Automobile & mobility

Despite attempts at revival with a 51 million dollar injection (1), the automobile market has taken a major hit (2), partly due to the overall economic state and partly to the novel coronavirus outbreak (3). Simply put, the general population currently does not count buying a new car within the context of “essential purchases” (4). On the other hand, rentals, ride services, and electric vehicles have seen growth with launches in the US (5) and Malaysia (6), expansions in India (7), Indonesia (8), and Myanmar (9), and even branching into other sectors (10). That being said, as in any market, nothing is guaranteed, and not every unicorn gets to keep their horn (11).

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References

1. Chinese automaker BYD plans to inject $51m into BYD-Daimler EV JV

2. Nissan Slashes Profit Guidance By 43% As Auto Industry Plunges Deeper Into Recessionary Abyss

3. China’s Auto Slump Goes Viral In Record January Plunge

4. With Half Of China Locked Up, Car Sales Plunge 92%

5. China’s NIU starts selling its electric mopeds in the US

6. Lalamove launches large-scale deliveries in Klang

7. Lalamove chalks out plans to expand in India

8. Indonesia's Kargo Technologies bags investment from Coca Cola's VC arm Amatil X

9. Yoma Fleet expands into Myanmar’s logistics industry

10. Grab raises US$850 million to expand into financial services

11. The Incredible Rise and Fall of China’s Bike Firm Ofo