ALL WHEEL DRIVE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In March 2022, Hyundai, a major South Korean automotive manufacturer known for its diverse range of vehicles, and BorgWarner Inc., a global automotive supplier specializing in innovative propulsion solutions and automotive components, have entered into a supply agreement. Under this agreement, BorgWarner Inc. will provide an integrated drive module (IDM) for Hyundai's upcoming A-segment electric vehicle production.
• In February 2022, Continental AG, a leading German automotive supplier known for its wide range of innovative components and solutions for vehicles worldwide, has introduced its new Cross-Contact AX6 tires for SUVs in India. These tires are designed to enhance durability, reduce noise, and improve braking performance on wet roads.
• In February 2022, Nissan Motor Co., Ltd., a prominent Japanese automotive manufacturer known for producing a diverse range of vehicles, including cars, trucks, and electric vehicles, with a focus on innovation, technology, and sustainability, along with Nissan Motorsports International, announced that they are working on developing the Nissan Z GT500, based on the Nissan Z sports car. This new model celebrates over 50 years of passion for Nissan's sports cars.
• In November 2021, American Axle & Manufacturing Inc. is a leading American automotive supplier renowned for its driveline, drivetrain, and chassis components, delivering innovative solutions for vehicles globally has revealed its involvement in manufacturing and assembling 3-in-1 electric drive technology for REE Automotive Ltd. Full-scale production of these electric drive units is expected to commence in 2024 at American Axle & Manufacturing Inc.'s Advanced Technology and Development Center in Detroit.
• In February 2020, Chrysler is an iconic American automotive manufacturer known for producing a range of vehicles, including cars, trucks, and SUVs, with a history of innovation and design excellence. upgraded its Pacifica model to include All-Wheel Drive (AWD). With this enhancement, Chrysler joins Toyota as one of the few brands offering AWD, aiming to address the increasing popularity of SUVs.