Aug 30 (Reuters) – A tight U.S. labor market, expiration of cyclical contracts and high living costs have triggered tough negotiations for pay hikes and other benefits by workers and strikes and protests across industries.

Some 295,500 workers have been involved in stoppages through July this year, as per preliminary U.S. Bureau of Labor Statistics data, putting 2023 on track to become the busiest year for strikes since 2019.

Continue reading “Factbox: From UPS to Detroit Three automakers, US labor unions flex muscle”

TOKYO, Aug 30 (Reuters) – A malfunction that shut down all of Toyota Motor Corp’s (7203.T) plants in Japan on Tuesday happened during an update of the automaker’s parts ordering system, two people with knowledge of the matter said.

The world’s top-selling automaker has not given any details of what went wrong to cause the closure and a company spokesperson on Wednesday was unable to say whether the glitch happened during a system update.

Toyota, which restarted operations at its Japanese assembly plants on Wednesday, has seen production recovering this year. The full-day outage at its domestic plants could be equivalent to $356 million in revenue, Reuters calculations based on output data and financial reporting showed.

Continue reading “Toyota plant shutdown happened during system update, sources say”

Summary

• Toyota suspends production at all 14 domestic assembly plants
• System failure preventing Toyota from ordering parts
• Cause under investigation, not likely to be a cyberattack
• Plants make up third of Toyota world output -Reuters calculation
• Stock closes down 0.2%

TOKYO, Aug 29 (Reuters) – Toyota Motor (7203.T) will restart operations at its assembly plants in Japan on Wednesday, after a production system malfunction brought domestic output to a halt at the world’s biggest-selling automaker. Continue reading “Toyota to restart Japan production on Wednesday after system failure”

SHANGHAI, Aug 29 (Reuters) – Chinese startup Inceptio expects the number of trucks in China using its driver-assist technology will quadruple by mid-2024 from around 600 currently, and also plans to begin sales overseas next year.

Inceptio says the tech enables a very long-distance trucking trip to be completed by one driver rather than two as is often required and can reduce hauling costs by 5% to 7%. Continue reading “Inceptio sees big jump in China sales of driver-assist truck tech, plans overseas foray”

Source : PTI | Ride-hailing app Snap E, which operates EV cabs, is planning to more than double its current fleet by the end of FY’24, and venture into smaller cities, a company official said on Tuesday. The company also plans to induct more women drivers in its workforce, said Mayank Bindal, the managing director of EC Wheels, which operates under the Snap-E brand.

“Besides expanding in the greater Kolkata region, which is our base, we plan to venture into smaller cities such as Bhubaneswar, Guwahati, Varanasi, Raipur, Indore, Bhopal, Jaipur and Ahmedabad over the next few years because of the potential of the untapped market,” he told PTI in an interview. Continue reading “Snap-E Cabs looking to more than double its fleet in FY’24, expand to smaller cities”

Source : PTI | London Mayor Sadiq Khan’s controversial Ultra Low Emission Zone (ULEZ) expansion to cover every borough of the UK capital came in force on Tuesday, which means drivers must pay a charge of GBP 12.50 per day to drive a non-compliant vehicle anywhere in the city now. Those driving in the zone in a high emissions non-compliant car must pay the daily surcharge online or by phone up to three days after they travelled. The penalty for not paying is set at GBP 180, which goes down to GBP 90 if it is paid within 14 days.

The expansion has proved controversial because of the steep costs involved for people, despite a scrappage compensation scheme for old vehicles. Continue reading “London’s Ultra Low Emission Zone expanded to cover entire city”

Source : PTI | Maruti Suzuki India expects to invest around INR 45,000 crore to double its production capacity to 40 lakh units annually in the next eight years, company Chairman RC Bhargava said on Tuesday. The company will also take up suggestions by shareholders for a stock split to its board for consideration, he said while speaking at the annual general meeting of the carmaker.

As the global auto industry strives for carbon neutrality, he said Maruti Suzuki will also deal with a lot of technologies, including electric vehicles (EVs), hybrids, CNG, ethanol-blended and use of compressed biogas going forward as it is difficult to predict what will happen in the next eight to ten years in terms of new technologies. Continue reading “Maruti expects to invest INR 45,000 cr to double annual capacity to 40 lakh units in 8 yrs: Chairman RC Bhargava”

SAN FRANCISCO, Aug 28 (Reuters) – Tesla Inc (TSLA.O) is set to defend itself for the first time at trial against allegations that failure of its Autopilot driver assistant feature led to death, in what will likely be a major test of Chief Executive Elon Musk’s assertions about the technology.

Self-driving capability is central to Tesla’s financial future, according to Musk, whose own reputation as an engineering leader is being challenged with allegations by plaintiffs in one of two lawsuits that he personally leads the group behind technology that failed. Wins by Tesla could raise confidence and sales for the software, which costs up to $15,000 per vehicle. Continue reading “Focus: Tesla braces for its first trial involving Autopilot fatality”

BEIJING, Aug 28 (Reuters) – China’s BYD Co Ltd (002594.SZ), on Monday said first-half profit jumped 204.7% as the new energy vehicle maker broke its delivery record and retained its crown as China’s biggest-selling auto brand.

Net earnings for the six-months ending June 30 reached 10.95 billion yuan ($1.50 billion), up 204.7% from 3.6 billion yuan a year earlier, on a 72.7% rise in revenue to 260.12 billion yuan, BYD said in a stock market filing. Continue reading “China’s BYD H1 profit triples as deliveries break record”

Aug 28 (Reuters) – Shares of Vietnamese electric-vehicle maker Vinfast surged 21% on Monday, extending a rally from last week that more than quadrupled its market value to $160 billion.

The company made a blowout debut on Wall Street this month and has quickly grown in valuation to become the third-most valuable automaker – only behind Tesla (TSLA.O) and Toyota (7203.T). Continue reading “Vinfast rallies on after becoming world’s third-most valuable automaker”

PARIS, Aug 28 (Reuters) – French car maker Renault (RENA.PA) is looking to list its Ampere electric vehicle business on the stock market in the spring of 2024, CEO Luca de Meo said on Monday.

De Meo told BFM TV that Renault was targeting Nov 1 of this year for the unit to be separated from the rest of the company as a preparatory step in the run-up to the initial public offering. Continue reading “Renault looking at spring 2024 IPO for Ampere, CEO says”

Source : PTI | Nepal’s truck transporters on Monday demanded a ban on Indian cargo vehicles’ entry into the Himalayan nation, citing concerns about the growing adverse impact of unhealthy competition on domestic cargo businesses. Addressing a press conference, Federation of Truck Transport Entrepreneurs Nepal (FTTEN) general secretary Rajendra Bikram Baniya said that while Indian trucks enjoy free entry into Nepal, their vehicles face various challenges when operating in India.

He, however, did not elaborate on the challenges. Continue reading “Nepal truck transporters demand ban on entry of Indian cargo vehicles”

HONG KONG, Aug 28 (Reuters) – Chinese electric car company Xpeng (9868.HK) said it will acquire ride-hailing giant Didi’s smart electric vehicle unit and the two companies will form a strategic partnership.

Xpeng’s shares surged around 16% in early Monday trade.

As part of the deal, which could be worth as much as $744 million, Xpeng will launch an A-class model next year under a new brand, currently called MONA, aiming to expand in the mass-market segment. Continue reading “China’s Xpeng to acquire Didi’s smart EV unit in deal worth up to $744 mln”

Aug 28 (Reuters) – Electric vehicle maker BYD Co Ltd (002594.SZ) said on Monday its unit struck a deal with U.S.-based manufacturing firm Jabil Inc’s (JBL.N) Singaporean division to buy its mobility business in China for 15.8 billion yuan ($2.17 billion).

The deal will expand BYD Electronic (International) Co’s (BE) customer base, product portfolio, and its business of smartphone components, and boost its growth as it looks to capture the potential growth in the sector. Continue reading “EV maker BYD buys Jabil’s China manufacturing business for $2.2 billion”

Aug 27 (Reuters) – Canadian union Unifor said on Sunday that its members had voted for strike mandates against the Detroit Three automakers that would authorize their bargaining committees to take job action, if needed, to achieve fair collective agreements.

Unifor, which represents 18,000 union members, had opened formal negotiations with Ford Motor Co(F.N) , General Motors Co (GM.N) and Stellantis (STLAM.MI) on August 10 in Toronto. Continue reading “Canadian union Unifor votes for strike mandate against Detroit Three automakers”

Aug 25 (Reuters) – The United Auto Workers (UAW) union on Friday said members voted overwhelmingly in favor of authorizing a strike at the Detroit Three automakers if agreement is not reached before the current four-year contract expires on Sept. 14.

The authorization was approved by 97% of voting members at General Motors (GM.N), Ford Motor (F.N) and Stellantis (STLAM.MI), said UAW President Shawn Fain, who leads the union that represents about 150,000 workers. Continue reading “UAW votes overwhelmingly to authorize strike at Detroit Three automakers”

Aug  (Reuters) – The United Auto Workers (UAW) union at Ultium Cells, a joint venture of General Motors (GM.N) and LG Energy Solution (373220.KS) in Lordstown, Ohio, on Sunday said members voted in favor by 895 to 22 votes to ratify an interim agreement that immediately raises wages by $3 to $4 an hour.

Earlier this week, General Motors and LG Energy Solution said they will hike the wages of workers at its Ohio plant by an average of 25% after some U.S. senators blasted the facility for paying workers as little as $16 an hour. Continue reading “UAW workers ratify Ultium Cells wage agreement in Ohio”

Aug (Reuters) – The United Auto Workers (UAW) union on Friday said members voted overwhelmingly in favor of authorizing a strike at the Detroit Three automakers if agreement is not reached before the current four-year contract expires on Sept. 14.

The authorization was approved by 97% of voting members at General Motors (GM.N), Ford Motor (F.N) and Stellantis (STLAM.MI), said UAW President Shawn Fain, who leads the union that represents about 150,000 workers. Continue reading “UAW votes overwhelmingly to authorize strike at Detroit Three automakers”

Aug (Reuters) – Blue Cross Blue Shield Association and its Michigan affiliate have asked a U.S. judge to dismiss a lawsuit from Ford Motor (F.N) accusing them of a conspiracy that artificially inflated how much the automaker was paying for insurance premiums and other commercial health insurance services.

In a pair of filings, the Blue Cross defendants on Thursday argued Ford had not shown that the insurers blocked any competing company from selling insurance products. Continue reading “Ford Motor Co’s health insurance antitrust suit filed too late, Blue Cross argues”

Source : PTI | The EU on Saturday voiced concerns over “rapid” rise in refined petroleum products made from Russian crude oil in India finding way to the European market, saying it defies the purpose of the economic sanctions against Moscow that are aimed at reducing its ability to finance the war on Ukraine. The European Union’s Executive Vice-President and Commissioner for TradeValdis Dombrovskis, said oil products processed from Russian crude oil are arriving at the European market in “large quantities” and the grouping is looking at ways to deal with it.

In an interaction with a small group of journalists, the EU Vice President, currently on a visit to India, accused Russia of using its energy supplies, and food as “tools” of “war and manipulation” to continue its attack on Ukraine. Continue reading “EU looking at petroleum products made from Russian crude oil in India finding way to its market”

Source : PTI | Tata Motors is committed to migrate its facilities to become net zero in greenhouse gas emissions by 2045 and is working on multiple technologies to achieve this including electric and hydrogen fuel technology, its Executive Director Girish Wagh said. The USD 37 billion organisation which is the country’s leading player in the commercial vehicle segment will continue to invest annually over INR 2,000 crore in the commercial vehicle business, the official said.

“As a part of sustainable transition which is an irreversible megatrend, Tata Motors is committed to become net zero in greenhouse gas emissions by 2045. As a part of that, we have to work towards zero-emission vehicle technologies for our entire portfolio as also ensuring that our facilities emit no Co2 or they become net zero co2 emission…we are working on multiple vehicle technologies,” Wagh told PTI in an interview here. Continue reading “Tata Motors committed to migrate facilities to zero greenhouse gas emissions by 2045: Girish Wagh”

Aug (Reuters) – The United Auto Workers (UAW) union on Friday said members voted overwhelmingly in favor of authorizing a strike at the Detroit Three automakers if agreement is not reached before the current four-year contract expires on Sept. 14.

The authorization was approved by 97% of voting members at General Motors (GM.N), Ford Motor (F.N) and Stellantis (STLAM.MI), said UAW President Shawn Fain, who leads the union that represents about 150,000 workers. Continue reading “UAW votes overwhelmingly to authorize strike at Detroit Three automakers”

Aug (Reuters) – Blue Cross Blue Shield Association and its Michigan affiliate have asked a U.S. judge to dismiss a lawsuit from Ford Motor (F.N) accusing them of a conspiracy that artificially inflated how much the automaker was paying for insurance premiums and other commercial health insurance services.

In a pair of filings, the Blue Cross defendants on Thursday argued Ford had not shown that the insurers blocked any competing company from selling insurance products. Continue reading “Ford Motor Co’s health insurance antitrust suit filed too late, Blue Cross argues”

Aug  (Reuters) – The U.S. trucking industry may begin to see an uptick in freight demand in the back half of the year after grappling with another quarter of lower profits due to a slump in package volumes, company executives and analysts said.

The expectations have been largely fueled by U.S. retailers’ comments on their improving inventory position and prospects of better inbound container shipments. Continue reading “U.S. trucking firms see freight downturn reversing after dour quarter”

Source : PTI | New Delhi: JBM Auto is gearing up to participate in the recently announced scheme under which 10,000 electric buses will be deployed in 169 cities under the public-private partnership model, a top company official said on Friday. The company, which already has orders for 5,000 electric buses from across the country in its kitty, is looking to go through the policy fine print before deciding its future course of action.

“We are very well positioned with our product range, manufacturing capacity and technology to execute this but definitely we are waiting for further clarity on the policy in the next few weeks,” JBM Group Vice Chairman and Managing Director Nishant Arya told PTI on the sidelines of the B20 Summit here. Continue reading “JBM Auto gearing up to participate in PM-eBus Sewa scheme”

SEOUL, Aug 25 (Reuters) – Hyundai Motor’s (005380.KS) unionised workers in South Korea voted on Friday for possible strike action after two months of talks with the company over wage increases and an extension of the retirement age stalled last week.

The union, one of the biggest in the country with about 44,000 members, said 88.93% of its members had approved strike action unless the company accept the demands. Continue reading “Hyundai Motor’s union in South Korea votes to strike”

Summary

• Tesla pushes for India EV import tax policy change-sources
• Proposes duty tax cut for EV makers who commit to invest-sources
• India considering plan, wary of impact on local players
• Tesla has expressed interest in India plant, cheaper EV

NEW DELHI, Aug 25 (Reuters) – India is working on a new electric vehicle policy that would slash import taxes for automakers that commit to some local manufacturing, following a proposal by Tesla (TSLA.O) which is considering entering the domestic market, people with direct knowledge said. Continue reading “Exclusive: With Tesla push, India mulls import tax cut if EV makers build locally”

DETROIT, Aug (Reuters) – Many smaller U.S. manufacturers that supply parts to the Detroit Three automakers will be at risk if a long United Auto Workers strike shuts down assembly lines starting next month, industry executives and analysts said.

Many small and medium-sized auto parts manufacturers are in a weak financial condition after the shock of pandemic shutdowns and subsequent semiconductor shortages that depressed vehicle production at General Motors (GM.N), Ford (F.N) and Stellantis NV’s (STLAM.MI) North American operations for much of the past three years, industry experts told Reuters. Continue reading “Analysis: Parts makers risk cash crunch in a Detroit auto strike”

Aug (Reuters) – New vehicle sales in the United States are expected to rise in August, helped by improved supply and strong demand for personal transport, a report from industry consultants showed on Thursday.

U.S. new vehicle sales, including retail and non-retail transactions, are estimated to reach 1,354,600 units in August, a 15.4% jump from a year earlier, according to the joint report by J.D. Power and GlobalData. Continue reading “US auto sales to rise in August on increased vehicle supply, strong demand”

Source : PTI | Revolt Intellicorp, one of the seven companies accused of violating phased manufacturing programme guidelines under the INR 10,000-crore FAME-II scheme, has repaid the subsidy claimed, along with interest, amounting to INR 50.02 crore to the government. Joint Secretary in the Ministry of Heavy IndustriesHanif Qureshi confirmed the repayment and said the ministry will give “a few weeks more” to six other companies found violating the Phased Manufacturing Programme (PMP) norms.

He said while notices were issued to the firms after giving them a hearing, more time will be given as some of them maintain that they have not violated norms and will be required to submit documents validating their claims. Continue reading “Revolt Intellicorp returns INR 50 cr claimed under FAME-II; 6 firms to get ‘few more weeks’”

Source : PTI | Lithium-ion battery recycling firm RecycleKaro on Thursday said it plans to invest INR 100 crore for setting up a nickel plant in Maharashtra with a capacity to produce 1,200 tonnes of the metal annually. Spread across 17 acres of land, the upcoming facility at Palghar district of the state will incorporate a plant capable of producing nickel from scrapped lithium-ion batteries and nickel hydroxide, RecycleKaro said in a statement.

The plant will commence production by the end of 2023, it said.

This venture is aimed at completing the value chain of a circular economy and meeting the surging demand for lithium-ion batteries in India’s fast expanding electric vehicle market, the company said. Continue reading “Battery recycling firm RecycleKaro to invest INR 100 cr to set up plant in Maharashtra”

Source : PTI | Union Road Transport and Highways Minister Nitin Gadkari on Wednesday said he will unveil a 100 % ethanol-fueled variant of Toyota’s Innova car on August 29. The Union minister, who has been exhorting automakers to come out with alternative fuel-powered and green vehicles, had last year launched a hydrogen-powered car, Toyota Mirai EV.

“On August 29, I am going to launch the popular (Toyota) Innova car on 100% ethanol,” Gadkari said while addressing the Mint Sustainability Summit here.

This car will be World’s first BS-VI (Stage-II), electrified flex-fuel vehicle. Continue reading “Nitin Gadkari to launch 100% ethanol-fueled car on Aug 29”

“WAF AutoNews” is World’s No.1 in World Auto News.
Click Here to See for yourself.

INDIA

MG Motor India expands its network in Hyderabad; adds three more touchpoints in a day ThePrint

Volkswagen India rolls out new brand communication Autocar

New Volkswagen Tiguan ready for global debut Autocar Continue reading “WAF Auto News | The Auto World This Week (25th August 2023)”

DETROIT, Aug (Reuters) – Hybrid gasoline-electric vehicles may not be dying as fast as some predicted in the auto sector’s rush to develop all-electric models.

Ford Motor (F.N) is the latest of several top automakers, including Toyota (7203.T) and Stellantis (STLAM.MI), planning to build and sell hundreds of thousands of hybrid vehicles in the U.S. over the next five years, industry forecasters told Reuters.

The companies are pitching hybrids as an alternative for retail and commercial customers who are seeking more sustainable transportation, but may not be ready to make the leap to a full electric vehicle. Continue reading “Focus: Gas-electric hybrid vehicles get a boost in the US from Ford, others”

Summary

• Bigger group could spearhead Malaysia EV growth – sources
• Consideration fits with government’s EV push
• Competition to become Southeast Asia EV hub heats up

SINGAPORE/BENGALURU, Aug 24 (Reuters) – Malaysian conglomerate Sime Darby (SIME.KL) said it is buying a majority stake in industrial group UMW Holdings (UMWS.KL) for 3.57 billion ringgit ($768.90 million) in a deal that could spearhead the country’s electric vehicle (EV) journey.

The 61.2% stake in UMW is being sold by the country’s top asset manager Permodalan Nasional Bhd (PNB), the biggest shareholder in both Sime Darby and UMW. Continue reading “Malaysia’s EV push accelerates as Sime Darby to buy majority stake in UMW”

BERLIN, Aug (Reuters) – Volkswagen (VOWG_p.DE) has begun purchasing strategically important chips it believes will be in short supply globally directly from 10 manufacturers including NXP Semiconductors (NXPI.O), Infineon Technologies (IFXGn.DE) and Renesas Electronics (6723.T) the carmaker said on Wednesday.

The German carmaker, which previously relied on its component suppliers to purchase chips, began striking direct deals with chipmakers last October to ensure its supply was secure, according to Karsten Schnake, head of a Volkswagen-wide taskforce for component supply founded in 2022. Continue reading “Volkswagen strikes direct supply deals for chips to avoid global shortage”