MILAN, June 27 (Reuters) – Stellantis (STLAM.MI) launched a ‘Charging & Energy’ business unit on Tuesday to make it easier to keep electric vehicles on the road and cash in on an expanding range of services around greener mobility.

Continue reading “Stellantis aims to relieve ‘charging anxiety’ with new service for EV users”

June 27 (Reuters) – British luxury carmaker Aston Martin (AML.L) unnerved investors on Tuesday by leaving out a sales volume target as it stuck to its medium-term financial goals.

Shares in the London-listed firm fell 4.3% to 346 pence by 0750 GMT.

Continue reading “Aston Martin’s shares skid after it drops sales volume target”

NEW YORK, June 27 (Reuters) – Lordstown Motors (RIDE.O) filed for bankruptcy protection on Tuesday and put itself up for sale after the U.S. electric truck manufacturer failed to resolve a dispute over a promised investment from Taiwan company Foxconn.

Lordstown, named after the Ohio town where it is based, filed for Chapter 11 protection in Delaware and simultaneously took legal action against Foxconn.

In an complaint filed in bankruptcy court, Lordstown accused the electronics company of fraudulent conduct and a series of broken promises in failing to abide by an agreement to invest up to $170 million in the electric-vehicle manufacturer.

Continue reading “Lordstown Motors files bankruptcy, sues Foxconn”

TOKYO, June 27 (Reuters) – Nissan Motor (7201.T) shareholders on Tuesday backed Chief Executive Makoto Uchida and other board nominees at its first annual general meeting since reaching a new deal with alliance partner Renault (RENA.PA).

The shareholder meeting has taken place amid new ructions for the automaker’s management. Nissan is investigating claims that Uchida carried out surveillance of deputy Ashwani Gupta, sources have said. Gupta has left the company as of Tuesday.

Continue reading “Nissan shareholders back board at first AGM since striking alliance deal”

June 26 (Reuters) – British luxury carmaker Aston Martin (AML.L) has reached a deal that will give U.S. electric vehicle (EV) maker Lucid Group (LCID.O) a 3.7% stake in the company in return for access to its “high performance” technology, Aston Martin said on Monday.

Subject to shareholder approval, Aston Martin will issue about 28.4 million new ordinary shares to Lucid Group. It will also make phased cash payments to Lucid totalling about $232 million.

Continue reading “Aston Martin turns to US EV company Lucid for high-tech help”

MELBOURNE, June 26 (Reuters) – Element 25 Ltd (E25.AX) said on Monday it will supply manganese sulphate to General Motors (GM.N) as the automaker looks to secure supply of battery minerals for its North American electric vehicles, sending the miner’s shares up more than 20%.

Continue reading “Australia’s Element 25 to supply GM with manganese sulphate, shares jump”

PTI – Union minister Nitin Gadkari on Sunday said new vehicles that run entirely on ethanol will be introduced. Speaking at an event in Nagpur, the Minister of Road Transport and Highways recalled he recently met the chairman of Mercedes Benz company that launched an electric vehicle.

WASHINGTON, June 24 (Reuters) – U.S. auto safety regulators said on Saturday they are investigating Ford Motor’s (F.N) prior recalls of 710,000 Explorer SUVs over power loss reports to determine if the fix is adequate.

The National Highway Traffic Safety Administration (NHTSA) noted the No. 2 U.S. automaker issued recalls in April 2022 and March on Ford Explorer SUVs from the 2020-2022 model years to address a rear axle horizontal mounting bolt that may fracture and cause the driveshaft to disconnect.

Continue reading “US opens probe into Ford Explorer recalls over power loss reports”

June 23 (Reuters) – A federal judge has ruled in favor of Volkswagen (VOWG_p.DE) in lawsuits brought against the automaker by two U.S. counties over its diesel emissions cheating scandal.

U.S. District Judge Charles Breyer in San Francisco ruled Thursday that Utah’s Salt Lake County and Florida’s Hillsborough County could not prove that Volkswagen violated their regulations against tampering with vehicles’ emission control systems. The counties can still appeal to the San Francisco-based 9th U.S. Circuit Court of Appeals.

Continue reading “Volkswagen prevails against US counties’ diesel emissions claims”

WASHINGTON, June 23 (Reuters) – United Auto Workers (UAW) union President Shawn Fain on Friday harshly criticized the U.S. Energy Department plan to lend $9.2 billion to a joint venture of Ford Motor (F.N) and South Korea’s SK On to build three U.S. battery plants.

Fain called the loan a massive “giveaway” with “no consideration for wages, working conditions, union rights or retirement security” that would help create low-paying jobs adding, “Why is Joe Biden’s administration facilitating this corporate greed with taxpayer money?”

Continue reading “UAW rips Biden administration on US loan to Ford joint venture battery plant”

June 23 (Reuters) – Palladium could extend this year’s near 30% price decline as the rapid rise of electric vehicles threatens to hammer demand for the autocatalyst metal at a time broader economic weakness and chart factors are also weighing.

Spot palladium hit a four-year low of $1,269.09 an ounce on Thursday, having fallen more than 60% from a record high of $3,440.76 scaled in 2022 as the war in Ukraine unfolded.

Continue reading “Palladium in retreat on EV prospects, growth risks”

WASHINGTON June 23 (Reuters) – Honda Motor (7267.T) is recalling 1.3 million vehicles worldwide due to a potential issue with the rearview camera image, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Friday.

The recall covers some 2018-2023 Odyssey, 2019-2022 Pilot, and 2019-2023 Passport vehicles. Due to a faulty communication coaxial cable connector, the rearview camera image may not appear on the display.

Continue reading “Honda recalling 1.3 million vehicles worldwide for rear camera issue”

TOKYO, June 24 (Reuters) – Nissan (7201.T) has launched an investigation into claims by a senior adviser that Chief Executive Makoto Uchida carried out surveillance of his deputy Ashwani Gupta, four people with direct knowledge of the matter said.

The surveillance claims, first reported by the Financial Times, were made by Hari Nada, 58, a senior adviser at Nissan, in a letter dated April 19 to the independent directors on the Japanese automaker’s board.

Continue reading “Exclusive: Nissan investigates claims CEO put deputy under surveillance”

June 23 (Reuters) – Washington state plans to require electric vehicle charging companies to include Tesla’s plug if they want to be part of a state program to electrify highways using federal dollars, an official told Reuters on Thursday.

Washington follows the move by Texas to mandate Tesla’s technology, The North American Charging Standard (NACS), adding momentum to CEO Elon Musk’s hope of making it the national charging technology.

Continue reading “Exclusive: Washington state plans to mandate Tesla’s charging plug”

PTI – US-based private equity major TPG Capital on Friday sold its entire 11.25 %stake in automobile dealership chain Landmark Cars for INR 293 crore through an open market transaction. With this transaction, TPG has exited the automobile dealership company.

DETROIT, June 22 (Reuters) – As the auto industry scrambles to produce more affordable electric vehicles, whose most expensive components are the batteries, lithium iron phosphate is gaining traction as the EV battery material of choice.

The popularity of the chemical compound known as LFP is due partly to environmental and geopolitical concerns. But technological advances have also reduced the performance gap with more widely used materials such as nickel and cobalt.

Continue reading “Analysis: For EV batteries, lithium iron phosphate narrows the gap with nickel, cobalt”

WASHINGTON, June 22 (Reuters) – The U.S. Energy Department on Thursday said it intends to loan a joint venture of Ford Motor (F.N) and South Korean battery maker SK On up to $9.2 billion to help finance construction of three new battery manufacturing plants in Tennessee and Kentucky.

The conditional commitment for the low-cost government loan for the Blue Oval SK joint venture comes from the government’s Advanced Technology Vehicles Manufacturing (ATVM) loan program. SK On is a unit of South Korea’s SK Innovation (096770.KS). The joint venture is building three battery manufacturing facilities in Kentucky and Tennessee capable of collectively producing more than 120 gigawatt hours annually, the Energy Department said.

Continue reading “Ford, SK joint venture set to receive $9.2 billion US government loan for battery plants”

June 22 (Reuters) – Interest and investment in lithium iron phosphate (LFP) battery cells and materials, used to power electric vehicles, continue to climb in the United States. LFP is a lower-cost competitor to nickel cobalt manganese cells.

Seven companies have committed more than $14 billion in future LFP manufacturing facilities in the U.S., with others, including Tesla (TSLA.O) and Rivian (RIVN.O), reportedly considering similar investments.

Continue reading “FACTBOX As electric cars take off, makers pledge $14.3 billion for US lithium iron phosphate”

June 22 (Reuters) – Europe is seeking to lure electric vehicle (EV) battery makers to build factories in the region as the bloc – home to carmakers such as Volkswagen and Stellantis – tries to cut its dependency on Asia and win a green subsidy race with the United States.

Below is an overview of factories in Europe, including annual capacity and production timelines where available.

Continue reading “Factbox: Companies invest in EV battery factories in Europe”

June 21 (Reuters) – Tesla Inc (TSLA.O) has returned to the S&P 500 ESG index, the sustainable investing-focused market index, after the electric car maker added environmental disclosures.

Tesla was cut from the index last year because of issues including claims of racial discrimination and crashes linked to its autopilot vehicles. The removal prompted Chief Executive Elon Musk to responds with tweets such as “ESG is a scam”.

Continue reading “Tesla returns to S&P 500 ESG index with more environmental disclosures”

SAN FRANCISCO, June 21 (Reuters) – Rivian (RIVN.O) has acquired Swedish EV route planning app maker Iternio to add its technology to its electric pickups and sport utility vehicles, as well use its data to better expand its own charging network, its CEO told Reuters on Wednesday.

Rivian CEO RJ Scaringe did not disclose the value of the deal but said it was closed in the first quarter.

Continue reading “Rivian acquires route planning app maker Iternio – CEO”

PTI – Punjab’s transport minister Laljit Singh Bhullar has said the state government will provide incentives worth around INR 300 crore in the next three years to promote the adoption of electric vehicles (EVs) and reduce pollution. These incentives will be provided on electric two- wheelers, e-cycles, e-rickshaws, e-autos and electric light commercial vehicles.

LONDON, June 21 (Reuters) – Automakers, including Tesla and Mercedes, are rushing to lock in graphite supply from outside dominant producer China, as demand for electric vehicle (EV) batteries outpaces other uses for the mineral for the first time due to soaring EV sales.

Continue reading “Analysis: Auto firms race to secure non-Chinese graphite for EVs as shortages loom”

BEIJING/SHANGHAI, June 21 (Reuters) – China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package of tax breaks over four years for electric vehicles (EVs) and other green cars, its biggest yet for the industry as it seeks to boost slower auto sales growth.

Continue reading “China unveils $72 billion tax break for EVs, other green cars to spur demand”

BERLIN, June 21 (Reuters) – Germany’s top carmakers have been accused by a Berlin-based human rights group of not showing they have carried out due diligence to prevent the risk of forced labour being used by their suppliers in Xinjiang, China, a potential violation of Germany’s new supply chain law.

The group, the European Center for Constitutional and Human Rights (ECCHR), has filed a complaint against Volkswagen (VOWG_p.DE), BMW (BMWG.DE) and Mercedes-Benz (MBGn.DE) with Germany’s export control office, it said on Wednesday.

Continue reading “German carmakers challenged over Xinjiang due diligence in rights group complaint”

SAN FRANCISCO/NEW DELHI, June 20 (Reuters) – Tesla (TSLA.O) chief executive Elon Musk said India’s Prime Minister Narendra Modi was pushing the car maker to make a “significant investment” in the country, adding that such an announcement was expected soon.

Continue reading “Tesla’s Musk eyes significant India investments after meeting Modi”

TOKYO, June 21 (Reuters) – Japanese automaker Mazda Motor (7261.T) and the energy unit of Panasonic Holdings (6752.T) will start talks to set up a battery supply partnership for electric vehicles (EVs), the companies said on Wednesday.

Such an effort on lithium-ion batteries is likely to carry Mazda a step closer to ramping up production of EVs, in a 1.5-trillion-yen ($10.6-billion) spending plan it unveiled in November to drive electrification of vehicles.

Continue reading “Mazda eyes EV battery supply partnership with Panasonic Energy”

une 20 (Reuters) – Tesla (TSLA.O) scored a series of victories for its charging technology on Tuesday, capped by Texas saying it would require electric vehicle charging companies to include both Tesla’s standard as well as the nationally recognized CCS if they want to be part of a state program to electrify highways using federal dollars.

Earlier in the day, Reuters was first to report both that electric pickup truck maker Rivian was backing Tesla and that charger maker BTC Power would support the standard. Those announcements follow decisions by GM (GM.N) and Ford (F.N) to add Tesla charging technology, shunning efforts by the Biden administration to make the Combined Charging System (CCS) the dominant charging standard in the United States.

Continue reading “Exclusive: Tesla wins as Texas requires state-backed charging stations to include its plug”

SAN FRANCISCO, June 20 (Reuters) – Electric vehicle maker Rivian (RIVN.O) said on Tuesday it will adopt Tesla’s (TSLA.O) charging standard, giving Rivian customers access to the biggest U.S. charging network and adding momentum to Tesla’s bid to set the industry standard.

Rivian said its customers will be able to access 12,000 Tesla Superchargers with adapters in the United States and Canada as early as spring 2024. The company, which has its own small network of fast chargers, will also make a Tesla-style charging port standard on its vehicles starting in 2025.

Continue reading “Rivian to adopt Tesla’s charging standard in EVs and chargers”

WASHINGTON, June 20 (Reuters) – Tesla (TSLA.O) urged the Biden administration to finalize significantly stricter heavy-duty emissions limits than proposed in April, arguing larger vehicles were being electrified much faster than envisioned and would lead to bigger pollution cuts.

The electric vehicle (EV) manufacturer said in comments made public on Tuesday that the Environmental Protection Agency’s (EPA) proposal did not go far enough, should be as stringent as California’s truck emissions regulations and eliminate credits that make it easier to comply.

Continue reading “Tesla urges EPA to finalize tougher US heavy-duty emissions cuts”

PTI – The government on Tuesday proposed new base premium rates for third- party motor insurance for different categories of vehicles, including two- wheelers, passenger cars and commercial vehicles, for 2023-24 fiscal. As per a draft notification issued by the Ministry of Road Transport and Highways (MoRTH), the base premium rates for Motor Third Party Insurance Cover have been proposed at INR 2,094 for private cars below 1,000 cc, INR 3,416 for cars (between 1000-1500 cc) and INR 7,897 for cars exceeding 1500 cc.

WASHINGTON, June 19 (Reuters) – A bipartisan group of U.S. lawmakers will urge the CEOs of Ford Motor (F.N) and General Motors (GM.N) to shrink reliance on China auto parts, particularly electric vehicle batteries, sources told Reuters on Monday.

Four lawmakers who are part of the House of Representatives China Select Committee will travel to Detroit Tuesday to meet with Ford’s Jim Farley and GM’s Mary Barra, the sources said.

Continue reading “US lawmakers to urge automakers to cut reliance on China”

TOKYO, June 20 (Reuters) – Japanese automaker Suzuki Motor Corp (7269.T) said on Tuesday it had reached an agreement with SkyDrive Inc to make “flying cars”.

The companies will use a Suzuki Group factory in central Japan to make electric vertical take-off and landing (eVTOL) aircraft and aim to begin production by around spring next year, Suzuki said in a statement.

Continue reading “Japan’s Suzuki to make ‘flying cars’ with SkyDrive”