of these chargers set to be installed in the Bay Area, residents will benefit from increased accessibility and convenience when driving electric. The ...
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China’s GAC Group Pioneers Mass Production of All-Solid-State EV Batteries
25Nov By AGN EditorNo Comments
EV & Electric Cars, Industry & Business, News

China’s GAC Group Pioneers Mass Production of All-Solid-State EV Batteries

GAC Group, one of China's leading automakers, has taken a significant step forward in the electric vehicle (EV) battery market by beginning mass production of all-solid-state batteries. This breakthrough marks a critical milestone as GAC becomes the first company to achieve this feat on an industrial scale. The new production line is already churning out high-capacity batteries, with plans for extensive testing and full-scale deployment coming soon.As we reported earlier, Chinese automakers are at the forefront of developing cutting-edge battery technologies that promise longer ranges and faster charging times for EVs. GAC Group's innovative dry process allows for more efficient manufacturing by combining several stages into one streamlined operation. This not only reduces production costs...
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EV Battery Overcapacity Looms as EV Demand Slows
25Nov By AGN EditorNo Comments
EV & Electric Cars, Industry & Business, News

EV Battery Overcapacity Looms as EV Demand Slows

The future of electric vehicle (EV) battery production looks increasingly uncertain as demand for these vehicles slows down. According to a recent report by AlixPartners, the global capacity for EV batteries is predicted to triple the actual demand by 2030, leading to significant overcapacity issues. This prediction follows several major automakers scaling back their ambitious plans in response to decreased sales and changing market conditions.For instance, Ford has cut its planned battery production capacity by 35 percent due to lower-than-expected EV sales in North America. The company's $5.8 billion facility in Kentucky is still under construction with SK On as a partner, but the reduced capacity signals a shift in strategy. As we reported earlier this year, the F-150 Lightning has face...
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Changan Deepal Acquires Hyundai’s Chongqing Plant for $228M
25Nov By AGN EditorNo Comments
Industry & Business, News

Changan Deepal Acquires Hyundai’s Chongqing Plant for $228M

In a significant move reshaping China’s automotive industry, EV Changan’s subsidiary, Deepal Automobile Technology Co., Ltd., has acquired the former Beijing Hyundai Motor Company plant in Chongqing. The deal involves a purchase price of around $228 million and marks an important step for domestic EV brands as they continue to expand their presence within the country.The sprawling facility originally broke ground back in 2015 with plans to produce up to 300,000 vehicles annually. However, it has been sitting idle since December 2021 following a series of unsuccessful sales attempts that saw the price drop from $517 million down to its final sale figure. Despite this, Deepal remains tight-lipped about immediate production plans for the factory but has hinted at future opportunities.Deepal's...
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Gordon Murray’s S1 LM Shatters Auction Record at $20.63 Million
25Nov By AGN EditorNo Comments
Classic Cars, Industry & Business, News, Supercars

Gordon Murray’s S1 LM Shatters Auction Record at $20.63 Million

The automotive world was stunned recently when Gordon Murray’s S1 LM hypercar shattered auction records, selling for a staggering $20.63 million in Las Vegas during the Formula One weekend. This stunning figure not only makes it the most expensive new car ever sold at auction but also highlights the significant value placed on ultra-limited production models. With just five units produced, all originally owned by one collector, the S1 LM is a true rarity that continues to draw global attention.The S1 LM first made its debut in August during Monterey Car Week, and already, it was clear this car was something special. The unveiling at RM Sotheby’s auction was met with a flurry of excitement as bidders vied for ownership of one of the five cars. What makes the S1 LM even more unique is that e...
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Upgrade Your VW Golf with Aftermarket Additions
25Nov By AGN EditorNo Comments
Industry & Business, News

Upgrade Your VW Golf with Aftermarket Additions

The Volkswagen Golf has long been a staple in hatchback markets, celebrated for its blend of practicality and performance. Since its debut in 1974 as the MK1 model, the Golf has evolved through several generations, each bringing new innovations and refinements. Today's eighth-generation Golf continues to dominate sales charts across Europe and beyond, offering a balance that’s hard to beat.For enthusiasts looking to enhance their Golf with a touch of performance flair without breaking the bank, the aftermarket scene offers plenty of options. Body kits, spoilers, and other aerodynamic parts can transform your car's appearance while also improving its handling characteristics. As we reported in our previous analysis on VW models, these upgrades not only make your Golf look more aggressive bu...
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