April 3 (Reuters) – Top global automakers reported a rise in first-quarter U.S. sales on improving shipments to dealers, with the exception of Toyota Motor Corp (7203.T), which continued to grapple with parts shortage, data showed on Monday.
General Motors Co (GM.N), which replaced Toyota as the top U.S. automaker in 2022, posted a 17.6% rise in first-quarter auto sales.
Continue reading “US sales at top automakers rise on improving inventory, Toyota struggles”
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:
TESLA (TSLA.O):
26-Aug-2022 – Panasonic Holdings Corp (6752.T), a supplier to Tesla, is in talks to build an additional EV battery plant in the United States at a cost of about $4 billion.
Continue reading “Factbox: Automakers accelerate drive to secure battery raw materials”
April 3 (Reuters) – Rivian Automotive Inc (RIVN.O) maintained its annual forecast on Monday as the electric-vehicle maker scrambles to lift output in an industry under pressure from an uncertain economy and a price war started by Tesla Inc (TSLA.O).
Shares of Rivian, whose backers include Amazon.com Inc (AMZN.O), fell 2.4% in a broad decline for EV stocks that saw Tesla fall 6.3% after its own production report.
Continue reading “Rivian reiterates production forecast as EV maker rushes to boost output”
BERLIN, April 2 (Reuters) – Volkswagen (VOWG_p.DE) does not plan to develop a new combustion engine generation of its legendary Golf car, brand chief Thomas Schaefer told autos publication Automobilwoche on Sunday, marking the end of the line for a vehicle on sale since 1974.
The Golf 8, currently in production, will be the last combustion engine version of the hatchback car, with one more series of updates expected next year.
Continue reading “Volkswagen not planning new combustion engine Golf, Automobilwoche reports”
SHANGHAI, April 1 (Reuters) – China’s Huawei Technologies (HWT.UL) is partnering with more legacy automakers to produce Aito-branded electric cars, the company’s senior executive said on Saturday, in a move to expand its presence in the auto industry.
Huawei will team up with Chery Automobile (CHERY.UL), BAIC Motor (1958.HK) and Anhui Jianghuai Automobile Group (600418.SS) in jointly developing and manufacturing Aito-branded vehicles, Richard Yu, Huawei’s Smart Car CEO, said at the China EV 100 forum in Beijing.
Continue reading “China’s Huawei partners with more automakers to produce Aito EVs”
WASHINGTON/MEXICO CITY, March 31 (Reuters) – The U.S. and Mexico on Friday announced a deal to resolve a U.S. labor complaint at VU Manufacturing in northern Mexico that requires the auto parts plant to let workers freely choose their union in line with a trade pact aimed at improving labor rights.
Mexico’s government previously found “serious irregularities” at the factory violating the 2020 United States-Mexico-Canada Agreement (USMCA), the second probe into the plant at the request of the U.S. following worker complaints.
Continue reading “U.S., Mexico agree deal to fix labor dispute at VU Manufacturing plant”
PTI – Royal Enfield, the motorcycle maker, plans to extend its global reach, including setting up assembly operations in Bangladesh and Nepal, according to CEO B Govindarajan, to expand its record-breaking exports of 1,00,055 units in FY23. Royal Enfield has assembly units in Argentina, Brazil, Colombia, and Thailand, and plans to locate nearby its international consumers to gain their long-term confidence.
Motorcycle maker Royal Enfield plans to strengthen its international presence, including setting up of assembly operations in Nepal and Bangladesh, to expand its global footprints, riding on the back of record exports last fiscal, according to CEO B Govindarajan. The company, which is present in over 40 countries in the middleweight motorcycle category of 250cc to 750cc, is banking on its existing products and “a slew of new products lined up” to enhance its share in the markets and segments it is present.
PTI – The entry-level trims of the models, which come with a 1.5-litre petrol engine, would however continue to feature the manual transmission in order to cater to the price-conscious customer.
Automaker Kia India aims to garner 40 per cent of its overall sales this year from cars with an intelligent manual transmission (iMT) as demand for automatic vehicles continues to grow in the domestic market, according to a senior company official. The automaker is replacing manual transmission with intelligent manual transmission (iMT) in turbo petrol and diesel trims of Seltos, Carens and Sonet.
Continue reading “Kia India expects 40 % of sales in 2023 to accrue from iMT trims”
PTI – Prime Minister Narendra Modi on Sunday hailed the Steel Authority of India Limited (SAIL) for its best ever annual production in the 2022-23 fiscal, and said this shows that not only in steel, but also in every sector the country is moving fast towards self-reliance.
Prime Minister Narendra Modi on Sunday hailed the Steel Authority of India Limited (SAIL) for its best ever annual production in the 2022-23 fiscal, and said this shows that not only in steel, but also in every sector the country is moving fast towards self-reliance. In a tweet in Hindi, SAIL said it has achieved its best ever annual production in FY 2022-23.
Continue reading “PM hails SAIL for its best ever annual production”
PTI – The auto major said its passenger vehicle sales in the domestic market stood at 44,044 units last month, as compared to 42,293 units in the same month last year. Commercial vehicle sales in the domestic market stood at 46,823 units as against 47,050 units in March 2022, it added.
Tata Motors on Saturday said its total domestic wholesales increased by 3 per cent to 89,351 units in March compared to the same month last year. The company sold 86,718 units in March 2022.
Continue reading “Tata Motors total domestic sales up 3% at 89,351 units in March”
SHANGHAI, April 1 (Reuters) – A senior Volkswagen AG (VOWG_p.DE) China executive reiterated on Saturday the German automaker’s commitment to quickening the pace of electrification in the world’s second largest economy despite issues such as intensified competition and weak demand.
VW plans to increase the number of charging posts in China for electric vehicles to 17,000 by 2025, as it planned to invest 15 billion euros ($16.26 billion) in the country on electric mobility together with its three joint ventures by 2024, Stefan Mecha, chief executive of the Volkswagen brand in China, told China’s EV 100 forum in Beijing.
Continue reading “VW pledges to double down on EVs in China, urges extension of NEV tax breaks”
NEW YORK, March 31 (Reuters) – Elon Musk asked a U.S. judge on Friday to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin.
In an evening filing in Manhattan federal court, lawyers for Musk and his electric car company Tesla Inc (TSLA.O) called the lawsuit by Dogecoin investors a “fanciful work of fiction” over Musk’s “innocuous and often silly tweets” about Dogecoin.
Continue reading “Elon Musk seeks to end $258 billion Dogecoin lawsuit”
March 31 (Reuters) – Carmaker Stellantis NV (STLAM.MI) said on Friday its Portugal plant would become the first assembly plant in the country to produce large series fully battery electric compact vans by 2025.
Stellantis’s Mangualde Production Center, which has made over 1.5 million vehicles, will produce battery electric light commercial vehicles for Citroën, Fiat, OPEL and Peugeot, the company said in a statement.
By Foo Yun Chee
BRUSSELS, March 31 (Reuters) – Car services groups on Friday warned a stalled EU proposal to ensure fair access to valuable vehicle data could pave the way for unfair competition from U.S. and Chinese tech companies.
The vehicle data tussle between carmakers and a coalition of insurers, leasing companies and repair shops underscores the huge potential of the connected car market, which consultancy Fortune Business Insights says could grow to 250 billion-400 billion euros ($272 billion-$435 billion) by 2030.
Continue reading “Car services groups warn of unfair competition as EU data plan stalls”
DETROIT, March 31 (Reuters) – General Motors (GM.N) plans to phase out widely-used Apple CarPlay and Android Auto technologies that allow drivers to bypass a vehicle’s infotainment systems, shifting instead to built-in infotainment systems developed with Google for future electric vehicles.
Apple CarPlay and Android Auto systems allow users to mirror their smartphone screens in a vehicle’s dashboard display.
Continue reading “GM plans to phase out Apple CarPlay in EVs, with Google’s help”
By David Shepardson and David Lawder
WASHINGTON, March 31 (Reuters) – The U.S. Treasury Department on Friday unveiled stricter electric vehicle tax rules that will reduce or cut tax credits on some zero-emission models but grant buyers another two weeks before the new requirements take effect.
The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and part of President Joe Biden’s effort to make 50% of U.S. new vehicle sales by 2030 EVs or plug-in hybrids.
Continue reading “US unveils stricter EV tax credit rules to take effect April 18”
March 31 (Reuters) – Tesla Inc (TSLA.O) has been sued by a Black former general manager who says he was fired for pushing back against comments by his white supervisor that he claims were racist, the latest in a series of race bias cases against the world’s most valuable automaker.
John Goode, who oversaw a Tesla service center near Atlanta, filed a lawsuit in San Francisco federal court on Thursday claiming a regional manager blocked him from consideration for a promotion before having him fired on false pretenses on March 3.
Continue reading “Tesla faces new race bias claims while a separate trial wraps up”
MOSCOW, March 31 (Reuters) – Russia and Toyota (7203.T) said on Friday that the Japanese carmaker’s factory in St Petersburg had been handed over to state entity NAMI, with Moscow snapping up more assets from global automakers leaving Russia over the conflict in Ukraine.
“Toyota’s production site in St Petersburg has… been transferred to the state,” Russia’s Ministry of Industry and Trade said in a statement.
Continue reading “Japan’s Toyota hands St Petersburg plant over to Russian state”
