Oct 9 (Reuters) – Tesla Inc (TSLA.O) delivered 83,135 China-made electric vehicles (EVs) in September, smashing its monthly record, according to a report released on Sunday by the China Passenger Car Association (CPCA).

The number marks an 8% increase from August and set a record for Tesla’s Shanghai factory since production began in December 2019, topping the prior deliveries high of 78,906 in June, as the U.S. car maker continues to invest in production in China. Continue reading “Tesla’s China-made sales hit record following Shanghai factory upgrade”

Oct 8 (Reuters) – Nissan Motor Co Ltd (7201.T) is pressing French partner Renault SA (RENA.PA) to cut its stake in the Japanese automaker as much as possible, ideally to 15%, and may consider raising funds to buy back the shares, a source familiar with the matter said.

The demands were made in exchange for Nissan agreeing to invest in Renault’s new unit being set up to house its electric vehicle (EV) assets, said the source, who sought anonymity as the talks are not public. Continue reading “Nissan pushes partner Renault to sell down stake, may raise funds -source”

Oct 7 (Reuters) – Nissan Motor Co Ltd (7201.T) is pressing partner Renault SA (RENA.PA) to cut its stake in the Japanese automaker and revamp their more than 20-year-old alliance, the Wall Street Journal said on Friday, citing people with knowledge of the talks.

French car firm Renault owns about 43% of Nissan, while the Japanese firm owns 15% of its top shareholder, but without voting rights. Continue reading “Nissan presses partner Renault to sell down stake, Wall Street Journal reports”

Oct 7 (Reuters) – Rivian Automotive Inc (RIVN.O) said on Friday it will recall nearly all of its vehicles due to a possible issue of loose fastener that could make a driver lose steering control.

California-based Rivian is recalling about 13,000 vehicles after it discovered that a fastener connecting the front upper control arm and steering knuckle may not have been “sufficiently torqued” in some vehicles, a company spokesperson said in a statement. Continue reading “Rivian recalls 13,000 vehicles due to possible loose fastener”

WASHINGTON, Oct 7 (Reuters) – The U.S. auto safety agency said Friday it was closing an investigation it opened in 2017 into the safety of some Goodyear (GT.O) tires used on motor homes that have not been produced in nearly two decades.

Goodyear Tire & Rubber in June said it would recall 173,000 G159 tires size 275/70R22.5 tires used on recreational vehicles because of the potential for catastrophic tread separations. Continue reading “U.S. auto safety agency closes probe into Goodyear tires”

NEW DELHI, Oct 7 (Reuters) – India’s Hero MotoCorp (HROM.NS). the world’s biggest motorcycle maker by sales, launched its first electric scooter worldwide on Friday as it looks to catch up with newer businesses that have taken the lead in the shift to cleaner transport.

Like some other legacy automakers in India, Hero has been a laggard in launching electric two-wheelers, giving startups such as Ather Energy, which is backed by Tiger Global, and Softbank Group-backed Ola Electric a first-mover advantage. Continue reading “India’s top bikemaker Hero launches e-scooter to chase startups”

• Car makers propose tax cuts to 30% over a decade -sources
• India has some of the highest import taxes of 60%-100% on cars
• Govt wants companies to lower entry barriers -sources
• Companies fear it will set precedent for talks with EU -sources

NEW DELHI, Oct 7 (Reuters) – Indian car makers have proposed cutting to 30% the tax rate on imported cars as part of a trade deal with Britain, sources told Reuters, an unprecedented move that could ease access to one of the world’s most protected automobile markets.

Continue reading “Exclusive: Indian car makers propose tax cut on imports in trade deal with Britain”

BERLIN, Oct 7 (Reuters) – The European Union’s car market is on track to shrink this year, the European Automobile Manufacturers Association (ACEA) said on Friday, forecasting a 1% dip to 9.6 million units in a downward revision from an initial projection for a return to growth.

“Compared to the 2019 pre-pandemic figures, this represents a drop of 26% in car sales in the space of just three years,” the ACEA said in a statement, with reference to the updated forecast for 9.6 million units this year. Continue reading “European car market to contract 1% in 2022, ACEA forecasts”

TOKYO, Oct 6 (Reuters) – Toyota Motor Corp said it would restart production of its first electric vehicle, the bZ4X, on Thursday after fixing potential safety problems that had halted sales of the new battery-powered model for more than three months.

Japan’s largest automaker, a laggard in the EV market, recalled 2,700 bZ4Xs globally in June after discovering that there was a risk the car’s wheels could come loose. Continue reading “Toyota restarts output of first EV after fixing safety issues”

BERLIN, Oct 6 (Reuters) – Porsche took pole position as Europe’s most valuable automaker on Thursday, overtaking former parent Volkswagen (VOWG_p.DE) as the price of the sportscar maker’s newly-listed shares sped higher.

Although Porsche shares had fallen below its listing price on Monday to 81 euros, in line with a wider fall in markets, they rose to 93 euros ($91.95) earlier on Thursday, giving the sportscar brand a market valuation of 85 billion euros. Continue reading “Porsche overtakes Volkswagen as Europe’s most valuable carmaker”

TOKYO, Oct 6 (Reuters) – Toyota Motor Corp said it would restart production of its first electric vehicle, the bZ4X, on Thursday after fixing potential safety problems that had halted sales of the new battery-powered model for more than three months.

Japan’s largest automaker, a laggard in the EV market, recalled 2,700 bZ4Xs globally in June after discovering that there was a risk the car’s wheels could come loose. Continue reading “Toyota restarts output of first EV after fixing safety issues”

TOKYO, Oct 6 (Reuters) – Honda Motor Co (7267.T) said on Thursday it would reduce car output by up to 40% at two Japanese plants for the rest of October from its earlier plans, as the company battles with persistent supply chain and logistical problems.

Two lines at Honda’s Suzuka plant in western Japan will cut production by about 20% in October, while its assembly plant in Saitama prefecture, north of Tokyo, will lower production plans by about 40% for the month. Continue reading “Honda to cut car output at two Japanese plants in October”

WASHINGTON, Oct 5 (Reuters) – GM Financial, a unit of General Motors Co (GM.N), agreed to pay over $3.5 million to resolve allegations it violated a U.S. federal law that provides certain benefits and protections to eligible servicemembers, the Justice Department said.

GM Financial was accused of violating the Servicemembers Civil Relief Act by illegally repossessing 71 servicemembers’ vehicles and by improperly denying or mishandling over 1,000 vehicle lease termination requests, the Justice Department said in a statement on Wednesday. Continue reading “GM Financial to pay over $3.5 mln to resolve claims it violated U.S. law”

Oct 5 (Reuters) – Ford Motor Co is raising the price of its electric truck F-150 Lightning Pro for the 2023 year model by nearly 11%, seeking to cushion the hit from ongoing supply chain snags and decades-high inflation, a spokesperson for the automaker said on Wednesday.

The price of the new model has been set at $51,974 compared to $46,974 earlier, due to “ongoing supply chain constraints, rising material costs and other market factors,” the spokesperson said. Continue reading “Ford raises price of F-150 electric truck as inflation bites”

Oct 5 (Reuters) – Car haulers are pushing the Biden administration and lawmakers to increase truck weight limits on U.S. highways so they can transport more heavy electric vehicles, a move fiercely opposed by the rail industry and safety advocates who say the heavier loads are significantly more dangerous.

Even before a recent spike in EV sales, U.S. roads have been carrying heavier loads, as cars and trucks climbed from an average of 3,200 pounds (1,451 kilos) to 4,200 pounds over the last four decades, according to the Environmental Protection Agency. Continue reading “As EV sales grow, battle over U.S. road weight limits heats up”

Oct 5 (Reuters) – In a February meeting with mining executives, President Joe Biden laid out an aggressive goal for the United States to produce more of its own minerals for the electric vehicle revolution in ways that respected the environment.

A “big part” of those efforts, the president said, was Berkshire Hathaway Inc’s (BRKa.N) plan to filter lithium from superhot geothermal brines swirling beneath California’s Salton Sea, something that had never been done before. Continue reading “U.S. steps away from flagship lithium project with Berkshire”

KIDDERMINSTER, England, Oct 5 (Reuters) – Auto engine parts makers eyeing the promising electric-vehicle market are dealing with a severe case of delayed gratification.

Until EVs truly take off, engine parts makers face a perilous few years where they must invest heavily in new machinery, while struggling with falling sales of fossil-fuel cars. Continue reading “Engine parts makers must cross ‘valley of death’ to reach EV era”

SEOUL, Oct 5 (Reuters) – President Joe Biden has expressed willingness to continue talks with South Korea over recent U.S. legislation that denies subsidies to most foreign makers of electric vehicles (EVs), an official from Yoon’s office said on Wednesday.

Biden gave the assurance in a letter to South Korean President Yoon Suk-yeol, who had asked the U.S. president last month for help to allay Seoul’s concerns that the new U.S. rules would hurt South Korea’s automakers. Continue reading “Biden says U.S. willing to continue talks with S.Korea on EV subsidy”

KIDDERMINSTER, England, Oct 5 (Reuters) – Auto engine parts makers eyeing the promising electric-vehicle market are dealing with a severe case of delayed gratification.

Until EVs truly take off, engine parts makers face a perilous few years where they must invest heavily in new machinery, while struggling with falling sales of fossil-fuel cars. Continue reading “Engine parts makers must cross ‘valley of death’ to reach EV era”

Oct 5 (Reuters) – Demand for electric vehicles helped drive a 4.6% rise in Britain’s new car registrations in September, according to industry data released on Wednesday.

The Society of Motor Manufacturers and Traders (SMMT) said registrations during the month rose to 225,269 units from 215,312 units a year earlier, but still remained 34.4% below pre-pandemic levels. Continue reading “UK new car registrations up 4.6% in September on EV sales”

TAIPEI, Oct 5 (Reuters) – Shares in Taiwan’s Foxconn (2317.TW), the world’s largest contract electronics maker, rose 3% on Wednesday morning after the company said it was “cautiously optimistic” about its fourth-quarter revenue outlook.

Foxconn, a major Apple Inc (AAPL.O) supplier, also on Tuesday reported record-breaking September sales. Continue reading “Foxconn shares rise after offering cautiously optimistic Q4 outlook”

SAN FRANCISCO, Oct 4 (Reuters) – Tesla Inc (TSLA.O) said on Tuesday it will remove ultrasonic sensors from its vehicles starting this month, as it moves ahead with using only cameras in its safety and driver-assistant features.

Tesla vehicles now have 12 ultrasonic sensors on the front and rear bumpers, and short-range sound sensors are mainly used in parking applications and to detect close objects. Continue reading “Tesla will remove more vehicle sensors amid Autopilot scrutiny”

MUNICH, Oct 4 (Reuters) – German drivers should brace for higher auto insurance premiums next year, following three years of price declines, an industry executive told Reuters.

Higher insurance prices are the latest headache for drivers, who already must contend with soaring fuel costs, parts shortages and long waiting times for new vehicles. Annual inflation in Germany was 10.9% in September, the fastest pace in more than a quarter of a century. Continue reading “Drivers in Germany face higher insurance premiums, industry executive says”

MUNICH, Oct 4 (Reuters) – German drivers should brace for higher auto insurance premiums next year, following three years of price declines, an industry executive told Reuters.

Higher insurance prices are the latest headache for drivers, who already must contend with soaring fuel costs, parts shortages and long waiting times for new vehicles. Annual inflation in Germany was 10.9% in September, the fastest pace in more than a quarter of a century. Continue reading “Drivers in Germany face higher insurance premiums, industry executive says”

MOSCOW, Oct 4 (Reuters) – Russia’s AvtoVAZ (AVAZI_p.MM) recorded a 20.1% jump in sales of its flagship Lada cars in September compared to the same month last year, the company said in a statement on Tuesday.

Russia’s automobile industry has been hit hard by Western sanctions this year, with many factories suspending production for weeks as they scrambled to source new parts and re-establish supply chains, or adjust the specifications of their models. Continue reading “Russia’s AvtoVAZ: Lada sales up 20.1% year-on-year in September”

WASHINGTON, Oct 4 (Reuters) – A former Tesla (TSLA.O) senior executive and chief operating officer at ride hailing company Lyft (LYFT.O) is joining General Motors (GM.N) board of directors.

The largest U.S. automaker said in statement on Tuesday Jonathan McNeill, 55, the co-founder and CEO of venture firm DVx Ventures has joined its board. Continue reading “Former Tesla executive joins board of rival automaker GM”

BENGALURU, Oct 4 (Reuters) – Electric vehicle-maker Euler Motors said on Tuesday it had raised $60 million in its latest funding round, led by investment firm GIC Singapore, to shore up its manufacturing and supply chain.

The Indian startup did not disclose the valuation at which it raised the money in the Series C round, although it said its other investors included Blume Ventures, Athera Venture Partners, QRG Holdings, ADB Ventures and Moglix. Continue reading “India’s Euler Motors raises $60 million in GIC Singapore-led funding round”

LONDON, Oct 4 (Reuters) – The cost of making electric cars will reach parity with internal combustion cars by around 2025/26, the head of Envision Racing forecast on Tuesday, a step expected to accelerate the industry’s transition to cleaner, greener vehicles.

Sylvain Filippi, managing director of Envision Racing, said it would soon become more expensive to manufacture traditional cars than their electric counterparts, given the cost of manufacturing internal combustion vehicles is increasing. Continue reading “Envision sees cost of electric cars at parity by 2025-2026”

BERLIN, Oct 4 (Reuters) – Sixt (SIXG.DE) has committed to buying around 100,000 electric vehicles from China’s BYD (002594.SZ) in the coming years under a new partnership agreement signed by the two companies, the German car rental company said on Tuesday.

Under the first stage of the agreement, Sixt is to order several thousand all-electric vehicles from BYD, the first of which will be available to Sixt customers in Europe in the fourth quarter of 2022, the company said in a statement. Continue reading “Sixt agrees to purchase around 100,000 e-vehicles from China’s BYD”

Oct 3 (Reuters) – General Motors Co (GM.N) outsold Japanese automaker Toyota Motor Corp (7203.T) in the United States in the third quarter, data on Monday showed, but analysts and investors are fretting that a darkening economic picture will lead to a drop in car sales.

Thus far, a shortage of cars due to supply disruptions, combined with a preference for personal transport, has seen consumers willing to shell out more money, largely protecting profits at automakers and auto dealers who have pulled back on discounts. Continue reading “GM outsells Toyota in U.S. as industry braces for brakes on demand”

Oct 3 (Reuters) – Rivian Automotive Inc (RIVN.O) said on Monday it produced 7,363 vehicles at its manufacturing facility in Normal, Illinois and delivered 6,584 vehicles in the quarter ended Sept. 30.

The company also reiterated its full-year production target of 25,000 vehicles, sending shares up 9% in post-market trade. Continue reading “Rivian produces over 7,000 vehicles in third quarter, maintains full-year target”

MILAN, Oct 3 (Reuters) – Ferrari (RACE.MI) said on Monday some internal documents had been posted online and the luxury sports carmaker was working to identify how this had happened.

It will implement all the appropriate actions as needed, it said in an emailed statement. Continue reading “Ferrari says internal documents online, but no evidence of cyber attack”

MILAN, Oct 3 (Reuters) – Maserati, the luxury brand of carmaker Stellantis (STLA.MI), unveiled on Monday its new GranTurismo model ahead of an official launch scheduled next year for the brand’s first car available in a fully-electric version.

Maserati, which returned to an operating profit last year, has promised fully-electric – or so-called ‘folgore’ – versions of all its cars by 2025, as part of a wider turnaround plan. Continue reading “Maserati unveils the new GranTurismo, its first fully-electric model”

LONDON, Oct 3 (Reuters) – Shares in sports car brand Porsche (.P911_p.DE) fell below its listing price on Monday, the third day of trading since its $72 billion listing by parent company Volkswagen (VOWG_p.DE).

The closely watched initial public offering (IPO) was the largest listing in Germany in more than 25 years despite a backdrop of volatile global markets. Continue reading “Porsche shares fall below IPO pricing”

Oct 3 (Reuters) – France’s Faurecia (EPED.PA) said its project to develop a new generations of hydrogen tanks was granted 213 million euros ($209 million) of support from the European Commission as part of the Hydrogen IPCEI programme.

Faurecia’s “Historhy Next” project aims to develop new generations of hydrogen tanks, both gaseous and liquid, by the end of 2027, it said in a statement. Continue reading “Faurecia gets 213 million euros from the EU to develop hydrogen tanks”

Oct 3 (Reuters) – Major automakers are expected to report modest declines in U.S. new vehicle sales on Monday but analysts and investors are concerned that a darkening economic picture, not inventory shortages, will lead to a drop in future car sales.

Thus far, a shortage of cars due to supply disruptions, combined with a preference for personal transport, has seen consumers willing to shell out more money, largely protecting profits at automakers and auto dealers who have pulled back on discounts. Continue reading “Inflation to put U.S. auto industry in low gear”

Sept 30 (Reuters) – (This Sept. 30 story corrects previous closing day in second paragraph to Sept 29 from Sept 28 and also stake value to 66.6 mln pounds from 7.55 bln pounds)

Chinese automotive company Zhejiang Geely Holding Group said on Friday it bought a 7.6% stake in British luxury carmaker Aston Martin (AML.L), but did not disclose the deal value. Continue reading “China’s Zhejiang Geely buys 7.6% stake in Aston Martin”

Oct 3 (Reuters) – France’s Faurecia (EPED.PA) said its project to develop a new generations of hydrogen tanks was granted 213 million euros ($209 million) of support from the European Commission as part of the Hydrogen IPCEI programme.

Faurecia’s “Historhy Next” project aims to develop new generations of hydrogen tanks, both gaseous and liquid, by the end of 2027, it said in a statement. Continue reading “Faurecia gets 213 mln euros from the EU to develop hydrogen tanks”