Summary

• Companies accused of misclassifying drivers as contractors
• Uber and Lyft appealed lower court ruling against them

(Reuters) – The U.S. Supreme Court declined on Monday to hear a challenge by Uber and Lyft to lawsuits by the state of California on behalf of drivers who signed agreements to keep legal disputes with the ride-hailing companies out of court in a legal fight over their status as contractors. Continue reading “US Supreme Court denies Uber, Lyft bid to avoid California driver suits”

Source : PTI | Servotech Power Systems on Monday said it has secured an additional order in Maharashtra to set up nine EV charging stations. With this, the total number of EV charging stations set up by the company will reach 29.

The additional orders have been secured from Nashik Municipal Corporation (NMC), the company said in a statement.

Continue reading “Servotech Power Systems gets additional order to set up 9 EV charging stations in Maharashtra”

Summary

• Trump ratchets up protectionist trade rhetoric
• He previously pledged 100% duty on imported cars, trucks
• Trump campaigns in Wisconsin for fourth time in eight days

(Reuters) – Republican U.S. presidential candidate Donald Trump on Sunday said he would slap tariffs as high as 200% on vehicles imported from Mexico as he ratchets up his protectionist trade rhetoric ahead of the Nov. 5 election. Continue reading “Trump threatens a 200% tariff on vehicles imported from Mexico”

Summary

• Rio may need to pay over $5 bln, investors and analysts say
• Bottom-of-the-cycle play is good timing for Rio Tinto
• U.S.-listed shares of Arcadium up 40% on Monday

(Reuters) – Rio Tinto is in talks to buy lithium producer Arcadium with the global miner looking to pounce following a slump in prices for the ultralight metal used to make electric-vehicle batteries. Continue reading “Rio Tinto aims to snap up Arcadium before lithium prices recover”

MILAN, (Reuters) – Automaker Stellantis said on Monday it would start production of the new version of its best-selling Jeep Compass mid-sized SUV next year, at its Melfi plant in southern Italy.

The model will be based on Stellantis’ Medium platform, allowing for flexibility on different propulsion configurations. Continue reading “Stellantis to start production of new Jeep Compass in Italy in 2025”

BEIJING, (Reuters) – The European Commission’s decision to press ahead with tariffs on Chinese-made electric vehicles threatens to undermine decades of cooperation between China and the EU, and endangers climate-change goals, Xinhua news agency said on Saturday.

On Friday, the EU said it would push forward with hefty tariffs on China-made EVs, even after the bloc’s largest economy Germany rejected them. The dispute is its biggest trade row with Beijing in a decade. Continue reading “EU plan to press ahead with China EV tariffs bad for ties and green ambitions, Xinhua reports”

Summary

• Blume suggests credit for investments instead of punitive tariffs
• EU to impose tariffs on China-made EVs despite German opposition
• Retaliatory tariffs by China could hurt European carmakers, Blume warns

FRANKFURT, Oct 6 (Reuters) – The CEO of German carmaker Volkswagen said the European Union should consider adjusting planned tariffs against China-made electric vehicles to make allowances for investments made in Europe. Continue reading “VW CEO: Chinese automakers should be allowed to avert tariffs by investing in EU”

Source : PTI | Aditya Birla Group firm Hindalco Industries and Sajjan Jindal-led JSW Steel are in the race for two copper mines in Jharkhand which will be put on sale this month, sources said. Both mines have a combined capacity of three million tonne per annum.

Hindalco Industries and JSW Steel will be vying for state-owned Hindustan Copper Ltd’s two copper mines in Jharkhand, sources said. Continue reading “Hindalco, JSW Steel in race for copper mines in Jharkhand”

Source : PTI | To increase the usage of available raw materials, the Ministry of Steel has directed integrated steel players to make use of iron ore fines in steel making after its beneficiation. As per sources, the ministry has also suggested that players look at options like acquiring coking coal mines abroad.

This is aimed at increasing the availability of raw materials at competitive prices, they said. Continue reading “Govt asks major steel players to use iron ore fines also for steel making”

Source : PTI | Home grown EV charging solutions firm Exicom has acquired US-based DC fast charging technology company Tritium for USD 37 million, or about INR 310 crore, a senior company official said. Exicom managing director Anant Nahata told PTI that the company is setting up a manufacturing unit in Hyderabad where it will use DC (Direct Current) fast charging technology of Tritium to develop solutions for electric vehicles.

The Hyderabad facility is expected to be operational by the end of 2025.

Continue reading “Exicom acquires US EV charging company Tritium for INR 310 cr”

Source : PTI | Toyota Kirloskar Motor (TKM) was on Monday allotted 827-acre land for a new manufacturing plant in Maharashtra’s Chhatrapati Sambhajinagar, an official said. TKM on July 31 signed an agreement with the state government to set up a greenfield manufacturing facility for electric and hybrid cars.

“A greenfield smart industrial city was set up in the joint partnership of the Central and Maharashtra governments through a SPV (Special Purpose Vehicle) named the Maharashtra Industrial Township Limited (MITL). The nodes of Shendta and Bidkin are being developed,” the Delhi-Mumbai Industrial Corridor (DMIC) official told PTI. Continue reading “Toyota Kirloskar Motor allotted 827-acre land for new manufacturing unit in Maharashtra”

Source : PTI | Multi-brand pre-owned car firm Mahindra First Choice Wheels Ltd on Monday said Mohammed Turra has been appointed as its Managing Director and CEO. Turra succeeds Ashutosh Pandey, who will be taking on a new role within the Mahindra Group, the company said in a statement.

He brings over two decades of leadership experience across India, the Middle East, France and the US, spanning domains across consulting, financial services, FMCG, and the automotive industry, it added. Continue reading “Mahindra First Choice Wheels names Mohammed Turra as MD & CEO”

FADA President, Mr. C S Vigneshwar, shared his perspective on the auto retail performance for September 2024, stating, “The 2024 southwest monsoon recorded 8% above-normal rainfall—the highest in four years—which has boosted Kharif sowing by 1.5% YoY. This increase in agricultural productivity has positively impacted rural demand and economic sentiment.

Despite the onset of festivals such as Ganesh Chaturthi and Onam, Dealers have reported that the performance has been largely stagnant. This suggests that overall market sentiment during these festive periods has been underwhelming, with a trend leaning towards flat or negative growth. Continue reading “FADA Releases September’24 Vehicle Retail Data”

(Reuters) – Rivian Automotive has applied for a federal loan to enable the construction of its electric vehicle factory in Georgia, according to a filing by the U.S. Department of Energy.

While Rivian has applied for a loan, the department has not made a final decision and the filing did not disclose the requested amount or terms. Continue reading “Rivian applies for federal loan to restart Georgia EV factory construction”

(Reuters) – The U.S. Securities and Exchange Commission is investigating Fisker and has sent multiple subpoenas to the bankrupt EV maker, according to a filing by the regulator on Friday.

Fisker filed for bankruptcy protection in June, after burning through cash in an attempt to ramp-up production of its Ocean SUVs. Continue reading “EV startup Fisker faces probe by US securities regulator”

WASHINGTON/DETROIT, (Reuters) – Chrysler parent Stellantis filed a federal lawsuit against the United Auto Workers, saying the union has violated its contract by threatening to strike over the company’s delays in planned investment.

The automaker filed the suit on Thursday asking the U.S. District Court in the Central District of California to declare the decision by UAW Local 230 in Los Angeles to take a strike authorization vote violates terms of the contract reached last fall. Continue reading “Stellantis sues UAW in US federal court over strike threats”

(Reuters) – A U.S. auto safety regulator said on Friday it was investigating 368,309 Ford crossover SUVs in the country over loss of braking caused by rear brake hose failure.

The preliminary evaluation covers some Ford Edge crossovers from model years 2015-2017, the National Highway Traffic Safety Administration said. Continue reading “US regulator opens probe into more than 360,000 Ford SUVs over loss of braking”

Summary

• Commission says it has necessary support for tariffs
• Says will continue talks on pricing with Beijing
• More states back tariffs than oppose, many abstentions
• Case is Commission’s biggest trade clash with China in a decade
• Beijing has threatened retaliation if tariffs go ahead

BRUSSELS, (Reuters) – The European Union will press ahead with hefty tariffs on China-made electric vehicles, the EU executive said on Friday, even after the bloc’s largest economy Germany rejected them, exposing a rift over its biggest trade row with Beijing in a decade. Continue reading “EU presses ahead with Chinese EV tariffs after divided vote”

Source : PTI | German luxury carmaker BMW Group on Friday said its BMW and MINI brands recorded a 10 % year-on-year increase in sales, at 10,556 units in India during the January-September period of 2024. The number of cars (BMW and MINI) sold in the nine months of 2023 was 9,580 units.

Besides, the group also sold 5,638 units of Motorrad brand of motorcycles, the group announced here on Friday. Continue reading “BMW, MINI record 10 % sales growth in Jan-Sept”

SAN FRANCISCO, (Reuters) – Alphabet’s Waymo will add electric vehicles from South Korea’s Hyundai Motor to its robotaxi fleet, the companies said on Friday, as Waymo expands in the United States.

On-road testing for IONIQ 5 SUVs – assembled at Hyundai’s Georgia facility and equipped with Waymo’s autonomous technology – will begin by late 2025, they said. Continue reading “Alphabet’s Waymo to expand robotaxi fleet with Hyundai EVs”

Summary

• Rivian says parts shortage began in Q3 and worsened recently
• Co will produce fewer vehicles in 2024 than a year earlier
• EV demand in the U.S. under pressure from high borrowing costs

(Reuters) – Rivian slashed its full-year production forecast on Friday and missed third-quarter deliveries expectations due to a parts shortage and slowing growth in electric-vehicle demand, sending shares of the startup down nearly 9%. Continue reading “Rivian lowers annual production forecast due to parts shortage, shares drop”

ROME, (Reuters) – Stellantis said on Friday it backed free and fair competition, stable rules and policies supporting demand after EU member states voted in favour of tariffs on China-made electric vehicles.

In a statement, Stellantis said it took note of the vote. Continue reading “Stellantis, after EU vote on China EV tariffs, says stable rules ‘more important than ever’”

(Reuters) – China called on the European Union on Friday to delay implementing tariffs on Chinese-made electric vehicles and avoid escalating trade frictions, state media reported.

China’s Chamber of Commerce to the EU expressed in a statement strong dissatisfaction with the EU for promoting “trade protectionism” measures. Continue reading “China urges EU to delay implementing tariffs on China-made EVs, state media says”

Summary

• BMW CEO calls for a quick settlement between EU and China
• Mercedes-Benz calls tariffs a ‘mistake’
• Volkswagen calls for a negotiated solution

FRANKFURT, (Reuters) – Germany’s top carmakers on Friday urged Brussels and Beijing to avert looming tariffs on imports of Chinese-made electric vehicles through a negotiated deal, highlighting fears over what an escalating trade conflict will mean for business.

Earlier, the European Commission received enough support from EU member states to implement tariffs in a long-awaited vote pitting China-dependant economies such as Germany against member states with less exposure. Continue reading “EU tariff vote on China EVs a ‘fatal signal’ for sector, German carmakers warn, urging compromise”

MADRID, (Reuters) – The European Union should seek a compromise and negotiated outcome with China, Spain said on Thursday, on the eve of a crucial EU vote on electric vehicle (EV) tariffs.

Instead of imposing tariffs, the EU should “keep negotiations open … beyond the binding vote” to strike a deal on prices as well as the relocation of battery production to the bloc, Economy Minister Carlos Cuerpo said in a letter to the European Commission Vice President Valdis Dombrovskis seen by Reuters. Continue reading “Exclusive: Spain calls for compromise with China ahead of EU vote on EV tariffs”

FRANKFURT, (Reuters) – Germany on Friday will vote against the introduction of European Union tariffs on Chinese electric vehicles, people with knowledge of the matter told Reuters on Thursday.

Germany abstained in a first non-binding vote in July on the European Commission’s proposal to impose the tariffs, but since then industry has pressured German Chancellor Olaf Scholz to vote against the measure in Friday’s vote by European Union member states. Continue reading “Exclusive: Germany to vote against EU tariffs on Chinese electric vehicles, sources say”

BRUSSELS, (Reuters) – European Union members face a pivotal vote on Friday on whether to impose tariffs of up to 45% on imports of Chinese-made electric vehicles in the bloc’s highest profile trade case, which risks retaliation from Beijing.

The European Commission, which oversees the bloc’s trade policy, proposed final duties for the next five years to counter what it sees as unfair Chinese subsidies after a year-long anti-subsidy investigation. Continue reading “EU governments face pivotal vote on Chinese EV tariffs”

Source : PTI | New Delhi: Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, is expected to launch its much-awaited INR 25,000-crore initial share-sale for public subscription on October 14, people familiar with the development said on Thursday. This would be the largest initial public offering (IPO) in India after LIC’s initial share sale of INR 21,000 crore.

According to the Draft Red Herring Prospectus (DRHP) filed in June, Hyundai Motor India’s proposed IPO is entirely an Offer-for-Sale (OFS) of 142,194,700 equity shares by promoter Hyundai Motor Company, with no fresh issue component. Continue reading “Hyundai Motor India may launch its INR 25,000 cr IPO on Oct 14”

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Summary

• EU to vote on tariff proposal for Chinese EVs on Friday
• France, Greece, Italy and Poland say they will vote in favour, sources say
• Their support should be enough to pass the vote
• France’s Macron says China’s level of subsidies ‘unbearable’

BRUSSELS, (Reuters) – France, Greece, Italy and Poland will vote on Friday in favour of tariffs of up to 45% on imports of electric vehicles (EVs) made in China, sources said, enough to push through the European Union’s highest profile trade measures, risking potential retaliation from Beijing. Continue reading “EU has enough support to impose Chinese EV tariffs, sources say”

(Reuters) – Toyota Motor will postpone the start of electric-vehicle production in North America to the first half of 2026 due to design adjustment and slowing EV sales, the Nikkei business daily reported on Thursday.

The Japanese automaker recently told suppliers the start date for production of its first battery EV model at its factory in the U.S. state of Kentucky – a three-row SUV – will be delayed by several months, the Nikkei said. Continue reading “Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports”

Summary

• Tesla’s FSD software lets ride-hail drivers work longer hours, increasing their profit
• Drivers report critical shortcomings with FSD, including sudden acceleration and braking
• Tesla on Oct. 10 is set to unveil its robotaxi product whose software will be based on FSD

(Reuters) – A self-driving Tesla carrying a passenger for Uber rammed into an SUV at an intersection in suburban Las Vegas in April, an accident that sparked new concerns that a growing stable of self-styled “robotaxis” is exploiting a regulatory gray area in U.S. cities, putting lives at risk. Continue reading “Uber and Lyft drivers use Teslas as makeshift robotaxis, raising safety concerns”

(Reuters) – Toyota Motor will postpone the start of electric-vehicle production in North America to the first half of 2026 due to design adjustment and slowing EV sales, the Nikkei business daily reported on Thursday.

The Japanese automaker recently told suppliers the start date for production of its first battery EV model at its factory in the U.S. state of Kentucky – a three-row SUV – will be delayed by several months, the Nikkei said. Continue reading “Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports”

Summary

• Introduction of the much anticipated new Virtus GT Line and GT Plus Sport, epitomizing sporty aesthetics in a new black themed avatar
• Enhanced feature package on the new GT Line: additional features such as 20.32 cm Digital cockpit, Electric sunroof, Laser red ambient lighting, Alu pedals, Auto headlights, Rain sensing wipers, Auto dimming IRVM and more
• Licensed to thrill: commanding the No.1 position in the segment, the popular Virtus now in its GT Plus Sport variant, gets 23 new aesthetic and feature updates; complementing its blistering performance with sporty design elements
• “More for Less” – Introducing the new Highline Plus variant: Volkswagen India introduces the new Highline Plus variant powered by the 1.0l TSI petrol engine on both the Taigun and Virtus car lines. Feature highlights of this variant (over and above the Highline) include 20.32 cm Digital cockpit, Auto dimming IRVM, KESSY: Push button start stop, Electric sunroof, Auto Headlights, Rain sensor, Auto coming/ leaving home lights and much more
• Enhanced entertainment on the go with the subwoofer and amplifier now being a standard on the Topline variant across Taigun and Virtus
• Refreshed offer structure: Both Volkswagen Taigun and Virtus will now be offered to customers under the ‘Chrome’ and ‘Sport’ offer structures

Mumbai: Volkswagen India today launched the much-awaited Virtus GT Line and Virtus GT Plus Sport that personify customer aspirations in a cool new aesthetically enhanced avatar. The Brand has also introduced an enhanced feature package for the Taigun GT Line while reinvigorating the line structure with the introduction of a new Highline Plus variant for both India 2.0 car lines. Continue reading “Volkswagen India introduces the Virtus GT Plus Sportand GT Line; along with a refreshed line structure offering: “More for Less””

Summary

• GM to deliver message focused on stability over aggressive growth
• Investors concerned about EV losses and competition from China
• Barra: operations in China are “unsustainable” without a restructuring
• GM to highlight combustion-engine vehicle profits and new SUV launches
• Shareholders eager to hear how GM intends to bring down EV costs

DETROIT, (Reuters) – General Motors will assure investors next Tuesday that there is no need to panic about decelerating demand for electric vehicles and the U.S. automaker could even improve its profits in 2025, according to two people familiar with the plans. Continue reading “GM seeks to ease shareholders’ nerves at investor day”

MILAN, (Reuters) – Automaker Stellantis’ output in Italy is set to drop below 500,000 vehicles this year from 751,000 in 2023, the FIM-CISL union said on Wednesday, citing persistently soft market demand, especially for electric vehicles.

The projection signals an output level well below the target that Stellantis, whose brands include Fiat and Alfa Romeo, is discussing with the Italian government, of one million vehicles – for both passenger cars and vans – by the end of this decade. Continue reading “Stellantis’ Italian output to drop below 500,000 units this year, union warns”

(Reuters) – Toyota Motor will postpone the start of electric-vehicle production in North America to the first half of 2026 due to design adjustment and slowing EV sales, the Nikkei business daily reported on Thursday.

The Japanese automaker recently told suppliers the start date for production of its first battery EV model at its factory in the U.S. state of Kentucky – a three-row SUV – will be delayed by several months, the Nikkei said. Continue reading “Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports”

(Reuters) – Tesla’s most affordable Model 3 compact sedan was no longer available for order in the U.S., according to the EV maker’s website on Wednesday.

The Model 3 Standard Range Rear-Wheel Drive, priced at $38,990, uses lithium iron phosphate (LFP) battery cells sourced from China. Continue reading “Tesla discontinues most affordable Model 3 variant in US, website shows”