June 15 (Reuters) – General Motors (GM.N) will invest $81 million to build its future Cadillac Celestiq electric flagship sedan at GM’s Warren Technical Center, the company said on Wednesday.

The Celestiq, which will share battery cells, motors and other components with the Cadillac Lyriq, is slated to begin production in the Detroit suburb in late 2023, according to AutoForecast Solutions. Continue reading “GM invests $81 mln to build Cadillac Celestiq EV flagship in Michigan”

SEOUL, June 15 (Reuters) – South Korea’s unionised truckers drove a strong bargain with their largely peaceful strike action proving effective without antagonising a public largely unsympathetic towards unions after years of militant action.

But the group of ageing drivers are often seen as outliers in the country’s combative and politicised industrial landscape and their success may not be a harbinger of any wider labour market peace, experts say. Continue reading “Analysis: S.Korea truckers’ win no harbinger of labour market peace”

OTTAWA, June 14 (Reuters) – Canada’s minister of natural resources on Tuesday said U.S. Senator Joe Manchin, a key Democrat, would likely block the passage of tax credits that favor U.S.-manufactured electric vehicles (EVs) and are opposed by Ottawa.

Last year, many Democrats in Congress and President Joe Biden proposed boosting EV tax credits to up to $12,500 – including a $4,500 incentive for union-made, U.S.-assembled vehicles and $500 for U.S.-made batteries. The base $7,500 credit would be limited to only U.S. made vehicles starting in 2027. Continue reading “U.S. Senator likely would block passage of EV tax credits – Canada minister”

SEOUL, June 15 (Reuters) – South Korea’s unionised truckers headed back on the roads on Wednesday after the union and the transport ministry reached a tentative late-night agreement, ending a nationwide strike that crippled ports and industrial hubs.

The transport ministry and truckers union agreed on late Tuesday to extend the truckers’ minimum freight rates and continue discussing expanding a guarantee of minimum pay for carrying cargo to cover additional products. The transport ministry will also review expanding fuel subsidies. Continue reading “South Korea truckers return to work after strike deal; shares rally”

BERLIN, June 15 (Reuters) – Volkswagen-led (VOWG_p.DE) consortium Green Mobility Holdings has acquired 87.38% of France’s Europcar (EUCAR.PA), enough to give it control over the car rental group but below its targeted 90% threshold, Volkswagen said on Wednesday.

Shareholders have the option to tender their stock until June 29, the carmaker said. Continue reading “Volkswagen-led consortium obtains 87.38% of Europcar shares in takeover bid”

TOKYO, June 15 (Reuters) – For decades, Japan’s powerful automakers had a playbook to deal with deflation: press suppliers for lower prices on everything from seat belts to wire harnesses and promise volume.

Now, with inflation biting around the world, Toyota Motor Corp (7203.T), Nissan Motor Corp (7201.T) and others are shouldering more of the burden of soaring raw materials prices, or extending other help to hard-hit parts makers, executives say. Continue reading “As yen tumbles, Japan’s automakers take cost burden off their suppliers”

LONDON, June 15 (Reuters) – Private capital has a keen eye on British bus companies.

Low valuations, hopes that travellers will ditch cars, and government incentives to invest in environmentally-friendly vehicles are enticing buyers, analysts and investors said. Continue reading “Analysis: Golden age of buses? Buyers hop on UK transport firms”

TOYOTA, Japan, June 15 (Reuters) – Toyota Motor Corp (7203.T) pushed back against critics who say it has been slow to embrace battery electric vehicles (BEV), arguing it needed to offer a variety of car choices to suit different markets and customers.

At its annual general meeting on Wednesday, the world’s largest automaker by sales doubled down on its position that it would stick with technologies including fuel cell vehicles and hybrids that have for the past two decades made it a leader in cleaner cars. Continue reading “Toyota says consumer choice dictates pace of electrification”

WASHINGTON, June 15 (Reuters) – Ford Motor Co (F.N) is recalling more than 3.3 million vehicles in North America that could roll away because a damaged or missing part may prevent the vehicle from shifting into the intended gear.

In a filing with the National Highway Traffic Safety Administration (NHTSA), Ford said Wednesday the recall covers various 2013-2019 Escape, 2013-2018 C-Max, 2013-2016 Fusion, 2013-2021 Transit Connect and 2015-2018 Edge vehicles, the agency said in a notice on Wednesday. Continue reading “Ford recalls 3.3 million vehicles over rollaway concerns”

June (Reuters) – U.S. commercial electric vehicle maker Electric Last Mile Solutions Inc (ELMS) (ELMS.O) said on Sunday it is planning to file for Chapter 7 bankruptcy, after a review of its products and commercialization plans.

The move comes after the Troy, Michigan-based company disclosed a probe by the U.S. Securities and Exchange Commission and withdrew all its previously issued business outlook in March. Continue reading “EV maker Electric Last Mile Solutions files for bankruptcy”

DETROIT, June (Reuters) – General Motors Co (GM.N) Chief Executive Mary Barra said on Monday the automaker is “selling every truck we can build” and expanding North American truck-building capacity, even as U.S. gasoline prices hit record highs.

Barra made her comments during the automaker’s annual shareholder meeting. Continue reading “GM CEO says ‘we are selling every truck we can build’”

NEW DELHI, June (Reuters) – A key executive who was leading Tesla’s lobbying effort in India has resigned, weeks after the U.S. carmaker put on hold plans to sell electric cars in the South Asian nation, two sources aware of the matter told Reuters.

Manuj Khurana, policy and business development executive at Tesla in India, was hired in March 2021 and played a key role in forming a domestic market-entry plan for the U.S. carmaker in the country. Continue reading “Tesla India policy executive quits after company puts entry plan on hold”

UIWANG, South Korea, June 14 (Reuters) – South Korea’s unionised truckers and the transport ministry reached a tentative agreement on Tuesday on minimum pay guarantees in a late night deal ending a nationwide strike that crippled ports and industrial hubs, the two parties said.

The eight-day strike has delayed cargo shipments for industries from autos to petrochemicals and spirits in the export-heavy nation, and cost South Korea’s industry more than $1.2 billion in lost output and unfilled deliveries, according to the industry ministry.  Continue reading “S.Korea truckers end strike; gov’t agrees to extend pay guarantee”

TOKYO, June (Reuters) – Toyota Motor Corp (7203.T) heads into its annual general meeting on Wednesday under fire from New York City and Danish pension funds over its commitment to battery vehicles and lobbying on climate policy.

Once a darling of environmentalists for the hybrid Prius model it popularised more than two decades ago, the Japanese automaker has more recently drawn criticism from green investors who say it has been slow to embrace battery vehicles. Continue reading “Toyota heads into AGM under pressure from pension funds over climate”

BOSTON, June (Reuters) – Massachusetts’ top court on Tuesday rejected a bid to ask voters whether app-based ride-share and delivery drivers should be treated as independent contractors rather than employees, in a setback for companies like Uber Technologies Inc (UBER.N) and Lyft Inc(LYFT.O).

The Massachusetts Supreme Judicial Court’s unanimous decision was a victory for labor activists who fought to prevent a measure from appearing on the November ballot that they said contained loopholes that would create a sub-minimum wage for the drivers. Continue reading “Massachusetts court blocks gig worker ballot measure backed by Uber, Lyft”

June 12 (Reuters) – U.S. commercial electric vehicle maker Electric Last Mile Solutions Inc (ELMS) (ELMS.O) said on Sunday it is planning to file for Chapter 7 bankruptcy, after a review of its products and commercialization plans.

The move comes after the Troy, Michigan-based company disclosed a probe by the U.S. Securities and Exchange Commission and withdrew all its previously issued business outlook in March. Continue reading “EV maker Electric Last Mile Solutions files for bankruptcy”

SEOUL, June 13 (Reuters) – South Korean industries, including auto, steel, petrochemical and cement, face accumulated losses worth about 1.6 trillion won ($1.24 billion) as of Sunday due to the ongoing trucker strike, the country’s industry ministry said on Monday.

The industry ministry said in a statement the estimated 1.6 trillion won was based on losses in production, shipment and exports. Continue reading “South Korean industries face losses worth $1.2 billion due to trucker strike, industry ministry says”

TOKYO, June 13 (Reuters) – Shares of Toyota Motor Corp (7203.T) opened down more than 2% on Monday after media reports citing criticism from European pension funds of the automaker for what they said were lobbying efforts that went against climate regulation for the industry.

Toyota, the world’ top automaker, is holding its annual shareholders meeting on Wednesday. Continue reading “Toyota shares fall over 2% after criticism from green activist investors”

WASHINGTON, June 9 (Reuters) – The U.S. Transportation Department (USDOT) on Thursday proposed minimum standards and requirements for electric vehicle (EV) charging projects funded under a $5 billion government program.

The rules would require government-funded EV charging stations use DC Fast Chargers and have at least four ports capable of simultaneously charging four EVs and each must be at or above 150 kW. It would also bar charging stations from requiring a memberships to use them. Continue reading “U.S. proposes standards for fast electric vehicle charging projects”

TOKYO, June 10 (Reuters) – Japanese Prime Minister Fumio Kishida is planning to visit Toyota Motor Corp’s (7203.T) headquarters as early as next week, two people familiar with the matter said, highlighting his push for higher wages ahead of next month’s upper house elections.

Toyota, Japan’s largest and most valuable company, proposed the visit to Toyota city in central Japan, according to the people, who spoke on condition of anonymity. Continue reading “Japan PM to visit Toyota headquarters ahead of election, sources say”

June 10 (Reuters) – Russia’s Industry Ministry expects car sales to halve in 2022 as the country’s automobile industry grapples with supply issues, a senior official said.

“We saw a sharp fall (in car sales) in April and May,” Tigran Parsadanyan, deputy head of the ministry’s automotive and railway engineering department, said on Thursday. Continue reading “Russia forecasts car sales to halve in 2022 – ministry”

ULSAN, South Korea, June 11 (Reuters) – A huge Hyundai Motor Co (005380.KS) factory complex added weekend production on Saturday, despite a nationwide strike by truckers that has hit ports and other South Korean industrial giants, including steelmaker POSCO (005490.KS).

On day five of the strike, some 100 unionised truckers, about a tenth of Friday’s show of force, assembled at the main gate of the Hyundai factory in the southern city of Ulsan, protesting soaring fuel prices and demanding higher freight rates to cover costs. Continue reading “Hyundai Motor plants in extra weekend run, South Korea truckers’ strike continues”

ULSAN, South Korea, June 10 (Reuters) – Defiant South Korean truckers embarked on broader and more aggressive strike action on Friday, threatening to severely curtail deliveries of raw materials for semiconductors and petrochemical products.

Entering its fourth day, the strike protesting soaring fuel costs halved production at Hyundai Motor Co’s (005380.KS) biggest factory complex on Thursday and has disrupted shipments for a range of companies including steelmaking giant POSCO (005490.KS). Continue reading “Striking South Korean truckers target chips, put brakes on port activity”

BRUSSELS, June 8 (Reuters) – European Parliament lawmakers on Wednesday voted to support an effective EU ban on the sale of new petrol and diesel cars from 2035, rejecting attempts to weaken the proposal to speed Europe’s shift to electric vehicles.

The vote upholds a key pillar of the European Union’s plans to cut net planet-warming emissions 55% by 2030, from 1990 levels – a target that requires faster emissions reductions from industry, energy and transport. Continue reading “EU lawmakers back ban on new fossil-fuel cars from 2035”

June 9 (Reuters) – Volkswagen (VOWG_p.DE) is offering pay-offs to its employees at a car assembly plant in Nizhny Novgorod, Russia, if they agree to quit voluntarily, the carmaker said on Thursday.

The offer of financial compensation and medical insurance until the end of 2022 was available to the around 200 people working at the Nizhny Novgorod plant, a Volkswagen spokesperson said, confirming an earlier report by Kommersant paper. Continue reading “Volkswagen offers pay-offs for employees who quit major Russia plant”

WASHINGTON, June 9 (Reuters) – The U.S. Transportation Department (USDOT) is on Thursday proposing minimum standards and requirements for electric vehicle (EV) charging projects funded under a $5 billion government program.

“Everyone should be able to count on fast charging, fair pricing and easy-to-use payment,” Transportation Secretary Pete Buttigieg said. Continue reading “U.S. to propose standards for government funded EV charging projects”

BARCELONA, June 8 (Reuters) – Volkswagen’s (VOWG_p.DE) Spanish brand CUPRA will launch three electric models by 2025, including what would be its first fully electric vehicle to be made in Spain, CUPRA said on Tuesday.

Volkswagen delivered 452,000 all-electric vehicles last year and is aiming for half of its global output to be all-electric by 2030. The German carmaker has earmarked 159 billion euros ($170 billion) over the next five years for investment in electrification, far more than rivals. Continue reading “VW’s CUPRA to launch three electric models by 2025”

HONG KONG, June 8 (Reuters) – China’s Didi is in talks with state-backed Sinomach Automobile (600335.SS) to buy a third of its electric-vehicle unit, two sources said, signalling the ride-hailer’s regulatory troubles are in the rear view mirror as it focuses on growth.

The deal, if completed, would accelerate Didi Global Inc’s strategic expansion in the world’s largest EV market and help cushion the impact of the pandemic on its core ride-hailing business. Continue reading “EXCLUSIVE Didi pursues EV stake as it aims to emerge from regulatory shadows-sources”

BEIJING, June 9 (Reuters) – China’s exports grew at a double-digit pace in May, shattering expectations in an encouraging sign for the world’s second biggest economy, as factories restarted and logistics snags eased after authorities relaxed some COVID curbs in Shanghai.

Imports also expanded for the first time in three months, providing welcome relief to Chinese policy makers as they try to chart an economic path out of the supply-side shock that has rocked global trade and financial markets in recent months. Continue reading “China’s exports surge on easing COVID curbs, trade outlook still fragile”

WASHINGTON, June 9 (Reuters) – The U.S. auto safety agency and Goodyear Tire & Rubber (GT.O) sparred for months over whether the Ohio-based company should recall tires used on motor homes that have not been produced in nearly two decades.

Under pressure from the National Highway Traffic Safety Administration (NHTSA), Goodyear on Tuesday said it would recall 173,000 G159 tires size 275/70R22.5. tires used on recreational vehicles because of the potential of catastrophic tread separations. Continue reading “Goodyear, U.S. auto safety agency sparred over tire issue”

June 7 (Reuters) – A federal judge on Tuesday gave a Black former elevator operator at Tesla Inc (TSLA.O) two weeks to decide whether to accept $15 million in damages over racial abuse at the electric car company, far below the $137 million a jury had awarded.

U.S. District Judge William Orrick in San Francisco said Owen Diaz identified no controlling question of law to justify an immediate appeal of the reduced award, which includes $1.5 million of compensatory damages and $13.5 million of punitive damages. Continue reading “Judge gives former Tesla worker a deadline to accept $15 mln payout over racism”

SHANGHAI, June 8 (Reuters) – China’s BYD is preparing to supply Tesla Inc (TSLA.O) with batteries “very soon”, a senior company executive told a state media anchor in a video released early on Wednesday.

“We are now good friends with Elon Musk because we are preparing to supply batteries to Tesla very soon,” said Lian Yubo, BYD’s executive vice president in an interview with Kui Yingchun, an anchor with China’s state-owned broadcaster CGTN. Continue reading “BYD executive says it will supply batteries to Tesla ‘very soon’”

JAKARTA, June 8 (Reuters) – South Korea’s LG Energy Solution (LGES) on Wednesday broke ground on nickel processing plants in Indonesia, part of the company’s $9.8 billion investment in the country to produce electric vehicle batteries.

The company will build a $3.5 billion smelter with the capacity to produce 150,000 tonnes of nickel sulfate per year, LGES officials told Indonesian President Joko Widodo at a ceremony in Batang industrial park in Central Java, which was broadcast live, Continue reading “S.Korea’s LG Energy Solution launches nickel processing plants in Indonesia”

WASHINGTON, June 7 (Reuters) – Goodyear (GT.O) said on Tuesday it would recall 173,000 G159 tires used on recreational vehicles because of the potential of catastrophic tread separations and after U.S. auto safety regulators formally asked the manufacturer to replace them.

The National Highway Traffic Safety Administration (NHTSA) opened a preliminary investigation in 2017 to review allegations raised in a lawsuit that some tires had defects causing motor home crashes resulting in deaths and injuries. Continue reading “Goodyear to recall 173,000 tires after pressure from U.S. regulators”

June 7 (Reuters) – Tesla Inc (TSLA.O) on Tuesday accused a California civil rights agency of rushing to sue businesses without conducting proper investigations, an attempt to go on the offensive as the electric car maker faces claims of widespread race bias at an assembly plant.

Tesla in a 10-page complaint told California’s Office of Administrative Law (OAL) that the state Department of Fair Employment and Housing (DFEH) has adopted “underground regulations” that flout requirements it must meet before suing employers. Continue reading “Tesla attacks California agency for filing race bias lawsuit”

WASHINGTON, June 7 (Reuters) – Five automakers including Ford Motor Co (F.N), Volkswagen AG (VOWG_p.DE) and Honda Motor Co (7267.T) on Tuesday backed efforts by President Joe Biden’s administration to restore California’s ability to set its own strict tailpipe and zero-emission vehicle standards.

Joined by BMW AG (BMWG.DE) and Volvo Cars, the automakers in a court filing backed the U.S. Environmental Protection Agency’s (EPA) decision to restore the authority that was withdrawn under former President Donald Trump. Continue reading “Automakers back U.S. restoring California emissions authority”

MEXICO CITY/WASHINGTON June 7 (Reuters) – The United States has asked Mexico to probe alleged worker rights violations at an auto-parts plant owned by Italian-French carmaker Stellantis, the fourth such complaint under a revised trade deal, U.S. officials said on Monday.

The U.S. request for Mexico to examine possible abuses at Teksid Hierro de Mexico in the northern border state of Coahuila comes under the 2020 United States-Mexico-Canada Agreement (USMCA). Continue reading “U.S. asks Mexico to probe whether Stellantis parts plant abused labor rights”

June 6 (Reuters) – Apple Inc (AAPL.O) on Monday announced significant updates to CarPlay at the Worldwide Developers Conference event, as the company looks to upgrade it from an infotainment system to a software solution that will allow drivers to control parts of their car and show more information such as speed and fuel level.

The iPhone maker said it is talking to several automakers to bring the new generation of the software to their cars, which will be announced from late 2023. Continue reading “Factbox: Apple’s next-gen CarPlay with widgets, greater integration”