Latest news with #NEVs
Business Upturn
2 days ago
- Automotive
- Business Upturn
KPIT Technologies partners with JSW Motors to accelerate India's new energy vehicle revolution
In a major development for India's automotive landscape, KPIT Technologies and JSW Motors have announced a strategic collaboration aimed at building a robust software and digital backbone for new energy vehicles (NEVs). The partnership is positioned to significantly enhance JSW Motors' capabilities in the electric, hybrid, and plug-in hybrid segments, with KPIT bringing in its global expertise in Software Defined Vehicles (SDVs), electric propulsion systems, and battery innovation. The collaboration also reflects KPIT's deeper strategic commitment to India's evolving mobility ecosystem. JSW Motors, the newly established automotive arm of the JSW Group, is investing $3 billion over the next five years to launch a full range of new energy vehicles. The company's first NEV is expected to debut on Indian roads in the second half of FY2026, with a 630-acre manufacturing hub currently under development in Bidkin, Maharashtra. Kishor Patil, CEO & MD of KPIT Technologies, said: 'We are proud to partner with JSW Motors in their ambitious journey to transform India's automotive landscape. Our global experience in SDV programs enables us to contribute cutting-edge technology for cleaner, smarter mobility.' Ranjan Nayak, CEO of JSW Motors, added: 'By integrating the best of global technology through KPIT, we aim to build world-class, sustainable vehicles and energize India's auto ecosystem.' As part of this partnership, KPIT will establish a dedicated Center of Excellence for JSW Motors, focusing on end-to-end software and system development tailored to NEVs. This initiative is expected to set new benchmarks in performance, sustainability, and user experience for the Indian automotive sector. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
CNBC
4 days ago
- Automotive
- CNBC
Morgan Stanley upgrades an under-the-radar China robotics play, sees big upside
Investors seeking to ride the robotics wave should consider buying Hesai Group, according to Morgan Stanley. The bank upgraded the U.S.-listed shares of the Chinese tech company to an overweight rating from equal weight. Hesai supplies LiDAR products such as sensors, which are then used in the robotics industry. Shares of Hesai have surged 54% this year. Analyst Tim Hsiao's new price target of $26 per share, up from $23, implies a further upside ahead of 22%. HSAI YTD mountain HSAI YTD chart "We raise our 2026-27 volume forecasts as Hesai continues to gain share amid growing LiDAR adoption in China," Hsiao wrote. "More overseas projects could enhance ASP/margin, while project wins from robo-players could also fuel a second revenue growth driver and lead to potential re-rating." In the Sunday note, Hsiao specified that one reason he was raising his volume forecasts was due to continuous domestic volume share gain. Hesai's volume share continued to rise among suppliers, reaching 37% in May 2025 versus 22% in May 2024. "Despite intensifying competition among Chinese EV players amid a challenging macro environment, LiDAR adoption continues to grow at an unprecedented rate, as more than 1 in 5 NEVs sold in China in May were equipped with LiDAR," Hsiao added. "With near-term headwinds — Li Auto's 2Q volume guidance cut, BYD's sluggish God's Eye model sales — largely reflected in Hesai's share price, we see further volume upside from Xiaomi, Leap Motor, as well as wallet share gain in BYD." The analyst also expects LiDAR adoption to rise as the adoption of L2+ smart driving rises overseas, with Hsiao predicting penetration to reach 15% to 20% in ex-China regions by 2030. Like the existing China market, Hsiao expects that by 2030, it could become a standard safety specification in any vehicles priced above $30,000. Another catalyst also comes in the form of a growing robotics business, he wrote. Potential products that could fit in this category include lawnmowers and humanoids. "We expect robotaxis and smart home robotic appliances to serve as Hesai's second revenue growth driver from 2026 onwards," he added. "In fact, we expect much higher ASP/margin profile from robotaxi players (given more LiDAR units per car), and a TAM of US$5bn for the humanoid/smart home robotics market."
Business Recorder
22-07-2025
- Automotive
- Business Recorder
Master Group & Chery Auto to bring super hybrids to Pakistan
Master Group of Industries, among Pakistan's most distinguished and diversified business conglomerates, continues to advance its transformative strategic partnership with Chery Automobile, China's No.1 Global Automobile Export Brand. This landmark collaboration, established in May 2025, is revolutionising Pakistan's automotive landscape through the introduction of advanced New Energy Vehicles (NEVs), particularly groundbreaking Plug-in Hybrid Electric Vehicles (PHEVs), delivering an unprecedented fusion of innovation, efficiency, and exceptional value. Established in 1963, Master Group has built a 62-year legacy of trust in manufacturing, evolving into a formidable diversified enterprise with comprehensive operations spanning foam manufacturing, textiles, energy solutions, automotive components, furniture production, and vehicle manufacturing — establishing an enduring legacy of excellence and innovation throughout Pakistan. Master Group's automotive journey began nearly 40 years ago with the founding of Procon Engineering in 1988, now Pakistan's largest auto parts manufacturer. Today, Master Group stands as Pakistan's most diversified automotive group. It is the leading manufacturer in commercial vehicles through its stronghold in Master Foton and Mitsubishi Fuso, and the No.1 bus manufacturer in the country via Master Yutong. In the passenger vehicle segment, the group has achieved remarkable success with Master Changan—Pakistan's top new entrant and ranked among the top 4 automotive brands in 2025. Chery Automobile stands as a truly global automotive giant—China's No.1 vehicle export brand for an extraordinary 22 consecutive years. With a worldwide user base of 15.72 million across over 110 countries, Chery's expansive footprint underscores its unmatched global reach. Renowned for its excellence in SUVs and commitment to innovation, Chery further cemented its international credibility through a prestigious joint venture with Jaguar Land Rover in China. Its inclusion in the 2024 Fortune Global 500 reflects Chery's growing global influence, backed by a remarkable annual revenue of $39.09 billion. To initiate this strategic partnership with Chery, Master Group has established a specialised subsidiary, Master Auto Engineering, under the visionary leadership of CEO Samir Malik. 'We are committed to substantial investment in a state-of-the-art manufacturing facility and comprehensive 3S dealership network for Chery's latest NEV lineup,' stated Malik. 'Our mission centers on delivering high-technology, fuel-efficient, and accessible mobility solutions to Pakistan, supported by unparalleled after-sales service and customer experience excellence.' This partnership represents a pivotal transformation in Pakistan's automotive industry as Master Group prepares to introduce Chery's revolutionary Super Hybrids and PHEVs, reinforcing its vision for sustainable, forward-thinking mobility solutions nationwide. Comprehensive details regarding product launches, technical specifications, and dealership locations will be unveiled in the forthcoming months. Stay connected as Master Group and Chery Automobile accelerate Pakistan's mobility future.
Zawya
21-07-2025
- Automotive
- Zawya
The future of fuel retail in South Africa: NEVs and solar panels
Even though new energy vehicles (NEVs) only make up less than 3% of South Africa's car market, local fuel station operators can still capitalise on the world's drive to embrace cleaner sources of fuel and energy. Rapid international developments, regulatory pressure, and consumer demand for greener mobility are set to reshape the fuel retail landscape. Image credit: Kindel Media on Pexels Rapid international developments, regulatory pressure, and consumer demand for greener mobility are reshaping the fuel retail landscape. The global state of NEVs The global NEV space is evolving rapidly: The European Union is working to phase out combustion engines by 2035 and is shifting focus to autonomous NEVs. China remains dominant, controlling most of the global NEV supply chain and having built battery capacity exceeding global demand by 500%. But according to the Automotive Business Council (Naamsa), South Africa is lagging for several reasons: Without access to Euro-5 and Euro-6 compliant fuels, South Africa cannot authorise or legally sell many modern vehicles. Currently, 38% of petrol and 67% of diesel are imported, but the Department of Mineral Resources and Energy has committed to making Cleaner Fuel 2 available by 1 July 2027, with indications it may arrive slightly earlier. The South African NEV market is small but growing, dominated by traditional hybrids like the Toyota Corolla Cross and Mercedes-Benz C-Class. Full battery electric vehicle (BEV) sales remain limited due to affordability, which is the biggest barrier to growth in this market: most BEVs are priced over R900,000, yet 74% of new car sales in South Africa are under R500,000. How fuel stations can benefit More affordable options are coming, with one original equipment manufacturer scheduled to launch a sub-R400,000 battery electric vehicle (BEV) this year. However, even affordable BEVs face practical challenges. Many consumers – particularly in the lower end of the market – lack solar, inverters, or batteries to charge vehicles at home. In addition, range anxiety persists, even though most BEVs offer over 200km per charge, and concerns about resale value and long-term performance deter buyers. Another issue for South African NEV sales is that existing public charging infrastructure is limited, poorly maintained, and inconveniently located: A Joburg to Cape Town EV convoy last year exposed major gaps, with vehicles stranded due to faulty charging stations. To address these challenges, Naamsa is engaging with the private sector to build a national charging network of 120 sites, providing accessible, reliable charging along key routes throughout the country. The network will leverage existing fuel stations instead of building new sites, ensuring that drivers can find a charging site within easy travelling distance, which will be public and free to access, without hidden costs. These strategic partnerships with fuel stations are preferable because of their proximity to main national routes and their existing vehicle-refuelling and alternate revenue stream infrastructures. To reduce the cost of the NEV charging infrastructure build and increase the speed of installation, these sites will initially operate largely through the national electricity grid, supported by renewable energy. Fuel stations are, in fact, ideally suited for solar PV installations because they have sizable areas of roof space over their buildings and forecourts, which are generally located in full sun. So, as increased income streams generated by the new infrastructure boost profits, fuel station owners can increase the renewable energy component of their sites to decrease their reliance on the national grid and thus boost profitability further. Fuel stations to evolve EV charging facilities certainly offer great potential for fuel retailers. It's a natural progression for them as it uses their experience and already-expanding forecourt product offerings while providing the highest potential margin. A recent study on the future of fuel stations in South Africa by commercial real estate company Cushman & Wakefield | Broll, indicates that fuel stations will evolve into 'mobility' stations within the next 5 to 15 years, offering a wider range of energy sources (electricity, natural gas, petrol, diesel, biofuels, and green hydrogen). As Fuel Connect points out, fuel forecourts offering much more than fuel is nothing new – as far back as the 1960s, fuel stations have incorporated restaurants, convenience stores, car workshops, tyre fitment centres, and even hotels, and fuel stations have always been an important midway destination on long journeys for family holidays. But because recharging an NEV takes significantly more time than filling up the fuel tank of a vehicle with an internal combustion engine, extended services such as pharmacies, laundry services, gyms, and co-working spaces will become more common at these sites. Operators will then become less reliant on income from fuel, as it will account for just 20% of the forecourt's revenue, compared with the 90% it has contributed historically. A further consideration is that, going forward, successful retailers won't just operate a single site, but instead own between five and 10. But managing multiple sites brings complexity – more employees, more systems, more human error. The only real solution? Leveraging smart technology, which prevents fraud, boosts efficiency, and further increases profitability. The future of fuel retailing lies beyond the fuel pump. As NEV adoption grows and cleaner fuels become standard, traditional forecourts will evolve. Embracing the opportunities this transition promises, together with smart technology and renewable energy, fuel station operators can future-proof their businesses and thrive in the rapidly changing mobility environment. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Times of Oman
10-07-2025
- Automotive
- Times of Oman
China's auto production rises sharply in first half of 2025
Beijing: The People's Republic of China's automobile production and sales grew by more than 10% in the first half of 2025, signalling a strong rebound in consumer spending, according to data released on Thursday by the China Association of Automobile Manufacturers (CAAM). Between January and June 2025, total vehicle production reached 15.62 million units, marking a 12.5% increase compared to the same period last year. Vehicle sales also rose by 11.4%, totaling 15.65 million units. The production of new energy vehicles (NEVs) — including electric and hybrid cars — saw particularly rapid growth, with output increasing 41.4% year-on-year to 6.97 million units. Sales of NEVs climbed 40.3%, reaching approximately 6.94 million units in the same period. These figures reflect growing demand and robust momentum in the People's Republic of China's push toward cleaner, more sustainable transportation.
