HONG KONG, June 14 (Reuters) – Chinese automaker BYD Co Ltd has restarted operations at two showrooms and a service centre in Hong Kong after they were vandalised earlier this week, BYD’s sole agent said in a notice on its website on Wednesday.

Restoration work on another showroom in the outlying district of Yuen Long in the New Territories was expected to be completed by the end of the week, BYD’s Hong Kong sole agent JC Motor Ltd said.

Continue reading “Chinese automaker BYD reopens two Hong Kong showrooms after vandalism”

DETROIT, June 13 (Reuters) – General Motors (GM.N) has signaled in a series of recent announcements on plant retoolings that it plans to keep its largest and most profitable combustion trucks and SUVs in production longer than expected – another 10 to 12 years, according to analysts and suppliers.

This should enable the automaker to reap tens of billions of dollars in additional profit, according to Reuters estimates, before it shifts completely to zero-emission electric vehicles in 2035.

Continue reading “Analysis: GM could reap billions by building combustion trucks and SUVs through 2035”

June 14 (Reuters) – Russian state entity NAMI said on Wednesday it had acquired a 100% stake in a factory producing anti-lock brakes and other systems for cars that was formerly owned by German technology group Robert Bosch.

NAMI, Russia’s Central Automobile and Engine Research and Development Institute, has been snapping up assets from global carmakers that left Russia over its invasion of Ukraine.

Continue reading “Russia takes over another Western asset with Bosch plant deal”

COPENHAGEN, June 14 (Reuters) – Swedish electric self-driving truck company Einride expects to reduce CO2 emissions in Norway by 2,100 tonnes over the coming three years as it partners up with Scandinavia’s leading postal service, PostNord, the company said on Wednesday.

Norway has the world’s highest number of electric vehicles per head of population and aims for all heavy vehicles to be zero-emission by 2040, potentially cutting CO2 emissions by 4.4 million tonnes or nearly 9% of the country’s annual emissions.

Continue reading “Self-driving truck company Einride expands into Norway”

TOKYO, June 13 (Reuters) – Toyota (7203.T) will introduce high-performance, solid-state batteries and other technologies to improve the driving range and cut costs of future electric vehicles (EVs), the automaker said on Tuesday, a strategic pivot that sent its shares higher.

The Japanese giant’s technology roadmap, covering aspects as varied as next-generation battery development and a radical redesign of factories, amounted to the automaker’s fullest disclosure of its plan to compete in the fast-growing market for EVs where it has lagged rivals led by Tesla (TSLA.O).

Continue reading “Toyota unveils sweeping plans for new battery tech, EV innovation”

TOKYO/SINGAPORE, June 13 (Reuters) – Toyota Motor (7203.T) has said it is moving toward production of solid-state batteries for the next generation of electric vehicles (EVs), bringing a technology that promises more energy storage and faster charging closer to market.

HOW ARE SOLID-STATE BATTERIES DIFFERENT?

Solid-state batteries use thin layers of solid electrolytes that carry lithium ions between electrodes.

Continue reading “Explainer: How could solid-state batteries improve next-gen EVs?”

LONDON, June 13 (Reuters) – Scottish and Southern Energy Networks (SSEN) Transmission will invest 10 billion pounds ($12.5 billion) in networks in Scotland which will enable the connection of up to 11 gigawatts of offshore wind projects, it said on Tuesday.

The company’s “Pathway to 2030 Programme” will include investment in several new onshore and sub-sea transmission links as part of a wider upgrade of the electricity transmission network across Britain to meet climate change and energy security targets.

Continue reading “UK’s SSEN to invest 10 billion pounds in electricity networks”

June 12 (Reuters) – Electric vehicle charging companies are cautiously embracing Tesla’s (TSLA.O) charging technology as the main U.S. standard, mere days after Ford (F.N) and GM (GM.N) said they were adopting it, but questions remained about how any interoperability would work.

The rare agreements between Tesla Inc and each of the two U.S. automakers, who among them control more than 60% of the country’s EV market, is likely to give top billing to Tesla’s North American Charging Standard (NACS). Tesla shares rose 2.2% on Monday.

Continue reading “Analysis: EV charger makers guardedly look to adopt Tesla standard”

LONDON, June 12 (Reuters) – Global miner Glencore (GLEN.L), Chrysler parent Stellantis (STLAM.MI) and Volkswagen’s (VOWG_p.DE) battery unit PowerCo have agreed to back a $1 billion deal by blank-cheque fund ACG Acquisition Company to buy two mines in Brazil, ACG said on Monday.

The deal comes as a mining M&A spree picks up, spurred in part by investors betting on rising demand for metals needed for the global green energy transition in coming years.

Continue reading “Glencore, automakers to back $1 bln nickel, copper SPAC deal in Brazil”

SHANGHAI, June 12 (Reuters) – Nio (9866.HK) said on Monday it would lower prices for all its models and end free battery swapping services to new buyers, as the Chinese electric vehicle maker faces mounting pressure over earnings losses and lukewarm sales.

Nio will cut prices by 30,000 yuan ($4,200) for all models including its revamped ES6 and ES8 sports utility vehicles from June 12, according to a company statement. That equates to discounts ranging from 6% to 9% on Nio cars.

Continue reading “China’s Nio cuts prices, ends free battery swapping as sales slide”

June 9 (Reuters) – Tesla (TSLA.O) shares closed 4% higher on Friday after General Motors (GM.N) joined Ford (F.N) in agreeing to use its electric-vehicle charging network, a big win that analysts said could make Tesla Superchargers an industry standard in the United States.

The rare partnership among three of the biggest U.S. automakers ensures that more than 60% of the country’s EV market can access Tesla’s North American Charging Standard (NACS), which should make it the primary network in the country.

Continue reading “Tesla jumps as GM deal makes its charging network closer to US standard”

June 9 (Reuters) – Lordstown Motors (RIDE.O) said on Friday it plans to take legal action against investor Foxconn (2317.TW) to ensure that the Taiwanese contract manufacturer completes a planned purchase of nearly 10% of the electric vehicle startup’s shares.

The company, and its EV peers have been struggling as access to capital tightens from rising interest rates and economic uncertainty.

Continue reading “EV maker Lordstown plans to sue Foxconn over funding dispute”

June 9 (Reuters) – The White House on Friday said electric-vehicle charging stations using Tesla (TSLA.O) standard plugs would be eligible for billions of dollars in federal subsidies as long as they included the U.S. charging standard connection, CCS, as well.

The statement follows separate announcements by U.S. automakers Ford Motor (F.N) and General Motors (GM.N) that they were adopting the Tesla model of charging, known as the North American Charging Standard (NACS). The moves shake up a charging industry that looked like it was drifting toward the rival CCS connection, with the help of federal subsidies.

Continue reading “White House welcomes Tesla to take advantage of federal dollars for chargers”

BEIJING/SHANGHAI, June 9 (Reuters) – China should standardise requirements for electric vehicle (EV) batteries in order to keep its edge over other markets such as the U.S. and Europe in the rapidly growing industry, the country’s former industry minister said on Friday.

“Europe and the United States are ramping up efforts to develop local battery makers, while protectionism has resurfaced,” Miao Wei told the World Power Battery Conference in China’s southwestern city of Yibin where he had an audience of policymakers and industry executives.

Continue reading “Ex-minister urges Beijing to lead in setting global EV battery standards”

New Delhi, June 2023; The automobile industry has been experiencing a significant shift towards Electric vehicles (EVs) as a more sustainable and eco-friendly mobility solution. Among the leading players in this emerging market are Tata Motors and MG Motor India, both offering impressive electric SUVs.

Continue reading “MG ZS EV Dominates in Resale Value in Droom Study, Outshining Nexon EV, Creta, Kona, and Seltos”

BEIJING, June 9 (Reuters) – BYD announced on Friday a new brand of electric vehicles (EV) ranging from off-road to sports cars as the company looks to meet more diversified consumer demand.

The new brand is called Fang Cheng Bao, which translates from Chinese literally as “Formula” and “Leopard”. The Chinese EV giant is expected to launch the first model this year – an SUV identified for now internally as SF, BYD said in a statement.

Continue reading “China’s BYD announces new Fang Cheng Bao brand of energy vehicles”

MADRID, June 8 (Reuters) – U.S. electric car manufacturer Tesla (TSLA.O) is in talks with the leaders of the regional government of Valencia in Spain to make an automotive investment, a source close to the discussions has told Reuters.

A spokesperson for Valencia’s regional government told Reuters it had held meetings and conversations with an unidentified company about a “large automotive investment”, but declined to give more details, citing the confidentiality of the negotiations.

Continue reading “Tesla considering building automotive investment in Spain – source”

BEIJING/SHANGHAI, June 8 (Reuters) – China on Thursday announced a nationwide campaign to promote automobile purchases in a major push to shore up demand in the world’s largest auto market.

The announcement from the Ministry of Commerce came shortly after data showed passenger vehicle sales in China rose 7.3% in May from April, higher on the month but far from the robust recovery policymakers are hoping for.

Continue reading “China launches nationwide car purchase campaign as May sales tick up”

June 8 (Reuters) – The California Department of Motor Vehicles on Thursday approved Mercedes-Benz’s (MBGn.DE) automated driving system on designated highways under certain conditions without the active control of a driver.

California is one of Tesla’s (TSLA.O) largest markets, accounting for 16% of the carmaker’s global deliveries last year, according to Reuters calculations.

Continue reading “Mercedes-Benz beats Tesla for California’s approval of automated driving tech”

Gurugram, June 8, 2023: MG Motor India, a British automobile brand with a 99-year-old legacy, today announced a significant milestone in its journey towards sustainable and futuristic mobility. BluSmart, India’s largest EV ride-hailing service and EV charging superhub infrastructure operator, has placed an order for 500 units of MG ZS EV – India’s first pure-electric internet SUV.

Continue reading “MG Motor India and BluSmart collaborate to Electrify Mobility with 500 ZS EV SUVs”

LONDON, June 8 (Reuters) – Britain could lose out on investments in autonomous vehicles (AVs) and see startups shift testing elsewhere if promised laws to regulate the technology are not passed before the next general election, startups and insurance companies said.

Despite the government’s vision to be a world leader in AV technology, truly driverless cars are not currently permitted on Britain’s roads, making it difficult for start-ups to commercialise their vehicles and insurers to assess their risks.

Continue reading “UK self-driving car dreams could break down at the starting line”

LONDON, June 8 (Reuters) – U.S. ride-hailing giant Uber (UBER.N) said on Thursday that customers will soon be able to track emissions avoided when choosing greener rides and have the option of shared rides in more cities to further reduce CO2 emissions.

The company said customers will be able to track the amount of CO2 avoided via its Uber Green service that uses low- or zero-emission vehicles and its Comfort Electric service using electric vehicles (EVs).

Continue reading “Uber says green rides will enable customers to track CO2 savings”

SHANGHAI, June 8 (Reuters) – U.S. luxury electric vehicle (EV) maker Lucid Group (LCID.O) is preparing to enter the world’s largest auto market, its head of China operations Zhu Jiang said on Thursday.

Lucid will sell imported cars in China while also considering local production in the country, according to a person familiar with the matter who was not authorised to speak with media.

Continue reading “US luxury EV maker Lucid set to enter China market”

AMSTERDAM, June 7 (Reuters) – Dutch energy company Eneco said on Wednesday it would build a 50 megawatt (MW) battery energy storage project in Belgium using Tesla battery packs, its largest such project to date.

The project in Ville-sur-Haine will consist of 53 “Megapack” battery units from Tesla, able to deliver power for 4 hours or 200 megawatt-hours in all.

Continue reading “Eneco to build 50 MW battery storage plant in Belgium using Tesla batteries”

JAKARTA, June 7 (Reuters) – Japanese truck maker Isuzu Motors (7202.T) plans to relocate a factory from Thailand to Indonesia and could start production as early as next year, Indonesia’s industry minister said on Wednesday.

Minister Agus Gumiwang Kartasasmita met with Isuzu’s executives in Tokyo on Tuesday, the ministry said in a statement.

Continue reading “Japan’s Isuzu to relocate factory from Thailand to Indonesia, Indonesia industry minister says”

SAN FRANCISCO, June 6 (Reuters) – Ford Motor Co’s (F.N) decision to allow customers to use Tesla’s TSLA.O electric-vehicle charging network has sent ripples through the industry, raising questions about a national U.S. charging standard as well as the fate of charging startups that are struggling.

The deal, announced last month, would open more than 12,000 Tesla Superchargers to drivers of Ford vehicles in North America starting in 2024.

Continue reading “Analysis: Ford’s EV charging tie-up with Tesla ripples through industry”

SHANGHAI/BEIJING, June 7 (Reuters) – A veritable parade of overseas CEOs including Tesla’s (TSLA.O) Elon Musk and Goldman Sachs’ (GS.N) David Solomon have made their way to a reopened China in the last few months.

One notable common strand: they’ve not talked much in public about their trips which have mostly consisted of meetings with government officials, local staff and business partners. Media events and other public engagements, once frequent before the pandemic, are now rare.

Continue reading “For Musk and other foreign CEOs visiting China, silence is golden”

SAN FRANCISCO/WASHINGTON, June 6 (Reuters) – Tesla Inc’s (TSLA.O) rapid adjustment of its battery supply chain means all of its Model 3 vehicles qualify for federal U.S. credits that, along with other tax breaks, could lower its price to less than a Toyota (7203.T) Camry.

The Biden administration on Tuesday confirmed that all Tesla Model 3 vehicles now qualify for $7,500 electric vehicle consumer tax credits after two of the three versions were eligible for half the credits.

Continue reading “Tesla’s Model 3 cheaper than Toyota’s Camry in California with tax benefits”

WASHINGTON, June 6 (Reuters) – A group of 19 Republican state attorneys general, oil industry, farming and truck driver groups said Tuesday they had filed legal challenges to the Biden administration decision approving California’s plans to require a rising number of zero-emission heavy-duty trucks as the state pushes to cut pollution.

The Environmental Protection Agency (EPA) in March approved a pair of waivers under the Clean Air Act sought by California to set heavy-duty vehicle and engine emission standards.

Continue reading “Republican state AGs, industry groups challenge US approval of California truck rules”

NEW YORK, June 6 (Reuters) – New York City on Tuesday sued Hyundai Motor Co (005380.KS) and Kia Corp (000270.KS), accusing the South Korean automakers of negligence and creating a public nuisance by selling vehicles that are too easy to steal.

The most populous U.S. city joined several other major cities that have sued Hyundai and Kia over the thefts, including Baltimore, Cleveland, Milwaukee, San Diego and Seattle.

Continue reading “New York City sues Hyundai, Kia over vehicle thefts”

SHANGHAI, June 6 (Reuters) – Some Chinese suppliers to state-owned Chongqing Changan Automobile have written to the automaker after it cut their payments by 10%, saying they were unfairly being forced to pay for the industry’s bruising price war.

The suppliers said Changan (000625.SZ), which also has partnerships with Ford Motor Co (F.N) and Mazda Motor (7261.T), told them in March that a recent wave of price cuts by its rivals had hit sales of some of its models in the world’s largest auto market.

Continue reading “China’s Changan suppliers push back against forced payment cuts”

June 6 (Reuters) – Ford Motor Co (F.N) is recalling more than 125,000 sport utility vehicles and trucks in the United States due to the risk of an engine compartment fire, the National Highway Traffic Safety Administration (NHTSA) website showed on Tuesday.

The recall, which expands on a similar recall from a year earlier, covers some Escape and Lincoln Corsair SUVs and its Maverick compact pickup trucks manufactured between 2020 and 2023 equipped with 2.5L Hybrid/Plug-In Hybrid motors.

Continue reading “Ford recalls over 125,000 SUVs, trucks over fire risk – NHTSA”

WASHINGTON, June 5 (Reuters) – The deal to end the United States’ debt limit standoff was classic Joe Biden politics: eke out a narrow compromise from an ugly beginning and declare victory.

Biden’s pact with Republican Kevin McCarthy suspends the $31.4 trillion U.S. debt ceiling, avoiding an economic crisis, in exchange for setting spending caps in the coming two fiscal years.

Continue reading “Can Biden’s compromise strategy fix a divided US?”