TOKYO, Dec 15 (Reuters) – Toyota Motor Co (7203.T) said on Wednesday it planned to build 800,000 vehicles globally in January, a record for the month, as it ramps up production to make up for output lost to parts shortages.
“We will continue to maintain our production forecast of the 9 million unit level” for the year to March 31, the company said in a press release. Continue reading “Toyota says it will build record 800,000 vehicles in January”
Dec 15 (Reuters) – As they scour the globe for the lithium, nickel and cobalt resources needed to keep China on top in the electric vehicle (EV) stakes, Chinese battery and EV makers are fretting about supply of another mineral closer to home – graphite.
Graphite, in both natural and synthetic forms, is used for the negative end of a lithium-ion battery, known as the anode. Around 70% of all graphite comes from China, and there are few viable alternatives for batteries. Continue reading “China EV, battery makers grapple with graphite squeeze”
Dec 14 (Reuters) – Uber Technologies Inc (UBER.N) is looking to sell stakes in non-strategic assets including its holding in Beijing-based Didi Global Inc (DIDI.N), its CEO said on Tuesday, who also described the China market as a tough one with little transparency.
The U.S. firm pulled out of China in 2016 after burning through more than a billion dollars a year due to a price war with Didi. It eventually sold its China operations to Didi in exchange for a stake. Continue reading “Uber looking to sell Didi, China market has little transparency, CEO says”
E-mobility technology platform MoEVing has announced its total seed funding of $5 Mn, including $1 Mn raised earlier this year to accelerate growth.
The company currently operates 600 EVs in 10 cities and aims to scale to 10,000 EVs, 100 charging hubs in 30 cities by 2023, said a company statement. Continue reading “EV Tech Startup MoEVing Raises $5 Mn Seed Capital To Accelerate Growth”
Bengaluru-based electric two-wheeler maker Simple Energy has collaborated with the Indian Institute of Technology-Indore (IIT-Indore) to develop an advanced thermal management system for its flagship e-scooter Simple One and future products, the company announced on Tuesday.
The collaboration with IIT Indore will boost Simple Energy’s R&D and aid in the integration of lightweight vehicles with high-performance (composite) materials to reduce range anxiety and accelerate consumer demand in line with government standards, it said. Continue reading “Simple Energy joins hands with IIT-Indore for flagship e-scooter, future products”
Dec 10 (Reuters) – General Motors (GM.N) is considering investing more than $4 billion in two Michigan plants to boost its electric vehicle production capacity, according to sources and documents made public on Friday.
GM has proposed building a $2.5 billion battery plant near Lansing with partner LG Energy Solution (051910.KS), the documents show. Continue reading “GM eyes investments of more than $4 billion in Michigan EV plants”
FRANKFURT, Dec 11 (Reuters) – Europe’s automotive sector has become too reliant on Asia and other regions for vital components such as semiconductors and battery cells, Bosch’s (ROBG.UL) outgoing chairman told a German newspaper.
Automotive Chips and battery cells have become the two most important components in the age of electric and autonomous vehicles, forcing European carmakers to rely on Asian suppliers as local industry has been slow to build capacity close by. Continue reading “Europe’s car industry too reliant on other regions, says Bosch chairman”
Dec 13 (Reuters) – Tesla (TSLA.O) Chief Executive Officer Elon Musk was named Time magazine’s “Person of the Year” for 2021, a year that saw his electric car company become the most valuable carmaker in the world and his rocket company soar to the edge of space with an all-civilian crew.
Musk is also the founder and CEO of SpaceX, and leads brain-chip startup Neuralink and infrastructure firm The Boring Company. Tesla’s market value soared to more than $1 trillion this year, making it more valuable than Ford Motor (F.N) and General Motors (GM.N) combined. Continue reading “Elon Musk named Time’s 2021 ‘Person of the Year’”
BERLIN, Dec 13 (Reuters) – Volkswagen (VOWG_p.DE) said on Monday it was looking at locations for planned battery cell plants in Spain and eastern Europe and the exact sites for its third and fourth gigafactories would be determined in the first half of 2022.
“By 2030, Volkswagen plans to open two more cell factories in Europe,” the group added in a statement. Continue reading “Volkswagen plans to decide new gigafactory locations in H1, 2022”
BARCELONA, Dec 13 (Reuters) – Chinese carmaker Great Wall Motor (601633.SS) has withdrawn its interest in taking over Nissan’s (7201.T) main plant in Barcelona, which is scheduled to shut by year-end, the Spanish government and Nissan unions said on Monday.
Great Wall did not respond to a request for comment. Continue reading “Great Wall Motor withdraws interest in Spain’s Nissan plant”
BERLIN, Dec 13 (Reuters) – Daimler (DAIGn.DE) on Monday said its Chinese shareholder Beijing Automotive Group Co Ltd (BAIC)(1958.HK) does not plan to increase its stake in the German luxury carmaker beyond the 9.98% stake it has held since 2019.
The German carmaker said BAIC told Daimler after the Daimler Truck spinoff on Friday that it has held a 9.98% stake since 2019, and does not plan to increase it further. Continue reading “China carmaker BAIC has 9.98% stake in Daimler, no plans to raise it further”
By WAF Think Tank
Honda cars have always been known for their quality, performance, stellar fit & finish and endurance. Honda’s Core philosophy revolves around Respect for the Individual and the 3 Joys viz Joy of Buying, Joy of Selling and Joy of Creating.
When it comes to creating at Honda, a name comes up prominently, like a shining star and that is Mr Navid Talib.
Talib san as he’s lovingly addressed by his colleagues, teams and friends, has been the key driving force behind Engineering, Quality, New Model Development and Manufacturing of Honda Cars, as he had been heading all these functions at Honda Cars at India.
Continue reading “Finest Tech Mind, A Thorough Professional, A True Gentleman – Navid Talib”
New Delhi: Auto components maker Minda Industries Ltd (MIL) on Friday said it has entered into a joint venture agreement with FRIWO AG Germany to manufacture and supply various electric vehicle components in the Indian subcontinent with a planned capex of Rs 390 crore in the next six years. MIL, the flagship firm of Uno Minda Group, will hold a majority stake of 50.1 per cent, with the rest held by FRIWO AG Germany — a global manufacturer of innovative power supply units and e-drive solutions, the company said in a regulatory filing.
In a separate filing, the company said it will also expand production capacities of its two-wheeler and four-wheeler alloy wheels business for which a total capital expenditure (capex) outlay of Rs 264 crore has been made. Continue reading “Minda Industries forms JV with Germany’s FRIWO for manufacturing EV components”
NEW DELHI, Dec 8 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) said on Wednesday it planned to invest 40 billion rupees ($530 million) to launch six electric vehicles in India by 2028, making a clean driving push in a country with some of the world’s most polluted cities.
Hyundai, India’s second largest carmaker, will launch affordable and premium electric models including sport utility vehicles (SUVs) and sedans, starting with its first electric vehicle (EV) in 2022, said Tarun Garg, director sales and marketing for Hyundai Motor India. Continue reading “Hyundai to invest $530 million to launch six EVs in India by 2028”
BANGKOK, Dec 8 (Reuters) – Ford Motor Co (F.N) is investing $900 million to upgrade factories in Thailand that build its Ranger pickup truck and Everest SUV, its largest-ever investment in the country.
The plan includes a near doubling of the number of robots at its Thai manufacturing plant and at AutoAlliance Thailand, a venture with Mazda Motor Corp (7261.T), while $400 million of the investment will go towards its supply chain network. Continue reading “Ford invests $900 mln to modernise Thai auto plants”
WASHINGTON/DETROIT, Dec 8 (Reuters) – The U.S. government plans to end purchases of gas-powered vehicles by 2035 in a move to lower emissions and promote electric cars under an executive order signed by President Joe Biden on Wednesday.
The government owns more than 650,000 vehicles and purchases about 50,000 annually. Biden’s executive order said that light-duty vehicles acquired by the government will be emission-free by 2027. Continue reading “U.S. government to end gas-powered vehicle purchases by 2035 under Biden order”
FRANKFURT, Dec 8 (Reuters) – Lithium developer Vulcan Energy Resources (VUL.AX) has secured Volkswagen (VOWG_p.DE) as an additional car industry customer for its environmental-friendly lithium hydroxide for automotive batteries.
The binding purchase agreement with Volkswagen for lithium extracted from Germany’s Upper Rhine Valley region by means of geothermal energy has an initial term of five years with commercial delivery to start in 2026, Vulcan said in a statement on Wednesday, without providing contract details. Continue reading “Lithium extraction company Vulcan adds VW to customer line-up”
LONDON, Dec 8 (Reuters) – French carmaker Renault (RENA.PA) on Wednesday received a blow for its popular Zoe electric model, as the European New Car Assessment Programme (NCAP) gave it a zero-star safety rating in tests that are standards for Europe.
The carmaker, which is cutting costs and working to turn around its performance after overstretching itself over years of ambitious global expansion, also received a one-star rating for its lower-cost electric Dacia Spring model. Continue reading “Renault Zoe goes from hero to zero in European safety agency rating”
FRANKFURT, Dec 9 (Reuters) – Volkswagen (VOWG_p.DE) is readying its battery unit for a partial sale or listing and has agreed to convert it into a so-called European company, or Societas Europaea, to provide the conditions for such a move, CEO Herbert Diess said.
Diess, speaking after the carmaker provided details on its new five-year investment plan, said that the move was aimed to prepare the division for capital market activity, including bringing in external partners. Continue reading “Volkswagen prepares battery division for capital markets – CEO”
TOKYO, Dec 9 (Reuters) – Toyota Motor Corp (7203.T)has halted production at two factories in Japan due to a supply shortage, a spokesperson told Reuters on Thursday.
The stoppage means that Toyota cannot return to normal operations in December as it had originally planned. Continue reading “Toyota halts production at 2 Japan factories due to supply shortage”
Dec 10 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk is “thinking of” leaving his jobs and becoming an influencer, the world’s richest man tweeted on Thursday.
“thinking of quitting my jobs & becoming an influencer full-time wdyt,” Musk said in the tweet, without elaborating. Continue reading “Tesla’s Musk says he is ‘thinking of’ quitting his jobs”
San Francisco, Dec 9 (Reuters) – Tesla Inc (TSLA.O) is being sued by a second female employee for sexual harassment in less than a month, with the two lawsuits alleging a “hostile work environment” against women at the car maker’s U.S. factory.
Erica Cloud, a Tesla assembly line worker, accused defendants including her former manager of “continuous and pervasive” sexual harassment in a lawsuit filed in Alameda County Superior Court in California on Wednesday. Continue reading “Tesla sued by second female worker over sexual harassment, retaliation”
Dec 9 (Reuters) – General Motors Co (GM.N) plans to source rare earth magnets for its future electric vehicles from new U.S.-based manufacturing facilities under two separate deals announced on Thursday, a return to an industry the automaker had all but abandoned in the 1990s.
The agreements with MP Materials Inc (MP.N) and privately-held Vacuumschmelze are the latest push by GM to domestically source EV materials for its Ultium platform, a goal it hopes to achieve by 2025. GM did not disclose financial terms. Continue reading “General Motors returns to rare earth magnets with two U.S. deals”
TOKYO, Dec 10 (Reuters) – Toyota Motor Co (7203.T) on Friday expanded production stoppages at some factories in Japan because of a shortage of components shipped from parts plants in Southeast Asia.
The latest halts will cut car output by 9,000 vehicles when added to curbs announced on Thursday, affecting production of Lexus models and its four-wheel-drive Land Cruiser, Toyota said in a press release. Continue reading “Toyota halts more production in Japan as parts run out”
Hyderabad (Telangana) [India], December 9 (ANI/NewsVoir): Optimizing on the successful launch of the One Moto EV’s in India, the EV’s were publicly put on display for the first time in India at the Green Vehicle Expo in Bengaluru from November 27-29 2021. With a massive turnout of over 15,000 people at the One Moto stall, the Expo has proven to be a major boost for One Moto Lovers with visitors crowding in for the viewing and information of the vehicles.
The EV’s have gained huge popularity among the crowd owing to their stylish designs and standout features. Among the major goals of One Moto India is to create a sustainable society that has the ease of adaptability. The charging capacities and the low carbon footprint that the EV’s yield have been the defining features for their popularity. Continue reading “One Moto leads the race in EV domination, outshines competitors at Bengaluru EV Expo”
Mr Prakash M Telang had been a force at Tata Motors for over 4 decades. He was promoted as MD of TML in 2009- 10 on retirement of Mr Ravi Kant
Mr Telang had led Tata Motors’ overseas expansion at Thailand, South Africa and other regions. He had also led several cost reducing innovations like E-Procurement.
Prior to taking on the mantle as the MD, he led the CVBU business as its ED where he is credited for innovative & successful products like the Tata Ace . He was a key team member behind the earlier game changer product Tata 407
Mr Telang had joined the House of Tatas via the TAS- Tata Administrative Services and even after his retirement continued to hold several board positions in the Tata Group of Companies.
He shall be remembered for his warm and helpful nature, sharp insights, Manufacturing Innovations and long standing commitment to Tata Motors, Tata Group and the India Business EcoSystem.
“He was committed to manufacturing,” Ravi Kant, former vice-chairman Tata Motors
‘May the All Mighty grant his soul eternal peace. Praying for strength to his family and friends,’ says Anuj Guglani, CEO WAF
PARIS, Dec 6 (Reuters) – French carmaker Renault (RENA.PA) said on Monday it had revised down its forecast for engineering and support jobs cuts in France between 2022 and 2024 to 1,700 from the 2,000 job losses previously expected.
Renault, 15% owned by the French government, said in September it would start talks with unions on plans to cut up to 2,000 engineering and support jobs in France as it shifts into electric vehicles and hires for different posts. Continue reading “Renault to cut fewer jobs than initially planned by 2024”
BENGALURU, Dec 2 (Reuters) – U.S. ride-hailing company Uber Technologies Ltd (UBER.N) said on Thursday it would roll out a feature that will allow users in India to book rides via messaging service WhatsApp.
The move could help Uber tap into the more than 500 million user base of Meta Platforms-owned (FB.O) WhatsApp in India. Continue reading “Uber to allow users to book rides via WhatsApp in India”
BERLIN, Dec 2 (Reuters) – Daimler’s (DAIGn.DE) supervisory board signed off an investment plan worth over 60 billion euros ($67.88 billion) for Mercedes-Benz Cars & Vans between 2022 and 2026, the company said on Thursday.
The statement, issued a week before the Cars & Vans division splits off from Daimler Truck & Buses on December 10, said that the luxury vehicle maker aims to be at the forefront of electric vehicle production and software following the listing. Continue reading “Daimler supervisory board signs off 60 bln euro investment plan for Mercedes-Benz”
SILVERSTONE, England, Dec 2 (Reuters) – You can save your prized Aston Martin DB6, Porsche 911 or Mustang from the museum of combustion engine history. Or your Fiat 500 and Renault Clio, for that matter.
That’s the message from a growing cohort of European and American startups seeking to carve out roles in the auto transition by converting the roaring dinosaurs of the fossil-fuel age into clean electric vehicles (EVs). Continue reading “Saving the dinosaurs: Startups drive to electrify fossil-fuel cars”
WASHINGTON, Dec 2 (Reuters) – Members of the United Auto Workers union have voted to change the union’s election method from the current delegate system to a direct election model, a court-appointed monitor said.
The referendum showed 63.7%, or 89,615 votes, in favor of the direct voting system, with 50,971, or 36.3%, for keeping the status quo, monitor Neil Barofsky said. Continue reading “UAW workers vote to elect union leaders directly”
BEIJING, Dec 3 (Reuters) – Toyota Motor Corp (7203.T) will launch an all-electric small sedan in China late next year, having turned to local partner BYD (002594.SZ) for key technology to finally make an affordable yet roomy runaround, four sources told Reuters.
Two of the four people with knowledge of the matter described the car as an electric holy grail for Toyota which has struggled for years to come up with a small EV that is both competitive on cost in China and doesn’t compromise on comfort. Continue reading “EXCLUSIVE Toyota turns to Chinese tech to reach its electric holy grail”
SYDNEY, Dec 3 (Reuters) – Paramedics with jetpacks, border police in flying cars and city workers commuting by drone all sound like science fiction – but the concepts are part of a advanced air mobility (AAM) market that is expected to be worth as much as $17 billion by 2025.
As urbanisation leaves city streets congested and advances in technology allow for vehicles considered impossible just decades ago, using the sky for small-scale aircraft has become increasingly attractive. Continue reading “Jetpacks, flying cars and taxi drones: transport’s future is in the skies”
Dec 3 (Reuters) – Ford Motor Co (F.N) expects to be the world’s second largest electric vehicle manufacturer within two years, with annual production capacity of nearly 600,000, a top company executive said Friday.
The automaker’s optimism stems from increasing demand for its next new EV, the Ford F-150 Lightning pickup, with retail reservations approaching 200,000, Lisa Drake, chief operating officer of Ford North America, said. Continue reading “Ford aims to be world’s #2 electric vehicle maker within two years – COO”
Dec 3 (Reuters) – The U.S. Trade Representative’s office said on Friday it was committed to legislation strengthening the domestic electric vehicle industry despite objections from Mexico and Canada over a proposed tax credit for electric vehicles built by U.S. union workers.
The proposed $12,500 electric vehicle tax credit would include $4,500 for EVs built in the United States by union workers, effective after 2027. It is included in the Biden administration’s sweeping climate and social spending legislation now under consideration by Congress. Continue reading “USTR backs efforts to strengthen U.S. EV industry despite objections”
HANOI, Dec 4 (Reuters) – Vingroup JSC (VIC.HM), Vietnam’s largest conglomerate, said on Saturday it is planning to list its car unit on the U.S. stock market in the second half of next year, in an offering expected to raise at least $3 billion.
Just last month, an official said the listing may happen within the next couple of years, as the company joins a growing list of electric vehicle startups taking advantage of investor excitement to raise funds. Continue reading “Vingroup plans U.S. IPO for automaking arm in late 2022”
Around 2,45,262 passenger cars were sold in the Indian market for November 2021. The sales dropped by 14.3 percent YoY. The shortage of semiconductors crippled the entire supply chain during the festive season and the drop in dispatches has hit both the OEMs and PV dealers hard. The industry recorded its worst festive season in the last decade due to the supply crunch.
India’s biggest OEM Maruti Suzuki stated, “The shortage of electronic components had a minor impact on the production of vehicles during the month. The shortage primarily affected the production of vehicles sold in the domestic market. The company took all possible measures to minimize the impact.” Continue reading “November 2021 Car Sales – Snapshot”
FLINS, France, Nov 30 (Reuters) – Renault (RENA.PA) said on Tuesday that its yet-to-launch recycling business could generate an extra one billion euros ($1.13 billion) in revenue by the end of the decade.
“These activities will generate 200 million (euros) in turnover from 2025”, Renault Chief Executive Luca de Meo told reporters at a former car production plant in the town of Flins, near Paris, which it is repurposing for the recycling and reconditioning of used vehicles and components. Continue reading “Renault expects $1.1 billion revenue from new recycling business”
FRANKFURT, Dec 1 (Reuters) – Volkswagen’s (VOWG_p.DE) planned European battery cell plants and securing vital raw materials will cost as much as 30 billion euros ($34 billion), board member Thomas Schmall said, putting a price tag on the expansion for the first time.
Schmall, who is in charge of technology at Europe’s largest carmaker, said in an interview at the Reuters Next conference that Volkswagen would seek outside partners to fund it. Continue reading “VW expects battery, raw material drive to cost up to $34 bln”
