DTI projects 680,000 jobs, PHP 11.4 trillion economic output under Philippines' EV Incentive Strategy Announced on June 23, 2025, the Philippines’ Department of Trade and Industry (DTI) projects that its newly approved Electric Vehicle Incentive Strategy (EVIS) could create around 680,000 jobs and attract PHP 120 billion in capital investments, generating PHP 11.4 trillion in economic output.  The strategy, awaiting approval by the Fiscal Ince...

News  Updated at: 2025/06/25

f 2025, the momentum of Chinese brands has gathered more pace as they carve out their niche in the European market.  With the introduction of the “make origin” fields in GlobalData’s Light Vehicle Sales Forecasts, we now have clearer visibility into the growth trajectory of these brands than ever before. The results from Q1 2025 reveal a remarkable 87% increase in Passenger Car sales in Europe (EU, EFTA, UK) compared to the same period in ...

News  Updated at: 2025/06/23

TMT Motors Vietnam unveils 2025–2026 strategy covering EVs and e-CV plans On June 19, 2025, TMT Motors held a media event at its Hanoi headquarters to unveil its 2025–2026 business strategy, centered on 3 key areas: trucks, electric vehicles (EVs), and a nationwide charging infrastructure. TMT will continue producing a diverse range of conventional trucks (500 kg–40 tons) while expanding into electric trucks (1–8 tons) and electric vans (...

News  Updated at: 2025/06/23

NRB Bearings, India updates about its next-gen components for EV and transmission systems In an investor update, NRB Bearings Limited, a manufacturer of needle and cylindrical roller bearings, highlighted its key product innovations aimed at expanding its presence in advanced mobility and transmission applications. The new developments include a lightweight cylindrical roller bearing (CRB) with special heat treatment for balancer shaft applicatio...

News  Updated at: 2025/06/20

Philippines’ DTI approves BOI’s EV Incentive Strategy, seeks FIRB approval in July On June 11, 2025, the Philippines’ Department of Trade and Industry (DTI) approved the Board of Investments’ draft Electric Vehicle Incentive Strategy (EVIS), which will be submitted to the Fiscal Incentives Review Board (FIRB) on June 13, with approval expected in July. Part of the Comprehensive Roadmap for the EV Industry, the EVIS aims to narrow the cost...

News  Updated at: 2025/06/13

Polestar starts sales in France On June 11, Polestar announced its official entry into the French market, marking its 28th global market across four continents. Polestar is now offering its full EV lineup for order in France, with sales conducted through the company’s website and a growing network of physical retail locations, starting with Le Mans in July and expanding to up to ten cities by year-end. Over 100 service points across the country...

News  Updated at: 2025/06/12

25 results (ending March 31) showed that 36,330 electric vehicles were delivered globally, a 296% increase YoY, surpassing total deliveries for the first half of 2024 despite the first quarter typically being a low season. Additionally, VinFast delivered 44,904 e-scooters, marking a 473% YoY rise. Revenue for Q1 2025 reached VND 16,306.4 billion (around USD 656.5 million), up 149.9% YoY. Gross profit margin improved substantially to -35.2%, a sig...

News  Updated at: 2025/06/11

rked the third straight month of growth. Sales for the first 5 months of 2025 reached 61,087 units, with market share estimated at 19.2%. The Saga led Proton’s May sales with 5,513 units, followed by the X50 (2,198 units), S70 (1,763), Persona (1,385), X70 (982), X90 (224), and Iriz (331). In the EV segment, the Proton e.MAS 7 achieved a new high with 916 units sold across domestic and international markets, its best monthly result to date, bri...

News  Updated at: 2025/06/09

Global EV battery installation Jan-Apr up 40.2%, CATL on top with 38.1% share On June 4, SNE Research announced monthly power battery data for global electric vehicles (BEV, PHEV, HEV) sold in April 2025. For January to April, the global battery installation increased 40.2% to 308.5 GWh. By national origin among top 10 suppliers, Chinese manufacturers accounted for 68.0% of sales, followed by Korean manufacturers at 17.8% and Japanese manufacture...

News  Updated at: 2025/06/05

JMEV, Zeqing EV forge partnership for battery swapping technology On May 29, Jiangxi Jiangling Group Electric Vehicle Co., Ltd. (JMEV) signed a strategic cooperation agreement with Zeqing New Energy Technology Co., Ltd. (Zeqing EV) in Hefei, Anhui. With the “development and promotion of battery-swappable models” at the core, the two companies will launch comprehensive cooperation on battery swapping technology. The two companies will co-devel...

News  Updated at: 2025/06/04

BYD confident on approval to reduce import tariff on SKD vehicles to 10% in Brazil On May 30, BYD Brazil's VP Alexandre Baldy expressed confidence in the approval of the company’s request to reduce the import tariff on SKD (semi-knocked down) vehicles to 10% for the first 12 months of operation. The Dolphin Mini EV will be the first model assembled at the Camaçari plant, potentially followed by the hybrid Song Pro. While the Brazilian automoti...

News  Updated at: 2025/06/04

GlobalData blog: Hyundai’s new hybrid – a promising step toward electrification It is anticipated that the next-generation Hyundai hybrid system will enhance performance and fuel efficiency across various segments As Hyundai Group navigates the slowdown in global Electric Vehicle (EV) demand, the company has started to refocus its efforts on its existing xEV technology — the hybrid vehicle — to drive growth. Even Genesis, the group’s lu...

News  Updated at: 2025/06/03

TAI joins forces in tripartite agreement to boost Thailand-China EV industry ties Announced on May 27, 2025, the Thailand Automotive Institute (TAI), the China Automotive Engineering Research Institute (CAERI), and C.C.I.C. (Thailand) Co., Ltd. have recently signed a tripartite Memorandum of Understanding (MoU) in Chongqing, China. The agreement aims to leverage CAERI’s technical expertise to implement new technologies and establish standardize...

News  Updated at: 2025/05/28

Danantara’s role highlighted in boosting Indonesia’s EV battery project with CATL Announced on May 22, 2025, during a limited meeting chaired by the Indonesian President, significant progress was reported on Indonesia’s cooperation with Chinese battery giant CATL, a key part of the country’s strategy to develop a comprehensive EV battery ecosystem. Danantara, as a sovereign wealth fund, was highlighted for its financial support in overcom...

News  Updated at: 2025/05/27

Honda 2025 Business update: realigning automobile electrification strategy On May 20, Honda held a press briefing on realigning its automobile electrification strategy. As for EVs, due to the revision of the product launch plan considering the recent market slowdown, the Honda global EV sales ratio in 2030 is now expected to fall below the previously announced target of 30%. Honda will position its HEVs, as the powertrain that will play a key rol...

News  Updated at: 2025/05/20

totaled 211,000 units, down 20% y/y. Production Passenger car production totaled 2.230 million units in April, up 11.2% y/y. Specifically, production of luxury brands fell 19% y/y; production of joint venture brands fell 4% y/y; and production of domestic brands grew 23% y/y. New Energy Vehicles (NEVs) In April, wholesale volumes of New Energy passenger cars totaled 1.133 million units, up 40.2% y/y. Specifically, battery electric vehicle (BEV) ...

News  Updated at: 2025/05/14

Honda operating profit down 12.2% to JPY1.2135 trillion for FY2024 On May 13, Honda Motor Co., Ltd. announced its financial results for FY2024 (April 1, 2024 through March 31, 2025). Sales revenue increased 6.2% year-on-year (y/y) to JPY 21.6888 trillion, operating profit decreased 12.2% to JPY 1.2135 trillion and profit for the year attributable to owners of the parent dropped 24.5% to JPY 835.8 billion, and operating profit margin was 5.6%. Mot...

News  Updated at: 2025/05/13

TVS Motor, India updates about its upcoming electric two-wheelers On May 5, 2025, TVS Motor Company announced that it is in the final stages of developing multiple new electric vehicle (EV) products, which are expected to launch in the coming quarters. Further expansion of the iQube range is planned to cater to varied consumer requirements. Alongside its EV initiatives, TVS also focuses on broadening its internal combustion engine (ICE) scooter p...

News  Updated at: 2025/05/12

t SUV to be based on a battery electric platform, in Shanghai. The Elexio, a Hyundai battery electric model for the Chinese market, integrates modern aesthetics, cutting-edge technologies, and high quality. As a variation of the word “electric”, the name manifests distinct characteristics of an EV. Exterior design: Adopting a minimalistic exterior design concept, the Elexio not only has a pure and tough temperament, but also presents a distin...

News  Updated at: 2025/05/12

GlobalData blog: UK CV Show 2025: Electrifying the road ahead The 2025 Commercial Vehicle Show reaffirmed its status as the UK's premier event for the road transport industry. The 2025 Commercial Vehicle Show, held at Birmingham’s NEC from April 29 to May 1, reaffirmed its status as the UK’s premier event for the road transport industry. This year’s show spotlighted the sector’s rapid evolution, focusing on decarbonisation, electrificatio...

News  Updated at: 2025/05/12