SHANGHAI, July 8 (Reuters) – Tesla (TSLA.O) in June achieved its highest monthly sales of China-made vehicles since opening its Shanghai plant in 2019, data showed on Friday, as the U.S. carmaker ramped up output which had been hit by the city’s COVID-19 lockdown.

Tesla sold 78,906 China-made vehicles in June, including 968 for export, the China Passenger Car Association(CPCA) said. In May it sold 32,165 vehicles and exported 22,340. Continue reading “Tesla sells record high China-made vehicles in June”

BEIJING, July 7 (Reuters) – China on Thursday announced a raft of new steps to spur consumer demand for cars, saying it would consider extending a tax break for electric vehicles and outlining plans to build more charging stations and encourage lower charging fees.

The plans, announced by the Ministry of Commerce as part of a joint statement with 16 other departments, boosted shares of Chinese automakers, with Geely (0175.HK) surging 6% and Great Wall Motor (601633.SS) rising 4%. Continue reading “China unveils plans to spur car demand, may extend EV tax break”

July 6 (Reuters) – Rivian Automotive Inc (RIVN.O) delivered 4,467 vehicles in the second quarter, nearly four times more than the preceding quarter, as the electric-vehicle maker benefited from a ramp-up in production and strong demand.

The company also said on Wednesday it was on track to meet its annual production target of 25,000 units after output jumped 72% sequentially to 4,401 vehicles in the quarter. Continue reading “EV maker Rivian’s deliveries supercharged by production ramp-up”

MEXICO CITY, July 6 (Reuters) – Mexican used-car platform Kavak is investing $180 million to open offices and make its platform available in four new countries, including Turkey – its first location outside Latin America, the company said Wednesday.

Kavak, which calls itself the largest pre-owned car operation in the world, will enter Colombia, Chile and Peru with a planned investment of $120 million. The company has earmarked $60 million for its expansion to Istanbul, Turkey, Chief Executive Officer Carlos Garcia said. Continue reading “Mexican used-car startup Kavak expands outside Latin America”

July 5 (Reuters) – Tesla Inc (TSLA.O) faces a series of hurdles ranging from production snags to rising inflation that may hit profits, Wall Street analysts said on Tuesday, as the electric-car maker reported a fall in deliveries for the first time in two years.

Stung by China’s COVID-19 lockdowns and soaring costs, Tesla said on Saturday it delivered 254,695 vehicles in the second quarter, down about 18% from the first quarter. Continue reading “Tesla plays ‘whack-a-mole’ with snags as deliveries fall for first time in two years”

SAN FRANCISCO, July 5 (Reuters) – Two laid-off Tesla (TSLA.O) workers filed an emergency motion on Tuesday to stop the electric car maker for allegedly seeking separation agreements for far less severance than legally required.

As part of Tesla’s ongoing layoffs, it has been asking employees to agree to release it of all claims, in exchange for a severance of just one or two weeks’ pay and benefits, the motion filed with a Texas court alleges. Continue reading “Laid-off Tesla workers file emergency plea, allege small severance pay”

HELSINKI, July 5 (Reuters) – Truck maker AB Volvo (VOLVb.ST) had begun laying off some of its Russian staff and to scale down operations, but has not made a decision to leave the country entirely, it said on Tuesday.

The Swedish firm in February suspended all sales, service and production in Russia, which last year accounted for about 3% of its net group sales. Continue reading “Sweden’s AB Volvo begins to lay off some Russian employees”

BERLIN, July 5 (Reuters) – A consortium led by carmaker Volkswagen (VOWG_p.DE) has secured a 93.6% stake in car rental company Europcar (EUCAR.PA), it said on Tuesday, citing French financial authorities.

The move allows Europcar’s new owners to delist it from the Paris stock exchange as planned. Continue reading “Volkswagen-led consortium secures 93.6% of Europcar shares”

SEOUL, July 5 (Reuters) – South Korea’s LG Energy Solution (373220.KS) is on track to supply Japanese commercial vehicle maker Isuzu Motors (7202.T) with an estimated 1 trillion won ($763 million) or more worth of batteries, a South Korean newspaper reported on Tuesday.

LG Energy Solution is working with Isuzu to supply batteries for four years starting next year, starting with an electric vehicle version of the automaker’s bestselling Elf truck, the Korea Economic Daily reported, citing unnamed industry sources. Continue reading “LG Energy Solution to supply batteries to Japan’s Isuzu Motors, newspaper reports”

HONG KONG, July 5 (Reuters) – China Evergrande New Energy Vehicle Group Ltd (0708.HK) said on Tuesday it would start taking pre-orders for its first model, a key milestone for the unit of embattled property developer China Evergrande group (3333.HK).

The start of pre-orders for the sport-utility vehicle comes after Evergrande Chairmen Hui Ka Yan vowed within 10 years to shift the group’s primary business from real estate to the automobile venture, which has itself struggled for capital. Continue reading “Evergrande electric vehicle unit to start taking pre-orders”

SEOUL, July 5 (Reuters) – The union that represents Hyundai Motor Co’s (005380.KS) South Korean workers said on Tuesday it plans to resume a week of wage talks with management on Wednesday, staving off any immediate prospect of a walkout in a protracted industrial dispute.

The talks between the union and the automaker’s management are expected to continue until July 13, according to the union. A deal would allow Hyundai Motor, bracing for a possible economic downturn and grappling with a prolonged global chip shortage, to avoid what would have been its first domestic strike in four years. Continue reading “Hyundai Motor’s S.Korea trade union aims to resume annual wage talks”

TAIPEI, July 5 (Reuters) – Taiwan’s Foxconn (2317.TW), the world’s largest contract electronics maker, raised its full-year business outlook on Monday thanks to strong sales of smartphones and servers despite concerns of slowing demand due to rising inflation.

Like other global manufacturers, the Taiwanese firm has grappled with a severe shortage of chips, which has hurt smartphone production including for its major client Apple (AAPL.O), partly due to COVID-19 lockdowns in China. Continue reading “Taiwan’s Foxconn raises full-year outlook on strong tech demand”

NEW DELHI, July 4 (Reuters) – Tata Motors (TAMO.NS) aims to sell about 50,000 electric vehicles (EVs) in the fiscal year to March 31, and double that in the 2023/24 period, Chairman N Chandrasekaran told a shareholders’ meeting on Monday.

In 2021/22, Tata Motors sold 19,105 EVs, a growth of 353% from the previous fiscal year. Continue reading “Tata Motors aims to sell 50,000 EVs in this fiscal yr”

MILAN, July 4 (Reuters) – A global crunch in semiconductor supply could cost Stellantis (STLA.MI) up to 220,000 vehicles this year in terms of lost output in Italy, the FIM CISL union said, adding this would mark the fifth year in a row of declining production in the country.

FIM CISL said in its periodic report on the group’s production in Italy that Stellantis produced 351,890 vehicles in the first half of this year, almost 14% less than in the same period last year, with the key Melfi plant and the Sevel van-making facility being the most affected sites. Continue reading “Chip crunch to cut Stellantis’ Italy 2022 output by up to 220,000 vehicles -union”

BERLIN, July 4 (Reuters) – Volkswagen (VOWG_p.DE) and Bosch may begin jointly developing automated driving technology, the German cartel office said on Monday, adding that it would continue to monitor the companies’ cooperation.

“It is the task of the cartel office to maintain competition already at the level of research and development, as this is where the foundations for future products and markets are laid,” office head Andreas Mundt said in a statement. Continue reading “German cartel office allows VW, Bosch to start automated driving cooperation”

FRANKFURT, July 3 (Reuters) – Germany’s road traffic agency said it was recalling Tesla (TSLA.O) models Y and 3 because of a fault in the automatic emergency call system that affects 59,000 vehicles globally.

The KBA watchdog said on its website dated June 29 that a software flaw was causing a breakdown of the eCall, which is designed to automatically contact emergency responders in the event of a serious accident. Continue reading “German road traffic agency says 59,000 Tesla vehicles have software glitch”

NEW DELHI, July 1 (Reuters) – China’s Great Wall Motor (601633.SS) has shelved plans to invest $1 billion in India and laid off all employees at its operations there after failing to obtain regulatory approvals, three sources with direct knowledge of the matter said on Friday.

The Chinese automaker has been planning to enter the Indian market since 2020 but now becomes one of the biggest casualties of New Delhi’s increased scrutiny of investments from Beijing. Continue reading “China’s Great Wall Motor shelves $1 bln India plan -sources”

July 1 (Reuters) – General Motors Co (GM.N) surpassed Toyota Motor Corp (7203.T) in second-quarter U.S. car sales, data on Friday showed, even as persistent chip shortages and supply chain disruptions crimped automakers’ ability to meet pent-up demand.

GM, which lost its crown as the U.S. sales leader last year for the first time since 1931 to Toyota, said it sold 582,401 vehicles in the quarter through June, 15% lower than a year earlier. Continue reading “GM outsells Toyota in Q2 as inventory shortages linger”

July 1 (Reuters) – General Motors Co (GM.N) said on Friday it had about 95,000 vehicles in its inventory that were manufactured without certain parts.

The U.S. automaker added its current-quarter vehicle wholesale volumes were hit by the chip shortages and supply chain disruptions. Continue reading “GM has nearly 100,000 vehicles parked at its facilities without some parts”

OSLO, July 1 (Reuters) – Volvo Car Group (VOLCARb.ST) will invest 1.2 billion euros ($1.25 billion) to build an electric vehicle (EV) plant in Slovakia, the Sweden-based automaker said on Friday.

The site, Slovakia’s fifth, will bolster its standing as the biggest car producer per capita in the world, with the central European country of 5.4 million producing more than 1 million cars in 2021. Continue reading “Volvo to create 3,300 jobs at $1.25 billion EV plant in Slovakia”

July 1 (Reuters) – General Motors Co (GM.N) reported a 15% drop in second-quarter auto sales on Friday, as a global chip shortage and supply chain disruptions hit production and left nearly 100,000 vehicles waiting for more parts.

The U.S. auto industry is struggling to keep up with pent-up consumer demand for new cars as it struggles to ramp up production due to the chip shortage, a labor crunch and problems related to supply chain logjams. Continue reading “GM vehicle sales tumble 15% as chip crunch, supply snags drag”

SEOUL, July 1 (Reuters) – Hyundai Motor Co’s (005380.KS) unionised workers in South Korea voted for a possible strike for the first time in four years over demands for higher wages and anger that management was prioritising overseas investment.

The union, one of the biggest in the country with more than 46,000 members, said on Friday that 81.63% of its voting union members had approved strike action unless the company accept their demands. Continue reading “Hyundai Motor’s union in S.Korea votes to strike after stalled negotiations”

MILAN, July 1 (Reuters) – Italian supercar brand Lamborghini plans to invest at least 1.8 billion euros ($1.88 billion) to produce a hybrid lineup by 2024 and more to bring out its fully electric model by the end of the decade, Chief Executive Stephan Winkelmann told Il Sole 24 Ore.

Lamborghini, part of the Volkswagen Group (VOWG_p.DE), said last year it would invest 1.5 billion euros to shift its current models – the Huracan and Aventador sports cars, and the Urus sport utility – to hybrid gasoline-electric powertrains by the end of 2024. Continue reading “Lamborghini to invest at least 1.8 billion euros in path towards electrification”

June 30 (Reuters) – Apple Inc (AAPL.O) wants you to start buying gas directly from your car dashboard as early as this fall, when the newest version of its CarPlay software rolls out, accelerating the company’s push to turn your vehicle into a store for goods and services.

A new feature quietly unveiled at Apple’s developer conference this month will allow CarPlay users to tap an app to navigate to a pump and buy gas straight from a screen in the car, skipping the usual process of inserting or tapping a credit card. Details of Apple’s demo for developers have not previously been reported. Continue reading “Apple eyes fuel purchases from dashboard as it revs up car software”