Latest news with #EON
New Straits Times
5 days ago
- Automotive
- New Straits Times
DRB-Hicom's EON on track for 12,000 sales despite fierce market competition
SHAH ALAM: DRB-Hicom Bhd's retail arm, Edaran Otomobil Nasional Bhd (EON), aims to sell 12,000 vehicles by year-end, having already reached the halfway mark amid intensifying industry competition. Chief executive officer Akkbar Danial said about 6,000 units have been sold across various models within the EON Group so far this year, keeping the company on track to meet its goal. "We are optimistic about reaching our target. If we just sit and wait, the sales would not happen, but with our own initiatives and uniqueness, we believe we can achieve the numbers," he told reporters at the launch of EON & Sahabat Autofest 2025 here today. The three-day event, which starts on Aug 8, is expected to secure 888 bookings. EON anticipates about 10,000 visitors this year, up from 6,000 last year. Akkbar said while the total industry volume remains stable compared with last year, competition has intensified with more automotive brands entering the market. "That is why EON is finding ways to differentiate itself in the automotive industry to remain relevant and a top choice for customers," he said. On the United States' tariff measures, Akkbar said there is no immediate impact on EON's retail prices as most of its models are completely knocked down (CKD) units assembled in Malaysia. Instead of expanding physical branches aggressively, EON plans to strengthen its digital presence through its EON Online marketplace, which offers real-time booking, payment and service appointment features. "We are continuously assessing how to expand our representation in every state or district. But we need to be more unique. "Simply opening new showrooms would incur high capital expenditure. So we need to be more creative in expanding our presence," Akkbar said. The Autofest, now in its second edition, offers visitors a fully integrated experience across eight interactive zones. These zones bring together a wide range of multi-brand vehicle displays, financing solutions, aftersales services, lifestyle attractions, and family-friendly activities. Early registrants stand a chance to win exclusive collector's items, including the limited Proton Saga 40th Anniversary Hot Wheels edition. Participating brands include Proton, smart, Mitsubishi, Honda, Isuzu, Audi, Volkswagen, and Daihatsu, with strong support from ecosystem partners in finance, insurance, mobility tech, and aftersales. According to Akkbar, attendees will also be able to obtain on-the-spot loan approvals in just 30 minutes through Tras, EON's digital financing platform, in collaboration with partner banks. EON has also introduced the Muamalat EON Visa Infinite-i and Muamalat EON Visa Platinum-i co-branded credit cards through a strategic collaboration with Bank Muamalat Malaysia Bhd.
Yahoo
5 days ago
- General
- Yahoo
Mayor visits Hunmanby's Hungate Court to witness energy improvements
A £2.2 million project has transformed a 1970s sheltered housing block in Hunmanby. Hungate Court was visited by York and North Yorkshire's mayor, David Skaith, who saw the changes made through a project led by Beyond Housing. The project has been backed by £650,000 from the Government's Warm Homes: Social Housing Fund, and conducted in partnership with Beyond Housing's project involved the installation of 176 energy-saving measures - with energy usage, according to a spokesperson, now down by "around 75,000 kWh annually." Mr Skaith said: "This £2.2 million investment at Hungate Court delivers warmer and more comfortable homes, while reducing costs for families and contributing to our regional mission to reach net zero by 2034 and become England's first carbon negative region by 2040." By way of demonstrating the scale of that mission, the mayor also said that "more than a quarter" of homes in York and North Yorkshire were built more than 100 years ago.
The Sun
5 days ago
- Automotive
- The Sun
EON Bhd aims to sell 12,000 vehicles in 2025 amid market competition
SHAH ALAM: Edaran Otomobil Nasional (EON) Bhd has set a goal to sell more than 12,000 vehicles this year. Chief executive officer Akkbar Danial revealed the company has already sold around 6,000 units across various models. EON serves as the official distributor for Proton and also handles global brands Audi, Mitsubishi, and Volkswagen through subsidiaries. 'Competition in the market has increased with more car brands being sold in Malaysia, so it's now more challenging,' Akkbar said. 'That's why I believe EON will try to find its unique edge or differentiation in the automotive industry to ensure we remain relevant in the market and continue to be one of the top choices for customers,' he added. He shared these insights after launching the EON & Sahabat Autofest 2025 in Shah Alam today. The company remains optimistic about hitting its sales target through strategic initiatives. The EON & Sahabat Autofest 2025 runs from today until August 10 at EON Glenmarie and nationwide branches. Akkbar highlighted that the event will feature eight unique experience zones. Visitors can explore multi-brand vehicles, financial solutions, after-sales services, and family-friendly activities. 'Last year, we received between 6,000 and 7,000 visitors for this event,' he said. 'We are targeting around 10,000 visitors this year.' The company also anticipates 888 bookings or sales during the three-day event. EON also announced a partnership with Bank Muamalat Malaysia Bhd. The collaboration introduces the Muamalat EON Visa Infinite-i and Muamalat EON Visa Platinum-i co-branded credit cards. Akkbar noted that cardholders will enjoy exclusive cashback on overseas and contactless transactions. Additional perks include warm alerts, reward points, and comprehensive Takaful protection. - Bernama
Time of India
05-08-2025
- Business
- Time of India
Hyd startup EON Space Labs raises $1.2M in Pre-Series A funding
Hyderabad: EON Space Labs, a Hyderabad-based deeptech startup focused on building advanced imaging technologies, has raised $1.2 million (approximately 10.5 crore) in a Pre-Series A funding round from MGF Kavachh and HHV Advanced Technologies, both of whom have also come on board as strategic partners. Tired of too many ads? go ad free now Set up in 2022 by three former LV Prasad Eye Institute (LVPEI) employees—Punit Badeka, Sanjay Kumar, and Manoj Kumar Gaddam—the T-Hub and IIT-Madras incubated EON is building miniaturised, high-resolution imaging systems for use in satellites, drones, unmanned aerial systems, and fixed ground platforms. The company was also a winner of one of the iDEX (Innovations for Defence Excellence) challenges and Ramaiah Evolute. The startup said the funds will support the launch of MIRA, touted as India's lightest high-res space telescope that is three to four times lighter and smaller than currently available space telescopes, later this year in a mission in collaboration with another Hyderabad-based startup, TakeMe2Space, that plans to launch India's first AI laboratory in space aboard Indian Space Research Organisation's launch vehicle. "MIRA is a monolithic telescope that has been manufactured using ultra-precision technology and is made from a single piece of fused silica glass, a space-qualified material. We reduced the moving components into one single block of pure silica glass," Badeka said. The fundraise will also help fund the launch of four new LUMIRA electro-optical and infrared (EO/IR or day & night) imaging systems designed for long-range detection of humans, vehicles, threats, and UAVs to enhance surveillance capabilities for both drone and ground-based platforms for surveillance and disaster response. Tired of too many ads? go ad free now The LUMIRA variants will target up to 85% of the use cases in the global EO/IR surveillance market, which is currently pegged at around $11 billion. EON already bagged multiple commercial orders for LUMIRA following successful proof of concept demonstrations.
Yahoo
30-07-2025
- Automotive
- Yahoo
Hitachi secures $700m contract from E.ON to strengthen grid infrastructure in Germany
Hitachi Energy has secured a contract worth up to $700m (SFr563.85m) with network operator to supply transformers for Germany's electricity grid to enhance the country's energy security, resilience and affordability. The announcement coincides with the new German Government's declaration of a €500bn ($587bn) fund aimed at enhancing infrastructure, with a significant emphasis on energy. The agreement is part of a new procurement initiative by aimed at core grid expansion components. The new initiative comes after German elections highlighted concerns over energy prices and reliability. With living costs rising, 70% of Germans are worried about escalating energy expenses, according to Reuters. The country anticipates that electricity demand will surge from 96 terawatt-hours (TWh) in 2024 to 236TWh by 2035 due to advancements in AI, data centres and the electrification of industries such as vehicles, heat pumps and hydrogen, as per Barrons. Under this long-term partnership, Hitachi Energy will use its resources and collaborations to secure capacity and spearhead industry efforts to tackle the global shortage of transformers, which are essential for power grid infrastructure. The Bundesnetzagentur, along with various German utilities and grid operators, is in urgent need of transformers to avoid grid connection delays, obstacles to new routing and potential setbacks to expansion plans aimed at promoting clean energy and electrification. Hitachi Energy is implementing an investment plan totalling $9bn to scale up manufacturing capacity worldwide, including the expansion of its Bad Honnef factory in Germany. Under the framework agreement with Hitachi Energy will provide a significant portion of the transformers by allocating manufacturing capacity to facilitate the rapid expansion and modernisation of the German power grid. Hitachi Energy CEO Andreas Schierenbeck said: 'The growing importance of power grids demands bold investments and breakthrough innovations to shape the energy systems of the future. 'Our expansion goes beyond business – it reflects our responsibility as a global leader to accelerate capacity and deliver the critical equipment our customers urgently need. Strategic partnerships like this one empower TSOs, utilities and industry to build a more sustainable, secure, resilient and affordable energy system for Germany.' In February 2025, called on Germany's new government to improve returns on energy grids. The company highlighted that competitive margins are crucial for increasing investment in the sector. "Hitachi secures $700m contract from to strengthen grid infrastructure in Germany" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
