PARIS, (Reuters) – U.S. automaker General Motors on Monday unveiled its luxury electric Cadillac Lyriq in France, an expansion of its market in Europe after returning last year and a test of whether online-only sales will attract wealthy car buyers.

In October GM announced it was launching sales in Switzerland, the first step in an all-electric return to European markets since selling off the Opel and Vauxhall brands in 2017. Continue reading “GM returns to France with fully-electric Cadillac Lyriq”

GENEVA, (Reuters) – Renault and China-owned MG launched new electrified cars in Europe at the Geneva car show on Monday as Chinese automakers seek to take more market share from legacy European rivals.

Europe’s auto industry is scrambling to cut costs and roll out more affordable, well-reviewed electric vehicles (EVs) to counter the arrival of cheaper Chinese models. Continue reading “Renault leads Europe’s EV defence in Geneva as Chinese rivals expand”

Source : PTI | The growth of the domestic passenger vehicle industry is likely to moderate to less than 5% in the next fiscal, according to Tata Motors Passenger Vehicles Managing Director Shailesh Chandra. The company, however, expects electric vehicle sales to keep growing despite the slow pace of charging infrastructure development in the country.

“We had seen a very strong growth in FY23 of 25%, which is likely to moderate in FY24 to about 8%. Therefore, we are seeing with this high base effect, and FY25 will be slightly challenging with less than 5% growth rate,” Chandra said in an analyst call.

Continue reading “PV industry growth likely to moderate to less than 5% in FY25: Tata Motors”

Summary

• Through this partnership, DreamFolks club members can avail the services at more than 150 airports across India and internationally

National, February 2024:  Eco Mobility, India’s premier car rental service provider, today announced the expansion of its successful 4-year partnership with DreamFolks. Eco Mobility will now extend its fleet of luxury chauffeur-driven vehicles to DreamFolks customers under the newly launched DreamFolks Club memberships. Under the renewed agreement, Eco Mobility will provide luxury car rental service to DreamFolks Club members at 150+ airports in India and abroad. Continue reading “Eco Mobility Expands Partnership with DreamFolks to Deliver Car Rental Services as part of DreamFolks Club Memberships”

TOKYO,  (Reuters) – Toyota Motor has extended until March 1 the shutdown of two production lines at two manufacturing plants run by Toyota group companies in Japan, it said on Friday.

The production lines have been suspended since Jan. 29 after the discovery of irregularities in certification tests for diesel engines developed by affiliate Toyota Industries.

On March 1 Toyota will make a decision on whether to reopen the lines from Monday March 4. Continue reading “Toyota extends shutdown of two production lines after emission test irregularities”

WASHINGTON, (Reuters) – The U.S. government should block the import of low-cost Chinese autos and parts from Mexico, a U.S. manufacturing advocacy group said on Friday, warning they could threaten the viability of American car companies.

“The introduction of cheap Chinese autos – which are so inexpensive because they are backed with the power and funding of the Chinese government – to the American market could end up being an extinction-level event for the U.S. auto sector,” the Alliance for American Manufacturing said in a report. Continue reading “US should block cheap Chinese auto imports from Mexico, US makers say”

(Reuters) – Ford Motor said on Friday it had halted shipments of all 2024 model year F-150 Lightning electric pickup trucks, so it could perform quality checks for an issue it did not specify.

The No. 2 U.S. automaker said the shipment halt began on Feb. 9. It did not say when it expected to resume shipments that had begun in January of the EV truck. A spokesperson declined to say what quality issue was being checked. Continue reading “Ford halts shipments of new F-150 Lightning EVs”

NEW YORK, (Reuters) – Shares of Lotus Technology (LOT.O), opens new tab closed up 2% in their Nasdaq debut on Friday, recouping earlier losses, after the luxury electric car maker completed its merger with a blank-check acquisition company backed by private equity firm L Catterton.

The American Depositary Shares, which began trading with the new ticker “LOT”, ended at $13.80 after falling as low as $10.12. About 190,000 shares traded. The special purpose acquisition company (SPAC) closed at $13.51 on Thursday. Continue reading “EV maker Lotus Tech closes up modestly in Nasdaq debut after SPAC merger”

Summary

• Tavares received 23.5 mln euros in cash and vested equity
• Payments include 10 mln euro transformation bonus
• Package also includes 13 mln euro deferred incentive
• Average employee earnings were 70,404 euros, up 9.4%

(Reuters) – Stellantis CEO Carlos Tavares received a 56% boost in total compensation to 36.49 million euros ($39.5 million) in 2023, the Franco-Italian automaker said on Thursday. Continue reading “Stellantis chief’s annual pay package jumps 56% to $39.5 mln”

(Reuters) – Volvo Cars said on Friday it plans to distribute 62.7% of its stake worth 9.5 billion crowns ($920.17 million) in Swedish electric vehicle manufacturer Polestar Automotive Holding to its own shareholders.

After completion of the proposed distribution, Sweden-based Volvo Cars said it will retain an 18% stake in Polestar. Continue reading “Volvo Cars to dilute stake in EV maker Polestar”

BEIJING, (Reuters) – China and the European Union held talks on progress and cooperation in a number of areas including automobiles and raw materials, China’s Ministry of Industry and Information Technology said in a statement.

“China attaches great importance to China-EU cooperation in the field of industry and is willing to work with the EU to deepen mutually beneficial and win-win cooperation and achieve common development, said Xin Guobin, vice minister of industry and information technology. Continue reading “China, EU hold talks on cooperation in autos, raw materials”

BEIJING, (Reuters) – Chinese electric vehicle giant BYD on Friday unveiled a version of its Dolphin hatchback with a lower starting price.

The new Dolphin EV goes for a starting price of 99,800 yuan ($13,865.35), a 14.6% fall from the previous version.

The EV rollout came on the heels of BYD’s introduction of lower-priced plug-in hybrid sedan. Continue reading “China’s BYD unveils new Dolphin EV with lower starting price”

TOKYO,  (Reuters) – Toyota Motor has extended until March 1 the shutdown of two production lines at two manufacturing plants run by Toyota group companies in Japan, it said on Friday.

The production lines have been suspended since Jan. 29 after the discovery of irregularities in certification tests for diesel engines developed by affiliate Toyota Industries. Continue reading “Toyota extends shutdown of two production lines after emission test irregularities”

Source : PTI | New Delhi: Auto component maker Sona BLW Precision Forgings (Sona Comstar) on Thursday said the company has received certification under the auto Production Linked Incentive (PLI) scheme. The company had filed seven applications for different products under the PLI scheme, and it has received the certification for its first product, a hub wheel drive motor for electric two-wheelers, Sona Comstar said in a regulatory filing.

The company is the first automotive component company to receive the certification, it added. Continue reading “Sona Comstar gets certification under auto PLI scheme”

Source : PTI | New Delhi: Kia India on Friday said it is voluntarily recalling 4,358 units of a petrol variant of its mid-sized sports utility vehicle Seltos to replace the electronic oil pump controller. The company is recalling Smartstream G1.5 Petrol Seltos with IVT transmission, manufactured between February 28 and July 13, 2023, the South Korean automaker said in a statement.

The recall has been prompted by a potential error in the electronic oil pump controller, which may impact the performance of the electronic oil pump in the specified transmission variant, it added.

Continue reading “Kia recalls 4,358 units of Seltos to replace electronic oil pump controller”

Summary

• DeLorean brand owner said NBCU failed to pay royalties for merchandise, tie-ins
• Brand owner can pursue infringement claims at trial, court says

(Reuters) – NBCUniversal [RIC:RIC:CMCSAN.UL] lost a bid in California federal court on Thursday to defeat a trademark lawsuit over its use of the iconic DeLorean from “Back to the Future” on merchandise and tie-ins for the film series.

NBCU failed to convince U.S. District Judge David Carter that it did not infringe DeLorean Motor Co’s trademarks, paving the way for a trial on the trademark claims. Carter ruled that DeLorean lacked standing to claim that NBCU broke its 1989 contract with the carmaker, however. Continue reading “NBCUniversal must face DeLorean trademark trial over ‘Back to the Future’ merchandise”

WASHINGTON, (Reuters) – The chair of a U.S. House Committee on China and the top Democrat on the panel urged Volkswagen (VOWG_p.DE), opens new tab to halt operations in Xinjiang after thousands of vehicles with a small Chinese-made electronic component were held at U.S. ports.

Representative Mike Gallagher, a Republican, and Raja Krishnamoorthi wrote to VW CEO Oliver Blume raising “deep concern” about the reports that VW Group models were blocked from entry into the United States because the vehicles “contained parts made by forced labor in” China, according to a copy of the Feb. 21 letter reviewed by Reuters. Continue reading “US lawmakers urge VW to exit Xinjiang operations”

(Reuters) – U.S. new vehicle sales are expected to rise 1.4% in February from a year earlier, driven by robust demand and a better supply of vehicles, according to a joint report by industry consultants J.D. Power and GlobalData on Thursday.

Total new vehicle sales in the United States, which include retail and non-retail transactions, are estimated to touch 1.2 million units in February, according to the report.

The report said the volume growth was helped by higher inventory levels, higher manufacturer incentives and lower retailer profit margins which led to lower average transaction prices. Continue reading “US new vehicles sales set to rise in February, report shows”

DETROIT/WASHINGTON, (Reuters) – The U.S. Energy Department said on Thursday it gave preliminary approval for nearly $710 million in loans to electric vehicle (EV) technology manufacturing ventures, although the Biden administration still has $221.8 billion in loan capacity to fund clean-energy projects.

South Korean company SK Siltron CSS is set to receive $544 million to expand a plant in Bay City, Michigan that produces high power silicon carbide wafers used in electric vehicles. Those components are critical EV drivetrains, including inverters, and electrical distribution systems, the department said.

About 200 jobs each in the construction and production sectors could be created to handle the plant expansion, the department said in a statement. Continue reading “US offers $710 million in loans for EV technology projects”

(Reuters) – Stellantis CEO Carlos Tavares’ total compensation in 2023 rose 56% to 36.49 million euros ($39.5 million), the Italian-American automaker with brands including Chrysler and Fiat said on Thursday.

Tavares’ total compensation last year compared to the 23.46 million euros he was awarded for 2022.

Tavares received 23.47 million euros in cash and vested equity in 2023, including a 10 million euro transformation incentive to meet milestones tied to challenges the auto industry is facing on global mobility, technology and the electrification of vehicles. Continue reading “Automaker Stellantis CEO total compensation jumps 56% to $39.5 mln in 2023”

“WAF AutoNews” is World’s No.1 in World Auto News &  Auto Think Tank !!
Click Here to See for yourself.

INDIA

MG Will Present IM L6 Electric Saloon At Geneva Motor Show 2024 WAF

VW Cars Create New National Records in Endurance Testing at NATRAX, Pithampur, MP, India WAF

8 out of 10 people in Delhi admit to drunk driving in this survey HTAuto Continue reading “WAF Auto News | The Auto World This Week (23rd February 2024)”

MG is set to showcase its IM brand and more innovation at the 2024 Geneva International Motor Show. Alongside the highly anticipated debut of the all-new MG3 Hybrid, the spotlight will also shine on the unveiling of the IM brand, heralding a new era of Intelligent Mobility.

IM, short for Intelligent Mobility, represents MG’s foray into the realm of intelligent battery electric vehicles (BEVs), promising to redefine the driving experience with cutting-edge technology and premium offerings. Spearheading this venture is the IM L6 saloon, poised to make its global debut at the prestigious automotive event. Continue reading “MG Will Present IM L6 Electric Saloon At Geneva Motor Show 2024”

Source : PTI | Automobile manufacturer Renault Nissan Automotive India Pvt Ltd has tapped 85%of renewable energy for its operations at the factory near Chennai between July and December 2023, the company said on Thursday. The company is a joint venture between France based Renault and Japan-headquartered Nissan and has a manufacturing facility at Oragadam near Chennai. It has planned to achieve carbon-neutral by 2045. In September 2023, the company managed to utilise 100%of renewable energy for the operations, a company statement here said. Continue reading “Renault Nissan Automotive utilises 85% of renewable energy at TN plant between July-December 2023”

Source : PTI | In a first in the country, the Bus Rapid Transit System (BRTS) corridor in Indore city will soon have only electric buses, a senior official said here on Thursday.

All diesel-run buses plying on the 11.45 km-long route will be replaced by electric buses, municipal commissioner Harshika Singh told reporters. Continue reading “Indore’s BRTS corridor to go green with all-electric bus fleet”

LONDON, (Reuters) – Stellantis said on Thursday it will launch production of medium-sized electric vans in 2025 at its Luton plant in England, providing some long-term certainty for a factory that has been producing vans for 92 years.

The world’s fourth-largest automaker by sales said starting in the spring next year Luton will produce five electric models including the Vauxhall Vivaro Electric, Peugeot E-Expert and Fiat Professional E-Scudo in both right- and left-hand drive versions. Continue reading “Stellantis to start electric van production at UK Luton plant in 2025”

SAN FRANCISCO, (Reuters) – A California regulator has put on hold until June 19 an application by Alphabet’s Waymo to expand its robotaxi services to parts of the Los Angeles area and San Francisco’s peninsula, amid rising safety concerns over autonomous vehicles.

The application has been “suspended for further staff review”, a notification on the California Public Utilities Commission (CPUC) website showed on Wednesday. It was unclear when the notification was posted. Continue reading “California puts Waymo robotaxi expansion application on hold until June 19”

(Reuters) – BMW of North America is recalling 79,670 vehicles in the United States due to likely issues with its integrated brake system, the National Highway Traffic Safety Administration (NHTSA) said on Thursday.

Continue reading “BMW of North America to recall 79,670 vehicles, says US regulator”

BERLIN, (Reuters) – Any move by the European Union to increase protectionism against China would be a destructive move for an economic region like Europe, Mercedes-Benz CEO Ola Kaellenius said on Thursday after the carmaker published its quarterly results. Continue reading “Mercedes CEO warns EU against protectionism in response to China”

Summary

• MB to update combustion engine cars as EV demand slows
• Plug-in hybrids to “stay relevant” for several years: CEO
• Trade tensions, supply chain costs to weigh on this year
• Targeting up to 50% electrified sales by 2030

STUTTGART, (Reuters) – Mercedes-Benz on Thursday toned down expectations on EV demand and said it will update its combustion engine lineup well into next decade, becoming the latest carmaker to flag a slower than expected appetite for electric cars. Continue reading “Mercedes-Benz to update combustion engine cars amid EV demand slowdown”

BERKHAMSTED, England, (Reuters) – Electric vehicle drivers unable to install a charger at home are turning instead to stopgaps offered by U.S. and European firms as alternatives to often expensive or inconvenient public charging points.

The solutions include online platforms allowing people to rent out their chargers, “pavement gullies” for properties with no driveways and even mobile charging.

While such services could put a dent in the global public charging infrastructure problem, they will not achieve the massive scale required to solve it any time soon. Continue reading “EV charging void has drivers trying new routes to power up”

WASHINGTON, (Reuters) – The United Auto Workers (UAW) said on Wednesday it would commit $40 million to organizing non-union automobile and EV battery workers in the United States over the next two years.

The UAW said in November it was launching a first-of-its-kind push to publicly organize the entire non-union auto sector in the U.S. after strikes helped workers win record new contracts with the Detroit Three automakers.

The UAW represents about 146,000 workers at the Detroit Three and about 800 at a joint-venture battery plant in Ohio. There are more than a dozen additional U.S. battery plants in the works by Toyota, BMW, Mercedes-Benz, Honda and others. Continue reading “UAW commits $40 million to organizing US auto, EV battery workers”

STOCKHOLM, Feb 21 (Reuters) – Swedish trade union Seko said on Wednesday members may stop installing and servicing Tesla’s charging stations in the country in support of union IF Metall’s conflict with the U.S. carmaker over collective agreements.

Tesla is facing pressure in the Nordic countries from powerful employee unions backing Swedish IF Metall’s mechanics who went on strike in October last year demanding a collective agreement with the company.

“The fight that IF Metall is now taking is important for the entire Swedish collective agreement model,” Seko president Gabriella Lavecchia said in a statement. Continue reading “Another Swedish union warns of action against Tesla”

(Reuters) – Electric vehicle startups Rivian and Lucid forecast 2024 production well below analyst estimates on Wednesday as persistently high borrowing costs keep consumers from buying relatively pricier battery-powered cars.

Amazon.com-backed Rivian also said it would cut its workforce by 10%.

Shares in Rivian and Lucid plummeted 15% and 8% respectively after the announcements – the latest signs of a slowdown in EV demand flagged by automakers including Ford, General Motors and market leader Tesla. The plateauing demand sparked a price war last year as companies drained margins to woo customers. Continue reading “Rivian, Lucid’s 2024 production targets disappoint as EV demand wanes”

Source : PTI | The Delhi government on Tuesday issued fresh guidelines for handling end-of-life vehicles in public places, stipulating a penalty of INR 10,000 for four-wheelers and INR 5,000 for two-wheelers to be imposed on owners of impounded vehicles before being released. According to the guidelines, continuous enforcement drives should be conducted to phase out such vehicles from public places in the national capital and daily reports sent to the environment department for onward submission to the Commission for Air Quality Management (CAQM).

The government has classified the release procedure of impounded vehicles under two categories — those who wish to shift their vehicle out of Delhi-NCR and those who wish to park the vehicle in private spaces which are not shared parking places. Continue reading “Delhi govt issues guidelines for handling end-of-life vehicles in public places”

Source : PTI | The Competition Commission of India (CCI) on Tuesday said it has approved Minda Corporation’s proposed 8.79% stake purchase in Pricol. Minda Corporation is in the business of manufacturing of auto components and caters to Original Equipment Manufacturers (OEMs) and Tier-1 in various segments in India.

The proposed combination relates to an acquisition of up to 8.79% (approx.) of the equity share capital of Pricol by Minda, according to a release. Continue reading “CCI approves Minda Corporation’s stake purchase in Pricol”

Source : PTI | Over one-third of India’s export of oil products to the G7-led coalition countries was derived from Russian crude, a European think-tank said, highlighting how the partners shunned buying Russian crude and imposed price caps but a loose policy on refined product allowed third countries to use Russian oil and legally export products to them. While there are no restriction or sanctions on buying/using Russian crude oil and exporting fuels such as diesel derived from it, the Group of Seven (G7) rich nations, the European Union and Australia – called the price cap coalition countries – first set a crude price cap of USD 60 per barrel starting December 5, 2022 and later on products like diesel to keep market supplied while limiting Moscow’s revenue.

This was aimed at punishing Russia for its February 2022 invasion of Ukraine by depriving it of oil revenues while averting a surge in prices that could occur if Russian oil stopped flowing to global markets.

Continue reading “India exported USD 6.65 bn oil products derived from Russian oil to sanctioning nations: Report”

Source : PTI | The West Bengal Industrial Development Corporation (WBIDC) on Monday moved the Calcutta High Court, challenging an arbitration award to Tata Motors Ltd on account of loss of capital in investments made in the abandoned car manufacturing plant at Singur. The court of Justice Mousumi Bhattacharya, before which applications by WBIDC for a stay on the award and an appeal challenging the arbitration award were listed for hearing, released both the matters on Monday.

These will be placed before the Chief Justice of the high court for fresh listing before another bench. Continue reading “WBIDC moves Calcutta HC challenging arbitration award to Tata Motors over abandoned Singur plant”

BERLIN, (Reuters) – Tesla’s ambitions to expand its German plant hit a roadblock when citizens voted against a motion to raze down trees and make way for the larger site, the mayor of Gruenheide said to Reuters on Tuesday.

While not binding, the vote is a further obstacle for the U.S. EV maker’s plans to double the site’s capacity to 100 gigawatt hours of battery production and 1 million cars per year, setting it up to dominate Europe’s EV market. Continue reading “Tesla faces rejection from locals for plans to expand German site”

WASHINGTON, (Reuters) – Ford Motor Co on Tuesday said it had cut prices on its Mustang Mach-E electric SUV by up to $8,100 after sales fell sharply in January.

The No. 2 U.S. automaker’s lowest-price 2023 model year Mach E version now has a suggested retail price of $39,895, down from $42,995. The higher-end Mach-E GT spec will cost about $7,600 less, at $52,395. Other versions including the extended-range premium version will drop in price by $8,100 to $48,895. Continue reading “Ford cuts prices of electric Mustang Mach-E by up to $8,100”