Nov 1 (Reuters) – Twitter Inc will charge $8 a month for its Blue service, which includes its sought-after “verified” badge, new boss Elon Musk said on Tuesday as he seeks to boost subscriptions and make the social media network less reliant on ads.

“Twitter’s current lords & peasants system for who has or doesn’t have a blue checkmark is bullshit. Power to the people! Blue for $8/month,” Musk said in a tweet, adding that the price will be adjusted by “country proportionate to purchasing power parity.” Continue reading “Musk says Twitter will charge $8/month for blue check mark”

BERLIN, Nov 1 (Reuters) – Volkswagen (VOWG_p.DE) said on Tuesday it would sell its carsharing service WeShare to Miles Mobility, under a deal that sees the Berlin-based competitor order more than 10,000 electric cars from the Audi, Seat/Cupra and VW brands.

Volkswagen said it would not disclose the selling price as per the agreement. Continue reading “Volkswagen sells WeShare to Berlin-based carsharing service”

Nov 1 (Reuters) – Uber Technologies Inc (UBER.N) on Tuesday forecast fourth-quarter operating profit above Wall Street estimates, betting on cost controls and rising demand for its rides as customers resume spending more on travel, sending its shares up 13%.

With cities reopening and travel booming, consumers are shifting their budgets to services, Chief Executive Dara Khosrowshahi said, compared to the two years of COVID-led lockdowns when they had limited spending to basic needs. Continue reading “Uber shares surge on solid profit forecast as rideshare recovery defies inflation”

Nov 1 (Reuters) – Elon Musk has championed Tesla Inc’s (TSLA.O) driver assistance Autopilot and “Full Self-Driving” software as innovations that will both improve road safety and position the electric vehicle maker as a technology leader.

But the Tesla systems – and Musk’s claims about them – face their biggest challenge since the launch of Autopilot in 2015 as a series of lawsuits and a criminal case over fatal Tesla accidents head to court. Continue reading “Factbox: Tesla’s Autopilot faces unprecedented scrutiny”

Source : PTI | New Delhi: Auto components maker Minda Corporation on Monday said it has collaborated with South Korean firm Daesung Eltec to bring next generation advanced driver assistance system solutions to India. The two companies signed a technology licence and assistance agreement on October 28, 2022, Minda Corporation said in a statement.

Through the collaboration, the partners will offer advanced driver assistance system (ADAS) for passenger, commercial and off-road vehicles segment. Continue reading “Minda Corporation ties up with South Korea’s Daesung Eltec for ADAS technology”

Source : PTI New Delhi: The Indian passenger vehicles segment is expected to touch record sales this fiscal and follow it up in 2023-24 with an 8 per cent growth, Maruti Suzuki India Ltd Chairman R C Bhargava said on Friday. In a virtual press conference on the company’s second-quarter earnings, Bhargava said several factors such as easing of semiconductor shortage, restoration of supply chain after the disruption by COVID-19 pandemic besides a better economic growth prospect in India are propelling automobile sales although small cars sales are gradually declining. Continue reading “Maruti chairman expects record PV sales for auto industry this fiscal, 8% growth in FY24”

Source : PTI  In a bid to bring down air pollution, the West Bengal government is set to launch nearly 1,200 electric buses in Kolkata over the next two years, of which 400 will be operational by January 2023, a senior transport official said.

The transport department is also working to introduce CNG-run buses in the northern and western parts of the state, he said. Continue reading “Bengal to launch more electric, CNG buses to reduce air pollution”

Source : PTI Its steel works, tubes division and cold rolling mill (Bara) in Jamshedpur have joined an exclusive group of steel producing sites around the world to receive the certification.

Three production facilities of Tata Steel Monday received the ResponsibleSteel certification placing the country in the global decarborisation and sustainability map, officials said. The Tata Steel site is the first to be certified and receive the
first ResponsibleSteel certification in India, they said. Continue reading “Tata Steel in global decarbonisation and sustainability map”

• Q2 profit 562.7 bln yen vs 772.2 bln yen forecast
• Cuts FY production target to 9.2 mln units from 9.7 mln
• Unclear when chip shortage will end – executive
• Results ‘very unimpressive’ considering positive factors -analyst
• Shares end down 1.9%, Nikkei benchmark up 0.3%

Continue reading “Toyota cuts output target amid chip crunch as profit tumbles 25%”

MEXICO CITY, Oct 31 (Reuters) – U.S. automaker Ford Motor Co (F.N) opened its new global technology and business center on the outskirts of Mexico’s capital on Monday after a $260 million investment.

The new campus will host business operations, global transformation activities and the largest engineering center in Mexico, according to a video shared by the company’s Twitter account. Continue reading “U.S. automaker Ford opens $260 million campus in Mexico”

Oct 31 (Reuters) – The United Auto Workers on Monday said it was seeking an election to represent workers at a General Motors (GM.N)/LG Energy (373220.KS) battery cell manufacturing joint venture in Ohio after the companies refused to recognize the union.

The UAW said it had filed a petition with the National Labor Relations Board (NLRB) on behalf of approximately 900 workers at Ultium Cells after a majority of workers had signed cards authorizing the union to represent them. Continue reading “UAW seeks election to represent GM battery joint venture workers”

Oct 31 (Reuters) – A fragile supply chain marred by geopolitical tensions could hit the planned expansion of electric vehicle (EV) battery production, slowing EV adoption, S&P Global Mobility warned in a report on Monday.

The auto industry information provider said original equipment manufacturers’ battery-electric and hybrid vehicle sales aspirations will face strong headwinds as they scramble for raw materials, with annual market demand for lithium-ion batteries pegged at about 3.4 Terawatt hours (TWh) by 2030. Continue reading “EV battery production faces supply chain, geopolitical headwinds – report”

PARIS, Oct 31 (Reuters) – Elon Musk has assured the European Commission that Twitter will abide by tough European rules on illegal online content policing now that the social network has passed under his ownership, European Union sources said on Monday.

In a previously unreported exchange last week, Musk told Thierry Breton, the EU’s industry chief, that he planned to comply with the region’s Digital Services Act, which levies hefty fines on companies if they do not control illegal content. Continue reading “Exclusive: Elon Musk reached out to EU industry chief to pledge content policing compliance”

Oct 31 (Reuters) – Electric vehicle maker Nikola Corp (NKLA.O) said on Monday it was working with KeyState Natural Gas Synthesis to create Pennsylvania state’s first low-carbon hydrogen production supply chain.

However, Nikola said it was working on a definitive agreement with the hydrogen producer to expand supply for Nikola’s fuel-cell electric vehicles. Continue reading “Nikola, KeyState to collaborate on hydrogen supply”

TOKYO, Oct 31 (Reuters) – Japan’s Panasonic Holdings Corp (6752.T) said on Monday it will start building a new battery plant in Kansas in November and aims to begin mass production by March 2025, targeting North America’s fast-growing market for electric vehicles.

The conglomerate’s energy unit said in July it had picked Kansas as the site for a new plant to supply batteries primarily to Tesla Inc (TSLA.O), joining other battery producers planning massive U.S. investments to qualify for new EV tax credit rules and to tap that market’s potentially massive demand. Continue reading “Panasonic to start building Kansas battery plant next month”

TOKYO, Oct 31 (Reuters) – Toyota Motor Corp (7203.T) is expected to report a small quarterly profit increase on Tuesday, with soaring costs of parts and materials nearly offsetting the benefits from the plunging Japanese yen and a rebound in production.

The world’s biggest automaker by sales said last week its global production rebounded by 30% in the quarter that ended in September, but warned shortages of semiconductors and other components would continue to constrain output in coming months. Continue reading “Toyota profit to rise but eyes will be on its shaky supply chain, EV strategy”

Oct 31 (Reuters) – The venture between Stellantis (STLA.MI) and Guangzhou Automobile Group Co (GAC) producing Jeep vehicles in China will file for bankruptcy, the companies said on Monday, after a lengthy decline for the oldest foreign auto brand in the world’s largest market.

Stellantis said in a statement it had fully impaired the value of its investment in the joint venture in its results for the first half of 2022. It also said it would continue to provide service to Jeep customers in China. Continue reading “Stellantis Jeep joint venture in China to file for bankruptcy”

BERLIN, Oct 30 (Reuters) – German carmaker Audi is in favour of offering employees one-off tax-free payments instead of permanent wage increases, its human resources director said, as unions across Europe’s biggest economy demand higher wages in light of rising inflation.

Workers’ purchasing power in Germany has already taken a hit, with consumer price inflation at 11.6% in October. Employers, however, do not see much scope for wage increases due to the rising costs of material and energy. Continue reading “Audi supports one-off staff payments over permanent wage hikes”

BEIJING, Oct 30 (Reuters) – Beyonca, a start-up founded by a group of former Volkswagen executives, plans to take on the likes of Audi and BMW in China from next year with a new premium electric vehicle, betting that features such as health monitoring will appeal to buyers.

Led by current Renault China CEO Soh Weiming and backed by Renault (RENA.PA) and Dongfeng Motor (0489.HK), two-year-old Beyonca plans to unveil its first production car in the first quarter of next year with deliveries from 2024, Soh told Reuters. Continue reading “Renault-backed Beyonca EV venture touts health monitoring, targets Audi in China”

Oct 28 (Reuters) – General Motors Co (GM.N) said late on Friday it had temporarily halted paid advertising on Twitter after Elon Musk completed his takeover of the social media company.

The largest U.S. automaker said it was “engaging with Twitter to understand the direction of the platform under their new ownership.” Continue reading “GM temporarily halts paid advertising on Twitter”

Oct 28 (Reuters) – As the dust settles on Elon Musk’s $44 billion buyout of Twitter, analysts and investors are debating one crucial question – has the billionaire entrepreneur behind Tesla and SpaceX bitten off more than he can chew?

Musk, who also runs brain-chip startup Neuralink and tunneling firm the Boring company, is expected to become interim chief of Twitter, according to a person familiar with the matter, after he fired CEO Parag Agarwal and other top company officials. Continue reading “Wall Street asks if Musk can manage Twitter, Tesla and more”

Oct 28 (Reuters) – Chrysler parent company Stellantis NV (STLA.MI) said Friday it has offered voluntary buyouts to some of its 13,000 U.S. salaried employees.

Salaried workers age 55 or older who have been with the automaker at least 10 years are eligible. Continue reading “Chrysler parent Stellantis offering U.S. salaried buyouts”

• Profits jump 41% on 15.7% revenue rise in first 9M
• Maintains outlook, cites supply chain risks ahead
• Pricing power will boost 2023 profits – CFO

Continue reading “Porsche sees strong 2023 as nine-month profits soar”

SHANGHAI, Oct 28 (Reuters) – China’s biggest electric vehicle (EV) maker BYD (002594.SZ) said its third-quarter net profit jumped 350% from a year ago, helped by a wider range of product offerings and strong sales that saw it beat Tesla (TSLA.O) in the world’s largest auto market.

BYD’s net profit for the July-September quarter reached 5.72 billion yuan ($788.75 million), while that for the first nine months increased 281% to 9.31 billion yuan, the company said in a stock exchange filing on Friday. Continue reading “BYD posts 350% jump in Q3 net profit on sales surge”

BERLIN, Oct 28 (Reuters) – Volkswagen’s (VOWG_p.DE) chief executive warned on Friday that supply chain problems were now the rule and not the exception, with the carmaker sitting on 150,000 unfinished vehicles because of lacking parts.

Volkswagen has set up a separate unit to evaluate threats to supply security, gathering data from across the supply chain to forecast shortages, Oliver Blume said on an analysts’ call. Continue reading “Volkswagen: Supply chain problems now the rule, not exception”

MEXICO CITY, Oct 27 (Reuters) – Auto manufacturing companies Volkswagen and Continental both pledged major investments in Mexico on Thursday totaling nearly $1 billion, one of the biggest sums for the sector to be announced in a single day during the current government.

Volkswagen (VOWG_p.DE) said it will invest $763.5 million between 2022 and 2025 at its complex in the central state of Puebla, one of Volkswagen’s largest facilities globally, to build a new paint plant and start production of a new gasoline-powered car. Continue reading “Volkswagen, Continental announce nearly $1 bln in Mexico investments”

MEXICO CITY, Oct 27 (Reuters) – The U.S. Trade Representative has declined to file a complaint with Mexico over alleged worker rights abuses at a Saint-Gobain (SGOB.PA) glass plant, saying on Thursday that the factory’s situation improved after workers elected an independent union.

The biggest U.S. labor federation last month asked the U.S. government to open a complaint, the latest in a series of petitions under the United States-Mexico-Canada Agreement (USMCA) trade pact alleging rights violations in Mexico. Continue reading “U.S. declines labor probe at Saint-Gobain in Mexico, applauds new union win”

NEW YORK, Oct 27 (Reuters) – A federal jury in Detroit ordered Ford Motor Co (F.N) to pay Versata Software Inc $104.6 million in damages for breaching a 2004 licensing contract and misappropriating trade secrets.

Jurors deliberated over two days before holding Ford liable on Wednesday, following a 15-day trial. Continue reading “Jury orders Ford to pay software company $105 mln in trade secrets case”

Oct 27 (Reuters) – French car parts maker Valeo (VLOF.PA) on Thursday said it was confident in its ability to reach its full-year guidance, as it posted third-quarter sales slightly above expectations.

The group, which specialises in the design, production and sale of components and services for the automotive sector, confirmed its guidance for 2022 based on estimates from S&P Global Mobility, which tracks data and predicts automotive production. Continue reading “Car parts maker Valeo confident of reaching full-year targets”

Oct 27 (Reuters) – Tesla Inc’s (TSLA.O) Model Y topped new vehicle registrations in Europe last month, market research data showed, indicating that the mid-sized SUV from the world’s most valuable automaker is fast-becoming a vehicle of choice in the region.

This is the first time that Tesla’s sports utility vehicle has led the rankings in Europe, London-based JATO Dynamics said on Wednesday as 29,367 Model Y cars were registered last month, up 227% from last year. Continue reading “Tesla’s Model Y tops new car registrations in Europe in September – report”

TOKYO, Oct 27 (Reuters) – Japan’s Nissan Motor Co is considering investing up to a 15% stake in Renault SA’s planned electric vehicle (EV) unit, Kyodo news agency reported on Thursday, as the two companies negotiate an overhaul of their decades-old partnership.

The Japanese and French automakers said this month they were in talks about the future of their alliance, including Nissan potentially investing in the electric vehicle business being spun out of Renault. Continue reading “Nissan mulls taking up to 15% stake in Renault’s planned EV unit – report”

BERLIN, Oct 27 (Reuters) – Volkswagen (VOWG_p.DE) plans to expand its cooperation with Intel’s Mobileye (MBLY.O) to include its automated driving program after Wednesday’s decision to no longer invest in self-driving startup Argo AI, two sources familiar with the plan told Reuters on Thursday.

Mobileye, which develops autonomous driving technologies, already cooperates with VW’s software unit Cariad. Continue reading “Volkswagen to work with Mobileye on automated driving after Argo exit – sources”

TOKYO, Oct 27 (Reuters) – Toyota Motor Corp’s truck and bus unit Hino Motors (7205.T) on Thursday forecast a 6 billion yen operating profit for the fiscal year ending in March 2023, confounding analysts’ forecasts for a loss due to an engine data scandal.

However, it did not disclose operating income and net profit forecasts for the year, as it was unable to “reasonably” calculate losses attributed to the engine data scandal. Continue reading “Toyota unit Hino expects FY23 operating profit despite engine data scandal”

TOKYO, Oct 27 (Reuters) – Toyota Motor Corp has discovered that even keys can be too “smart” for their own good.

The world’s top-selling carmaker said on Thursday it would replace one of the two electronic “smart” keys it delivers in Japan with a mechanical one for the time being as it races to get cars to customers in Japan. Continue reading “Down on chips, Toyota goes back to basics with car keys”

Oct 27 (Reuters) – Volvo Cars (VOLCARb.ST) expects lower wholesale volumes this year after higher costs brought a fall in third-quarter operating profit, the Swedish automaker said on Thursday, prompting its share price to drop 6%.

While manufacturing output continued to improve in the quarter, the pace of normalisation was slowed by power outages and lockdowns in China related to COVID-19, it said. Continue reading “Volvo Cars’ quarterly operating profit falls as higher costs bite”

BERLIN, Oct 26 (Reuters) – Daimler Truck (DTGGe.DE) on Wednesday slightly raised its full-year earnings forecast after reporting better-than-expected results in the third quarter thanks to a jump in unit sales, higher prices and strong aftersales business.

Daimler Truck now expects full-year group revenue between 50 billion – 52 billion euros ($50.40 billion – $52.42 billion), up from a previous forecast of 48 billion – 50 billion. Continue reading “Daimler Truck raises FY outlook on stronger than expected Q3”

Oct 26 – Tesla Inc (TSLA.O) is under criminal investigation in the United States over claims that the company’s electric vehicles can drive themselves, three people familiar with the matter said.

The U.S. Department of Justice launched the previously undisclosed probe last year following more than a dozen crashes, some of them fatal, involving Tesla’s driver assistance system Autopilot, which was activated during the accidents, the people said. Continue reading “Exclusive: Tesla faces U.S. criminal probe over self-driving claims”

DETROIT, Oct 26 (Reuters) – The road map to fully self-driving vehicles is being rewritten once again, this time by Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE).

When the two automakers joined forces in July 2019 to share control of self-driving startup Argo AI, it shook up the landscape among other key players. Continue reading “Analysis: Ford, VW pop the automated-vehicle bubble with Argo AI exit”

Oct 26 (Reuters) – Electric vehicle startup Faraday Future Intelligent Electric Inc (FFIE.O) on Wednesday named Yun Han as its interim finance chief and accounting head, replacing Becky Roof who resigned earlier this month.

Han was previously chief accounting officer at battery technology firm Romeo Power Inc . Continue reading “Faraday Future names ex-Romeo Power executive as interim finance chief”

DETROIT, Oct 26 (Reuters) – Ford Motor Co (F.N) on Wednesday reported a third-quarter net loss driven by its decision to shift spending from the Argo AI self-driving business.

Ford’s move, a sharp contrast with rival General Motors Co’s (GM.N) decision to double down on investments in its Cruise robotaxi unit, highlights the pressure on automakers to make hard choices as the financial demands of shifting to electric vehicles continue to rise. Continue reading “Ford posts loss, takes sharp turn away from automated driving”