Nick Carey

Reuters 3 min read

Scotch whisky maker Glenfiddich has begun converting its delivery trucks to run on low-emission biogas made from waste products from its own whisky distilling process as part of a “closed loop” sustainability initiative, it said on Tuesday.

Glenfiddich said it has installed fueling stations at its Dufftown distillery in north-eastern Scotland that use technology developed by its parent company William Grant & Sons to convert its production waste and residues into an Ultra-Low Carbon Fuel (ULCF) gas that produces minimal carbon dioxide and other harmful emissions.

Continue reading “One for the road: Glenfiddich uses whisky waste to fuel trucks”

Chibuike Oguh

Reuters 2 min read

Macquarie Group Ltd’s (MQG.AX) asset management division has raised $6.9 billion for its latest fund dedicated to investing in North American infrastructure, well over its $5 billion target, the Australian bank told Reuters on Tuesday.

The fundraising was completed as U.S. lawmakers negotiate a plan to spend $1.2 trillion over five years on roads, bridges, ports and other public works projects, with some of the financing coming from private investors.

Continue reading “EXCLUSIVE Macquarie raises $6.9 billion for North America infrastructure fund”

Lisa Baertlein, Sanjana Shivdas

Reuters 2 min read

United Parcel Service Inc (UPS.N) shares fell to a three-month low on Tuesday on worries that growth from the pandemic-fueled e-commerce boom may be fading.

The company said second-quarter domestic volume fell 2.9%, with ground – composed largely of e-commerce deliveries – dropping 4% versus the year earlier.

Continue reading “UPS shares hit three-month low on worries e-commerce is cooling”

Gwénaëlle Barzic, Arno Schuetze

Reuters 3 min read

Volkswagen (VOWG_p.DE) is in advanced talks with the hedge fund owners of Europcar (EUCAR.PA) about buying the French car rental company after a first bid from the German automaker was rejected in June, according to two sources close to the matter.

Volkswagen, which has owned Europcar in the past, is exploring an approach at about 0.50 euros per share, following its last offer at 0.44 euros, which would value Europcar’s equity at close to 2.5 billion euros ($3 billion), the sources said.

Continue reading “Volkswagen in advanced talks to buy Europcar – sources”

Hyunjoo Jin

Reuters 4 min read

Tesla Inc (TSLA.O) has weathered the pandemic and supply chain crisis better than many of its rivals, achieving record deliveries last quarter. But Chief Executive Elon Musk faces pressure to deliver on breakthrough batteries and new factories and models, which are late.

Those questions, demand in China and the financial effect of a Bitcoin sell-off will be high on investors’ minds when the electric vehicle company publishes results Monday.

Continue reading “Analysis: Tesla’s plans for batteries, China scrutinized as Musk drops features”

Ben Klayman

Reuters 3 min read

Electric car startup Rivian said on Friday it has closed a $2.5 billion fundraising round led by investors Amazon.com Inc (AMZN.O), Ford Motor Co (F.N) and T. Rowe Price.(TROW.O)

The announcement came the day after the California-based company said it was exploring building a second U.S. assembly plant. Reuters, citing unnamed sources, reported on Thursday that Rivian’s planned plant, dubbed “Project Tera,” will include battery cell production. read more

Continue reading “EV startup Rivian announces $2.5 bln funding round led by Amazon, Ford”

Joseph White

Reuters 3 min read

General Motors Co (GM.N) and its Cruise robo-taxi subsidiary have filed a lawsuit to stop Ford Motor Co (F.N) from using the name “BlueCruise” to market its hands-free driving technology, the companies said on Saturday.

In a statement released shortly after midnight Detroit time, GM said Ford’s use of the BlueCruise name infringed on GM’s Super Cruise trademark, as well as Cruise’s trademark.

Continue reading “GM, Cruise sue Ford to block use of ‘BlueCruise’ name for hands-free driving”

Nick Carey

Reuters 4 min read

Mercedes-Benz maker Daimler (DAIGn.DE) plans to invest more than 40 billion euros ($47 billion) by 2030 to be ready to take on Tesla (TSLA.O) in an all-electric car market, but warned the shift in technology would lead to job cuts.

Outlining its strategy for an electric future, the inventor of the modern motor car said on Thursday it would, with partners, build eight battery plants as it ramps up electric vehicle (EV) production.

Continue reading “Mercedes-Benz hits accelerator in e-car race with Tesla”

Pushkala Aripaka

Reuters 3 min read

Britain’s competition regulator on Friday laid out guidelines to ensure a robust electric vehicle (EV) charging network to aid the country’s net zero plans, as it also launched a probe into some charge-point operators on highways and motorways.

The Competition and Markets Authority (CMA) said Britain could require 10 times as many EV charge-points before 2030, as part of its study into the EV charging market to assesses availability and reliability of the charging points.

Continue reading “UK needs 10 times as many EV charge-points by 2030 -regulator”

Jonathan Saul, Muyu Xu, Yilei Sun

Reuters 6 min read

A new worldwide wave of COVID-19. Natural disasters in China and Germany. A cyber attack targeting key South African ports.

Events have conspired to drive global supply chains towards breaking point, threatening the fragile flow of raw materials, parts and consumer goods, according to companies, economists and shipping specialists.

Continue reading “Global supply chains buckle as virus variant and disasters strike”

David Shepardson

Reuters 4 min read

General Motors Co (GM.N) said Friday it is issuing a new recall for nearly 69,000 Chevrolet Bolt electric vehicles (EVs) worldwide for fire risks after reports of two fires and will replace defective battery modules as needed.

The Bolt EVs were recalled in November for fire risks and at least one of the two new fires was in a vehicle that had already had the software update released as part of that recall.

Continue reading “GM issues new recall for nearly 69,000 Bolt EVs for fire risks”

Lisa Mattackal, Aaron Saldanha

Reuters 3 min read

The semiconductor shortage that has gripped the world could last well into 2022 and hit smartphone production next, foreshadowing deficient supply for a range of appliances and industrial equipment, industry executives and an economist said.

The automotive sector has suffered the most this year but supply to the sector could improve relatively soon, with China taking up some production demand that Taiwan could not meet, ING Greater China chief economist Iris Pang told Reuters Global Markets Forum this week.

Continue reading “Car chip shortage to abate, smartphones could be next: industry execs”

Aditi Shah

Reuters 3 min read

 Tesla Inc (TSLA.O) is likely to set up a factory in India if successful with imported vehicles, Chief Executive Elon Musk said on Twitter, after the company wrote to Indian ministries seeking a big reduction in import duties on electric vehicles, according to two sources with knowledge of the matter.

The electric-car maker’s pitch to lower duties, however, is likely to face resistance from Prime Minister Narendra Modi’s administration which has championed high import taxes for many industries in a bid to boost local manufacturing.

Continue reading “Tesla lobbies India for sharply lower import taxes on electric vehicles – sources”

Ben Klayman

Reuters 3 min read

Electric car startup Rivian said on Friday it has closed a $2.5 billion fundraising round led by investors Amazon.com Inc (AMZN.O), Ford Motor Co (F.N) and T. Rowe Price.(TROW.O)

The announcement came the day after the California-based company said it was exploring building a second U.S. assembly plant. Reuters, citing unnamed sources, reported on Thursday that Rivian’s planned plant, dubbed “Project Tera,” will include battery cell production. read more

Continue reading “EV startup Rivian announces $2.5 bln funding round led by Amazon, Ford”

Niklas Pollard, Yilei Sun

Reuters 4 min read

Volvo Cars has struck a deal to buy out parent company Zhejiang Geely Holding (GEELY.UL) from their joint ventures in China, in a move that could make a potential initial public offering (IPO) for the Swedish automaker more attractive to investors.

Hangzhou-based Geely, which also owns a 9.7% stake in Daimler (DAIGn.DE), said earlier this year it was considering options for Volvo, including an IPO and stock market listing. In February, Geely’s Hong Kong-listed unit Geely Automobile (0175.HK) and Volvo Cars scrapped plans to merge. read more

Continue reading “Eyeing IPO, Volvo Cars to take full control of its Chinese business”

Tina Bellon

Reuters 4 min read

Self-driving startup Argo AI, carmaker Ford Motor Co (F.N) and ride-hail company Lyft Inc (LYFT.O) on Wednesday said they partnered to offer robotaxi trips to Lyft customers in Miami and Austin.

The service is expected to launch in Miami later this year and in Austin next year with a safety driver inside the Ford Escape hybrid vehicles. Over the next five years, the companies want to deploy at least 1,000 robotaxis in multiple cities.

Continue reading “Argo AI, Ford and Lyft to launch self-driving ride-hail service in Miami and Austin”

Reuters

2 min read

Office-space provider Workspace Group Plc (WKP.L) said on Thursday it was witnessing demand at pre-pandemic levels, with strong signs of London businesses returning to offices as restrictions ease, although some near-term uncertainties remained.

Office space operators such as Workspace are firefighting rent deferral and declines amid an extended moratorium on payments, while its clients are forced to cut costs and investments due to the coronavirus crisis.

Continue reading “UK’s Workspace says demand running at pre-pandemic levels as offices reopen”

Shreyasee Raj

Reuters 3 min read

AutoNation Inc (AN.N) said it expects strong demand for new vehicles to continue into next year, as low-interest rates and robust demand helped the top U.S. auto retailer trounce quarterly earnings estimates.

The company said on Monday sales of new and used vehicles surged 42% and 37%, respectively, in the second quarter.

Continue reading “AutoNation tops earnings estimates, expects new vehicle demand to stay strong”

Ankit Ajmera, Rajesh Singh

Reuters 4 min read

The big question hanging over Harley Davidson Inc’s (HOG.N) second-quarter results on Wednesday will be a familiar one: has the 118-year old brand sold enough bikes?

After struggling to broaden its appeal beyond middle-aged and affluent riders for several years, the company has gone back to what it knows best, which is selling big bikes, and the decision is making inroads under Chief Executive Officer Jochen Zeitz.

Continue reading “Back to basics may propel Harley’s profit although Street is wary of volume gains”

Tina Bellon

Reuters 2 min read

Intel Corp (INTC.O) unit Mobileye on Tuesday said it was testing self-driving vehicles in New York City, including the bustling Manhattan borough, in an effort to prove its technology can handle jaywalkers, construction zones and even horse carriages.

Mobileye Chief Executive Amnon Shashua said the company has begun testing camera-only vehicles in New York City in the past weeks. It is currently testing one car, with plans to add a second one later this year, a spokeswoman said.

Continue reading “Mobileye tests self-driving cars in New York City”

Reuters

2 min read

Suzuki Motor Corp (7269.T) and Daihatsu are joining a commercial electric vehicle coalition led by Toyota Motor Corp (7203.T), the carmakers announced on Wednesday, helping the Japanese alliance expand its focus from trucks to smaller cars.

The two automakers will each acquire a 10% stake in the joint venture, on par with Isuzu Motors (7202.T) and Hino Motors (7205.T), while Toyota will hold a 60% stake, they said.

Continue reading “Suzuki and Daihatsu join Toyota electric vehicle venture”

Reuters

1 min read

Germany’s BASF (BASFn.DE) said on Wednesday it has been chosen as the exclusive partner to develop high-performing lithium-ion batteries for electric vehicles with Cellforce Group, a joint venture between Porsche (VOWG_p.DE) and Customcells.

As part of the collaboration, BASF will provide materials for high-performance battery cells for fast charging and high energy density. Cellforce Group will produce the high-performing battery.

Continue reading “BASF, Porsche to develop high-performing lithium-ion batteries”

Gleb Stolyarov

Reuters 2 min read

Moscow, capital of one of the world’s biggest hydrocarbon exporters, plans to boost the use of electric cars by rolling out a raft of charging infrastructure in the coming years, the city’s top transport official told Reuters.

The use of electric cars in oil and gas giant Russia lags far behind other European capitals. But Moscow plans to install 200 electric charging stations annually starting thisyear, said Maxim Liksutov, head of the city’s transport department.

Continue reading “Moscow, capital of oil-rich Russia, targets electric car growth”

Reuters

2 min read

Tesla Inc (TSLA.O) plans to open its network of superchargers to other electric vehicles later this year, Chief Executive Officer Elon Musk said on Twitter.

The electric-car maker’s fast charging network, with over 25,000 superchargers globally, has given it a competitive edge. Meanwhile, other carmakers have formed alliances or invested in startups for networks as they rush new electric vehicle entrants to market.

Continue reading “Tesla plans to open its charging network to other EVs later this year”

Chris Taylor

Reuters 4 min read

Think about the future of transportation, and you might envision the old animated show “The Jetsons,” with everyone flying around in personal spaceships.

Not only did that never happen, but we are still piling into creaky old subways and buses.

Continue reading “All aboard the hyperloop: How your commute could be changing”

Eric Onstad

Reuters 7 min read

As tensions mount between China and the United States, automakers in the West are trying to reduce their reliance on a key driver of the electric vehicle revolution – permanent magnets, sometimes smaller than a pack of cards, that power electric engines.

Most are made of rare earth metals from China.

The metals in the magnets are actually abundant, but can be dirty and difficult to produce. China has grown to dominate production, and with demand for the magnets on the rise for all forms of renewable energy, analysts say a genuine shortage may lie ahead.

Continue reading “China frictions steer electric automakers away from rare earth magnets”

Nick Carey, Barbara Lewis

Reuters 6 min read

Britain has set a fast pace in the electric vehicle race with its 2030 ban on sales of new fossil fuel-powered cars and has offered 1 billion pounds ($1.4 billion) to jump start its battery industry and associated supply chain.

But the cash and the headline-grabbing deadline – which is sooner than many other nations by several years – still leaves it trailing the European Union’s drive to create a supply chain and far behind China, the electric vehicle (EV) battery leader.

Continue reading “Running low on battery power: Brexit Britain faces an acid test”

Reuters

1 min read

Carmaker Stellantis (STLA.MI) said on Monday it will temporarily halt a shift at its Vauxhall van factory in Luton, southern England, due to the large number workers isolating to halt the spread of COVID-19.

“The safety of our staff is of the highest priority at Stellantis,” the world’s fourth-largest carmaker said in a statement. “In order to protect our teams, our plant in Luton will move from three shifts to two shifts for the duration of this week.”

Continue reading “Stellantis halts UK van plant shift as workers isolate amid COVID-19 spread”

David Shepardson

Reuters 2 min read

Volkswagen AG (VOWG_p.DE) said Monday it will end U.S. sales and production of the Passat sedan next year, the latest shift by automakers away from cars and toward larger sport utility vehicles.

Volkswagen said it will end U.S. assembly of the Passat sedan in Tennessee with model year 2022. VW has sold various versions of the Passat since 1974 in the United States – initially under the Dasher and Quantum names – and the Passat name first appeared in the U.S. market in 1990.

Continue reading “VW to end U.S. production, sales of Passat as focuses on SUVs”

2 min read

We have consistently shared the car sales analysis with our readers. In yet another attempt to help our readers understand the performance of the car sales figures, we present to you the segment-wise analysis.

Continue reading “India’s Segment Wise Top Selling Cars June’21. Alto, Brezza, Creta, City, Innova Crysta and others.”

1 min read

The Two wheeler Industry has seen a flat performance when it comes to the top 10 cars. A total of only 39,767 units were in growth. The Last Year June saw 7,52949 units. This year June saw 7,92,716 units sold. If we look at the growth rate, it was about 5.28% up against Ly same month.

Continue reading “Top 10 Selling Two Wheelers for June’21. Splendor, Activa, Pulsar, Access and others.”

David Shepardson

Reuters 3 min read

U.S. Transportation Secretary Pete Buttigieg is looking at ways to address supply chain disruptions – from clogged ports to addressing the shortage of truck drivers.

President Joe Biden issued an executive order in February on supply chain issues.

Continue reading “U.S. officials look to address transportation supply chain issues”

David Shepardson

Reuters 2 min read

Ford Motor Co (F.N) said on Friday it was recalling about 775,000 Ford Explorer SUVs worldwide for a steering issue linked to reports of six injuries in North America.

The recall covers 2013-2017 model year vehicles that may experience a seized cross-axis ball joint that could cause a fractured rear-suspension toe link, which could significantly diminish steering control, increasing the risk of a crash.

Continue reading “Ford recalling 775,000 SUVs for steering issue linked to six injuries”

Reuters

1 min read

SAIC-GM-Wuling, General Motors Co’s (GM.N) China joint venture with SAIC Motor (600104.SS) and a smaller company, will recall 1.44 million cars under Wuling and Baojun brands in China due to an engine component issue, China’s market regulator said.

The Liuzhou-based joint venture also sells Wuling Hong Guang MINI EV, the top-selling electric vehicle in the world’s biggest car market.

Continue reading “GM’s China venture to recall 1.44 mln cars over engine issue”

Maki Shiraki

Reuters 3 min read

 Honda Motor Co’s (7267.T) new chief executive said on Friday the Japanese automaker was willing to form new alliances to make electrification profitable.

“If through an alliance Honda can accomplish early what it should aim to be, then we’d be willing to form an alliance,” Toshihiro Mibe, who took the top job in April, told a press briefing, when asked how he envisions global alliances on electrification.

Continue reading “Honda open to new alliances to bring down EV costs, says CEO”