Source : PTI | Amid a likely increase in pollution levels, the Centre’s air quality panel on Saturday directed authorities in the National Capital Region to increase parking fees to discourage private transport and enhance CNG or electric bus and metro services. The action comes as part of ‘Stage II’ of the central government’s pollution control plan known as the ‘Graded Response Action Plan’ (GRAP), which is implemented in the Delhi-NCR to combat air pollution during the winter season.

At a meeting to review the air quality situation in the Delhi-NCR, the Commission for Air Quality Management (CAQM), a statutory body responsible for proactively implementing GRAP, said forecasts by the India Meteorological Department (IMD) and the Indian Institute of Tropical Meteorology (IITM) suggest Delhi’s overall air quality is likely to dip and enter the ‘very poor’ category on October 23 and 24, owing to unfavourable meteorological and climatic conditions. Continue reading “Air quality likely to turn ‘very poor’; Centre invokes measures under GRAP ‘Stage II’”

DETROIT, Oct 20 (Reuters) – United Auto Workers President Shawn Fain on Friday warned of more walkouts at U.S. truck and SUV factories unless the Detroit Three automakers improved wage and benefit offers, insisting companies could afford more than the record packages on the table.

“We’re striking the Big Three like we’ve never struck before,” Fain said. “These extremely profitable companies have more to give.” Continue reading “UAW presses Detroit automakers for better offer, threatens more walkouts”

BEIJING, Oct 20 (Reuters) – China said on Friday it will require export permits for some graphite products to protect national security, springing a surprise with another bid to control critical mineral supply in response to challenges over its global manufacturing dominance.

China is the world’s top graphite producer and exporter. It also refines more than 90% of the world’s graphite into the material that is used in virtually all EV battery anodes, which is the negatively charged portion of a battery. Continue reading “China, world’s top graphite producer, tightens exports of key battery material”

Oct 20 (Reuters) – China’s move on Friday to curb exports of graphite, a key electric vehicle battery material, will only accelerate efforts to develop alternative sources and materials, but that will take time, industry executives and analysts said.

China, the world’s largest graphite producer and exporter, will require export permits as of Dec. 1 for some graphite products, including spherical graphite used by automakers. It refines more than 90% of the world’s graphite into the material used in almost all EV battery anodes, which is the negatively charged portion of a battery. Continue reading “Analysis: China’s graphite curbs will accelerate plans around alternatives”

Summary

• Now expects operating profit margin on sales of 7.0%-7.3%
• Keeps outlook for sales, deliveries
• To publish final Q3 results on Oct. 26

FRANKFURT, Oct 20 (Reuters) – Volkswagen (VOWG_p.DE) cut its profit margin outlook for the current year on Friday, blaming negative effects from raw materials hedges at the end of the third quarter.

Like many other industrial firms, carmakers hedge against commodity price swings, potentially causing non-cash gains or losses, usually at the end of each quarter. Continue reading “Volkswagen cuts profit outlook on hit from raw material hedges”

HANOI, Oct 20 (Reuters) – Vietnamese electric vehicle (EV) maker VinFast said on Friday it has entered into a share subscription of up to $1 billion with U.S.-based fund Yorkville Advisors as it seeks to fund expansion in overseas markets.

VinFast has the option, but not the obligation, to require Yorkville to subscribe for up to $1.0 billion worth of ordinary shares in VinFast at any time during the term of the agreement, VinFast said in a filing to the U.S. securities authority. Continue reading “EV maker VinFast strikes shares deal with Yorkville for up to $1 billion”

Oct 20 (Reuters) – Businesses ranging from airlines to auto parts makers are starting to feel the heat from the month-long strike by hourly workers at the Detroit Three automakers, with analysts warning that the financial hit could increase if the walkout does not end soon.

With the United Auto Workers (UAW) strike entering its 36th day and the total economic cost pegged at more than $7 billion, companies are counting the cost of lost revenue amid an uncertain economy and persistent inflation. Continue reading “US auto strike’s economic fallout starts to hurt global businesses”

MEXICO CITY, Oct 19 (Reuters) – Mexico’s Nuevo Leon state said on Thursday that Tesla (TSLA.O) was still planning to build a factory and that the government would spend more than $130 million on infrastructure to support construction, a day after CEO Elon Musk said he was hesitating on the project.

Tesla announced the planned factory in the northern Mexican state in March, without providing a timeline for construction.

Musk on Wednesday said he was still set on the site in the Santa Catarina municipality in northern Mexico, but that the timing was un Continue reading “Mexico says Tesla factory still coming, vows infrastructure spending”

Source : PTI | Himadri Speciality Chemical Ltd on Thursday said the National Company Law Tribunal (NCLT) has verbally approved the joint resolution plan submitted by the company and Dalmia Bharat Refractories Ltd to acquire under the insolvency process.

This is a significant development in the case of Birla Tyres, which has been undergoing insolvency proceedings since May 2022. The NCLT had ordered the initiation of insolvency proceedings against the company after a case was filed by chemicals firm SRF Ltd, an operational creditor of Birla Tyres. Continue reading “Birla Tyres insolvency: NCLT approves joint offer of Himadri Speciality Chemical, Dalmia Bharat Refractories”

Source : PTI | New Delhi: State-owned THDC India Ltd (THDCIL) will develop the electric vehicle charging stations along the Char Dham Yatra route in Uttarakhand to reduce carbon emissions on the route, its CMD RK Vishnoi said on Thursday. Initially, the charging stations will be established at 14 locations in the state for which an agreement has been signed with Garhwal Mandal Vikas Nigam Ltd (GMVN), he said in a statement on Thursday.

“THDCIL and GMVN collaborate to set up electric vehicle charging stations for Char Dham Yatra Route in Uttarakhand. Memorandum of Understanding (MoU) was signed on October 18 to establish the charging stations at 14 guest houses of GMVN, along the Yatra route in the state,” he said. Continue reading “Power producer THDCIL to develop charging infra on Char Dham route in Uttarakhand”

LONDON, Oct 19 (Reuters) – The management of bankrupt electric truck maker Volta Trucks is urgently seeking a buyer to take the company out of administration and help it complete the ramp-up to mass production, a source familiar with the issue told Reuters.

Volta, which is headquartered in Sweden and has operations in the United Kingdom, filed for bankruptcy on Tuesday citing the bankruptcy in August of its supplier Proterra and uncertainty over its battery supplier, which had made it hard to raise sufficient capital. Continue reading “Management of bankrupt Volta Trucks seeking buyer – source”

Oct 18 (Reuters) – Tesla (TSLA.O) CEO Elon Musk on Wednesday warned of difficulties in ramping up production of the automaker’s much-awaited Cybertruck electric pickup truck and announced that deliveries would begin on Nov. 30.

The world’s most valuable automaker produces electric sedans and sport utility vehicles but has missed out on the pickup truck segment, which is highly profitable and hugely popular in the United States. Continue reading “Tesla’s Musk raises Cybertruck production concerns, reveals delivery date”

Oct 19 (Reuters) – Japan’s Toyota Motor (7203.T), the world’s largest automaker by sales, said on Thursday it had signed an agreement to adopt Tesla’s (TSLA.O) electric-vehicle charging technology from 2025.

Ford Motor (F.N), General Motors (GM.N) and Nissan (7201.T) are among the other automakers that have adopted Tesla’s North American Charging Standard (NACS), taking the Elon Musk-led company’s superchargers closer to becoming the industry standard at the expense of the rival Combined Charging System (CCS). Continue reading “Toyota to adopt Tesla EV charging standard from 2025”

DETROIT, Oct 19 (Reuters) – The United Auto Workers and the Detroit Three automakers are stuck in a standoff over wages and union representation at future electric vehicle battery plants, with Tesla (TSLA.O) and Chinese rivals looming over the bargaining tables.

UAW President Shawn Fain is pushing negotiators for General Motors (GM.N), Ford (F.N) and Chrysler-parent Stellantis (STLAM.MI) to open the doors for the union to organize future battery plant workers, and to raise wages at their respective joint-venture battery plants to match assembly workers’ pay. Continue reading “Focus: Behind Detroit’s battery fight: Profits, UAW’s power and Tesla”

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Driving India’s Green Future: SIAM’s ‘Green Plate EV Rally’ Paves the Way for Sustainable Mobility WAF Continue reading “WAF Auto News | The Auto World This Week (20th October 2023)”

Summary

• Renault Q3 car sales volumes slow down on falling inventories
• Car revenue down, shares fall nearly 8%
• Renault says profitability to rise into 2024

PARIS, Oct 19 (Reuters) – Renault (RENA.PA) reported a sharp slowdown in third-quarter sales volumes on Thursday as independent dealers reduced inventories, sending shares in the French carmaker down almost 8% on Thursday. Continue reading “Slowdown in Renault’s sales volumes hits shares”

BEIJING, Oct 19 (Reuters) – China’s CATL (300750.SZ), the world’s largest battery maker for electric vehicles (EV), said on Thursday that third-quarter profit rose 10.7%, its weakest quarter since the start of last year as slowing demand and stiff competition hit.

This compared with a 63.2% increase in second-quarter profit and a 188.4% surge in the third quarter of 2022. Continue reading “Chinese EV battery giant CATL reports sharp slowdown in profit growth”

•Unmatched ‘Power of Choice’ for all customers of BMW 7 – petrol, diesel, electric and an all-electric performance model.

•BMW i7 M70 xDrive: First all-electric M car to be launched in India, with 1,100 Nm of instantaneous torque.

•Exceptionally refined six-cylinder in-line diesel engine of the all-new BMW 740d.

•Extravagant opulence with Swarovski Crystal Headlights, BMW Individual Two-Tone Paint Finish & Full Leather Merino Upholstery.

•Best-in-Class Rear Seat Experience with 31.3” 8K Resolution BMW Theatre Screen & Executive Lounge Seating.

Continue reading “The first-ever BMW i7 M70 xDrive and the all-new BMW 740d M Sport launched in India”

New Delhi, 18 September 2023: In a resounding and unanimous endorsement of sustainable mobility, the Society of Indian Automobile Manufacturers (SIAM), the apex body representing India’s prominent automobile manufacturers, hosted the ‘Green Plate EV Rally’ at Pragati Maidan, New Delhi. In partnership with the Ministry of Heavy Industries, Government of India, this event marks a significant stride in promoting eco-friendly transportation and underscores SIAM’s unwavering commitment to driving the widespread adoption of electric vehicles across the nation.

In the presence of the esteemed Chief Guest, Dr. Mahendra Nath Pandey, Hon’ble Union Minister of Heavy Industries, Government of India, the “Green Plate EV Rally” was ceremoniously flagged off.  The rally showcased an impressive fleet of over 100 electric vehicles, including 2-wheelers, 3-wheelers, cars, and buses. Its central aim was to raise awareness and enhance customer confidence in electric vehicles and to exhibit the capabilities of the Indian automotive industry, which has developed and launched multiple electric vehicles to meet the needs of Indian consumers over the past couple of years. Continue reading “Driving India’s Green Future: SIAM’s ‘Green Plate EV Rally’ Paves the Way for Sustainable Mobility”

• Volkswagen India currently has two All-Women operated City Stores in Coimbatore, Tamil Nadu and Ahmedabad, Gujarat
• Driven and powered by women: The All-Women operated City Store aims at promoting workplace diversity, creating an inclusive work environment and builds on the evolving consumer demographics and behavior
• End-to-end business operations for customer requirements are catered by 10+ dynamic and skilled women professionals at Volkswagen SP Road City Store, Ahmedabad
• Enhanced engagement and comfort for customers starting their car-ownership journey
• Operated in partnership with Automark Group, the All-Women operated City Store is located at SP Road, Ahmedabad – 382350

Continue reading “Driven and powered by women: Volkswagen India introduces 2nd ‘All-Women operated City Store’ in Ahmedabad”

Source : PTI | New Delhi: More than 1,500 bike taxi drivers have written to Delhi Lieutenant Governor V K Saxena demanding that they be given the same timeline for conversion to electric vehicles as their counterparts in delivery services. The letter came a day after Delhi Chief Minister Arvind Kejriwal approved a scheme for the regulation and licensing of aggregators providing passenger transport services and delivery service providers in the national capital.

The scheme also paves the way for bike taxis and mandates that the aggregators should on board electric two-wheelers for passenger services. Continue reading “Bike taxi drivers write to Delhi LG over timeline for transition to EVs”

Source : PTI | Karnataka being at the forefront to foster the growth of the Electric Vehicle sector has successfully attracted investments of INR 25,000 crore, spanning the entire value chain, Large and Medium Industries Minister M B Patil said on Wednesday. He further said an additional investment of INR 15,000 crore is expected to flow towards research and development in the sector.

The Minister earlier inaugurated the Electric Vehicle Mobility Centre of Excellence & Innovation set up at JSS Academy of Technical Education, Bengaluru campus (JSSATE-B), here. Continue reading “Karnataka expects INR 15,000 cr new investment in electric vehicle segment: Industry Minister”

WASHINGTON, Oct 18 (Reuters) – Ford Motor Co (F.N) said on Wednesday a proposal by President Joe Biden’s administration to hike vehicle fuel economy standards through 2032 threatens to cause “substantial economic hardship” for the No. 2 U.S. automaker.

Ford’s comments represent the latest attack by the auto industry on the National Highway Traffic Safety Administration’s proposal announced in July to increase vehicle fuel efficiency requirements by 2% per year for passenger cars and 4% per year for pickup trucks and SUVs from 2027 through 2032. Continue reading “Ford says US fuel economy plan would cause automaker ‘economic hardship’”

NEW YORK, Oct 18 (Reuters) – Electric vehicle company Lordstown Motors received U.S. bankruptcy court approval Wednesday to sell its manufacturing assets to a new company affiliated with its founder and former CEO Stephen Burns for $10.2 million.

LAS Capital, majority-owned by Burns, will acquire Lordstown’s intellectual property, business records, and machinery including assembly lines for electric vehicle motors and batteries. Continue reading “Lordstown Motors ex-CEO approved to buy company assets for $10 mln”

MEXICO CITY, Oct 18 (Reuters) – Two Chinese suppliers for Tesla will invest nearly a billion dollars in the northern Mexican state of Nuevo Leon where the automaker is planning a new factory, Nuevo Leon Governor Samuel Garcia said during a trip to Shanghai on Wednesday.

The planned investments include $700 million from Ningbo Tuopu Group (601689.SS) and $260 million from Hesai Technology , a Nuevo Leon representative said. Continue reading “Chinese Tesla suppliers to invest nearly $1 bln in northern Mexico – state officials”

WASHINGTON, Oct 18 (Reuters) – Ford Motor (F.N) said on Wednesday it is recalling 35,000 Mustang Mach-E electric vehicles because high voltage battery main contactors may overheat resulting in a loss of driving power.

The new recall of 2021 and 2022 model year Mach-E vehicles with extended range followed an August investigation by the National Highway Traffic Safety Administration’s (NHTSA) into whether Ford’s June 2022 recall of 49,000 Mach-E vehicles properly addressed the issue. Continue reading “Ford recalling 35,000 US Mach-E EVs over power loss reports”

BALOCCO, Italy, Oct 18 (Reuters) – Automaker Stellantis (STLAM.MI) aims to increase sales of its light commercial vehicles (LCV) by 25% through 2027 to catch up with global market leader Ford (F.N), the unit’s head said on Wednesday presenting the group’s new range.

The world’s third largest automaker sold 1.6 million LCVs globally last year under its Fiat, Peugeot, Citroen, Opel, Vauxhall and Ram brands, with revenues of around 60 billion euros ($63.4 billion), one third of its total annual sales. Continue reading “Stellantis aims to rival Ford in commercial vehicles with sales growth”

Oct 18 (Reuters) – Ford Motor Co (F.N) on Wednesday announced a management rejig, promoting combustion vehicle unit chief Kumar Galhotra to the position of chief operating officer, even as the ongoing autoworkers strike shows little signs of ending.

Galhotra, who previously headed the Ford Blue unit that makes gas and hybrid vehicles, will now lead the automaker’s global industrial system. Continue reading “Ford reshuffles top management as UAW strike drags on”

Oct 18 (Reuters) – Tesla (TSLA.O) CEO Elon Musk said on Wednesday that he was concerned about the impact of high interest rates on car buyers, adding the electric vehicle maker was hesitating on its plans for a factory in Mexico as it gauges the economic outlook.

After the company missed Wall Street expectations on third-quarter gross margin, profit and revenue, Musk said he was cautious about going “full tilt” on the Mexico factory. Continue reading “Tesla CEO Musk raises alarm on interest rates, hesitates on Mexico factory”

Source : PTI | Mahindra & Mahindra Ltd on Tuesday said the Income Tax Department has filed an appeal before the Bombay High Court against an Income Tax Tribunal order that gave relief to the company in a INR 194.73 crore tax dispute.

The company has received an intimation from the Principal Commissioner of Income Tax-2 informing that the Income Tax Department has filed an appeal under the provisions of Section 260A of the Income Tax Act, 1961, before the High Court of Bombay, Mahindra & Mahindra said in a regulatory filing. Continue reading “IT dept moves Bombay High Court against Mahindra & Mahindra”

WASHINGTON, Oct 17 (Reuters) – Electric vehicle manufacturer Tesla (TSLA.O) on Tuesday urged the Biden administration to finalize much tougher fuel economy standards through 2032 than U.S. regulators have proposed.

The National Highway Traffic Safety Administration (NHTSA) in July proposed raising Corporate Average Fuel Economy (CAFE) car requirements by 2% and by 4% for trucks and SUVs annually between 2027 and 2032. Tesla wants the agency to finalize rules increasing stringency for cars by 6% annually and 8% for trucks and SUVs, saying it would best “conserve energy and address climate change.” Continue reading “Tesla urges US to adopt much tougher fuel efficiency rules”

WASHINGTON, Oct 17 (Reuters) – U.S. auto safety regulators on Tuesday opened a probe into whether General Motors’ (GM.N) self-driving unit Cruise is taking sufficient precautions with its autonomous robotaxis to safeguard pedestrians.

The National Highway Traffic Safety Administration (NHTSA) said has received two reports from Cruise of incidents in which pedestrians were injured, and identified two further incidents via videos posted on websites. Continue reading “US agency probes pedestrian risks at GM’s self-driving unit Cruise”

SAN FRANCISCO, Oct 17 (Reuters) – Rivian’s (RIVN.O) earlier-than-expected bond issuance this month was aimed at strengthening the electric-vehicle maker’s balance sheet before geopolitical risks make borrowing costlier and does not reflect concerns about its operations, its CEO said on Tuesday.

Following a $1.3-billion capital raise in March, Rivian had said it had enough money to last it through 2025. But it said this month it would issue $1.5 billion, sparking concerns among investors and some suppliers about the company’s financial health and sending shares plummeting. Continue reading “Rivian CEO says bond issue does not reflect concerns about EV maker’s financial health”

TAIPEI, Oct 18 (Reuters) – Taiwan’s Foxconn (2317.TW), the world’s largest contract electronics maker, will build a new kind of data centre using Nvidia (NVDA.O) chips and software for a range of applications including self-driving cars, the companies said on Wednesday.

Sharing a stage at Foxconn’s annual tech showcase in Taipei, Foxconn Chairman Liu Young-way and Nvidia CEO Jensen Huang said their companies would build these “AI factories” together. Continue reading “Foxconn and Nvidia team up to build ‘AI factories’”

STOCKHOLM, Oct 18 (Reuters) – Swedish truck maker AB Volvo (VOLVb.ST) on Wednesday posted a bigger-than-expected jump in quarterly profit helped by price hikes, sending its shares up, but predicted the European and North American heavy trucks markets would slow next year.

The Gothenburg-based group, which also makes construction equipment and engines, said order intake for its trucks fell 27% in the third quarter.

However, its third-quarter operating profit excluding costs related to the group’s exit from Russia jumped 61% from a year earlier to 19.1 billion crowns ($1.75 billion). Continue reading “Volvo braces for slower truck markets next year after Q3 profit beat”

DETROIT, Oct 17 (Reuters) – General Motors Co (GM.N) said on Tuesday it will delay production of electric pickup trucks at its plant in Michigan’s Orion Township by a year as the No. 1 U.S. automaker grapples with flattening demand for electric vehicle.

The move is the latest sign that electric vehicle production and demand may not be as strong as forecast. GM had been set to begin production of the electric Chevrolet Silverado and GMC Sierra in late 2024 at the suburban Detroit plant. The company said the plan now is to start it in late 2025. Continue reading “GM delays EV truck production at Michigan plant by year”

Source : PTI | New Delhi: Hindustan Petroleum Corporation Limited (HPCL India) in partnership with Saudi Arabia-based Petromin Corporation on Monday launched the first set of 16 express vehicle service centres in Bengaluru and Chennai.

These are the first of 1,000 ‘HP Petromin Express Centres’ planned across the country over the next few years, a joint statement said. Petromin Express India, a subsidiary of Petromin Corporation, had said last month that it will be partnering with HPCL to invest around USD 100 million to set up around 1,000 vehicle service centres at HPCL retail outlets in India.

Continue reading “Petromin to invest USD 100 mn to launch 1k vehicle service centres in partnership with HPCL”

LONDON, Oct 17 (Reuters) – Electric truck maker Volta Trucks said on Tuesday it has decided to file for bankruptcy proceedings in Sweden, after difficulties at suppliers made it hard for the startup to raise funds.

Volta, which is headquartered in Sweden and has operations in the United Kingdom, said the bankruptcy in August of electric vehicle parts supplier Proterra and uncertainty over its battery supplier had cut the number of trucks it was able to produce and made it hard to raise sufficient capital. Continue reading “Electric truck maker Volta Trucks files for bankruptcy in Sweden”

Oct 17 (Reuters) – A U.S. auto safety regulator has opened a probe into whether General Motors’ (GM.N) self-driving unit Cruise has taken sufficient precautions with its autonomous vehicles to safeguard pedestrians, it said on Tuesday.

The National Highway Traffic Safety Administration (NHTSA) said its Office of Defects Investigation has received two reports from Cruise of incidents in which pedestrians were injured, and has identified two further incidents via videos posted to public websites. Continue reading “US agency probes pedestrian risks at GM’s self-driving unit Cruise”