SEOUL, Oct 5 (Reuters) – The global auto industry’s shift to electric vehicles (EVs) has spurred an expansion race among battery makers, and caused a growing a skills shortage. See main story:

Global sales of EVs, estimated at 2.5 million vehicles in 2020, is forecast to grow more than 12-fold to 31.1 million by 2030 and account for nearly a third of new vehicle sales, according to consulting firm Deloitte.

Continue reading “Factbox: Electric-vehicle batteries: major players and their expansion plans”

WASHINGTON, Oct 4 (Reuters) – General Motors Co (GM.N) and Ford Motor Co (F.N) have agreed to settle a legal battle over the latter’s use of the name “BlueCruise” to market its hands-free driving technology.

In a notice filed in court late on Friday, the two automakers said they are in the “process of settling all claims and counterclaims at issue.” A judge agreed to dismiss the suit on condition the automakers finalize a settlement within 60 days. No details were released.

Continue reading “GM, Ford to settle suit over use of ‘BlueCruise’ name for hands-free driving”

NEW DELHI, Oct 4 (Reuters) – India is framing policies to promote the use of clean fuels, including electric vehicles (EVs), and tightening emission norms to meet its carbon reduction targets, transport minister Nitin Gadkari told the Reuters Impact conference on Monday.

India is the third-largest user of transport automobiles in the world but 70% of its transport energy need is fulfilled by importing fossil fuels.

Continue reading “India targets alternate fuels, EVs in clean transport push”

CAPE TOWN, Oct 5 (Reuters) – South Africa’s biggest metalworkers union on Tuesday launched an indefinite strike, seeking pay rises and threatening to block supplies of parts to make new cars and accessories, industry and union officials said.

With around 155,000 members organised in the sector, the National Union of Metalworkers of South Africa (NUMSA) has called for a total shutdown of the engineering industry after wage talks with employer bodies reached a deadlock and arbitration failed.

Continue reading “South African union starts indefinite strike, auto industry fears impact”

Oct 5 (Reuters) – Hertz Corp (HERTZ.UL) has named former Ford Motor Co (F.N) Chief Executive Mark Fields as its interim CEO, the rental car company said on Tuesday.

Fields succeeded Alan Mulally as president and CEO of the No. 2 U.S. automaker in 2014. He was ousted in 2017 and replaced by Jim Hackett.

Continue reading “Hertz tabs former Ford Chief Executive Mark Fields as interim CEO”

SEOUL, Oct 5 (Reuters) – The South Korean battery giants powering many of the world’s electric vehicles face a skills shortage that could drag on the global race towards zero-emissions transport.

The country’s three major players, which command a third of the global electric vehicle (EV) battery market, told Reuters they were all grappling with a shortage of research and engineering specialists as demand for the technology balloons.

Continue reading “Battery giants face skills gap that could jam electric highway”

Oct 4 (Reuters) – Hedge fund Engine No. 1 on Monday formally announced it has taken a stake in General Motors Co (GM.N) and was supportive of its transition to battery electric vehicles, sending the shares of the No. 1 U.S. automaker up 3.2%.

The position of support for GM was in contrast to the hedge fund’s against-the-odds challenge against Exxon Mobile Corp (XOM.N) earlier this year that enabled it to land three board seats. Engine No. 1 had criticized the energy giant’s track record and targets on reducing its carbon footprint. read more

Continue reading “Engine No. 1 backs GM’s strategy around transition to EVs”

WILMINGTON, Del., Oct 4 (Reuters) – A Delaware judge should order Elon Musk to repay $9.4 billion to Tesla Inc (TSLA.O) for the benefits he received by pushing the electric vehicle maker in 2016 to buy an ailing solar company he partly owned, according to Tesla investors in a court filing late Friday.

The investors said a “simple and practical” way to undo the benefits they say Musk improperly received from the $2.6 billion deal for SolarCity would be to order the chief executive to return the Tesla shares he received for his stock in the rooftop solar company.

Continue reading “Investors argue Musk should repay $9.4 bln to Tesla for SolarCity deal”

WASHINGTON, Oct 4 (Reuters) – General Motors Co (GM.N) and Ford Motor Co (F.N) have agreed to settle a legal battle over the latter’s use of the name “BlueCruise” to market its hands-free driving technology.

In a notice filed in court late on Friday, the two automakers said they are in the “process of settling all claims and counterclaims at issue.” A judge agreed to dismiss the suit on condition the automakers finalize a settlement within 60 days. No details were released.

Continue reading “GM, Ford to settle suit over use of ‘BlueCruise’ name for hands-free driving”

BARCELONA, Oct 1 (Reuters) – Spanish authorities and Nissan (7201.T) will enter talks with China’s Great Wall Motor (601633.SS) over a possible takeover of the Japanese carmaker’s plant in Barcelona, which is due to shut in December, they said on Friday.

National and regional authorities, together with Nissan, also picked Spanish electric motorcycle manufacturer Silence and local engineering firm QEV Technologies – which leads an electric vehicle production hub integrated by Swedish manufacturers Inzile and Volta – to negotiate the fate of two smaller plants.

Continue reading “Spain to negotiate with China’s Great Wall Motor to take over Nissan plant”

BERLIN, Sept 30 (Reuters) – BMW AG (BMWG.DE) lifted its annual profit margin forecast to between 9.5% and 10.5% from 7% to 9%, the company said in an ad hoc statement on Thursday, as higher prices for new and used vehicles outweigh the effect of supply-chain issues.

The carmaker also boosted its forecast for return on equity in its financial services segment to 20%-23% from 17%-20% and said it expects free cash flow in its automobile segment of approximately 6.5 billion euros.

Continue reading “BMW lifts annual profit forecast to 9.5%-10.5% as high prices cushion chip troubles”

Oct 1 (Reuters) – Rivian Automotive, backed by Amazon.com Inc (AMZN.O) and Ford (F.N), disclosed losses of nearly $1 billion in the first half of the year, the electric-vehicle maker’s U.S. IPO filing showed on Friday.

The company has been investing aggressively in ramping up production of its electric vehicles, including its upscale all-electric R1T pickup truck which was launched last month beating out competition from more established rivals, such as Tesla Inc (TSLA.O), General Motors (GM.N) and Ford.

Continue reading “Business Amazon-backed EV maker Rivian discloses nearly $1 bln losses in IPO filing”

WASHINGTON, Oct 1 (Reuters) – The U.S. Transportation Department said 3,700 employees had been temporarily furloughed after Congress failed to reauthorize surface transportation programs before a deadline that expired early on Friday.

A department spokesperson said the agency is “taking every step we can to mitigate the impacts of this temporary lapse in authorization” of the Highway Trust Fund.

Continue reading “U.S. Transportation Department furloughs 3,700 employees”

DETROIT, Oct 1 (Reuters) – General Motors Co (GM.N) plans to position itself as a technology platform company that is as focused on software as it is on making electric vehicles when it meets with investors next week, including revealing a scheduled rollout for at least 20 EVs in the United States over the next several years.

The No. 1 U.S. automaker has said it will talk on Wednesday about its growth strategy, EV and software platform advantages, its self-driving vehicle business and the related financial road map as it seeks to draw new investors and a valuation closer to that of EV market leader Tesla Inc (TSLA.O). A spokesman declined to disclose further details.

Continue reading “EXCLUSIVE GM aims to profit from software as it broadens its EV lineup”

WASHINGTON, Oct 1 (Reuters) – Japanese automaker Toyota Motor Corp (7203.T) outsold General Motors Co (GM.N) in the United States for the first nine months of 2021 as the Detroit automaker grappled with production problems stemming from the semiconductor chip shortage.

Toyota during the first nine months sold 1.86 million vehicles compared with GM’s 1.78 million, or just over 80,000 more vehicles, data released on Friday showed.

GM has been the largest seller of vehicles in the United States since 1931, when it surpassed Ford Motor Co (F.N), according to data from industry publication Automotive News.

Continue reading “Toyota outsells GM in U.S. for first nine months of 2021”

BERLIN, Oct 2 (Reuters) – The head of Volkswagen’s (VOWG_p.DE) works council wants the carmaker to bring forward production of electric vehicles at its main plant in Wolfsburg to 2024 make it more competitive, a newspaper reported on Saturday.

The Braunschweiger Zeitung quoted works council chief Daniela Cavallo as saying a global chip shortage and the COVID-19 pandemic were reducing output at the plant this year and it needed to make a new model to secure its competitiveness.

Continue reading “VW labour boss wants faster electric car rollout at Wolfsburg – Braunschweiger Zeitung”

Oct 2 (Reuters) – Tesla Inc (TSLA.O) said on Saturday it had delivered a record electric cars in the third quarter, beating Wall Street estimates after Chief Executive Elon Musk asked staff to “go super hardcore” to make a quarter-end delivery push.

Tesla has weathered the chip crisis better than rivals, with its overall deliveries surging 20% in the July to September period from its previous record in the second quarter, marking the sixth consecutive quarter-on-quarter gains. .

In China, rising exports to Europe and the introduction of a cheaper Model Y helped boost Tesla’s production, analysts said.

Continue reading “Tesla vehicle deliveries hit another record in Q3, beats analysts’ estimates”

Tata Motors PV business posted nearly a decade high quarterly sales of 83,933 units, registering a strong growth of 53% versus Q2FY21. This growth has come on the back of demand recovery in the industry post the Covid second wave and a strong response to its ‘New Forever’ range of cars and SUVs.

Continue reading “Tata Motors PV business posted nearly a decade-high quarterly sales of 83,933 units!”

SAN FRANCISCO, Sept 30 (Reuters) – General Motors Co’s (GM.N) Cruise and Alphabet Inc’s (GOOGL.O) Waymo self-driving car subsidiaries on Thursday became the first companies to receive autonomous vehicle permits to offer rides to passengers in California.

Cruise has obtained a permit from the California Department of Motor Vehicles to offer driverless rides to passengers at night in some parts of San Francisco, and Waymo has won a permit from the regulator to deploy autonomous vehicles with safety drivers behind the wheel.

The DMV said it would allow commercial service for the companies, but said they would need to obtain another permit from the California Public Utilities Commission to start charging passengers for rides.

Continue reading “GM’s Cruise, Alphabet’s Waymo win permits to offer self-driving rides”

LUXEMBOURG, Sept 30 (Reuters) – A 4.34 billion euro ($5 billion) European Union antitrust fine was based on flawed calculations, Alphabet’s (GOOGL.O) Google said on Thursday, urging Europe’s second-highest court to scrap or reduce what it said was not an appropriate penalty.

Google was fined for using its Android mobile operating system to thwart rivals and cement its dominance in general internet search from 2011, in the largest penalty meted out to any company found guilty of breaching EU antitrust rules.

“The fine that was imposed, a staggering 4.34 billion euros, was not appropriate,” Google’s lawyer Genevra Forwood told the five-judge panel of the General Court on the fourth day of a week-long hearing, which is taking place three years after the European Commission sanctioned the company.

Continue reading “Google tells court ‘staggering’ $5 bln EU antitrust fine flawed”

SHANGHAI, Sept 29 (Reuters) – China’s vast Belt and Road Initiative (BRI) is in danger of losing momentum as opposition in targeted countries rises and debts mount, paving the way for rival schemes to squeeze Beijing out, a new study showed on Wednesday.

President Xi Jinping launched BRI in 2013, aiming to harness China’s strengths in financing and infrastructure construction to “build a broad community of shared interests” throughout Asia, Africa and Latin America.

But Xi’s “project of the century” is now facing major challenges and significant backlashes abroad, according to a study by AidData, a research lab at the College of William and Mary in the United States.

Continue reading “China’s Belt and Road plans losing momentum as opposition, debt mount -study”

BERLIN, Sept 30 (Reuters) – German car parts maker Continental (CONG.DE) announced plans for a restructuring that will combine from the start of next year business activities around connectivity, mobility, and high-performance computers, it said on Thursday.

Its tires business and the ContiTech division, focused on rubber technologies, will become independent group sectors, while its Automotive Technologies branch will split into five business areas including a new focus on smart mobility and user experience, a statement said.

The restructuring is a further step by Continental to reorganise its business after spinning off its powertrain unit Vitesco (VTSCn.DE) in mid-September.

Continue reading “Continental restructures technology unit, downsizes board”

Sept 30 (Reuters) – Toyota Motor Corp (7203.T) and Mazda Motor Corp’s (7261.T) joint venture factory in the United States will hire 1,700 additional employees as it ramps up production, the companies said on Thursday.

Mazda Toyota Manufacturing, which has started making the 2022 Toyota Corolla Cross model, expects to have 4,000 workers in total by next year, when production of the yet-to-be-announced Mazda vehicle will also begin.

The JV expects to produce 150,000 future Mazda crossover vehicles and 150,000 Toyota sport utility vehicles annually.

Continue reading “Toyota, Mazda’s U.S. joint venture to hire 1,700 additional employees”

WASHINGTON/DETROIT, Sept 29 (Reuters) – The plan for Ford Motor Co (F.N) and Korean battery partner SK Innovation (096770.KS) to build three battery plants in the United States, announced this week read more , will prompt a furious drive by labor leaders to organize the plants, potentially setting the tone for future union drives at auto industry factories in the U.S. South.

The United Auto Workers (UAW) union, which represents about 150,000 hourly workers at the U.S. plants for General Motors Co (GM.N), Ford and Chrysler parent Stellantis NV (STLA.MI), is working to represent workers at battery plants. Union leaders have said Ford has a “moral obligation” to make sure battery plant jobs are good-paying union jobs.

The fate of these workers is so important because building electric cars and the batteries that power them is largely where the job growth lies in the auto sector. If the UAW strikes out in the Ford-SK plants, it could face the risk of further erosion of membership as consumers buy fewer gasoline-powered vehicles.

Continue reading “Analysis: Auto industry wonders whether Ford-SK battery plants will sport the union label”

FRANKFURT, Sept 29 (Reuters) – The chief executive of Volkswagen’s (VOWG_p.DE) truck unit Traton (8TRA.DE), Matthias Gruendler, will leave the business and will be replaced by the head of Traton subsidiary Scania, Christian Levin, who will lead both businesses.

In a statement on Wednesday, Traton added that its chief finance officer, Christian Schulz, would leave alongside Gruendler. Schulz will be replaced by Annette Danielski, now the firm’s head of group finance.

Traton said the changes, which take effect on Thursday, were decided by its supervisory board, chaired by VW non-executive Chairman Hans Dieter Poetsch.

Continue reading “Chief executive of VW’s truck unit Traton replaced by Scania boss”

MUNICH/BEIJING, Sept 30 (Reuters) – China’s electric carmakers are darting into Europe, hoping to catch traditional auto giants cold and seize a slice of a market supercharged by the continent’s drive towards zero emissions.

Nio Inc (NIO.N), among a small group of challengers, launches its ES8 electric SUV in Oslo on Thursday – the first foray outside China for a company that is virtually unheard of in Europe even though it’s valued at about $57 billion.

Other brands unfamiliar to many Europeans that have started selling or plan to sell cars on the continent include Aiways, BYD’s (002594.SZ) Tang, SAIC’s (600104.SS) MG, Dongfeng’s VOYAH, and Great Wall’s (601633.SS) ORA.

Continue reading “China’s electric carmakers make their move on Europe”

Sept 28 (Reuters) – Ford Motor Co (F.N) on Tuesday became the second Detroit automaker to ask U.S. salaried employees to reveal their vaccination status against COVID-19 in a bid to comply with wider federal guidelines.

Ford said salaried employees were required to submit their vaccination status against COVID-19 by Oct. 8 but the process was voluntary for its hourly employees represented by the United Auto Workers (UAW) union.

The automaker’s move comes as the Biden administration pursues sweeping measures to increase vaccination coverage in the United States, while pushing large employers to have their workers inoculated or tested weekly. read more

Continue reading “Ford asks U.S. salaried employees to disclose COVID-19 vaccination status”

CASA GRANDE, Ariz., Sept 28 (Reuters) – U.S. startup Lucid Group Inc (LCID.O) said on Tuesday it will start delivering luxury electric sedans with a Tesla-beating driving range in late October, posing a major challenge to the market leader whose sales of premium models have stagnated.

The California-based Lucid began production of its long-delayed Lucid Air cars at its Arizona factory on Tuesday, and said it aims to ramp plant’s capacity up to 90,000 vehicles per annum in the next two years.

The top-end Lucid Air Dream Edition will be available in late October, followed by less expensive models: Grand Touring, Touring and Air Pure. The company said it has received more than 13,000 reservations for Lucid Air models, and it has increased the planned total production of the Lucid Air Dream Edition to 520 vehicles.

Continue reading “Lucid to start deliveries of electric cars with range exceeding Tesla’s in October”

Sept 28 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk said on Tuesday U.S. President Joe Biden’s administration was not the friendliest and its electric vehicle policy appeared to be controlled by labor unions.

Speaking at a tech conference in California, Musk was critical of a White House summit on electric vehicles in August to which automakers other than Tesla were invited.

“(They) didn’t mention Tesla once and praised GM and Ford for leading the EV revolution. Does that sound maybe a little biased?,” Musk said during a panel discussion at the Code Conference in Beverly Hills.

Continue reading “Musk says Biden’s EV policy ‘controlled by unions’-Code Conference”

LONDON, Sept 22 (Reuters) – Vitol has partnered with China’s BYD (002594.SZ) to allocate an initial $250 million to expand electric vehicle infrastructure in some markets, the energy trading firm said on Wednesday.

“Together they will offer municipal, corporate and others a comprehensive solution including electric vehicles, charging infrastructure and depot design,” the statement said.

Vitol is currently deploying over 300 electric buses in Bogota, Colombia, and is seeking additional opportunities in South America and further afield.

Continue reading “Energy trader Vitol, China’s BYD partner on EV infrastructure”

TOKYO, Sept 28 (Reuters) – Toyota Motor Corp’s (7203.T) Silicon Valley research arm on Thursday said it had acquired automotive operating system software company Renovo to help accelerate the development of fully-autonomous connected vehicles.

“I am hoping to shave off years and months to our minimum viable product launches,” James Kuffner, the head of Toyota’s Woven Planet subsidiary said during a press briefing.

A longer term goal is to design software and operating systems that other automakers would also use, the former Google robot engineer added.

Continue reading “Toyota buys software firm Renovo to accelerate self-driving tech development”

Sept 28 (Reuters) – U.S. retail sales of new vehicles are expected to fall nearly a quarter in September, hurt by depleting inventories, even as consumer spending remains strong, consultants J.D. Power and LMC Automotive said in a joint forecast on Tuesday.

New vehicle retail sales in the United States are seen dropping to 888,900 units in September, from 1,182,788 a year ago.

“September results show that there are simply not enough vehicles available to meet consumer demand,” J.D. Power said in a statement.

Continue reading “U.S. new vehicle retail sales set to fall 25% in Sept – data”

PARIS, Sept 28 (Reuters) – Two leading trade unions at Stellantis (STLA.MI) on Tuesday criticised the way the carmaker is implementing a furlough scheme aimed at mitigating the impact of a fall in output brought on by a global chip shortage.

Stellantis and other carmakers have been hit by a series of supply chain disruptions during the COVID-19 pandemic, including chips which are key components in car manufacturing. Stellantis extended production halts at several European plants in late August.

The French furlough deal, agreed by four unions at Stellantis, enables the company to reduce the number of hours worked by staff affected by the chip shortage. The state reimburses the company for a portion of the lost hours, allowing workers to receive most of their salary on the condition they are re-trained and not laid off.

Continue reading “Stellantis criticised by unions in France over furlough scheme to cushion chip shortage”

Sept 28 (Reuters) – The shift to electric vehicles will force huge changes in the auto industry and require EU backing for ‘reskilling’ programs to help workers prepare for a zero-emission future, according to a report published on Tuesday.

The Platform for Electromobility, an industry group, said a report by the Boston Consulting Group showed by 2030 European auto industry employment will drop by less than 1% from 5.7 million people today amid the transition to electric vehicles.

But jobs at manufacturers and traditional suppliers focused on combustion engines will drop 20% and 42% respectively – between them shedding a cumulative 500,000 positions. At the same time, employment at suppliers focused on zero-emission technology will rise by 300,000 workers, representing a 10% increase, the study said.

Continue reading “Shift to EVs means huge ‘reskilling’ job for Europe – report”

DETROIT/SEOUL, Sept 27 (Reuters) – Ford Motor Co (F.N) and its Korean battery partner SK Innovation (096770.KS) will invest $11.4 billion to build an electric F-150 assembly plant and three battery plants in the United States, accelerating the U.S. automaker’s push into electric vehicles.

Ford said on Monday it now expects to have 40% to 50% of its global vehicle volume to be all-electric by 2030, up from its prior forecast of 40%.

The companies intend to create nearly 11,000 jobs by opening assembly and battery plants in Stanton, Tennessee, and two additional battery factories in Glendale, Kentucky, as part of Ford’s previously announced plan to spend more than $30 billion through 2030 on electrification, Ford said. Plants on both sites will open in 2025. read more

Continue reading “Ford, SK to invest $11.4 bln to add electric F-150 plant, three battery factories”

SEOUL, Sept 28 (Reuters) – South Korea’s SK Innovation Co Ltd (096770.KS) plans to invest 5.1 trillion won ($4.32 billion) to build battery production facilities in the United States through its battery joint venture with Ford Motor Co (F.N) through 2027, the company said in a regulatory filing on Tuesday.

The South Korean battery maker, which supplies electric car batteries to Ford Motor and Hyundai Motor Co (005380.KS), among others, has battery production sites in the United States, Hungary, China and South Korea.

($1 = 1,179.6200 won)

MILAN, Sept 27 (Reuters) – Italian luxury car maker Ferrari and its parent company Exor, the holding vehicle of the Agnelli family, are joining forces with with Jony Ive, the creative mind behind many of Apple’s iconic products, and fellow designer Marc Newson.

The duo – who together developed Apple Watch – belong to the LoveFrom creative collective of designers, architects writers, engineers and artists based in London and California.

LoveFrom will explore “a range of creative projects with Exor in the business of luxury” in addition to the collaboration with Ferrari, the companies said in a joint statement on Monday. The partnership is a multi-year deal.

Continue reading “Ferrari, parent Exor clinch alliance with former Apple designer Jony Ive”

Sept 26 (Reuters) – Swedish electric car maker Polestar is nearing a deal to go public through a merger with blank-check firm Gores Guggenheim Inc (GGPI.O) at a valuation of $20 billion including debt, according to people familiar with the matter.

The premium EV maker, owned by China’s Geely (GEELY.UL) and Volvo Cars, could announce its plan to go public as soon as Monday, the people said.

Polestar raised $550 million in external funding in April and announced plans in June to build Polestar 3 electric sport utility vehicles at Volvo’s U.S. plant in South Carolina starting in the second half of 2022.

Continue reading “EV maker Polestar to go public at $20 billion valuation via SPAC -sources”

OXFORD, Sept 27 (Reuters) – Speed has always been paramount for supercar makers, and now they’re in the race of their lives to go electric before climate policy cuts their combustion engines.

That’s why the likes of Ferrari (RACE.MI) and Mercedes-Benz are turning to startups such as Oxford-based electric motor company YASA for expertise and technology to solve the unique challenges of electrifying the highest-performance vehicles.

Batteries are immensely heavy and electric motors overheat if driven too hard – big problems for a niche industry that charges hundreds of thousands of dollars for lightweight cars capable of screaming round 10 laps of a track at full throttle.

Continue reading “Electric supercars need to lose weight, power up and cool down”