Indonesia: BYD, GAC Aion and VinFast set up EV plants Government provides tax incentives for EVs and HVs, EV battery production grows Summary Electrification policy: In 2025, value added tax, import duties, and luxury goods sales tax reduction for EVs; luxury goods sales tax reduction for HVs Electrified vehicle sales in Indonesia: 2024 BEV sales increase 2.5 times to 43,000 units VinFast, BYD and GAC Aion to build EV plants Increasing production...

Market & Tech Reports  Updated at: 2025/06/13

its 4680 battery production capacity will be approximately 7GWh annually. The company also stated that by the end of the year, the cost of Tesla batteries will be less than nickel batteries from its suppliers. In June 2024, Tesla announced that the cumulative production of 4680 batteries in all its plants had reached 50 million units. Furthermore, in September of the same year, cumulative production reached 100 million units. In February 2025, Te...

Market & Tech Reports  Updated at: 2025/06/12

(G-TEKT) G-TEKT Corporation (G-TEK)T is a Honda-affiliated stamping press products supplier in Saitama City, Saitama Prefecture. The company was established in 2011 through the merger of the former Takao Kinzoku Kogyo Co., Ltd. and the former Kikuchi Co., Ltd. Located in close proximity to Honda's plants, the company has 30 production facilities (6 in Japan and 24 overseas). G-TEKT operates in 11 countries, with sales outside Japan accounting fo...

Market & Tech Reports  Updated at: 2025/06/03

em, a type of private liquidation. This is because it became difficult to repay as planned the JPY 108.3 billion of interest-bearing debt that existed at the end of September 2018. In September 2019, the company announced a proposed business restructuring plan that included the closure of up to six plants in Japan, the United States, and Europe. All 37 financial institutions with which the company does business approved the plan and agreed to for...

Market & Tech Reports  Updated at: 2025/05/29

strength.   The company also signed a strategic partnership agreement with StarCharge at the show. Through this agreement, the companies will deepen their partnership in four areas: joint development of ultra-fast charging technology, construction of charging stations, innovation to virtual power plants, and creation of a low-carbon consumption ecosystem. The purpose of this agreement is to build a smart charging service organization across Chi...

Market & Tech Reports  Updated at: 2025/05/20

iency of 40% is achieved and fuel consumption is significantly improved. The same engine is also used in the Solio, which underwent a full model change in January 2025, and is scheduled to be adopted in various models in the future.   Utilization of biogas derived from cattle manure: 4 production plants starting in 2025 Suzuki has a plan to run new cars on biogas derived from cow dung, and is working with Asia's largest dairy, Banas Dairy, and...

Market & Tech Reports  Updated at: 2025/05/15

Thailand: Tax Incentives for PHVs, HVs, and MHVs in addition to EVs Chinese OEMs expand EV production; Changan, Chery to start up new plants Summary Thai government policies: Tax incentives for HVs, MHVs, and PHVs EV sales in Thailand slow in 2024, HV sales grow 1.5-fold Chinese OEMs: Launching HV and PHV models in addition to BEVs Chinese OEMs: BYD and GAC Aion start operation of EV plants in Thailand Thai production in 2025 is expected to incre...

Market & Tech Reports  Updated at: 2025/05/12

ee groups being GM, Toyota, and Ford. Approximately 6.44 million vehicles (in 2024) were imported (excluding imports from Canada), with GM, Hyundai, and Toyota being the top three importers. Approximately 39% of new vehicles sold in the U.S. are imported, and even vehicles produced in U.S. assembly plants use many imported parts. The majority of high-selling models are American brand pickup trucks and foreign brand SUVs, most of which are produce...

Market & Tech Reports  Updated at: 2025/05/02

d for its ageing ICE lineup plus its lack of a hybrid offering. In Europe, RNM build fell by 17k units (-3.5% YoY) with Renault’s -36k unit downturn defeating growth from the other brands, driven by YoY volume losses from model renewals as well as a few ICE cars dropping out of production at some plants, such as the Mégane in Spain (though it should continue in Turkey until 2026). Globally, the trend is expected to reverse in Q2 2025 with RNM ...

Market & Tech Reports  Updated at: 2025/04/30

y both the U.S. and China. The company said it expected operating income from its China operations to be around USD 900 million in 2024, underscoring the company's commitment to remaining a competitive global player.   Stellantis announced that it will temporarily suspend operations at some of its plants in Canada and Mexico due to additional tariffs. Layoffs are expected to take place at nine plants in North America, including some powertrain a...

Market & Tech Reports  Updated at: 2025/04/25

n, U.S., in 2017, the company had not built any new airbag related manufacturing facilities for some time in order to concentrate investment in the electronics business for products such as driver assistance systems. However, in response to increasing market demand, the company decided to build new plants from 2021 in India, Mexico, Japan, and China as described below. The main reorganizations (new construction, expansions, market withdrawals, an...

Market & Tech Reports  Updated at: 2025/04/24

siness, in which EVs developed by customers are produced under contract, and CDMS (Contracted Design & Manufacturing Service) business, in which Foxconn handles design and production.   CMS is a service in which Foxconn conducts production on behalf of its customers in areas where they do not have plants. On the other hand, CDMS is a service in which Foxconn undertakes everything from design to production in response to the increasing demand for...

Market & Tech Reports  Updated at: 2025/04/17

Japan, the U.S., and Europe. With the shift to EVs, there is no prospect of an expansion in the production of ATs for passenger cars in the future. Instead, there has been a sharp increase in the consolidation of manufacturing sites in preparation for the end of production and the refurbishment of plants to produce electric equipment (to be discussed in detail in section III. Activities of major AT suppliers and in-house OEM manufacturing). 1. A...

Market & Tech Reports  Updated at: 2025/04/15

ndai Motor Group Metaplant America (HMGMA) LLC Georgia West Point Plant 300,000 (operational in March 2025)500,000 (planned) Hyundai EV Ioniq 5 (2024-), EV Ioniq 9 (2025-);Kia, Genesis brand EVs (planned);HV models (planned) Battery(joint venture with LG Energy Solution) (Source: MarkLines - OEM Plants)   Changes in the EV market (Source: Kia Investor Day) Hyundai aims to sell 1.33 million HEVs by 2028 and 2 million EVs by 2030. The...

Market & Tech Reports  Updated at: 2025/04/07

sting approximately EUR 1.5 billion to acquire a 20% stake in Leapmotor. Leapmotor International, a joint venture with Leapmotor, will be established in May 2024. Hyundai In January 2024, Beijing Hyundai sold its Chongqing plant. Hyundai's production facilities in China have been reduced to three plants (including one that is being shut down). Correlation of capital tie-ups among major auto companies in the Chinese market (surveyed in ...

Market & Tech Reports  Updated at: 2025/04/04

development of rotary engines. The number of engine units is expected to be reduced to less than half of that of current engines, and the control software to two-thirds. On the other hand, production of the inline 4-cylinder diesel engine is planned to be discontinued. Strengthening overseas plants While China will continue to promote the development, production, and export of new energy vehicles, Thailand has stated that it will begin pro...

Market & Tech Reports  Updated at: 2025/04/01

and 1800 Nm of torque. The engine is paired with a G1800 GMT 12-speed automatic gearbox.       Ashok Leyland, the flagship company of the Hinduja Group, is India’s leading commercial vehicle manufacturer. The company, headquartered in Chennai, Tamil Nadu, has 7 commercial vehicle manufacturing plants across India.   At the Bharat Mobility Global Expo 2025, Ashok Leyland showcased its range of product portfolio, including the debut of the al...

Market & Tech Reports  Updated at: 2025/03/27

Thai government promised to provide support for the production of New Energy Vehicles (NEVs) in Thailand, including investment promotion measures and infrastructure development. Thailand is strategically advantageous for exports, including the Eastern Economic Corridor (EEC) area where GAC and BYD plants are located. The Thai government also expressed hope for BYD's plans to invest in human resource development and research and development (R&D)...

Market & Tech Reports  Updated at: 2025/03/26

duced include the iBooster 2 brake booster, ABS, and ESP. The plant will have had 220 employees by the end of 2018, with plans for an additional production line in 2021. In May 2021, Bosch reportedly invested USD 90-100 million to expand 12 production lines at the San Luis Potosi and Aguascalientes plants and two development centers focused on Industry 4.0 during 2021. Bosch had invested USD 87 million in its Mexico base in 2020. The company prod...

Market & Tech Reports  Updated at: 2025/03/21

  Flex-fuel hybrid vehicles Fiat Pulse (left) and Fastback (right) (Source: Fiat)   Stellantis plans to invest a total of BRL 32 billion in South America between 2025 and 2030. New systems based on bio-hybrid engine technology will be developed, and facilities at the Betim and Porto Real Plants in Brazil will be upgraded. In November 2024, Fiat launched Brazil's first flex-fuel hybrids, the Pulse and Fastback.   Shipments in South Ame...

Market & Tech Reports  Updated at: 2025/03/18