BANGKOK, – Thai authorities are investigating BYD’s dealers after a consumer complaint over aggressive discounting in a key international market for the Chinese EV giant that has left some buyers upset with how much they paid for their cars.
The office of the Thai Prime Minister instructed the country’s consumer protection agency to launch the probe. Continue reading “Thailand investigates EV giant BYD’s dealers over unfair discounting complaint”
BRUSSELS, (Reuters) – EU countries are wavering over whether to back additional tariffs on Chinese-built electric vehicles, highlighting Brussels’ challenge in building support for its largest trade case yet as Beijing threatens wide-ranging retaliation.
Germany, whose carmakers made a third of their sales last year in China, wants to stop the tariffs, according to a government source, while France has been among the firmest backers. Continue reading “EU governments waver over Chinese EV tariffs as trade spat escalates”
Source : PTI | EV and energy storage startup Matter Group on Wednesday announced securing USD 35 million in the ongoing Series B funding round led by the US-based problem-solving organisation Helena. The capital will accelerate the company’s efforts in scaling up manufacturing, supply chain, marketing and retail expansion to meet the growing demand for sustainable, high-performance mobility solutions, Matter said in a statement.
The other investors, who participated in this round, include Capital 2B, Japan Airlines, Translink Innovation Fund, Saad Bahwan Investment Management Company (SB Invest) as well as other institutional investors and Family Offices, the EV manufacturer said. Continue reading “Matter Group raises USD 35 mn from US-based Helena, others”
BMW Group India has reported its highest-ever half-yearly car sales, showcasing strong performance in the first half of 2024 (January – June). The company delivered a total of 7,098 cars (BMW and MINI) and 3,614 motorcycles (BMW Motorrad), with BMW alone accounting for 6,734 units and MINI for 364 units. This marks a significant +21% increase in car sales (BMW + MINI) compared to the same period last year.
In the first half of 2024, the company sold 397 units of fully electric BMW and MINI cars. The BMW i7 emerged as the top-selling BMW EV in this period, highlighting the growing interest in sustainable mobility among high-end consumers. Continue reading “BMW Group India Achieves Record Half-Yearly Sales”
DETROIT, (Reuters) – Ford Motor is trying to get more of its managers to buy electric vehicles, according to an internal email the automaker sent last week that was reviewed by Reuters.
The Dearborn, Michigan-based company changed a leasing program it offers to eligible current and former managers, now requiring them to order an electric Mustang Mach-E SUV or F-150 Lightning pickup if they wish to lease a supplemental vehicle. Workers are allowed a set number of leased vehicles, typically one to two, depending on their management level, before ordering a supplemental car. Continue reading “Ford urges its managers to buy more EVs with new leasing policy”
SAN FRANCISCO, (Reuters) – Rivian on Tuesday said it had no plans to produce vehicles with Volkswagen after a media report said the U.S. electric vehicle maker was in early talks with the German automaker to extend a recent partnership beyond software.
Shares of Rivian dipped 1.5% in extended trade. Continue reading “Rivian says no plans to produce vehicles with VW after media report on early talks”
BRUSSELS, (Reuters) – The European People’s Party, the biggest lawmaker group in the European Parliament, will seek to weaken the bloc’s planned 2035 phase-out of CO2-emitting cars, a draft document showed.
The EPP won the biggest share of any lawmaker group in last month’s European Parliament elections with 188 out of the total 720 lawmakers, cementing its influence in the EU assembly. Continue reading “Biggest EU lawmaker group wants 2035 combustion car ban revised, draft shows”
(Reuters) – Top U.S. automakers posted slower sales growth for the second quarter as a cyberattack at software systems provider CDK hit operations at several dealerships during the crucial selling period of late June.
General Motors reported a 0.6% rise in new-vehicle sales, compared with a jump of 19% last year, and said some sales would shift to the current quarter due to the hack. Continue reading “US new-vehicle sales growth slows after CDK cyberattack”
Summary
(Reuters) – Better-than-expected U.S. electric-vehicle sales in the second quarter brought welcome relief to investors after a sharp slowdown in demand triggered by high interest rates, but EV makers still face a bumpy road ahead. Continue reading “Rough road ahead for US EV makers despite upbeat quarterly sales”
Source : PTI | TAFE Motors and Tractors Ltd, the subsidiary of leading tractor maker TAFE Ltd has inked a pact with Germany-based internal combustion engine manufacturer DEUTZ AG to jointly manufacture DEUTZ range of engines in the country. TAFE (Tractors and Farm Equipment) Motors and Tractors Ltd is a subsidiary of world’s third largest tractor manufacturer and city based TAFE Ltd.
“DEUTZ inks cooperation with TAFE, allowing DEUTZ to expand its business in India. As the beginning of a long-term cooperation, TAFE Motors would manufacture up to 30,000 DEUTZ engines in 50-75 hp and 75-100 hp under license to augment and complement the wide range of engines made by the group across emission standards,” a company statement here said on Tuesday.
Continue reading “TAFE Motors, DEUTZ AG ink pact; to expand internal combustion engine biz”
BEIJING, (Reuters) – Tesla’s June sales of China-made electric vehicles fell 24.2% from a year earlier to 71,007, data from the China Passenger Car Association (CPCA) showed on Tuesday.
Deliveries of the U.S. automaker’s China-made Model 3 and Model Y vehicles fell 2.2% from May levels. Continue reading “Tesla’s June China-made EV sales down 24.2% y/y”
Source : PTI | TVS Mobility group on Monday said its subsidiary SI Air Springs has acquired Italy-based automotive components supplier Roberto Nuti Group , which will help it broaden the product range and strengthen its position in the global market. The pact between the two partners includes the 100% purchase of Roberto Nuti Group by TVS Mobility indirectly, through its wholly-owned Indian subsidiary, SI Air Springs Private Limited and investments appropriate to the full re-launch of the company, TVS Mobility group said in a statement.
It also said that both companies will continue to operate normally during the integration period. Continue reading “TVS Mobility arm acquires Italy-based automotive components supplier”
PARIS/SEOUL, (Reuters) – Renault’s electric vehicle unit Ampere said on Monday it would include lithium iron phosphate (LFP) technology in its plans to mass produce EVs, teaming up with LG Energy Solution (LGES) and CATL to build a supply chain in Europe.
Western automakers are under pressure to expand their range of chemical battery technologies to meet the needs of all market segments amid fierce competition from their often cheaper Chinese rivals. Continue reading “Renault’s EV unit Ampere teams up with LGES, CATL on battery technology”
BEIJING,(Reuters) – China’s BYD posted a 21% rise in second-quarter electric vehicle sales, closing the gap with Tesla after handing back the world’s top EV vendor title to the U.S. rival in the first quarter.
BYD sold 426,039 EVs in the April-June quarter, according to Reuters’ calculations based on its monthly sales reports. That is almost 18,000 vehicles fewer than Tesla’s vehicle deliveries for the second quarter, but far closer than the more than 86,000 gap in the prior quarter. Continue reading “China’s BYD posts 21% jump in quarterly EV sales, closes gap with Tesla”
TOKYO, (Reuters) – Four of Japan’s top property and casualty insurers and other financial firms plan to sell around 500 billion yen ($3.1 billion) of shares in Honda Motor, three people said, as the unwinding of cross-shareholding practices accelerates.
Tokio Marine Holdings Sompo Holdings and two units of MS&AD Insurance Group will together offload shares in the automaker, said the people, who declined to be identified because the information has not been made public. Continue reading “Exclusive: Major Japanese insurers to offload $3.1 billion of Honda shares”
Source : PTI | Mercedes-Benz India wants the government to commit to continuity in policies that support electric mobility for the next eight to ten years, for stable and better planning towards zero emission mobility, its Managing Director and CEO Santosh Iyer said on Tuesday. Besides, the company feels that providing the incentives given to electric vehicles to hybrid vehicles will extend the timeline for transition to emission free mobility.
The company, which had increased EV penetration to 6% in the first quarter of 2024, from 2.5% earlier, expects the momentum to carry going forward with three new EV models slated for launch this year, starting with the EQA next week. Continue reading “Want continuity of policy supporting EVs for next 8-10 yrs: Mercedes-Benz India MD & CEO”
(Reuters) – Uber Technologies said on Monday it will bring a yacht service to Ibiza and will introduce different water-transport offerings to other European cities in an effort to address the robust demand stemming from tourism in the continent.
The service named “Uber Yacht” will be available to pre-book on the Spanish island of Ibiza from July 26, and will be made available in August. Continue reading “Uber expands boat services across Europe to capture tourist demand”
BENGALURU, (Reuters) – Carmakers Mahindra & Mahindra and the Indian units of Toyota Motor Corp and Kia Motor reported higher car sales in June, boosted by demand for sports utility vehicles (SUV) even as heat waves weighed on purchase decisions.
Each month, automobile makers in India release wholesale numbers, or vehicle sales, to dealers. The sales numbers are seen as a key indicator of private consumption in India. Continue reading “Indian carmakers post SUV-led June sales growth amid heat waves”
PARIS, (Reuters) – Renault’s EV unit Ampere on Monday said it would include the lithium iron phosphate (LFP) technology in its plans to mass produce electric vehicles, teaming up with suppliers LG Energy Solutions and CATL to build a supply chain in Europe.
Western Automakers are under pressure to expand their range of chemical battery technologies to meet the needs of all market segments amid fierce competition from their often cheaper Chinese rivals. Continue reading “Renault’s EV unit Ampere to bet on LFP technology for EV batteries”
MILAN, (Reuters) – Luxury sports car maker Ferrari on Monday announced two new warranty extension schemes allowing owners of its hybrid models to have the batteries of their vehicles replaced at given times.
The move aims to help owners preserve the resale value of their Ferraris as batteries, which tend to lose efficiency over time, become central to the value of electrified cars. Continue reading “Ferrari launches battery replacement scheme to preserve performance, value of its cars”
(Reuters) – A U.S. Supreme Court decision limiting federal regulatory powers to interpret ambiguous laws could undermine President Joe Biden’s effort to cut tailpipe emissions from the nation’s vehicle fleet, two environmental law attorneys told Reuters.
In a decision released on Friday, the justices ruled 6-3 to overturn a 1984 precedent known as the “Chevron deference” which required judges to defer to reasonable federal agency interpretations of U.S. laws deemed to be ambiguous, like the Clean Air Act. Continue reading “Biden tailpipe emission rules on shakier ground after Supreme Court ruling”
Source : PTI | New Delhi: The Pollution Under Control (PUC) certification centres will continue to operate on Monday across the national capital with petrol pump owners deferring their strike after assurance from the transport minister that their demand for fee hike was being looked into. Petrol pump associations across the national capital had threatened to shut down PUCC centres from Monday.
According to officials, talks were held with petrol pump owners and they were assured that their demands will be looked into. The PUCC fees was last hiked in 2011.
Continue reading “Delhi petrol pumps defer strike after minister’s assurance on PUC certificate fee”
Source : PTI | Toyota Kirloskar Motor on Monday reported its best-ever monthly sales at 27,474 units in June. The company’s total dispatches to dealers increased by 40% last month to 27,474 units, as compared to 19,608 units in June 2023.
Last month, the company’s domestic wholesales stood at 25,752 units, while exports accounted for 1,722 units. Continue reading “Toyota records highest-ever monthly sales in June at 27,474 units”
Source : PTI | The Delhi Traffic Police booked more than 2,500 violators for driving in the incorrect lane till June 15 this year, 250% higher than the last year’s challans, officials said on Sunday. The maximum number of challans reported was 572 at the IGI Airport circle, they said.
According to the officials, the Delhi Traffic Police has observed a significant increase in the number of prosecutions for lane discipline violations in the current year. Continue reading “Over 2,500 violators booked till June 15 this year for driving in incorrect lane in Delhi”
