Hyundai Mobility Thailand (HMT), formerly known as Hyundai Motor Thailand, has just confirmed that it will be investing over 1 billion Baht (~RM 127.2 million) to locally produce electric vehicles in Thailand. The plant, which will be operated in partnership with Thonburi Automotive Assembly, will have a capacity to produce 5,000 EVs per year, and will be supported by Thailand’s EV.35 incentives. EV3.5 incentives by Thailand’s Board of Investment The EV3.5 incentive covers EVs with a battery cap

Hans

Sep 26, 2024

Volvo Car has abandoned its target of selling 1.2 million cars by 2025, confirms CEO Jim Rowan in an interview with Automotive News Europe. “The China market has changed dramatically in the last two or three years,” said Rowan. “The new car market there has diminished because there is now a big second-hand car market, which China never really had before”. This comes after the company slashed its 2024 full-year sales growth forecast by 3 percent. Volvo had initially forecast a 15% growth in retai

Hans

Sep 26, 2024

Bridgestone has solidified its role as the exclusive tyre partner for the Lamborghini Temerario, as it roars onto the virtual racetrack in Asphalt Legends Unite, a free-to-play game by Gameloft. Every digital version of the Lamborghini Temerario in the game is equipped with Bridgestone’s high-performance Potenza Sport tyres, matching the real-world fitment, further highlighting Bridgestone’s long-term technical partnership with Lamborghini. This partnership isn't just limited to the virtual worl

Shaun

Sep 26, 2024

The High-Value Goods Tax (HVGT), originally planned for May 2024, has been placed on hold indefinitely. While the Ministry of Finance has yet to finalise details, there’s still a chance the tax could make an appearance in Budget 2025, as noted in the latest market strategy report by RHB Investment Bank. The proposal, which would impose a 5 to 10 percent tax on luxury items, has been a topic of concern, particularly in the automotive sector. Vehicles priced above RM 200,000 are expected to fall u

Shaun

Sep 26, 2024

The 2025 Toyota GR Corolla facelift has gone on sale in the US. It’s got a little bit of everything – power, upgrades, and, of course, a price hike. The base Core trim with a 6-speed manual transmission starts at USD 39,995 (around RM 165k), marking a USD 2,360 increase over the outgoing model – a 6% jump. If you’re the kind who prefers an automatic transmission, you’ll have to shell out an extra USD 2,000 for Toyota's new 8-speed automatic, bringing the total to USD 41,995 (around RM 173k). Ste

Shaun

Sep 26, 2024