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Hoonigan Describes Bankruptcy as a “Strategic Transaction”

Hoonigan, the lifestyle and apparel brand established by the late rally icon Ken Block, has filed for Chapter 11 bankruptcy protection as it works to reorganise and manage its heavy debt load. Now part of Wheel Pros, an aftermarket wheel company owned by Clearlake Capital, Hoonigan is looking to eliminate $1.2 billion in debt while raising up to $570 million in new capital to stabilise its financial situation.

Originally created as Ken Block’s personal lifestyle venture, Hoonigan gained widespread recognition through its popular YouTube channel, “The Hoonigans,” boasting over 5.73 million subscribers. After Block’s passing in 2023, the channel saw much of its original talent depart, contributing to significant changes in the brand’s direction.

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Japan to Boost EV Battery Production – Toyota, Nissan, Panasonic, Subaru, and Mazda Involved

Japan is intensifying its efforts to bolster electric vehicle (EV) battery production with an investment of $2.4 billion in subsidies to strengthen the nation’s battery supply chain. The government has earmarked support for 12 projects focusing on storage batteries and related components, aiming to expand Japan’s annual battery production capacity by 50% to 120 gigawatt-hours (GWh), up from the current 80 GWh.

Minister of Economy, Trade and Industry, Ken Saito, emphasised that this initiative is designed to improve Japan’s battery industry’s global competitiveness. Major automotive and battery manufacturers, including Toyota, Nissan, Panasonic, Subaru, and Mazda, are involved in these efforts, which reflect Japan’s strategic push to increase domestic battery production.

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Proton Announces The Start Of CKD Operations For Saga In Egypt

Proton has expanded its international presence by announcing the launch of CKD (Completely Knocked Down) operations in Egypt. This milestone was marked at Proton’s Centre of Excellence headquarters with a ceremony to flag off 120 units of LHD Proton Saga CKD packs for export to Egypt.

The event saw notable attendees such as H.E. Ragai Tawfik Said Nasr, the Egyptian Ambassador to Malaysia, and Datuk Hanafi Sakri, Deputy Secretary General of the Ministry of Investment, Trade, and Industry, alongside Proton’s senior leadership, including Chairman Tan Sri Syed Faisal Albar and Deputy CEO Roslan Abdullah.

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Touch ‘n Go is Back with the Third Edition Hot Wheels Series Card

Touch ‘n Go Sdn Bhd is back with the third edition of its popular Hot Wheels Series card, an exciting offering for both car enthusiasts and collectors. This limited-edition card boasts a dual-tone design that captures the high-speed thrill associated with Hot Wheels, making it a standout collectable.

With only 2,000 units available, this special edition card offers exclusivity for fans. Beyond its collectable appeal, the card is fully functional, offering cashless payment options for daily commutes, tolls, and parking at over 1,500 locations. Its stylish look adds excitement to every transaction.

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First Jaecoo 3S Dealership Opens Its Doors in Kota Kinabalu

Jaecoo has significantly expanded its service network by launching its first dealership in East Malaysia, located in Kota Kinabalu, Sabah. This move aligns with the premium off-road SUV brand’s commitment to ensuring network readiness following a successful month of J7 deliveries.

Leo Chen, Executive Vice President of Chery Corporate Malaysia, emphasised the importance of East Malaysia to the brand, noting that the Jaecoo J7 is well-suited to meet the strong demand for SUVs in Sabah. The dealership launch represents the brand’s continued effort to offer a premium ownership experience consistent with the “From Classic, Beyond Classic” brand ethos.

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JPJePlate Launch: Setting a National Standard for EV Plates in Malaysia

The Ministry of Transport (MOT) and the Road Transport Department (JPJ) have officially initiated the pilot phase of the new standardised number plates, known as JPJePlate. This new system is mandatory for all new battery-powered and hydrogen fuel cell electric vehicles (excluding motorcycles) delivered from today onwards. The objective of JPJePlate is to introduce a national standard for vehicle plates, beginning with electric vehicles (EVs) and hydrogen-powered cars.

Key Details of the JPJePlate:

Pilot Phase: Initially applicable to new electric and hydrogen fuel cell vehicles delivered during this phase.
Existing EV Owners: Existing EV owners can begin ordering JPJePlate starting November 9, 2024, although registration of interest is available now.

Pricing and Package Information:

Cost: Each JPJePlate set is priced at RM98.
Availability: Currently, JPJePlates can only be ordered by car manufacturers and dealers via the official JPJePlate website.
Package Contents:
- 1x Front vehicle plate
- 1x Rear vehicle plate
- 1x RFID windshield sticker
- 1x Set of anti-theft one-way screws
Delivery: The RM98 cost includes delivery to an authorised installation partner, but plates will be sent directly to dealerships at this stage.

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