(Reuters) – Top executives of General Motors and Ford gave upbeat outlooks for the U.S. auto market and their profit plans on Tuesday, saying U.S. consumer demand remains strong.
GM Chief Financial Officer Paul Jacobson said auto sales in March were “looking really strong” after a strong February as GM incentives come down. Continue reading “GM, Ford are upbeat on ‘really strong’ US demand”
Tata Power, one of the leading players in the electric vehicle (EV) charging infrastructure, and Ayodhya Development Authority (ADA) have made Ayodhya EV ready by establishing EV Charging points in and around the city. This strategic partnership aims to accelerate the adoption of electric vehicles and promote sustainable transportation solutions.
These EV Charging points were unveiled in the presence of Mr. Gaurav Dayal, Commissioner of Ayodhya, and Mr. Ashwini Pandey, Vice Chairman of the Ayodhya Development Authority (ADA) at the Collectorate Office MLCP Parking in Ayodhya today. From Tata Power, Mr. Deepesh Nanda, CEO & MD – Tata Power Renewable Energy Limited, Mr. Virendra Goyal, Head Business Development (EV), and Mr. Ramkrishna Singh- Head- Business Operations (EV) were also present.
(Reuters) – Chrysler is recalling nearly 286,000 vehicles in the United States over a manufacturing defect that might cause the side curtain airbag inflators to rupture, the National Highway Traffic Safety Administration (NHTSA) said on Friday.
The right and left side curtain airbag inflators may rupture in sharp metal fragments striking occupants, resulting in injury or death, the US regulator said.
The recall would affect certain 2018-2021 Dodge Charger and Chrysler 300 models. Continue reading “Chrysler to recall about 286,000 US vehicles over airbag inflator issue, NHTSA says”
Source : PTI | Automobile manufacturer Renault Nissan Automotive India Pvt Ltd on Friday said it has received Platinum category recognition for its efforts on water conservation from internationally accredited body DQS. Germany-headquartered DQS is an internationally accredited ISO certification agency specialising in audits, assessments and training across the globe.
The firm conducted a rigorous audit at RNAIPL factory in February 2024, the company said in release issued on World Water Day today, The certification marks the success of Renault Nissan Automotive India Pvt Ltd (RNAIPL) in implementing a comprehensive strategy to reduce the Chennai manufacturing facility’s water footprint through extensive rainwater harvesting and recycling of wastewater, among other steps.
Source : PTI | The government has allowed Abu Dhabi National Oil Company (Adnoc) to export crude oil it has stored in underground strategic storages at Mangalore to give operational flexibility to the foreign firm, an order of the Ministry of Commerce and Industry said on Saturday. At present, crude oil, which is the raw material for producing fuels like petrol and diesel, is not allowed to be exported except through the state-owned Indian Oil Corporation (IOC).
In an order, the ministry said the condition of export being allowed only through IOC will continue, but “AMI (Adnoc Marketing International (India) RSC Limited India) is exempted from STE conditions and is allowed to re-export crude oil from their commercial stockpile at Mangalore strategic petroleum reserve, at their own cost”.
Continue reading “Government allows UAE’s Adnoc to export oil from Indian strategic storage”
WASHINGTON, (Reuters) – The Biden administration says its recent decision to scale back new climate regulations meant to force emissions cuts from cars and power plants will have a negligible impact on its overarching goal to halve greenhouse gas pollution this decade.
But whether that is true hinges on whether the U.S. succeeds in its parallel strategy – to use lucrative taxpayer subsidies to fuel a massive deployment of solar, wind and other renewable energy installations that Biden hopes will ultimately power America’s fleet of electric vehicles, along with its homes and businesses, according to researchers. Continue reading “Biden’s softer climate regulation shows big US bet on subsidies to decarbonize”
(Reuters) – Tesla has reduced its car production at its plant in China, Bloomberg News reported, on Friday, as the U.S. electric vehicle-maker grapples with slow demand and strong competition in the market.
The company earlier in March told employees at its Shanghai factory to lower output of both the Model Y sport utility vehicle and Model 3 sedan — the two types it makes in China — by working five days a week instead of the usual 6-1/2 days, the report said, citing people familiar with the matter. Continue reading “Tesla trims output of cars in China amid slower EV sales growth, Bloomberg reports”
(Reuters) – Ex-Lordstown Motors Corp CEO Stephen Burns settled with the U.S. Securities and Exchange Commission on Friday over his statements about demand for the electric vehicle maker’s flagship truck, the Endurance.
The SEC said in the lawsuit filed in federal court in Washington that Burns misrepresented preorders Lordstown had received for its full-size electric pickup truck around the time it went public in the fall of 2020. Continue reading “Ex-Lordstown Motors CEO settles with SEC over statements”
MILAN, (Reuters) – Chery Auto will start selling Omoda and Jaecoo brand cars in Italy in the third quarter, its Italian country manager said, making it the Chinese group’s second European market.
By the end of 2025, Chery plans three SUV models each for the Omoda and Jaecoo brands with a mixture of fuel types to serve different parts of Europe. Continue reading “China’s Chery plans to start selling cars in Italy later in 2024”
(Reuters) – Leapmotor electric vehicles (EVs) will be built at partner Stellantis’ Tychy plant in Poland, two people close to the matter told Reuters on Friday, making it one of the first Chinese automakers to start production in Europe.
Output of Leapmotor’s T03 small EV car could start before the end of June, using the semi-knocked down (SKD) technique involving turning partially assembled kits into finished vehicles, one of the people said. Continue reading “Exclusive: China’s Leapmotor to build EVs at Stellantis’ Polish plant, sources say”
(Reuters) – Chrysler is recalling nearly 286,000 vehicles in the United States over a manufacturing defect that might cause the side curtain airbag inflators to rupture, the National Highway Traffic Safety Administration (NHTSA) said on Friday.
The right and left side curtain airbag inflators may rupture in sharp metal fragments striking occupants, resulting in injury or death, the US regulator said. Continue reading “Chrysler to recall about 286,000 US vehicles over airbag inflator issue, NHTSA says”
(Reuters) – British luxury carmaker Aston Martin on Friday named Bentley head Adrian Hallmark as its new CEO to replace Amedeo Felisa, in the latest management shake-up under chairman and top shareholder Lawrence Stroll.
Hallmark will become the third CEO of Aston Martin since Stroll took over the carmaker in 2020 with a more than 20% stake acquisition. Continue reading “Aston Martin names Bentley’s Adrian Hallmark as next CEO”
Source : PTI | Naveen Jindal, Chairman of Jindal Steel and Power on Thursday assumed the charge as the President of Indian Steel Association with immediate effect. In a statement, the Indian Steel Association (ISA) said that Naveen Jindal assumed the role of President, succeeding Dilip Oommen, Chief Executive Officer (CEO) of AMNS India, effective March 21. Continue reading “Naveen Jindal takes charge as President of Indian Steel Association”
Source : PTI | India is looking at Africa for minerals, including cobalt, and other critical minerals, Mines Secretary V L Kantha Rao said on Friday. The country is still engaging with Australia for lithium blocks, he said.
Talking to reporters on the sidelines of a function here, the secretary said, “In Africa, we are looking at Zambia, Namibia, Congo, Ghana and Mozambique for critical minerals.” Continue reading “India looking at Africa for critical minerals, says mines secretary”
Source : PTI | Bajaj Auto is developing a portfolio of clean fuel CNG motorcycles, and the first such bike will hit the market in June, Bajaj Auto Managing Director Rajiv Bajaj said here on Friday. The bike will run on CNG and would hit the roads in June, he said while announcing Bajaj Group commitment of INR 5,000 crore towards Corporate Social Responsibility (CSR) spent over the next 5 years. Continue reading “Bajaj Auto working on CNG bike, to hit road in June”
Source : PTI | Automobile manufacturer Renault Nissan Automotive India Pvt Ltd on Friday said it has received Platinum category recognition for its efforts on water conservation from internationally accredited body DQS. Germany-headquartered DQS is an internationally accredited ISO certification agency specialising in audits, assessments and training across the globe. Continue reading “Renault-Nissan Automotive India secures recognition from DQS for water conservation efforts”
Source : PTI | Mining conglomerate Vedanta Ltd has a pipeline of more than 50 active projects and expansions to drive growth, which is expected to generate incremental revenue of over USD 6 billion and incremental USD 2.5-3 billion of annual EBITDA upon completion, a top company executive said at an investor event. These growth initiatives, which the company categorises into the ‘Discovery’ stage, ‘Concept’ stage and ‘Execution’ stage, are spread out across all Vedanta’s business segments – aluminium, zinc, base metals, steel, copper and power. Continue reading “Vedanta says projects pipeline in place to add USD 6 bn to topline, USD 2.5-3 bn to EBIDTA”
INDIA
Exciting Times Ahead for VW India | Company Unveils New Product Offerings for the Indian market WAF
And the Official Mobility Partner at Startup Mahakumbh is… WAF
JSW MG Motor India to expand annual capacity from 1 lakh to 3 lakh. Here’s how HTAuto Continue reading “WAF Auto News | The Auto World This Week (22nd March 2024)”
(Reuters) – U.S. new vehicle sales are expected to rise 12.1% in March, fueled by strong demand and vehicle availability, according to a joint report by industry consultants J.D. Power and GlobalData on Thursday.
While demand for personal transport has remained resilient, inventory levels have been rising as supply chain issues faced by automakers normalize. Continue reading “US new vehicles sales set to rise in March, report shows”
(Reuters) – Nielsen and Lyft have signed an agreement to measure advertisements on the ride-hailing company’s mobile app, the data analytics firm said on Thursday.
Measuring ad performance helps advertisers inform and improve marketing campaigns and quantify their impact.
Lyft announced in August last year that it will display ads on its app , looking to create a more stable source of revenue. Continue reading “Lyft inks deal with Nielsen to measure in-app ads”
At the forefront of innovation, Volkswagen India’s Annual Brand Media Conference 2024 witnessed a momentous occasion as the company unveiled its latest offerings tailored specifically for the discerning Indian market.
The new iterations included:
– The Taigun GT Plus Sport
– The Taigun GT Line
– The Virtus GT Plus Sport (concept)
These new iterations are set to redefine the automotive landscape with their unique blend of style and performance.
Summary
(Reuters) – BMW said on Thursday it was targeting 2024 automotive profit margins broadly in line with last year and expected a slight increase in car sales, as spending on launching electric vehicles across its model line-up peaks this year. Continue reading “BMW targets steady 2024 margins as electric spending peaks”
BANGKOK, (Reuters) – Japanese automaker Isuzu Motors plans to use Thailand as a production base for an electric version of its D-MAX pickup truck, with a plan to start exports next year, a Thai government spokesperson said on Thursday.
Chai Wacharonke said the firm plans to invest 1 trillion yen ($6.62 billion) in research and development by 2030, including in a testing centre. Continue reading “Japan’s Isuzu Motors to produce EV pickup trucks in Thailand”
(Reuters) – Hyundai Motor America and Kia America are recalling a combined 147,100 U.S. vehicles over a damaged charging unit, the National Highway Traffic Safety Administration (NHTSA) said on Thursday.
Hyundai will recall 98,878 vehicles, affecting certain Ioniq and Genesis models, while Kia will recall 48,232 vehicles impacting certain EV6 models. Continue reading “Hyundai, Kia to recall US vehicles over damaged charging unit, NHTSA says”
Source : PTI | Mahindra & Mahindra on Thursday said it has tied up with a unit of Adani Total Gas to establish electric vehicle charging infrastructure across the country. The auto major and Adani Total Energies E-Mobility Ltd (ATEL) have inked a memorandum of understanding (MoU) in this regard.
The MoU sets a roadmap for the creation of an expansive EV charging infrastructure across the country, it added. Continue reading “M&M, Adani Total Energies join hands to set up EV charging infra”
Source : PTI | The country registered a marginal rise of 1.65% in coal imports to 212.24 Million Tonnes (MT) in the April-January period of the ongoing fiscal, over the year-ago period. India’s coal import was 208.78 MT in the corresponding period of the previous fiscal, according to data compiled by Mjunction Services Ltd.
Mjunction Services Ltd is a B2B e-commerce platform.
Continue reading “India’s coal import rises to 212 mn tonnes in April-January period”
MILAN, (Reuters) – Hundreds of workers producing Maserati cars at the Mirafiori plant in the northern Italian city of Turin will be placed on reduced hours contracts for the rest of the year, unions said on Wednesday.
The changes will affect a maximum of 968 workers on the Maserati line at the plant, owned by automaker Stellantis, and are a result of the timing of the transition to new models. Continue reading “Maserati workers to work reduced hours at Italy plant”
(Reuters) – Volkswagenwill bring new automated driving technologies to series production as it deepens its partnership with Mobileye in automotive driving technologies, Europe’s biggest carmaker said on Wednesday.
Israeli automotive tech company Mobileye will provide driving assistance software based on its SuperVision and Chauffeur platforms to VW’s luxury brands such as Audi, Bentley, Lamborghini and Porsche. Continue reading “Volkswagen, Mobileye to bring new automated driving functions to series production”
Summary
LONDON, (Reuters) – In the usual way of things, platinum and palladium should be turning higher after a slide from recent peaks drove supply deficits, job cuts and looming mine closures in top producer South Africa. That they’re not shows how hard the electric car revolution has hit demand forecasts. Continue reading “Platinum metals face structural hit to demand from electric vehicle revolution”
BERLIN, (Reuters) – The majority of Tesla’s staff in Germany decided against the IG Metall Union and opted for non-unionised workers for the new works council, the company said on Wednesday in a statement.
The IG Metall union still expects to take 16 of 39 seats, making it the largest group in the new Tesla Gruenheide plant works council, the union said in a separate statement. Continue reading “Tesla says most German plant employees vote against IG Metall union”
WASHINGTON, (Reuters) – The Biden administration on Wednesday slashed its target for U.S. electric vehicle adoption from 67% by 2032 to as little as 35% after industry and autoworker backlash in the political battleground state of Michigan.
The Environmental Protection Agency instead adopted a “technology neutral” regulatory scheme that allows automakers far more freedom to meet emissions standards with gas-electric hybrids, which many environmentalists have opposed as a half-measure that delays the EV transition. The agency also embraced “advanced gasoline” technologies to save fuel, such as turbo-charging, lighter vehicles or stop-start ignition systems. Continue reading “US eases tailpipe rules, slows EV transition through 2030”
Source : PTI | Vietnam’s electric car maker VinFast Auto on Monday said India’s new electric vehicle policy that provides import duty concessions for companies setting up manufacturing units in the country with a minimum investment of USD 500 million will allow it to introduce a wide variety of eco-friendly premium-quality SUVs at inclusive prices. The Indian government’s new electric vehicle (EV) scheme aims to drive large investments in manufacturing, create competencies and upskilling, set up a robust supply chain and offer consumers world-class, zero-tailpipe emission vehicles, VinFast India CEO Pham Sanh Chau said in a statement. Continue reading “India’s new EV policy to help launch many eco-friendly premium-quality SUVs: VinFast Auto”
Source : PTI | Battery energy storage systems maker GoodEnough Energy will invest INR 450 crore for setting up a 20 GWh per annum capacity plant in Jammu & Kashmir by 2026. Presently, the company is in the process to make its plant operational by October this year with initial battery energy storage systems (BESS) manufacturing capacity of 7GWh per annum.
Talking to PTI on the sidelines of an event to unveil its BESS technology, founder of GoodEnough Energy Akash Kaushik said, “We have invested INR 160 crore so far to create a BESS manufacturing facility of 7GWh. It will be operational by October this year.” Continue reading “GoodEnough Energy to invest INR 450 cr to set up 20GWh storage equipment factory by 2026”
PARIS, (Reuters) – Renault CEO and president of the Association of European Automobile Manufacturers (ACEA) Luca de Meo sent an open letter to Europe’s policymakers on Tuesday calling for greater cooperation to compete against Chinese electric vehicle makers.
“I believe that we can achieve our aims through joint efforts and partnerships between the public and private sectors,” de Meo wrote in the letter, which was drafted in several languages in anticipation of European parliamentary elections in June. Continue reading “Car boss de Meo calls for joint European approach to counter Chinese EVs”
(Reuters) – CEO Elon Musk said his ketamine prescription was beneficial for Tesla’s investors in a video interview with former CNN anchor Don Lemon posted online on Monday.
Musk said the drug helps him manage a “negative chemical state” similar to depression in the interview conducted this month that also touched on politics, content moderation on X and Tesla. Continue reading “Musk defends his ketamine use as beneficial for investors in new video”
INGOLSTADT, Germany, (Reuters) – Audi Chief Executive Gernot Doellner said on Tuesday that the Volkswagen subsidiary was sticking to its electric vehicle strategy despite facing challenges this year.
Audi remains committed to bringing the last vehicle with a combustion engine onto the market in 2026, Doellner told journalists at an event in the German city of Ingolstadt, with the dates set even if the details of how it’s done are flexible. Continue reading “Audi sticking to EV strategy despite challenges, says CEO”
LONDON, (Reuters) – British luxury carmaker Bentley on Tuesday reported a lower operating profit for 2023 after a weak economy and high interest rates hit sales, but the company said its performance had stabilised and new launches would boost it in 2024.
“We had an uneven performance for the first time in about four years,” CEO Adrian Hallmark told reporters. “Even though our customers can still afford our cars… there was a level of emotional sensitivity that slowed down demand.” Continue reading “Bentley looks to launches after ’emotional sensitivity’ slowed car sales”
WASHINGTON, (Reuters) – Chrysler parent Stellantis (STLAM.MI), opens new tab and the state of California reached an agreement on emissions on Tuesday after the company unsuccessfully sought to join a deal that other automakers had struck with the state in 2019.
Under the agreement announced by the state and the company, Stellantis will comply with California’s zero-emissions, light-duty vehicle sales requirements through 2030 even if the state cannot enforce its rules. Continue reading “California, Stellantis strike vehicle emissions deal”
WASHINGTON, (Reuters) – The Biden administration on Tuesday handed Detroit automakers a major win by easing proposed rules that would have forced them to scale back production of gas-guzzling vehicles or face billions of dollars in fines.
The Department of Energy decision, first reported by Reuters on Monday, significantly slows the phase-out of existing rules that give automakers extra fuel-economy credit for electric vehicles they currently sell. The real-world impact of the complex regulations has been to help U.S. automakers meet federal standards for fleetwide fuel efficiency while they continue selling highly profitable gasoline-powered pickups and SUVs. Continue reading “White House softens EV mileage rule in a win for automakers”
