NOTCHBACK MARKET ANALYSIS

Market News

Recent Developments

• In February 2023, BMW, Bayerische Motoren Werke AG, a German multinational manufacturer of luxury vehicles and motorcycles, headquartered in Munich, Germany, launched a pilot fleet intended for global use by diverse target groups for trial and demonstration purposes. This initiative aims to provide the development team with valuable practical insights into the vehicle and the everyday application of cutting-edge hydrogen fuel cell technology.
• In September 2023, the Volkswagen Group known internationally as the Volkswagen Group, is a German multinational automotive manufacturer, headquartered in Wolfsburg, Germany, initiated the most extensive electrification initiative in the global automotive industry. The company has dedicated US$ 20 million to investments in electrification and digitalization until 2027, thus aiming to bring 50 fully electric models to the market by the year 2030.
• On July 28, 2023, General Motors Company, a U.S. based multinational automotive manufacturing corporation, headquartered in Detroit, Michigan, U.S The company is renowned for owning and manufacturing four key automobile brands: Chevrolet, GMC, Cadillac, and Buick, introduced "Hands Free, Eyes On," a consumer education program that is designed to promote confidence in the use of advanced driver assistance systems (ADAS). This initiative is part of General Motors Company’s broader commitment in ensuring the safe deployment of such technologies, including Super Cruise. By providing consumers with additional information, General Motors Company aims to address concerns and prevent confusion about the benefits of ADAS as these technologies become more prevalent, thereby fostering an informed, excited, and confident user base.

Acquisition and partnerships

Key Strategic Initiatives

• In the year 2022, BMW, Bayerische Motoren Werke AG, a German multinational manufacturer of luxury vehicles and motorcycles, headquartered in Munich, Bavaria, Germany Group, initiated a partnership with AirConsole, to integrate casual gaming into their vehicles. AirConsole is a gaming platform developed by Zurich-based startup N-Dream. It created the concept in January 2015, with around US$1.4 Mn in initial capital. Soon after, N-Dream conducted a game development competition, where developers were encouraged to create their own game on the AirConsole platform.
• In 2022 February, SAIC Motor and Volkswagen announced that they would be working together to develop a new range of electric vehicles, including notchback models. This partnership was seen as a way for both automakers to gain a foothold in the growing electric vehicle market.
• In 2022 April, Hyundai Motor Company announced that it would be investing in Canoo, an electric vehicle startup. This investment is witnessed as a way for Hyundai Motor Company to gain access to Canoo's technology and expertise in electric vehicles.