WASHINGTON, Dec 1 (Reuters) – General Motors said Friday that it expects many of its electric vehicles to qualify for U.S. tax credits next year after new stricter rules limiting Chinese battery content take effect.

“Due to GM’s historic investments in the U.S and efforts to build more secure and resilient supply chains we believe GM is well positioned to maintain the consumer purchase incentive for many of our EVs in 2024 and beyond,” the automaker said after the Biden administration issued new guidance. Continue reading “GM believes many of its EVs will qualify for tax credits in 2024”

WASHINGTON, (Reuters) – The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year.

In a win for automakers, the U.S. Treasury will temporarily exempt some trace critical minerals from new strict rules barring materials from China and other countries deemed a “Foreign Entity of Concern.” (FEOC) Continue reading “US to limit Chinese firms, battery parts from winning EV tax credits”

WASHINGTON, (Reuters) – A U.S. auto safety regulator said on Friday it is opening an investigation into 73,000 Chevrolet Volt plug-in hybrid cars over reports of abrupt loss of power, failures to restart and other issues.

The National Highway Traffic Safety Administration said it was opening the preliminary evaluation into the 2016 through 2019 model year Chevrolet Volt after 61 complaints tied to the battery energy control module (BECM). Some complaints reported there was little to no warning before the loss of operating power or reduced power mode occurred. Continue reading “US opens probe into 73,000 Chevrolet Volt cars over loss of power”

Source : PTI | State-owned Gail India on Friday said it has initiated legal proceedings against a former unit of Russian energy giant Gazprom for non-delivery of LNG and has sought USD 1.817 billion in damages. In a stock exchange filing, the gas utility said it has filed an arbitration claim before the London Court of International Arbitration for “non-supply of LNG cargoes under long-term contract.”

GAIL in 2012 signed a 20-year deal to buy as much as 2.85 million tonnes per annum of liquefied natural gas (LNG) with Russian energy giant Gazprom.

Continue reading “GAIL seeks USD 1.8 bn from former Gazprom unit”

Source : PTI | Japanese auto major Toyota Motor Corporation on Friday announced a regional restructuring with India being integrated into its ‘Middle East, East Asia & Oceania Region’ operations and slotting the country to act as the hub of the new geography. As part of this development, Masakazu Yoshimura, MD and CEO of Toyota Kirloskar Motor (TKM) — the company’s joint venture in India with the Kirloskar group — will concurrently be the Regional CEO, Toyota Motor Corporation (TMC) said in a statement.

“Currently, as a part of the Asia Region, the Indian market already enjoys high priority. With this change, India will now play an even more crucial role by being integrated into the Middle East, East Asia & Oceania Region and acting as the hub of the new ‘India, Middle East, East Asia & Oceania Region’ starting January 1, 2024,” it said. Continue reading “India to act as Toyota’s new regional hub”

Source : PTI | New Delhi: India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. If the government has to consider providing incentives then it will only be for all EV makers and entrants who want to come to India, the official said.

The official added that inter-ministerial discussions have happened on the customs duty concession demand of the US-based electric car maker Tesla, but “we never” come to any conclusion on those. Continue reading “Will never give company-specific incentives in EV sector, govt official on Tesla’s demand”

Source : PTI | Cab aggregator Uber on Thursday announced the launch of its global flagship electric vehicle service Uber Green in Bengaluru which allows residents of the tech city to book sustainable and eco-friendly rides on their app. Karnataka Information Technology Minister Priyank Kharge flagged off the first Uber Green vehicles from the Bengaluru Palace on the sidelines of the Bengaluru Tech Summit.

The cab aggregator said Uber Green is now available in several parts of the city including most of central Bengaluru and that it will soon be extended to more parts of the city. Continue reading “Uber Green launched in Bengaluru; offers sustainable transport option”

BEIJING, Dec 1 (Reuters) – China’s electric vehicle giant BYD Co Ltd (002594.SZ) on Friday announced subsidies for some models and a discount of up to 20,000 yuan ($2,803) in December for buyers who are switching from oil to electric cars.

BYD in March set a target to sell 3 million vehicles by the end of this year, local media Yicai has reported. Continue reading “China’s BYD offers subsidies, discount for some models in December”

(Reuters) – Elon Musk is keen to achieve what no business leader has done before, from mass-producing electric cars to developing reusable space rockets. Now he is blazing another trail most chief executives have avoided: the profane insult.

The Tesla (TSLA.O) CEO told advertisers who have fled his social media platform X over antisemitic content to “Go fuck yourself!” in an interview on Wednesday.

Several business communications analysts said they couldn’t remember a similar case of an executive publicly cursing at their customers. The job of a CEO is to do deals, not burn bridges, they said. Continue reading “Trailblazer Elon Musk pushes a profane new frontier”

WASHINGTON, Dec 1 (Reuters) – A U.S. auto safety regulator said on Friday it is opening an investigation into 73,000 Chevrolet Volt plug-in hybrid cars over reports of abrupt loss of power, failures to restart and other issues.

The National Highway Traffic Safety Administration said it was opening the preliminary evaluation into the 2016 through 2019 model year Chevrolet Volt after 61 complaints tied to the Battery Energy Control Module (BECM). Some complaints reported there was little to no warning before the loss of operating power or reduced power mode occurred. Continue reading “US opens probe into 73,000 Chevrolet Volt cars over loss of power”

Dec 1 (Reuters) – Electric-vehicle maker Fisker (FSR.N) said on Friday it will scale down production this month and produce lesser cars this year than its previous guidance, to prioritize cash for working capital needs.

Shares of the EV maker, which has been struggling with a cash crunch, rose 7% in premarket. Continue reading “Fisker scales back production to divert cash for working capital”

WASHINGTON, Dec 1 (Reuters) – The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year.

In a win for automakers, the U.S. Treasury will temporarily exempt some trace critical minerals from new strict rules barring materials from China and other countries deemed a “Foreign Entity of Concern.” (FEOC) Continue reading “US to limit Chinese firms, battery parts from winning EV tax credits”

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