Collaboration between Huawei and Dongfeng

Huawei and Dongfeng Motor began a collaboration to develop smart electric vehicles last week, adding to a string of such deals by technology giant Huawei as it accelerates its entry into the auto market. The partnership will help Voyah, an NEV subsidiary of Dongfeng, increase sales and expand its presence in the red-hot EV market where a wave of consolidation and reshuffling is underway. In November, Huawei announced plans to move automotive operations to a new joint venture with State-owned Changan Automobile. Huawei has been co-developing models with brands including Seres, BAIC, JAC and Chery.

Marque's dealerships in Thailand set to triple

The sole Thai distributor of BYD, the world's biggest electric vehicle maker, will triple its dealerships in Thailand in two years, it said, helping to cement the Chinese automaker's position in its top overseas market. BYD overtook Tesla as the world's top EV maker in the fourth quarter of 2023 and the expansion in Thailand underscores its global push — especially in markets where its US rival has yet to become a major vendor — as EV sales growth slows in its home market. Rever Automotive, the distributor that helped launch BYD in Thailand in late 2022, will add 200 dealerships by the end of 2025, expand commercial vehicles offerings and enter new passenger car segments, it said.

BEVs only 30% of market, thinks Toyota

Toyota Motor Chairman Akio Toyoda believes battery electric vehicles will reach at most 30 percent market share, with the rest taken up by hybrids, hydrogen fuel cell and fuel-burning cars. With a billion people in the world living without electricity, limiting their choices and ability to travel by making expensive cars isn't the answer, the grandson of the company's founder said during a business event this month, according to remarks published by the company on Tuesday. "Customers — not regulations or politics — should make that decision," he said. The world's No 1 carmaker has pushed back against criticism of falling behind in the transition to electric vehicles, saying that its pioneering hybrid drivetrains, hydrogen technology and holistic approach will prove to be the right approach for the business, customers and the environment.

Bite taken out of Apple's automotive ambitions

After a decadelong effort to build a car, the United States smartphone giant Apple has pivoted to a less ambitious design with the intent of finally bringing an electric vehicle to market. After once envisioning a driverless car, the company is now working on an EV with more limited features, according to people with knowledge of the project. Even so, Apple's goal for a release date continues to slip. With the latest changes, the company looks to introduce the car in 2028 at the earliest, roughly two years after a recent projection, said the people quoted by Bloomberg.

Slower sales growth ahead, says Hyundai

South Korea's Hyundai Motor on Thursday predicted slower sales growth this year due to weak demand and economic uncertainties such as interest rates and inflation, signaling challenges for the auto industry. Hyundai, which with affiliate Kia, is the world's No 3 automaker by sales, reported a 31 percent rise in fourth-quarter profit, missing analysts' forecasts. "Hyundai Motor expects the business environment will remain difficult to predict, due to macro uncertainties centered on emerging markets and a downturn in the real economy," the company said in a statement. Hyundai is targeting revenue growth of between 4 and 5 percent this year, with a 4.9 percent rise in North American vehicle sales but declines of 3.7 percent in China and 0.6 percent in Europe.