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BMW planning major investment in Mexico, minister says

BMW planning major investment in Mexico, minister says

MEXICO CITY, Jan 13 (Reuters) – German carmaker BMW (BMWG.DE) is planning a new major investment in the central Mexican state of San Luis Potosi, where the company already has a plant, Mexican Foreign Minister Marcelo Ebrard said Friday.

A day earlier, Ebrard and President Andres Manuel Lopez Obrador had said BMW was investing around 800 million euros ($866.64 million) in San Luis Potosi, without specifying whether it was a new outlay in Mexico. Continue reading “BMW planning major investment in Mexico, minister says”

Carvana terminates more workers amid weak used car sales -WSJ

Carvana terminates more workers amid weak used car sales -WSJ

Jan 13 (Reuters) – Carvana Co (CVNA.N) is terminating more workers and take other measures such as reduced work hours as the used-car retailer contends with weak sales, the Wall Street Journal reported on Friday.

The company was letting open positions go unfilled and several operations teams were working fewer than 30 hours a week or four-day work weeks, the WSJ reported, citing current and former employees as well as internal emails. Continue reading “Carvana terminates more workers amid weak used car sales -WSJ”

U.S. to lend ioneer $700 million for Nevada lithium mine

U.S. to lend ioneer $700 million for Nevada lithium mine

WASHINGTON, Jan 13 (Reuters) – The U.S. Energy Department said on Friday it will lend ioneer Ltd (INR.AX), up to $700 million to build its Rhyolite Ridge lithium mining project in Nevada, a major step forward in President Joe Biden’s plan to develop a domestic electric vehicle supply chain.

Ioneer shares were up 16.3% at $16.30 on Friday afternoon in New York. Continue reading “U.S. to lend ioneer $700 million for Nevada lithium mine”

Back to the future: Toyota sets sights on old-car upgrades in zero-emissions drive

Back to the future: Toyota sets sights on old-car upgrades in zero-emissions drive

CHIBA, Japan, Jan 13 (Reuters) – In an eye-catching bid to show that cars can be clean while appealing to old-school petrolheads, Toyota Motor (7203.T) on Friday showcased zero-emission versions of its 1980s sports range, which still boasts a strong global fan base.

At an industry event for customised cars in Chiba, east of Tokyo, the Japanese automaker unveiled two cars of the AE86 generation, one modified as a battery-electric vehicle and the other as a hydrogen-engine model. Continue reading “Back to the future: Toyota sets sights on old-car upgrades in zero-emissions drive”

Exclusive: Chinese EV maker BYD to build Vietnam component plant – sources

Exclusive: Chinese EV maker BYD to build Vietnam component plant – sources

HANOI, Jan 13 (Reuters) – Chinese electric vehicle (EV) maker BYD Auto Co plans to build a plant in Vietnam to produce car parts, three people with knowledge of the plan told Reuters, in a move that would reduce the company’s reliance on China and deepen its supply chain in Southeast Asia as part of a global expansion.

The investment in northern Vietnam would exceed $250 million, one of the people said, expanding parent BYD Co’s (002594.SZ) presence in Vietnam, where its electronic unit produces solar panels. Continue reading “Exclusive: Chinese EV maker BYD to build Vietnam component plant – sources”

Volkswagen announces changes to Mexico, Canada supervisory boards

Volkswagen announces changes to Mexico, Canada supervisory boards

FRANKFURT, Jan 12 (Reuters) – German car company Volkswagen Group (VOWG_p.DE) announced on Thursday promotions in its North American operations, CFO and COO Arno Antlitz posted on LinkedIn.

Volkswagen of America President and CEO Pablo Di Si will take on the role of chairman of the company’s Mexican supervisory board, and Andrew Savvas, Chief Sales & Marketing Officer at Volkswagen of America, will become chairman of its Canadian supervisory board. Continue reading “Volkswagen announces changes to Mexico, Canada supervisory boards”

Tata considers India, Europe for EV cell manufacturing plants

Tata considers India, Europe for EV cell manufacturing plants

GREATER NOIDA, India, Jan 12 (Reuters) – Tata group is considering setting up plants in India and Europe to produce battery cells for electric vehicles (EV), the chief financial officer of its auto unit told Reuters in an interview.

With total sales of 50,000 electric cars to date, India’s Tata Motors dominates the country’s EV market and has outlined plans to launch 10 electric models by March 2026. The company expects electric models to make up a quarter of its total sales by 2025 from around 8% now. Continue reading “Tata considers India, Europe for EV cell manufacturing plants”

Google, Porsche in talks over Google Apps access

Google, Porsche in talks over Google Apps access

BERLIN, Jan 12 (Reuters) – Porsche (P911_p.DE) is considering fully integrating Google software into its car cockpit, a source close to the company said on Thursday, marking a shift in strategy for the newly listed carmaker.

The deal, which is only being considered for the Porsche brand and not the Volkswagen Group more widely, would enable Porsche customers access to Google applications like Google Maps and Google Assistant without needing to connect the car to an Android phone. Continue reading “Google, Porsche in talks over Google Apps access”

Canada, Mexico win auto rules trade dispute with U.S.

Canada, Mexico win auto rules trade dispute with U.S.

OTTAWA, Jan 11 (Reuters) – Canada and Mexico have won their challenge to the U.S. interpretation of content rules for autos under the new North American trade pact, a dispute panel ruled on Wednesday, a decision that favors parts makers north and south of the U.S. border.

A year ago Canada and Mexico filed a complaint against the United States over how to apply automotive-sector content requirements under the United States-Mexico-Canada (USMCA) free trade agreement, which came into effect in 2020. Continue reading “Canada, Mexico win auto rules trade dispute with U.S.”

Tesla turns up heat on rivals with global price cuts

Tesla turns up heat on rivals with global price cuts

  • Tesla cuts prices globally by up to 20%
  • Shares fall in U.S. trade, drag rivals lower
  • Move follows price cuts across Asia last week
  • Some models now qualify for U.S. credits, French subsidy
  • Recent Tesla buyers complain of missing out

Jan 13 (Reuters) – Tesla Inc (TSLA.O) has slashed prices globally on its electric vehicles by as much as 20%, extending an aggressive discounting effort and challenging rivals after missing Wall Street delivery estimates for 2022. Continue reading “Tesla turns up heat on rivals with global price cuts”

Auto Expo – The Motor Show 2023 welcomes visitors at the start of the weekend

Auto Expo – The Motor Show 2023 welcomes visitors at the start of the weekend

  • Kick-starts the weekend with a fun-filled experience for the visitors and families
  • The Auto Expo 2023 highlights the core pillars of the Sustainable Mobility Initiative – Surakshit Safar, Javik Pahal, Vidyutikaran and Chakriyata

Greater Noida, 14th Jan 2023: Auto Expo – The Motor Show 2023, today welcomed the public to the Expo Mart, as visitors came out in large numbers with their families to experience the wonderful start of the weekend. On the second public day of the auto show, which became the convergence of a plethora of events and a promising footfall, the show opened its gates for the public from 11 AM to 8 PM today and will have the same timing across the Expo days. Continue reading “Auto Expo – The Motor Show 2023 welcomes visitors at the start of the weekend”

FADA concluded its flagship event, the 12th Edition of “Auto Summit 2023 -Fit & Future Ready”

FADA concluded its flagship event, the 12th Edition of “Auto Summit 2023 -Fit & Future Ready”

  • Dr Pawan Goenka, Chairperson of INSPACe – Department of Space, Government of India, was given a lifetime achievement award for his enormous contributions to the Indian Auto industry
  • Mr KVS Prakash Rao, a former president of FADA, received an award for his exceptional contributions to the automotive dealer community

New Delhi, January 14, 2023: The 12th edition of the Auto Summit 2023, the biennial flagship convention of the Federation of Automotive Dealers Association (FADA) concluded today in New Delhi. The summit was themed “FIT & FUTURE READY,” and it provided an overview of the Indian Retail Automobile Industry. The was attended by senior government officials as well as stalwarts of the Indian automobile industry and industry think tanks.  Continue reading “FADA concluded its flagship event, the 12th Edition of “Auto Summit 2023 -Fit & Future Ready””

FADA concluded its flagship event, the 12th Edition of “Auto Summit 2023 – Fit & Future Ready”

FADA concluded its flagship event, the 12th Edition of “Auto Summit 2023 – Fit & Future Ready”

  • Dr Pawan Goenka, Chairperson of INSPACe – Department of Space, Government of India, was given a lifetime achievement award for his enormous contributions to the Indian Auto industry
  •  Mr KVS Prakash Rao, a former president of FADA, received an award for his exceptional contributions to the automotive dealer community

New Delhi, January 13, 2023: The 12th edition of the Auto Summit 2023, the biennial flagship convention of the Federation of Automotive Dealers Association (FADA) concluded today in New Delhi. The summit was themed “FIT & FUTURE READY,” and it provided an overview of the Indian Retail Automobile Industry. The was attended by senior government officials as well as stalwarts of the Indian automobile industry and industry think tanks.

The summit provided a common forum for industry, leaders, manufacturers, government officials, dealers, Industry analysts, academia, and various think tanks to discuss the changing dynamics of the Indian auto retail and service industry, upcoming business opportunities, and envisioning the industry’s future. Continue reading “FADA concluded its flagship event, the 12th Edition of “Auto Summit 2023 – Fit & Future Ready””

LML Star makes its Grand Debut at Auto Expo 2023; makes heads turn for its unique blend of design and features

LML Star makes its Grand Debut at Auto Expo 2023; makes heads turn for its unique blend of design and features

New Delhi, January 13, 2023: LML Emotion, the industry-leading two-wheeler EV Company, unveiled the product features of its much-awaited iconic two-wheeler EV, the LML Star, at Auto Expo 2023, organized by SIAM (Society of Indian Automobile Manufacturers). The LML Star has been a timeless icon on the streets and in the hearts of millions across generations. It is a scooter that has been known and loved for its quality, innovation, and style. Now, this legendary name has been reimagined by an Indo-Italian team to create an ultimate riding experience like no other.

At the Auto Expo 2023, the reimagined LML Star was unveiled; taking the world by surprise, for it is not just a product but a fashion statement that will make a lasting impression. The features of the Star make it a great choice for an otherworldly riding experience. Its Italian design adds to the scooter’s classy and elite appeal, making it the ideal everyday companion for the modern consumer. The technologically advanced and feature-rich product, with its best center of gravity due to its removable battery placed on the footboard and the best-in-class boot space, adds to its riding experience. Continue reading “LML Star makes its Grand Debut at Auto Expo 2023; makes heads turn for its unique blend of design and features”

MG showcases its Hydrogen Fuel-Cell technology in India at Auto Expo 2023

MG showcases its Hydrogen Fuel-Cell technology in India at Auto Expo 2023

Greater Noida, January 12, 2023: Demonstrating the future of mobility in India with a greater focus on sustainability, MG Motor India today showcased new energy vehicles (NEVs) with its third-generation hydrogen fuel cell technology, at the Auto Expo 2023. The world-leading hydrogen fuel-cell system underlines MG’s commitment to providing clean and efficient travel based on green, renewable power sources.

The hydrogen fuel-cell system was first launched as the Phoenix No 1 fuel-cell vehicle project in 2001. Now the newly developed third-generation fuel-cell system, also known as PROME P390, comes with cutting-edge features such as integrated design, high power density, high durability, high reliability, and excellent environmental adaptability. With a system power of 92 kW, the world-leading fuel cell technology adheres to the highest safety standards and performs well over key performance indicators including those for comfort, fuel economy, and service life. The intelligent control algorithms of the PROME P390 also offer fast response and accurate control over the vehicle. The fuel-cell system can be used in fuel-cell passenger cars, city buses, medium and heavy trucks, and other vehicle platforms. Continue reading “MG showcases its Hydrogen Fuel-Cell technology in India at Auto Expo 2023”

Ward Wizard unveils High-Speed Electric Scooter ‘MIHOS’ with advanced technology

Ward Wizard unveils High-Speed Electric Scooter ‘MIHOS’ with advanced technology

  • The body panels of the new electric scooter are built with Poly Dicyclopentadiene Material (PDCPD) for additional durability and flexibility to absorb maximum impact
  • The new-age high-speed electric scooter comes packed with Lithium-Ion (NMC), with a charging time of 4 hours, delivering 100km* on a single charge
  • Equipped with smart and intelligent features: Reverse Mode, Antitheft Regenerative Braking, Geo-fencing, keyless operation and many more
  • CAN-based intelligent electronics
  • Booking starts from January 12, 2023, across all the company’s authorised 600+ dealerships

Greater Noida, January 12, 2023: Taking a leap in the era of sustainability and green mobility, WardWizard, a leading manufacturer of electric two-wheeler Joy ebike, today launched its new high-speed electric scooter ‘MIHOS’ with Poly Dicyclopentadiene Material (PDCPD) to bring high standards of durability for the riders.  Continue reading “Ward Wizard unveils High-Speed Electric Scooter ‘MIHOS’ with advanced technology”

Volvo Trucks India Driving Progress over a quarter century- Commits to Smart Sustainability

Volvo Trucks India Driving Progress over a quarter century- Commits to Smart Sustainability

  • Offers productivity solutions for customers to drive progress through higher productivity and efficiency levels
  • Addressing Mining, Construction and Demanding Long Haul segments with new range of CVs

Greater Noida, 12 January 2023: Volvo Trucks India, a division of VE Commercial Vehicles – a Volvo Group and Eicher Motors Joint Venture, today showcased the Volvo LNG-powered FM 420 4×2 Tractor, it’s next alternate-fuel offering alongside at India’s largest auto show, Auto Expo 2023. This LNG powered vehicle will cater to the growing demand for long haul applications like e-commerce where timely and speedy delivery are critical while reducing emissions. With this powerful vehicle, Volvo trucks endeavours to set new standards of productivity in the express logistics segment and at the same time reduce the carbon emissions significantly Continue reading “Volvo Trucks India Driving Progress over a quarter century- Commits to Smart Sustainability”

Tata considers India, Europe for EV cell manufacturing plants

Tata considers India, Europe for EV cell manufacturing plants

GREATER NOIDA, India, Jan 12 (Reuters) – Tata group is considering setting up plants in India and Europe to produce battery cells for electric vehicles (EV), the chief financial officer of its auto unit told Reuters in an interview.

With total sales of 50,000 electric cars to date, India’s Tata Motors dominates the country’s EV market and has outlined plans to launch 10 electric models by March 2026. The company expects electric models to make up a quarter of its total sales by 2025 from around 8% now. Continue reading “Tata considers India, Europe for EV cell manufacturing plants”

BYD India Unveils its Luxury Electric Sedan BYD Seal & Launches BYD ATTO 3 Limited Edition at Auto Expo 2023

BYD India Unveils its Luxury Electric Sedan BYD Seal & Launches BYD ATTO 3 Limited Edition at Auto Expo 2023

  • The luxury sedan BYD Seal is planned to be launched in India by Q4 2023
  • BYD Seal boasts all-wheel-drive, 0-100 km/h in 3.8 seconds, and a range of 700 km
  • Third new passenger EVs within two years
  • The Indian-specific theme displayed: Technological Innovations for A Better Life
  • 1200 units of BYD ATTO 3 Limited Edition available in Forest Green Color
  • First batch of BYD ATTO 3 delivery starts on 11th Jan 2023
  • Plans to double the dealer network by 2023

Continue reading “BYD India Unveils its Luxury Electric Sedan BYD Seal & Launches BYD ATTO 3 Limited Edition at Auto Expo 2023”

JBM Auto Launches India’s First Indigenously Designed and Manufactured 100% Electric Luxury Coach – JBM GALAXY

JBM Auto Launches India’s First Indigenously Designed and Manufactured 100% Electric Luxury Coach – JBM GALAXY

Also showcases its new series of e-buses including City Bus, Staff Bus and School Bus

Greater Noida, January 11, 2023: Continuing its mission to transform public mobility and expand its business in the emerging electric vehicles sector, JBM Auto today launched India’s first completely designed and manufactured 100% electric luxury coach – JBM GALAXY. The luxury coach was unveiled by Mr. S.K. Arya, Chairman and Mr. Nishant Arya, Vice Chairman, JBM Group. JBM Auto is the flagship company of the $2.2 billion global Indian conglomerate, JBM Group.

Continue reading “JBM Auto Launches India’s First Indigenously Designed and Manufactured 100% Electric Luxury Coach – JBM GALAXY”

Greaves Cotton showcases its EV might at Auto Expo 2023 with six new electric two and three-wheelers while also foraying into electric powertrains

Greaves Cotton showcases its EV might at Auto Expo 2023 with six new electric two and three-wheelers while also foraying into electric powertrains

Deploys INR 1500 crores to develop the Make in India EV ecosystem since its entry into the e-mobility space

  • Unveils feature-rich, Made in India range of six electric 2 & 3 wheelers inspired by the Arctic Tern, for last mile passenger and cargo mobility that spans different use cases across consumer segments
  • Leverages decades of engineering expertise to manufacture electric powertrains
  • Ampere Primus, the new high-speed e-scooter unveiled, is open for bookings across India

Continue reading “Greaves Cotton showcases its EV might at Auto Expo 2023 with six new electric two and three-wheelers while also foraying into electric powertrains”

Ashok Leyland showcases future of commercial vehicle industry at the Auto Expo 2023

Ashok Leyland showcases future of commercial vehicle industry at the Auto Expo 2023

Delhi, 11th January 2023: Ashok Leyland, an Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer, today showcased seven advanced mobility solutions at the Auto Expo 2023.

The Company which has been a forerunner in introducing cutting-edge technologies, demonstrated its futuristic vehicle range, powered by electric and hydrogen options. Continue reading “Ashok Leyland showcases future of commercial vehicle industry at the Auto Expo 2023”

Kia India exhibits Kia Concept EV9 and the new KA4; commits investment of INR 2,000 Crores for development of sustainable mobility

Kia India exhibits Kia Concept EV9 and the new KA4; commits investment of INR 2,000 Crores for development of sustainable mobility

  • Investment will be used for EV related R&D, infrastructure development and manufacturing
  • Marks its entry into the Purpose Built Vehicles (PBV) segment with Carens converted into a police van and an ambulance addressing specific mobility needs of various institutions
  • Announces its two long-term CSR programmes – Project DROP and Uphaar

Continue reading “Kia India exhibits Kia Concept EV9 and the new KA4; commits investment of INR 2,000 Crores for development of sustainable mobility”

Volvo and Eicher showcase future-ready mobility solutions aligned with vision of Smart Sustainability

Volvo and Eicher showcase future-ready mobility solutions aligned with vision of Smart Sustainability

  • Unveils India’s longest Eicher 13.5m electric Intercity Coach
  • Unveils Eicher 2049 (4.9Ton GVW) electric distribution truck for near-city and city distribution
  • Unveils LNG drivetrain for Long Haul Trucking
  • Displays Hydrogen ICE and Hydrogen Fuel Cell technologies
  • Aligned with Government of India vision for efficient logistics and decarbonized Auto Industry

Greater Noida, January 11th, 2023: VE Commercial Vehicles (A Volvo Group and Eicher Motors Joint Venture) unveiled a range of future ready mobility solutions from the Eicher and Volvo brands at Auto Expo 2023. Aligned with the Government’s vision for sustainable, efficient and affordable logistics, Volvo and Eicher are committed to the rapidly modernizing Indian logistics ecosystem through application-specific alternate fuels & smart support solutions. Under the banner of VECV’s vision of Smart Sustainability, the company showcased its expanded EV and Natural Gas portfolio. Also on show are a range of alternative fuel prototypes, building on VECV’s leadership in driving modernization in bus and truck transport in India and the developing world. Continue reading “Volvo and Eicher showcase future-ready mobility solutions aligned with vision of Smart Sustainability”

Global premiere of Concept Electric SUV “eVX” | Maruti Suzuki showcases a range of sustainable offerings at Auto Expo 2023

Global premiere of Concept Electric SUV “eVX” | Maruti Suzuki showcases a range of sustainable offerings at Auto Expo 2023

Maruti Suzuki showcases a range of sustainable offerings at Auto Expo 2023

  • Concept Electric SUV eVX reveals Maruti Suzuki’s bold plan towards electric mobility in India
  • Designed and developed by Suzuki Motor Corporation, the Concept eVX is underpinned by a ground-up all-electric platform that will spawn a range of future EVs
  • Powered by a 60kWh battery pack offering up to 550km of driving range
  • The ‘Emotional Versatile Cruiser’ – Concept Electric SUV eVX offers a futuristic design with longer wheelbase and shorter overhang to convey design athleticism and robustness along with unmatched cabin roominess and comfort
  • INR 100 billion investment committed by Suzuki Motor Corporation for production of BEVs and batteries in India

New Delhi, January 11, 2023: Building on its commitment towards sustainable motoring, Maruti Suzuki India Limited today showcased the Concept Electric SUV eVX at Auto Expo 2023. With this, the company has reinforced its vision of developing sustainable powertrain systems through continuous technological development and innovation. The ‘Emotional Versatile Cruiser,’ – Concept eVX is a mid-size electric SUV concept designed and developed by Suzuki Motor Corporation, Japan offering futuristic SUV design elements with an upright posture and commanding high-seating. The Concept Electric SUV eVX will be powered by a 60kWh battery pack offering up to 550km of driving range. Continue reading “Global premiere of Concept Electric SUV “eVX” | Maruti Suzuki showcases a range of sustainable offerings at Auto Expo 2023”

Tata Motors looks to expand electric car portfolio, add pricier models

Tata Motors looks to expand electric car portfolio, add pricier models

GREATER NOIDA, India Jan 11 (Reuters) – Tata Motors (TAMO.NS) plans to expand its electric car portfolio with new models and higher price points, its managing director said on Wednesday, as it looks to cement its lead as the top selling electric vehicle (EV) company in India.

The carmaker will also offer a choice of ranges for its EVs so it can address the needs of multiple buyers, including shorter ranges for city use, Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and its EV subsidiary told Reuters on the sidelines of India’s Auto Expo car show. Continue reading “Tata Motors looks to expand electric car portfolio, add pricier models”

Audi Mexico and union avert strike in deal for 9.4% pay rise

Audi Mexico and union avert strike in deal for 9.4% pay rise

MEXICO CITY, Jan 11 (Reuters) – Carmaker Audi’s Mexico unit and worker representatives have agreed to 9.4% salary raises for 2023, forestalling a strike in reaching a deal for one of the highest automaker wage hikes in Mexico in recent years.

The Independent Union of Audi Mexico Workers (SITAUDI) and Audi previously negotiated two options to raise wages for the plant’s 4,000 unionized employees in the central state of Puebla, but workers in December rejected both. Continue reading “Audi Mexico and union avert strike in deal for 9.4% pay rise”

VW’s Skoda Auto deliveries drop for fourth straight year in 2022

VW’s Skoda Auto deliveries drop for fourth straight year in 2022

PRAGUE, Jan 11 (Reuters) – Volkswagen (VOWG_p.DE) unit Skoda Auto saw its global deliveries fall by 16.7% in 2022 due to parts shortages, supply chain problems and the war in Ukraine, but it expects improvement this year, the Czech carmaker said on Wednesday.

The automotive sector struggled globally last year, hindered by components shortages, especially for semiconductors, triggered by COVID-19 outbreaks in Asia, and by the impact of Russia’s war against Ukraine launched in February. Continue reading “VW’s Skoda Auto deliveries drop for fourth straight year in 2022”

U.S. agency plans to propose new fuel economy standards in April

U.S. agency plans to propose new fuel economy standards in April

WASHINGTON, Jan 10 (Reuters) – The National Highway Traffic Safety Administration (NHTSA) plans to propose new fuel economy standards for the 2027 model year and beyond in April which could dramatically reshape new cars on America’s roads.

Acting NHTSA Administrator Ann Carlson told reporters on Tuesday the agency aims to release its proposal by late April and finalize it within a year. The proposal will include regulatory alternatives. Continue reading “U.S. agency plans to propose new fuel economy standards in April”

German chancellor meets auto, battery bosses in ‘mobility’ summit

German chancellor meets auto, battery bosses in ‘mobility’ summit

BERLIN, Jan 10 (Reuters) – German carmakers, Tesla, chip producers and battery maker Northvolt met the German chancellor and cabinet ministers on Tuesday to discuss topics from European law on vehicle emissions to energy prices, according to two participants.

The annual summit was formerly only for carmakers but was this time dubbed a “mobility” summit, with the broader focus signalled by Northvolt’s presence on the guestlist for the first time. Continue reading “German chancellor meets auto, battery bosses in ‘mobility’ summit”

Drive.Ahead, a vision of an innovative, sustainability-led future, unveiled by MG Motor India at Auto Expo 2023

Drive.Ahead, a vision of an innovative, sustainability-led future, unveiled by MG Motor India at Auto Expo 2023

  • Drive Ahead, the theme for MG this year reinforced in its futuristic and environmentally mindful technologies and vehicles
  • A total of 14 cars showcased as part of MG’s Drive. Ahead India vision

Greater Noida, January 11, 2023: MG Motor India today showcased its vision for future mobility, Drive.Ahead, at the Auto Expo 2023. The company unveiled a line-up of 14 production-ready vehicles from its portfolio that communicate the brand’s focus on sustainable, conscious, and innovative technology as part of MG’s vision in India. Continue reading “Drive.Ahead, a vision of an innovative, sustainability-led future, unveiled by MG Motor India at Auto Expo 2023”

India expected to become $7 trillion economy in seven years: CEA

India expected to become $7 trillion economy in seven years: CEA

Chief Economic Advisor V Anantha Nageswaran said on Monday that the Indian economy will be USD 3 trillion by the end of the current 2022-23 fiscal and is expected to be USD 7 trillion in the next seven years. The government had previously said India would become a USD 5 trillion economy by 2025

Speaking at a session organised by MCC, Nageswaran said virtually that the calendar year 2023 began in the context of the continuing conflict between Russia and Ukraine, which will “create geo-political and geo-economic uncertainties” Continue reading “India expected to become $7 trillion economy in seven years: CEA”

Spain’s ride-hailing Cabify plans IPO within 12-15 months -El Confidencial

Spain’s ride-hailing Cabify plans IPO within 12-15 months -El Confidencial

MADRID, Jan 10 (Reuters) – Spanish ride-hailing app Cabify plans to list its shares on the stock market within 12 to 15 months, local news website El Confidencial reported on Tuesday citing unidentified sources closed to the company’s management.

The company’s valuation would be close to 2 billion euros ($2.2 billion), El Confidencial added, citing other unidentified financial sources. Continue reading “Spain’s ride-hailing Cabify plans IPO within 12-15 months -El Confidencial”

Renault and PUNCH Torino join forces on low-emission diesel engines

Renault and PUNCH Torino join forces on low-emission diesel engines

PARIS, Jan 10 (Reuters) – Renault (RENA.PA) will team up with propulsion systems and electronics developper PUNCH Torino on 4-cylinder diesel engines for light commercial vehicles, the French carmaker said on Tuesday

PUNCH Torino will be able to purchase, use and sell the current and future Renault 4-cylinder Diesel engines, which will be produced at Renault’s Cleon plant in Normandy. Continue reading “Renault and PUNCH Torino join forces on low-emission diesel engines”

Volkswagen warns of unstable 2023 as full-year brand deliveries down 6.8%

Volkswagen warns of unstable 2023 as full-year brand deliveries down 6.8%

BERLIN, Jan 10 (Reuters) – Volkswagen (VOWG_p.DE) warned on Tuesday that ongoing chip shortages meant 2023 would remain volatile and challenging but expects supplies to improve, as it reported a 6.8% drop in sales by the brand to 4.56 million in 2022.

Order books in Europe, where the war in Ukraine has caused extensive supply chain problems, were up 18% from the same time to 640,000 vehicles, and the carmaker was working to deliver faster this year, it said in a statement. Continue reading “Volkswagen warns of unstable 2023 as full-year brand deliveries down 6.8%”

Amazon plans to shut three UK warehouses, impacting 1,200 jobs

Amazon plans to shut three UK warehouses, impacting 1,200 jobs

LONDON, Jan 10 (Reuters) – Amazon (AMZN.O) plans to shut three warehouses in Britain in a move that will impact 1,200 jobs, but workers will be given the chance to transfer to other units, the online retail giant said on Tuesday.

The company said it opened a consultation to close three older British warehouses this year in Hemel Hampstead, Doncaster and Gourock, sites employing 1,200 people in one of Amazon’s biggest markets outside the United States. Continue reading “Amazon plans to shut three UK warehouses, impacting 1,200 jobs”

China passenger vehicle sales rise in Dec, Tesla sales slump 41% – data

China passenger vehicle sales rise in Dec, Tesla sales slump 41% – data

SHANGHAI, Jan 10 (Reuters) – China’s passenger car sales rose 2.4% in December as consumers rushed to make use of a subsidy for electric vehicles (EV) before they expired last month, with sales likely to sharply weaken in January, an auto industry body said on Tuesday.

China’s decision to end a more than decade-long subsidy for EV purchases has forced automakers, including Tesla (TSLA.O), to deepen discounts to maintain sales, as demand eases in the world’s largest car market. Continue reading “China passenger vehicle sales rise in Dec, Tesla sales slump 41% – data”

Mercedes-Benz sells 2.05 million passenger cars in 2022

Mercedes-Benz sells 2.05 million passenger cars in 2022

BERLIN, Jan 10 (Reuters) – Mercedes-Benz (MBGn.DE) delivered 2.05 million passenger cars in 2022, the company said on Tuesday, down 1% on the previous year as the carmaker felt the impact of COVID-19 measures and bottlenecks.

Still, fourth-quarter sales rose 17% as logistics and supply chain bottlenecks eased, and battery-electric sales grew 124% over the course of the year to 117,800 units. Continue reading “Mercedes-Benz sells 2.05 million passenger cars in 2022”

BMW sales recover in fourth quarter as supply chain issues ease

BMW sales recover in fourth quarter as supply chain issues ease

BERLIN, Jan 10 (Reuters) – BMW (BMWG.DE) fourth-quarter group sales rose 10.6%, the carmaker said on Tuesday, helped by easing supply chain bottlenecks in a year that has been plagued by war in Ukraine and lockdowns in China.

Full-year deliveries were down 4.8%, with Europe and China hardest hit by supply chain troubles that curbed output, particularly in the first half of the year. Continue reading “BMW sales recover in fourth quarter as supply chain issues ease”

Bentley cruises to record sales in 2022 despite China drop

Bentley cruises to record sales in 2022 despite China drop

LONDON, Jan 10 (Reuters) – British luxury carmaker Bentley on Tuesday reported record vehicle sales for 2022, with strong demand offsetting a 9% drop in China caused by coronavirus-related lockdowns.

The Volkswagen (VOWG_p.DE) unit said it had sold 15,174 vehicles during 2022, up 4% from in 2021, which was itself a banner year for Bentley. Continue reading “Bentley cruises to record sales in 2022 despite China drop”