TOKYO, May 15 (Reuters) – The weekend gathering of finance chiefs from the Group of Seven (G7) advanced economies did not single out China as a threat in their communique, but left signs the world’s second-largest economy will loom large at this week’s summit in Hiroshima.

Efforts to grapple with China’s growing global presence were evident at the three-day G7 finance chiefs’ gathering in Niigata, Japan, during which they held their first outreach in 14 years, aimed at winning over emerging nations.

Continue reading “China’s rising clout spotlighted at finance chief meetings before G7 summit”

PTI – The company has leadership in the budget bike segment (100-110cc) and is looking to enhance presence in the 125 cc and also drive in models to bring in volumes and enhance profitability in the 160-cc and above space.

WASHINGTON, May 12 (Reuters) – The National Highway Traffic Safety Administration (NHTSA) demanded the recall of 67 million air bag inflators because it believes there is a safety defect, but auto supplier ARC Automotive Inc rejected the U.S. regulator’s request, documents released on Friday show.

The auto safety agency said the inflators pose an unreasonable risk of death or injury.

Continue reading “U.S. demands recall of 67 million air bag inflators”

WASHINGTON, May 12 (Reuters) – General Motors (GM.N) said on Friday it will recall nearly 1 million sport utility vehicles in the United States because the driver’s air-bag inflator may explode during deployment.

The recall covers 994,763 Buick Enclave, Chevrolet Traverse, and GMC Acadia vehicles from the 2014 through 2017 model years with modules produced by ARC Automotive Inc. Dealers will replace the driver’s air-bag module.

Continue reading “GM recalling nearly 1 million U.S. vehicles for air bag defect”

BEIJING, May 12 (Reuters) – China’s market regulator said Tesla Inc (TSLA.O) will fix software in more than 1 million vehicles to reduce the chance of accidents, the regulator said on Friday.

The action is described as a product recall under Chinese regulations, the regulator said, but it was not immediately clear if drivers might need, or would be eligible, to return vehicles to Tesla for refunds.

Continue reading “China says Tesla to fix software for 1.1 mln cars on braking issue”

TOKYO, May 12 (Reuters) – Toyota Motor Corp (7203.T) said on Friday the vehicle data of 2.15 million users in Japan, or almost the entire customer base who signed up for its main cloud service platforms since 2012, had been publicly available for a decade due to human error.

The incident, which also affected customers of its luxury brand Lexus, comes as the world’s biggest automaker by sales makes a push into vehicle connectivity and cloud-based data management which are seen as crucial to offering autonomous driving and other artificial intelligence-backed features.

Continue reading “More than 2 million Toyota users face risk of vehicle data leak in Japan”

PTI – The plants will be commissioned at Kharkhoda, Sonipat in Haryana and SMG Suppliers’ Park in Gujarat, the company said in a statement. The new plant in Sonipat will provide capacity enhancement so as to meet the requirements of Maruti Suzuki’s new manufacturing plant at IMT Kharkhoda which is expected to be commissioned by FY2025, it added.

PTI – “We will continue to make investments aggressively to grow the industry and make people happy in India and continuously contribute to Atmanirbhar Bharat,” Suzuki Motor Corporation Executive VP Kenichi Ayukawa said. In a tweet shared by the Finance Ministry, Ayukawa said Maruti Suzuki India has announced an increase in annual production capacity by one million units last month.

PTI – State-owned Oil and Natural Gas Corporation (ONGC) has discovered crude oil and natural gas in two blocks in Mumbai offshore, the company said on Thursday without giving details of reserves found. The discoveries, which have been named ‘Amrit’ and ‘Moonga’, were made in the blocks that the company won in recent open acreage licensing rounds.

State-owned Oil and Natural Gas Corporation (ONGC) has discovered crude oil and natural gas in two blocks in Mumbai offshore, the company said on Thursday without giving details of reserves found.

Continue reading “ONGC discovers oil, gas in Arabian Sea blocks”

PTI – There are around 100 electric vehicle (EV) charging stations across the national capital at present and this would be the first time that some of them would have battery swapping facilities.

PTI – “Hyundai has been one of the largest manufacturers and consistent investors in Tamil Nadu. This strategic partnership is a testimony to Hyundai’s commitment to boost the socio- economic development in the state and make the country self-reliant,” Hyundai Motor India MD and CEO Unsoo Kim said in a statement.

PTI– “Report of the Energy Transition Advisory Committee (ETAC) has been received by the MoPNG. The Govt. of India is yet to accept ETAC report,” the Minstry of Petroleum and Natural Gas (MoPNG) said in a tweet.

WASHINGTON, May 10 (Reuters) – The largest U.S. oil and gas trade lobby group said on Wednesday it believes sharp emissions cuts proposed by the U.S. Environmental Protection Agency (EPA) would result in the elimination of new internal combustion vehicles.

But a California air regulator said the EPA plan “will benefit the climate, air quality, environmental justice, and economic development” and a top environmental group urged the agency to ramp up the pace of adopting electric vehicles to ensure the U.S. is on a path to 100% zero emission new vehicle sales by 2035.

Continue reading “US oil lobby blasts EPA emissions cuts plan, California likes it”

TOKYO, May 11 (Reuters) – Japan’s Honda Motor Co (7267.T) on Thursday forecast a 19.1% rise in operating profit for this business year, after it missed analysts’ estimates in the fourth quarter.

Japan’s second-biggest automaker forecast full-year operating profit rising to 1.0 trillion yen ($7.40 billion) compared with a 985.62 billion yen average profit expected by 21 analysts. It said it expected higher sales volume and to benefit from a strengthening supply chain.

Continue reading “Honda sees full-year profit rising 19% after missing forecasts in Q4”

TOKYO, May 11 (Reuters) – Japan’s Nissan Motor Co (7201.T) on Thursday said it expects operating profit to rise 38% this year on a stronger outlook for sales and production volumes.

The Yokohama-based automaker sees operating profit rising to 520 billion yen ($3.85 billion) in the financial year that just started, compared to a 396.21 billion yen average profit forecast in a poll of 19 analysts by Refinitiv.

Continue reading “Nissan sees 38% full-year profit rise on stronger sales outlook”

SAN FRANCISCO, May 10 (Reuters) – Rivian Automotive Inc (RIVN.O) is betting it can keep prices high for its debut lines of electric pickup trucks and sport-utility vehicles even when competition swells, its CEO said, a bold move that may be necessary if the startup wants to make a profit.

And one some see as risky, since Rivian products will soon face more rivals at a time when market leader Tesla Inc (TSLA.O) is slashing prices to spur demand in the face of souring consumer sentiment, and traditional automakers are tightening competition with lower-priced electric vehicle (EV) models.

Continue reading “EV maker Rivian takes bold bet with higher-priced vehicles amid heating competition”

SAN FRANCISCO/TOKYO, May 10 (Reuters) – Panasonic (6752.T) said on Wednesday that it will delay the commercial production of its 4680 battery cells championed by Tesla CEO Elon Musk and begin operations during the April to September period in 2024, later than previously scheduled, as the company aims to improve their performance.

Tesla’s Japanese supplier, Panasonic, previously planned to start volume production for Tesla between April 2023 to March 2024.

Continue reading “Panasonic delays production of new Tesla battery to improve performance”

DETROIT, May 10 (Reuters) – General Motors Co (GM.N) will consolidate North American sales operations for commercial vehicles, parts and telematics services under a new brand umbrella, GM Envolve, that will compete with Ford Motor Co’s (F.N) Ford Pro unit and others for revenue from business vehicle fleets.

GM executives said the reorganization is aimed at making it easier for commercial fleet customers to negotiate electric and combustion vehicle purchases and sign up for services and software offerings that GM is developing to generate revenue after the vehicle sale.

Continue reading “GM overhauls North American commercial vehicle sales operations”

DETROIT, May 10 (Reuters) – Ford Motor Co (F.N) on Wednesday unveiled the latest addition to its muscle truck franchise – a Ranger Raptor midsize pickup with a 405-horsepower engine and a suspension designed for racing across the desert, made possible in part by Ford’s electric vehicles.

The Ranger Raptor, and the rest of the new generation of Ford Ranger pickups, will launch in North America later this year, illustrating how established automakers are shifting their combustion-vehicle lines toward more powerful, higher-profit variants as regulators clamp down on carbon emissions.

Continue reading “Ford’s new muscle truck, Ranger Raptor, made possible by EVs”

SHANGHAI, May 10 (Reuters) – BYD Co Ltd (002594.SZ), on Wednesday cut the starting price of its best-selling Seal sedan by 10%, as the Chinese electric vehicle (EV) giant seeks to extend its lead in the world’s largest auto market with lower-priced products.

The company replaced its line-up of the model with five new versions. That includes a rear-wheel drive Seal Champion Edition with a 550-km (342-mile) driving range per charge at a starting price of 189,800 yuan ($27,459). This is 20,000 yuan cheaper than a previous version with the same driving range, according to BYD’s website.

Continue reading “China’s BYD cuts starting price for Seal EV; aims to extend lead”

TOKYO, May 10 (Reuters) – A trio of European asset managers has submitted a shareholder proposal urging Toyota Motor Corp (7203.T) to improve disclosure of its lobbying on climate change, likely the first time such a resolution will go before the Japanese automaker’s investors.

The move by the three funds, which collectively hold shares in the world’s biggest automaker worth around $400 million, highlights the pressure new chief executive Koji Sato faces from green investors and climate activists over the company’s environmental lobbying.

Continue reading “Toyota shareholders submit proposal on climate disclosure, in test for new CEO”

JAKARTA, May 10 (Reuters) – Sales of electric cars in Indonesia jumped last month after the government launched tax incentives, auto executives said, in an early sign that electric vehicle (EV) adoption is gaining traction in Southeast Asia’s largest economy.

Effective from April, Indonesia cut the value-added tax (VAT) on electric cars from 11% to just 1%, provided they are manufactured with at least 40% local content.

Continue reading “Indonesia tax cut drives electric car sales for Hyundai, Wuling”

PTI – “Media reports published in various newspapers regarding the finding of large lithium reserves by the Geological Survey of India (GSI), in Degana area, Nagaur district, Rajasthan are completely baseless and misleading,” the survey organisation said.

NEW YORK, May 9 (Reuters) – EV makers Fisker Inc (FSR.N), Nikola Corp (NKLA.O) and Lucid Group (LCID.O) disappointed investors with dull quarterly results and production target cuts, sending their shares lower on Tuesday and deepening worries about weak demand and an ongoing price war.

EV market leader Tesla Inc’s (TSLA.O) move to slash prices and increase volume, as well as lower-priced electric models launched by traditional automakers have hurt startups including Lucid.

Continue reading “Lackluster results, production target cuts deepen EV start-up gloom”

May 9 (Reuters) – Rivian Automotive Inc (RIVN.O) on Tuesday beat Wall Street estimates for quarterly revenue as it sold more higher-priced electric vehicles, and stood by its annual production forecast of 50,000 cars.

Shares in Rivian, which also cut costs during the January-March period, rose about 6% in extended trading as investors cheered its results that followed Lucid Group Inc (LCID.O) and Fisker Inc (FSR.N) trimming their production targets.

Continue reading “Rivian beats quarterly revenue estimates on higher-priced EV sales”

BERKELEY, California, May 9 (Reuters) – Tesla (TSLA.O) said on Tuesday that its Texas factory achieved production of 5,000 Model Y vehicles per week, meaning that it would be able to produce about 260,000 of the vehicles annually.

Tesla’s Texas factory has an annual capacity of at least 250,000 vehicles.

Continue reading “Tesla says its Texas factory hits output of 5,000 Model Ys per week”

WASHINGTON, May 9 (Reuters) – An auto trade group warned on Tuesday that aggressive U.S. targets for reductions in vehicle emissions may rely on a too rapid transition to electric vehicles (EVs) and pose significant challenges with manufacturing and supply chains.

The U.S. Environmental Protection Agency (EPA) has proposed sharp emissions cuts that it estimates would result in 60% of new vehicles by 2030 being electric and 67% by 2032.

Continue reading “Automakers say proposed US emissions rules pose challenges”

PTI – The share of digital has grown to 30-32 per cent of the overall spends now, Maruti Suzuki India Executive Director for Marketing Ram Suresh Akella told PTI on the sidelines of an event hosted by social media giant Meta.

LONDON, May 9 (Reuters) – Ford Motor Co (F.N) said on Tuesday it will test a small fleet of prototype hydrogen fuel-cell versions of its electric E-Transit model to see if they are a workable zero-emission option for customers hauling heavy goods long distances.

Ford will lead a consortium in the three-year project that includes BP (BP.L), which will focus on hydrogen and infrastructure, and British online supermarket and technology group Ocado (OCDO.L).

Continue reading “Ford to test small UK fleet of hydrogen fuel cell E-Transit vans”

BERLIN, May 9 (Reuters) – Porsche (P911_p.DE) will incorporate automated assistance and navigation functions from Mobileye’s (MBLY.O) so-called “SuperVision” technology platform in future models, Mobileye said on Tuesday.

The agreement is the technology provider’s second large signing for the platform with a major automotive group after China’s Geely (GEELY.UL).

Continue reading “Porsche, VW Commercial Vehicles partner with Mobileye on automated driving software”

BEIJING/SHANGHAI, May 9 (Reuters) – China’s passenger vehicle sales rose by 2.1% in April from a month earlier, industry data showed, underscoring a slower pace of growth as the stimulus effect of price cuts and incentives faded.

Car sales in April totalled 1.65 million units, 54.5% higher from a year earlier when COVID-19 lockdowns disrupted productions and sales, the China Passenger Car Association (CPCA) said on Tuesday.

Continue reading “China’s car sales rise 2.1% in April as price war effect fades”