Tesla Inc. overtook one of Germany’s most prized premium car brands last year despite selling fewer vehicles than expected. Volkswagen AG’s Audi sold 1.67 million vehicles in 2024, down 12% from a year earlier. Its struggle with intensifying competition in Europe and China and weak demand for its electric models dropped the brand behind Elon
Toyota’s ambitious Woven City project, located at the base of Mount Fuji in Japan, is on track to welcome its first residents in the summer of 2025. The company has announced that around 100 employees, known as ‘Weavers’, will move into the city, marking the beginning of the $10 billion initiative to create a living
Lamborghini, the Italian luxury sports car manufacturer, has announced a timeline for the launch of its inaugural electric vehicle (EV), setting the year 2029 for the release. This plan marks a strategic move in the EV market for Lamborghini, which operates under the larger Volkswagen Group umbrella. In a statement made recently, CEO Stephan Winkelmann
European car sales are slowing down, forcing big car companies like Ford and Volkswagen to cut costs. Car sales in October only grew by a tiny bit, with some countries like France, Italy, and the UK seeing fewer cars sold. Even Germany, Europe’s biggest car market, didn’t see a big increase. One big reason for
Luxury car manufacturer Jaguar has unveiled a new logo and branding ahead of its relaunch as an electric-only brand. The British vehicle maker, owned by Tata Motors, will launch three new electric cars in 2026, having taken new cars off sale more than a year ago to focus on reinventing the brand. As part of
Nissan has said it will lay off thousands of workers as it slashes global production to tackle a drop in sales in China and the US. The Japanese car making giant says it will cut 9,000 jobs around the world in a cost saving effort that will see its global production reduced by a fifth.
Sales of new electric vehicles (EVs) in the United States have exceeded those in Europe for the first time, with a record-breaking 344,000 vehicles sold in Q3 2024. According to data from New AutoMotive’s Global Electric Vehicle Tracker (GEVT), this achievement occurred despite aslowdown in September, which saw over 104,000 units sold in the US
Uber Technologies will roll out an AI assistant powered by OpenAI’s technology to help drivers transition to electric vehicles, as part of its efforts to lower emissions. The ride-hailing company has advocated a shift to EVs for several years and has pledged $800 million to support its driver partners’ switching entirely to EVs by 2040.
AGMC, the official distributor for RIDDARA vehicles in the UAE, has launched the RIDDARA RD6, the brand’s first fully electric 4×4 pickup. This high-performance pickup aims to offer more options in green mobility for eco-conscious drivers. The launch follows a recent agreement between AGMC and RIDDARA, a 100% electric pickup truck brand under Geely Holding
UK-based fintech Carmoola car finance, has made a major new debt deal with banking organisation NatWest, worth £100 million. The new funding will help more people find and buy cars, and as a result of this deal, Carmoola claims it expects to deliver billions of pounds worth of loan originations over the next five years.
