Automotive
Italian Auto Maker Lamborghini Unveils Plan For Electric Super Car
Lamborghini, an Italian maker of premium sports cars, wants to produce electric vehicles (EVs) for all of its supercar models by 2028, in line with worldwide efforts to mitigate global warming.
For many years, Automobili Lamborghini has been developing EV technology and innovations to support carbon neutrality and net-zero initiatives, according to Francesco Scardaoni, Automobili Lamborghini’s regional director for Asia-Pacific.
Carbon neutrality refers to efforts to achieve a balance between carbon dioxide emissions and absorption, whilst net-zero refers to the same aim but includes more greenhouse gases besides carbon dioxide.
“The [global] automotive industry aims to develop new technology, particularly EV technology, because electric cars are environmentally friendly and emit no CO2,” Mr Scardaoni explained.
Lamborghini will begin its transition to EVs by introducing cars in the plug-in hybrid EV sector, also known as PHEVs.
The business just debuted the Revuelto, its first PHEV-powered super sports car.
“Thailand is one of our key Southeast Asian markets.” “The new Revuelto ushers in a new era of super sports car evolution, and it also marks a significant milestone for the brand as it celebrates Lamborghini’s 60th anniversary,” added Mr Scardaoni.
Mr Scardaoni stated that Lamborghini intends to launch PHEVs for all of its automobile models for global sale by 2025.
Customers, according to the corporation, will respond positively to electric mobility technologies.
Mr Scardaoni stated that the supercar category has recovered quickly after the pandemic’s end. The Asia-Pacific area has higher automotive demand than other regions.
The United States has the highest number of Lamborghini car sales, followed by China, Japan, South Korea, Taiwan, Australia, and Thailand.
“Thailand’s demand for supercars is relatively high when compared to neighbouring countries.” “Thailand is a high-potential market,” Mr Scardaoni remarked.
Meanwhile, exporters will witness the implementation of the European Union’s (EU) Carbon Border Adjustment Mechanism (CBAM) during a transition period in around two months.
The CBAM, which businesses see as a new non-tariff barrier, aims to address global warming. The United States is also planning a similar technology to help cut carbon dioxide emissions.
Today, we’ll look at how Thai firms will be affected and whether they can avoid incurring this additional cost.
CBAM is a tax on products that emit a high level of CO2 during the production process.
According to the EU, the CBAM transitional phase, which begins on October 1, requires importers of iron and steel, aluminium, cement, fertiliser, power, and hydrogen to disclose greenhouse gas emissions incorporated in their imports without being subject to financial payments or adjustments.
Importers will be required to pay a charge for CBAM certificates beginning January 1, 2026.
According to Warawan Chitaroon, director-general of the Office of Industrial Economics (OIE), the goal of CBAM is to help the EU reduce “carbon leakage” and promote fair competition among industries with varying levels of carbon dioxide emissions.
Carbon leakage happens when enterprises established in the EU relocate carbon-intensive production to countries with less stringent climate policies, or when EU products are replaced by more carbon-intensive imports.
CBAM will hurt Thai steel and aluminum industries if they do not change their production techniques, according to Mrs Warawan.
According to the OIE, Thai steel exports to the EU totaled US$201 million last year, accounting for 0.7% of total exports to the 27-country bloc.
Thai aluminium exports totaled $111 million, accounting for 0.4% of total export value.
The EU’s CBAM, according to Nava Chantanasurakon, head of the Federation of Thai Industries’ (FTI) Iron and Steel Industry Club, will surely damage exports, particularly manufacturing industries that use fossil fuel-based energy, such as cement and steel.
He stated that these sectors are accelerating research into alternative energy sources, despite the fact that green energy investment is capital-intensive.
The FTI has previously requested financial assistance from the government in order to alleviate the financial load on the private sector.
The US Senate introduced the bill in September of last year. Mrs Warawan believes it will have a comparable impact to CBAM because it covers a wide spectrum of businesses.
The Clean Competition Act aims to address sources of carbon dioxide emissions while also making US businesses more competitive in the global market.
According to the Kasikorn Research Centre (KResearch), industries targeted by the law include petroleum production and refining, petrochemicals, fertiliser, hydrogen, adipic acid, cement, iron and steel, glass, pulp and paper, and ethanol.
Plastics, which are petrochemical products, will suffer.
According to Mrs Warawan, Thailand exported $1.2 million in plastic products to the United States last year, accounting for 2.1% of overall goods shipments.
According to KResearch, firms in these industries in the United States will be forced to pay a tax if the carbon intensity in their production processes exceeds the industry’s applicable carbon intensity baseline by 2024.
Imported goods in these industries will be subject to the same carbon tax rates as items created in the US beginning in 2026.
Thailand can avoid the effects of CBAM and the Clean Competition Act by aligning its manufacturing sector with the bio, circular, and green (BCG) economic growth strategy.
BCG, declared a national agenda item by the Prayut Chan-o-cha government, pushes firms to embrace technologies that can add value to their products while minimising environmental effect.
According to Kriengkrai Thiennukul, chairman of the FTI, if factory owners truly change their manufacturing and make it more eco-friendly, they may be able to avoid such new trade obstacles as CBAM.
In fact, he believes that non-tariff restrictions could be turned into new commercial opportunities if the country encourages more renewable energy development and BCG.
BCG, according to Mr Kriengkrai, will be a game changer for firms in the coming decade.
Many projects in the country have similar goals to BCG, but manufacturers tend to produce low-priced, commodity-grade products for export, he said. Mr Kriengkrai believes that with the state’s drive for BCG, there will be more value-added products in a variety of areas, including biodegradable plastic and biofertilizers.
According to him, the biodegradable plastic industry has the potential to expand as global businesses seek new manufacturing sites in Thailand.
Kirana Limpaphayom, chief executive of SET-listed Banpu Power, agreed with Mr Kriengkrai that the push to reduce greenhouse gas emissions might open up new economic prospects in Thailand.
He mentioned several enterprises relating to renewable energy development and better energy management.
They include technology-based companies that encourage homes and businesses to generate and consume electricity.
Mr Kirana believes that carbon credit trading might be a new source of money.
Carbon credits are the amount of CO2 emissions reduced by environmental programmes such as clean energy development. The quantity can be sold to other businesses to offset the carbon dioxide they emit into the atmosphere.
Siam Cement Group (SCG), Thailand’s largest cement manufacturer and industrial conglomerate, is mindful of the need for greater environmental stewardship and intends to achieve carbon neutrality by 2050, a balance between carbon dioxide emissions and absorption.
SCG president and CEO Roongrote Rangsiyopash previously stated that the business would focus not just on environmentally friendly petrochemical goods, but also on other green products in the packaging, cement, and building material industries.
Lamborghini Aventador Successor Could Look Like This
Automotive
Russell’s early departure leaves Lando Norris on pole at the Hungarian F1 GP.
(CTN News) – Lando Norris and his McLaren squad survived a tough qualifying session for the Hungarian Grand Prix, but they know they must perform on Sunday.
Lando Norris needed to win Budapest after Oscar Piastri locked off the top row in the field’s fastest McLaren. Recent races have been costly owing to wasted opportunities and little mistakes.
He matched Max Verstappen’s pole lap at the Hungaroring, who was unhappy to finish third. In a confident and aggressive approach, the 24-year-old finished more than three tenths ahead of the Dutchman, hitting the apexes.
Piastri followed Lando Norris by two hundredths of a second on the second hot run, demonstrating McLaren’s speed.
McLaren is doing well since Lando Norris won the Miami Grand Prix.
His potential triumphs have been cost by team and driver error, for which both parties have taken responsibility. On Sunday, he and McLaren will know they must do well.
Norris was quietly pleased with his historic first pole in Hungary and third overall. Although confident, McLaren will also be proud of their recent race progress. No one has won the pole in Budapest since Lewis Hamilton won the race and flag in 2012.
Norris and his crew recognize they must capitalize on closing gaps with 12 races left to drive Verstappen to the finish. Lando Norris understands. Behind Verstappen by 84 championship points.
“I know we missed out on some races, but we did the best we could in every one of them, and I don’t want to get back into all that stuff,” he said. I expect Oscar and Max to challenge me in the rear, not a clean weekend.
“Every location and point must be maximized; the more we can do to return to Max and Red Bull, the better.”
Hungary is a great opportunity since Lando Norris Verstappen was plainly unhappy with his car and outperformed. This disappointed him twice because the team had swiftly upgraded this race.
Verstappen had stated that the upgrades will define the second half of the season, but he admitted that he did not think they had gone far enough and could not defeat the McLarens.
“The changes are effective, but we still need more as we are not at the top,” said he. “Despite the imbalance, I liked the laps. I was pushing hard, so you had these little moments. Fast lap times are less crucial today. Simple: we need to work more because we’re moving slower. McLaren’s qualifying performance suggests a lot of ground to cover.
Lando Norris completed his best lap despite two crash-related stoppages.
Verstappen looked great in dry Q3 hot laps. He set a record with a lap time of 1 minute, 15.555 seconds and was quickest through each sector.
Lando Norris followed and pushed through the corners with fearlessness, posting a perfect 1:15.227 lap time. Piastri improved to second place on the penultimate laps while Verstappen did not, and Yuki Tsunoda’s crash halted the session.
A tardy coda didn’t matter when practice resumed because the last two minutes on old tires were worthless. McLaren has all the cards, but they must perform at the highest level to prove the legendary brand can win again.
Carlos Sainz of Ferrari was fourth and Lewis Hamilton of Mercedes fifth. George Russell, Sainz’s teammate, was unexpectedly ousted in the first round.
Sergio Pérez of Red Bull struggled again in the first qualifying round. He hit the curb, lost the rear at turn eight, and crashed, interrupting the session.
Poor performance again for the Mexican, whose Red Bull berth is in risk after a succession of poor performances, especially in qualification. His contract, recently extended to 2025, may have a performance clause, and Red Bull is unlikely to tolerate him underperforming for long. He was sixteen.
Russell fell behind because Lando Norris Mercedes didn’t fuel the car until the session ended. The British driver was eliminated in 17th place after staying out when the track dried after the break.
Charles Leclerc of Ferrari placed sixth, Fernando Alonso and Lance Stroll of Aston Martin placed seventh and eighth, Daniel Ricciardo of RB placed nine, and Tsunoda placed tenth.
Nico Hülkenberg and Kevin Magnussen of Haas finished 11 and 15, Valtteri Bottas of Sauber 12 and Alex Albon and Logan Sargeant of Williams 13 and 14. Esteban Ocon and Pierre Gasly placed ninth and twentieth for Alpine, while Guanyu Zhou placed eighth for Sauber.
SOURCE: GN
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Automotive
M5 Partially Closed as Cullompton-Exeter Crash Hospitalizes Two
(CTN News) – Two people were sent to the hospital for treatment as a result of the M5 tragic vehicle accident that happened in Devon.
The accident between two vehicles was the cause of the disaster. One more consequence of the crash is that it has left the M5 partially blocked to traffic to this day.
Between junction 28 for Cullompton and junction 29 for Exeter, the highway was blocked in both directions; however, one lane on the southbound carriageway has been opened up for previously closed traffic.
In a statement issued by the South Western Ambulance Service NHS Foundation Trust, they stated that they were notified of a traffic accident that had happened in the Exeter district at 2:29 p.m. on Friday, July 12.
M5 happened in Exeter, according to reports.
Furthermore, information was given to them by the South Western Ambulance Service.
To provide medical assistance to those injured, four land ambulances, each with two crews, an air ambulance, a critical care M5 vehicle, a doctor, an operations officer, and a responding officer were dispatched to the scene of the incident.
Furthermore, a critical care vehicle was dispatched. We also dispatched an air ambulance to the scene of the event.
Two patients were transported to their respective hospitals: one was transported by land ambulance to the Royal Devon and Exeter Hospital, while the second patient was flown there by air ambulance.
After being moved, the two patients were sent to hospitals in Devon and Exeter, respectively. Simultaneously, both patients were transferred to their respective sites at the same time.
Here’s what Devon and Somerset M5 Fire and Rescue Service said:
“We responded to the scene of a road traffic collision on the M5 at 2.30 p.m. today, between junctions 28 and 29.” The statement cited above was part of an official declaration.
A car that had been hit by another car coming from the other direction had two persons inside that had been rescued. It had been traveling in the other direction.
We offered support as the people were being taken out of the car. These people are now receiving medical assistance from the ambulance service in order to fulfill their duties.
The event caused significant delays for the M5 and the routes that pass through Exeter during the period when traffic was being redirected. In order to accommodate the traffic, this was being done.
A southbound vehicle experienced wheel failure, causing it to cross the center reserve and merge with the northbound road approaching. The car was going the wrong way, which is why this happened. The vehicle was traveling southward at that precise moment.
National Highways indicated that based on the facts they have provided, it is expected that the police would begin their investigation into the occurrence given the magnitude of the calamity that occurred. The entity that made this information public was National Highways.
The Devon and Cornwall Police Department issued the following statement:
“We know the M5 closure is causing traffic.”
The statement that was released is located beneath you. “We will get people moving safely when we can but please bear with us while we deal with the incident and causalities at the scene.”
In order to accommodate cars and other small vehicles that were traveling on the now-closed northern route towards M5 Taunton and Bristol, the back of the line has been shifted.
This was done to create space for these cars, which were heading towards Taunton and Bristol. The purpose of this activity was to provide space for larger cars. At this point, it seems like more and more vehicles are being stopped from going forward.
Due to this incident, a second lane has been opened up for use by any and all vehicles traveling southward.
SOURCE: ITV
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Honda to Cease Production at One of its Thailand Auto Factories
Car Dealers in Northern Thailand Struggling to Stay Afloat
BYD Car Buyers in Thailand Outraged Over Huge Dealer Discounts
Automotive
Honda to Cease Production at One of its Thailand Auto Factories
(CTN News) – The Japanese vehicle firm Honda Motor made the news in a statement that was posted on Tuesday. The statement stated that the company intends to center its production at the site that it operates in the province of Prachinburi.
As a consequence of this, the production of automobiles will be halted at the facility that it operates in the province of Ayutthaya in Thailand by the year 2025.
The more difficult circumstances that the second-largest car manufacturer in Japan is facing in the country of Thailand, which is located in Eastern Southeast Asia, are exemplified by this move. Thailand is located in Southeast Asia.
There are several reasons for this, including the fact that Chinese firms are determined to grow their market share in Thailand, and a growing number of consumers are expressing an interest in electric vehicles (EVs). They both play a role in contributing to the problem.
The combined output of automobiles produced by Honda’s two facilities has fallen throughout the course of the succeeding four years, going from 228,000 vehicles in 2019 to less than 150,000 vehicles annually. This downward trend has occurred during the course of the past four years.
The preceding four years have been the time period during which this decline has taken place. With regard to the sales that the company has made in Thailand throughout the course of the past four years, there has been a consistent range of less than 100,000 to less than 100,000 for the entirety of this time period.
This is according to Honda’s spokeswoman.
When the factory first opened its doors in 1996, the company anticipates that it would continue to manufacture vehicle components at that location. When the firm finishes manufacturing vehicles at the Ayutthaya facility in the next year, the spokesperson stated that the company intends to continue producing automobile components at the plant.
In accordance with the statement that was given by the spokesman, the Prachinburi factory, which was built in 2016, will be utilized for the purpose of integrating the facilities with which automobiles are created. This was said in the statement. There are only two factories in Thailand that are owned and operated by the vehicle manufacturer, and these two factories are the only ones in the country.
According to the statement made by a spokeswoman for Honda in Thailand, the company’s goal is to reduce the disparity between the number of automobiles it produces and the number of sales it has experienced in the nation.
According to the remark that was made by the spokesman for the company, the automobile manufacturer are already exporting their products from Thailand, particularly to other Southeast Asian countries such as Indonesia and the Philippines. According to a statement that was sent by a spokeswoman for the company.
Currently, Honda has no plans to invest in Thailand.
When it comes to mainland China, Honda and Nissan Motor, a Japanese automobile manufacturer that competes with Honda, have been hit particularly hard by competition from rising Chinese manufacturers.
Nissan Motor is a competitor of Honda. As a result of the fact that these businesses provide reasonably priced plug-in hybrids and electric vehicles that are loaded with software, a significant number of customers have been drawn to them.
Now, Japanese automobile manufacturers are at risk of losing clients in countries outside of China, such as those in Southeast Asia, to Chinese companies that are increasingly attempting to increase the quantity of automobiles they export and build up operations outside of China.
As a result, Honda Japanese automobile manufacturers are facing a potential loss of customers. They are exposed to this danger as a result of the fact that Japanese brands compete with Chinese brands in these locations.
BYD, a Chinese manufacturer of electric vehicles, recently launched a plant in Thailand that will be responsible for the production of automobiles that are powered by electronic batteries.
This plant was established last week. The Chinese electric car manufacturers are beginning to establish facilities in the country, and this factory is a component of the wave of investments that they are making in the country. These investments have a total value that is greater than 1.44 billion dollars together.
SOURCE |SCMP
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