Amazon US and Hyundai have unveiled a strategic alliance
Amazon US and Hyundai have formalized a strategic partnership that will be implemented starting next year. In this collaboration, authorized dealers will have the opportunity to list Hyundai vehicles on the Amazon platform. Customers will be able to select their preferred Hyundai model, complete the purchase transaction using Amazon's platform, and then opt for either home delivery or in-person pickup at the designated dealership. This initiative aims to enhance the accessibility and convenience of purchasing Hyundai cars through a widely recognized e-commerce platform. Source
Switzerland has discontinued tax incentives for EVs
Switzerland has enacted changes in its tax policy related to electric vehicles (EVs). According to amendments in the Vehicle Duty Act, a 4% duty on vehicles for passenger or goods transport is now applicable, including revenue generated from automobile duty. Previously, electric vehicles were exempt from this duty since its inception in 1997, with the intent of fostering market incentives for electromobility development. The Swiss government, in removing this 4% credit, anticipates generating additional funds, estimated to be at least CHF 2 billion to CHF 3 billion annually. These funds are earmarked for projects aimed at improving the public transport and highway system. Source
Hyundai is investing $1.52 billion in a new EV factory, South Korea
Hyundai Motors has embarked on a substantial investment of $1.52 billion for the establishment of a new electric vehicle (EV) manufacturing facility in Ulsan, South Korea. This marks Hyundai's first South Korean factory in nearly three decades. The facility, expected to be operational by 2025, will be dedicated exclusively to the production of EVs commencing in 2026. Encompassing a 548,000 m2 site, the plant is designed with a capacity to manufacture 200,000 EVs annually. The project, set to begin full-scale construction in Q4 2023, aligns with Hyundai Motor’s commitment to innovation, emphasizing optimal working conditions for safety and efficiency. Source
Volvo's CEO rejects monetization inside cars
Volvo Cars CEO, Jim Rowan, shared insights into the company's future plans amidst the dynamic automotive landscape. Embracing a transformative journey, Volvo aims to transition to a fully electric vehicle (EV) lineup by the end of the decade. Contrary to prevailing trends among automakers, particularly in the integration of hardware and software for in-car monetization akin to smartphones, Volvo is adopting a distinct approach. CEO Jim Rowan emphasized a departure from such strategies, shedding light on the company's commitment to a people-centric philosophy, challenging industry norms and retaining essential features like Apple CarPlay. Source
Toyota aims to tap recycled Prius materials for future US EV batteries
Toyota is strategically aligning with Redwood for the recycling of battery materials, building on plans announced in June 2022. The collaboration now includes sourcing recycled materials from Redwood for battery production. Redwood, having received a $2 billion loan from the Department of Energy to expand operations, aligns with Toyota's commitment to sustainability. Toyota anticipates the growing importance of recycling as older hybrid models, like the first-generation Prius introduced over two decades ago, reach the end of their lifecycle. This initiative reflects Toyota's proactive stance in addressing the evolving landscape of electric vehicle technologies. Source