WASHINGTON, May 22 (Reuters) – U.S. labor officials on Monday said they have asked Mexico to investigate alleged worker rights abuses at a Goodyear Tire & Rubber Co (GT.O) plant in Mexico in the latest “rapid response” probe under North American trade rules.

The complaint from the U.S. Trade Representative’s office (USTR) comes after independent Mexican union La Liga petitioned the U.S. government to open a case, arguing Goodyear employees in the central state of San Luis Potosi were offered fewer benefits than available to other workers in the rubber sector in Mexico.

Continue reading “US seeks labor rights probe at Goodyear Tire in Mexico”

PTI – The jump in fourth-quarter net profit helped the company post INR 1,870.10 crore of net profit for the full fiscal year 2022-23 (April 2022 to March 2023) by negating the losses the firm had to suffer in the first half of the financial year from holding petrol, diesel and LPG prices despite a surge in cost.

Continue reading “BPCL profit more than doubles in Q4 on higher refining, marketing margins”

PTI – The Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) India scheme commenced on April 1, 2019, for a period of three years, which was further extended for a period of two years up to March 31, 2024. The total outlay for FAME Scheme Phase II is INR 10,000 crore to provide incentives to buyers (end users or consumers) of electric vehicles to enable wider adoption, which may be encouraged as a purchase price.

Continue reading “Govt cuts FAME-II subsidy on electric 2-wheelers from June”

May 22 (Reuters) – Ford Motor Co (F.N) on Monday unveiled new supply deals for battery-grade lithium as the U.S. automaker aimed to meet its target of producing 2 million electric vehicles by 2026, closing the gap on market leader Tesla Inc (TSLA.O).

Ford is holding an investor event Monday explaining how it plans to make money and ramp up production of its next-generation electric vehicles as it works to address a current significant cost disadvantage against competitors.

Continue reading “Ford to charge up EV drive with flurry of battery deals”

BRUSSELS, May 22 (Reuters) – France, Italy and the Czech Republic are among eight countries pushing to weaken new EU emissions limits for cars, saying they are overly ambitious and unrealistic for automakers to hit.

European Union countries and lawmakers are preparing to negotiate the Euro 7 regulation, which from 2025 would tighten vehicle emission limits for pollutants including nitrogen oxides and carbon monoxide.

Continue reading “EU car emission limits face pushback from eight members -document”

BEIJING, May 22 (Reuters) – China’s Wuling Motors has lowered starting prices for its Mini EV electric vehicles to as low as 29,800 yuan ($4,300), the company said on Monday.

Some new energy vehicle models saw price cuts of as much as 13,000 yuan, it added in a statement.

Continue reading “China’s Wuling Motors cuts Mini EV starting prices to as low as 29,800 yuan”

May 22 (Reuters) – Ford Motor Co (F.N) on Monday unveiled three deals for the supply of lithium products, including lithium hydroxide, as the automaker ramps up electric vehicle (EV) production to 2 million units by the end of 2026.

Shares of the company, which is holding a “Capital markets” event later in the day, edged up about 1% before the bell.

Continue reading “Ford signs battery material supply deals to charge up EV output”

MELBOURNE, May 22 (Reuters) – Australia has won the backing of the United States for development of its critical minerals industry after the two countries reached an agreement to coordinate polices and investment to support the industry’s growth.

Australia supplies around half of the world’s lithium as well as other minerals like rare earths used in batteries for electric cars and defence amid a global push to diversify supply chains away from dominant producer China.

Continue reading “Australia wins U.S. support for critical minerals industry”

OSLO, May 22 (Reuters) – Volvo Group (VOLVb.ST) said on Monday its unit Volvo Trucks plans to sell 1,000 electric trucks to Swiss building solutions provider Holcim (HOLN.S) for delivery over the next seven years, the biggest order ever for Volvo electric trucks.

“The deal is the largest commercial order to date for Volvo electric trucks,” said AB Volvo, which also sells trucks under other brands such as Mack, Renault and UD Trucks.

Continue reading “Volvo wins record order for electric trucks from Holcim”

TORONTO, May 19 (Reuters) – The Ontario government on Friday offered to increase financial support for carmaker Stellantis’s (STLAM.MI) battery plant in the province, a move Canada’s industry minister proclaimed a sign of progress in ending a stalemate over the stalled project.

Stellantis on Monday stopped construction at a C$5 billion ($3.7 billion) electric-vehicle battery plant in Canada, which is being built in partnership with South Korea’s LG Energy Solution (LGES) (373220.KS), saying Canada had not fulfilled promises.

Continue reading “Ontario to offer more money for Stellantis to resume battery plant”

New Delhi, May 19, 2023: Committed to providing best-in-class connected car technology to its users, MG Motor India today announced industry-first a broad range of connected car features in partnership with Jio Platforms, India’s leading digital services provider. As part of this arrangement, MG Motor India will offer seamless integration of Hinglish Voice Recognition-enabled experiences powered by Jio’s Digital Assets in its newly launched Comet EV— The Smart Electric Vehicle.

The partnership makes possible an array of innovative new-age smart mobility solutions which underscore the carmaker’s enduring commitment to building a futuristic urban mobility ecosystem and at the same time facilitating great experiences.

Continue reading “MG Motor India and Jio Platforms partnership to redefine “In-Car Experiences””

WASHINGTON, May 18 (Reuters) – Ford Motor Co (F.N) is recalling 422,000 sport utility vehicles in the United States because the video output may fail even after getting a prior recall repair, preventing the rear view camera image from displaying.

The new recall covers 2020 through 2023 Ford Explorer, Lincoln Aviator, and 2020-2022 Lincoln Corsair SUVs with a 360-degree camera.

Continue reading “Ford recalls 422,000 SUVs because rear view camera display may fail”

TOKYO, May 18 (Reuters) – Japan’s Panasonic Holdings Corp (6752.T) aims to ramp up production of battery cells used in electric vehicles by building at least two new factories in North America, it said on Thursday.

The company, whose energy unit makes batteries for Tesla Inc (TSLA.O), seeks to boost its auto battery capacity to 200 gigawatt hours per year by March 2031, about four times its level at the end of March, it said in a presentation on its website.

Continue reading “Panasonic plans multiple new battery factories in North America by 2030”

WASHINGTON, May 18 (Reuters) – Hyundai Motor (005380.KS) and Kia Corp (000270.KS) agreed to a consumer class-action lawsuit settlement worth $200 million over rampant car thefts of the Korean automakers’ vehicles, lawyers for the owners and the automakers said on Thursday.

In February, the Korean automakers said they would offer software upgrades to 8.3 million U.S. vehicles without anti-theft immobilizers to help curb increasing car thefts using a method popularized on TikTok and other social media channels.

Continue reading “Hyundai, Kia agree to $200 million settlement over US car thefts”

PTI – The Delhi High Court has sought response of the NHAI and the Centre on a plea seeking to direct banks to pay interest to the authorities on the money collected by them with the issue of FASTag and minimum balance requirement on the card. A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad issued notices to the National Highways Authority of India (NHAI) and the Ministry of Road Transport and Highways (MoRT&H).

Continue reading “High Court seeks Centre’s response on plea asking banks to pay interest on FASTag collected money”

PTI – The fall in profit was because gas volumes dropped due to high prices and a snag in supplies from Russia. “High prices and non-availability of lower price long-term LNG affect every segment of business,” GAIL chairman and managing director Sandeep Kumar Gupta told reporters here.

PTI – “We feel this sharp reduction in the subsidy is going to hurt the market and the adoption of E2Ws (electric two-wheelers) may go down substantially,” Society Of Manufacturers Of Electric Vehicles (SMEV) Director General Sohinder Gill said in a statement.

May 18 (Reuters) – Aston Martin’s (AML.L) stock popped nearly 22% on Thursday, after the luxury carmaker announced a 234 million pound investment by China’s Geely (0715.HK), that will see the automotive firm become its third-largest shareholder.

Geely will acquire about 42 million ordinary shares from Chairman Lawrence Stroll’s Yew Tree, which is currently the Aston Martin’s largest stakeholder, at 335 pence apiece and subscribe for another 28 million shares at the same price.

Continue reading “Aston Martin stock soars after $295 million Geely investment”

NEW DELHI, May 18 (Reuters) – Tesla Inc (TSLA.O) has held discussions with officials about incentives being offered by India for car and battery manufacturing, said a person with direct knowledge of the talks, as the automaker looks anew at entering the Indian market.

The U.S. electric car maker has proposed setting up a factory in India to build electric vehicles, Reuters reported on Wednesday. Plans to locally manufacture EV batteries are also being discussed, said the person with direct knowledge.

Continue reading “Tesla held talks with India on auto incentives, battery making – source”

LONDON, May 17 (Reuters) – Ford (F.N) on Wednesday called for post-Brexit EU trade requirements on rules of origin for electric vehicles (EVs) to delayed until 2027 from 2024, saying tariffs will add pointless costs for consumers and slow the transition to electric.

“Ford is calling for current trade requirements to be extended to 2027, to allow time for the battery supply chain to develop in Europe and to meet EV demand,” the U.S. carmaker said in a statement.

Continue reading “Ford calls for extension of post-Brexit trade rules to 2027”

MUNICH, May 17 (Reuters) – Volkswagen (VOWG_p.DE) Chief Financial Officer Arno Antlitz said on Wednesday rising battery material costs mean it will be 2025 before the automaker can build some electric vehicles at the same profit margins as combustion models.

“A lot of the margin parity depends on raw materials,” Antlitz told the Reuters Automotive Europe conference.

Continue reading “Volkswagen aims for ‘margin parity’ on some EVs by 2025”

BERLIN, May 17 (Reuters) – European new car registrations increased in April, data from the region’s carmaker association showed on Wednesday.

The number of new vehicles registered that month in the European Union, Britain and the European Free Trade Association (EFTA) grew by 16.1% to 964,932 units, the European Automobile Manufacturers Association (ACEA) said.

Continue reading “European car sales rise in April, ACEA says”

BERLIN, May 17 (Reuters) – German carmaker Volkswagen (VOWG_p.DE) plans to overhaul its core brand to increase efficiency and returns, according to an internal memo from VW brand chief Thomas Schaefer seen by Reuters on Wednesday.

“We can see that our brand – despite all its strengths – is not yet on a sufficiently solid economic footing,” Schaefer wrote in the memo.

Continue reading “Volkswagen plans core brand revamp to boost returns -internal memo”

CHICAGO, May 17 (Reuters) – The U.S. supply chain is healing from early pandemic shocks that sent shipping costs skyrocketing and squeezed supplies of everything from toilet paper to pasta, but more than three years later, material shortages and hiring woes linger.

Rates for trucking, ocean shipping and other transportation tumbled after U.S. consumers shifted spending from big-ticket items like furniture, BBQ grills and big-screen TVs to travel and other entertainment, offering a reprieve to beleaguered shippers.

Continue reading “US supply chain woes shift and persist in 2023”

PTI– “As the world’s third-largest auto market, India is a ripe target for EV firms. Sales of EVs more than doubled last year in the country. This was, however, off a low base. EV sales represented less than 2% of the total light-vehicle sales in the last 12 months,” the report said.

SHANGHAI/BEIJING, May 17 (Reuters) – BYD Co Ltd (002594.SZ), may be China’s biggest electric vehicle maker by a country mile but it knows it lags rivals in autonomous driving, and has set up a new division and embarked on a huge hiring spree to rectify that shortcoming.

Between 4,000 and 5,000 software engineers have been hired recently, BYD senior vice president Stella Li told an investor forum this month when quizzed why the automaker was behind in automation and intelligence technologies.

Continue reading “China’s BYD beefs up autonomous driving credentials with new unit, hiring spree”

MUNICH, May 17 (Reuters) – Hyundai Motor Co’s (005380.KS) European chief said the carmaker was not making a direct change to its pricing in response to Tesla’s (TSLA.O) price cuts, adding consumers needed reassurance that prices wouldn’t go up and down.

“We are not taking what I’d call a knee-jerk reaction to what the competition does… we know that Tesla’s pricing will alert some consumers to consider Tesla that hadn’t before, so of course you have to look at that,” Hyundai Motor Co Chief Executive for Europe Michael Cole said at the Reuters Automotive Conference in Munich.

Continue reading “Hyundai Europe CEO: we won’t take a “knee-jerk reaction” to Tesla”

LONDON, May 17 (Reuters) – Britain’s finance minister Jeremy Hunt on Wednesday said the country needs to have electric vehicle (EV) battery making capacity, speaking at a British Chambers of Commerce event.

“Watch this space because we are very focussed on making sure that the UK gets EV and manufacturing capacity,” he said.

Continue reading “UK’s Hunt say Britain needs EV battery making capacity: “Watch this space””

BEIJING, May 15 (Reuters) – Ford (F.N) said on Monday it was working to reduce costs in China as it strives to recover from a long sales slump in the world’s largest auto market.

“Our costs are not competitive, and we are working internally and with our partners to reduce costs in all areas,” a representative of Ford China told Reuters in a statement.

Continue reading “Ford says it will reduce costs to boost China business”

OTTAWA, May 15 (Reuters) – Automaker Stellantis (STLAM.MI) has stopped construction at a more-than C$5 billion ($3.7 billion) electric-vehicle battery plant in Canada amid talks with the federal government about its support for the factory.

“Effective immediately, all construction related to the battery module production on the Windsor site has stopped,” a spokesperson said, while adding that some construction related to battery cell production continues.

Continue reading “Stellantis blocks battery plant construction as more support sought”

LONDON, May 15 (Reuters) – Rising demand from automakers, industry and investors will push the global platinum market into its biggest deficit in years, three industry reports predicted on Monday.

The reports underline an emerging change in fortunes for platinum and its sister metal palladium, both used chiefly in vehicle exhausts to neutralise harmful engine emissions.

Continue reading “Platinum facing biggest deficit in years as carmakers snap up metal”

OAKLAND, California May 15 (Reuters) – Silicon Valley automotive ethernet chip startup Ethernovia Inc said on Monday it had raised $64 million in a Series A funding round including Porsche Automobil Holding SE (PSHG_p.DE), Qualcomm Ventures, VentureTech Alliance and others.

As automakers pivot to electric vehicles with more driver assistance functions, they are revamping the electronics to eliminate dozens of cables that crisscross the car linking up over 100 microchips. Instead, they are building a central computer to control everything from camera and radar sensors to the windows and the entertainment dashboard.

Continue reading “Silicon Valley automotive ethernet chip startup Ethernovia raises $64 mln”

PARIS, May 14 (Reuters) – France is poised to win record foreign investment pledges when President Emmanuel Macron receives global business leaders, including Tesla’s Elon Musk, on Monday at the annual “Choose France” summit in Versailles.

For the president, whose popularity has suffered from a widely unpopular proposal to raise the French retirement age, the summit is a chance to justify his pro-business reform drive and shift attention to his promotion of lower carbon industry, such as electric vehicles.

Continue reading “Macron courts Tesla’s Musk and others to ‘Choose France’”

May 15 (Reuters) – Americans in the waning days of the COVID pandemic are keeping their combustion-engine vehicles longer, according to a new study.

The average age of U.S. cars and light trucks this year climbed to a record 12.5 years, reflecting the impact of supply constraints on dealer inventories of new vehicles in 2022, as well as reduced consumer demand from higher inflation and interest rates, according to the study by S&P Global Mobility.

Continue reading “US consumers keep vehicles for a record 12.5 years on average -S&P”