Jan 5 (Reuters) – Chrysler parent Stellantis NV (STLA.MI) Chief Executive Officer Carlos Tavares said on Thursday that more auto plant closures will happen if high prices for electric vehicles (EV) cause vehicle markets to shrink from pre-pandemic levels.
Automakers will risk losing pricing power as chip supplies recover, Tavares said at the CES technology trade show in Las Vegas. Continue reading “Stellantis CEO warns of more auto plant closures”
LAS VEGAS, Jan 5 (Reuters) – Chinese electric vehicle brand Zeekr aims to double sales in 2023 to about 140,000 vehicles and plans to expand sales in Europe, Chief Executive Andy An told Reuters on Thursday.
Zeekr, a brand created by Chinese automaker Geely (0175.HK), sold 72,000 vehicles in 2022, mostly in China. Its 001 model, priced at about 300,000 yuan ($43,600), competes with Tesla Inc’s (TSLA.O) Model Y crossover and other luxury models in the increasingly competitive Chinese market. Continue reading “Geely’s EV brand Zeekr aims to double sales in 2023, expand in Europe”
Jan 5 (Reuters) – The Nevada Department of Motor Vehicles (DMV) said on Thursday that German carmaker Mercedes-Benz (MBGn.DE) can deploy advanced automated driving systems on its roads after it completed a self-certification.
The automaker said the Nevada DMV approved its application and is preparing the certificate of compliance that will be issued within the next two weeks. Continue reading “Mercedez-Benz to deploy advanced automated driving system in Nevada”
LAS VEGAS, Jan 5 (Reuters) – What started out as a novelty offered by Elon Musk to Tesla (TSLA.O) owners has turned into table stakes in the next generation of electric vehicles.
Automakers from Sony Honda to Hyundai are introducing ways at the CES 2023 technology trade show this week to reshape the in-car entertainment experience, including offering video games during the rides. They are positioning themselves to take advantage of the time people spend in their cars as a source of potentially lucrative, recurring revenue. Continue reading “Got game? Automakers show off in-car entertainment options at CES”
LAS VEGAS, Jan 5 (Reuters) – BMW AG (BMWG.DE) has unveiled a prototype for a car that talks like a human being, changes colors to suit the driver’s mood and has no screens on its dashboard.
The German luxury automaker’s BMW i Vision Dee, revealed at a splashy kickoff on Wednesday evening for the CES conference here, previews technology that Chief Executive Oliver Zipse said would be put into production in 2025. BMW plans to launch a new lineup of electric vehicles, which it is calling the Neue Klasse, or new class. Continue reading “BMW teases a talking car that shifts colors like a chameleon”
Jan 5 (Reuters) – Ford Motor Co (F.N) on Thursday posted a smaller decline in annual U.S. sales compared with a year earlier, as an improvement in inventory levels allowed the automaker to ship more sports utility vehicles (SUVs) and trucks to dealers.
The company sold 1,864,464 vehicles in 2022, down about 2.2%. In contrast, sales in 2021 fell about 7%. Continue reading “Ford reports smaller drop in 2022 U.S. sales as inventory levels improve”
LAS VEGAS, Jan 5 (Reuters) – Chinese automakers can build an electric vehicle (EV) for 10,000 euros ($10,618) less than European automakers, an overwhelming cost advantage that will put pressure on European manufacturers in their home market, the head of auto supplier Forvia said. Continue reading “China has a 10,000 euro cost advantage in small EVs, auto supplier says”
BENGALURU, Jan 5 (Reuters) – Retail sales of vehicles in India could take a hit in the final quarter of the fiscal year, an automobile dealers’ body said on Thursday while reporting a more than 5% year-on-year fall in sales for December at 1.62 million units.
India has mandated automakers to comply with stricter fuel efficiency norms from April 2023, aimed at reducing carbon emissions. This, the Federation of Automobile Dealers Associations (FADA) said, would trigger further price hikes and result in weaker sales for the quarter ending March 31. Continue reading “India’s retail vehicle sales dip in December, to take hit in Q4 – dealers’ body”
German automotive group BMW on Tuesday reported record sales of its luxury cars and motorcycles in India at 19,263 units in 2022. Customer deliveries of cars of both brands BMW and MINI registered a growth of 35 per cent at 11,981 units last year, which was the highest-ever, BMV Group India said in a statement.
BMW India registered sales of 11,268 units at a growth of 37 per cent and MINI India of 713 units, up 11 per cent from 2021, it added. Sports Activity Vehicle range, including the X1, X3, X5 and X7 grew at over 60 per cent, while luxury sedans such as the 3 Series, 5 Series and 6 Series continued their strong run, the
company said. Continue reading “BMW India posts record sales at 19,263 units in 2022”
State-owned Convergence Energy Services Ltd, a wholly-owned subsidiary of Energy Efficiency Services Ltd (EESL), on Tuesday said the prices discovered for the 6,465 electric bus tender were 29 per cent lower than what it costs to operate diesel buses. This unified tender constitutes demand for electric buses from six Indian states & UTs – Delhi, Telangana, Haryana, Surat (Gujarat), Kerala & Arunachal Pradesh, a statement said.
This is the first tender under the National Electric Bus Programme (NEBP). The lowest price discovered for a 12-meter bus (intra-city) was Rs 54.3/km, & 12-meter bus (intercity) was Rs 39.8/km Continue reading “E-bus tender discovers 29 pc lower price than diesel ones: CESL”
Jan 4 (Reuters) – General Motors Co (GM.N) on Wednesday posted a 2.5% rise in U.S. new vehicle sales in 2022, outselling Japan’s Toyota Motor Corp (7203.T), aided by an easing of inventory shortages and strong demand for its cars and trucks.
The U.S. automaker said its 2022 sales rose to 2,274,088 vehicles in the country, beating Toyota’s annual sales of 2,108,458 units. Continue reading “GM outsells Toyota in U.S. with 2.5% rise in 2022 auto sales”
Jan 4 (Reuters) – Japan’s Sony (6758.T) on Wednesday unveiled a prototype of the new “Afeela” electric vehicles it will build together with Honda (7267.T), saying it would harness its vast entertainment content as it looks to become a player in next-generation cars.
Sony gave a glimpse of the Afeela, which sports rounded corners and a sleek black roof, at the CES 2023 technology trade show in Las Vegas. The car will use technology from hardware maker Qualcomm Inc (QCOM.O), including its “Snapdragon” digital chassis. Continue reading “Sony, Honda roll out prototype of ‘Afeela’ EV that uses Qualcomm tech”
TOKYO, Jan 5 (Reuters) – Toyota Motor Corp (7203.T) President Akio Toyoda has tested positive for COVID-19 and will be absent from a series of New Year events to be held by Japanese business lobbies on Thursday, a company spokesperson said.
Toyoda had been due at events in Tokyo hosted by Japan’s top trade organisations where business and political leaders including Prime Minister Fumio Kishida will be in attendance. Continue reading “Toyota chief tests positive for COVID, cancels business event attendance”
PARIS, Jan 4 (Reuters) – Stellantis (STLA.MI) will ultimately cut about one in five retail outlets in France, the automaker said on Wednesday, as it seeks to restructure its distribution network to reduce costs and prepare for the era of electric cars.
The Franco-Italian group, whose brands include Peugeot, Citroen and Fiat, is racing to gain more flexibility in its sales network to adapt to new trends and customer demands as cars are becoming increasingly electrified and software-driven. Continue reading “Stellantis plans to cut one in five French outlets in dealership revamp”
Jan 4 (Reuters) – Japanese automaker Nissan Motor Co (7201.T) and French automaker Renault SA (RENA.PA) have agreed to restrict the use of the intellectual property they developed together in a new company established by Renault, a report by Nikkei said on Wednesday.
The sharing of technology had emerged as a sticking point between Renault and Nissan as the pair negotiated an overhaul of their decades-old partnership, Reuters reported in October. Continue reading “Renault’s new venture to limit use of IP developed by Renault and Nissan -Nikkei”
OAKLAND, Calif., Jan 4 (Reuters) – Mobile chip maker Qualcomm Technologies, Inc (QCOM.O) on Wednesday unveiled a processor chip for the car called Snapdragon Ride Flex SoC that handles both assisted driving and cockpit functions, including entertainment.
Previously those functions were handled on different chips and merging them can help bring down costs, said Nakul Duggal, Qualcomm’s head of automotive. Continue reading “Qualcomm launches auto chip to handle both assisted driving and entertainment”
Jan 4 (Reuters) – Microsoft Corp (MSFT.O) is in advanced talks to invest in Gatik, a California-based autonomous driving startup, as part of its cloud partnership with the company, two people familiar with the discussions told Reuters.
Microsoft plans to invest over $10 million in a financing round that values Gatik at more than $700 million, the sources added. As part of the deal, Gatik will use Microsoft’s cloud and edge computing platform Azure in developing autonomous delivery technology for trucks. Continue reading “Microsoft to invest in autonomous trucking startup Gatik -sources”
Jan 4 (Reuters) – More U.S. consumers want to buy an electric vehicle (EV) but are concerned about rising prices, while fewer aimed to purchase gasoline-powered vehicles, a survey by consulting firm Deloitte showed on Wednesday.
Nearly 7 in 10 prospective EV buyers in the United States expect to pay less than $50,000 for their next vehicle, according to the survey conducted between September and October 2022. Continue reading “More U.S. consumers want EVs but prices are a concern – Deloitte survey”
MEXICO CITY, Jan 3 (Reuters) – General Motors (GM.N) discussed plans to produce only electric vehicles at its Ramos Arizpe plant in northern Mexico, the country’s economy ministry said in a tweet on Tuesday, following a meeting with the U.S. carmaker.
(This story has been corrected to remove reference to 5,000 new jobs after the government officially clarified these were 4,500 jobs already created at separate plants over the course of the past four years) Continue reading “General Motors, Mexico economy ministry talk EV production – ministry”
Jan 3 (Reuters) – (This Jan. 3 story has been corrected to fix the period of the reduced production forecast from midyear to March 2022, in the fourth paragraph)
Electric vehicle maker Rivian Automotive (RIVN.O) barely missed its full-year production target of 25,000 vehicles in 2022, the company said in a filing late on Tuesday. Continue reading “Rivian stock less bruised than Tesla as both miss EV targets”
Jan 3 (Reuters) – Chipmaker Nvidia Corp (NVDA.O) and electronics manufacturer Foxconn (2317.TW) announced a partnership on Tuesday to develop autonomous vehicle platforms.
Taiwanese contract manufacturer Foxconn said it will manufacture electronic control units (ECUs) for cars based on Nvidia’s DRIVE Orin chip made specifically for computing in connected and autonomous vehicles. Continue reading “Foxconn to use Nvidia chips to build self-driving vehicle platforms”
SEOUL, Jan 3 (Reuters) – South Korea’s antitrust regulator said it would impose a 2.85 billion won ($2.2 million) fine on Tesla Inc (TSLA.O) for failing to tell its customers about the shorter driving range of its electric vehicles (EVs) in low temperatures.
The Korea Fair Trade Commission (KFTC) said that Tesla had exaggerated the “driving ranges of its cars on a single charge, their fuel cost-effectiveness compared to gasoline vehicles as well as the performance of its Superchargers” on its official local website since August 2019 until recently. Continue reading “South Korea fines Tesla $2.2 mln for exaggerating driving range of EVs”
Source : PTI : New Delhi: Society of Manufacturers of Electric Vehicles on Tuesday sought extension of subsidies for EVs under the FAME II scheme and also include light to heavy commercial vehicles in it to promote electric mobility. In its pre-Budget recommendations, the industry body also called for a uniform 5 per cent GST on spare parts for electric vehicles.
“The validity of FAME I is set to expire on March 31, 2024. We believe FAME’s validity needs to be extended since we have yet to meet the penetration the subsidy was supposed to catalyse,” Society of Manufacturers of Electric Vehicles (SMEV) said in a statement. Continue reading “SMEV seeks extension of subsidies for electric vehicles under FAME-II in Budget”
Source : PTI : Auto-tech firm CarDekho Group on Monday said it has narrowed total losses to Rs 246 crore in 2021-22. The group had posted a total loss of Rs 341 crore in FY21, CarDekho said in a statement.
The revenue from operations in FY22 increased to Rs 1,598 crore from Rs 884 crore in FY21, it added. Continue reading “CarDekho Group narrows loss to Rs 246 crore in FY22”
SEOUL, Jan 3 (Reuters) – South Korea’s antitrust regulator said it would impose a 2.85 billion won ($2.2 million) fine on Tesla Inc (TSLA.O) for failing to tell its customers about the shorter driving range of its electric vehicles (EVs) in low temperatures.
The Korea Fair Trade Commission (KFTC) said that Tesla had exaggerated the “driving ranges of its cars on a single charge, their fuel cost-effectiveness compared to gasoline vehicles as well as the performance of its Superchargers” on its official local website since August 2019 until recently. Continue reading “South Korea fines Tesla $2.2 mln for exaggerating driving range of EVs”
Jan 3 (Reuters) – Tesla Inc’s (TSLA.O) China chief Tom Zhu has been promoted to take direct oversight of the electric carmaker’s U.S. assembly plants as well as sales operations in North America and Europe, according to an internal posting of reporting lines reviewed by Reuters. Continue reading “Exclusive: Tesla makes China boss highest-profile executive after Musk”
Jan 2 (Reuters) – Germany’s Rheinmetall (RHMG.DE) has won an order worth more than a quarter billion euros in the electromobility segment, the industrial group said in a statement on Monday.
Rheinmetall said it would be providing the new 900-volt generation of electrically powered vehicles with a new type of contactor to a premium German automaker. Continue reading “Rheinmetall wins quarter-billion euro order for e-vehicle parts”
Mumbai, 2 January 2023: Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, today announced that its overall auto sales for the month of December 2022 stood at 56,677 vehicles.
In the Utility Vehicles segment, Mahindra sold 28,333 vehicles in December 2022. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 28,445 vehicles in December 2022. Continue reading “Mahindra Auto sells 28,333 SUVs with a 62% growth and 56,677 vehicles across portfolio with a 45% growth in December 2022”
Hyundai Motor India today announced elevations in its Senior Management leadership. Tarun Garg, Director (Sales, Marketing & Service) has been elevated to the Chief Operating Officer (COO) of Hyundai, overseeing Sales, Marketing, Service & Product Strategy for the organisation.
Gopala Krishnan CS, Vice President (Production), has been elevated as Chief Manufacturing Officer (CMO) overseeing Production, Quality Management & Supply Chain. The elevations are effective from January 01, 2023.
Continue reading “Hyundai India elevates Tarun Garg as COO and Gopala Krishnan as CMO”
Chennai, Jan 2 (IANS) Two-wheeler maker LML on Monday said it will showcase its electric model ‘Star’ at the upcoming AutoExpo 2023 near Delhi, said a top company official.
“We are ecstatic to present this engineering marvel to the world and at this auto expo we envision a future where Star is embraced by consumers as a stylish and intelligent mode of commuting around the globe. Paving our way to the e-mobility solutions we are also looking forward to sharing our insights on our global company strategy,” Dr. Yogesh Bhatia, MD & CEO, LML said. Continue reading “LML to showcase EV Star at AutoExpo”
Tata Motors on Sunday reported a 10 per cent increase in total domestic sales at 72,997 units in December 2022. The company had sold 66,307 units in the same month previous year, Tata Motors said in a statement.
Passenger vehicle sales in the domestic market stood at 40,043 units last month as against 35,299 units in December 2021, a growth of 13.4 per cent. Continue reading “Tata Motors reports 10 pc increase in total domestic sales”
Sajan Jindal-led conglomerate JSW Group is considering a foray into the manufacturing of electric vehicles, according to a top official of the group. “The group had examined EV manufacturing plans earlier also but now it is becoming attractive,” JSW Group Chief Financing Officer Seshagiri Rao told PTI.
The manufacturing of EVs is being discussed actively at the group level, he said while divulging JSW Group’s plan to expand its presence into more sectors. Continue reading “JSW Group mulls foray into EVs, to manufacture 4-wheelers”
Source : PTI : Hyundai Motor India Ltd on Sunday reported an 18.2 per cent increase in total sales at 57,852 units in December 2022. The company had sold 48,933 units in the same month in 2021, Hyundai Motor India Ltd (HMIL) said in a statement.
Domestic sales grew by 20.2 per cent last month at 38,831 units as compared to 32,312 units in the year-ago month. Continue reading “Hyundai Motor India sales rise 18.2 pc to 57,852 units in Dec”
SHANGHAI, Jan 1 (Reuters) – Leading Chinese electric car manufacturer BYD Co has adjusted its product prices starting from Jan. 1, citing the impact of reduced subsidies for new energy vehicles since November last year.
Official guidance prices will rise by between 2,000 yuan ($290) and 6,000 yuan for its various models, the company said on its official Weibo account. Continue reading “China’s BYD raises car prices after subsidy cuts”
Dec 31 (Reuters) – Sweden-based Volvo Car AB said on Saturday it had taken 100% ownership of its autonomous driving (AD) software development subsidiary Zenseact.
Volvo Cars acquired 13.5% of shares in Zenseact from ECARX, which made the AD software company a fully owned subsidiary of the Swedish automaker. Zenseact will continue to remain and operate as a standalone company, Volvo Cars said. Continue reading “Zenseact becomes fully owned subsidiary of Volvo Cars”
Jan 1 (Reuters) – A data breach at Toyota Motor’s (7203.T) Indian business might have exposed some customers’ personal information, it said on Sunday.
Toyota India said it has notified the relevant Indian authorities of the data breach at Toyota Kirloskar Motor, a joint venture with Indian conglomerate Kirloskar Group (KIRL.NS). Continue reading “Toyota’s Indian unit warns of a possible customer data breach”
