STOCKHOLM, (Reuters) – Sweden’s Northvolt said on Thursday it will seek U.S. Chapter 11 bankruptcy protection as the cash-strapped battery start-up seeks to sort out its finances.
The company went in a matter of months this year from being Europe’s best shot at a home-grown electric-vehicle battery champion to racing to stay afloat, hobbled by production problems and as funding ran out. Continue reading “Northvolt goes from Europe battery promise to crisis”
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Continue reading “WAF Auto News | The Auto World This Week (22nd November 2024)”
TOKYO, (Reuters) – About 6% of Nissan Motor staff in the United States have accepted early retirement packages, a company spokesperson said on Thursday, as part of the struggling Japanese carmaker’s plan to cut 9,000 jobs worldwide.
Nissan had about 17,000 employees in the U.S. as of March, according to a security filing. Roughly 1,000 U.S. employees are set to leave Nissan by the end of this year as a result of the early retirements. Continue reading “Nissan says about 1,000 US staff accept early retirement”
BERLIN, (Reuters) – Mercedes-Benz plans to cut costs by several billion euros per year in the coming years, the Handelsblatt newspaper reported on Thursday, citing a spokesperson for the German carmaker.
According to Handelsblatt, the spokesperson left open exactly how the costs are to be cut and did not answer questions about possible job cuts. Continue reading “Mercedes plans to cut costs by several billion euros per year, reports Handelsblatt”
TOCHIGI, (Reuters) – Honda Motor aims to double the driving range of its electric cars by the late 2020s when they start to adopt all-solid-state batteries, a new type of power source under development, the head of its research unit said on Wednesday.
All-solid-state batteries, replacing liquid-state lithium-ion batteries, will produce twice the driving range by the end of this decade and over 2.5 times more by the 2040s, said Keiji Otsu, president of Honda R&D. Continue reading “Honda hopes to double EV driving range with solid-state batteries, R&D chief says”
Summary
SAN FRANCISCO, (Reuters) – Hyundai Motor unveiled its first three-row electric SUV on Wednesday, pushing into a market for big family cars that global automakers hope will one day be a profit powerhouse. Continue reading “Hyundai unveils big electric SUV in fast-growing market”
Source : PTI | State-owned Solar Energy Corporation of India (SECI) has inked an initial pact with H2Global Stiftung to establish a collaborative framework to promote Green Hydrogen initiatives. This aims to enhance knowledge exchange on market-based mechanisms and foster cooperation between India and importing countries, thereby contributing to the global advancement of the green hydrogen economy, according to an official statement.
According to the statement SECI, under the Ministry of New and Renewable Energy, signed a Memorandum of Understanding (MoU) with H2Global Stiftung to establish a collaborative framework to promote Green Hydrogen initiatives.
Continue reading “SECI signs MoU with H2Global Stiftung to promote green hydrogen initiatives”
Source : PTI | The chairman of Indian Space Research Organisation (ISRO) has offered to help the domestic automobile industry produce vehicle sensors, which are currently imported at high prices.
Speaking at the Bengaluru Tech Summit on Wednesday, S Somanath said that if ISRO can produce space-graded sensors for its rockets, then the country’s automobile industry can collaborate with the space agency and manufacture vehicle sensors indigenously. Continue reading “‘If India can make sensors for rockets, it can make for cars too’”
(Reuters) – Uber Technologies launched “XXL” rides with extra trunk space on Wednesday, betting on increased demand stemming from Thanksgiving holiday travelers, as the ride-hailing company seeks to overcome a slowdown in its mainstay app-based taxi business.
The Uber XXL service, catered toward airport travel, is available in more than 60 airports globally, including 40 in the United States and Canada, the company said. Continue reading “Uber launches new rides to capitalize on Thanksgiving travel demand”
SHANGHAI, (Reuters) – Chinese electric car maker Xpeng is expected to break even sometime later in 2025, its President Brian Gu said, betting that strong demand for its new models and expanding into new overseas markets will improve its profitability.
Meeting the goal Xpeng first set in 2023 could make it the first Chinese automaker to turn profitable mainly on EV sales. Rivals BYD and Li Auto are profitable but they rely on hybrids for the majority of total car sales. Continue reading “Chinese EV maker Xpeng to break even later next year, president says”
WASHINGTON, (Reuters) – A group of nine Democratic senators on Wednesday urged U.S. auto regulators to move quickly to issue new vehicle safety rules in the face of traffic deaths that remain significantly above pre-COVID levels.
Senators Ed Markey, Richard Blumenthal, Dick Durbin, Jack Reed, Ron Wyden and others wrote the National Highway Traffic Safety Administration (NHTSA) asking the agency why it has missed some deadlines for writing new safety regulations. Continue reading “US senators push auto safety agency to finalize vehicle rules”
Summary
BERLIN/WOLFSBURG, (Reuters) – Volkswagen workers offered on Wednesday to back 1.5 billion euros ($1.6 billion) in cost savings if it rules out closing plants in Germany, but warned the automaker would face an historic battle if it pressed ahead with swingeing cuts. Continue reading “VW union proposes $1.6 billion of cuts, but no plant closures”
Summary
LONDON/COLOGNE, (Reuters) – Ford said it would cut around 14% of its European workforce on Wednesday, blaming losses in recent years due to weak electric vehicle demand, poor government support for the EV shift and competition from subsidized Chinese rivals. Continue reading “Ford to cut European jobs as EV shift, Chinese rivals take toll”
STOCKHOLM, (Reuters) – The Swedish government does not plan to take a stake in lithium-ion battery maker Northvolt, Deputy Prime Minister Ebba Busch told Reuters on Tuesday as the company continues to explore options to stay afloat.
Northvolt has in a matter of months gone from being Europe’s best shot at a home-grown electric-vehicle battery champion to exploring options to stay in business, hobbled by production problems, the loss of a major customer and a lack of funding. Continue reading “Sweden has no plans to take stake in Northvolt, deputy PM says”
Summary
WASHINGTON, (Reuters) – President-elect Donald Trump’s incoming administration plans to target federal regulations championed by President Joe Biden that aim to make automobiles more fuel-efficient and incentivize a shift toward electric vehicles, according to two sources in contact with Trump’s transition team. Continue reading “Trump administration plans to roll back Biden’s stricter fuel-efficiency standards”
DETROIT, (Reuters) – Volkswagen appointed former Rivian executive Kjell Gruner as head of its American business on Tuesday, as the automaker faces a choppy electric transition and ongoing negotiations with the United Auto Workers union in the region.
Gruner, previously EV startup Rivian’s chief commercial officer and head of business growth, succeeds Pablo Di Si, who has been in the role since 2022. Continue reading “Volkswagen appoints former Rivian executive as head of American business”
Summary
DETROIT, (Reuters) – Stellantis said on Tuesday it will deploy a new vehicle system that will support assembly of gasoline, hybrid and electric models, but in a sign of how turbulent the electric-vehicle transition is, the automaker also delayed production of Ram electric pickup trucks. Continue reading “Stellantis unveils technology to support flexible EV production, delays Ram electric pickup”
Source : PTI | Tyre makers are expected to see a 7-8 per cent topline growth during the current fiscal, driven by a 3-4 per cent increase in realisations and volume, ratings agency Crisil Ratings said on Monday.
This would be for the second consecutive year that the estimated revenue growth for the tyre manufacturer will be in single digit (albeit nearly double than that of last fiscal) and after logging a compound annual growth rate of 21 per cent between fiscals 2021 and 2023, Crisil Ratings said.
Continue reading “Tyre makers to see 7-8 pc topline growth this fiscal: Crisil”
Source : PTI | City-based electric two-wheeler maker Odysse Electric on Monday said it has secured an order for 40,000 vehicles from EV-as-a-Service platform Zypp Electric as part of an investment deal. Zypp’s investment is expected to bolster Odysse Electric’s B2B market presence and support the expansion of its dealership network nationwide, the company said without disclosing the nature or quantum of investment.
The 40,000 electric vehicles are to be supplied over the period of the next three years, Odysse said.
Continue reading “Odysse to supply 40,000 EVs to Zypp as part of investment deal”
Source : PTI | New Delhi: Delhi Transport Department has impounded 2,234 overage vehicles between Oct 1 and Nov 15 as part of an ongoing drive.
The initiative, launched last month, aims to address the deteriorating air quality in the national capital. According to official data, the seized vehicles include 260 diesel four-wheelers that are over 10 years old, alongside 1,156 petrol two-wheelers and 818 petrol three and four-wheelers, all older than 15 years. Continue reading “Delhi impounds more than 2,200 overage vehicles to fight pollution”
Source : PTI | Rating agency ICRA on Monday revised downwards the outlook for passenger vehicle factory dispatches to showrooms in the current fiscal on acccount of high inventory levels. Despite good retail sales, a year-on-year growth of 6% in April-October FY2025 partially on account of an early festive season, the high inventory levels for the industry curtailed wholesale volume growth, as per a report on the domestic automotive industry by the domestic ratings agency.
“ICRA has thus revised the outlook for the wholesale volume growth for the industry in FY2025 downwards to 0-2%,” it added. Continue reading “ICRA cuts PV factory dispatch outlook down to 0-2% due to high inventory level”
RENNES, France, (Reuters) – Stellantis’ will adapt to changes in the U.S. car market expected under a Trump government, CEO Carlos Tavares said on Monday, with a platform that can offer electric, hybrid or gasoline versions of its models.
President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters last week. Continue reading “Stellantis CEO says will adapt to U.S. market under Trump”
Summary
BAKU, (Reuters) – The U.S. utility industry wants the incoming Trump administration and Republican-led Congress to preserve clean energy and EV tax credits in the Inflation Reduction Act, Pedro Pizarro, the CEO of utility Edison International said on Saturday. Continue reading “US utilities want Trump, Republicans to save IRA tax credits, Edison CEO says”
WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration said on Monday it has opened two new investigations into Ford recalls, the latest scrutiny by U.S. regulators of the No. 2 U.S. automaker.
Last week, Ford agreed to a $165 million civil penalty after an NHTSA investigation found the automaker failed to recall vehicles with defective rearview cameras in a timely manner. Continue reading “US opens two new probes into Ford recalls after settlement”
(Reuters) – Tesla shares rose more than 5% on Monday after Bloomberg News reported that President-elect Donald Trump’s transition team was planning to set up federal regulations for autonomous vehicles.
The report comes days after Trump named the automaker’s CEO, Elon Musk, as a co-head of the incoming administration’s government efficiency department. Continue reading “Tesla gains on report Trump’s team planning federal self-driving vehicle regulations”
Summary
SHANGHAI/BEIJING, (Reuters) – China’s Xiaomi Corp said on Monday it aimed to deliver 130,000 electric vehicles this year, raising its forecast for the third time as the automaker upstart posted a 30.5% jump in third-quarter revenue. Continue reading “Xiaomi raises EV deliveries goal again on surging demand”
STOCKHOLM, (Reuters) – Swedish battery maker Northvolt has been discussing the possibility of bankruptcy protection in the United States as one of several options for the cash-strapped company to survive, two people with knowledge of the matter told Reuters.
Northvolt has in recent months gone from being Europe’s best shot at a home-grown electric vehicle battery champion to racing to stay afloat by slimming down, hobbled by production problems, the loss of a major customer and trouble raising more cash. Continue reading “Northvolt has considered US bankruptcy protection, sources say”
Source : PTI | New Delhi: Tata Motors is expecting passenger vehicle (PV) retail sales to maintain growth momentum in the ongoing quarter driven by year-end demand, according to a top company executive. As per FADA data, festive demand helped PV retail sales rise 32 per cent year-on-year (YoY) to 4,83,159 units in October.
The segment reported a 7 per cent YoY increase to 6,03,009 units during the 42-day festival period this year. Continue reading “Tata Motors expects PV retail sales to sustain momentum in Q3”
Source : PTI | India is set to enter a transformative “smartphone era” for cars in 2025, with the introduction of vehicles featuring 5G M2M connectivity and advanced AI technologies, according to the latest findings from Techarc’s India Connected Consumer Report 2025. The report said the automotive sector will skip 4G and will enable connectivity using the latest 5G cellular technology.
It observed that consumers are interested in spending money on improving the value proposition in terms of features, quality and experience rather than exploring too many smart devices.
Source : PTI | Telangana government on Sunday announced providing 100 per cent exemption from road tax and registration fees for electric vehicles (EV) purchased and registered in the state for the initial period of two years up to December 31, 2026. Transport Minister Ponnam Prabhakar said under the Government Order (GO) 41, the new EV policy will come into place from Monday (November 18). This is aimed at making Hyderabad pollution-free, he said.
The government decided to provide 100% exemption from road tax and registration fees for electric two-wheelers, four-wheelers, commercial passenger vehicles such as taxis, private cars, electric three-seater auto-rickshaws, electric light goods carriers including three-wheeled goods vehicles, electric tractors and electric buses, according to the GO. Continue reading “Telangana announces 100% exemption on road tax, registration fees for electric vehicles”
BAKU, (Reuters) – Cancelling the U.S. electric vehicle tax credit would be counterproductive and cede ground to car-makers in China, U.S. Energy Secretary Jennifer Granholm told reporters on Friday at the COP29 climate conference in Baku.
President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit as part of broader tax-reform legislation, Reuters reported Thursday. Continue reading “Rescinding US EV tax credit would cede ground to China, Granholm says”
(Reuters) – General Motors is laying off nearly 1,000 workers worldwide, mostly in the U.S., as it looks to streamline operations, a source told Reuters on Friday.
GM confirmed in a statement it had made job cuts but did not specify a number. Continue reading “GM laying off nearly 1,000 workers, mostly in US, source says”
WASHINGTON, (Reuters) – A group representing major electric vehicle and battery manufacturers on Friday urged President-elect Donald Trump not to kill tax credits for electric vehicle sales and production, citing the impact on key states that voted for the Republican.
The Zero Emission Transportation Association – whose members include Rivian, LG, Tesla, Uber, Lucid and Panasonic – said production tax credits have driven enormous job gains in states like Ohio, Kentucky, Michigan and Georgia, and warned killing those production and consumer tax credits would undercut those investments and hurt American job growth. Continue reading “EV companies, battery makers urge Trump not to kill vehicle tax credits”
STOCKHOLM, (Reuters) – Swedish battery maker Northvolt has been discussing the possibility of bankruptcy protection in the United States as one of several options for the cash-strapped company to survive, two people with knowledge of the matter told Reuters.
Northvolt has in recent months gone from being Europe’s best shot at a home-grown electric vehicle battery champion to racing to stay afloat by slimming down, hobbled by production problems, the loss of a major customer and trouble raising more cash. Continue reading “Northvolt has considered US bankruptcy protection, sources say”
Summary
SEOUL, (Reuters) – Hyundai Motor has named Jose Munoz, its U.S. chief and global chief operating officer, as co-CEO, the first appointment of a foreign national to that rank at a major South Korean conglomerate. Continue reading “Hyundai Motor elevates US chief to co-CEO position as it braces for Trump”
WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration said Thursday Ford Motor has agreed to a $165 million civil penalty after a government investigation found the automaker failed to recall vehicles with defective rearview cameras in a timely manner.
Under a consent order that will last at least three years, the No. 2 U.S. automaker must pay $65 million in cash, spend $45 million on advanced data analytics, a new testing facility and other projects and $55 million will be held in abeyance subject to complying with the agreement. Continue reading “Ford Motor hit with $165 million US penalty over delayed rearview camera recalls”
Summary
(Reuters) – Pony AI is seeking a valuation of up to $4.48 billion in its U.S. initial public offering, it said on Thursday, as the Chinese self-driving firm moves ahead with its long-sought plan for a New York listing. Continue reading “Chinese self-driving firm Pony AI seeks up to $4.5 bln valuation in US IPO”
Summary
(Reuters) – President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Continue reading “Exclusive: Trump’s transition team aims to kill Biden EV tax credit”
Source : PTI | Mahindra Group CEO and Managing Director Anish Shah on Thursday pitched for a balance between tariff and non-tariff barriers for a stronger manufacturing sector in the country. “Indian industry needs no protection. We’ve had no protection for the last 20 years and if we had protection, we would not have the quality that we have today,” Shah said, while speaking at the CNBC TV18 Global leadership summit here.
“With regard to duties, the questions are around non-tariff barriers along with tariff barriers… And frankly they should (be there) because that will put Indian manufacturing in a much stronger place,” he said. Continue reading “Need balance between tariff, non-tariff barriers to strengthen manufacturing sector: Mahindra CEO”
Source : PTI | New Delhi: With pollution reaching alarming levels, the central pollution watchdog imposed restrictions under the third stage of the GRAP in Delhi-NCR on Thursday, including a ban on construction and demolition activities.
The air quality in the capital remained in the “severe” category for a second consecutive day, prompting authorities to impose stringent anti-pollution measures. The restrictions will come into force from Friday.
Continue reading “Curbs under GRAP stage-3 to come into force in Delhi-NCR from today”
