Thailand's state-controlled energy conglomerate PTT has announced that due to fierce competition in the EV market resulting in a price war, the group will lower its stake in the joint venture company Horizon Plus, established in 2021 with Foxconn Technology Group.
Germany's rapid post-World War II economic growth was driven by advanced industrial technology, a robust workforce, and its globally renowned luxury car brands, which dominated the high-end automotive market for decades. However, recent years have seen this dominance wane, largely due to fierce competition from Chinese electric vehicle (EV) manufacturers. German automakers are losing their competitive edge in global markets.
India's electric vehicle (EV) market is seeing contrasting trends, with passenger EV sales declining while the commercial segment grows rapidly. Recent data shows a 9 percent year-on-year drop in passenger EV sales in September 2024, marking the lowest point in 19 months.
This year's Auto Guangzhou exhibition features more than 1,000 vehicle models and 86 auto brands, with new entrants like Maextro drawing significant attention from visitors.
VinFast, a Vietnamese automaker often referred to as the "Tesla of Vietnam," reported sales of 11,000 units in October, securing its position as Vietnam's leading electric vehicle (EV) brand. Concurrently, Nhật Vượng Phạm, chairman of parent company Vingroup and Vietnam's wealthiest individual, pledged additional personal investments to bolster the company.
Auto Guangzhou 2024, opening on November 15, stands as China's final flagship auto event of the year. It previews key trends that will shape the 2025 automotive market. With 1,171 new models showcased, including 512 electric vehicles (EVs), the event highlights the surging dominance of China's local EV brands.
MiTAC Group, a prominent technology and IT solutions provider in Taiwan, has played a significant role in supporting the local Ministry of Transportation's initiatives to advance smart cities, transportation systems, and rail networks. At its 50th Anniversary TechDay on November 18, MiTAC Information Technology and MiTAC Digital Technology showcased their latest AIoT (Artificial Intelligence of Things) innovations in smart transportation.
Taiwan's largest industrial gas manufacturer, Linde LienHwa, is shifting its focus from decades of industrial hydrogen applications to the transportation sector. The company aims to lead Taiwan's hydrogen vehicle market once its dedicated hydrogen manufacturing plant in southern Taiwan becomes operational in 2025.
The European Union's trade dispute with China over electric vehicles (EVs) took a new turn when both parties showed willingness to negotiate pricing agreements, despite the EU implementing new tariffs in November.
With Donald Trump expected to take office in January, his transition team reportedly aims to kill the US$7,500 consumer tax credit for electric vehicle (EV) purchases, a central provision of the IRA. Tesla reportedly showed support, as the proposal is expected to benefit Tesla at the expense of many.
Trump's "America First" agenda will remain central in his imminent second term, with reindustrialization, trade protectionism, corporate tax cuts, and stricter immigration policies at the core. However, Trump 2.0 is expected to take a more radical approach than his first term.
US-based car rental giant Hertz and its European counterpart Sixt have both faced severe financial losses due to the rapid depreciation of electric vehicles (EVs) in their fleets. This issue emerged in mid-2023, with Sixt gradually recovering while Hertz continues to struggle.
Trade disputes between the EU and China, especially in the solar and automotive sectors, underscore the intricate nature of global trade. Chinese manufacturers have shown resilience and adaptability, often finding ways around regulatory hurdles.
With Donald Trump's return to the White House, Tesla CEO Elon Musk's vocal support during the election campaign is anticipated to provide Tesla with increased regulatory flexibility. Since the November 5 US presidential election, Tesla's market value has risen by over 39%, adding around US$70 billion to Musk's net worth.
After Donald Trump won the presidential election, the US may impose tariffs on vehicles imported from Japan or Mexico. Trump's campaign also supported Chinese automakers building factories in the US, potentially leading to the construction of BYD's plant in the country.
China's dominance in automotive electronics and electrification is pushing European, American, Japanese, and South Korean automakers to respond. European brands, in particular, are increasing investments and partnering with Chinese firms—an approach widely interpreted as "if you can't beat them, join them."
US President-elect Donald Trump's policies tend to prioritize "America First" and "Made in America," with the objective of protecting domestic industries
In a milestone achievement for Xiaomi's automotive division, the company's 100,000th SU7 electric vehicle rolled off the production line on November 13. CEO Jun Lei commemorated the occasion by sharing a photo of himself resting on the factory floor, celebrating the achievement with Xiaomi's community.
Mounting trade tensions between the European Union and China are prompting Chinese electric vehicle manufacturers to reevaluate their European production plans. Following the EU's implementation of tariffs on Chinese EVs and Beijing's subsequent directive to pause investments in certain European markets, the Stellantis-Leapmotor joint venture is exploring alternative manufacturing locations.
The ultra-luxury car brand Maextro, a joint venture between Huawei and JAC Motors, will unveil its first vehicle model at the 22nd edition of the Guangzhou International Automobile Exhibition (Auto Guangzhou) in China in November, with sales beginning in the spring of 2025.
Kia Corporation has chosen Taiwan as the first overseas location for its annual Kia EV Day on November 14, highlighting the market's significance as the fastest-growing territory among 31 countries in the Asia-Pacific (APAC) region. The decision underscores Taiwan's strategic importance in Kia's global electric vehicle (EV) strategy.
On November 12, SEIT Corporation announced it is the first electric vehicle (EV) energy management system (EMS) provider to connect with Taiwan Power Company's (Taipower) distributed renewable energy advanced management system (DREAMS). Using the Open Smart Charging Protocol (OSCP), SEIT's EMS is now integrated with Taipower's Electricity Load Management Optimizer (ELMO), designed to support community EV charging stations by balancing power demand and maintaining grid stability.
For the global automotive industry, Donald Trump's upcoming return to the White House may create greater challenges not for China's emerging automakers but for Germany's leading automotive giants: Volkswagen, Mercedes-Benz, and BMW. These three brands now find themselves in a "perfect storm," navigating pressures from multiple fronts.
With US restrictions on China's semiconductor sector affecting its intelligent vehicle development, Huawei has emerged as a crucial player in advancing the nation's autonomous driving capabilities and technological self-sufficiency. The company's extensive experience in telecom and smartphones has positioned it well for this role.
