SHANGHAI/HONG KONG, March 31 (Reuters) – Tesla (TSLA.O) Chief Executive Elon Musk is making plans to visit China as early as April and is seeking a meeting with China’s Premier Li Qiang, two people with knowledge of planning for the trip told Reuters.
The exact timing of the visit is subject to Li Qiang’s availability, one of the sources said.
Continue reading “Exclusive: Elon Musk plans China visit, seeks meeting with premier”
PTI – In February, Citroen, which is a part of Stellantis Group, inked a pact with Kamarajar Port, which is located 24 km north of Chennai Port in the city, for shipping out vehicles to the overseas market.
Automaker Citroen has commenced export of its vehicles from Kamarajar Port Ltd in Tamil Nadu, the company said on Friday. Chairman of Kamarajar Port Ltd Sunil Paliwal, along with senior company officials, flagged off the first batch of vehicles at an event here.
Continue reading “Citroen begins exports from Kamarajar Port Ltd”
PTI – The device enables equipment owners and rental entrepreneurs to sustainably improve fleet performance, improve incomes and manage maintenance costs while reducing tractor downtime and preventing unauthorised usage of their tractors, the company said.
Mahindra Group’s agritech business on Thursday launched an IoT-based aftermarket device Krish-e-Smart Kit for farm equipment. The device, developed by agri-tech startup Carnot Technologies, provides detailed insights into tractors and farm equipment through GPS-enabled time- tracking and remote monitoring of various parameters through a smartphone, the company said in a release.
Continue reading “Mahindra Group launches IoT-based device for farm equipment”
PTI – “A Memorandum of Understanding (MoU) was signed between HPCL Mumbai refinery and BPCL Mumbai refinery as part of synergy through purchase and sale of hydrogen,” the company said in a statement.
Hindustan Petroleum Corporation Ltd (HPCL) on Thursday said it has signed a pact with Bharat Petroleum Corporation Ltd (BPCL) for synergy in purchase and sale of hydrogen between the refineries the two firms operate in Mumbai. Hydrogen is an essential utility required for treating of diesel and petrol to produce low-emission fuel of Euro-VI or Bharat Stage VI specifications, and is vital for reliable and safe refinery operations.
Continue reading “HPCL signs pact with BPCL for hydrogen synergy”
March 29 (Reuters) – India’s GoMechanic was acquired by a consortium led by car parts manufacturer Lifelong Group on Wednesday, ending months of uncertainty after the beleaguered car servicing startup announced job cuts and an independent review into its finances.
Financial details of the deal was not disclosed. GoMechanic and its investor Stride Ventures, which helped the process, did not immediately respond to Reuters’ request further details.
Continue reading “India’s GoMechanic acquired by consortium led by car parts maker Lifelong”
SOROWAKO, Indonesia, March 30 (Reuters) – U.S. carmaker Ford (F.N) has joined PT Vale Indonesia (INCO.JK) and China’s Zhejiang Huayou Cobalt’s as their new partner in a $4.5 billion nickel processing plant in Indonesia, the companies said on Thursday.
The investment is Ford’s first in the Southeast Asian country and underscores growing appetite among automakers for raw materials used in producing electric vehicle (EV) batteries, which account for about 40% of a vehicle’s sticker price, aiming to cut costs and close the gap on EV market leader Tesla (TSLA.O).
Continue reading “Ford in $4.5 bln deal for EV battery materials plant”
By Victoria Waldersee and Ilona Wissenbach
BERLIN, March 30 (Reuters) – Mercedes-Benz (MBGn.DE) said on Thursday it had signed a power purchase agreement (PPA) with Spain’s Iberdrola (IBE.MC) for 140 megawatts (MW) of wind energy from a Baltic Sea wind park, part of automakers’ push to make production costs more predictable.
Production chief Joerg Burzer told Reuters that Mercedes was focusing on securing wind capacity in northern Germany and installing solar capacity in the south of the country, which gets more sunshine but is less windy.
Continue reading “Mercedes amps up renewable energy switch with Iberdrola wind deal”
By Foo Yun Chee
BRUSSELS, March 30 (Reuters) – An Italian antitrust fine levied on Volkswagen (VOWG_p.DE) over its defeat devices may have infringed the German carmaker’s right not to be penalised twice for the same offence, an adviser to Europe’s top court said on Thursday.
The case came before the EU Court of Justice (CJEU) after Volkswagen challenged a 5 million euro ($5.4 million) Italian antitrust fine levied in 2016 for its misleading advertising about its cars fitted with illegal defeat devices.
Continue reading “EU court adviser says Italy antitrust fine may breach Volkswagen’s rights”
WASHINGTON, March 29 (Reuters) – Senate Energy Committee Chair Joe Manchin said on Wednesday he may go to court after the U.S. Treasury releases guidance later this week on battery sourcing guidance for electric vehicle tax credits.
“If it goes off the rails” and violates the intent of the climate legislation approved in August, “I will do whatever I can – if that means going to court and I can do it, I’d do it,” said Manchin, a Democrat.
Continue reading “Manchin threatens to sue US Treasury over EV tax credit rules”
BRUSSELS, March 30 (Reuters) – The U.S. Treasury Department is expected to give guidance on Friday on tax breaks for consumers buying electric vehicles and Europe’s auto sector and policymakers will be closely watching to assess the consequences for European industry.
The Treasury is not expected to specify vehicle models but merely lay out the subsidy criteria.
Continue reading “Factbox: How U.S. electric vehicle subsidy rules impact Europe”
TOKYO, March 30 (Reuters) – Toyota Motor Corp (7203.T) said on Thursday that global sales hit a record for the month of February as it bounced back from severe pandemic-induced parts shortages, adding that worldwide production also increased for a second straight month.
Japan’s biggest automaker said in a statement, however, that shortages of parts continue to be a problem. During the pandemic, it fared better than most car makers in managing supply chains, but even so ended up cutting monthly production targets repeatedly last year.
Continue reading “Toyota’s global sales notch up a February record as parts shortage eases”
PTI – “The Mumbai-Goa highway touches 66 tourism spots in Maharashtra’s Konkan. It will give development a high boost. It will also ensure quick transportation of fruits and other produce the region is famous for,” Gadkari said.
Union Minister Nitin Gadkari on Thursday said the work on the Mumbai-Goa highway will be completed by December this year, which would give a huge boost to development in Maharashtra’s Konkan region. He was speaking at the ‘bhoomi pujan’ ceremony in Panvel of the concretisation of the Palaspe-Indupur national highway stretch and some other routes.
Continue reading “Mumbai-Goa highway work will be completed by December: Nitin Gadkari”
PTI – A research team at Sophia University, Tokyo, Japan made studying these fractures in isolation possible, initially difficult because other types of fracture tend to occur alongside of it. They describe their findings in the journal Scripta Materialia.
Hydrogen embrittlement could put the brakes on the safe use of high-strength (HS) steel in hydrogen-powered vehicles, according to a new study. Upon exposing HS steel to rainwater (H2O) or hydrogen, the diffusion of hydrogen atoms into into its lattice structure creates intergranular (IG) fractures and progressively weakens it, making it more prone to mechanical failure.
PTI – The ministry has released Rs 560 crore or 70 per cent of the total amount to three OMCs — Indian Oil (IOCL), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) – as the first installment for the installation and commissioning of upstream infrastructure and charging equipment of EV public charging stations at respective retail outlets in the country.
The Ministry of Heavy Industries on Tuesday said Rs 800 crore under FAME India Scheme Phase II has been sanctioned to three PSU oil marketing companies (OMC) for setting up 7,432 public fast charging EV stations across the country. The amount has been sanctioned under FAME Scheme Phase II.
Continue reading “Govt sanctions Rs 800 cr for installing 7,432 EV fast charging stations”
LOS ANGELES, March 29 (Reuters) – Manufacturers of everything from pickup trucks to homes are still grappling with tight supplies of microchips and cement – shortages that could translate into delays and higher costs for federal efforts to arm Ukraine against Russian aggression and rebuild U.S. crumbling infrastructure and manufacturing.
The supply chain woes that sent costs soaring and spurred shortages of everything from toilet paper to passenger cars are easing for retail-focused industries, but remain stubbornly persistent in important growth sectors like autos, machinery, defense and non-residential construction, experts said.
Continue reading “Supply shortages threaten U.S. infrastructure and war efforts”
MILAN, March 29 (Reuters) – Italian metalworkers unions said on Wednesday they had reached an agreement with Stellantis (STLAM.MI) for up to 120 layoffs through voluntary redundancies at the group’s Atessa van-making plant in the central Abruzzo region.
The workers laid off will all be no more than five years away from retirement age, the unions said in a joint statement.
Continue reading “Stellantis, unions agree on layoffs, hiring at Italy’s Atessa plant”
By Lisa Barrington and Hadeel Al Sayegh
DUBAI, March 28 (Reuters) – Uber Technologies’ (UBER.N) Middle East subsidiary Careem is in advanced talks with Emirates Telecommunications Group Company (EAND.AD) to invest in its expansion into services beyond ride-hailing, five sources with knowledge of the matter told Reuters.
Careem began seeking outside investors last year to help finance its Super App, which offers services outside its core ride-hailing business such as food delivery, bike rentals, digital payments and courier services.
By Jyoti Narayan, Krystal Hu, Martin Coulter and Supantha Mukherjee
March 29 (Reuters) – Elon Musk and a group of artificial intelligence experts and industry executives are calling for a six-month pause in developing systems more powerful than OpenAI’s newly launched GPT-4, in an open letter citing potential risks to society and humanity.
Earlier this month, Microsoft-backed OpenAI unveiled the fourth iteration of its GPT (Generative Pre-trained Transformer) AI program, which has wowed users with its vast range of applications, from engaging users in human-like conversation to composing songs and summarising lengthy documents.
Continue reading “Elon Musk and others urge AI pause, citing ‘risks to society’”
OXFORD, England, March 29 (Reuters) – Portugal’s largest utility, EDP (EDP.LS), said a compromise by the European Commission to allow the sale of cars running on e-fuels after 2035 would not impact the company’s target to roll out electric vehicle (EV) charging stations.
European Union countries’ energy ministers on Tuesday gave approval to the bloc’s law to end sales of new CO2-emitting cars in 2035, after Germany won an exemption for cars running on e-fuels.
Continue reading “Portugal’s EDP to stick with EV charging target after EU e-fuel compromise”
WASHINGTON, March 28 (Reuters) – U.S. auto safety regulators said Tuesday they are opening a probe into 50,000 Tesla Model X vehicles after receiving two complaints reporting front seat belt failures.
The National Highway Traffic Safety Administration (NHTSA) said the preliminary evaluation covers 2022-2023 model year vehicles over reports of failures of the front seat belt to remain connected to the seat belt anchor pretensioner while driving.
Continue reading “U.S. agency opens probe into 50,000 Tesla Model X vehicles over front seat belts”
BRUSSELS, March 28 (Reuters) – European Union countries gave final approval on Tuesday to a landmark law to end sales of new CO2-emitting cars in 2035, after Germany won an exemption for cars running on e-fuels.
The approval from EU countries’ energy ministers means Europe’s main climate policy for cars can now enter into force – after weeks of delay caused by last-minute opposition from Germany.
Continue reading “EU countries approve 2035 phaseout of CO2-emitting cars”
March 28 (Reuters) – Electric-vehicle maker Lucid Group Inc (LCID.O) said on Tuesday it would lay off about 18% of its workforce, or around 1,300 employees, to cut costs as part of a restructuring plan.
The maker of Air luxury sedan last month forecast 2023 production that fell well short of analysts’ expectations and reported a major drop in orders during the fourth quarter.
Continue reading “EV startup Lucid to cut about 18% of its workforce”
HONG KONG/SHANGHAI, March 29 (Reuters) – Chinese electric vehicle (EV) giant BYD said on Wednesday it was large enough to shake off the impact of a bruising price war and faltering demand in China, after reporting an 11-fold increase in fourth-quarter profit.
The strong result came as it extended its lead in the Chinese market, thanks to an expanding range of products that is helping it overtake Volkswagen (VOWG_p.DE) to become the top-selling brand.
Continue reading “BYD downplays China price war impact after Q4 profit jumps”
PTI – Ashok Leyland would retail its LCV products including BADA DOST, DOST, PARTNER and MiTR range of vehicles. Ashok Leyland has more than 1,700 exclusive outlets ensuring authorised service centres at every 75 kms on major highways, the company said.
Hinduja Group flagship Ashok Leyland has inaugurated its new light commercial vehicle retail outlet in Tamil Nadu under its move towards strengthening presence, the company said on Tuesday. The company inaugurated its 11th light commercial vehicle dealership at Thiruparankundram Main Road, Pasumalai in Madurai on Tuesday offering sales, service and spares facility to customers.
Continue reading “Ashok Leyland LCV strengthens retail footprint”
PTI – LML said it aims to accelerate the growth of the e-mobility industry with its niche and ultra- premium products and added that the brand is currently focusing on building a well-knitted ecosystem of EV channel partners across the country.
Automaker LML on Monday said it has signed up 50 dealerships pan-India as part of its first phase of retail expansion ahead of the launch of its electric two-wheeler Star.
PTI – As per the partnership, the companies will offer last-mile delivery partners associated with Zomato affordable loan terms and battery swapping services.
Taiwan-based battery swapping firm Gogoro Inc on Tuesday said it has joined hands with Zomato and Kotak Mahindra Prime to promote fast adoption of electric mobility in the last-mile transportation segment. As per the partnership, the companies will offer last-mile delivery partners associated with Zomato affordable loan terms and battery swapping services.
By Joseph White and David Shepardson
DETROIT, March 27 (Reuters) – Shawn Fain, the new president of the United Auto Workers union, on Monday said workers at the Detroit Three automakers are “fed up with the status quo” and prepared to fight in contract talks this fall.
“You’re going to see a lot more aggressive UAW,” Fain told reporters late Monday after a day-long meeting with local union officials.
Continue reading “New UAW leader tells automakers: ‘Our membership is fed up’”
By Christina Amann and Marie Mannes
BERLIN/STOCKHOLM, March 28 (Reuters) – European carmakers are fighting back against proposed emission regulations they argue are too costly, rushed and unnecessary, but which the European Commission says are needed to cut harmful emissions and prevent a repeat of the Dieselgate scandal.
European Union countries and lawmakers will negotiate “Euro 7” proposals this year on tighter limits for car emissions – for diesel cars, but not petrol – and for heavy-duty trucks and buses, including nitrogen oxide and carbon monoxide.
Continue reading “Euro 7 emissions proposals, the sequel Europe’s carmakers don’t want to see”
PTI – The car maker, which expects 2023 to be the best for it in terms of sales in the country so far, also aims for electric vehicles to account for about 15 per cent of its overall sales this year. The group also plans to introduce three bike models under the BMW Motorrad business in India this year.
German luxury auto maker BMW plans to introduce 19 car models, including electric vehicles, in India this year as it looks to sustain double- digit sales growth in the country, a top company official said on Monday.
Continue reading “BMW plans to launch 19 car models in India this year; eyes double-digit growth”
PTI – High-quality electric four-wheelers coming into the market opens a whole new segment to electrify in the urban delivery ecosystem, MoEVing CEO Vikash Mishra said.
Clean energy solutions provider Gentari on Monday said it has signed an agreement with Tata Motors for the delivery of 5,000 units of e-commercial vehicles. The memorandum of understanding (MoU) through its affiliate entity is for three years, Gentari said in a statement.
Continue reading “Gentari signs pact with Tata Motors for 5,000 units of e-commercial vehicles”
PTI – Lexus is targeting professionals, such as doctors, architects, lawyers, and pilots, to expand its customer base in India and mitigate risks. The luxury carmaker aims to offer them the opportunity to experience its products by introducing subscription and leasing models. Currently, the majority of its sales come from businesspeople. The Japanese firm is looking to consolidate its six-year position in India by adding 25 to 30 outlets this year.
Luxury carmaker Lexus is looking to expand its customer base in India, enhance sales infrastructure as part of its strategy to grow sales in the country which is expected to see the premium segment return to pre- Covid levels this year, according to a top company official. The company, which is the luxury car arm of Japanese auto major Toyota, completed six years in India earlier this month and now plans to consolidate its position with a slew of measures to bring in additional volumes and growth.
Continue reading “Lexus India looks to expand customer base to de-risk business; expand sales infra”
PTI – The Road Transport and Highways Minister said in this year railway over bridges are being constructed at a cost of Rs 16,000 crore which will be increased to Rs 50,000 crore in five years.
India’s highways infrastructure will match that of the US by 2024 for which work in time bound ‘mission mode’ is on including construction of green expressways and rail over bridges, Union Road Transport and Highways Minister Nitin Gadkari said. He said cabinet nod to ‘Bharatmala 2’ is likely soon and once obtained it will meet the requirements of a robust infrastructure in the country.
Continue reading “India’s highways infra to match US by 2024: Gadkari”
PTI – With the Indian electric vehicle industry poised for an accelerated growth, the company is confident of meeting its target and would continue to raise funds through debt and equity going forward for the purpose. “From a long-term perspective we have taken a very strong position on EVs, and we have committed to financing two million electric vehicles in the next five years,” Aggarwal told PTI.
Electric vehicles (EV) financing digital platform RevFin Services is targeting to finance 20 lakh vehicles in the next five years, with an aim to grow three to four times every year, according to its CEO & Founder Sameer Aggarwal. With the Indian electric vehicle industry poised for an accelerated growth, he said the company is confident of meeting its target and would continue to raise funds through debt and equity going forward for the purpose.
Continue reading “RevFin targets financing 20 lakh electric vehicles in next 5 years”
PTI – BPCL has converted 21 Highways into electric corridors and going forward, by March 2023, 200 highways will be covered with Electric Vehicle Fast Chargers across India, to support and accelerate the EV growth in the country.
30 KW fast charging stations installed at 110 Fuel Stations, creating 19 EV Fast Charging Corridors on 15 major highways in Kerala, Karnataka and Tamil Nadu These corridors will connect important religious and tourists destinations with cities Highway Corridors creates to remove range anxiety of the electric vehicles owners, driving long distance Fuel Stations offers safe & secure stoppage points for EV charging, offering clean toilets and restaurants, which are ideal for driving break BPCL will convert 200 National Highways across India, by March 31st 2023, into electric corridors Bharat Petroleum Corporation Limited (BPCL), a ‘Maharatna’ and a Fortune Global 500 Company, today announced the launch of 19 EV Fast-Charging Corridors at 110 fuel stations along 15 highways in Karnataka, Kerala and Tamil Nadu.
March 27 (Reuters) – A trial kicks off in San Francisco federal court on Monday to determine how much money Tesla Inc (TSLA.O) must pay to a Black elevator operator who a jury determined was subjected to severe racial harassment while working at the electric auto maker’s flagship assembly plant.
The trial is scheduled to last five days. Last year, a judge slashed the $137 million verdict that the jury awarded in 2021 to plaintiff Owen Diaz, one of the largest ever in a U.S. workplace discrimination case. Diaz’s lawyers rejected the lower payout and opted for a new trial on damages.
Continue reading “Tesla faces new race bias trial from employee who had $137 million verdict cut”
March 27 (Reuters) – Li-Cycle Holdings Corp (LICY.N) said on Monday it will build a French facility to break down batteries from forklift manufacturer The Kion Group (KGX.DE), marking the latest expansion by the rapidly growing recycling company.
The French facility, which is expected to open in 2024 and complement similar sites under development in Germany and Norway, will break down lithium-ion batteries that power Kion’s forklifts and other heavy machinery, giving Li-Cycle a fresh source of batteries to recycle beyond the consumer automobile market.
Continue reading “Li-Cycle to build French battery processing facility”
STANTON, Tennessee, March 24 (Reuters) – Ford Motor Co (F.N) plans to build up to 500,000 electric trucks a year at its BlueOval City complex under construction in western Tennessee, the automaker said on Friday.
BlueOval City will assemble several versions of Ford’s next-generation F-series electric pickup, which the company calls Project T3.
Continue reading “Ford’s new Tennessee plant aims to build 500,000 electric trucks a year”
By Gleb Stolyarov and Roman Churikov
MOSCOW, March 24 (Reuters) – As the exodus of Western carmakers narrows options for Russian consumers, Chinese automakers are filling the gap, forcing Russians to overcome their reluctance to embrace Chinese brands and stomach higher prices.
Continue reading “Russians reluctantly embrace Chinese cars after Western brands depart”
BEIJING, March 24 (Reuters) – China’s lithium prices are plunging faster than expected this year, down 34% in the last four weeks alone, hit by a slump in demand for electric vehicles in the world’s biggest market that has left stocks of the metal piling up.
Spot lithium carbonate prices assessed by Fastmarkets fell to 260,000 yuan ($38,079.06) per tonne this week, less than half the price quoted last November.
Continue reading “Chinese lithium price dives in heated auto price war”
