(Reuters) – Rivian Automotive has applied for a federal loan to enable the construction of its electric vehicle factory in Georgia, according to a filing by the U.S. Department of Energy.
While Rivian has applied for a loan, the department has not made a final decision and the filing did not disclose the requested amount or terms. Continue reading “Rivian applies for federal loan to restart Georgia EV factory construction”
(Reuters) – The U.S. Securities and Exchange Commission is investigating Fisker and has sent multiple subpoenas to the bankrupt EV maker, according to a filing by the regulator on Friday.
Fisker filed for bankruptcy protection in June, after burning through cash in an attempt to ramp-up production of its Ocean SUVs. Continue reading “EV startup Fisker faces probe by US securities regulator”
WASHINGTON/DETROIT, (Reuters) – Chrysler parent Stellantis filed a federal lawsuit against the United Auto Workers, saying the union has violated its contract by threatening to strike over the company’s delays in planned investment.
The automaker filed the suit on Thursday asking the U.S. District Court in the Central District of California to declare the decision by UAW Local 230 in Los Angeles to take a strike authorization vote violates terms of the contract reached last fall. Continue reading “Stellantis sues UAW in US federal court over strike threats”
(Reuters) – A U.S. auto safety regulator said on Friday it was investigating 368,309 Ford crossover SUVs in the country over loss of braking caused by rear brake hose failure.
The preliminary evaluation covers some Ford Edge crossovers from model years 2015-2017, the National Highway Traffic Safety Administration said. Continue reading “US regulator opens probe into more than 360,000 Ford SUVs over loss of braking”
Summary
BRUSSELS, (Reuters) – The European Union will press ahead with hefty tariffs on China-made electric vehicles, the EU executive said on Friday, even after the bloc’s largest economy Germany rejected them, exposing a rift over its biggest trade row with Beijing in a decade. Continue reading “EU presses ahead with Chinese EV tariffs after divided vote”
Source : PTI | German luxury carmaker BMW Group on Friday said its BMW and MINI brands recorded a 10 % year-on-year increase in sales, at 10,556 units in India during the January-September period of 2024. The number of cars (BMW and MINI) sold in the nine months of 2023 was 9,580 units.
Besides, the group also sold 5,638 units of Motorrad brand of motorcycles, the group announced here on Friday. Continue reading “BMW, MINI record 10 % sales growth in Jan-Sept”
SAN FRANCISCO, (Reuters) – Alphabet’s Waymo will add electric vehicles from South Korea’s Hyundai Motor to its robotaxi fleet, the companies said on Friday, as Waymo expands in the United States.
On-road testing for IONIQ 5 SUVs – assembled at Hyundai’s Georgia facility and equipped with Waymo’s autonomous technology – will begin by late 2025, they said. Continue reading “Alphabet’s Waymo to expand robotaxi fleet with Hyundai EVs”
Summary
(Reuters) – Rivian slashed its full-year production forecast on Friday and missed third-quarter deliveries expectations due to a parts shortage and slowing growth in electric-vehicle demand, sending shares of the startup down nearly 9%. Continue reading “Rivian lowers annual production forecast due to parts shortage, shares drop”
ROME, (Reuters) – Stellantis said on Friday it backed free and fair competition, stable rules and policies supporting demand after EU member states voted in favour of tariffs on China-made electric vehicles.
In a statement, Stellantis said it took note of the vote. Continue reading “Stellantis, after EU vote on China EV tariffs, says stable rules ‘more important than ever’”
(Reuters) – China called on the European Union on Friday to delay implementing tariffs on Chinese-made electric vehicles and avoid escalating trade frictions, state media reported.
China’s Chamber of Commerce to the EU expressed in a statement strong dissatisfaction with the EU for promoting “trade protectionism” measures. Continue reading “China urges EU to delay implementing tariffs on China-made EVs, state media says”
Summary
FRANKFURT, (Reuters) – Germany’s top carmakers on Friday urged Brussels and Beijing to avert looming tariffs on imports of Chinese-made electric vehicles through a negotiated deal, highlighting fears over what an escalating trade conflict will mean for business.
Earlier, the European Commission received enough support from EU member states to implement tariffs in a long-awaited vote pitting China-dependant economies such as Germany against member states with less exposure. Continue reading “EU tariff vote on China EVs a ‘fatal signal’ for sector, German carmakers warn, urging compromise”
Gurugram, Haryana, India – Business Wire India
• Customers can book the Windsor for INR 11,000 at their nearest MG dealership or by visiting www.mgmotor.co.in
• Equipped with a host of industry and segment-first features, the Windsor EV starts at an attractive price of INR 9.99L + INR 3.5/km
• Deliveries commence from October 12, 2024
MG Windsor EV, India’s 1st Intelligent CUV, received a significant customer response minutes after the bookings commenced on Thursday, October 3, 2024, at 7:30 am.
MADRID, (Reuters) – The European Union should seek a compromise and negotiated outcome with China, Spain said on Thursday, on the eve of a crucial EU vote on electric vehicle (EV) tariffs.
Instead of imposing tariffs, the EU should “keep negotiations open … beyond the binding vote” to strike a deal on prices as well as the relocation of battery production to the bloc, Economy Minister Carlos Cuerpo said in a letter to the European Commission Vice President Valdis Dombrovskis seen by Reuters. Continue reading “Exclusive: Spain calls for compromise with China ahead of EU vote on EV tariffs”
FRANKFURT, (Reuters) – Germany on Friday will vote against the introduction of European Union tariffs on Chinese electric vehicles, people with knowledge of the matter told Reuters on Thursday.
Germany abstained in a first non-binding vote in July on the European Commission’s proposal to impose the tariffs, but since then industry has pressured German Chancellor Olaf Scholz to vote against the measure in Friday’s vote by European Union member states. Continue reading “Exclusive: Germany to vote against EU tariffs on Chinese electric vehicles, sources say”
BRUSSELS, (Reuters) – European Union members face a pivotal vote on Friday on whether to impose tariffs of up to 45% on imports of Chinese-made electric vehicles in the bloc’s highest profile trade case, which risks retaliation from Beijing.
The European Commission, which oversees the bloc’s trade policy, proposed final duties for the next five years to counter what it sees as unfair Chinese subsidies after a year-long anti-subsidy investigation. Continue reading “EU governments face pivotal vote on Chinese EV tariffs”
Source : PTI | New Delhi: Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, is expected to launch its much-awaited INR 25,000-crore initial share-sale for public subscription on October 14, people familiar with the development said on Thursday. This would be the largest initial public offering (IPO) in India after LIC’s initial share sale of INR 21,000 crore.
According to the Draft Red Herring Prospectus (DRHP) filed in June, Hyundai Motor India’s proposed IPO is entirely an Offer-for-Sale (OFS) of 142,194,700 equity shares by promoter Hyundai Motor Company, with no fresh issue component. Continue reading “Hyundai Motor India may launch its INR 25,000 cr IPO on Oct 14”
WAF THINK TANK
Working on Automotive Mission Plan 2047 to make India advanced industrial power: Official WAF
European automakers most at risk from US dockworkers strike, analysts say WAF Continue reading “WAF Auto News | The Auto World This Week (4th October 2024)”
Summary
BRUSSELS, (Reuters) – France, Greece, Italy and Poland will vote on Friday in favour of tariffs of up to 45% on imports of electric vehicles (EVs) made in China, sources said, enough to push through the European Union’s highest profile trade measures, risking potential retaliation from Beijing. Continue reading “EU has enough support to impose Chinese EV tariffs, sources say”
(Reuters) – Toyota Motor will postpone the start of electric-vehicle production in North America to the first half of 2026 due to design adjustment and slowing EV sales, the Nikkei business daily reported on Thursday.
The Japanese automaker recently told suppliers the start date for production of its first battery EV model at its factory in the U.S. state of Kentucky – a three-row SUV – will be delayed by several months, the Nikkei said. Continue reading “Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports”
Summary
(Reuters) – A self-driving Tesla carrying a passenger for Uber rammed into an SUV at an intersection in suburban Las Vegas in April, an accident that sparked new concerns that a growing stable of self-styled “robotaxis” is exploiting a regulatory gray area in U.S. cities, putting lives at risk. Continue reading “Uber and Lyft drivers use Teslas as makeshift robotaxis, raising safety concerns”
(Reuters) – Toyota Motor will postpone the start of electric-vehicle production in North America to the first half of 2026 due to design adjustment and slowing EV sales, the Nikkei business daily reported on Thursday.
The Japanese automaker recently told suppliers the start date for production of its first battery EV model at its factory in the U.S. state of Kentucky – a three-row SUV – will be delayed by several months, the Nikkei said. Continue reading “Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports”
Summary
Mumbai: Volkswagen India today launched the much-awaited Virtus GT Line and Virtus GT Plus Sport that personify customer aspirations in a cool new aesthetically enhanced avatar. The Brand has also introduced an enhanced feature package for the Taigun GT Line while reinvigorating the line structure with the introduction of a new Highline Plus variant for both India 2.0 car lines. Continue reading “Volkswagen India introduces the Virtus GT Plus Sportand GT Line; along with a refreshed line structure offering: “More for Less””
Summary
DETROIT, (Reuters) – General Motors will assure investors next Tuesday that there is no need to panic about decelerating demand for electric vehicles and the U.S. automaker could even improve its profits in 2025, according to two people familiar with the plans. Continue reading “GM seeks to ease shareholders’ nerves at investor day”
MILAN, (Reuters) – Automaker Stellantis’ output in Italy is set to drop below 500,000 vehicles this year from 751,000 in 2023, the FIM-CISL union said on Wednesday, citing persistently soft market demand, especially for electric vehicles.
The projection signals an output level well below the target that Stellantis, whose brands include Fiat and Alfa Romeo, is discussing with the Italian government, of one million vehicles – for both passenger cars and vans – by the end of this decade. Continue reading “Stellantis’ Italian output to drop below 500,000 units this year, union warns”
(Reuters) – Toyota Motor will postpone the start of electric-vehicle production in North America to the first half of 2026 due to design adjustment and slowing EV sales, the Nikkei business daily reported on Thursday.
The Japanese automaker recently told suppliers the start date for production of its first battery EV model at its factory in the U.S. state of Kentucky – a three-row SUV – will be delayed by several months, the Nikkei said. Continue reading “Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports”
(Reuters) – Tesla’s most affordable Model 3 compact sedan was no longer available for order in the U.S., according to the EV maker’s website on Wednesday.
The Model 3 Standard Range Rear-Wheel Drive, priced at $38,990, uses lithium iron phosphate (LFP) battery cells sourced from China. Continue reading “Tesla discontinues most affordable Model 3 variant in US, website shows”
Summary
BRUSSELS, (Reuters) – France, Greece, Italy and Poland will vote on Friday in favour of tariffs of up to 45% on imports of electric vehicles (EVs) made in China, sources said, enough to push through the European Union’s highest profile trade measures, risking potential retaliation from Beijing. Continue reading “EU has enough support to impose Chinese EV tariffs, sources say”
Source : PTI | Tata Steel-owned Port Talbot plant in South Wales hit a significant milestone on Monday when its Blast Furnace 4 ceased operations after over 100 years, marking an end of “legacy” steelmaking as the UK’s largest steelworks transitions towards greener steelmaking. Steelmaking at the site is now set to resume in 2027-2028 as part of a British government-backed investment programme of around GBP 1.25 billion in Electric Arc Furnace-based steelmaking, using UK-sourced scrap steel.
The Mumbai-headquartered steel giant said it is looking ahead to a “brighter, greener future” for the historic site and sustaining more than 5,000 jobs.
Continue reading “Tata Steel ends ‘legacy steelmaking’ at Britain’s largest steelworks”
Source : PTI | Maruti Suzuki, Hyundai and Tata Motors reported a decline in wholesales in September as the companies curtailed dispatches to dealers to reduce inventory build-up amid a decline in demand. Maruti Suzuki India reported a 4 % dip in total domestic passenger vehicle wholesales last month to 1,44,962 units compared to 1,50,812 units in the year-ago month.
The auto major said sales of mini segment cars, comprising Alto and S-Presso, grew marginally to 10,363 units against 10,351 units in September 2023.
Continue reading “Maruti, Hyundai, Tata Motors report decline in wholesales in Sep”
Source : PTI | New Delhi: Hero MotoCorp on Tuesday said its wholesales increased 19% year-on-year to 6,37,050 units in September. The two-wheeler major had dispatched 5,36,499 units to dealers in September 2023.
The company said its domestic sales rose to 6,16,706 units last month from 5,19,789 units in the year-ago period.
Exports rose to 20,344 units last month compared to 16,710 units in the same month last year. Continue reading “Hero MotoCorp sales rise 19% to 6,37,050 units in September”
Source : PTI | Ministry of Heavy Industries is working with auto industry associations SIAM and ACMA on Automotive Mission Plan 2047, which will pave the way for India to become an advanced industrial power, a top official said on Tuesday. Addressing an event to launch the PM E-DRIVE Scheme, Secretary in Ministry of Heavy Industries Kamran Rizvi said the PM E-BUS SEVA Payment Security Mechanism will also be rolled out shortly.
“PM E-DRIVE is not the terminal scheme. Another scheme of which we will hold the launch shortly is the PM E-BUS SEVA Payment Security Mechanism scheme,” the secretary said. Continue reading “Working on Automotive Mission Plan 2047 to make India advanced industrial power: Official”
Source : PTI | The Delhi government will provide a 10-20% tax rebate to buyers of new vehicles who opt to scrap their old ones, according to a statement issued on Wednesday. Chief Minister Atishi has approved the incentive scheme to promote scrapping of old vehicles and it will be notified soon, the statement said.
“The government will incentivise those who opt for the scrapping of their old vehicles, through rebate in motor-vehicle tax on buying new vehicles within three years,” said the Delhi government statement. Continue reading “Delhi CM Atishi okays incentive scheme to promote scrapping of old vehicles”
MUNICH, (Reuters) – A recovery in Chinese and German truck markets will not come quickly, Martin Daum, the outgoing CEO of the world’s biggest truck maker Daimler Truck told a press event late on Tuesday.
He said he did not expect a recovery in the Chinese truck market this year or next, adding that China was in a deep crisis, according to remarks published on Wednesday. Continue reading “Outgoing Daimler Truck CEO sees no recovery in China and Germany”
COPENHAGEN, (Reuters) – Volvo Cars’ sales rose by 1% year-on-year in September to 62,458 cars, the Sweden-based automaker said on Wednesday amid a volatile and uncertain market.
Volvo Cars, which is majority-owned by China’s Geely Holding, said in a statement that total sales in Europe, the biggest market for Volvo Cars, were up 23%, while sales in the United States and China fell by 22% and 16%, respectively. Continue reading “Volvo Cars reports slight sales increase amid market uncertainty”
Summary
STOCKHOLM, (Reuters) – Tesla has increased its market share in Sweden in 2024 despite a labour conflict targeting the company for almost a year, car sales data from the Nordic country showed on Tuesday. Continue reading “Tesla raises Sweden market share despite labour strike”
(Reuters) – Toyota Motor North America said on Tuesday it had built extra inventory of vehicles and parts ahead of the U.S. port strikes, which began earlier in the day.
Toyota, which relies on the U.S. East Coast and Gulf Coast ports to import everything from vehicle components to fully-built cars, said it was closely monitoring the situation. Continue reading “Toyota says built extra stock in anticipation of US port strikes”
BERLIN, Germany, (Reuters) – The criminal trial of former Volkswagen Chief Executive Martin Winterkorn over the so-called dieselgate scandal has been suspended due to his poor health, a court in Braunschweig said on Tuesday.
All hearings have been cancelled because Winterkorn, who was toppled from the helm of the company in 2015 after it emerged that millions of Volkswagen cars had been manipulated to pass environmental standards, will not be fit to attend in the coming months, the court said. Continue reading “Dieselgate trial of former VW chief suspended due to ailing health”
Summary
DETROIT/WASHINGTON, (Reuters) – European automakers are the most likely to be affected by the dockworkers strike at U.S. East Coast and Gulf Coast ports because they rely heavily on those locations, but a longer walkout could prove “debilitating” to the entire sector, industry officials and analysts said. Continue reading “European automakers most at risk from US dockworkers strike, analysts say”
WASHINGTON, (Reuters) – About 20 Democrats in the U.S. Congress on Tuesday urged Mexican President-elect Claudia Sheinbaum to address national security concerns posed by internet-connected vehicles produced by Chinese automakers in Mexico.
All modern cars and trucks have onboard network hardware providing internet access that allows them to share data with devices both inside and outside the vehicle. Continue reading “US lawmakers ask Mexican president-elect to address Chinese vehicle concerns”
(Reuters) – Top U.S. automakers reported a fall in their third-quarter sales on Tuesday, hurt by fewer selling days and weaker consumer spending amid inflationary challenges and higher interest rates.
Carmakers have relied on crossovers and pickup trucks for years to drive the bulk of their sales, but that growth is starting to sputter as customers work with tighter budgets because of economic uncertainties. Continue reading “US new vehicle sales fall in Q3 on fewer selling days, inflationary headwinds”
