Kate Abnett

Reuters 3 min read

BRUSSELS, June 29 (Reuters) – One in every nine new cars sold in Europe last year was an electric or plug-in hybrid vehicle, with low-emission car sales surging even as the COVID-19 pandemic knocked overall vehicle sales, the European Environment Agency said on Tuesday.

The uptick in electric car sales caused a 12% drop in average CO2 emissions of new cars sold in Europe last year, compared with in 2019, reversing a trend that had seen such emissions increase for three consecutive years.

Continue reading “Electric car sales surge as Europe’s climate targets bite”

Joseph White

Reuters 1 min read

DETROIT, June 29 (Reuters) – The Detroit automakers and the United Auto Workers said on Tuesday fully vaccinated workers at their U.S. factories will not have to wear masks on the job beginning on July 12.

General Motors Co (GM.N), Ford Motor Co (F.N), Stellantis NV (STLA.MI) and the union that represents their U.S. manufacturing workers said in a joint statement that those who have not been vaccinated will continue to wear masks at work.

Continue reading “Detroit automakers, UAW drop mask mandate for vaccinated workers”

Steve Scherer

Reuters 3 min read

OTTAWA, June 29 (Reuters) – Canada will ban the sale of fuel-burning new cars and light-duty trucks from 2035 in an effort to reach net-zero emissions across the country by 2050, Prime Minister Justin Trudeau’s government said on Tuesday.

Only zero-emissions cars and trucks can be sold from 2035, according to a statement, adding that a mixture of investments and regulations will help industry transition toward that goal. The government also said it will set interim targets for 2025 and 2030.

Continue reading “Canada to ban sale of new fuel-powered cars and light trucks from 2035”

Ben Klayman

Reuters 3 min read

DETROIT, June 29 (Reuters) – U.S. regulators on Tuesday said they would keep a closer eye on the automotive industry as it rolls out advanced driver safety systems, tracking the new technologies to spot potential defects faster.

The National Highway Traffic Safety Administration (NHTSA) issued an order requiring automakers and operators of vehicles equipped with advanced driver assistance or automated driving systems to report crashes within one day of learning of an incident.

Continue reading “U.S. regulators to more closely monitor advanced driver safety systems”

Yadarisa Shabong

Reuters 2 min read

June 29 (Reuters) – Britain’s automotive industry called for a binding target for the country to achieve 60 gigawatt hours (GWh) of battery capacity by 2030 or risk losing tens of thousands of jobs.

So far, start-up Britishvolt is the only company to announce a plan to build a British battery plant, which it said will deliver more than 30 GWh capacity by end-2027.

Continue reading “British auto industry says Gigafactories needed to save jobs”

Reuters

1 min read

June 28 (Reuters) – Ford Motor Co (F.N) said on Monday its financial services arm, Ford Credit, would wind down operations in Brazil and Argentina and take a non-cash charge of up to $375 million.

Ford said it expects most of these losses, which include $365 million related to foreign currency, to be recognized in 2021, though the timing for the completion of the shutdown is uncertain. (https://bit.ly/3dGEayr)

Continue reading “Ford to wind down finance businesses in Argentina, Brazil”

Reuters

2 min read

PARIS, June 28 (Reuters) – French carmaker Renault (RENA.PA) said on Monday it had sealed partnerships with China’s Envision AESC and France’s Verkor to produce electric car batteries in northern France.

Carmakers globally are racing to keep ahead of rivals in producing cleaner vehicles, a technology shift that is already prompting Germany’s Volkswagen (VOWG_p.DE) to build six battery cell plants of its own in Europe.

Continue reading “Renault seals electric car battery deals with Envision, Verkor”

Reuters

1 min read

BEIJING, June 28 (Reuters) – Shen Tiedong has been named as chairman of Huachen Group, parent of BMW’s (BMWG.DE) China partner Brilliance Auto (1114.HK), according to a Brilliance Auto wechat post on Monday.

Huachen is standing on the brink of bankruptcy, defaulting on billions of yuan in debt obligations. Chinese regulators have launched an investigation into possible violations of disclosure laws by the company.

Continue reading “Embattled parent of BMW’s China partner names new chairman”

Reuters

2 min read

June 28 (Reuters) – The United Auto Workers (UAW) said on Monday Secretary-Treasurer Ray Curry would serve as the union’s president after Rory Gamble retires from the role at the end of June.

Gamble will retire a year before completing his tenure, after steering the union through a multi-year federal corruption investigation. read more

Continue reading “United Auto Workers elects Ray Curry to replace Rory Gamble as president”

Reuters

2 min read

June 29 (Reuters) – Reuters analyzed data generated by an Argonne National Laboratory model to determine at what point a typical electric vehicle (EV) becomes cleaner than an equivalent gasoline car in terms of its lifetime carbon footprint.

Based on a series of assumptions, the data showed that a Tesla Model 3 in the United States, for example, would need to be driven for 13,500 miles (21,725 km) before it does less harm to the environment than a Toyota Corolla. read more

Continue reading “Factbox: Lifetime carbon emissions of electric vehicles vs gasoline cars”

Paul Lienert

Reuters 5 min read

DETROIT, June 29 (Reuters) – You glide silently out of the Tesla (TSLA.O) showroom in your sleek new electric Model 3, satisfied you’re looking great and doing your bit for the planet.

But keep going – you’ll have to drive another 13,500 miles (21,725 km) before you’re doing less harm to the environment than a gas-guzzling saloon.

Continue reading “Analysis: When do electric vehicles become cleaner than gasoline cars?”

1 min read

Hyundai and Maruti race to become the No.1 Passenger Vehicle Exporter from India in FY2122! The gap between the two OEMs was a mere 12,375 units for the volumes between Apr’21 to May’21. Will Hyundai be able to supersede Maruti to take the top slot in FY2122? May 2021 Exports will be the deciding factor!

Continue reading “Indian Car Exports May’21 & YTD. Maruti, Hyundai, Volkswagen, Kia and Ford.”

Gilles Guillaume

Reuters 2 min read

PARIS, June 24 (Reuters) – The Renault-Nissan-Mitsubishi alliance is set to scrap a role overseeing ties with Daimler in favour of individual relations with the German group, three sources told Reuters, as they try to better manage a partnership that has not met initial hopes.

The shift comes as alliance-level executive Jacques Verdonck, who was in charge of the cooperation with Daimler (DAIGn.DE), retires at the end of the month, the sources familiar with the matter said.

Continue reading “Renault-Nissan rejig how they manage Daimler partnership – sources”

Reuters

2 min read

BERLIN, June 24 (Reuters) – Germany’s Volkswagen (VOWG_p.DE) confirmed on Thursday it is considering acquiring a majority stake in car rental company Europcar (EUCAR.PA) as it seeks to tap into the trend for consumers to rent rather than own a vehicle.

Volkswagen said it was considering a potential transaction, together with investors Attestor and Pon Holdings, although considerations were at a very early stage and no decisions had been taken.

Continue reading “Volkswagen considering buying majority stake in Europcar”

Ben Klayman

Reuters 4 min read

DETROIT, June 24 (Reuters) – Volvo Cars plans to make lidar sensors standard equipment in a new generation of its XC90 SUV next year as part of a strategy to deploy more advanced safety and automated driving technology that relies on precise images of the world around the vehicle.

The decision by Volvo Cars to fold lidar sensors into the base price of its vehicle is a bet that customers will pay for the additional capability. It has been called a “watershed moment” by some in the industry.

Continue reading “Volvo’s electric XC90 SUV to include lidar as standard equipment next year”

Giulio Piovaccari

Reuters 3 min read

MILAN, June 24 (Reuters) – Ferrari (RACE.MI) unveiled a new first plug-in hybrid car on Thursday as the luxury sports car maker famed for its roaring combustion engines retools its range for an electric era.

The 296 GTB is Ferrari’s third hybrid to go into series production, which excludes limited-edition vehicles. It follows the SF 90 Stradale in 2019 and a convertible version, the SF90 Spider, last year.

Continue reading “Ferrari unveils $320,000 hybrid sports car in its race to electric”

Reuters

1 min read

PRAGUE, June 24 (Reuters) – Skoda Auto, part of Germany’s Volkswagen Group , wants electric cars to make up at least half of its sales in Europe by 2030 as it transitions from motor engines in the coming decade, the Czech carmaker said on Thursday.

As part of its strategy, Skoda will unveil at least three more all-electric models, adding to two models currently. The new models will be positioned below its Enyaq iV electric SUV.

Continue reading “Skoda aims for at least half its European car sales by 2030 to be electric”

David Shepardson

Reuters 2 min read

WASHINGTON, June 24 (Reuters) – A bipartisan $1.2 trillion infrastructure framework does not contain new money for electric vehicle rebates but would spend $15 billion to boost EV charging stations and buy electric school and transit buses, the White House said in a fact sheet.

President Joe Biden proposed $174 billion on electric vehicles, including $100 billion on electric vehicle consumer rebates. Democrats in Congress still plan to seek funding for EV rebates in other legislation this year. The funding would “accomplish the president’s goal of building 500,000 EV chargers” and “electrify thousands of school and transit buses across the country,” the White House said.

Continue reading “U.S. infrastructure deal would fund electric buses, charging stations”

Sam Nussey, Shinji Kitamura

Reuters 3 min read

• Panasonic wants to reduce reliance on Tesla
• Panasonic seeks to raise cash for investing in growth
• Sale will not change relationship – Panasonic spokesperson
• Panasonic shares closed up 4.9%

TOKYO, June 25 (Reuters) – Panasonic Corp (6752.T) sold its stake in electric car maker Tesla Inc (TSLA.O) for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday.

The sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for growth investment.

Continue reading “Panasonic sells Tesla stake for $3.6 bln”

Scott Murdoch, Julie Zhu, Yilei Sun

Reuters 3 min read

June 24 (Reuters) – Chinese ride-sharing giant Didi Global Inc’s $4 billion initial public offering (IPO) received enough investor demand to clinch its targeted price range on Friday, vindicating a lowering of valuation expectations, people familiar with the matter said.

The listing in New York, which will be the biggest U.S. share sale by a Chinese company since Alibaba raised $25 billion in 2014, is expected to price on Tuesday, and the shares to start trading on Wednesday.

Continue reading “Chinese firm Didi’s $4 bln IPO books covered on first day of bookbuild -sources”

The Hindu Business Line

2 min read

Setting up a Dhirubhai Ambani Green Energy Giga Complex in Jamnagar Mukesh Ambani announced ₹75,000-crore investment in next three years into RIL’s new energy business with the aim of bridging the green energy divide in India and globally.

“Reliance will make its new energy business a truly global business. In 2016, we launched Jio with the aim of bridging the Digital Divide in India. Now, in 2021, we are launching our new energy business with the aim of bridging the green energy divide in India and globally,” Ambani said.

Continue reading “RIL to invest ₹75,000 crore in 3 years in new energy business”

David Shepardson

Reuters 3 min read

WASHINGTON, June 23 (Reuters) – The United States International Trade Commission (ITC) said on Wednesday that U.S. manufacturers are “materially injured” by imports of passenger vehicle and light truck tires from Korea, Taiwan and Thailand.

The ITC also found subsidized passenger tires from Vietnam injure domestic manufacturers.

Continue reading “U.S. tire industry harmed by Korea, Taiwan, Thailand tire imports -trade panel”

Reuters

2 min read

BEIJING, June 23 (Reuters) – U.S. electric vehicle maker Tesla Inc (TSLA.O) has opened a solar-powered charging station with on-site power storage in the Tibetan capital Lhasa, the company said in a Weibo post on Wednesday, its first such facility in China.

Tesla does not have a showroom in Tibet, a remote and long-impoverished region. In its post, the company cited the ample sunlight in the mountainous area as behind the move.

Continue reading “Tesla opens solar charging station in Tibet, its first in China”

Reuters

2 min read

BEIJING, June 23 (Reuters) – Chinese electric vehicle maker Xpeng Inc (XPEV.N) filed for a dual primary listing on the Hong Kong Stock Exchange on Wednesday.

A dual primary listing is different from secondary listing and will allow qualified Chinese investors to invest in the company through the Stock Connect regime linking mainland Chinese and Hong Kong markets, according to the exchange’s rules.

Continue reading “China’s EV maker Xpeng files for Hong Kong listing”

Reuters

2 min read

TOKYO, June 24 (Reuters) – Honda Motor Co (7267.T) unveiled its latest Civic hatchback designs on Thursday, with hopes that the all-new model will become a foundation for developing cars more efficiently.

The eleventh generation model of the Civic reflects Honda’s company-wide initiative dubbed Honda Architecture, which is aimed to increase the efficiency of development and to expand parts-sharing for mass-produced cars.

Continue reading “Honda hopes new Civic hatchback to be basis for more efficient cars”

Rajesh Singh

Reuters 7 min read

CHICAGO, June 23 (Reuters) – In 2018, Whirlpool Corp (WHR.N) swung to a loss after a tariff-fueled rally in U.S. steel prices drove up its raw-materials costs.

This year, it is paying $1 billion for steel and other materials, but the West Michigan appliance maker is on track to post its highest profit in decades.

Continue reading “Manufacturers have an answer to higher costs: Pass them on”

Reuters

2 min read

BEIJING, June 23 (Reuters) – WeRide, a China-based autonomous driving startup, said on Wednesday that it would deepen development with Nissan Motor (7201.T) on autonomous driving technology for the China market as it raised $310 million at a $3.3 billion valuation.

WeRide, led by founder Tony Han, is pursuing what is known in the auto industry as a level 4 autonomous standard, in which the vehicle can handle all aspects of driving in most circumstances with no human intervention.

Continue reading “Self-driving startup WeRide deepens ties with Nissan, raises $310 mln”

Reuters

2 min read

BEIJING, June 23 (Reuters) – U.S. electric vehicle maker Tesla Inc (TSLA.O) has opened a solar-powered charging station with on-site power storage in the Tibetan capital Lhasa, the company said in a Weibo post on Wednesday, its first such facility in China.

Tesla does not have a showroom in Tibet, a remote and long-impoverished region. In its post, the company cited the ample sunlight in the mountainous area as behind the move.

Continue reading “Tesla opens solar charging station in Tibet, its first in China”

Bhargav Acharya, Shilpa Jamkhandikar

Reuters 4 min read

June 23 (Reuters) – India said on Wednesday it has found around 40 cases of the Delta coronavirus variant carrying a mutation that appears to make it more transmissible, and advised states to increase testing.

Below is what we know about the variant.

Continue reading “Explainer: What is the Delta variant of coronavirus with K417N mutation?”

Hyundai

3 min read

• Hyundai Motor Group and Grab have expanded their partnership to accelerate adoption of electric vehicles (EVs) in Southeast Asia
• Both parties to explore launching new EV business models including battery-as-a-service and EV financing to drive EV adoption
• Lowering total cost of ownership and reducing range anxiety key to greater EV adoption
• Enhanced partnership to also explore collaboration in new business opportunities and technologies such as smart city solutions

SINGAPORE/SEOUL, June 22, 2021  –  Hyundai Motor Group and Grab Holdings Inc. (Grab) today announced an enhancement of their ongoing strategic partnership in mobility services. The next phase of the partnership will focus on accelerating EV adoption in Southeast Asia. The Group, including Hyundai Motor Company and Kia Corporation which are the Group’s affiliates, and Grab will further develop new pilots and initiatives that lower the barriers of entry for Grab driver and delivery-partners to adopt EVs, such as lowering the total cost of ownership and reducing range anxiety.

Continue reading “Hyundai Motor Group Deepens Partnership with Grab to Accelerate EV Adoption in Southeast Asia”

Reuters

2 min read

BERLIN, June 22 (Reuters) – German luxury carmaker Daimler AG (DAIGn.DE) wants to manufacture its own battery cells, Business Insider reported on Tuesday, citing company sources.

Daimler struck a deal to buy lithium-ion battery cells from Farasis Energy (688567.SS) in 2019 and the Chinese-American supplier had intended to build a factory in East Germany to help the Mercedes-Benz maker ramp up electric vehicle production.

Continue reading “Daimler wants to produce its own battery cells – Business Insider”

Reuters

2 min read

FRANKFURT, June 21 (Reuters) – BMW (BMWG.DE) plans significant production cost cuts by the middle of the decade, one of the German carmaker’s board members said, in a bid to become more competitive with Volkswagen (VOWG_p.DE), Daimler (DAIGn.DE) and Tesla (TSLA.O).

“We will lower the production costs per vehicle by 25% by 2025 – compared with the level in 2019,” Milan Nedeljkovic, BMW’s board member in charge or production, was quoted as saying by German newspaper Handelsblatt.

Continue reading “Board member says BMW to cut production cost per vehicle by 25%”

Reuters

1 min read

TOKYO, June 21 (Reuters) – SoftBank Group Corp (9984.T) said on Monday South Korea’s Hyundai Motor Group had completed the acquisition of robotics firm Boston Dynamics from the Japanese conglomerate.

The deal, which was announced last December and valued the maker of the “Spot” robot at $1.1 billion, gives Hyundai an 80% stake with SoftBank retaining the remaining 20%. read more

Continue reading “Hyundai completes Boston Dynamics purchase from SoftBank”

Reuters

1 min read

WEISSACH, Germany, June 21 (Reuters) – Volkswagen (VOWG_p.DE) will soon decide on the future of its luxury brand Bugatti, Oliver Blume, Volkswagen management board member and CEO of Porsche AG, said on Monday.

Volkswagen in March said it was working on a strategic partnership with Croatian electric hypercar maker Rimac, which will likely result in a joint venture between Porsche and Rimac, with Porsche as a minority partner.

Continue reading “Porsche to decide soon on Bugatti future – CEO”

David Shepardson

Reuters 4 min read

WASHINGTON, June 17 (Reuters) – U.S. auto safety regulators said on Thursday they have opened 30 investigations into Tesla (TSLA.O) crashes involving 10 deaths since 2016 where advanced driver assistance systems were suspected of use.

The National Highway Traffic Safety Administration (NHTSA) released a list offering details about crashes under review by its Special Crash Investigations programs.

Continue reading “U.S. safety agency probes 10 Tesla crash deaths since 2016”

3 min read

Tata Ace had redefined the Small Commercial Vehicle market in the India and in a way created the 4-wheeler SCV segment by itself. Commemorating 16 strong years of the Ace, Tata Motors has announced the launch of the new ‘16 saal bemisaal’ campaign. To celebrate this feat, Tata Motors has organized roadshows, wherein Tata Aces will travel across 10 states in the country. Tata Motors will leverage this opportunity to distribute medical facemasks in the wake of the COVID-19 pandemic. The campaign will aim to showcase the benefits and rewards of starting a small-scale logistics business, especially in this pandemic-induced economic slowdown. Cumulatively, the Aces will travel a distance of around 4 lakh kilometers. Patrons will also be able to test drive the vehicle to gain a first-hand experience of the Ace.

Continue reading “Tata Ace SCV crosses 16 years in the Indian market and over 23 Lakh units sold to date!”

Reuters

1 min read

FRANKFURT, June 17 (Reuters) – Volkswagen’s Audi unit will stop introducing cars based on petrol and diesel engines from 2026, Sueddeutsche Zeitung reported on Thursday, citing comments made by Audi CEO Markus Duesmann to labour representatives and top managers.

The report said there would also no longer be any hybrid models from that date onwards.

Continue reading “Audi sets 2026 end date for combustion engine cars-Sueddeutsche Zeitung”

Reuters

1 min read

June 17 (Reuters) – Ford Motor Co (F.N) said on Thursday its second-quarter operating profit will exceed expectations due to lower costs and rising prices for new and used vehicles amid the global semiconductor chip shortage.

Ford Chief Executive Jim Farley also said at a Deutsche Bank conference that the No. 2 U.S. automaker will eventually raise its spending on electric vehicles beyond the $30 billion-plus through 2025 that it outlined last month. He added the Argo AI self-driving software startup, in which Ford invested, will need more funding in the future. read more

Continue reading “Ford sees better-than-expected quarterly profit on higher vehicle prices”

Reuters

2 min read

SHANGHAI, June 18 (Reuters) – China’s new energy vehicle (NEV) sales are expected to grow more than 40% each year in the next five years, a senior official at the China Association of Automobile Manufacturers (CAAM) said on Friday.

Fu Bingfeng, executive vice chairman of CAAM, made the remarks at a conference held by the industry body in Shanghai.

Continue reading “China new energy vehicle sales to grow over 40%/yr in next 5 yrs -industry body”