INDIA
MG Motor India expands its network in Hyderabad; adds three more touchpoints in a day ThePrint
Volkswagen India rolls out new brand communication Autocar
New Volkswagen Tiguan ready for global debut Autocar Continue reading “WAF Auto News | The Auto World This Week (25th August 2023)”
DETROIT, Aug (Reuters) – Hybrid gasoline-electric vehicles may not be dying as fast as some predicted in the auto sector’s rush to develop all-electric models.
Ford Motor (F.N) is the latest of several top automakers, including Toyota (7203.T) and Stellantis (STLAM.MI), planning to build and sell hundreds of thousands of hybrid vehicles in the U.S. over the next five years, industry forecasters told Reuters.
The companies are pitching hybrids as an alternative for retail and commercial customers who are seeking more sustainable transportation, but may not be ready to make the leap to a full electric vehicle. Continue reading “Focus: Gas-electric hybrid vehicles get a boost in the US from Ford, others”
Summary
SINGAPORE/BENGALURU, Aug 24 (Reuters) – Malaysian conglomerate Sime Darby (SIME.KL) said it is buying a majority stake in industrial group UMW Holdings (UMWS.KL) for 3.57 billion ringgit ($768.90 million) in a deal that could spearhead the country’s electric vehicle (EV) journey.
The 61.2% stake in UMW is being sold by the country’s top asset manager Permodalan Nasional Bhd (PNB), the biggest shareholder in both Sime Darby and UMW. Continue reading “Malaysia’s EV push accelerates as Sime Darby to buy majority stake in UMW”
BERLIN, Aug (Reuters) – Volkswagen (VOWG_p.DE) has begun purchasing strategically important chips it believes will be in short supply globally directly from 10 manufacturers including NXP Semiconductors (NXPI.O), Infineon Technologies (IFXGn.DE) and Renesas Electronics (6723.T) the carmaker said on Wednesday.
The German carmaker, which previously relied on its component suppliers to purchase chips, began striking direct deals with chipmakers last October to ensure its supply was secure, according to Karsten Schnake, head of a Volkswagen-wide taskforce for component supply founded in 2022. Continue reading “Volkswagen strikes direct supply deals for chips to avoid global shortage”
HONG KONG, Aug (Reuters) – Xiaomi Corp (1810.HK) has won the approval of China’s state planner to manufacture electric vehicles (EVs), said two people with knowledge of the matter, marking a major step towards the smartphone maker’s goal of producing cars by early next year.
The National Development and Reform Commission (NDRC), which regulates new investments and production capacity in China’s auto industry, gave the nod for EV manufacturing to Beijing-based Xiaomi earlier this month, said the people. Xiaomi’s venture is only the fourth since end-2017 to win NDRC approval. Continue reading “Exclusive: China’s Xiaomi wins state planner nod to make EVs amid glut in autos”
HONG KONG, Aug (Reuters) – Zeekr, Chinese automaker Geely’s premium electric vehicle (EV) brand, will meet global investors from August-end to test appetite for a $1 billion U.S initial public offering (IPO), said people with direct knowledge of the matter.
It is hoping the share sale will yield a valuation of over $13 billion, as achieved during a private $750 million funding round in February, two people said. Continue reading “China EV maker Zeekr to start investor tour ahead of $1 bln US IPO -sources”
Aug (Reuters) – The U.S. workplace safety regulator said on Wednesday it was investigating a recent chemical solvent leak at an Ohio battery plant jointly owned by General Motors (GM.N) and South Korea’s LG Energy Solution (373220.KS).
The joint venture, Ultium Cells LLC, said on Wednesday it had discovered a cathode mixing slurry leak at its Ohio production facility and took immediate steps to isolate the cause and contain it. Continue reading “US agency probes chemical spill at battery plant owned by GM, LG Energy”
SEOUL, Aug (Reuters) – China’s BYD Co Ltd (002594.SZ) and South Korea’s KG Mobility Co Ltd (003620.KS) are in talks to jointly build an electric vehicle (EV) battery plant in South Korea, a source told Reuters on Wednesday.
The Chinese battery and EV maker and the South Korean automaker hope to secure stable battery supplies through the venture, said the source with direct knowledge of the matter, declining to be identified due to the sensitivity of the matter. Continue reading “BYD, KG Mobility in talks on battery joint venture in South Korea -source”
Aug (Reuters) – Italian carmaker Stellantis (STLAM.MI) is exploring options to partner with Chinese electric vehicle (EV) maker Zhejiang Leapmotor (9863.HK) as it tries to expand its presence in the world’s largest auto market, Bloomberg News reported on Wednesday.
Considerations for a tie-up are ongoing and no final decisions have been made, the report said, citing people familiar with the matter. Continue reading “Stellantis explores tie-up with Chinese EV maker Leapmotor – Bloomberg News”
Source : PTI | Adani TotalEnergies E-Mobility Limited (ATEL) will set up EV charging infrastructure with all-electric cab aggregator, Prakriti E-Mobility (Evera), the company said on Tuesday. “The collaboration will feature an integration of 200 EV charging points super hub in Delhi. This strategic partnership will be scaled up pan-India to encourage decarbonized mobility,” it said in a statement.
Adani TotalEnergies E-Mobility Limited (ATEL) is a wholly-owned subsidiary of Adani Total Gas Limited, the equal joint venture of Adani Group and French energy giant TotalEnergies. Continue reading “Adani TotalEnergies E-Mobility partners with Evera Cabs for charging hubs”
Source : PTI | Petrol pump owners in the national capital held a protest at Jantar Mantar on Wednesday, demanding the removal of value added tax (VAT) on petrol and diesel and revising their margins on sales. Representatives of various dealer welfare associations of petrol pump owners from other states also participated in the protest.
The protesters demanded the removal of VAT, terming it “disruptive”, and include petroleum products in the goods and services tax (GST) regime. Continue reading “Petrol pump owners in Delhi stage protest demanding removal of VAT, revision of margins”
Source : PTI | India’s top gas firm GAIL (India) Ltd plans to invest INR 30,000 crore in the next three years as it expands petrochemical capacity and scouts for LNG supplies globally, its chairman Sandeep Kumar Gupta said on Wednesday.
The nation’s top gas marketing and transportation firm is looking at liquefied natural gas (LNG) as a transport fuel, joining Essar-promoted GreenLine which operates the nation’s largest LNG-powered fleet of heavy commercial vehicles. Continue reading “GAIL to invest Rs 30,000 crore in next 3 years; scouts for LNG abroad”
Source : PTI | French auto major Renault is looking for a local supplier-based electric vehicle system in India, which will help them offer vehicles at affordable prices, according to a senior company official. Renault does not want to burden the customer with huge costs, generally associated with an Electric Vehicle (EV), the official said, adding that it is focusing on the mass market, with an eye on the middle and upper-middle classes.
“We need a lot of local suppliers for EVs because we want to go for a local supplier-based system. So, the cost of acquisition (for a buyer) becomes competitive,” Venkatram Mamillapalle, Chief Executive Officer and Managing Director of Renault India Operations, told PTI during a recent interaction. Continue reading “Looking for local supplier-based electric vehicle system in India to offer vehicles at lower prices: Renault”
WASHINGTON, Aug 22 (Reuters) – U.S auto safety regulators said Tuesday automakers can comply with a Massachusetts law requiring them to share vehicle data with independent repair shops, reversing course after previously objecting that it could make vehicles vulnerable to hacking.
The National Highway Traffic Safety Administration (NHTSA)
said automakers could safely share diagnostic data with independent shops using short-range wireless technology, but warned that using long-range wireless signals could potentially let hackers send dangerous commands to moving vehicles. Continue reading “US OKs state auto-repair law after raising hacking concerns”
Aug 22 (Reuters) – VinFast’s shares more than doubled on Tuesday to the highest since Vietnamese electric vehicle maker’s blowout Wall Street debut after Reuters reported that South Korea’s Star Group Industrial plans to open factory in Vietnam.
In the latest volatile session since its backdoor listing last week, VinFast’s stock was last up 127% at $40.24, giving it a market capitalization of $95 billion. The stock traded as high as $46.98 earlier in the session. Continue reading “VinFast shares more than double to highest since market debut”
NEW YORK, Aug 22 (Reuters) – Sigma Lithium (SGML.V), , which produces metal used in electric vehicle batteries, has sued a former co-chief executive officer, accusing him of stealing trade secrets to undermine the company’s effort to sell itself.
The complaint was filed on Monday in federal court in Manhattan against Calvyn Gardner, who until January was Sigma’s co-CEO with Ana Cabral-Gardner, who he is divorcing and who remains CEO. Luisa Valim, Gardner’s daughter-in-law, is also a defendant. Continue reading “Sigma Lithium, eyeing buyout, sues ex-CEO and daughter-in-law over trade secrets”
Source : PTI Automobile industry on Tuesday hailed India’s first crash testing programme Bharat NCAP, saying it will further elevate vehicle safety standards in the country and as an authentic and objective rating system it will help customers take informed purchase decisions.
Car market leader Maruti Suzuki India said it will offer at least three models for testing under the programme in the first lot itself, while others such as Hyundai Motor India, Mahindra & Mahindra and Renault also fully supported the programme. Continue reading “Bharat NCAP to help elevate vehicle safety standards in India: OEMs”
Summary
STOCKHOLM/LONDON, Aug 22 (Reuters) – Swedish lithium-ion battery producer Northvolt has raised $1.2 billion from investors including BlackRock (BLK.N) and several Canadian pension plans as it prepares to build new factories in Europe and North America, its finance chief told Reuters. Continue reading “Exclusive: Northvolt raises $1.2 billion in latest funding round for factory build out – CFO”
PRAGUE, Aug 22 (Reuters) – The Czech plant of Japan’s Toyota (7203.T) halted production due to a parts shortage caused by a fire at a local supplier, a spokesperson for the carmaker said on Tuesday.
“We had to stop production yesterday evening. This will of course have an effect on our production plan. It is not clear how long will the outage last,” said spokesman Tomas Paroubek. Continue reading “Toyota halts production at Czech plant due to parts shortage”
Summary
HANOI/SEOUL, Aug 22 (Reuters) – Korean and Chinese magnet firms, including an Apple supplier, are set to open factories in Vietnam, according to documents and people familiar with the plans, amid a push to diversify supply chains away from China and defend against Sino-U.S. tension. Continue reading “Exclusive: Rare earths magnet firms turn to Vietnam in China hedge”
BENGALURU/WASHINGTON, Aug 22 (Reuters) – The space race India aims to win this week by landing first on the moon’s south pole is about science, the politics of national prestige and a new frontier: money.
India’s Chandrayaan-3 is heading for a landing on the lunar south pole on Wednesday. If it succeeds, analysts and executives expect an immediate boost for the South Asian nation’s nascent space industry. Continue reading “India’s boom, Russia’s crunch: how money is shaping a new space race”
NEW DELHI, Aug 22 (Reuters) – India’s new safety rating system for passenger cars will be implemented from Oct. 1, the country’s Ministry of Road Transport and Highways said on Tuesday.
The world’s third-largest car market, India has some of the deadliest roads, where some 150,000 people die in accidents every year, according to government data. Continue reading “India’s new safety ratings for passenger cars to start on Oct. 1”
WASHINGTON, Aug (Reuters) – U.S. auto safety regulators on Monday proposed expanding and enhancing reminder systems to boost seat belt use and reduce traffic crash deaths and injuries that have been rising in recent years.
The proposed new warning system by the National Highway Traffic Safety Administration (NHTSA) would extend to both rear seat and front seat passengers and expand current warnings for the driver. It would apply to passenger cars, trucks and most buses that weigh 10,000 pounds or less. Continue reading “US proposes requiring passenger, rear seat belt reminder systems”
BERLIN, Aug (Reuters) – German auto parts supplier Continental (CONG.DE) is considering the sale of the car division currently bundled within ContiTech, manager magazin reported on Monday, citing company sources.
The possible sale would be part of a wider reorganisation of the company being planned by Supervisory Board Chairman Wolfgang Reitzle and the executive board around CEO Nikolai Setzer, the publication added, citing the sources. Continue reading “Continental considers sell-off of ContiTech car business – manager magazin”
Aug (Reuters) – Two former Tesla (TSLA.O) employees were behind a data breach that compromised personal information of more than 75,000 people including staff, the electric carmaker said in a legal disclosure.
Data exposed by the breach was leaked to German media outlet Handelsblatt, Steven Elentukh, Tesla’s data privacy officer, said in a submission to Maine’s attorney general office. Continue reading “Tesla says two ex-employees behind May data breach”
Source : PTI | Tata Power Renewable Energy Limited (TPREL) on Monday said it will supply 9 megawatt of green energy to Tata Motors’ plant in Pantnagar as part of an agreement. A power purchase agreement (PPA) has been signed with Tata Motors Limited Pantnagar plant in Uttarakhand, Tata Power said in a statement.
The project will be commissioned within six months from the PPA execution date. It will utilise rooftop and ground-mounted units for installation, TPREL said. Continue reading “TPREL to supply 9 MW green energy to Tata Motors plant in Uttarakhand”
Source : PTI | The power usage for electric vehicles (EVs) rose more than three-fold from 4.56 million units in September last year to 14.44 million units in July 2023, the Maharashtra State Electricity Distribution Company Limited said on Monday. State-run MSEDCL, also called Mahavitaran, is the nodal agency for providing charging stations for EVs, as well as other works like helping the private sector come up with such infrastructure, and assisting the government in policies regarding the sector, an official release said.
Quoting MSEDCL CMD Lokesh Chandra, the release said the power usage for EVs in Maharashtra was 4.56 million units in September 2022, which rose to 6.10 million units in March and further to 14.44 million units in July this year. Continue reading “Electricity usage by EVs rises from 4.56 mn units in Sep last year to 14.44 mn units in July 2023, says MSEDCL”
SAN FRANCISCO, Aug (Reuters) – California’s autos regulator said on Friday it is investigating “recent concerning incidents” involving autonomous vehicles operated by General Motors (GM.N) unit Cruise in San Francisco and asked the company to take half its robotaxis off the roads.
The statement from California Department of Motor Vehicles (DMV) came after a Cruise robotaxi was involved in a crash with an emergency vehicle in San Francisco late on Thursday, the latest accident involving the self-driving cars. Continue reading “California regulator probes crashes involving GM’s Cruise robotaxis”
TANGERANG, Indonesia, Aug 21 (Reuters) – Indonesia’s government used the Jakarta auto show to double down on plans to drive production and sales of electric vehicles in Southeast Asia’s largest auto market, but buyers are not sold yet.
The price premium on electric vehicles (EVs), questions about the availability of charging stations and doubts about new brands are reasons to hold back for now, said visitors to the auto show in Tangerang, on the outskirts of Jakarta. Continue reading “As Indonesia pushes EV dream, car shoppers stay cautious”
Aug 21 (Reuters) – U.S. auto safety regulators said on Monday that they are investigating whether Ford Motor’s (F.N) 2022 recall of nearly 49,000 Ford Mustang Mach-E electric vehicles adequately addressed concerns and whether it should be expanded to more vehicles.
Ford issued the June 2022 recall because high voltage battery main contactors may overheat from DC fast-charging and repeated wide-open pedal events, which could result in an immediate loss of propulsion power, increasing the risk of a crash. Continue reading “US auto safety agency probes 2022 Ford Mach-E EV recall”
BERLIN, Aug 21 (Reuters) – German auto parts supplier Continental (CONG.DE) is considering the sale of the car division currently bundled within ContiTech, manager magazin reported on Monday, citing company sources.
The possible sale would be part of a wider reorganisation of the company being planned by Supervisory Board Chairman Wolfgang Reitzle and the executive board around CEO Nikolai Setzer, the publication added, citing the sources. Continue reading “Continental considers sell-off of ContiTech car business – manager magazin”
Source : PTI | New Delhi: Global integrated logistics operator Maersk on Monday said it is planning to add more than 300 electric vehicles to its fleet in India by October. Maersk has already deployed over 200 Electric Vehicles (EVs) across 15 cities in the country, and is planning to expand to another 11 cities, taking its overall EV fleet to over 500, the company said.
The company plans to be net-zero across businesses and provide customers 100% green solutions by 2040.
In September last year, the company unveiled its three-wheeler and four-wheeler EVs in Mumbai, which was followed by the rollout in the National Capital Region. Continue reading “Maersk plans to add 300 EVs to its fleet in India by October”
Souce : PTI | Union Road Transport and Highways Minister Nitin Gadkari has expressed dismay over the inadequate response to questions raised by the Comptroller and Auditor General (CAG) which resulted in controversy over the cost of construction of Dwarka Expressway in Delhi. According to ministry sources, Gadkari has conveyed his displeasure with the lopsided attitude adopted by certain officials responsible for responding to queries raised by the CAG with regard to the cost of construction of the Dwarka Expressway at a high-level review meeting on Thursday.
The source said that the minister also directed to fix the responsibility of this lapse on the part of senior concerned officials. Continue reading “Gadkari expresses dismay over officials’ inadequate response to CAG on Dwarka Expressway, asks to fix responsibility”
Summary
BERLIN, Aug (Reuters) – China’s electric vehicle (EV) makers, which have raced past foreign rivals to top sales rankings at home, are arriving in Europe – and facing a new set of challenges. Continue reading “China’s EV makers face cost and consumer challenges to conquer Europe”
Aug (Reuters) – Electric-vehicle batteries and other car parts are the latest products under scrutiny as part of Washington’s effort to stamp out U.S. links to forced labor in Chinese supply chains, according to a document seen by Reuters, agency statistics and sources.
Until now, enforcement of a year-old U.S. law that bans the import of goods made in Xinjiang, China, has focused mainly on solar panels, tomatoes and cotton apparel. But now, components that may include lithium-ion batteries, tires and major automobile raw materials aluminum and steel are increasingly subject to detentions at the border. Continue reading “EV battery imports face scrutiny under US law on Chinese forced labor”
Source : PTI | Union Road Transport and Highways Minister Nitin Gadkari has expressed dismay over the inadequate response to questions raised by the Comptroller and Auditor General (CAG) which resulted in controversy over the cost of construction of Dwarka Expressway in Delhi. According to ministry sources, Gadkari has conveyed his displeasure with the lopsided attitude adopted by certain officials responsible for responding to queries raised by the CAG with regard to the cost of construction of the Dwarka Expressway at a high-level review meeting on Thursday.
The source said that the minister also directed to fix the responsibility of this lapse on the part of senior concerned officials. Continue reading “Gadkari expresses dismay over officials’ inadequate response to CAG on Dwarka Expressway, asks to fix responsibility”
Source : PTI | With its margins back to pre-Covid levels,Hero MotoCorp is now looking at sustainable growth, enhancing market share across segments on the back of new product launches over the next few quarters, according to a top company executive. The country’s largest two-wheeler maker is also looking at enhancing production capacity to roll out Harley-Davidson X440 which has already received over 25,000 bookings.
The company is also on track to introduce its electric vehicle range in 100 cities by this year-end with a focus on attaining clear leadership in the vertical. Continue reading “Hero MotoCorp targets enhanced market share, biz growth”
Aug (Reuters) – VinFast shares slumped for a third straight session on Friday, with the Vietnamese electric automaker now losing more than half of its market value since its blowout Nasdaq listing this week.
The cash-burning company was last valued at $35 billion, down from $85 billion in its Wall Street debut on Tuesday.
VinFast shares on Friday fell 23% to close at $15.40, slipping below its opening price of $22 on Tuesday, when it had surged up to $38.78. Continue reading “Vietnam’s EV firm skids for third straight US stock session after debut boom”
Aug (Reuters) – The United States on Friday finalized a decision to impose import duties on solar panel makers who finished their products in Southeast Asian nations to avoid tariffs on Chinese-made goods, according to a senior Commerce Department official.
The decision, which largely mirrors a preliminary finding the agency made in December, was opposed by buyers of solar panels that rely on cheap products made overseas to make their projects competitive. Continue reading “US places tariffs on some big solar companies for dodging China duties”
Source : PTI | State-owned power giant NTPC has started a trial run of a hydrogen bus in Leh. Towards achieving carbon-neutral Ladakh, NTPC is setting up a hydrogen fuelling station, solar plant and providing five fuel cell buses for operation on intracity routes of Leh, a company statement said.
The first hydrogen bus reached Leh on August 17 as part of a three-month-long process of field trials, roadworthiness tests and other statutory procedures. Continue reading “NTPC starts trial run of hydrogen bus in Leh”
