By Hyunjoo Jin and Paul Lienert
San Francisco, April 6 (Reuters) – Tesla Inc (TSLA.O) said it plans to expand the use of cheaper, iron-based batteries to a version of its Semi heavy electric trucks and an affordable electric vehicle.
Tesla Chief Executive Elon Musk has championed on the lithium iron phosphate (LFP) battery technology dominated by Chinese suppliers, saying in March, “the vast majority of the heavy lifting for electrification will be iron-based cells.”
By Norihiko Shirouzu, Joseph White and Maki Shiraki
April 6 (Reuters) – After making sweeping changes to its leadership team, Japan’s Toyota Motor Corp (7203.T) is looking at a factory floor overhaul as it maps out a move to a new, dedicated platform for battery electric vehicles, four people familiar with the matter said.
Koji Sato may confirm that new EV architecture is in the works at his first briefing as CEO on Friday, one of the people has said.
Continue reading “Toyota looks to overhaul EV strategy as new CEO takes charge”
By Joseph White
DETROIT, April 6 (Reuters) – Ford Motor Co (F.N) unveiled a new electric Courier van aimed at winning business customers in Europe, and boxing out electric van startups such as Arrival SA.47K.F
The electric Courier is part of a revamped lineup of smaller, commercial vans for the European market that will also include gasoline and diesel models, Ford said. The new Courier vans are 25% larger than the current model, and will carry heavier loads, Ford Pro chief Ted Cannis said in an interview.
Continue reading “Ford aims a new electric van at European cities – and startups”
April 6 (Reuters) – Jaguar Land Rover expects free cash flow of over 800 million pounds (about $1 billion) for the fourth quarter, boosted by a 24% rise in wholesale volumes as chip and other supply constraints eased, the luxury carmaker owned by India’s Tata Motors (TAMO.NS) said on Thursday.
Tata Motors, which acquired the British car maker in 2008, had set a target of 1 billion pounds of free cash flow for the fiscal year.
Continue reading “Jaguar Land Rover posts Q4 free cash flow about $1 bln”
By David Shepardson and Nathan Gomes
NEW YORK, April 5 (Reuters) – Ford Motor Co (F.N) and Chrysler-parent Stellantis (STLAM.MI) said on Wednesday that most of its electric and plug-in electric hybrid models will see tax credits halved to $3,750 on April 18 after new U.S. Treasury rules take effect.
The rules, which were unveiled Friday, were mandated by Congress in August as part of a $430 billion climate bill. China dominates the global supply chains of products like EV batteries and solar panels and the rules are aimed at moving U.S. battery production and supply chains away from China.
Continue reading “Ford, Stellantis says new rules will cut EV tax credits for most models”
April 5 (Reuters) – New car registrations in the UK rose for the eighth consecutive month in March, recording an 18.2% growth from a year earlier, and also marked the best month ever for battery electric car sales, according to industry data released on Wednesday.
The Society of Motor Manufacturers and Traders (SMMT) said new car registrations jumped to 287,825 units as supply chain challenges continued to ease, making the first quarter of 2023 the strongest three-month period since 2019.
Continue reading “UK new car sales jump 18% YoY in March; best ever month for EVs”
COPENHAGEN, April 5 (Reuters) – Sweden-based Volvo Car AB (VOLCARb.ST) said on Wednesday its sales increased by 8% year-on-year in March to 63,132 cars, helped mainly by the company’s fully electric cars.
Volvo Car, majority-owned by China’s Geely Holding (0175.HK), said in a statement its fully electric models made up 41% of all its cars sold globally in the first three months of this year.
PTI – A total of 11,025 vehicles (7,750 private and 3,275 government vehicles) have been scrapped till March 31 this year by the registered vehicle scrapping facilities, Parliament was informed on Wednesday.
A total of 11,025 vehicles (7,750 private and 3,275 government vehicles) have been scrapped till March 31 this year by the registered vehicle scrapping facilities, Parliament was informed on Wednesday. In a written reply to the Rajya Sabha, Road Transport and Highways Minister Nitin Gadkari further said 24 states/UTs have reported 2,56,935 government-owned vehicles older than 15 years.
Continue reading “Over 11,000 vehicles scrapped till March 31 this year”
PTI – The plan finalised by the Ministry of New & Renewable Energy (MNRE) at a meeting chaired by Union Minister for Power & New and Renewable Energy R K Singh last week, is in accordance with the Prime Minister’s announcement at COP26, of achieving 500 GW of installed electricity capacity from non-fossil fuel (Renewable Energy + Nuclear) sources by 2030.
The government on Wednesday announced a plan to add 250 GW of renewable energy capacity in the next five years to achieve its target of 500 GW of clean energy by 2030. The government has decided to invite bids for 50 GW of renewable energy capacity annually for the next five years i.e., from Financial Year 2023-24 till Financial Year 2027-28, a Ministry of New and Renewable Energy statement said.
Continue reading “Govt unveils plans to add 250GW renewable energy capacity in next five years”
PTI – Killwatt’s business comprises development, design, manufacture, sale and distribution of high-tech products and components in the field of electric two-wheeler and three-wheeler vehicles, it added.
TVS Motor Company on Tuesday said its Singapore-based arm will acquire a 25 per cent stake in Germany-based electric mobility products and components startup Killwatt GmbH. TVS Motor (Singapore) Pte Ltd, has agreed to acquire a 25 per cent stake in Killwatt GmbH by way of newly issued shares of the latter, amounting to 8,500 common equity shares, the company said in a regulatory filing.
Continue reading “TVS Motor Company arm to buy 25% stake in Killwatt GmbH”
PTI – The fresh capital infusion takes the total fund raised by the company to Rs 275 crore, with as much as Rs 95 crore mopped up in various rounds earlier including from Indian-American philanthropist and serial entrepreneur Kiran Patel.
Electric mobility solutions provider Magenta on Wednesday said it has closed a Series A1 funding round with USD 22 million equity investment from the UK-headquartered bp and Morgan Stanley India Infrastructure-managed investment fund. The company plans to deploy the freshly raised capital in fleet and geographical expansion besides investing a part of the funds in technology-build as it focuses on “sustainable and profitable” growth, Maxson Lewis, Founder and Managing Director, Magenta Mobility said.
Continue reading “Magenta Mobility raises USD 22 mn from bp, Morgan Stanley India Infra”
PTI – India on March 31 came out with the new foreign trade policy which aimed at pushing rupee trade, increasing outward shipments to USD 2 trillion by 2030, and promoting e-commerce exports, amid global uncertainties.
The new Foreign Trade Policy (FTP) 2023, announced recently, will help in promoting exports of sectors from e-commerce, batteries for electric vehicles and farm equipment, experts said on Tuesday. India on March 31 came out with the new policy which aimed at pushing rupee trade, increasing outward shipments to USD 2 trillion by 2030, and promoting e-commerce exports, amid global uncertainties.
By Nathan Gomes
April 4 (Reuters) – Ford Motor Co (F.N) posted a 10.1% rise in first-quarter U.S. auto sales on Tuesday, fueled by pent-up demand for electric vehicles, SUVs and trucks amid easing supply chain disruptions.
The Detroit automaker joins other global rivals in reporting a rise in sales, as the industry was able to get more of their vehicles to dealers and customers on time in the quarter.
Continue reading “Ford’s quarterly US auto sales jump 10.1% on pent-up demand, easing supply”
BERLIN, April 4 (Reuters) – Tesla (TSLA.O) will warn that its ‘sentry mode’, which records a car’s surroundings, risks infringing data privacy laws in Germany after consumer group vzbv sued the manufacturer for failing to mention this in advertising.
The case is the latest in a series of disputes in countries from China to the Netherlands over the cameras in Tesla cars, which the company says are to protect from theft or vandalism but authorities worry lead to filming without consent.
Continue reading “Tesla to warn of data privacy risk from car security cameras in Germany”
By Joseph White and David Shepardson
April 4 (Reuters) – About 5,000 General Motors Co (GM.N) salaried workers took buyouts to leave the company, putting the company well on the way to hitting a $2 billion cost-cutting target, the automaker’s chief financial officer said Tuesday.
GM shares were trading down 2.1% in afternoon trading, even though CFO Paul Jacobson said demand for GM’s trucks and SUVs remains strong in the United States.
Continue reading “GM buyouts cut 5,000 salaried jobs, CFO says”
By Eric Onstad
LONDON, April 4 (Reuters) – Sweden, South Africa and Australia are at the forefront of a push to transform piles of mine waste and by-products into rare earths vital for the green energy revolution, hoping to substantially cut dependence on Chinese supply.
Prices of the minerals used in products from electric cars to wind turbines have been strong, and a rush to meet net-zero carbon targets is expected to further boost demand.
Continue reading “Mine waste finds new life as source of rare earths”
By Paul Lienert
April 4 (Reuters) – A new generation of electric vehicle (EV) batteries that hold more energy, achieve longer driving range and charge more quickly should begin reaching customers by mid-decade, powered by new silicon-based electrodes that are slated to go into production next year in central Washington state.
Two startup companies, Group14 Technologies and Sila Nanotechnologies, are focused on new applications for silicon, an abundant element that is being developed as a supplement or replacement for graphite in battery anodes.
Continue reading “New silicon anodes could help EV batteries go farther, charge faster”
April 3 (Reuters) – A federal jury in San Francisco on Monday ordered Tesla Inc (TSLA.O) to pay about $3.2 million to a Black former employee after he won a racial harassment lawsuit against the electric-vehicle maker, far less than the $15 million he rejected last year in opting for a new trial.
The verdict came after a week-long retrial in the 2017 lawsuit by plaintiff Owen Diaz, who in 2021 was awarded $137 million by a different jury. A judge agreed with that jury that Tesla was liable but said the award was excessive. He ordered a new trial on damages after Diaz declined the reduced $15 million award.
Continue reading “Tesla ordered to pay $3.2 million to Black ex-worker in US race bias case”
PARIS, April 3 (Reuters) – France could offer tax breaks and subsidies for producing climate friendly technologies in the country, according to proposals on Monday from lawmakers preparing a green industry bill.
In the scramble to adopt more low-carbon, France’s government is concerned that its companies could fall irrevocably behind U.S. rivals, boosted by the Biden administration’s $430 billion Inflation Reduction Act.
Continue reading “French lawmakers propose tax credits, subsidies for green industry”
April 3 (Reuters) – Membership in the United Auto Workers union rose 3% in 2022 to 383,000 as it works to organize workers in battery plants and other electric vehicle components.
Last month, Shawn Fain won a closely contested race against incumbent Ray Curry for UAW president by fewer than 500 votes out of about 140,000 cast. Fain said last week the union was ready to go to war against “employers who refuse to give our members their fair share.”
Continue reading “United Auto Workers union membership rose 3% in 2022 to 383,000”
PTI – Yulu said it provides flexible rental packs and allows delivery partners to earn higher earnings compared to ICE-powered vehicles.
Electric bike-sharing startup Yulu has joined hands with food delivery platform Zomato for providing 25,000-35,000 units of its purpose-built e-scooter DeX to the latter’s delivery partners for last-mile delivery on custom-made rental plans, a statement said on Monday. Once deployed, these e-scooters have the potential of serving three-lakh green deliveries every day by 2026, Yulu said in a statement.
Continue reading “Yulu ties up with Zomato to provide e-scooter for food deliveries”
PTI – The carmaker produced a record 19.22 lakh units in 2022-23. It, however, fell short of its target of taking the overall production to 20 lakh units in the last fiscal. In March this year, the company’s total production, including passenger vehicles and light commercial vehicles, stood at 1,54,148 units, down 6 per cent from 1,63,392 units.
The country’s largest car maker Maruti Suzuki India on Monday said its production volume could be hit in the current fiscal with the supply situation of electronic components remaining unpredictable. The auto major said the shortage of electronic components had some impact on the production of vehicles in the last financial year as well.
April 3 (Reuters) – Top global automakers reported a rise in first-quarter U.S. sales on improving shipments to dealers, with the exception of Toyota Motor Corp (7203.T), which continued to grapple with parts shortage, data showed on Monday.
General Motors Co (GM.N), which replaced Toyota as the top U.S. automaker in 2022, posted a 17.6% rise in first-quarter auto sales.
Continue reading “US sales at top automakers rise on improving inventory, Toyota struggles”
Oct 10 (Reuters) – Rising demand for electric vehicles (EV) around the world is encouraging automakers such as Tesla Inc (TSLA.O), Volkswagen (VOWG_p.DE) and Stellantis NV (STLA.MI) to step up efforts to secure raw materials needed for making batteries.
Following are some of the deals major automakers have announced with suppliers and miners:
TESLA (TSLA.O):
26-Aug-2022 – Panasonic Holdings Corp (6752.T), a supplier to Tesla, is in talks to build an additional EV battery plant in the United States at a cost of about $4 billion.
Continue reading “Factbox: Automakers accelerate drive to secure battery raw materials”
April 3 (Reuters) – Rivian Automotive Inc (RIVN.O) maintained its annual forecast on Monday as the electric-vehicle maker scrambles to lift output in an industry under pressure from an uncertain economy and a price war started by Tesla Inc (TSLA.O).
Shares of Rivian, whose backers include Amazon.com Inc (AMZN.O), fell 2.4% in a broad decline for EV stocks that saw Tesla fall 6.3% after its own production report.
Continue reading “Rivian reiterates production forecast as EV maker rushes to boost output”
BERLIN, April 2 (Reuters) – Volkswagen (VOWG_p.DE) does not plan to develop a new combustion engine generation of its legendary Golf car, brand chief Thomas Schaefer told autos publication Automobilwoche on Sunday, marking the end of the line for a vehicle on sale since 1974.
The Golf 8, currently in production, will be the last combustion engine version of the hatchback car, with one more series of updates expected next year.
Continue reading “Volkswagen not planning new combustion engine Golf, Automobilwoche reports”
SHANGHAI, April 1 (Reuters) – China’s Huawei Technologies (HWT.UL) is partnering with more legacy automakers to produce Aito-branded electric cars, the company’s senior executive said on Saturday, in a move to expand its presence in the auto industry.
Huawei will team up with Chery Automobile (CHERY.UL), BAIC Motor (1958.HK) and Anhui Jianghuai Automobile Group (600418.SS) in jointly developing and manufacturing Aito-branded vehicles, Richard Yu, Huawei’s Smart Car CEO, said at the China EV 100 forum in Beijing.
Continue reading “China’s Huawei partners with more automakers to produce Aito EVs”
WASHINGTON/MEXICO CITY, March 31 (Reuters) – The U.S. and Mexico on Friday announced a deal to resolve a U.S. labor complaint at VU Manufacturing in northern Mexico that requires the auto parts plant to let workers freely choose their union in line with a trade pact aimed at improving labor rights.
Mexico’s government previously found “serious irregularities” at the factory violating the 2020 United States-Mexico-Canada Agreement (USMCA), the second probe into the plant at the request of the U.S. following worker complaints.
Continue reading “U.S., Mexico agree deal to fix labor dispute at VU Manufacturing plant”
PTI – Royal Enfield, the motorcycle maker, plans to extend its global reach, including setting up assembly operations in Bangladesh and Nepal, according to CEO B Govindarajan, to expand its record-breaking exports of 1,00,055 units in FY23. Royal Enfield has assembly units in Argentina, Brazil, Colombia, and Thailand, and plans to locate nearby its international consumers to gain their long-term confidence.
Motorcycle maker Royal Enfield plans to strengthen its international presence, including setting up of assembly operations in Nepal and Bangladesh, to expand its global footprints, riding on the back of record exports last fiscal, according to CEO B Govindarajan. The company, which is present in over 40 countries in the middleweight motorcycle category of 250cc to 750cc, is banking on its existing products and “a slew of new products lined up” to enhance its share in the markets and segments it is present.
PTI – The entry-level trims of the models, which come with a 1.5-litre petrol engine, would however continue to feature the manual transmission in order to cater to the price-conscious customer.
Automaker Kia India aims to garner 40 per cent of its overall sales this year from cars with an intelligent manual transmission (iMT) as demand for automatic vehicles continues to grow in the domestic market, according to a senior company official. The automaker is replacing manual transmission with intelligent manual transmission (iMT) in turbo petrol and diesel trims of Seltos, Carens and Sonet.
Continue reading “Kia India expects 40 % of sales in 2023 to accrue from iMT trims”
PTI – Prime Minister Narendra Modi on Sunday hailed the Steel Authority of India Limited (SAIL) for its best ever annual production in the 2022-23 fiscal, and said this shows that not only in steel, but also in every sector the country is moving fast towards self-reliance.
Prime Minister Narendra Modi on Sunday hailed the Steel Authority of India Limited (SAIL) for its best ever annual production in the 2022-23 fiscal, and said this shows that not only in steel, but also in every sector the country is moving fast towards self-reliance. In a tweet in Hindi, SAIL said it has achieved its best ever annual production in FY 2022-23.
Continue reading “PM hails SAIL for its best ever annual production”
PTI – The auto major said its passenger vehicle sales in the domestic market stood at 44,044 units last month, as compared to 42,293 units in the same month last year. Commercial vehicle sales in the domestic market stood at 46,823 units as against 47,050 units in March 2022, it added.
Tata Motors on Saturday said its total domestic wholesales increased by 3 per cent to 89,351 units in March compared to the same month last year. The company sold 86,718 units in March 2022.
Continue reading “Tata Motors total domestic sales up 3% at 89,351 units in March”
SHANGHAI, April 1 (Reuters) – A senior Volkswagen AG (VOWG_p.DE) China executive reiterated on Saturday the German automaker’s commitment to quickening the pace of electrification in the world’s second largest economy despite issues such as intensified competition and weak demand.
VW plans to increase the number of charging posts in China for electric vehicles to 17,000 by 2025, as it planned to invest 15 billion euros ($16.26 billion) in the country on electric mobility together with its three joint ventures by 2024, Stefan Mecha, chief executive of the Volkswagen brand in China, told China’s EV 100 forum in Beijing.
Continue reading “VW pledges to double down on EVs in China, urges extension of NEV tax breaks”
NEW YORK, March 31 (Reuters) – Elon Musk asked a U.S. judge on Friday to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin.
In an evening filing in Manhattan federal court, lawyers for Musk and his electric car company Tesla Inc (TSLA.O) called the lawsuit by Dogecoin investors a “fanciful work of fiction” over Musk’s “innocuous and often silly tweets” about Dogecoin.
Continue reading “Elon Musk seeks to end $258 billion Dogecoin lawsuit”
March 31 (Reuters) – Carmaker Stellantis NV (STLAM.MI) said on Friday its Portugal plant would become the first assembly plant in the country to produce large series fully battery electric compact vans by 2025.
Stellantis’s Mangualde Production Center, which has made over 1.5 million vehicles, will produce battery electric light commercial vehicles for Citroën, Fiat, OPEL and Peugeot, the company said in a statement.
By Foo Yun Chee
BRUSSELS, March 31 (Reuters) – Car services groups on Friday warned a stalled EU proposal to ensure fair access to valuable vehicle data could pave the way for unfair competition from U.S. and Chinese tech companies.
The vehicle data tussle between carmakers and a coalition of insurers, leasing companies and repair shops underscores the huge potential of the connected car market, which consultancy Fortune Business Insights says could grow to 250 billion-400 billion euros ($272 billion-$435 billion) by 2030.
Continue reading “Car services groups warn of unfair competition as EU data plan stalls”
DETROIT, March 31 (Reuters) – General Motors (GM.N) plans to phase out widely-used Apple CarPlay and Android Auto technologies that allow drivers to bypass a vehicle’s infotainment systems, shifting instead to built-in infotainment systems developed with Google for future electric vehicles.
Apple CarPlay and Android Auto systems allow users to mirror their smartphone screens in a vehicle’s dashboard display.
Continue reading “GM plans to phase out Apple CarPlay in EVs, with Google’s help”
By David Shepardson and David Lawder
WASHINGTON, March 31 (Reuters) – The U.S. Treasury Department on Friday unveiled stricter electric vehicle tax rules that will reduce or cut tax credits on some zero-emission models but grant buyers another two weeks before the new requirements take effect.
The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and part of President Joe Biden’s effort to make 50% of U.S. new vehicle sales by 2030 EVs or plug-in hybrids.
Continue reading “US unveils stricter EV tax credit rules to take effect April 18”
March 31 (Reuters) – Tesla Inc (TSLA.O) has been sued by a Black former general manager who says he was fired for pushing back against comments by his white supervisor that he claims were racist, the latest in a series of race bias cases against the world’s most valuable automaker.
John Goode, who oversaw a Tesla service center near Atlanta, filed a lawsuit in San Francisco federal court on Thursday claiming a regional manager blocked him from consideration for a promotion before having him fired on false pretenses on March 3.
Continue reading “Tesla faces new race bias claims while a separate trial wraps up”
