April 17 (Reuters) – Porsche AG (P911_p.DE) posted a record year-on-year sales increase of 18% in the first quarter, boosted by China sales, the company said on Monday.
The German luxury carmaker delivered 21,365 cars in China, its largest single market, representing 21% growth over the previous year. The result there, which is the biggest among regions, was driven by the post-pandemic surge in demand.
Continue reading “Porsche posts record Q1 sales rise boosted by China”
JAKARTA, April 17 (Reuters) – Volkswagen will build an electric vehicle (EV) battery ecosystem in Indonesia and will partner with miner Vale, Ford and China’s battery minerals producer Zhejiang Huayou Cobalt, the Southeast Asian country’s investment minister said.
Automakers are courting Indonesia for its raw materials used in producing 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.
Continue reading “Volkswagen to partner on Indonesia EV battery ecosystem -minister”
PTI – Uber India and South Asia President Prabhjeet Singh said it has recorded nearly 100 per cent year-on-year growth in Airport trips in January and February this year and one in every 10 trips on the Uber platform is an airport trip.
Ride-hailing app Uber has signed a pact with AAI to build its cab service zone across their airports as it sees the aviation sector as one of the key growth drivers of its business, a senior company official said. Uber India and South Asia President Prabhjeet Singh told PTI that it has recorded nearly 100 per cent year-on-year growth in Airport trips in January and February this year and one in every 10 trips on the Uber platform is an airport trip.
Continue reading “Uber signs pact to build Uber Zones across all AAI airports”
PTI – Michelin is reportedly considering the local production of passenger vehicle tyres in India. This move could help the French firm improve operations in the country, which have suffered due to import restrictions introduced in 2020. Presently, Michelin only sells premium, limited- quantity, larger-sized tyres for performance-based models. Florent Menegaux, Michelin CEO, said the company saw India as a great developing market with fast-developing infrastructure.
French tyre major Michelin is actively considering production of passenger vehicle tyres locally in India, according to the group Chief Executive Officer Florent Menegaux. The local manufacturing would help the Clermont-Ferrand based tyre major to scale up operations in India, which remain critically subdued with the government introducing import restrictions in 2020.
Continue reading “Michelin may soon produce passenger vehicle tyres in India”
PTI – Explaining the idea behind the study, Amit Bhatt, ICCT managing director (India), told PTI, “We are trying to see if we can electrify the government trucks like garbage disposal trucks, water tankers, horticulture trucks. In order to do that, we will see their energy consumption so that in future, when they are electrified, we will know what kind of battery they will need and the charging infrastructure that will be needed.”
New Delhi: The transport department will soon start a study to examine the feasibility of converting government trucks into electric vehicles to reduce pollution levels in Delhi, officials said on Friday. The study, to be conducted by the International Council on Clean Transportation (ICCT), will commence next week and the recommendations will be submitted in a couple of months.
Continue reading “Delhi govt to study feasibility of converting its trucks into EVs”
PTI – The pilot scheme, which is the precursor to EVOLVE scheme by SIDBI-World Bank, has two components direct lending and indirect lending.
Small Industries Development Bank of India has announced the launch of a pilot scheme for better financing terms in electric vehicle space and strengthening the whole ecosystem. The pilot phase of ‘Mission 50K- EV4ECO’ aims at strengthening the EV ecosystem, including uptake for two, three and four-wheelers through direct and indirect lending, Small Industries Development Bank of India (SIDBI) said in a statement.
Continue reading “SIDBI launches new financing solution for electric vehicle space”
PTI – While the pace of the construction of national highways (NH) in the country touched a record high of 37 kilometre a day in 2020-21, it slowed to 30.11 kilometre a day in 2022-23.
The construction of national highways in 2022-23 was 10,993 kilometres, falling 13.70 per cent short of the government’s target of 12,500 km, according to the Ministry of Road Transport and Highways (MoRTH) latest data. The ministry awarded highways of 12,375 km length in the last financial year.
Continue reading “Construction of national highways at 10,993 kms in 2022-23: MoRTH”
JAKARTA, April 17 (Reuters) – Volkswagen will build an electric vehicle (EV) battery ecosystem in Indonesia and will partner with miner Vale, Ford and China’s battery minerals producer Zhejiang Huayou Cobalt, the Southeast Asian country’s investment minister said.
Automakers are courting Indonesia for its raw materials used in producing 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.
Continue reading “Volkswagen to partner on Indonesia EV battery ecosystem -minister”
SHANGHAI, April 16 (Reuters) – China’s electric vehicle (EV) maker Xpeng (9868.HK) unveiled on Sunday a new platform it developed in-house for making vehicles, which it said will reduce the development and manufacturing costs for its company’s upcoming models.
The Smart Electric Platform Architecture (SEPA) 2.0 will help Xpeng to reduce costs of powertrain systems including batteries by 25% and those of intelligent driving system by 50% by the end of 2024, Brian Gu, Xpeng’s president, told reporters in Shanghai on Sunday.
Continue reading “China’s Xpeng aims to cut costs with new vehicle manufacturing platform”
WASHINGTON, April 14 (Reuters) – European Commission Executive Vice President Valdis Dombrovskis said on Friday that the bloc wants to move quickly on a trade agreement with the United States for electric vehicle battery minerals and was optimistic on reaching a green steel and aluminum pact with Washington by October.
Dombrovskis, the EU’s top trade official, told reporters that he could not provide any details on timing for reaching a U.S.-EU deal after Washington and Tokyo’s quick agreement in late March.
Continue reading “EU’s Dombrovskis sees some progress on steel, battery minerals talks with U.S.”
April 14 (Reuters) – Two U.S. senators have written to Elon Musk, Tesla Inc’s chief executive, questioning him about the sharing by employees of sensitive images recorded by cameras in customers’ vehicles.
“This apparent willful disregard for the privacy of Tesla customers is unacceptable and raises serious questions about Tesla’s management practices,” states the letter, which is signed by Senators Edward J. Markey and Richard Blumenthal and was seen by Reuters. “We urge you to take all necessary actions to ensure that any images or videos consensually collected from Tesla vehicles are subject to strict privacy safeguards.”
Continue reading “Exclusive: Two U.S. Senators write to Tesla CEO Elon Musk after Reuters probe”
April 14 (Reuters) – Nissan is developing growth plans in areas such as software and electric vehicles (EVs) independent of Renault SA (RENA.PA) as the automakers work to finalise terms of a sharply limited alliance, said seven people with knowledge of the matter.
Japan’s third-biggest automaker by sales is seeking a partner outside the auto industry to develop software that connects vehicles to cloud-based services, two people involved in discussions said, without elaborating on candidates. That would address a relative weakness for Nissan as it tries to make cars “smarter and more connected”, one of the people said.
Continue reading “Exclusive: Nissan takes its own road, minus Renault, in seeking tech tie-up”
SINGAPORE, April 14 (Reuters) – Tesla Inc (TSLA.O) on Friday slashed prices for its electric vehicles in Europe, Israel and Singapore, expanding a global discount drive it began in China in January while raising concerns about its industry-leading profit margin.
Tesla last week reported first-quarter deliveries up just 4% from the previous quarter despite offering discounts in the United States, China, Japan, Australia and South Korea aimed at spurring demand.
Continue reading “Tesla expands discounts with price cuts in Europe, Singapore, Israel”
SHANGHAI, April 14 (Reuters) – China’s Zeekr has hired a former Lexus executive to helm its operations in Europe, according to a memo seen by Reuters, as the electric vehicle (EV) maker plans to sell into the region later this year.
Spiros Fotinos, who spent 24 years with Toyota (7203.T) and led the brand management of Lexus globally, joined Zeekr in September as the chief executive officer of Zeekr Europe to oversee the brand’s operation in the region, the memo showed.
Continue reading “China’s Zeekr hires ex-Lexus brand veteran to helm Europe operations”
MILAN, April 14 (Reuters) – Italy’s antitrust authority said on Friday it had opened an investigation into Enel (ENEI.MI), the country’s biggest utility, over possible abuse of its dominant position in electric vehicle charging points.
The probe involves Enel’s units Enel X Way, Enel X Way Italia and Ewiva, it said.
Continue reading “Italy investigating Enel over dominant position in EV charging”
MILAN, April 13 (Reuters) – Stellantis (STLAM.MI) has managed to preserve a strong pricing power in North America, its CEO Carlos Tavares told shareholders on Thursday, in contrast with signs of pricing power declining for global automakers, with possible impacts on margins.
Electric car maker Tesla (TSLA.O) earlier this month cut its prices in the United States, the fifth such cut in its largest market since the start of the year.
Continue reading “Stellantis retains strong pricing power in North America, CEO says”
HONG KONG, April 13 (Reuters) – Chinese ride-hailing giant Didi Global said on Thursday that it is working with Chinese carmakers to develop its own robotaxis, which it aims to put into service by 2025, revealing a concept one with robotic arms it called “Didi Neuron”.
The company said that it is collaborating with multiple new energy carmakers in China on developing robotaxis. Continue reading “China’s Didi Global to roll out self-developed robotaxis by 2025”
PTI – Uber India had contended the notifications were violative of Article 14 (equality before law) of the Constitution of India as they failed to satisfy the test of reasonable classification. It was stated that no differentiation in tax treatment can be created between passenger transport services rendered by auto drivers facilitated through e-commerce platforms versus passenger transport services rendered by auto drivers offline.
The Delhi High Court has upheld the Centre’s decision to levy GST on the services offered by an auto-rickshaw or other non-air-conditioned carriages through electronic commerce operators like Uber. A bench headed by Justice Manmohan dismissed the petitions of Uber India Systems Private Ltd and others challenging the 2021 central government notifications making fare in respect of a booking through the platform of an electronic commerce operator (ECO) for an auto-rickshaw ride or a bus ride exigible to tax.
Continue reading “Delhi HC upholds GST on auto ride through platforms like Uber”
MG Motor India Commences Production Of Comet EV CARANDBIKE
Govt incentives to drive EV penetration in India, charging infrastructure key WAF
Goldman Sachs downgrades Maruti just two weeks after projecting 33% upside CNBC
EV sales cross 1 million in FY23, two-wheelers lead the way CNBC
LONDON, April 13 (Reuters) – Legacy automakers got off to a late start with their commercial electric vans, opening the door for other electric commercial vehicle (ECV) makers to gain a foothold, as the Maxus brand from China’s SAIC Motor Corp (600104.SS) has done in Europe.
Fleet customers complain they simply cannot obtain enough electric vans from the likes of Ford Motor Co (F.N), Stellantis NV (STLAM.MI) brand Peugeot, Renault (RENA.PA) or Mercedes (MBGn.DE), and so they are casting about for alternatives.
Continue reading “Lack of electric vans opens door for Chinese, other EV makers”
WASHINGTON, April 12 (Reuters) – The U.S. Environmental Protection Agency (EPA) on Wednesday proposed sweeping emissions cuts for new cars and trucks through 2032, a move it says could mean two out of every three new vehicles automakers sell will be electric within a decade.
The proposal, if finalized, represents the most aggressive U.S. vehicle emissions reduction plan to date, requiring 13% annual average pollution cuts and a 56% reduction in projected fleet average emissions over 2026 requirements. The EPA is also proposing new stricter emissions standards for medium-duty and heavy-duty trucks through 2032.
Continue reading “Biden looks to boost EV sales with plan to cut vehicle emissions”
PARIS, April 13 (Reuters) – Renault (RENA.PA) said on Thursday it had entered a long-term commercial partnership with French start-up Verkor to produce batteries for the carmaker’s premium and Alpine electric models.
The targeted capacity of 12 gigawatt hours (GWh), enough to power more than 100,000 vehicles, would make Renault the biggest client of Verkor’s planned “gigafactory” in Dunkirk, which is aiming for a total capacity for batteries equivalent to 16 GWh.
Continue reading “Renault plugs into premium EV battery deal with start-up Verkor”
April 12 (Reuters) – Motorcycle maker Harley-Davidson Inc (HOG.N) said on Wednesday Chief Financial Officer Gina Goetter was leaving the company at the end of April, and toymaker Hasbro Inc (HAS.O) said she would take over as its finance chief.
Harley issued a statement saying that Vice President, Treasurer David Viney will serve as interim CFO after Goetter’s departure on April 28.
Continue reading “Harley-Davidson CFO to step down, joins toymaker Hasbro”
CHENGDU, China, April 12 (Reuters) – Chinese electric vehicle maker Zeekr on Wednesday launched a compact, all-electric sport utility vehicle, as it targeted a premium market in China that has been dominated by German automakers.
The Geely-owned [RIC:RIC:GEELY.UL] brand said it also planned to offer the SUV-styled Zeekr X and its Zeekr 001 EV sedan in Western Europe without saying when that would be.
Continue reading “China’s Zeekr launches electric SUV, targets Europe”
April 12 (Reuters) – New vehicles’ average transaction price fell below the manufacturer’s suggested retail price (MSRP) for the first time in 20 months, according to data published by automotive research company Kelley Blue Book.
Vehicle prices turned hot after a pandemic-driven supply chain snag and an increased demand for private cars.
PTI – Speaking to reporters, the minister for road transport & highways commended the LG for his “single-minded commitment” to the development of the national capital.
Union minister Nitin Gadkari on Wednesday inaugurated an upgraded stretch between Dhaula Kuan and IGI Airport here and pledged INR 1,500 crore for revamping of roads in Delhi. Accompanied by Delhi Lieutenant Governor VK Saxena, Gadkari inaugurated the 8-km stretch revamped and beautified by the Public Works Department (PWD).
Continue reading “Nitin Gadkari pledges INR 1,500 cr for revamping of roads in Delhi”
WASHINGTON, April 12 (Reuters) – The U.S. Environmental Protection Agency (EPA) on Wednesday proposed sweeping emissions cuts for new cars and trucks through 2032, a move it says could mean two out of every three new vehicles automakers sell will be electric within a decade.
The proposal, if finalized, represents the most aggressive U.S. vehicle emissions reduction plan to date, requiring 13% annual average pollution cuts and a 56% reduction in projected fleet average emissions over 2026 requirements. The EPA is also proposing new stricter emissions standards for medium-duty and heavy-duty trucks through 2032.
Continue reading “U.S. proposes 56% vehicle emissions cut by 2032, requiring big EV jump”
April 12 (Reuters) – Mercedes-Benz Group (MBGn.DE) sales rose moderately in the first quarter of the year, boosted by electric vehicles (EV) and premium cars, the German carmaker said on Wednesday.
Worldwide sales increased 3% to 503,500 vehicles, with Europe posting the strongest growth at 8%.
Continue reading “Mercedes posts rise in Q1 sales boosted by EVs, premium cars”
April 12 (Reuters) – Alphabet Inc’s (GOOGL.O) self-driving technology unit Waymo said on Wednesday that some of its vehicles in San Francisco encountered dense fog and briefly pulled over to the side of the road.
The incident, which occurred at around 6.00 a.m. Pacific Time, impeded some traffic movement before the cars moved out of the area as the fog began to clear, Waymo said.
Continue reading “Waymo vehicles pull over in California due to fog”
WASHINGTON, April 11 (Reuters) – A major U.S. transport union on Tuesday opposed a request by Alphabet Inc’s (GOOGL.O) self-driving unit Waymo and autonomous driving technology company Aurora Innovation Inc (AUR.O) for an exemption from rules on warning devices for large semi-trucks, citing safety issues.
The Federal Motor Carrier Safety Administration (FMCSA) said last month it received a joint application from Waymo and Aurora seeking a five-year exemption from rules that require drivers to place reflective triangles or a flare around a stopped truck to alert other drivers and help prevent a crash.
Continue reading “US union opposes driverless trucks waiver for Waymo, Aurora”
PTI – The pace of increase in EV sales and towards the government’s target of 30 per cent by 2030 will also depend on the country’s charging infrastructure, and consumers’ readiness to switch to EVs from traditional ICE vehicles, or those traditional engines powered by petrol, diesel, or natural gas.
Government incentives, including those to consumers, local battery manufacturing, state-level subsidies and cut in GST rates would help drive EV penetration in India, Moody’s has said. In a report, Moody’s Investors Service said India has the fourth-largest car market globally, but electric vehicle (EV) penetration is currently only around 1 per cent.
Continue reading “Govt incentives to drive EV penetration in India, charging infrastructure key”
PTI – Talking to reporters after a bilateral meeting with India’s Commerce and Industry Minister Piyush Goyal here, he said, “The cut of the additional production would mean that we have all the reasons to believe that there could be an upward pressure on the prices”.
The International Energy Agency (IEA) on Tuesday termed the decision of OPEC+ to cut oil production as “risky for the global economy”, saying it may push up already high prices, leading to higher import bills for nations like India. Global oil markets were already set to tighten in the second half of 2023, with the potential for a substantial supply deficit to emerge, said Fatih Birol, head of the Paris-based energy watchdog.
Continue reading “OPEC+ output cut may lead to higher oil prices, push up India’s import bill”
PTI – The Delhi government’s EV policy aims to accelerate the adoption of electric vehicles in the city to reduce air pollution and improve public health. The policy provides a range of incentives and subsidies to encourage the purchase and use of EVs.
BSES discoms BRPL and BYPL have facilitated the installation of around 2300 charging points in Delhi for electric vehicles (EVs) and are in the process to set up 900 more in the coming months, company’s officials said on Tuesday. The 2300 charging points installed at over 900 locations across south, east, central and west Delhi include 1,123 private ones, 745 public and 419 for captive BSES use, the officials said.
Continue reading “Facilitated around 2300 EV charging points in Delhi, 900 more coming”
SEOUL, April 11 (Reuters) – Hyundai Motor Group said on Tuesday it planned to invest 24 trillion won ($18.14 billion) in South Korea’s electric vehicle (EV) industry through 2030, bolstering its presence in a segment that is set to dominate long-term global automotive demand.
The investment plan by the group, which includes Hyundai Motor Co (005380.KS), Kia Corp (000270.KS) and Hyundai Mobis Co Ltd (012330.KS), came as President Yoon Suk Yeol attended a groundbreaking ceremony for Kia’s first designated electric vehicle plant.
Continue reading “Hyundai Motor Group to invest $18 bln in South Korean EV industry by 2030”
WASHINGTON, April 10 (Reuters) – The U.S. Energy Department (DOE) on Monday proposed reducing electric vehicles’ (EV) mileage ratings to meet government fuel economy requirements, a move that could force automakers to sell more low-emissions cars or improve conventional models.
DOE wants to significantly revise how it calculates the petroleum-equivalent fuel economy rating for electric and plug-in electric hybrids for use in the National Highway Traffic Safety Administration’s (NHTSA) Corporate Average Fuel Economy (CAFE) program.
Continue reading “US proposes to slash EV mileage ratings to meet fuel economy rules”
April 11 (Reuters) – General Motors Co (GM.N) will announce on Tuesday an investment in lithium technology startup EnergyX as it expands further into the mining industry, the latest deal by the car maker to ensure long-term supplies of the metal used to make electric vehicle batteries.
The global push by automakers to electrify their fleets has sparked a rush for stable supplies of lithium, copper, nickel and other critical minerals. Demand is expected to exceed supply by the end of the decade, fueling interest in novel production methods.
