Tag: business

Nissan Magnite Achieves 2,00,000 Sales Milestone

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Nissan Motor India Pvt. Ltd. (NMIPL) today announced a significant milestone for its popular compact SUV – the Nissan Magnite, which has surpassed 2,00,000 cumulative sales across domestic and export markets since its launch in 2020. This achievement marks a significant moment in Nissan’s journey in India and underscores the Magnite’s strong resonance with customers worldwide. The Nissan Magnite has disrupted the B-SUV segment by offering an unmatched combination of bold design, safety, class-leading features, and exceptional value. Its success in both domestic and international markets highlights its universal appeal and the strength of Nissan’s ‘One Car, One World’ philosophy.

Saurabh Vatsa, Managing Director, Nissan Motor India, said: “The 200,000 global sales milestone is a proud moment for the entire Nissan Motor India family! The New Nissan Magnite continues to capture the imagination of customers around the world with its dynamic design, superior quality, value, and innovative features. We are grateful to our customers in India and across global markets for their continued trust and belief in the Magnite and love for the Nissan brand. We are fully committed to the Indian market, our customers, dealer partners and stakeholders as we work towards expanding our domestic and export product portfolio under the ‘Make in India, Make for the World’ vision.”

Nissan Motor India has also recently introduced a government-approved CNG retro-fitment kit for the New Nissan Magnite, catering to the growing customer demand fuel alternatives. Manufactured and quality assured by Motozen, the kit will be installed at government-authorised fitment centres and is priced at an additional INR 74,999. The kit is compatible with the 1.0-litre naturally aspirated petrol engine (manual transmission) variant of the New Magnite.

The New Magnite SUV’s bold and stylish design, 20+ first & best-in-segment features, and 55+ safety features make it a standout choice in the compact SUV segment. With its bold road presence, premium features, and expanding global reach, the New Nissan Magnite is now present in over 65 countries, including both the Right-Hand Drive and Left-Hand Drive markets.

Nissan Motor India continued consistent and sustainable growth in India with a consolidated sale of 99,000+ units for FY2024-25, delivering best single year performance for in the last seven years. The year was marked by the continued success of the New Nissan Magnite, which remains a key pillar for Nissan’s domestic business, selling 28,000+ units annually, and expanding export operations from 20 markets to 65+ international markets, resulting in an unprecedented export sale of 71,000+ units, making India an export hub.

New Nissan Magnite Now Available With CNG Retrofitment Kit

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The New Nissan Magnite will now be available with a government-approved CNG retrofitment kit. The CNG Kit is fully developed, manufactured and quality assured by Motozen (3rd Party) as per country Regulatory Standards. Motozen will provide warranty for kit components. This initiative reflects focus on providing customer-focused solutions. The fitment of these kits will be carried out at government-authorised fitment centres. The complete retrofitment will be available at competitive additional price of INR 74,999 only.

The rollout of this eco-friendly CNG kit fitment for the sustainability-aware and environment-conscious customer will be done in a phased manner across the country. In the first phase, Nissan customers can order the CNG kit installation via Nissan authorised dealerships in seven states, namely Delhi-NCR, Haryana, Uttar Pradesh, Maharashtra, Gujarat, Kerala and Karnataka. It will later be expanded to other states across the country as part of Phase 2.

The CNG kit option is available only with the New Nissan Magnite 1.0-litre naturally aspirated petrol engine with the manual gearbox. The customers will get enhanced fuel economy with the CNG retrofitted kit. All CNG kits will be retrofitted by government-approved vendors, offering a certified homologated kit that complies with current local regulations and safety standards.

Mr. Saurabh Vatsa, Managing Director, Nissan Motor India, commented: “The New Nissan Magnite has been a phenomenal product for us and has led the success story in India. With a view to meet the requirements of customers, Nissan Dealers will provide an alternate fuel option in the form of a government-approved CNG retrofitment kit which will be carried out at the authorised fitment centres for customers. We are confident that this move will enhance the popular compact SUV’s value proposition and practicality.”

Exciting Times Ahead For Nissan As The Company Gears Up To Launch New Products Backed By Best Single Year Performance In FY 24-25

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Nissan Motor India has announced an all-new 7-seater B-MPV (multi-purpose vehicle) to their existing line-up. The company showcased two new products slated for India at their recently concluded Global Product Showcase Event held in Yokohama, Japan. This is in line with the company’s plans for the India business to reshape its new products to meet the rising aspirations of its customers and deliver products in all high-growth segments such as the B-MPV and C-SUV segments in addition to its existing share in the B-SUV segment led by the New Nissan Magnite.

Nissan will continue to strengthen its presence in India’s rapidly growing market, enhancing domestic performance and expanding exports. Nissan’s planned product offensive has begun with the first-time global reveal of an all-new 7- seater B-MPV scheduled to launch in FY25 as a brand new addition to the India product portfolio.

This will be followed by a previously announced 5-seater C-SUV (compact sports utility vehicle) in early FY26. The company has shared two brand new teasers for Indian audiences which confirm the developments and timelines for both vehicles. Nissan Motor India remains on track to have 4 products by FY26 for Indian customers across the B/C and D-SUV segments.

The C-SUV has been designed to disrupt the segment in India. It will be feature- packed and be delivered with state-of-the-art proprietary advanced technologies. Inspired by another iconic Nissan SUV, the new C-SUV takes its design cues from the Nissan Patrol. The C-SUV will deliver true Nissan SUV DNA and deliver the same robust reliability, premium craftsmanship and technology that Nissan is renowned for globally. The C-SUV with unmistakable presence will offer a high approach and departure angle making it the perfect companion for Indian road conditions.

The Nissan 7-seater B-MPV on the other hand aims to deliver unmatched value, quality and comfort to its core customer driven by value conscious customers seeking to maximize their purchase in the segment. The Nissan B-MPV will deliver muscular styling that is unique to Nissan’s distinct design philosophy. It has been designed to ensure comfort for passengers on all rows without compromising on driving pleasure.

Building on the success of the New Nissan Magnite, Nissan is introducing a new C- SUV that will also be made in India and exported globally. This 5-seater C-SUV will be the second model from the Chennai plant to follow the ‘One Car, One World’ strategy, reinforcing Nissan’s commitment to expanding its presence in both domestic and international markets.

Nissan Motor India Pvt. Ltd. (NMIPL) continued consistent and sustainable growth in India, delivering best single year performance for FY 2024-25 in the last seven years despite multiple headwinds faced by the domestic auto industry. The year was marked by the continued success of the New Nissan Magnite, which remains a key pillar of Nissan’s domestic business plan and a vital part of the company’s global export operations. In FY 2024-25 Nissan Motor India recorded total domestic volume of 28,000+ units led by the New Nissan Magnite introduced in October 2024. This strong performance was delivered despite the rising consumer preference for alternate fuel vehicles in the B-SUV segment in India.

On the export front, the company expanded its operations from 20 markets to 65+ international markets and registered an unprecedented and historic export sales of 71,000+ units further reinforcing India’s role as a growing manufacturing and export hub for Nissan globally. This brings the consolidated sales of the company to 99,000+ units for FY 2024-25.

Nissan is setting its sights on achieving an ambitious target of 1,00,000 units in both annual domestic sales and exports from India. To support this goal, the company will locally manufacture both new products at the Alliance JV plant in Chennai. This approach ensures that every vehicle manufactured here meets global standards, catering to both domestic and international markets.

Commenting on the performance, Frank Torres, Divisional Vice President of AMIEO Region Business Transformation & President of Nissan India Operations said, “India remains a strong pillar of growth for Nissan driven by the continued success of the Nissan Magnite. The export of the new Nissan Magnite expanded to over 65 international geographies including LHD markets this year.

On the restructuring of the India business operations as a part of the global turnaround actions, he said “Nissan remains committed to the Indian market, customers, dealer partners, employees & stakeholders. Nissan & its dealer partners will continue to provide Sales & Service to customers of existing and future new models. Nissan’s stated India product offensive remains intact, including the plan to introduce 1 all-new B-MPV & 2 new C-SUVs. We will continue our plans to export vehicles to other parts of the world as per our One Car, One World plan. This restructuring is part of our efforts worldwide to become a leaner and more agile company, as part of our global turnaround actions.”

Saurabh Vatsa, Managing Director, Nissan Motor India said, “This year has been a challenging one for the auto industry. Despite this, the New Magnite has shown and has proven that it remains a strong favorite amongst the B-SUV customers. The continued expansion of our dealership network reflects our commitment to improving accessibility and customer service. As we move forward, with the recent announcement of the additions of an All-New 7-seater B-MPV and 5-seater C-SUV and we are focused on offering an exciting product portfolio and expanding our dealer network further for enhancing customer experience.”

Nissan Motor India also announced that it will increase the price of New Nissan Magnite across all trims by up to 3 per cent from 1st April 2025 onwards. This price hike will be done to offset the rising input costs and operational expenses.

The Nissan Magnite has consistently performed well in its segment. In August 2024, the Nissan Magnite crossed a cumulative sale of 150,000 units. October 2024 marked the launch of the New Nissan Magnite after which it gained an even stronger momentum and global appeal, surpassing 10,000+ bookings milestone within three
months of the launch. The New Nissan Magnite also achieved an export milestone of 50,000 units, embodying Nissan’s ‘One Car, One World’ philosophy by exporting to 65+ LHD and RHD markets.

Manufactured at the Chennai plant, the new Magnite includes 20+ Segment-first features in India and a bold new design. Strengthening its sustainability commitment, it is now fully E20 fuel compliant. The new Magnite’s success was amplified by its recent debut in Saudi Arabia as the first left-hand-drive (LHD) market.

Continental Bags Award For “Tire Manufacturer of the Year” And Recognized For Environmentally Friendly Tire Production

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Continental has been awarded “Tire Manufacturer of the Year” at this year’s Tire Technology International Awards for Innovation and Excellence. The premium tire manufacturer received a further honour for its tire plant in Lousado, Portugal, which has produced tires CO2-neutrally since last year. This makes Continental the only tire manufacturer to win two of the prestigious awards, outperforming the competition as “Tire Manufacturer of the Year” as well as in the category “Environmental Achievement of the Year – Manufacturing”. The awards were bestowed as part of the Tire Technology Expo on March 4 at the exhibition center in Hanover. They are regarded as some of the top honours in the industry.

“We are especially proud to be the only manufacturer to be honored twice at the Tire Technology Awards in an extremely competitive field,” says Edwin Goudswaard, Head of Research and Development at Continental Tires. “Both awards highlight our strong commitment to sustainable tire development and manufacturing. In such a highly competitive market, this success demonstrates our innovative prowess and our ability to actively shape the future of the industry.”

Competition in both categories was fierce. As “Tire Manufacturer of the Year,” Continental outperformed competitors from the USA, Italy, and France. This marks the fourth time Continental has received this title – most recently in 2022.
Sustainability efforts are becoming an increasingly important focus for the industry, and therefore for the awards. By naming Continental “Tire Manufacturer of the Year” for 2024, the jury of 27 independent industry experts acknowledged Continental’s ongoing achievements on the road to greater sustainability. The projects considered in their deliberations included increasing the share of sustainable materials through recycled PET bottles at further Continental plants, expanding the plant in Rayong, Thailand, according to the highest energy-efficiency standards, obtaining the international sustainability certification ISCC-PLUS for its plants in Lousado, Portugal, Puchóv, Slovakia, and Hefei, China, as well as upgrading the tire plant in Hefei with automation technology in line with state-of-the-art sustainability standards.

Continental has also repeatedly impressed the jury in award categories that specifically recognize environmentally friendly development and production measures. In 2024, for example, the company took top spot in the category “Environmental Achievement of the Year – Tire Design” with its sustainable production of the tire UltraContact NXT. This year, Continental won the prize in the “Manufacturing” category for the sustainability measures at its tire plant in Lousado, Portugal. Since 2024, the plant has been testing a CO2-neutral production process that advances the company’s ambition to achieve carbon neutrality. Thanks to a fully electric steam boiler, Continental generates the steam using both in-house produced solar power and renewable energy from the grid. Steam is needed to heat the rubber compound for the tires during the so-called vulcanization. During this process, raw rubber is turned into a flexible, elastic form. In the tire industry, a large proportion of the consumed energy is used for generating steam. Previously, the Lousado tire plant relied exclusively on natural gas for steam generation. With an annual production capacity of 18 million tires, the plant in Lousado is considered a mega plant. Continental is aiming to switch all of its tire plants to fully carbon-neutral production processes by 2040 at the latest.

The Tire Technology International Awards for Innovation and Excellence have been bestowed since 2008 as part of the Tire Technology Expo in Hanover each spring. The prizes span 13 categories honoring the latest innovations in tire technology and major advances on the road to a more sustainable tire industry. The award ceremony is coordinated by the industry magazine “Tire Technology International.”

Hyundai Motor Company President and CEO José Muñoz Holds Town Hall With Employees At Namyang R&D Center

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Hyundai Motor Company President and CEO José Muñoz held a town hall meeting with employees at the company’s Namyang R&D Center, his first such meeting since assuming the role of Hyundai Motor CEO. At the event, Muñoz underscored his commitment to direct communication with employees and that engineers share the common language of data and statistics.

Beginning the town hall, President Muñoz spoke directly about future business plans, emphasizing the importance of Hyundai Motor’s customer-centric philosophy and achieving the highest quality standards to ensure sustainable success amid the rapidly changing business environment.

“As an engineer myself, I have been looking forward to spending time with the outstanding team here at Namyang. I tend to challenge engineers, because I have high expectations for people I care about, like my family,” said President Muñoz.

President Muñoz shared his reflections on his first two months as CEO and outlined Hyundai Motor’s management strategy, future vision, and approach to overcoming key challenges. In relation to electric vehicles (EVs) and autonomous driving technology, Muñoz emphasized that Hyundai and its employees can achieve greater success together through advanced technology development and strategic partnerships.

“We will succeed by continuing to deliver beautifully designed, high-quality vehicles with technology that customers want. We must treat our customers as honored guests and provide exceptional service,” he said.

Muñoz also shared his leadership approach, offering insights from his extensive global automotive and mobility industry experience. Since joining Hyundai Motor Company in 2019, he has driven significant growth and profitability, solidifying his leadership in the global mobility industry.

Speaking at the town hall, President and CEO Muñoz said, “It’s an honor to serve our customers, employees, dealers, suppliers and other stakeholders in this new capacity. I’m excited and motivated by the tremendous opportunities for Hyundai around the world.”

Attended by more than 800 employees – including President and Head of Research and Development Division, Heui Won Yang, and Executive Vice President and Hyundai Motor Company Chief HR Officer, Hae In Kim – the hour-long session reinforced the pivotal role the Namyang R&D Center has played in Hyundai Motor’s position as a top three global mobility brand, as well as its importance in the company’s future. The Center plays a key function in leading Hyundai Motor’s differentiated product strategies tailored to the needs of local markets, as well as delivering industry-leading quality, safety and technology innovations.

Celebrating its 30th anniversary this year, the 3.47 million-square-meter facility is a comprehensive research and development hub, with world-class capabilities in software development, design and engineering, and vehicle testing and evaluation.

“Namyang, our global center for R&D, has a phenomenal track record of delivering beautifully designed, high-quality, safety-focused vehicles with technology and features that our customers value,” Muñoz commented.

“This is evidenced through Hyundai’s increasing sales, market share, profitability, and industry accolades around the world. I don’t think any brand has won more World Car of the Year Awards than Hyundai in the last few years, and we can trace this back to all the excellent work happening here in Namyang. This is where the magic happens!” he added.

Joining those at Namyang digitally, the town hall was also livestreamed globally to Hyundai Motor colleagues across the world, including at headquarters in Seoul and operations in China, Japan, the United Arab Emirates, India, and the Asia-Pacific regional offices in Indonesia and Australia.

The session included an open Q&A, encouraging direct dialogue between leadership and employees. Asked about overcoming the challenge of global EV adoption, Muñoz highlighted the company’s strategic approach:

“We continue to lead the transition to electrification. We understand that this business is based on consumer demand, which is why we continue to invest in hybrid electric vehicles, extended range electric vehicles (EREV), hydrogen fuel cell vehicles, and vehicles powered by internal combustion. More powertrain choices across our lineup are emblematic of our flexible approach.”

Muñoz took questions on other areas of Hyundai Motor’s global business, including autonomous driving technology, outlining that, “Autonomous driving has incredible potential to make driving safer by drastically reducing accidents, as well as being more convenient and efficient. We are making long-term investments with autonomous driving. Our Advanced Vehicle Platform division is doing a great job leading this internally here in Namyang.”

Closing the event, Muñoz called on all Hyundai Motor employees worldwide to continue striving for excellence, encouraging them to “Stay humble, stay hungry, work hard and always have a customer service mindset – I am here to serve you so we can serve our customers together.”

Spinny’s 2024 Trends: 76% First-Time Buyers, Renault Kwid Dominates Sales, 60% Of Women Prefer Automatic Hatchbacks

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As urban India continues to expand and public transport struggles to meet rising demand, car ownership has emerged as the go-to mobility solution for millions of Indians. The convenience, sense of freedom, and joy of owning a car have become integral to the lifestyle of young, aspirational buyers across the country.

In line with these evolving trends, Spinny, India’s leading full-stack used car platform, has released its annual report, shedding light on the key developments that have shaped the used car market throughout 2024.

A significant 76% of Spinny customers in 2024 were first-time car buyers, further solidifying the platform’s position as a top choice for new car owners. This represents a 3% increase from the previous year 73%.

The top three preferred car models saw a shift in 2024. Renault Kwid continues to be the hot favourite and Hyundai Grand i10 maintained their dominance, while Maruti Suzuki Swift entered the top three, replacing the Baleno. Hatchbacks continue to be the most preferred category across. This reflects a growing preference for compact, value-driven vehicles.

The compact SUV segment has seen a 20% growth, with models like the EcoSport continuing to reign supreme. The appeal of compact SUVs, combining space and performance with the “big car” appeal, continues to rise.

Spinny’s hub-based delivery model remains highly favoured, with 74% of deliveries made through Spinny hubs, an increase from 69% in the previous year, showcasing the importance of physical interaction and inspection in the car-buying process.

Petrol remains the dominant fuel type, accounting for 82% of Spinny’s sales. Diesel vehicles have declined to 12%, while CNG and electric vehicles (EVs) hold steady at 4% and 2%, respectively.

Women buyers now represent 26% of Spinny’s customer base, with the absolute number of women buyers growing steadily each year. Among them, 60% prefer automatic hatchbacks, while 18% prefer compact SUVs.

The average age of Spinny’s customers has dropped to 32 years from 34 last year, indicating an appeal to younger buyers who are looking for a reliable and easy car-buying experience.

The report highlights a growing trend in online car buying, with online purchases rising to 75% in 2024, up from 70% in 2023. This shift underscores the increasing convenience and preference for digital transactions in the car-buying process.

This year, 22% of customers opted for an upgrade, compared to 12% in 2023. This increase shows growing confidence in platforms like Spinny, which allows buyers to trade in their old cars and select a new one based on their changing needs. Whether it’s upgrading to a larger vehicle for family requirements or choosing a car suited to their lifestyle or city, the exchange process gives customers flexibility in finding a car that works for them.

56% of Spinny customers chose financing options to facilitate their car purchases, with 60% of these customers falling within the 25-30 age group. This indicates a growing reliance on financing, especially among younger buyers.

Spinny Max, the luxury car segment, has gained significant traction, with premium models from brands like BMW, Mercedes-Benz, and Jeep leading the charge with Jeep Compass holding the maximum share followed by BMW X1 and Mercedes C-Class. Spinny’s partnership with TataEV has also contributed to the growing interest in electric vehicles, especially the Tata Nexon, which accounts for 60% of EV sales in Bengaluru.

Spinny’s stronghold continues to be in major cities such as Bangalore, Delhi NCR, and Hyderabad, which remain the top contributors to sales.

As Spinny looks toward 2025, the company remains focused on enhancing its customer experience, with an unwavering commitment to trust, quality, and customer experience. Addressing the year-end trends, Niraj Singh, Founder & CEO of Spinny, shared, “From delivering our first car in 2015 to over 2 lakh stories by the end of 2024, it has been a humbling journey. This growth fuels our passion to continue offering the  service and experience to our customers as we move forward.’’

Nissan, Honda, And Mitsubishi Motors Sign MOU On Collaborative Considerations

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Nissan Motor Co., Ltd. (“Nissan”), Honda Motor Co., Ltd. (“Honda”), and Mitsubishi Motors Corporation (“Mitsubishi Motors”) have signed a memorandum of understanding (MOU) to explore the possibility of Mitsubishi Motors’ participation, involvement, and synergy sharing in relation to the business integration through the establishment of a joint holding company outlined in an MOU signed between Nissan and Honda.

Nissan, Honda, and Mitsubishi Motors have reached a basic agreement to proceed with discussions based on the framework established in the MOU signed by Nissan and Honda on August 1 regarding the commencement of a strategic partnership focused on intelligence and electrification. Mitsubishi Motors has been participating in this framework, and the three companies have been proceeding with discussions.

Following the agreement between Nissan and Honda to start consideration toward a business integration through the establishment of a joint holding company amid the dramatic changes in the environment surrounding both companies and the automotive industry, the three companies have agreed to explore the possibility of achieving synergies at an increased level through Mitsubishi Motors’ participation or involvement in the business integration. Mitsubishi Motors aims to reach its conclusion by the end of January 2025 on the participation or involvement in the business integration between Nissan and Honda.

Marking the announcement, Nissan Director, President, CEO and Representative Executive Officer Makoto Uchida said: “Honda and Nissan have begun considering a business integration, and will study the creation of significant synergies between the two companies in a wide range of fields. It is significant that Nissan’s partner, Mitsubishi Motors, is also involved in these discussions. We anticipate that if this integration comes to fruition, we will be able to deliver even greater value to a wider customer base.”

Honda Director and Representative Executive Officer Toshihiro Mibe said: “At this time of change in the automobile industry, which is said to occur once every 100 years, we hope that Mitsubishi Motors’ participation in the business integration discussions of Nissan and Honda will lead to further social change, and that we will be able to become a leading company in creating new value in mobility through business integration. Nissan and Honda will start the discussion from today onwards with an aim to clarify the possibility of business integration by around the end of January in line with the consideration of Mitsubishi Motors.”

Comment from Mitsubishi Motors Director, Representative Executive Officer, and President and CEO Takao Kato said: “In an era of change in the automotive industry, the study between Nissan and Honda about a business integration will accelerate synergy maximization effects, bringing high value also to the collaborative businesses with Mitsubishi Motors. In order to realize synergies and to make the best use of each company’s strengths, we will also study the best form of cooperation.”

Nissan Announces Senior Management Appointments

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Nissan Motor Co., Ltd. has announced the appointment of a new leadership team, effective January 1, 2025. Nissan is carrying out its recently announced turnaround actions, designed to restructure the company’s operations for enhanced efficiency and resilience. As part of these actions, the appointments are aimed to respond quickly to current issues, restructuring the management following the appointment of a chief performance officer (CPO) effective December 1. In April 2025, Nissan will make further changes to management to create a lean, flat structure that can respond flexibly and quickly to changes in the business environment.

Stephen Ma, currently chief financial officer (CFO), is appointed as chairperson of the Management Committee for China. He will continue to report to Makoto Uchida, chief executive officer (CEO). With extensive experience and knowledge of China, along with his global leadership background, Ma will focus on shaping the future strategy for the region and enhancing local operations.

Jeremie Papin, currently chairperson of the Management Committee for Americas, is appointed as CFO. In this role, he will report to CEO Uchida. Prior to his current role, Papin amassed many years of experience in finance, strategy, and business development within Nissan and the Alliance. Papin also worked more than 10 years in investment banking focusing on the automotive sector.

Christian Meunier joins Nissan and is appointed as chairperson of the Management Committee for Americas. He will report to Guillaume Cartier, chief performance officer (CPO). Most recently, he served as the CEO for Jeep and was a member of the Executive Committee at Stellantis. Meunier returns to Nissan with a wealth of marketing and sales experience from his previous leadership roles in Nissan US, Canada, Brazil, and global INFINITI.

Asako Hoshino, currently serving as Chief Brand & Customer Officer (CBCO) and Chairperson of the Management Committee for Japan/ASEAN, will retire from her role overseeing Japan/ASEAN operations. She will continue in her capacity as CBCO, where she will focus on enhancing brand and customer experience. Her efforts will be instrumental in ensuring that customer engagement and satisfaction strengthen Nissan’s brand presence in the market.

Shohei Yamazaki, currently serving as chairperson of the Management Committee for China, has been appointed as chairperson of the Management Committee for Japan/ASEAN. His experience in the highly competitive China market will bring valuable insights to the Japan/ASEAN role to help further strengthen Nissan’s presence in the region. In this capacity, he will report directly to CPO Cartier.

Commenting on the changes Nissan President and CEO Makoto Uchida said: “These leadership appointments will bring the necessary experience and urgency to the countermeasures we are taking to get the company back on track. With the support of our leadership team, we will carefully execute our turnaround actions to secure sustainable profits while focusing on future growth.”

Your Next Uber Could Be One Of The World’s Most Luxurious Electric Cars

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This October, Uber riders in London will have the chance to experience high-end luxury and sustainability in one ride, as a fleet of ultra-luxurious Lotus Eletre Hyper-SUVs joins the Uber Green fleet for a limited time. Riders can book these cutting-edge electric vehicles via the Uber app’s Uber Green option and experience the future of zero-emission transport.

With nearly 30% of Uber’s miles in London now fully electric, the initiative supports the city’s journey toward a cleaner, greener future. To encourage more riders to go electric, Uber has launched a special competition: the rider who saves the most emissions by the end of November by taking Uber Green trips will win free Uber Green rides for a decade.

Riders will have until November 30 to rack up their electric miles. All Uber riders can track the emissions they’ve saved by taking Uber Green using the in-app Emissions Savings tool, which launched earlier this year.

Andrew Brem, General Manager for Uber UK, said: “We’re thrilled to team up with Lotus to combine cutting-edge luxury with sustainable travel. Uber drivers are already leading the way, going electric far quicker than regular motorists – making London Uber’s global capital for electrification. Now we’re excited to allow our riders to experience one of the world’s most exciting electric cars.”

Conor Horne, Commercial Director of UK and Ireland at Lotus said: ”We are incredibly excited to partner with Uber to have a fleet of our all-electric Lotus Eletre available in London via the app for passengers to experience and enjoy. We hope this initiative will not only enhance the riding experience for Uber customers but also contribute to a greener city, something we at Lotus are very passionate about.”

Uber Green, which first launched in central London in 2021, allows riders to book a zero-emissions ride for the same price as an UberX, since its launch Uber has saved 55,000 tonnes of carbon emissions in London. Drivers taking Uber Green trips also earn 10% more on those trips compared to an UberX. Uber drivers are making the switch five times quicker than regular motorists.

The Eletre, Lotus’ first all-electric Hyper-SUV, redefines the passenger experience by combining luxurious comfort with cutting-edge technology. Passengers can enjoy a spacious interior designed for relaxation, featuring premium materials and a world-class infotainment system.

Through the combination of exceptional aerodynamics, outstanding comfort, and true Lotus performance, the Eletre is the perfect option for those seeking an exceptional drive with a new luxury experience.

The cars will be licensed and managed via Otto Cars, London’s largest private hire provider. Gurinder Dhillon, Otto Cars CEO, said: “We are delighted to power-up this concept for Uber and Lotus. Let’s prove that a sustainable ride can be a thrilling experience, without the smoke.”

Kia India Surpasses 250,000 Vehicle Exports Milestone

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Kia India has announced the achievement of a significant milestone of surpassing 250,000 vehicle exports. Since 2019, the company has shipped 255,133 units internationally to over 100 markets from its Anantapur manufacturing facility. The Seltos has been the major contributor, accounting for 59% of the company’s overall overseas dispatches. Kia’s other innovations – Sonet and Carens follow in second and third places, contributing 34% and 7%, respectively.

Kia India is one of the key export hubs for the Kia corporation. However, in recent years, the company has focused more on selling its cars in the domestic markets and is now going to make 90% of products for India from this year. At present Kia India exports to over 100 international markets from its Anantapur facility. A few of the major markets for Kia India exports include South Africa, Chile, Paraguay and Latin America. Kia’s dedication to innovation and excellence has secured its place as a global leader in the automotive industry, both in India and globally.

Mr. Myung-sik Sohn, Chief Sales Officer, Kia India said, “Our dedication to quality and innovation has driven us to this milestone. The success of our Made in India vehicles internationally shows our commitment to quality. We’ve quickly become a major market for Kia Corporation and aim to maintain this momentum. While our focus is on the domestic market, we plan to keep our exports steady this year.”

Kia’s Anantapur plant, which commenced production around five years ago, has quickly become a crucial export hub within the company’s global network. The facility’s advanced production capabilities and adherence to the highest quality standards have enabled Kia to meet the demand for RVs worldwide.