+++ BMW is priming a futuristic 2-seat coupé in the vein of the famed i8, which may arrive as part of its incoming Neue Klasse electric car line-up. A new prototype has been spotted testing near the firm’s R&D base in Bavaria. Although heavily camouflaged, it clearly wears several key design cues from the Neue Klasse and Neue Klasse X concepts, such as the reinterpreted kidney grille. It appears to be powered by 4 in-wheel motors, given the absence of visible brake calipers. This represents a change of tack from BMW’s existing EVs, such as the i4, which have motors mounted inboard of their axles. BMW last year invested $16.1 million into Deepdrive, a motor specialist based minutes away from its R&D base in Garching, near Munich. Deepdrive claims its drive units (both in-wheel and conventional ‘central drives’) are more cost- and energy-efficient than those currently on the market, with greater torque density to boot. For reference, its range-topping RM2400 in-wheel motor puts out up to 340 hp and 2.400 Nm in a package measuring 50 centimeter in diameter and weighing 37 kg. BMW previously said its new Heart of Joy drive controller, claimed to be instrumental to the character of its its upcoming EVs, can support outputs of up to 1.360 hp. That exactly matches the combined outputs of 4 RM2400 motors. Deepdrive co-CEO Felix Pörnbacher recently told that his firm is on track to begin small-scale production of its dual-rotor motors in 2026, with “large-scale” output following in 2028. Pörnbacher added that Deepdrive expects in-wheel motors to account for 5-10% of the total motor market by 2030, implying it will prioritise production of the more conventional central drive units. This suggests the new BMW coupé will be a strictly limited prospect. It’s possible that it could arrive as the flagship in the wave of incoming Neue Klasse models. The first 2 cars (a new iX3 and an electric 3 Series) will be launched next year. BMW has yet to confirm any such plans, but there is an apparent appetite within the company to produce a hard-charging flagship sports car. It previously designed a hybrid mid-engined supercar called the i16 but stopped work on the project at the onset of the Covid pandemic in 2020. +++
+++ BMW Korea showcased its latest electric vehicles (EVs) at the Busan International Mobility Show 2024 to promote the brand to its fifth-largest global market, according to the global automotive giant’s regional office. At the event, BMW showcased 18 models, including the all-new iX2. Also among the company’s fleet were the new M4 which received a facelift for the first time in 4 years and BMW’s Vision Neue Klasse; a concept model representing the company’s future mobility goals. Mini, one of BMW’s brands, also presented its models, including the new Countryman JCW and the new Cooper E. Except for 2010, BMW has never missed the Busan auto show that first opened in 2001. The company said that participating in the show is about more than selling its cars; it is about meeting future consumers and communicating with them. BMW was the only foreign car firm that participated in this year’s Busan International Mobility Show. The BMW GROUP has invested a lot in South Korea. The BMW Driving Center on Incheon’s Yeongjong Island celebrated its 10th anniversary this month. The auto-cultural complex, inviting people to drive and experience BMW cars, is the company’s first in Asia and third in the world. Having invested 90 billion won ($65 million), the center has seen over 1.5 million visitors as of May. Over 240.000 visitors have tried the company’s cars in an experience program at the center and the company catered to their needs with 1.343 BMW and Mini vehicles. “The total distance driven by our visitors to the center now amounts to over 7.37 million kilometers”, a BMW Korea official said. BMW Group has also invested in expanding its facilities in South Korea. In April, the group’s R&D Center Korea expanded its size by relocating from inside the driving center at Yeongjong Island to Cheongna International in the same city. The company is also gearing up its Charging Next project by expanding its EV charging stations nationwide. It plans to add to the current network of 1.300 EV chargers and, by the end of this year, increase it to 2.100 chargers. The company has also invested in efforts to promote BMW to golf fans in Korea by hosting an annual LPGA tournament here. The BMW Ladies Championship kicks off in October and runs for 4 days at the Seowon Valley Country Club in Paju, Gyeonggi Province. The company hosted the event in 2019 and 2021 in Busan and 2022 in Wonju, Gangwon Province. +++
+++ Russia’s reliance on CHINA has gotten to the point where Beijing could end the war in Ukraine if it chose to, Finnish president Alexander Stubb said. His comments reflect the increasing frustration among Ukraine’s allies over what they say is China’s increasingly visible support for Russia’s war effort. They accuse Beijing of providing the Kremlin with technologies and parts for weapons and helping Moscow get around international trade restrictions. “Russia is so dependent on China right now”, Stubb said in an interview in Helsinki. “One phone call from president Xi Jinping would solve this crisis”. +++
+++ HYUNDAI said its June sales dropped 6.3 percent from a year earlier due to a slowdown in domestic sales. Hyundai sold 375.167 vehicles in June, down from 375.167 units a year earlier, the company said in a statement. Domestic sales fell 14.8 percent to 59.804 units from 70.163 during the cited period, while overseas sales slipped 4.4 percent to 291.712 units from 305.004. In the sedan category, a total of 16.513 units were sold at home, including 5.703 units of Grandeur and 5.712 units of Sonata models. A total of 19.056 SUVs were sold in the country last month. The company sold 12.104 vehicles under its independent luxury brand Genesis. For the January-June period, the company said it sold 2.06 million vehicles, down 0.9 percent from the same period in 2023. A Hyundai official said the company will launch its new Casper Electric (Inster) sub-compact SUV in the second half of the year and expand the line-up of its Ionic brand to regain momentum in electric car sales. +++
+++ The HYUNDAI MOTOR GROUP has established a complete production chain for electric vehicles (EV) in Indonesia, securing a key position for EV leadership in Southeast Asia, the automaker said. The group has completed construction of the Hyundai LG Indonesia (HLI) Green Power factory, dedicated to mass-producing EV battery cells. This facility is part of a joint venture between the carmaker and LG Energy Solution. This enables Hyundai Motor Group to produce not just EV battery cells, but assemble vehicles in the country. Earlier, Hyundai Motor and LG identified Indonesia as the ideal place for EV battery production, as the country is the world’s biggest producer of nickel, a key material for batteries. The carmaker expected the opening of the factory to boost its EV presence across Southeast Asia. Indonesia is the fourth-most-populous nation in the world and has huge economic growth potential. Hyundai’s Kona Electric will be the first EV equipped with batteries manufactured at the HLI Green Power factory. The vehicle will be assembled at Hyundai Motor Manufacturing Indonesia (HMMI). “Vehicles produced and sold in Indonesia will set a new standard for potential customers in Southeast Asia”, Hyundai Motor Group Executive chair Chung Euisun said. “The activation of the Indonesian EV industry will provide fresh economic opportunities to Southeast Asia”. The head of the carmaker also pledged to level up its mobility partnership with Indonesia in various sectors, such as hydrogen solutions and urban air mobility. Indonesian President Joko Widodo and a group of 300 government officials from both countries also attended the event to celebrate the opening of the battery cell plant and the mass-production of the Kona Electric. The Hyundai Motor Group is expected to gain an upper hand for the expansion of its EV footing there, as the company is the only carmaker that can manufacture battery cells, battery packs and EVs in the country. With the EV production chain, the company can react flexibly to the EV demand and widen its market share for eco-friendly vehicles faster than its rivals, it said. The Hyundai Motor Group plans to diversify its EV sales line-up there. The Kona Electric is the second EV that is being mass-produced at HMMI following the Ioniq 5. “We will aggressively promote sales for the Kona Electric, so the vehicle wins a title as the most representative EV in Indonesia”, an official from the carmaker said. After driving the popularization of EVs with the model in Indonesia, the automaker will launch more EVs localized for the market. This stands in line with the Indonesian government’s drive for carbon neutrality, as the country plans to produce more than 600.000 EVs by 2030. +++
+++ KIA said its June sales fell 3.9 percent last month due to fewer working days and a production plant conversion project. Kia sold 267.536 vehicles in June, down from 278.359 units a year ago, due mainly to lower domestic demand for its models, the company said in a statement. The company said domestic sales fell 13.7 percent mainly due to last month having fewer working days as well as customers waiting for the release of the improved K8 sedan model. Overseas sales dropped 1.7 percent due to a decrease in sales of small models, such as the Picanto and Rio, affected by the electrification conversion work at the company’s plant in Gwangmyeong, south of Seoul. In terms of overseas sales, Kia’s Sportage became the company’s best-selling model, with 43.105 units sold. Seltos followed with 21.824 units and the K3 came in third with 20.315 units sold. For the January-June period, the company said it sold 1.55 million vehicles, down 1.4 percent from the same period in 2023. +++
+++ SUZUKI launched a $40 million fund in India to invest in small rural businesses as the Japanese automaker aims to improve its presence in one of the world’s fastest-growing markets. Through the fund, called Next Bharat Venture, Suzuki will invest in startups related to agriculture and microfinance, the company said Thursday, adding that it will also provide training to rural entrepreneurs. While Suzuki, via Maruti Suzuki India, is the nation’s biggest automaker with a 41.6% market share, it risks losing customers due to its paltry line-up of hybrid cars and lack of any electrified options. The company already has access to around 400 million people in India via its thousands of showrooms and service centers, but Suzuki hopes the fund will help it reach an even wider audience, executive vice president Naomi Ishii said. “Our concern was how to access the remaining 1 billion and contribute to them”, Ishii said at the company’s headquarters in Hamamatsu, Shizuoka Prefecture. The move also comes as Suzuki is venturing into new areas such as biogas in India, with a plant starting operations in June. Suzuki hopes that the fund targeting small, village-based entrepreneurs will help create business opportunities among underserved areas, thus bolstering its appeal beyond its existing clientele. “It’s an investment for the long run”, he said. Ishii, previously based in India managing Toyota’s local unit, said that establishing a network of entrepreneurs in India “will be an enormous asset” for the company. The new fund will operate out of 3 offices based in Gujarat and Hyderabad and be led by Vipul Nath Jindal, a graduate of the Indian Institute of Technology in Hyderabad. The school, which has produced many engineers for Suzuki, is also the site of the Suzuki Innovation Center, which promotes interactions between the Japanese and Indian business communities. The center will now be run as part of the fund, the company said Thursday. Suzuki has been running technology and non-technology related initiatives through the center to improve its understanding of remote areas in parts of the country and find new sectors to delve into, Ishii said. New businesses may “come out of the latest venture initiative” for Suzuki, he said. It isn’t alone in courting India’s growing consumer market, especially given a slowdown in the China market. Toyota’s local subsidiary earlier this week announced a tie-up with the Indian Institute of Science in Bangalore to establish an engineering laboratory. Suzuki, which mainly makes small, compact internal combustion engine cars, has been in the automobile business in India since 1982 but is facing renewed competition from both local and foreign automakers with better hybrid and electric offerings. +++
+++ Are we ready to include crippling software problems in electric vehicles part of “the new normal?” If so, I’d think little of it. I am most surprised by VOLVO being the reason for asking the question. The Swedes had to postpone production of their flagship EX90 due to software issues. Then, after crowing about starting production, I find out the automaker’s informed buyers that their EX90’s might not be complete upon delivery, waiting for over-the-air updates to restore functionality that buyers of an €90.000 would expect to come with their vehicle. The EX30 appears to be in even more trouble, its software reminding me of the problems Volkswagen had with its ID.3. The glitches range from screens going black and steering-wheel buttons not responding to cars not charging and even emergency braking systems randomly activating, as well as bricked infotainment touchscreens, incorrect information displayed (such as time and range), profiles reverting back to factory settings and driver aids failing. Some customers are reportedly returning their cars to Volvo for full refunds. The automaker told the EX30 remains on sale, but it is pushing online shoppers to the 2025 model which wille be launched on July 8. It’s a popular model. Volvo has more than 35.000 units in Europe through the end of May, making it the third-best-selling selling EV there after the Tesla Model Y and Model 3. Every new car comes with its share of hiccups. Based on checking forums, owners seem thoroughly pleased with the EX30’s build quality. The hiccups here and in general with EVs is that their primary issues trace back to software (on top of the usual mechanical issues all vehicles face). On a forum for EX30 owners, the Recent Topics tab is peppered with threads about problems with the SUV, the Faults & Technical section contains 85 individual topics (some of which are undoubtedly duplicates or misplaced). However, even reading threads that weren’t created to discuss a problem soon turns up posts with members saying things like, “That’s great, now if Volvo would just fix….” It’s the same on a French forum for EX30 owners, the thread for talking about the ownership experience the most popular one by response, starting with a long tale of charging mishaps. The automaker delayed EX30 production to deal with software issues, same as with the EX90. It recalled every EX30 at the beginning of last month over a fault that sent the speedometer into test mode on startup, but the problem could be fixed with an OTA update, so customers didn’t need to visit dealers. Sounds like Volvo wants to fix everything on the go, without having to issue a stop-sale. Now that the problems have broken containment, we’ll see if Volvo’s programmers can catch them all before drastic action is required. +++
+++ The European Union has imposed additional tariffs on Chinese EVs imported into the zone. These are in addition to 10% tariffs that already existed. Both Nio and XPENG cooperated with the EU investigation but did not receive an individual tariff and are so subject to the 20.8% tariff levied on such companies. The initial response of both companies seems to be business as usual with no changes. However, this may change as Xpeng is investigating the possibility of producing in Europe. The tariffs which commenced today, and are slightly lower than originally expected, are meant to be a temporary measure until final tariffs are implemented in November. Nio said that it will maintain its pricing strategy in Europe and reevaluate it according to the progress of the tariff policy. Earlier this year in the first quarter 2024 earnings conference William Li, Nio’s CEO, said that Europe accounted for a relatively low proportion of overall sales for Nio and so the tariffs would have little impact on Nio’s operations in the short term. In the long term, Nio will formulate a reasonable strategy according to the adjustments of the tariff policy. Xpeng on the other hand has only promised to honour current customers waiting for deliveries and customers who have placed orders before the new tariffs came into effect, not subjecting them to any price increases. Furthermore, Xpeng is evaluating the feasibility of establishing a manufacturing base in Europe. Under the temporary tariffs, SAIC and companies that did not cooperate in the investigation will be subject to a tariff of 37.6%. BYD is subject to 17.4% and Geely 19.9% while for the other companies who cooperated with the investigation, they are subject to a 20.8% tariff on the import to the EU of all EVs. The EU intends to have a final policy ready by November. Nio’s cumulative sales in the European market in 2023 were 2.399 cars. Currently, Nio has 43 battery swapping stations and 45 supercharging piles across the region, although purchasers have access to more than 600.000 third-party chargers. Currently in Europe, Nio sells the ET7, ET5, EL6, EL7, ET5T and recently introduced the EL8. The EL8, known in China as the Nio ES8, was recently officially launched in Norway, Germany, the Netherlands, Sweden and Denmark. Xpeng officially entered the German market in March this year with the Xpeng G9 and P7. The company also sells in Scandinavia and France with plans to enter markets including Italy and the United Kingdom. Xpeng aims to achieve a 3% market share within the German new energy vehicle market by the end of this year and it has 12 local dealers with 24 retail locations within Germany. Both Nio and Xpeng are also expanding outside Europe with both recently trying to enter the UAE market. Xpeng, in addition, is expanding into Southeast Asian markets and some other Middle Eastern markets. +++