LONDON, Oct 12 (Reuters) – BYD (002594.SZ) on Wednesday received a coveted five-star Euro NCAP safety rating for its electric ATTO 3 crossover SUV, the latest Chinese carmaker to receive top marks as it seeks to gain a foothold in Europe’s competitive car market.
Two other Chinese-made cars – the eCitroënC5 X, Continue reading “China’s BYD wins five-star European safety rating for electric SUV”
BERLIN, Oct 12 (Reuters) – Mercedes-Benz (MBGn.DE) and Microsoft (MSFT.O) announced a partnership on Wednesday using Microsoft Cloud for a data platform intended to improve production efficiency at over 30 passenger car plants globally, the carmaker said on Wednesday.
The data platform, called MO360, is already available in Europe, the Middle East and Africa and will also be launched in the United States and China, the statement said. Continue reading “Mercedes-Benz and Microsoft collaborate on supply chain data platform”
TOKYO, Oct 12 (Reuters) – Toyota Motor Corp (7203.T) said on Wednesday it had begun assembling cars at a new plant in Myanmar that was put on hold for more than 19 months after a military coup and during the coronavirus pandemic.
The Japanese automaker said the plant, which is opening even as other companies have pulled out of the country, had begun to assemble one or two Hilux trucks per day, working from parts kits shipped to Myanmar in September. Continue reading “Toyota opens new Myanmar plant put on hold following coup”
WASHINGTON, Oct 11 (Reuters) – General Motors Co (GM.N) said on Tuesday it will invest up to $69 million and take an equity stake in Queensland Pacific Metals (QPM.AX) to secure a new source of nickel and cobalt for battery cells for use in the U.S. automaker’s vehicles.
GM said the investment will help support electric-vehicle eligibility for consumer incentives under new, clean energy U.S. tax credits. GM said the nickel laterite ore is expected to be processed using a new, proprietary process that helps reduce waste. Continue reading “GM to take equity stake in Australian mining company”
NEW YORK, Oct 11 (Reuters) – Authorities found children as young as 13 working at a Korean-operated parts supplier to automakers Hyundai Motor Co (005380.KS) and Kia Corp (000270.KS), and have fined the company and a labor recruiter, the U.S. Department of Labor and the Alabama Department of Labor said on Tuesday.
In August, authorities accused Alexander City, Alabama-based SL Alabama in federal court of violating child labor laws. Continue reading “Hyundai, Kia auto parts supplier in Alabama fined for child labor violations”
Oct 11 (Reuters) – Shares of Uber Inc (UBER.N), Lyft Inc (LYFT.O) and Doordash Inc (DASH.N) fell about 10% on Tuesday on fears that a U.S. proposal to deter companies from treating workers as independent contractors would raise costs for the barely profitable firms.
The U.S. Labor Department’s proposal will require workers to be considered a company’s employees – who are entitled to more benefits and legal protections than contractors – when they are “economically dependent” on the company. Continue reading “Uber, Lyft slump as U.S. proposal on workers a potential blow to gig economy”
MILAN, Oct 11 (Reuters) – Stellantis (STLA.MI) will look to upgrade its medium-term target for the minimum percentage of recycled material in its vehicles from 35%, the carmaker’s Senior Vice President Global Circular Economy Alison Jones said on Tuesday.
In its business plan, Stellantis has set a goal to boost revenues of its recycling business ten-fold to over 2 billion euros ($1.9 billion) by 2030. It also aims to quadruple revenues from extended-life parts and services. Continue reading “Stellantis aims to boost recycled material content in vehicles”
WASHINGTON, Oct 11 (Reuters) – Honda Motor Co Ltd (7267.T) and LG Energy Solution (373220.KS) on Tuesday announced Ohio as the site of their planned $4.4 billion joint-venture battery plant.
The two companies had announced the plan in August but had not settled on a U.S. location. They said on Tuesday they are initially committing to investing $3.5 billion and creating 2,200 jobs but said the overall investment is projected to reach $4.4 billion. Continue reading “Honda to build JV U.S. battery plant, retool Ohio plants”
Oct 11 (Reuters) – Ride-hailing firm Lyft Inc (LYFT.O) said on Tuesday it was testing an earnings algorithm that will allow drivers in 18 U.S. cities to see destination and pay details before accepting a request.
The test follows a similar move by bigger rival Uber Technologies Inc (UBER.N) and underlines how the companies are going the extra mile to fix driver shortages to take advantage of a demand surge brought on by a return to office and travel since the pandemic. Continue reading “Lyft testing new pay algorithm to lure drivers”
LONDON, Oct 11 (Reuters) – Auto forecaster S&P Global Mobility warned on Tuesday that, under a worst case scenario, Europe’s energy crisis could cut its car production by close to 40%, or more than 1 million vehicles, per quarter through the end of 2023.
In a report titled ‘Winter is Coming,’ S&P Global Mobility said the auto industry’s supply chain – already reeling from the COVID-19 pandemic and Russia’s invasion of Ukraine – “may face extensive pressure” from soaring energy costs or even power cuts. Continue reading “Energy crisis could cut Europe’s car output nearly 40% – S&P Global Mobility”
DETROIT, Oct 11 (Reuters) – General Motors Co (GM.N) is expanding beyond car making, with plans to offer energy storage and management services to residential and commercial customers through its new GM Energy unit in a move that puts it in even greater competition with Tesla Inc (TSLA.O).
GM Energy will bundle the existing Ultium Charge 360 public charging service with two new units, Ultium Home and Ultium Commercial, that will offer stationary storage batteries, as well as solar panels and hydrogen fuel cells, the company said on Tuesday. Continue reading “GM takes on Tesla in home and commercial energy storage, management”
WOLFSBURG, Oct 11 (Reuters) – Volkswagen (VOWG_p.DE) is looking at automating 20-30% of production at its upcoming Trinity plant near its Wolfsburg headquarters, the plant’s chief production officer said on Tuesday.
“Assembly is still 90% manual work,” Sebastian Schmickartz said at a suppliers summit in Wolfsburg. “This is what we want to change with the new factory. We are looking at 20-30% automation.” Continue reading “Volkswagen targeting 20-30% automation at new electric vehicle plant”
TOKYO, Oct 11 (Reuters) – Nissan Motor Co Ltd (7201.T) will hand over its business in Russia to a state-owned entity for 1 euro ($0.97), it said on Tuesday, taking a loss of around $687 million in the latest costly exit from the country by a global company.
The Japanese automaker transfer its shares in Nissan Manufacturing Russia LLC to state-owned NAMI, it said. The deal will give Nissan the right to buy back the business within six years, Russia’s industry and trade ministry said. Continue reading “Nissan takes $687 mln loss as sells Russian business for 1 euro”
NEW DELHI, Oct 11 (Reuters) – Warren Buffet-backed Chinese electric carmaker BYD (002594.SZ) launched its first passenger car in India on Tuesday, an electric sport-utility vehicle (SUV), marking its entry into the mainstream market amid a broader global expansion.
BYD launched the Atto 3 electric SUV, fitted with its renowned Blade battery technology, with a plan to corner 40% of the country’s electric car market by 2030. Continue reading “Buffet-backed BYD taps India as latest market amid global push”
SEOUL, Oct 11 (Reuters) – Renault (RENA.PA) Chief Executive Luca De Meo said on Tuesday the automaker was looking to find a partner for a carve-out of its combustion-engine business that would bring scale and drive down costs on technology, including hybrids.
De Meo was answering a question about Renault’s discussions with Geely Automobile (0175.HK) after touring a factory in South Korea that Renault has been running in a joint-venture with Geely since earlier this year. Continue reading “Renault CEO seeks partner on hybrids to bring scale, cut costs”
WASHINGTON, Oct 11 (Reuters) – Drivers using advanced driver assistance systems like Tesla (TSLA.O) Autopilot or General Motors (GM.N) Super Cruise often treat their vehicles as fully self-driving despite warnings, a new study has found.
The Insurance Institute for Highway Safety (IIHS), an industry funded group that prods automakers to make safer vehicles, said on Tuesday a survey found regular users of Super Cruise, Nissan/Infiniti (7201.T) ProPILOT Assist and Tesla Autopilot “said they were more likely to perform non-driving-related activities like eating or texting while using their partial automation systems than while driving unassisted.” Continue reading “Many U.S. drivers treat partially automated cars as self-driving – study”
SHANGHAI, Oct 11 (Reuters) – CATL (300750.SZ), a Chinese electric vehicle (EV) battery giant, forecast its net profit in the July-September quarter to nearly triple from a year-ago period, buoyed by rapid expansion in production to power the growth of EVs worldwide.
The company is the world’s biggest battery maker and accounts for more than a third of global EV battery sales. Continue reading “Chinese EV battery maker CATL expects Q3 profit to nearly triple”
NEW YORK, Oct 10 (Reuters) – Tech firm Honeywell International Inc (HON.O) will roll out technology that could increase supplies of lower-carbon aviation fuel produced from ethanol, the company said on Monday, as the Biden administration calls for the aviation industry to reduce emissions.
Honeywell’s technology can increase production efficiency of sustainable aviation fuel (SAF) to lower costs. The airline sector is considered one of the most difficult to decarbonize as fuel cannot be easily replaced with other kinds of power. Oil refiners have been trying to increase production of SAF to try to lower emissions. Continue reading “Honeywell announces new ethanol-to-jet fuel technology”
PARIS, Oct 10 (Reuters) – French carmaker Renault (RENA.PA) and its Japanese partner Nissan (7201.T) said on Monday they were in talks about the future of their alliance, confirming media reports over the weekend.
The partnership was founded in 1999 and long dominated by former Renault and Nissan top executive Carlos Ghosn. Continue reading “From boom to bottom: Renault, Nissan in talks that could reshape alliance”
Oct 10 (Reuters) – Rising demand for electric vehicles (EV) around the world is encouraging automakers such as Tesla Inc (TSLA.O), Volkswagen (VOWG_p.DE) and Stellantis NV (STLA.MI) to step up efforts to secure raw materials needed for making batteries.
Following are some of the deals major automakers have announced with suppliers and miners: Continue reading “Factbox: Automakers accelerate drive to secure battery raw materials”
MILAN/ROME, Oct 10 (Reuters) – Italian unions on Monday demanded a wage rise of 8.4% for next year to offset rising inflation as they prepare for official talks with industrial groups Stellantis (STLA.MI), Ferrari (RACE.MI), Iveco (IVG.MI) and CNH Industrial (CNHI.MI).
The request could pave the way for similar requests in wage bargaining in Italy, while companies across all Europe from airlines to retailers face demands from workers for major pay rises to cushion the impact of soaring prices. Continue reading “Italy unions seek Stellantis, Ferrari wage rise of over 8% for 2023”
PARIS, Oct 10 (Reuters) – Renault (RENA.PA) plans to build a network of charging stations for electric cars along motorways across Europe, the French carmaker’s e-mobility services unit said on Monday.
The first charging station will open in a few months in southern France, with 200 more planned to follow by mid-2024 in France, Belgium, Italy and Spain, Mobilize said, adding it was in advanced talks with potential partners to finance the network. Continue reading “Renault plans network of EV charging stations along European motorways”
BENGALURU, Oct 10 (Reuters) – Shares of India’s Tata Motors Ltd (TAMO.NS) fell as much as 4.6% on Monday after the automaker reported lower-than-expected wholesale volumes for its Jaguar Land Rover business, prompting brokerage J.P. Morgan to downgrade the stock over the weekend.
Tata Motors late on Friday said its Jaguar Land Rover wholesale volumes – excluding its joint venture in China – were 75,307 for the second quarter, while it had in August, projected wholesale volumes to be around 90,000. Continue reading “India’s Tata Motors shares fall 5% as Jaguar Land Rover wholesale volumes disappoint”
PARIS, Oct 10 (Reuters) – Stellantis (STLA.MI) announced it had signed a non-binding agreement with GME (GME.AX) to secure raw material supplies, including nickel and cobalt sulphate, needed to produce electric vehicle batteries.
The memorandum with the GME mining company “represents the first step toward a potential long-term partnership,” Stellantis said in a statement, as carmakers around the globe race to secure natural resources needed to go green. Continue reading “Carmaker Stellantis strikes nickel and cobalt supply deal for battery production”
LONDON, Oct 10 (Reuters) – Amazon.com Inc (AMZN.O) said on Monday it will invest more than 1 billion euros ($974.8 million) over the next five years in electric vans, trucks and low-emission package hubs across Europe, accelerating its drive to achieve net-zero carbon.
The retailer said the investment was also aimed at spurring innovation across the transportation industry and encouraging more public charging infrastructure for electric vehicles (EVs). Continue reading “Amazon.com to invest over 1 billion euros in European electric van, truck fleet”
Oct 9 (Reuters) – Tesla Inc (TSLA.O) delivered 83,135 China-made electric vehicles (EVs) in September, smashing its monthly record, according to a report released on Sunday by the China Passenger Car Association (CPCA).
The number marks an 8% increase from August and set a record for Tesla’s Shanghai factory since production began in December 2019, topping the prior deliveries high of 78,906 in June, as the U.S. car maker continues to invest in production in China. Continue reading “Tesla’s China-made sales hit record following Shanghai factory upgrade”
Oct 8 (Reuters) – Nissan Motor Co Ltd (7201.T) is pressing French partner Renault SA (RENA.PA) to cut its stake in the Japanese automaker as much as possible, ideally to 15%, and may consider raising funds to buy back the shares, a source familiar with the matter said.
The demands were made in exchange for Nissan agreeing to invest in Renault’s new unit being set up to house its electric vehicle (EV) assets, said the source, who sought anonymity as the talks are not public. Continue reading “Nissan pushes partner Renault to sell down stake, may raise funds -source”
Oct 7 (Reuters) – Nissan Motor Co Ltd (7201.T) is pressing partner Renault SA (RENA.PA) to cut its stake in the Japanese automaker and revamp their more than 20-year-old alliance, the Wall Street Journal said on Friday, citing people with knowledge of the talks.
French car firm Renault owns about 43% of Nissan, while the Japanese firm owns 15% of its top shareholder, but without voting rights. Continue reading “Nissan presses partner Renault to sell down stake, Wall Street Journal reports”
Oct 7 (Reuters) – Rivian Automotive Inc (RIVN.O) said on Friday it will recall nearly all of its vehicles due to a possible issue of loose fastener that could make a driver lose steering control.
California-based Rivian is recalling about 13,000 vehicles after it discovered that a fastener connecting the front upper control arm and steering knuckle may not have been “sufficiently torqued” in some vehicles, a company spokesperson said in a statement. Continue reading “Rivian recalls 13,000 vehicles due to possible loose fastener”
WASHINGTON, Oct 7 (Reuters) – The U.S. auto safety agency said Friday it was closing an investigation it opened in 2017 into the safety of some Goodyear (GT.O) tires used on motor homes that have not been produced in nearly two decades.
Goodyear Tire & Rubber in June said it would recall 173,000 G159 tires size 275/70R22.5 tires used on recreational vehicles because of the potential for catastrophic tread separations. Continue reading “U.S. auto safety agency closes probe into Goodyear tires”
NEW DELHI, Oct 7 (Reuters) – India’s Hero MotoCorp (HROM.NS). the world’s biggest motorcycle maker by sales, launched its first electric scooter worldwide on Friday as it looks to catch up with newer businesses that have taken the lead in the shift to cleaner transport.
Like some other legacy automakers in India, Hero has been a laggard in launching electric two-wheelers, giving startups such as Ather Energy, which is backed by Tiger Global, and Softbank Group-backed Ola Electric a first-mover advantage. Continue reading “India’s top bikemaker Hero launches e-scooter to chase startups”
TOKYO, Oct 7 (Reuters) – Toyota Motor Corp’s truck- and bus-making unit Hino Motors said on Friday four officials would step down and it would demand the return of some compensation from past managers, following an engine data scandal.
Three executives overseeing production and compliance and a senior official in charge of technology development would resign, Hino said in a statement. Continue reading “Four resign over scandal at Toyota unit Hino, others to return pay”
NEW DELHI, Oct 7 (Reuters) – Indian car makers have proposed cutting to 30% the tax rate on imported cars as part of a trade deal with Britain, sources told Reuters, an unprecedented move that could ease access to one of the world’s most protected automobile markets.
BERLIN, Oct 7 (Reuters) – The European Union’s car market is on track to shrink this year, the European Automobile Manufacturers Association (ACEA) said on Friday, forecasting a 1% dip to 9.6 million units in a downward revision from an initial projection for a return to growth.
“Compared to the 2019 pre-pandemic figures, this represents a drop of 26% in car sales in the space of just three years,” the ACEA said in a statement, with reference to the updated forecast for 9.6 million units this year. Continue reading “European car market to contract 1% in 2022, ACEA forecasts”
TOKYO, Oct 6 (Reuters) – Toyota Motor Corp said it would restart production of its first electric vehicle, the bZ4X, on Thursday after fixing potential safety problems that had halted sales of the new battery-powered model for more than three months.
Japan’s largest automaker, a laggard in the EV market, recalled 2,700 bZ4Xs globally in June after discovering that there was a risk the car’s wheels could come loose. Continue reading “Toyota restarts output of first EV after fixing safety issues”
BERLIN, Oct 6 (Reuters) – Porsche took pole position as Europe’s most valuable automaker on Thursday, overtaking former parent Volkswagen (VOWG_p.DE) as the price of the sportscar maker’s newly-listed shares sped higher.
Although Porsche shares had fallen below its listing price on Monday to 81 euros, in line with a wider fall in markets, they rose to 93 euros ($91.95) earlier on Thursday, giving the sportscar brand a market valuation of 85 billion euros. Continue reading “Porsche overtakes Volkswagen as Europe’s most valuable carmaker”
Source : PTI
Delhi government has reportedly received over 2,000 complaints flagging old or abandoned vehicles parked in the capital city in just two days. Complaints started flowing in as soon as the government issued WhatsApp number dedicated for the purpose, as reported by PTI. The service has been opened up to allow RWAs and market associations to report old cars parked around the city.
Citizens, RWAs and market associations immediately started sending pictures and reporting parked old cars around Delhi. However, the transport department does need to verify the details of these vehicles to ascertain their age and if they are unfit to run in the capital city. The details of the vehicles will be verified through the registration database of the transport department. As per authorities, there are approximately 25 lakh old and unfit vehicles in the capital city currently. If an old vehicle is reported and verified to be of unfit age, they will be impounded and handed over to authorised scrapping centres. The WhatsApp helpline can be reached on +91 8376050050
TOKYO, Oct 6 (Reuters) – Toyota Motor Corp said it would restart production of its first electric vehicle, the bZ4X, on Thursday after fixing potential safety problems that had halted sales of the new battery-powered model for more than three months.
Japan’s largest automaker, a laggard in the EV market, recalled 2,700 bZ4Xs globally in June after discovering that there was a risk the car’s wheels could come loose. Continue reading “Toyota restarts output of first EV after fixing safety issues”
TOKYO, Oct 6 (Reuters) – Honda Motor Co (7267.T) said on Thursday it would reduce car output by up to 40% at two Japanese plants for the rest of October from its earlier plans, as the company battles with persistent supply chain and logistical problems.
Two lines at Honda’s Suzuka plant in western Japan will cut production by about 20% in October, while its assembly plant in Saitama prefecture, north of Tokyo, will lower production plans by about 40% for the month. Continue reading “Honda to cut car output at two Japanese plants in October”
WASHINGTON, Oct 5 (Reuters) – GM Financial, a unit of General Motors Co (GM.N), agreed to pay over $3.5 million to resolve allegations it violated a U.S. federal law that provides certain benefits and protections to eligible servicemembers, the Justice Department said.
GM Financial was accused of violating the Servicemembers Civil Relief Act by illegally repossessing 71 servicemembers’ vehicles and by improperly denying or mishandling over 1,000 vehicle lease termination requests, the Justice Department said in a statement on Wednesday. Continue reading “GM Financial to pay over $3.5 mln to resolve claims it violated U.S. law”
