China Luxury Car News

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• February 2024: Czech motorhome rental platform Campiri announced a merger with German counterpart FreewayCamper. Both companies are backed by Czech investors Miton and Rockaway Ventures. The merger is expected to be finalized by the end of the following month. Campiri's co-founder and CEO, Lukáš Janoušek, will remain in the combined company as group co-CEO alongside FreewayCamper's co-founder, Nikolai Voitiouk. Both brands will continue to operate in their home markets for the time being.
• December 2023: Bengaluru-based Greaves Technologies, part of the Greaves Cotton Group, partnered with Italy’s Danisi Engineering. This partnership aims to target emerging large bus companies and RV manufacturers in the European market.
• August 2023: Camper van and motorhome rental agencies Yescapa and Goboony announced a merger and parallel fundraising of EUR 7 million to expand their footprint in Europe and into new international markets.

• October 2023: Syarah, the leading online used car e-commerce platform in Saudi Arabia, announced the grand opening of its car refurbishing and servicing center to sell used cars in order to meet the huge and growing demand in the market.
• January 2023: Kavak focused on technological advancements in the used car market by integrating e-commerce and physical retail experience, along with data-driven operations, making it one of the first-of-its-kind car retail experiences in Saudi Arabia.

• April 2023: At Auto Shanghai 2023, Lexus celebrated the world premiere of the all-new Lexus LM. Beginning with China's key luxury MPV market, the company announced that the second-generation LM will be launched in over 60 countries worldwide. The 6- and 7-seat versions focus on a spacious feel and excellent visibility, with expansive trim and overhead consoles throughout the cabin to create a personal feel for all passengers.
• May 2024: Volkswagen AG’s Audi and China’s SAIC Motor Corp. Ltd partnered to work on a new vehicle platform and three new pure electric models to launch in the Chinese market. The three BEV models will cover B and C segments to focus on China’s fast-growing electric vehicle market. These models are expected to be launched in 2025.

• March 2024: GN ESPACE entered the European motorhomes market. The company offers cookers, hobs, ovens, and stoves for RVs and motorhomes.
• November 2023: DER Touristik launched a new Internet Booking Engine for motorhome travel. It is called the camperboerse.com. The booking engine was developed by ISO Travel Solutions GmbH.
• September 2023: Swift announced the addition of a new model, Ascari 384, into its Ascari motorhome fleet. Ascari 384 is a three-berth model with raised fixed twin beds at the rear, or a double bed can be made with the optional Duvalay infill cushion. The new model also offers external amenities, including a BBQ point, a cold water shower point, and a 240V socket.

• May 2024: Volvo Group and Daimler Truck collaborated to digitally transform heavy-duty commercial vehicles using software-defined technology. They are establishing a joint venture to create a unified software-defined vehicle platform and a specialized truck operating system for the next generation of commercial vehicles.
• May 2024: Isuzu Motors Limited collaborated with Gatik AI Inc. in California to advance the growth of autonomous driving technology in North America. As part of the collaboration, Isuzu is making a substantial investment of USD 30 million in Gatik. This investment aims to establish a robust partnership between the two companies as they work toward developing mobility services centered on level 4 autonomous driving technology.
• April 2024: DAF Trucks launched PACCAR Connect, an advanced online fleet management platform that offers convenient access and seamless integration with existing third-party software. With every new DAF XB, XD, XF, XG, and XG+ model, 10 years of PACCAR Connect is now a standard feature.

• May 2024: Switch Mobility, a subsidiary of Ashok Leyland, announced plans to launch the electric light commercial vehicle IeV 3 in India. The IeV3 model is equipped with a lithium-ion battery with a range of about 120 km on a single charge.
• April 2024: Tresa Motors launched the V0.2, which represents a significant upgrade from its initial model. This new release features an 800V electric architecture powered by a central computing unit, advanced telemetry, and an in-house BMS (Battery Management System).
• October 2023: MAN Truck and Bus introduced its first-ever electric heavy-duty truck in Germany, consisting of the MAN eTGX for long-distance transportation and the MAN eTGS for distribution purposes.

• August 2023: BRP Inc. extended Can-Am's side-by-side lineup by introducing four new models for the 2024 model year. The new models include the Maverick X rcTurbo RR, Commander MAX X mr1000R, Commander MAX XT 700, and four-seat versions. The Maverick X3 RS Turbo has been introduced as the most affordable mid-hp 72" side-by-side in the Maverick lineup.
• August 2023: Polaris Inc. debuted its latest invention during the 2023 Summer Polaris Dealer Meeting in Nashville, Tennessee. The Polaris RANGER XD 1500 is the industry's first utility side-by-side featuring a 1500 cc 3-cylinder engine for increased power and Punch Powertrain's cutting-edge CVT technology to make difficult work simpler and last longer.
• July 2023: Polaris Off-Road introduced enhancements for 2024 to the off-road industry's most expansive portfolio. It includes the groundbreaking Polaris XPEDITION and the all-new Extreme Duty RANGER XD 1500. The 2024 collection includes a slew of rider-inspired improvements, as well as new styles and colors.
• July 2023: Honda North Carolina Manufacturing (NCM) added a new Four Trax Rancher all-terrain vehicle (ATV) to its inventory. NCM will be the only North American production source for Honda ATVs and will manufacture Honda Four Trax and TRX series ATVs.

• June 2024: Cambodia's government rejected a proposal for a blanket ban on used car imports, opting instead to focus on regulating the industry. The new strategy involves setting a cap on the age of imported vehicles and mandating annual inspections.
• March 2024: Carro intensified its efforts to go public, with a critical move being the rebranding of its subsidiary, MyTukar, in Malaysia. This comprehensive rebranding, encompassing the entire MyTukar portfolio, marketing materials, and logo, will unfold over the next few months.
• November 2023: Carro, a Singapore-based used car brand, unveiled plans to secure an investment of USD 100 million ahead of its IPO. Carro is now eyeing further funding, having already amassed a substantial USD 1 billion through a blend of debt and equity, with major backers including Softbank Corp. and GIC.

• March 2024: Honda Manufacturing Ghana Limited (HMG), a subsidiary of Honda, initiated automobile production operations at its facility in Tema, Ghana. This marks Honda's second automobile manufacturing plant in Africa, following the establishment of a plant in Nigeria. The Tema plant commenced production of the HR-V, a compact SUV, in December 2023, with an initial annual production capacity of 500 units.
• March 2023: TVS Motor Company announced the launch of new three-wheeler products in Ghana, the TVS King Series. The launch aims to expand the company’s reach and develop new avenues for growth in the African market.
• March 2023: Toyota Manufacturing Ghana Co. Limited, the vehicle assembly company of Toyota Tsusho Corporation, announced the commission of its first locally assembled Suzuki Swift in Ghana. The company also stated that they would continue the semi-knocked down (SKD) production of the Suzuki compact car in the country.
• March 2023: TVS Motor Co. is expanding and growing its export footprint and is eyeing faster growth in Africa. The company launched seven products in Ghana, comprising five motorcycles and two variants of the TVS King autorickshaw. These seven TVS products specifically are the 110 cc Neo NX, three variants of the HLX series (HLX 125, HLX 150, and HLX 150X), which recently surpassed global sales of three million units, the Apache 180, and the TVS King three-wheeler.

• March 2024: Car manufacturers made announcements suggesting investments exceeding BRL 117 billion (USD 23.48 billion) in Brazil, primarily directed toward the production of vehicles equipped with decarbonization technologies, with a particular focus on hybrid models.
• February 2024: According to representatives from the National Association of Automobile Manufacturers (Anfavea), the Brazilian automotive industry is set to receive a substantial boost, with investments totaling USD 20 billion (BRL 100 billion) anticipated by 2029.
• July 2023: In Argentina, the government announced that it anticipates the inauguration of its inaugural lithium-ion battery plant by September, utilizing locally extracted and processed lithium carbonate provided by US mining company Livent Corporation.