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Toyota sales slide as aggressive price cuts by BYD, Chinese EV makers take effect

Baua Electric

Toyota’s electrified vehicle lineup (RZ, RX, NX, UX300e) (Source: Toyota) Toyota sales hit in 1H 2024 with BYD’s EV price cuts Toyota’s sales are down by double-digits through the first half of 2024 in China (-10.8%), Indonesia (-10%), and Thailand (-15%). BYD also recently launched its first electric MPV in Indonesia.

BYD 52
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Nissan and Honda unite to join global software-defined EV race, play catch up with Tesla

Baua Electric

Mitsubishi’s CEO Takao Kato explained, “Collaboration with partners is essential in today’s auto industry,” with EVs and other tech rapidly developing. BYD is breaking into Japan’s seemingly impenetrable auto industry. BYD led the way, with imports surging 184% YOY, according to the Japan Automobile Importers Association.

Honda 52
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MG Motor India moots new sub-Rs 15 lakh EV MPV and SUV | Autocar Professional

Baua Electric

Sources say MG Motor is set to add two new electric vehicles based on E260 EV platform that will churn out a five-door SUV and compact MPV, which are likely to be positioned below Rs 15 lakh. This new MPV will be based on the Wuling Cloud EV, which is sold in Indonesia at the moment. It is around 4.3

India 52
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Honda to step up its game with new electric motorcycles and EVs

Teslarati

With the popularity of electric vehicles continuously rising, legacy automakers like Honda are reevaluating their place in the general auto industry. Battery electric vehicles (BEVs) are particularly making strides in the global automobile business. The e:N SUV xù concept model was unveiled at Auto Shanghai this month.

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Vinfast VF 8 dominates ASEAN NCAP Grand Prix Awards | Autocar Professional

Baua Electric

VinFast’s D-segment SUV, the VF 8, has earned five out of six top safety awards from the New Car Assessment Program for Southeast Asia (ASEAN NCAP) in Thailand on May 28, 2024. This achievement underscores VinFast’s aspiration to position itself as a safety leader in the Southeast Asian auto industry.

Asia 52
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VinFast’s EV plant in Tamil Nadu to open in first-half 2025 | Autocar Professional

Baua Electric

Meanwhile, construction on a new plant in Indonesia is also slated to commence within the next couple of months. In Indonesia, VinFast announced plans, in September 2023, to invest US$ 200 million (about Rs 1,658 crore) in an assembly plant with an annual capacity of up to 50,000 EVs.

Vietnam 52
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VinFast’s (VFS) global EV dealer network grows following new agreement in Middle East

Baua Electric

Since parent company VinGroup opened up its automotive arm in Vietnam, we’ve witnessed VinFast continue to expand to new markets, including Indonesia, the US, Canada, Europe, and most recently, India – all while unveiling more all-electric models like the VF 3 compact SUV and an electric pickup concept called the Wild.

Dealers 52