DETROIT, Dec 1 (Reuters) – Stellantis NV (STLA.MI) Chief Executive Carlos Tavares said external pressure on automakers to accelerate the shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle to manage the higher costs of building EVs.

Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are “beyond the limits” of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. Continue reading “Stellantis CEO says EV cost burden is ‘beyond the limits’ for automakers”

Dec 1 (Reuters) – U.S. truck maker Navistar International Corp, backed by Volkswagen (VOWG_p.DE), said on Wednesday the Omicron variant of the coronavirus would likely slow the recovery in the global supply chain.

A shortage of semiconductor chips, used to operate everything from driver aids to infotainment systems, have forced major automakers to slash their productions and in some cases build vehicles without certain features. Continue reading “Truck maker Navistar says Omicron variant is likely to slow supply chain recovery”

Dec 1 (Reuters) – Automakers must work closer with lithium producers to guarantee supply of specialized types of the white metal that boost an electric vehicle’s range and performance, Albemarle Corp (ALB.N) and Livent Corp (LTHM.N) executives told the Reuters Next conference on Wednesday.

As EVs go mainstream, automakers are planning models that can run longer before recharging and handle different weather conditions. Batteries for such EVs typically are made with a type of lithium known as hydroxide that cannot be stored for long periods of time and thus must be made in custom batches. Continue reading “EV industry must work closer with lithium suppliers, executives say”

Dec 1 (Reuters) – San Francisco’s public transit operator has challenged an application by Cruise to charge for robotaxi rides, saying on Wednesday promotional videos from the General Motors Co (GM.N) unit show Cruise passengers illegally hopping in and out of vehicles in the middle of the street instead of at the curb.

The San Francisco Municipal Transportation Agency (SFMTA) said in a 24-page letter that the recent videos from Cruise show the self-driving technology company is allowing unlawful behavior that also endangers people nearby and slows down buses, agency director Jeff Tumlin said. The agency also blasted Cruise’s application for failing to plan service in low-income and minority neighborhoods or to accommodate wheelchairs. Continue reading “San Francisco agency opposes Cruise robotaxi application, citing safety”

DETROIT, Dec 1 (Reuters) – General Motors Co (GM.N) expects full year adjusted pre-tax profits will reach about $14 billion, higher than the previous forecast, the automaker’s Chief Financial Officer Paul Jacobson said during a presentation.

GM had previously forecast full-year adjusted pre-tax profits at $11.5 billion to $13.5 billion. GM shares were up more than 2.5% in mid-afternoon trading following Jacobson’s statement. Continue reading “GM boosts profit outlook as supply chain troubles ease”

Dec 1 (Reuters) – General Motors Co (GM.N) and Ford Motor Co (F.N) are revving up their century old rivalry, this time over which will sell more electric vehicles by 2025.

But with Tesla (TSLA.O) ensconced as the global EV leader and the Volkswagen Group (VOWG_p.DE) mounting a $100 billion-plus challenge, GM and Ford are racing for third place, at best. Continue reading “Ford, GM race to brag ‘We’re Number 3!’ in electric vehicle market”

DETROIT, Nov 30 (Reuters) – Auto industry executives expect electric vehicles will make up just over half of new vehicle sales in the United States and China by 2030, and could do so without receiving government subsidies, according to a new survey by accounting and consulting firm KPMG.

But combustion vehicles, including hybrids, are expected to retain a significant share of most major vehicle markets for years to come, according to KPMG’s latest annual survey of 1,000 auto industry executives. Continue reading “Auto executives expect EVs will own half of U.S., China markets by 2030 – survey”

Nov 30 (Reuters) – An Australian federal court has found that the local unit of Japanese automaker Mazda Motor Corp (7261.T) misled customers over their rights, the country’s competition regulator said on Tuesday.

The Australian Competition and Consumer Commission started court proceedings against Mazda in October 2019 in a case involving seven different Mazda vehicles and 10 customers. Continue reading “Court finds Mazda Australia misled customers on refunds for faulty vehicles”

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”