TOKYO, May 30 (Reuters) – Daimler Truck Holding AG (DTGGe.DE) and Toyota Motor Corp (7203.T) have struck a preliminary deal to combine their truck units in Japan, the companies said on Tuesday.

Under the memorandum of understanding (MOU), the businesses of Daimler-owned Mitsubishi Fuso Truck and Bus Corp and Toyota subsidiary Hino Motors Ltd (7205.T) would be combined under a holding company, they said in a statement.

Continue reading “Toyota, Daimler strike deal to combine Japanese truck operations”

TOKYO, May 30 (Reuters) – Toyota Motor Corp’s (7203.T) global sales rose by nearly 5% in April from a year earlier, boosted by stronger demand for hybrids and gasoline-powered cars in Japan and China.

The Japanese automaker also reported better overseas sales of battery electric vehicles (EVs), bringing the total number of battery-powered units it sold in the first four months of the year above last year’s level.

Continue reading “Toyota’s April global sales rise on stronger demand in Japan, China”

TOKYO, May 30 (Reuters) – Mitsubishi Motors Corp (7211.T) will extend a suspension of its production in China beyond May, the Yomiuri newspaper reported on Tuesday, highlighting struggles the Japanese car maker faces in the world’s largest auto market.

Mitsubishi Motors is discussing when to resume production in China with its local partner, a company spokesperson said, adding that there was nothing he could say about the timing.

Continue reading “Mitsubishi Motors to extend suspension of production in China -Yomiuri”

OTTAWA, May 29 (Reuters) – Canada’s federal government and the Quebec province will each provide about C$150 million ($112 million) for a General Motors-POSCO Chemical (GM.N)(005490.KS) battery materials facility that is expected create about 200 jobs in the country, the Canadian industry ministry said on Monday.

The U.S. carmaker and South Korea’s POSCO outlined their plan last year to build the facility in Becancour, Quebec, to produce cathode active material (CAM) for electric vehicle (EV) batteries.

Continue reading “Canada, Quebec to provide about C$300 mln for GM-POSCO battery materials facility”

• Bolder stance with Sporty aesthetics; launched at an attractive price of Rs 40.29/- lakh
• Level-1 ADAS with BorgWarner transfer case equipped 4WD

Gurugram, May 29, 2023: MG Motor India, a British automobile brand with a 99-year-old legacy, introduced the Advanced BLACKSTORM edition of the MG Gloster – India’s First Autonomous Level-1 Premium SUV today. This exclusive special edition comes in an elegant and deep Black hue, adding a clear touch of distinction to the vehicle. The Advanced Gloster BLACKSTORM will be available nationwide at an ex-showroom (Delhi) price of Rs 40,29,800/-.

Continue reading “MG Motor India introduces the Advanced Gloster BLACKSTORM”

DETROIT, May 29 (Reuters) – Nvidia Corp (NVDA.O) and MediaTek Inc (2454.TW) on Monday said they will collaborate on technology to power advanced vehicle infotainment systems that can stream video or games or interact with drivers using artificial intelligence.

Under the agreement, announced at the Computex technology trade show in Taipei, MediaTek will integrate an Nvidia graphic processing unit chiplet and Nvidia software into the system-on-chips it supplies to automakers for infotainment displays.

Continue reading “Nvidia, MediaTek partner on connected car technology”

TOKYO, May 28 (Reuters) – Proxy adviser Institutional Shareholder Services (ISS) has recommended that shareholders of Toyota Motor Corp (7203.T) vote in favour of a resolution urging the automaker to improve disclosure of its lobbying related to climate change.

ISS in a report also regarded three of Toyota’s four outside director nominees as not independent. Toyota said all candidates met the Tokyo Stock Exchange’s independence criteria.

Continue reading “ISS backs Toyota shareholder proposal on climate disclosure”

May 26 (Reuters) – Ford Motor Co (F.N) shares jumped by more than 7% on Friday after the No. 2 U.S. automaker announced a deal allowing its electric-vehicle owners to access rival Tesla Inc’s (TSLA.O) charging stations in North America.

Tesla’s Superchargers could become the standard for EV charging in the United States, Ford CEO Jim Farley told CNBC, but added: “With adapters and software, we really don’t have to make a choice right now what the standard is, but I think it’s going to play out in the free market.”

Continue reading “Ford, Tesla shares jump over 7% on Superchargers deal”

PTI – The company has registered at the portal of government e-marketplace (GeM), which was launched in 2016 by the commerce ministry for buying goods and services by central ministries and departments with a view to bringing transparency in government procurement.

Continue reading “Uber partners with GeM portal to offer taxi services to govt offices, agencies, PSUs at fixed price”

PTI – Starting in 1965 as an answer to cut reliance on foreign companies for doing engineering and other work for the massive projects that a newly independent nation undertook, EIL is building the country’s first biorefinery, which will use bamboo to produce ethanol, and moving into green hydrogen and sustainable aviation fuel.

Continue reading “Engineers India eyes non-fossil fuel business, overseas for new phase of growth”

PTI – Delhi transport department and Delhi Electric Vehicle cell on Wednesday kicked off the process of drafting a revised ‘Delhi EV Policy 2.0’ with a stakeholder consultation.

PTI – The company, which is planning to enter new cities like Mumbai, Pune and Hyderabad is targeting a revenue of INR 500 crore this year, up from INR 125 crore last year.

PTI – Bridgestone India, which is a subsidiary of Japanese multinational tyre manufacturer Bridgestone Corporation, has a well-diversified portfolio, mainly of radial tyres which cater to OEM as well as replacement segments.

PTI  – Hydrogen is a clean burning fuel and shows promise for use in the most energy intensive sectors of the economy-transportation, electricity generation and manufacturing, the researchers said.

PTI – An agricultural field near Kachhipura village was found covered in crude oil leaked from a pipeline belonging to ONGC on Sunday, said Bharuch-based GPCB regional officer Margi Patel.

May 25 (Reuters) – Ford Motor Co (F.N) said on Thursday it has agreed with Tesla Inc (TSLA.O) to allow its electric vehicle owners to gain access to more than 12,000 Tesla Superchargers in North America in early 2024.

The tie-up between the rivals makes Ford the first major automaker to embrace Tesla’s proprietary charging standard, giving the automaker access to the biggest network of high-speed Superchargers in the United States.

Continue reading “Ford strikes deal with Tesla to gain access to rival charging stations starting 2024”

DETROIT, May 25 (Reuters) – U.S. trade policy with China and other nations must strike a more equitable balance between needs of workers and corporate profits, leaders of two big U.S. unions said at the Asia Pacific Economic Cooperation trade ministers meeting on Thursday.

“We’re not anti-trade,” United Auto Workers union President Shawn Fain said during a panel discussion led by U.S. Trade Representative Katherine Tai. “We’re anti-trade (when) it’s a one-sided affair.”

Continue reading “At APEC trade meeting, union leaders call for new ‘balance’ with China”

WASHINGTON, May 25 (Reuters) – A group of 27 Senate Republicans on Thursday called on the Biden administration to drop its plan to drastically cut vehicle emissions through 2032 and ramp up electric vehicle sales.

In a letter led by Senator Shelley Moore Capito, lawmakers said the administration plan will “effectively mandate a costly transition to electric cars and trucks in the absence of congressional direction.” The Environmental Protection Agency proposal issued in April estimates sharp emissions cuts would result in 67% of new light duty vehicle sales as electric by 2032.

Continue reading “Senate Republicans want EPA to drop plan to cut emissions, boost EVs”

May 25 (Reuters) – Volkswagen (VOWG_p.DE) and its Audi unit have agreed to an $85 million settlement in principle over violations of Texas environmental laws stemming from its diesel cheating scandal, Texas Attorney General Ken Paxton said on Thursday.

The settlement stipulates that the German automakers pay a civil penalty of $85 million for their unlawful actions, Paxton said.

Continue reading “VW, Audi agree to $85 million diesel settlement in principle with Texas”

May 25 (Reuters) – Ford Motor Co (F.N) CEO Jim Farley said on Thursday Chinese electric vehicle makers are its main rivals in the sector, but the company has hurdles competing on cost at a smaller scale.

“I think we see the Chinese as the main competitor, not GM (GM.N) or Toyota (7203.T),” Farley said at the Morgan Stanley Sustainable Finance Summit. “The Chinese are going to be the powerhouse.”

Continue reading “Ford CEO says China main EV rival, not GM, Toyota”

PTI – The company, which sold around 50,000 units of electric passenger vehicles last year, is targeting to reach 1 lakh units this fiscal while it also targets deeper penetration of CNG with the launch of its Altroz iCNG premium hatchback. “So far the indicators are good in terms of demand sustaining at high levels, although the additional moves that we were getting from pent-up demand and low channel inventory that have subdued,” Chandra told PTI.

Continue reading “Domestic passenger vehicles sales expected to stay strong this fiscal, says Tata Motors’ Shailesh Chandra”

BERLIN, May 25 (Reuters) – German authorities have serious indications of possible data protection violations by Tesla (TSLA.O), Handelsblatt newspaper reported on Thursday, citing the data protection office in the state where the carmaker has its European gigafactory.

Handelsblatt’s report said the U.S. electric car manufacturer has failed to adequately protect data from customers, employees and business partners, citing 100 gigabytes of confidential data leaked to the newspaper by a whistleblower.

Continue reading “German authorities looking into possible data protection violations by Tesla -newspaper”

DETROIT/BICESTER, England, May 25 (Reuters) – British electric van startup Arrival , which has hit many road bumps in its quest to become the next Tesla Inc (TSLA.O), now hopes huge subsidies from the U.S. Inflation Reduction Act and a second reverse merger will give it a fresh shot at survival.

Continue reading “British EV maker Arrival seeks second chance with US EV tax credits”

SHANGHAI/BEIJING, May 25 (Reuters) – Great Wall Motor (601633.SS) has filed a report with China’s regulators against BYD (002594.SZ), , it said on Thursday, claiming its rival’s two top-selling hybrid models did not meet emissions standards and triggering a rare public spat.

BYD rejected the claim, saying its vehicles met China’s emission standards and that it reserved the right to take legal action against Great Wall.

Continue reading “Great Wall Motor says rival BYD failing on hybrid emissions”

HANOI, May 25 (Reuters) – Vietnamese electric vehicle (EV) maker VinFast said it is recalling all of the first batch of vehicles it shipped to the United States last year following a safety warning issued by U.S. authorities.

The move came after the U.S. National Highway Traffic Safety Administration (NHTSA) said 999 of VinFast’s VF 8 vehicles suffered a software error in the dashboard display that prevented critical safety information from being shown and “may increase the risk of a crash”.

Continue reading “Vietnam’s VinFast recalls first batch of US-bound EVs over safety risk”

MILAN, May 25 (Reuters) – The Italian government, which is assessing tyre maker Pirelli’s (PIRC.MI) new shareholder agreement, is concerned about plans to allow top shareholder China’s Sinochem to appoint more board members and potentially choose future CEOs, two sources said.

Italy’s right-wing government has to approve the scheme under “Golden Power” rules aimed at protecting assets deemed strategic for the country, at a time when relations between China and Western countries have entered a tenser phase.

Continue reading “Italy probing China’s possible growing influence on Pirelli -sources”

MUMBAI, May 25 (Reuters) – India’s Ola Electric is planning a stock market listing by the end of 2023, and has appointed investment bank Goldman Sachs and domestic bank Kotak to manage the share sale, a source with direct knowledge of the matter told Reuters.

Ola Electric, which makes electric scooters, is backed by investors such as SoftBank Group Corp (9984.T) and Tiger Global Management, and was valued at $5 billion in its last fundraise in 2022.

Continue reading “India’s Ola Electric aims for IPO by 2023-end, hires Goldman, Kotak – source”

WASHINGTON, May 24 (Reuters) – Chrysler-parent Stellantis (STLAM.MI) said on Wednesday it may limit shipments of gasoline-powered vehicles to dealers in states that have adopted California’s strict emissions rules.

In a communication to dealers seen by Reuters, the Italian-American automaker said to meet the California emissions rules “we may be compelled to allocate fewer conventional gasoline engine vehicles to California states” and more to other states that have not adopted the rules.

Continue reading “Stellantis may ship fewer gas-powered vehicles to US states with strict emissions rules”

PTI – Uber said it has teamed up with Zypp Electric for 10,000 EV two-wheelers in Delhi by 2024. The company also announced a partnership with SIDBI to unlock INR 1,000 crore in EV financing. Uber said it is also bringing its global partnership with BP to India through Jio-bp and has also tied up with GMR Green Energy for fast charging Uber EVs.

Continue reading “Uber partners with various EV partners to accelerate transition towards sustainable mobility”

May 23 (Reuters) – California has asked the Biden administration to approve its plan to require all new vehicles sold in the state by 2035 to be either electric or plug-in electric hybrids, a landmark move that could speed the end of gasoline-powered vehicles, according to a letter seen by Reuters.

The California Air Resources Board (CARB), which approved the plan in August, asked the Environmental Protection Agency (EPA) on Monday to approve a waiver under the Clean Air Act to implement its new rules that set yearly rising zero emission vehicle rules starting in 2026 and would end the sales of vehicles only powered by gasoline by 2035.

Continue reading “Exclusive: California seeks EPA approval to ban sales of new gasoline-only vehicles by 2035”

May 23 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk said on Tuesday the automaker would probably pick a location for a new factory by the end of this year.

When the Wall Street Journal’s Thorold Barker asked Musk at an event if India was interesting, he said, “Absolutely”.

Continue reading “Tesla to pick location for new factory this year, Musk says”

May 23 (Reuters) – Tesla (TSLA.O) is listing China-made Model 3 and Model Y models for sale in Canada, the company’s website showed on Tuesday, confirming the electric car maker has completed its first shipments to North America from its Shanghai factory.

Tesla’s website showed both rear-wheel drive Model Y vehicles and the long-range, all-wheel drive version of the Model 3 available for immediate delivery in British Columbia, with codes showing they were manufactured at Tesla’s Gigafactory Shanghai.

Continue reading “Tesla offers China-made electric vehicles for sale in Canada”

May 23 (Reuters) – Lordstown Motors Corp (RIDE.O) on Tuesday announced a reverse stock split to meet Nasdaq listing norms and appease investor Foxconn (2317.TW), which has threatened to scrap a crucial $170 million funding for the struggling electric-vehicle maker.

The 1:15 split has been scheduled for May 24, the company said, but added there was no assurance that the Foxconn deal will close.

Continue reading “Lordstown opts for reverse stock split to meet Nasdaq rules, placate Foxconn”

May 23 (Reuters) – Auto parts retailer AutoZone Inc (AZO.N) missed expectations for third-quarter net sales on Tuesday, as increased prices of automobile parts led to a rise in inventories, sending its shares 3.2% lower before the bell.

“Weaker-than-expected sales for the month of March meaningfully affected our results this quarter,” CEO Bill Rhodes said.

Continue reading “Auto parts retailer AutoZone misses Q3 sales estimates on inventory pile-up”

PARIS, May 23 (Reuters) – Lynk & Co, a carmaker jointly owned by China’s Geely (0715.HK) and Volvo Car (VOLCARb.ST), plans to open its first showroom in France by early 2024 and to expand in Europe, including Britain, its CEO and founder told Reuters.

The automaker, which both sells and rents cars on monthly subscriptions, already has what it calls clubs, which look like bars or lifestyle shops, in Belgium, the Netherlands, Germany, Sweden, Spain and Italy.

Continue reading “Geely premium automaker Lynk looks to further European growth”

BRUSSELS, May 23 (Reuters) – Europe risks being left behind on green energy innovation and investment if various pieces of legislation are not aligned and simplified, the CEOs of Volvo Group and Vattenfall said.

Sweden’s state-owned Vattenfall is a major producer of solar, wind and hydropower as well as nuclear and on Tuesday it agreed a 10-year wind power supply deal with Volvo.

Continue reading “EU risks losing energy transition race, Volvo and Vattenfall warn”

PTI – The Heavy Industries Ministry has notified changes for reducing subsidy provided under FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) scheme applicable on electric two-wheelers registered on or after June 1, 2023. Subsequently, for electric two- wheelers, the demand incentive will be INR 10,000 per kWh. The cap on incentives for electric two-wheelers will be 15 per cent of the ex-factory price of vehicles from 40 per cent at present.

Continue reading “Sudden reduction of subsidy of electric two-wheelers may lead to major decline in EV adoption: SMEV”