HAMBURG, June 30 (Reuters) – Ford (F.N) has found what it described as a major international investor for the U.S. carmaker’s German plant in Saarlouis and has signed initial agreements together with the western state of Saarland, it said at a works meeting at the plant on Friday.

“This is an excellent basis for further negotiations, with the potential to create around 2,500 jobs in Saarlouis,” said Martin Sander, head of the company’s German unit Ford Werke. Continue reading “Ford finds international investor for German plant in Saarlouis”

SAN FRANCISCO, June 30 (Reuters) – Tesla (TSLA.O) is set to report record vehicle deliveries, after the top electric vehicle maker increased discounts and other incentives to boost sales in the face of economic uncertainty and rising competition.

Tesla is expected as early as this weekend to report global deliveries of 445,000 vehicles in April to June, according to the average estimates of nine analysts by Refinitiv. That would be an increase of 5% from 422,875 the preceding quarter. Continue reading “Tesla set to report record quarterly vehicle deliveries, fueled by incentives”

June 30 (Reuters) – A severe storm that hit a Mercedes-Benz (MBGn.DE) plant in the central German city of Kassel last week is estimated to have caused damage in the mid-double-digit-million euro range, said Daimler Truck (DTGGe.DE) in a statement on Friday.

The June 22 storm and flooding that followed damaged roofs, buildings and offices at the plant, which is the global competence centre for electric drive systems and conventional commercial vehicle axles for Daimler Truck, it said. Continue reading “Daimler Truck sees multi-million euros in storm damage at plant”

PARIS, June 30 (Reuters) – MG Motor, owned by Chinese company SAIC Motor (600104.SS), on Friday announced a new leasing offer whereby drivers in France can get for 99 euros ($107.6) a month its MG4 electric car, matching a scheme the French government would like to see benefiting cars made in Europe.

The offer runs from July 1 through to August 31 and is done in conjunction with MG Motor’s French banking partner Credit Agricole Consumer Finance (CAGR.PA). It is based on people getting a “super bonus” incentive of 7,000 euros for low income buyers and also includes a 2,500 euros public aid paid in exchange for scrapping an old thermal engine car.

Continue reading “SAIC’s MG Motor brand launches new electric vehicle leasing offer in France”

June 30 (Reuters) – Electric-car maker Xpeng Inc priced its latest G6 sport utility vehicle about 20% lower than Tesla’s (TSLA.O) Model Y in China, sending its U.S.-listed shares up 7.6% in premarket trading on Friday.

U.S.-listed shares of its peers Li Auto and Nio also rose 0.3% and 2.2%, respectively, in trading before the bell. Continue reading “Chinese EV maker Xpeng’s shares jump after pricing SUV below Tesla Model Y, lifts peers”

MILAN, June 30 (Reuters) – Stellantis (STLAM.MI) has signed an offtake and equity investment agreement with Australia-listed Kuniko (KNI.AX), the latest of a string of deals aiming to give the carmaker stable supply of key materials for vehicle batteries.

Based on the binding agreement, the Franco-Italian automaker will get 35% of future production of battery-grade nickel sulphate and cobalt sulphate from Kuniko’s exploration projects in Norway, for nine years, the two companies said on Friday in a joint statement. Continue reading “Stellantis signs deal with Kuniko for supply of battery materials”

Summary

• Ships running on biofuels account for 2% of Maersk volumes
• Fashion biggest sector choosing its ECO Delivery contracts
• Company hopes industry will help push for methanol fuel

COPENHAGEN, June 30 (Reuters) – Fashion brands are a key driver of demand for green shipping fuels, according to shipping group Maersk (MAERSKb.CO), as the sector faces pressure from consumers and regulators to reduce their climate footprint. Continue reading “Fashion industry driving demand for green shipping, Maersk says”

June 29 (Reuters) – Volkswagen (VOWG_p.DE) is in talks with Tesla (TSLA.O) to adopt its North American Charging Standard (NACS) technology, while the German automaker’s charging network unit Electrify America has already agreed to use the system.

The announcement comes as a slew of automakers and charging equipment makers choose Tesla’s charging design on concerns of losing out on customers if they offer only the Combined Charging System (CCS) design, which is backed by automakers like Volkswagen and Hyundai Motor (005380.KS).

Continue reading “Volkswagen in talks with Tesla to adopt its charging standard”

PTI – The Internet and Mobile Association of India (IAMAI) on Wednesday said the implementation of the Delhi Motor Vehicle Aggregator and Delivery Service Provider Scheme by the city government could adversely impact the livelihoods of countless gig workers across the national capital. The scheme was approved by Chief Minister Arvind Kejriwal last month.

BERLIN, June 29 (Reuters) – Germany is to earmark up to 900 million euros ($983 million) in subsidies to expand electric vehicle charging stations for households and companies, the transport ministry said on Thursday.

Europe’s biggest economy currently has some 90,000 public charging points and aims to have one million by 2030 in hopes of boosting growth in electromobility as it targets carbon neutrality by 2045.

Continue reading “Germany to earmark 900 million euros in subsidies for e-car charging systems”

FRANKFURT, June 29 (Reuters) – Volkswagen’s (VOWG_p.DE) Audi named the German group’s strategy chief as its new CEO on Thursday, as the luxury carmaker seeks to catch up with rivals in the dash towards electrification, including in China, the world’s top car market.

Gernot Doellner, who replaces Markus Duesmann, will become CEO with effect from September, Audi said, after the luxury automaker’s supervisory board passed a resolution on Thursday.

Continue reading “Audi names Volkswagen strategy chief Doellner as new CEO”

June 29 (Reuters) – Swedish electric vehicle (EV) maker Polestar said on Thursday it has signed an agreement with Tesla (TSLA.O) to adopt the EV maker’s Supercharger network in the United States and Canada.

Starting 2025, new Polestar vehicles sold in North America will be equipped with Tesla’s North American Charging Standard (NACS) charging port by default, the company said.

Continue reading “Polestar to adopt Tesla’s supercharger network in the US, Canada”

MILAN, June 29 (Reuters) – Luxury sports automaker Ferrari (RACE.MI) on Thursday unveiled two new plug-in hybrid models, produced in limited series and hitting the top end of the its price range.

Based on 2019’s SF90 Stradale supercar, the Prancing Horse’s first ever series hybrid car, the two new road-homologated models are inspired by Ferrari’s XX programme.

Continue reading “Ferrari launches two hybrid models in limited series based on SF90 supercar”

PARIS, June 29 (Reuters) – French minerals group Imerys (IMTP.PA) on Thursday announced plans to mine lithium in the UK and said the site could supply two-thirds of batteries for Britain’s electric vehicles by 2030.

Imerys aims to produce around 20,0000 tonnes a year of lithium carbonate equivalent by the end of the decade at its mining site in Cornwall, southwest England, in partnership with British Lithium.

Continue reading “Imerys to produce lithium in UK for EV batteries”

June 29 (Reuters) – Lordstown Motors (RIDE.O) said on Thursday it had received a delisting notice from the Nasdaq, days after the U.S. electric truck maker filed for bankruptcy protection.

The company received the notice from Nasdaq on June 28, notifying its failure to meet listing rules and saying that trading in its class A common stock would be suspended on July 7, 2023, according to a filing.

Continue reading “Lordstown Motors gets Nasdaq delisting notice”

TOKYO, June 29 (Reuters) – Japanese automaker Toyota Motor (7203.T) on Thursday reported a 10% jump in global sales for May from a year earlier, benefiting from growth at home and other key markets on a recovery in the supply of chips and other parts.

The company sold 838,478 vehicles globally last month, including its luxury car brand Lexus, compared to 761,466 vehicles in May 2022, when sales took a heavy hit from the stuttering parts supply because of the pandemic.

Continue reading “Toyota’s May global sales jump as parts supply shortage eases”

June 29 (Reuters) – Renault (RENA.PA) raised on Thursday its financial outlook for full-year 2023 following the success of its new launches, in particular of SUV Austral and Dacia Jogger models.

The French car maker, which has been engaged for several years in a deep restructuring and a strategic repositioning to restore its margins, said it is now aiming for an operating margin of 7% to 8% by 2023, up from a previous target of more than 6%.

Continue reading “Renault raises 2023 outlook following success of new launches”

June 28 (Reuters) – Carmaker Stellantis will require union employees to work mandatory overtime at its Warren Truck assembly and Jefferson North factory in Michigan, to boost Jeep SUV production ahead of a potential strike deadline in September, according to a document shared with Reuters.

Stellantis told workers at both facilites the plants will be in “critical status” from July 5 through October 2. Under the current United Auto Workers (UAW) contract, a plant in critical status can run up to 7 days a week for a period of 90 days and require union employees to work more than 9 hours of overtime, according to a notice sent to employees and reviewed by Reuters.

Continue reading “Stellantis puts Michigan plants in ‘critical status’ ahead of union talks”

June 28 (Reuters) – Nissan (7201.T) installed a camera surveillance system at the home of former executive Ashwani Gupta so the automaker’s internal security team could monitor him, according to the preliminary findings of an investigation into the surveillance, two people with knowledge of the report said.

Nissan has been investigating a claim that Chief Executive Makoto Uchida carried out surveillance of the carmaker’s second- in-command to acquire leverage to remove him from the company because of Gupta’s opposition to some terms in a new partnership deal with Renault (RENA.PA).

Continue reading “Exclusive: Nissan installed camera to monitor No. 2’s home, sources say”

WASHINGTON/DETROIT, June 28 (Reuters) – President Joe Biden’s administration on Wednesday said it intends to invest $2 billion from last year’s Inflation Reduction Act to accelerate domestic manufacturing of electric vehicles and resuscitate plants that are struggling.

Speeding grants and other subsidies to fund conversion of existing auto plants to build electric vehicles could help the White House blunt criticism from auto makers and the United Auto Workers (UAW) union over proposed environmental rules aimed to help usher in the EV era.

Continue reading “Biden administration aims $2 billion in grants at US electric vehicle transition”

June 28 (Reuters) – The trade group representing nearly all major automakers wants the U.S. Environmental Protection Agency to soften its proposal to sharply cut vehicle emissions through 2032 saying it is “neither reasonable nor achievable.”

The EPA said in April the proposed 2027-2032 standards would cut emissions by 56% compared to the existing 2026 requirements, or 13% annual average pollution cuts.

Continue reading “Auto industry seeks to soften Biden vehicle emissions proposal”

PARIS, June 28 (Reuters) – Stellantis (STLAM.MI) has informed unions and local officials of its plans to end operations at its manual gearbox production site in Vienna-Aspern in Austria, a company spokesperson said on Wednesday.

The Italian-French carmaker will now engage in discussions on how to support the 300 employees at the mechanical gearbox plant, the spokesperson added.

Continue reading “Stellantis to end gearbox production at Vienna plant, 300 jobs impacted”

June 28 (Reuters) – Exxon Mobil (XOM.N) has agreed to develop more than 6,100 lithium-rich acres in Arkansas with Tetra Technologies Inc (TTI.N), the second move this year by the oil giant for control of assets needed to produce the electric vehicle battery metal.

Exxon’s rapid expansion into the lithium sector comes amid growing interest by traditional energy companies and others into emerging technologies that aim to boost global supply of the ultralight metal.

Continue reading “Exclusive: Exxon Mobil expands lithium bet with Tetra Technologies deal”

June 28 (Reuters) – Shares in Volkswagen (VOWG_p.DE) inched higher on Wednesday, recovering slightly from a selloff the day before when the automaker played down reports it will cut EV output in Germany over the next two weeks because of lower than expected demand.

Volkswagen “expects the trend in BEV (battery electric vehicle) orders, which already improved in May, to gradually stabilise in the coming months,” spokesperson Christopher Hauss told Reuters.

Continue reading “Volkswagen shares recover after EV production cut reports”

PTI – Ashok Leyland expects the domestic commercial vehicle industry to grow by 8-10 per cent this fiscal aided by record government spending on infrastructure projects and strong replacement demand emanating from core industries. In his address to shareholders in the company’s Annual Report for 2022-23, Ashok Leyland Chairman Dheeraj G Hinduja said the commercial vehicle sales this fiscal were expected to exceed the previous peak attained in 2018-19.

Continue reading “Expect commercial vehicle industry to grow by 8-10 per cent this fiscal: Ashok Leyland”

LONDON, June 28 (Reuters) – Zeekr, Geely Automobile’s (0175.HK) electric brand, said on Wednesday that two of its all-electric luxury cars are available for pre-order in the Netherlands and Sweden, joining a growing number of Chinese EV makers launching vehicles in Europe.

Deliveries for the Zeekr 001 estate and the Zeekr X SUV are set to begin in the autumn, the company said. Pricing for the Zeekr 01 starts at 59,490 euros ($65,076) including taxes, while the Zeekr X starts 44,990 euros.

Continue reading “China’s EV maker Zeekr opens orders for two luxury cars in Sweden, Netherlands”

TOKYO, June 28 (Reuters) – Nissan Motor Co (7201.T) has decided to not fill in the chief operating officer position vacated by Ashwani Gupta under a new management structure, the Japanese automaker said on Wednesday.

Responsibilities previously carried out by the operations chief will be taken over by other executives, it said.

Continue reading “Nissan will not fill COO position left open by Gupta’s departure”

SHANGHAI, June 28 (Reuters) – Tesla (TSLA.O) is set to hit another record quarter with its China sales while it faces mounting pressure from local competitors such as BYD eating into its share in the world’s largest auto market, analysts say.

The U.S. automaker could sell 155,000 cars in China during April to June, an increase of 13% from its record first quarter, according to estimations by Shi Ji, an analyst with China Merchants Bank International Securities.

Continue reading “Tesla to hit record quarterly sales in China even as market share shrinks, analysts say”

SINGAPORE/HANOI, June 28 (Reuters) – Vietnamese conglomerate Truong Hai Group, founded by tycoon Tran Ba Duong, is considering bringing in an investor into its automobiles arm Thaco Auto in a deal that could value the unit at around $5 billion, two people familiar with the matter said.

Truong Hai Group is in talks with a financial advisor to explore the potential sale of a minority stake in Thaco Auto after receiving interests from regional financial investors and corporates, the sources said.

Continue reading “Exclusive: Vietnam’s Truong Hai considers stake sale in $5 billion automotive arm”

PTI – Tata Motors expects electric vehicles to account for half of its passenger vehicle sales by 2030, according to the company’s Annual Report for 2022-23. The company, which has set a target to attain net zero emission by 2040, said it is “spearheading this mission with the support of our Gen 3 EV architecture strategy.”

June 28 (Reuters) – Small pickups fell short of the standards expected in protecting the passengers on the rear seat of the vehicle, tests conducted by Insurance Institute for Highway Safety (IIHS) showed.

In the crash test conducted, the passenger dummy on the rear seat came dangerously close to the front seat back, recording a risk of neck or chest injuries.

Continue reading “Small pickups fall short in rear seat safety, study shows”

June 28 (Reuters) – The Indian government is preparing a new multibillion-dollar subsidy scheme for companies making electricity grid batteries as part of its transition to clean energy, the Financial Times reported on Wednesday, citing a power ministry proposal.

The draft proposal for a production-linked incentive subsidy scheme would offer 216 billion rupees ($2.63 billion) from this year through to 2030 for companies to set up manufacturing capacity for battery cells in India, the FT reported.

Continue reading “India gears up for multibillion-dollar battery subsidies, Financial Times reports”