Weekly Roundup: 22nd-28th October
- Tesla surpasses $1 Trillion mark after Hertz order
- XPeng Unveils Smart EV Technologies and Mobility Ecosystem
- Orange line bus marks 1st Anniversary with 20 Million riders, 40 more buses reach Karachi for Green Line
Milestones:
Orange Line Metro Marks 1st Anniversary With A Milestone of 20 Million Riders
Orange Line Metro commemorated the completion of its first year of operations with a ceremony in Karachi. The first anniversary of Orange Line Metro Rail Train Systems (OLMRTS) marked the achievement of surpassing the 20 million passengers milestone. Read more about it here.
Auto Financing in Pakistan Reaches Record Rs 338 Billion
Auto financing in Pakistan reached an all-time high in September as the total auto loans extended by banks reached Rs338 billion. This figure represents the aggregated auto financing portfolio of banks in the country in the month of September. The reason for high auto financing was low-interest rates in the country according to the industry experts. Read more here.
Tesla Model 3 becomes Europe’s best-selling car in September
Tesla’s Model 3 has become the first electric vehicle to top monthly sales of new cars beating Renault Clio and Volkswagen Golf to claim the position. Tesla with a healthy lead over its rivals, selling 24,591 Model 3s in September compared to the 18,264 sales for the Renault Clio in the number two spot. Check out more about this here.
Tesla Shatters Trillion-Dollar Mark
Tesla has become the first automaker to be worth more than a trillion dollars (over 860 billion euros) on the stock market. The company achieved this milestone after Hertz ordered 100,000 Tesla Model 3. Tesla was the only company to increase its car production and sales by 60 to 70 percent annually and to turn a profit, despite chip shortages. Read more about it here.
Regional Cooperation:
Sindh government signs agreement with China and Turkey for Bus Project
The Sindh government has signed an agreement with Chinese and Turkish companies to run 250 buses on roads. Sindh’s Transport Minister Awais Shah attended the ceremony to sign the agreement with Ambassadors of China and Turkey. Speaking at the occasion, the Transport Minister said it is the first project of 250 intercity buses and an agreement for 150 more buses will be finalized soon. Read more here.
On Clean Fuels:
40 More Buses for Green Line Project Reached Karachi from China
The Bus Rapid Transit System (BRTS) is all set to be launched in the metropolis city as the second and final consignment of 40 buses has arrived in the city. With the total number of buses rising to 80 now, the bus project will be able to facilitate the travel of approximately 300,000 passengers daily. Check out the full story here.
Sindh Gets First Green Hydrogen Project
Pakistan’s first green hydrogen plant will be built in Sindh with a capacity to produce approximately 150,000kg of fuel per day. A memorandum of Understanding was signed by the Chief Executive Officer of UK-listed Oracle Power Public Ltd, Naheed Memon, and Chief Representative in Pakistan of Power China International for the development of the first green hydrogen project in the country. Read more.
An Electrified Future:
Alaska Air and ZeroAvia are developing a 500-mile range hydrogen-electric plane
The parent group of Alaska Airlines, Alaska Air Group has collaborated with ZeroAvia to develop a hydrogen-electric powertrain that will be implemented on a 76 passenger plane. The powertrain should boast 2,000-5,000 kW of power with a 500-mile range. The airline plans to electrify to meet its goal of achieving net-zero emissions by 2040. Read more here.
XPeng Unveils Smart EV Technologies and Mobility Ecosystem
At its annual 1024 Tech Day, XPeng Inc. has revealed a series of crucial innovations including advanced driver assistance system XPILOT 3.5 and XPILOT 4.0. The company has also shared the design of new flying car, and major supercharging technology breakthroughs and innovations. Read more here.
Panasonic unveils its Tesla 4680 battery cell, production to start next year
Japanese company Panasonic has revealed the prototype of its Tesla 4680 battery cell in an effort to fulfill Tesla’s future battery dreams. Last year, Tesla unveiled its plan to produce its own new tabless battery cell. Panasonic’s CEO, Yuki Kusumi said the company plans to start test production early next year. Read more here.
First Lucid Air Dream Electric Cars finally hit the road
Lucid Motors today has announced that the first Lucid Air electric vehicles will hit the road on Saturday, 30th October. A limited number of Dream Editions will be delivered to the customers in an invitation-only event in California followed by an “inaugural Lucid Rally”. Lucid has planned to deliver 520 customer-configured Lucid Air Dream Editions. Read more about it here.
In Other News:
VavaCars welcomes Khalil Shahab as Country Manager to further accelerate the automobile sector in Pakistan
After recent successful fundraising of $50 Million, VavaCars has become the most trusted car transaction platform in emerging markets. The company that was established in 2019 in Turkey and 2020 in Pakistan has now appointed Khalil Shahab as the Country Manager to lead investment in Pakistan. Mr. Khalil is the former Chief of Staff for a $1 Billion healthcare investment fund. Read more about it here.
Volcon announces global expansion, stock rises 20%
After meeting the demand for its off-road electric motorcycle, Volcon has now announced plans for global expansion. The Texas-based company now plans to take the show on the road by moving to Europe and Africa. The company is already preparing a functional prototype of a four-wheeled UTV to compete with other UTV makers. Read more here.
Tesla opens new R&D center in China with all engineering under one roof
Electric vehicle maker Tesla has announced the completion of its highly anticipated Research and Development (R&D) in Shanghai. The facility is located on the same site that hosts the Gigafactory Shanghai where the Model 3 sedans and Model Y crossovers are built. The R&D center will start operations in the near future. Read more here.
About Us:
This week in transport is a weekly round-up of everything happening in the transport world; from sustainable transport initiatives to expansion plans, and implementation of an intelligent transport system. Watch this space for more sector news!