DETROIT, (Reuters) – Stellantis could build electric vehicles based on technology from Chinese affiliate Leapmotor in Europe, North America or other markets where it needs competitively-priced models to compete with Chinese EV makers, Chief Executive Carlos Tavares said on Tuesday.

“At one point in time, Western governments may be tempted to block Chinese exports,” Tavares said. “We have the opportunity to assemble Leapmotor cars inside the bubble. It could be Europe it could be North America.” Continue reading “Stellantis could build Leapmotor EVs in Europe, North America”

TOKYO, (Reuters) – Japan’s Kyushu Electric Power will wait until after the United States resumes issuing export licences for new liquefied natural gas (LNG) projects before deciding on whether to invest in the Lake Charles project, an executive said.

U.S. President Joe Biden froze approvals for LNG exports from new projects late last month to big markets in Europe and Asia in order to take a “hard look” at environmental and economic impacts of the booming business. Continue reading “Exclusive: Japan’s Kyushu Electric to wait for US LNG policy clarity on Lake Charles”

Source : PTI | New Delhi: Car sharing marketplace Zoomcar on Tuesday said it has partnered with electric vehicles self-drive rental firm SPARKCARS with a plan to introduce over 1,000 EVs on its platform across India within the next two years. The partnership will help increase the supply of EV cars available for self-drive to meet the growing needs of convenient and independent travel, the company said in a statement.

“Zoomcar and SPARKCARS will introduce over 1,000 electric vehicles to Zoomcar’s platform across India within the next two years. These additions will include popular models such as the TATA Nexon, Mahindra XUV 400, Citroen eC3, and many others, offering users a diverse array of eco-friendly options for their mobility needs,” it said. Continue reading “Zoomcar, SPARKCARS join hands for EV self-drive, to add 1,000 cars in 2 years”

Spreading Joy with customers, announces special offers & benefits for a limited time period

Vadodara, 20^th February 2024: Wardwizard Innovations & Mobility Limited (WIML), one of the leading manufacturers of electric two-wheelers under the brand ‘Joy e-bike’ and three-wheelers under the brand ‘Joy e-rik’ in India, today achieved a major milestone of crossing 100,000 electric two-wheeler sales in India. The company rolled out its 100,000^th unit, Mihos from its state-of-the-art manufacturing plant in Vadodara to mark the achievement. Continue reading “Joy e-bike achieves new milestone; surpasses 100,000 units sales of Electric Two Wheelers”

(Reuters) – Japan’s transport ministry is preparing action against a Toyota Motor Corp affiliate for cheating engine emissions tests, including possibly withdrawing certification for some engine types, Nikkei reported on Monday.

The ministry will order Toyota Industries, the world’s largest manufacturer of forklift trucks, to take steps to prevent a “recurrence of the misconduct”, the newspaper reported, citing people familiar with the matter. Continue reading “Toyota Industries faces crackdown for engine emissions cheating – Nikkei”

(Reuters) – Chipmaker Nvidia is replacing Tesla as Wall Street’s most traded stock, adding to its prominence after becoming the third-most valuable U.S. company and showing more evidence of how central AI-related bets have become to investors. Continue reading “Nvidia dethrones Tesla as Wall Street’s most traded stock”

TOKYO, (Reuters) – Japan’s Kyushu Electric Power will wait until after the United States resumes issuing export licences for new liquefied natural gas (LNG) projects before deciding on whether to invest in the Lake Charles project, an executive said.

U.S. President Joe Biden froze approvals for LNG exports from new projects late last month to big markets in Europe and Asia in order to take a “hard look” at environmental and economic impacts of the booming business. Continue reading “Exclusive: Japan’s Kyushu Electric to wait for US LNG policy clarity on Lake Charles”

WASHINGTON, (Reuters) – U.S. President Joe Biden’s administration is set to ease proposed yearly requirements through 2030 of its sweeping plan to aggressively cut tailpipe emissions and ramp up electric vehicle sales, two sources told Reuters on Sunday.

Automakers and the United Auto Workers had urged the Biden administration to slow the proposed ramp-up in EV sales. They say EV technology is still too costly for many mainstream U.S. consumers and that more time is needed to develop the charging infrastructure. Continue reading “US to soften tailpipe rules, slow EV transition through 2030”

(Reuters) – The U.S. National Highway Traffic Safety Administration (NHTSA) has opened a preliminary probe into claims of unintended vehicle movement in about 4,000 of Fisker’s 2023 Ocean electric sport utility vehicles, the agency said on Friday.

The NHTSA’s Office of Defects Investigation received four complaints “alleging unintended vehicle movement” related to the 2023 Ocean model.

The complaints alleged an inability to shift into the park mode or into the intended gear, which could result in an unintended vehicle movement, the U.S. auto safety agency added. Continue reading “Fisker’s 2023 Ocean vehicles face NHTSA’s preliminary probe”

Source : PTI | Two full-fledged semiconductor fabrication plants are going to come up in India very soon entailing multi-billion dollar investment besides several chip assembly and packaging units, Minister of Electronics and IT Rajeev Chandrasekhar said. In an interview with PTI, the minister confirmed that the two projects include a USD 8 billion proposal submitted by Israel-based Tower Semiconductors and the other from Tata Group.

“I am happy to share this with you and you are probably the first one I’m sharing this with. In the near term, two full-blown fabs are going to come up in India. These are going to be multi-billion-dollar fabs in the 65, 40 and 28-nanometer technology and there are going to be a host of other packaging proposals that we are evaluating,” Chandrasekhar said.  Continue reading “Two full-blown multi-billion dollar semiconductor plants going to come up in India: MoS IT”

Source : PTI | With the negotiations for the proposed India-UK free trade agreement reaching an advanced stage, the Prime Minister’s Office reviewed the progress of the talks on February 16, sources said. Commerce and Industry Minister Piyush Goyal and Commerce Secretary Sunil Barthwal were also present in the meeting, they said.

“The talks for the agreement are at a crucial stage now. About three reviews have happened so far at the highest level,” they said, adding both countries are working to iron out differences on the remaining issues.

Continue reading “Progress of India-UK trade pact talks reviewed at highest level”

IMOTSKI, Croatia, (Reuters) – Local Croatian sculptor Roko Drzislav Rebic is carving a life-sized stone replica of a Mercedes Benz Minika car as a monument to the thousands of workers who left their homeland in search of a better fortune abroad.

The Mercedes came to be known as a symbol of success for those workers, who would drive home in their cars to show they had made money after fleeing poverty and unemployment. Continue reading “Small Croatian town builds stone Mercedes monument for migrant workers”

LONDON, (Reuters) – China’s CMOC Group overtook Glencore to become the world’s largest producer of cobalt last year as it ramped up its new Kisanfu mine in the Democratic Republic of Congo.

The company’s production leapt by 174% year-on-year to 55,526 metric tons, accounting for over a quarter of global demand of 213,000 tons.

Kisanfu, in which Chinese battery giant CATL owns a minority stake, has flooded the cobalt market. The Cobalt Institute estimates global production exceeded demand by 12,500 tons in 2023, making it one of the “biggest surpluses in recent years”. Continue reading “West challenges China’s critical minerals hold on Africa”

Source : PTI | The domestic two-wheeler industry is expected to witness a double-digit revenue growth next fiscal with demand for premium models anticipated to gain further momentum, according to Hero MotoCorp CEO Niranjan Gupta. The country’s largest two-wheeler maker, which reported a total income of INR 10,031 crore in the October-December quarter this fiscal, also expects the entry level segment to do better going ahead.

“As far as the demand is concerned, as we have been saying, we do expect the industry to grow double digit on revenue in the coming year at the least,” Gupta said in an analyst call.

Continue reading “Expect 2W industry to see double-digit revenue growth next fiscal, says Hero MotoCorp CEO”

Source : PTI | New Delhi: With quicker adoption of liquified natural gas (LNG) becoming a centre point in government’s gas policy and to control greenhouse gas (GHG) emissions, leading city gas distributor (CGD) Adani Total Gas Ltd has identified this super-chilled fuel to fuel its growth. Adani Total Gas Ltd (ATGL) is aiming to increase the adoption of LNG as the primary fuel for long-haul commercial vehicles, replacing diesel, through an ecosystem approach, a senior company official said.

This includes strategic tie-ups with various stakeholders like auto ancillaries, Original Equipment Manufacturers (OEMs), fleet operators, end-use industry, and retrofitment players to advocate for quicker adoption of the fuel.

Continue reading “Adani-Total Gas betting big on LNG”

Source : PTI | The Agra railway division on Friday successfully tested an automatic braking system installed in eight-car Vande Bharat trains as part of the indigenously developed anti-collision device ‘Kavach’, an official said. “In the first-ever trial, the loco pilot did not apply the brakes and still the train, running at a speed of 160 kmph, automatically stopped 10 metres before the red signal. This parameter will now be freezed for all eight-car Vande Bharat trains across the country,” Agra Railway Division PRO Prashasti Srivastava told PTI.

All Vande Bharat trains are fitted with a ‘Kavach’ system which can apply brakes on its own in case the loco pilot fails to do it due to any reason. Continue reading “Vande Bharat train, running at 160 kmph, stops automatically before red signal in first ‘Kavach’ trial”

San Francisco,  (Reuters) – The head of hardware at General Motors’ Cruise self-driving unit, Carl Jenkins, said on Thursday he had resigned from the company, the latest in a series of departures since the company suspended U.S. operations in October.

Jenkins, the senior vice president for autonomous vehicle platforms, is leaving after six years with the company, he said in a post on LinkedIn. Continue reading “GM’s Cruise hardware chief resigns in latest exit after operations suspended”

Feb 16 (Reuters) – Volkswagen on Friday said group deliveries rose 13.3% in January to 698,200 vehicles, with China the leading growth region.

The German automaker’s sales in China jumped 43%, while the group saw the biggest decline in its “Asia-Pacific Rest” region with 16.3%.

Sales rose by 8.2% in Central and Eastern Europe. Continue reading “China boosts Volkswagen’s January deliveries, up 13%”

LONDON, (Reuters) – China’s CMOC Group overtook Glencore to become the world’s largest producer of cobalt last year as it ramped up its new Kisanfu mine in the Democratic Republic of Congo.

The company’s production leapt by 174% year-on-year to 55,526 metric tons, accounting for over a quarter of global demand of 213,000 tons.

Kisanfu, in which Chinese battery giant CATL owns a minority stake, has flooded the cobalt market. The Cobalt Institute estimates global production exceeded demand by 12,500 tons in 2023, making it one of the “biggest surpluses in recent years”. Continue reading “West challenges China’s critical minerals hold on Africa”

(Reuters) – The U.S. National Highway Traffic Safety Administration (NHTSA) has opened a preliminary probe into claims of unintended vehicle movement in about 4,000 of Fisker’s 2023 Ocean electric sport utility vehicles, the agency said on Friday.

The NHTSA’s Office of Defects Investigation received four complaints “alleging unintended vehicle movement” related to the 2023 Ocean model.

The complaints alleged an inability to shift into the park mode or into the intended gear, which could result in an unintended vehicle movement, the U.S. auto safety agency added. Continue reading “Fisker’s 2023 Ocean vehicles face NHTSA’s preliminary probe”

MEXICO CITY, (Reuters) – German carmaker Audi’s Mexico unit said on Friday it reached an agreement with union workers in the country for a salary increase of 7%, plus a 3.2% increase in benefits for 2024, after workers launched a strike in January.

Labor Minister Marath Bolanos said on social media platform X that workers would vote on the agreement with Audi, a unit of Volkswagen , on Sunday.

The agreement would resolve a workers strike that began Jan. 24 after, according to Audi, the union declined the carmakers’s offer for a 6.5% salary raise and asked for a 15.5% increase. Continue reading “Audi Mexico, union reach agreement for salary increase”

ROME, (Reuters) – The Italian government buying a stake in Fiat-parent Stellantis (STLAM.MI), opens new tab is not on the cards, but could be if the automaker requested it, industry minister Adolfo Urso said on Friday.

Urso raised the prospect of Rome buying shares in Stellantis on Feb. 1 amid a spat over the company’s commitment to Italy, but since then both parties have made conciliatory remarks to ease tensions. Continue reading “Italy stake in Stellantis not on agenda for now, minister says”

Source : PTI | The country needs investments worth INR 30 lakh crore over six fiscal years to meet its carbon emission reduction commitments made at the UN climate change conference, an official statement said on Thursday. India has set the target of having 50% of its power generation capacity from non-fossil fuel sources. The government also aims to become a net zero carbon emitting country by 2070.

The investments would be required in manufacturing of capacity for solar, electrolysers, wind and battery, transmission, green hydrogen, solar, hydro, wind, and waste to energy sectors, said Pradip Kumar Das, CMD of Indian Renewable Energy Development Agency, at a webinar organized by the World Bank. Continue reading “India needs INR 30 lakh cr investments in 6 years to meet its emission cut commitment: IREDA chief”

Source : PTI | Uttar Pradesh recorded the highest number of vehicle sales in October-December 2023, followed by Maharashtra, Gujarat and Tamil Nadu, according to Society of Indian Automobile Manufacturers. As per data from Society of Indian Automobile Manufacturers (SIAM), Uttar Pradesh clocked a total sales of 8,22,472 units across passenger and commercial vehicles; and two and three-wheeler categories.

Maharashtra was second with 6,88,192 units across the four categories followed by Gujarat with 4,21,026 units and Tamil Nadu 4,19,189 units in the quarter. Continue reading “UP emerges as top state in total vehicle sales in Oct-Dec 2023; Maharashtra 2nd: SIAM”

Source : PTI | A drone on way to deliver a package hit a dish antenna, triggering a scare in a residential locality here. The incident took place in G Block of South City 2 residential area around 5 pm on Thursday, police said.

The drone was being flown by Skye Air at a time when prohibitory orders were in force due to Chief Minister M L Khattar’s visit in the district and a case has been registered against the company, they said.

Continue reading “Drone carrying package crashes in Gurugram locality; FIR against company”

Source : PTI | Emphasising the importance of coal and lignite gasification projects in India’s energy transition, Union Coal Secretary Amrit Lal Meena on Friday said the union government intends to take up these projects on very high priority.

Meena addressed an industry interaction meeting organised by the Ministry of Coal here, on ways to promote coal, and lignite gasification projects across the country. The Centre has recently approved schemes for the promotion of coal and lignite gasification under which the private sector and public sector undertakings have been envisaged to take up new projects for setting up coal and lignite gasification projects, he told reporters. Continue reading “Union govt intends to take up coal, lignite gasification projects on high priority: Coal secretary”

Source : PTI | On the legal status of ‘bike taxi’, the road transport ministry has clarified that motorcycles fall within the definition of ‘contract carriage’ as per the Motors Vehicles Act, 1988. A contract carriage, according to the MV Act, is a vehicle carrying passengers for hire under a specific agreement.

The Ministry of Road Transport and Highways (MORTH), in an advisory to states, said that it has been brought to its notice that certain states/UTs are, while processing applications for grant of permits, taking the view that ‘motorcycle’ is not eligible to ply under contract carriage or operate as a transport vehicle.

Continue reading “Road ministry clarifies legal status of bike taxis”

Source : PTI | The country needs investments worth INR 30 lakh crore over six fiscal years to meet its carbon emission reduction commitments made at the UN climate change conference, an official statement said on Thursday. India has set the target of having 50% of its power generation capacity from non-fossil fuel sources. The government also aims to become a net zero carbon emitting country by 2070.

The investments would be required in manufacturing of capacity for solar, electrolysers, wind and battery, transmission, green hydrogen, solar, hydro, wind, and waste to energy sectors, said Pradip Kumar Das, CMD of Indian Renewable Energy Development Agency, at a webinar organized by the World Bank. Continue reading “India needs INR 30 lakh cr investments in 6 years to meet its emission cut commitment: IREDA chief”

San Francisco, (Reuters) – The head of hardware at General Motors’ Cruise self-driving unit, Carl Jenkins, said on Thursday he had resigned from the company, the latest in a series of departures since the company suspended U.S. operations in October.

Jenkins, the senior vice president for autonomous vehicle platforms, is leaving after six years with the company, he said in a post on LinkedIn.

On Oct. 2, a pedestrian in San Francisco hit by another vehicle was thrown into the path of a self-driving Cruise car and dragged 20 feet (6 m). Continue reading “GM’s Cruise hardware chief resigns in latest exit after operations suspended”

PARIS, (Reuters) – Stellantis, with 61 billion euros in liquidity and strong cash flows, will keep “eyes open” for potential acquisitions and merger opportunities, the automaker’s chief financial officer said on Thursday.

“We intend to be one of the consolidators,” as the global auto industry goes through a turbulent transition to a more electrified fleet, Stellantis CFO Natalie Knight told an investor conference hosted by Wolfe Research.

Stellantis, the world’s third largest automaker by vehicle sales, is the product of the 2021 combination of Peugeot and Fiat Chrysler Automobiles. Prior to the FCA merger, Peugeot acquired General Motors’ European operations. Stellantis said it has cut 8.4 billion euros in costs through consolidating former Peugeot and FCA activities, beating 5 billion euro target set for 2024. Continue reading “Stellantis can be an industry ‘consolidator’, CFO says”

LONDON/DETROIT, (Reuters) – Under pressure from Chinese competitors, major U.S. and European auto manufacturers are pushing hard to cut electric vehicle costs so they can have price tags and profit margins similar to those of fossil-fuel models, industry executives said on Thursday.

Europe’s Stellantis and Renault are trying to develop more affordable EVs, which are more expensive than combustion-engine equivalents, as electric car sales growth has slowed, while U.S. giants General Motors and Ford broached the possibility of partnerships that could lower EV costs.

The high cost of EVs has become a significant barrier to broader mass adoption for zero-emission cars. Automakers have struggled to keep up with Tesla, the leading EV maker in the United States and Europe, but lower-cost Chinese models have heightened the competitive stakes. Continue reading “European, US carmakers race to lower EVs costs as China competition heats up”

Source : PTI | The National Green Tribunal (NGT) has imposed an environmental compensation of INR 45 crore on the National Highways Authority of India (NHAI) for flouting several rules while constructing an infrastructure project in Haryana. The NGT was hearing a petition claiming environmental violations by the NHAI in the acquisition of land for the development of certain corridors and routes under Bharatmala Pariyojana in National Highway-148 NA (DND-Faridabad-Kundli-Manesar-Palwal Expressway).

A bench of NGT Chairperson Justice Prakash Shrivastava said the allegations against the NHAI included the illegal diversion of the Hajipur village forest (in Gurugram district) and the illegal cutting of 441 trees, along with felling trees, near the banks of the Kiranj village pond (in Nuh district). Continue reading “NGT directs NHAI to pay INR 45 cr fine for violating environmental rules”

Source : PTI | New Delhi, India Yamaha Motor is recalling around 3 lakh units of its 125 cc scooter models Ray ZR 125 Fi Hybrid and Fascino 125 Fi Hybrid to rectify faulty brake parts. The Japanese two-wheeler maker said it is recalling scooter units manufactured between January 1, 2022, to January 4, 2024, with immediate effect.

Staying committed to the highest quality and safety standards of products, India Yamaha Motor (IYM) has announced a voluntary recall of around 3,00,000 units of 125 cc scooters, the company said in a statement. Continue reading “India Yamaha Motor recalls 3 lakh scooter units to rectify brake parts”

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Continue reading “Biden’s drive for EVs collides with Detroit’s profit machines”

Monthly Performance: January 2024

Production: The total production of Passenger Vehicles1 , Three Wheelers, Two Wheelers, and Quadricycle in January 2024 was 23,28,329 units

Domestic Sales:

• Passenger Vehicles2 sales were 3,93,074 units in January 2024.
• Three-wheeler sales were 53,537 units in January 2024
• Two-wheeler sales were 14,95,183 units in January 2024

Continue reading “Two Wheeler Sales Back in Action at India | Auto Industry Performance of January-2024”

Source : PTI | Odisha Chief Minister Naveen Patnaik on Wednesday laid the foundation stones for two green fuel projects worth INR 35,000 crore at Gopalpur Industrial Park on Wednesday. He also participated in the ground-breaking ceremony for the state-owned IDCO’s utility corridor in Ganjam district. Acme Cleantech Solutions is setting up a 1.10 MMTPA green ammonia plant with an investment of INR 27,000 crore, which will create employment for about 4,000 people.

Avaada Green H2 Private Limited will invest INR 8,000 crore for a 0.5 MTPA green hydrogen/ammonia facility, providing job opportunities for 1,500 individuals.

Continue reading “Patnaik lays foundation stones for two green fuel projects worth INR 35,000 cr in Odisha”

Source : PTI | About INR 12,900 crore has already been invested in the domestic steel sector under the PLI scheme for specialty steel, an official statement said on Wednesday. In March 2023, 57 memorandum of understandings (MoUs) were signed for generating an investment of about INR 29,500 crore in the sector by FY28.

Besides, the scheme envisaged addition of 25 MT capacity for producing specialty steel grades and generating about 17,000 employment opportunities, Ministry of Steel said in an statement. Continue reading “Govt says INR 12,900 cr invested under PLI scheme for specialty steel”

NEW DELHI/SEOUL, (Reuters) – Hyundai Motor’s planned $3 billion IPO in India will help the carmaker score two goals in one go: expand in one of the world’s fastest growing markets and tackle the so-called “Korea discount” that suppresses the value of its business back home.

Hyundai, India’s second-biggest carmaker behind Maruti Suzuki with a 15% market share, has appointed, bankers for the initial public offering which could be the country’s biggest ever, and Hyundai’s first such listing outside South Korea. Continue reading “Hyundai seeks expansion, higher valuation with India IPO”