SEOUL, Oct 11 (Reuters) – Kia Corp’s (000270.KS) union in South Korea said it would suspend for now a partial strike announced earlier on Wednesday to pursue more talks with the company.
The union and Kia’s management had been holding talks for three months over wage increases and an extension of the retirement age. Continue reading “Union at Kia Corp suspends strike action to resume talks with company”
BEIJING, Oct 11 (Reuters) – Car sales in China increased 4.7 percent in September from the same month a year ago, official data showed, boosted by more people buying discounted and new models ahead of key holidays.
Passenger vehicle sales totalled 2.04 million units in Sept, the China Passenger Car Association (CPCA) said on Wednesday. The year-on-year rate of increase was higher than the 2.2% year-on-year rise in August, the data showed. Continue reading “China’s car sales quicken in September; exports rise 50%”
TRAVAGLIATO, Italy, Oct 11 (Reuters) – Idra, an Italian aluminium casting machine maker and Tesla supplier (TSLA.O), has added Ford (F.N), Hyundai (005380.KS) and a European company to its customer base as more carmakers explore this manufacturing technique.
Tesla has pioneered the use of massive casting machines, also known as ‘gigapresses’, to make large single pieces of vehicle underbodies, streamline production and reduce the work even of robots. Continue reading “Ford, Hyundai turn to Italian casting machine maker IDRA”
SEOUL, Oct 11 (Reuters) – Stellantis (STLAM.MI) and South Korea’s Samsung SDI Co Ltd (006400.KS) on Wednesday said they will build a second electric vehicle battery plant in Kokomo, Indiana, the hometown of United Auto Workers President Shawn Fain.
The union leader is currently fighting with the Detroit Three automakers over union representation of new battery factories. The UAW had no immediate comment about the announcement. Continue reading “Samsung SDI, Stellantis choose Indiana for second joint EV battery plant”
DETROIT, Oct 11 (Reuters) – After nearly four weeks of disruptive strikes and hard bargaining, the United Auto Workers and the Detroit Three automakers have edged closer to a deal that could offer record-setting wage gains for nearly 150,000 U.S. workers.
General Motors (GM.N), Ford Motor (F.N) and Chrysler parent Stellantis (STLAM.MI) have all agreed to raise base wages by between 20% and 23% over a four-year deal, according to union and company statements. Continue reading “The UAW’s ‘record contract’ hinges on pensions, battery plants”
DETROIT, Oct 11 (Reuters) – United Auto Workers on Wednesday shut down Ford’s (F.N) biggest plant globally, halting production of lucrative pickup trucks with little warning, in a sharp escalation of the union’s four-week targeted strike against the Detroit Three automakers.
The UAW said that 8,700 union members at Ford’s Kentucky truck plant went on strike after the union said the No. 2 U.S. automaker refused to move further in contract bargaining. Continue reading “UAW expands auto strike to Ford’s biggest plant in surprise move”
Source : PTI | New Delhi: Tyre maker Bridgestone India on Tuesday said it has joined hands with Tata Power to install EV chargers for four-wheelers at its dealerships across the country. Under the collaboration, Tata Power will instal 25/30 Kwh capacity DC fast chargers that are capable of charging a four-wheeler within one hour, allowing 20-24 vehicles being charged in a day, Bridgestone India said.
The chargers will be operational on a 24×7 basis, the company said in a statement. Continue reading “Bridgestone ties up with Tata Power to install EV chargers”
Source : PTI | Himachal Pradesh should do away with taxes imposed on commercial vehicles bringing tourists from other states to boost the sector, the state’s hotel and restaurant association has said. Citing example of countries that offer free tourist visas to attract visitors, President of the Federation of Himachal Hotels and Restaurant Associations (FOHHRA) Gajender Thakur in a letter to Chief Minister Sukhvinder Singh Sukhu said Himachal can do away with the tax imposed on commercial vehicles bringing tourists from other states.
“Himachal Pradesh could set an example by… doing away with the tax imposed on commercial vehicles bringing tourists from other states,” he wrote. Continue reading “Himachal body calls for scrapping of tax on commercial vehicles bringing tourists from outside”
BEIJING, Oct 10 (Reuters) – Chinese electric vehicle startup WM Motor has filed for bankruptcy, marking the demise of a promising standout among China’s EV makers as price competition in the world’s largest auto market heats up.
A court in Shanghai is handling the bankruptcy case, according to a filing dated Monday on the national enterprise bankruptcy information disclosure platform. Continue reading “Chinese EV startup WM Motor files for bankruptcy”
BERLIN, Oct 10 (Reuters) – Tesla (TSLA.O) on Tuesday rejected claims by a German union and recent media reports that health and safety provisions at its gigafactory near Berlin were inadequate, stating that protecting workers’ health was a top priority.
The U.S. electric vehicle maker came under scrutiny in the past fortnight after German media citing local authority documents in Brandenburg reported an unusually high number of work-related accidents requiring workers to take at least three days of sick leave were occurring at the plant, which employs around 11,000 workers. Continue reading “Tesla rejects union claims, reports of health and safety issues at German plant”
BERLIN, Oct 10 (Reuters) – German high-end carmakers Mercedes-Benz (MBGn.DE) and BMW (BMWG.DE) saw their sales in China dip in the third quarter, the two companies said on Tuesday, with Mercedes hit by supply chain issues and model changes.
Mercedes-Benz’s supply issues affected its global sales, which fell 4% year-on-year in July-September, although the company said it was still on track to meet its full-year guidance for flat sales growth. Continue reading “China market hard going for BMW and Mercedes in third quarter”
Oct 10 (Reuters) – The United Auto Workers (UAW) secured a “major breakthrough” in labor talks with the Detroit Three automakers as General Motors (GM.N) made some concessions by allowing workers at joint-venture battery plants to be covered by union contracts.
Here is a look at the top talking points, and how negotiations have progressed three weeks after the strike began, according to UAW President Shawn Fain and the companies: Continue reading “Top issues in Detroit Three’s negotiations with UAW”
OSHAWA, Ontario, Oct 10 (Reuters) – General Motors (GM.N) and Canadian union Unifor reached a tentative agreement on Tuesday just hours after 4,300 workers went on strike at three GM facilities.
The union said the tentative agreement follows the pattern agreement Unifor reached with Ford Motor (F.N) last month and includes wage hikes of up to 25%. The strike ended after about 12 hours in which it had threatened the largest U.S. automaker’s profitable full-size truck production. Workers must still vote to approve the agreement. Continue reading “GM, Canadian union reach tentative agreement, ending strike”
Source : PTI | New Delhi: Vietnam’s electric car maker VinFast Auto on Thursday said it is planning to invest up to USD 200 million (nearly Rs 1,665 crore) to set up assembly units in India and Indonesia with production expected to commence by 2026. VinFast, a competitor of American electric carmaker Tesla, “is aiming to access the tremendous potential for increased EV adoption in India and Indonesia where EV penetration is currently only 1 per cent”, the company said, citing media reports in its third quarter earnings statement.
“The establishment of VinFast facilities in these local markets can provide access to government incentives for local manufacturing, relief from certain tariffs and taxes and access to raw materials at attractive rates,” it said. Continue reading “VinFast Auto earmarks USD 200 mn for assembly units in India, Indonesia”
Source : PTI | India and Saudi Arabia on Sunday inked an initial pact to collaborate in the field of electrical interconnections, green/clean hydrogen and supply chains. The Memorandum of Understanding (MoU) aims to establish a general framework for cooperation between the two countries in the field of electrical interconnection and exchange of electricity during peak times and emergencies.
Besides, both the countries aim for co-development of projects, co-production of green/clean hydrogen and renewable energy, and also establishing secure, reliable and resilient supply chains of materials used in green/clean hydrogen and the renewable energy sector. Continue reading “India, Saudi Arabia tie up for electrical interconnections, green hydrogen”
Source : PTI | New Delhi: Calls to phase out unabated fossil fuels, reform subsidies on it and triple global renewable energy capacity may find their way into the outcome of the first-ever global stocktake, a periodic assessment of collective efforts to achieve the Paris Agreement goals. Initiated in Glasgow in 2021, the first-ever global stocktake will conclude at the annual climate talks (COP28) in Dubai in December.
The United Nations Framework Convention on Climate Change (UNFCCC) recently released a report summarising submissions made by countries and non-party stakeholders regarding the political response to the global stocktake. Continue reading “Call for fossil fuel phase-out on global stocktake agenda: UN report”
Source : PTI | Electric mobility startup Entuple E-Mobility and automotive systems supplier Aditya Auto have formed a joint venture to set up manufacturing facilities to supply electric traction hubs and mid-drive motors in Bangalore, a joint statement said on Monday. The JV will be funded through equity contributions by the two partners, and the facility will have a manufacturing capacity of 2,70,000 units per annum of hub motors and 2,25,000 units per annum of mid-drive motors (48V), it added.
Production for hub motors is expected to commence from next month, while mid-drive motors from December as the joint venture’s Traction Motor plant gets commissioned, the statement said. Continue reading “Entuple e-Mobility and Aditya Auto team up for high-performance EV motors”
BEIJING/SHANGHAI, Oct 8 (Reuters) – U.S. automaker Tesla (TSLA.O) sold 74,073 China-made electric vehicles (EVs) in September, a 10.9% decrease from a year earlier, showed data from the China Passenger Car Association (CPCA) on Sunday.
Sales of China-made Model 3 and Model Y cars were down 12.0% from a month earlier. Continue reading “Tesla’s China-made EV sales volume falls 10.9% year-on-year in September”
GRUENHEIDE, Germany, Oct 9 (Reuters) – Tesla (TSLA.O) workers at the carmaker’s Brandenburg plant are joining the IG Metall union in rising numbers over concerns around health, safety and overwork, the union said on Monday.
Lack of staff and inadequate safety provisions in the workplace were leading to a high number of accidents at work, and it was not rare that around 30% of workers were signed off sick, the union said in a statement. Continue reading “Tesla workers in Germany join union as health and safety issues grow – union”
SHENZHEN, China, Oct 9 (Reuters) – Huawei-backed electric vehicle (EV) brand Aito has received more than 50,000 orders for its revamped M7 model within the first 25 days since it went on sale, the company said.
Richard Yu, Huawei’s Smart Car CEO, announced the milestone on his Weibo social media account on Saturday. Continue reading “Huawei-backed Aito says gets 50,000 orders for M7 car since relaunch”
BEIJING/SHANGHAI, Oct 8 (Reuters) – U.S. automaker Tesla (TSLA.O) sold 74,073 China-made electric vehicles (EVs) in September, a 10.9% decrease from a year earlier, showed data from the China Passenger Car Association (CPCA) on Sunday.
Sales of China-made Model 3 and Model Y cars were down 12.0% from a month earlier. Continue reading “Tesla’s China-made EV sales volume falls 10.9% year-on-year in September”
Oct 9 (Reuters) – Union workers at Volvo Group-owned (VOLVb.ST) Mack Trucks went on strike on Monday morning after overwhelmingly rejecting a proposed five-year contract deal, the United Auto Workers said, making it the latest tentative labor agreement to be voted down.
About 73% of workers – covering 4,000 workers in Pennsylvania, Florida and Maryland – voted against the deal, the UAW said. Continue reading “UAW workers reject Mack Trucks contract, go on strike”
SHANGHAI, Oct 9 (Reuters) – Beijing Hyundai Motor has cut the minimum asking price for its auto plant in China’s southwestern city of Chongqing by almost 30%, to 2.58 billion yuan ($353.38 million), after putting it up for sale in August.
No buyer or timeline has been set for disposal of the plant, part of a joint venture of Hyundai Motor (011760.KS) and Beijing Automotive Group Co, as the South Korean automaker rejigs China strategy amid fierce price competition and slowing demand. Continue reading “Beijing Hyundai Motor cuts asking price for China auto plant by 30%”
Source : PTI | Rise in air pollutionrespiratory ailments in India, experts have said and urged the government to bring a policy limiting the number of cars per family and restricting the number of vehicles plying on roads at a time. On the sidelines of the 25th National Conference on Pulmonary Diseases (NAPCON-2023), organised by the Indian Chest Society here, Dr Rakesh K Chawla, the chairman of Pulmonology and Critical Care at Jaipur Golden Hospital, said air pollution has short-term as well as long-term effects on health.
“The immediate effects are in the form of irritation in the eyes and throat. Also, there is an increase in the severity of asthma attacks,” said Dr Chawla, who is also the organising chairman of NAPCON-2023. Continue reading “Growing air pollution crisis demands govt policy on vehicle limitations”
BERLIN, Oct 7 (Reuters) – The auto battery parts joint venture between Volkswagen’s (VOWG_p.DE) PowerCo and Belgian materials firm Umicore (UMI.BR) has chosen Poland as the site for its first factory, PowerCo said on Saturday.
Through the $2.9 billion joint venture, dubbed Ionway, first flagged in December 2021, the companies are joining a number of European automakers that have brought battery supplies closer to home in the shift towards electric vehicles. Continue reading “Volkswagen, Umicore venture picks Poland for first car battery parts plant”
SHANGHAI, Oct 7 (Reuters) – Tesla (TSLA.O) has signed a leasing contract with Shanghai Waigaoqiao Free Trade Zone Group (600648.SS) to open a massive sales and service centre in an industrial park in the city, its biggest one in China, the government-owned company said.
The Tesla store, with a size of 8,000 square metres, or 861,000 square feet, will open in mid-2024 in Xin Park, under development in Shanghai’s Pudong district, according to a statement on the Chinese company’s official Wechat account on Saturday. Continue reading “Tesla signs lease to open vast sales and service centre in Shanghai industrial park”
SBI General Insurance on Friday appointed Rakesh Kaul as Chief Business Officer.
In his new role, he will be responsible for developing and executing business strategies, overseeing sales and distribution efforts, and driving overall company growth. Continue reading “SBI General Insurance Appoints Rakesh Kaul As Chief Business Officer”
Source : PTI Tata Motors on Friday said its global wholesales, including that of Jaguar Land Rover, rose 7% to 3,42,376 units in the second quarter of the current fiscal. Global wholesales of Tata Motors commercial vehicles and Tata Daewoo range in the July-September quarter of FY24 were at 1,06,620 units, up 3% over Q2FY23, the company said in a statement.
However, the company’s global sales of all passenger vehicles, including electrical vehicles, were at 1,38,939 units, lower by 3% year-on-year. Continue reading “Tata Motors global wholesales rise 7% to 3.42 lakh units in Sept qtr”
WASHINGTON, Oct 5 (Reuters) – U.S. National Highway Traffic Safety Administration (NHTSA) officials on Thursday told a public hearing the government should require the recall of 52 million air bag inflators produced by auto suppliers ARC Automotive and Delphi Automotive because they may rupture and send metal fragments flying.
The rarely used NHTSA public hearing could prompt one of the largest recalls in U.S. history. Delphi Automotive, part of Autoliv (ALV.N), manufactured approximately 11 million of the inflators through 2004 under a licensing agreement with ARC, which manufactured the remaining 41 million inflators. An ARC executive argued against a recall during the hearing. Continue reading “US regulators push for recall of 52 million air bag inflators”
WASHINGTON, Oct 6 (Reuters) – The U.S. Treasury Department on Friday issued new guidance on how a $7,500 electric vehicle tax credit can be used as a point-of-sale rebate starting in January.
Currently, consumers can only take advantage of the $7,500 new EV credit or $4,000 used EV credit when they file their tax returns the following year. Continue reading “U.S. Treasury details EV tax credit rebate rules”
Summary
DETROIT, Oct 6 (Reuters) – The United Auto Workers held off on additional strikes against Detroit Three auto plants on Friday, citing General Motors’ (GM.N) unexpected willingness to allow workers at joint-venture battery plants to be covered by union contracts. Continue reading “UAW says its ‘strike is working,’ holds off on more walkouts”
MEXICO CITY, Oct 5 (Reuters) – Final permits for Tesla to build an electric-vehicle (EV) factory in the northern Mexican state of Nuevo Leon could be ready in weeks and the local government is beginning infrastructure work requested by the company, a senior official said on Thursday.
Tesla (TSLA.O) in March announced plans to open a major plant in Nuevo Leon, its first in Mexico, which has also attracted EV investments from other automakers seeking to meet ambitious production targets. The company has not given details on construction or production. Continue reading “Tesla factory permits almost ready in Mexico, as state launches infrastructure work”
WASHINGTON, Oct 6 (Reuters) – The U.S. Treasury Department on Friday issued new guidance on how a $7,500 electric vehicle tax credit can be used as a point-of-sale rebate starting in January.
Currently, consumers can only take advantage of the $7,500 new EV credit or $4,000 used EV credit when they file their tax returns the following year. Continue reading “U.S. Treasury details EV tax credit rebate rules”
BERLIN, Oct 6 (Reuters) – The $2.9 billion battery parts joint venture between Volkswagen’s (VOWG_p.DE) PowerCo and Belgian materials firm Umicore will be called Ionway, the companies said on Friday.
Through the joint venture, first flagged in December 2021, the companies are joining a number of European automakers that have brought battery supplies closer to home in the shift towards electric vehicles. Continue reading “Umicore, Volkswagen present Ionway battery parts joint venture”
BERLIN, Oct 6 (Reuters) – The European Union’s investigation into subsidies for China-made electric vehicles (EV) exported to Europe could do more harm than good, BMW’s (BMWG.DE) chief financial officer said on Friday, warning of a potentially big backlash from Beijing.
Walter Mertl said he did not endorse punitive tariffs and the investigation would shield those who do not have significant sales in China but would impact every carmaker doing business there. Continue reading “BMW says EU subsidy probe into China-made EVs could do more harm than good”
DETROIT, Oct 6 (Reuters) – United Auto Workers President Shawn Fain is scheduled to say later on Friday whether recent intensified bargaining with the Detroit Three automakers has produced enough progress to forestall more walkouts.
A video address by Fain is scheduled for 2 p.m. EDT (1800 GMT) and will cover substantive bargaining updates, people familiar with the UAW’s plans said. That timing is a departure from the previous two Fridays in which Fain addressed union members at about 10 a.m. Detroit time (1400 GMT), and ordered walkouts at additional Detroit Three factories to start at noon. Continue reading “UAW strike decision day comes as bargaining heats up”
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Source : PTI | MG Motor India on Sunday reported a 31 per cent year-on-year growth in retail sales at 5,003 units in September 2023.
Sales of electric vehicles continue to contribute around 25 per cent of the total sales of the company, MG Motor said in a statement. Continue reading “MG Motor retail sales up 31% in Sep at 5,003 units”
Source : PTI | Around 85% of road projects are likely to be completed by the end of this fiscal, as the steps taken by the government to ensure faster clearances like monitoring and quicker resolution of issues have started showing results, Road Transport and Highways secretary Anurag Jain said on Wednesday. Jain said, the Road ministry is getting environment and forest clearance quickly and monitoring mechanisms of delayed projects have been improved.
“We took up completion of projects on time as a challenge, and in cases where the project is already delayed, a revised schedule was taken as the target. I have a feeling that by the end of this financial year (March), we will complete about 85% of projects on time,” he told PTI in an interview. Continue reading “Govt aims to complete about 85% of road projects on time this fiscal: Anurag Jain”
