Tina Bellon

Reuters 2 min read

Lyft Inc (LYFT.O) on Thursday said it will return the option for passengers to book shared rides in select U.S. markets for the first time since the pandemic, when shared trips were scrapped to halt the spread of the novel coronavirus.

Lyft said shared rides, which allow multiple passengers to split a car traveling in the same direction, would become available in Chicago, Philadelphia and Denver as of Monday. The company, which prior to the pandemic operated shared rides in 18 markets, said it plans to return the option to all those cities in the next few months.

Continue reading “Lyft to resume shared rides in U.S. for first time since pandemic”

Reuters

2 min read

FedEx Corp will make a $100-million equity investment in Indian e-commerce logistics startup Delhivery as part of a long-term commercial agreement, the U.S. delivery firm said on Friday.

SoftBank-backed Delhivery will sell FedEx Express’ international products and services in India, as part of the deal, and also provide pick-up and delivery services across the country.

Continue reading “FedEx to invest $100 mln in Indian logistics firm Delhivery”

Reuters

2 min read

Tesla Inc’s (TSLA.O) vehicle registrations in California rose more than 85% in the second quarter versus last year, largely due to the success of the company’s Model Y, according to data from Cross-Sell, a research firm that collates title and registration data.

The automaker posted record vehicle deliveries for the April-to-June quarter earlier this month, as it dealt with a semiconductor shortage and relied on sales of its cheaper models. read more

Continue reading “Tesla registrations in California surge 85% in second quarter – data”

GM Media

2 min read

$71 million investment in new 149,000-square-foot technology campus will significantly expand advanced design and innovation work in the region

General Motors announced a more than $71 million investment to establish a new campus in Pasadena, California, for GM’s Advanced Design Center operations, a move that will substantially increase the center’s capacity and create more jobs in the area.

Continue reading “General Motors Invests in New Advanced Design and Technology Campus in Southern California”

David Shepardson

Reuters 2 min read

U.S. auto safety regulators on Wednesday urged about 50,000 owners of General Motors electric Chevrolet Bolt vehicles that were recalled last year to park outside and away from homes and other structures after charging because of fire risks.

Earlier on Wednesday, GM made the same recommendation and added owners should not leave vehicles charging overnight. The recommendation was prompted after the largest U.S. automaker said it was investigating reports of two recent fires in vehicles that were recalled in November for fire risks.

Continue reading “U.S. urges 50,000 Chevy Bolt owners to park outside because of fire risks”

Reuters

3 min read

Mercedes-Benz maker Daimler AG (DAIGn.DE) on Thursday reported preliminary adjusted group earnings before interest and tax (EBIT) of 5.42 billion euros ($6.42 billion) for the second quarter, with car and truck divisions beating analyst targets.

Mercedes-Benz Car and Van results were helped by pricing and cost discipline, helping to offset any impact from a global shortage of semiconductors. Adjusted EBIT for Mercedes-Benz cars and vans was 3.60 billion euros, versus consensus of 3.1 billion euros, it said.

Continue reading “Daimler reports Q2 preliminary adjusted EBIT of $6.42 bln”

Eimi Yamamitsu, Maki Shiraki

Reuters 5 min read

TOKYO, July 15 (Reuters) – Toyota Motor Corp’s (7203.T) research arm said on Thursday it acquired U.S.-based Carmera, a provider of maps and data for driverless vehicles, marking the Japanese car maker’s latest investment in autonomous technology.

The purchase, through newly created subsidiary Woven Planet for an undisclosed sum, underscores Toyota’s push to bulk up its self-driving arsenal as traditional automakers compete with the autonomous ambitions of tech giants including Apple (AAPL.O) and Amazon (AMZN.O).

Continue reading “Toyota buys U.S. mapping, road data firm to bulk up driverless tech”

2 min read

Tata Motors announced the launch of a new brand ‘XPRES,’ exclusively for fleet customers. Under the XPRES brand, the company will introduce offerings, catering to fleet-specific needs of safety, passenger comfort, and low cost of ownership. All vehicles for the fleet segment will sport an XPRES badge, clearly differentiating them from the growing ‘New Forever’ range of cars and SUVs that cater to the requirements of the personal segment.

Continue reading “Tata Motors launches the ‘XPRES’ brand for fleet customers!”

Christoph Steitz

Reuters 3 min read

WOLFSBURG, Germany, July 13 (Reuters) – Volkswagen (VOWG_p.DE) raised its long-term profitability target on Tuesday in a sign of the German automaker’s growing confidence in managing the shift to electric and self-driving vehicles.

Presenting its strategy until 2030, Europe’s largest carmaker also said it expected half of its global vehicle sales to be battery-powered by that date – joining rivals in setting ambitious goals to move on from the era of combustion engines.

Continue reading “VW shows confidence in electric future with higher margin goal”

Tina Bellon

Reuters 4 min read

President Joe Biden has vowed to significantly reduce emissions by 2030, while at the same time creating new, well-paid green energy jobs. His administration has identified bus electrification as one of the main ways to achieve that goal.

While more than half of transport emissions are produced by conventional passenger cars, diesel-powered transit buses are considered among the worst polluters, particularly in America’s cities.

Continue reading “Factbox: Five facts on why electric buses are key to Biden’s green agenda”

Reuters

2 min read

LONDON, July 14 (Reuters) – Britain will ban the sale of new petrol and diesel heavy good vehicles from 2040 as part of a broader package of green initiatives aimed at achieving net zero emissions from all forms of transport ten years later.

Prime Minister Boris Johnson’s government is seeking to elevate Britain’s environmental credentials as he prepares to hold the United Nations’ Climate Change Conference, known as COP26, in Scotland later this year.

Continue reading “Britain to ban all new diesel and petrol heavy goods vehicles from 2040”

Nick Carey, Kate Abnett, Ilona Wissenbach

Reuters 3 min read

LONDON, July 14 (Reuters) – The European Union is set to propose measures on Wednesday, as part of a broad climate package, that signal the end of petrol (gasoline) and diesel car sales within 20 years, and accelerate a switch to electric propulsion.

Many carmakers have already announced huge investments in electrification, partly in anticipation of tougher emissions targets, but want to know whether the EU will back them by building public charging stations, and how soon it wants hybrid electric/combustion vehicles to be phased out.

Continue reading “EU set to call time on combustion engine within two decades”

Reuters

2 min read

The U.S. government will this week warn companies of increasing risks of operating in Hong Kong and also update a previously issued warning on Xinjiang, the Financial Times reported on Tuesday.

The report said that U.S. companies face threats including the Chinese government’s ability to gain access to data that foreign companies store in Hong Kong.

Continue reading “Biden to warn U.S. companies of risks of operating in Hong Kong – FT”

Reuters

2 min read

HANOI, July 12 (Reuters) – Vietnam’s first domestic car manufacturer, Vinfast, said on Monday it has opened offices in North America and Europe, joining a crowded field of players seeking to woo customers with smart electric cars.

VinFast, a unit of Vietnam’s largest conglomerate Vingroup JSC (VIC.HM), became the country’s first fully fledged domestic car manufacturer when its gasoline-powered models built under its own badge hit the streets in 2019.

Continue reading “Vietnam’s VinFast starts operations in North America and Europe”

Tom Hals, Sierra Jackson

Reuters 4 min read

WILMINGTON, Del., July 12 (Reuters) – Elon Musk insisted in court that Tesla Inc’s(TSLA.O)board controls the company but also said the electric vehicle maker would “die” if he wasn’t the chief executive, as he ended his first day of testimony on Monday in defense of Tesla’s 2016 acquisition of SolarCity.

The lawsuit by union pension funds and asset managers alleges the celebrity CEO strong-armed Tesla’s board of directors into depleting the company’s assets with the $2.6 billion all-stock deal for SolarCity.

Continue reading “Musk tells SolarCity trial that Tesla would ‘die’ if he wasn’t CEO”

Joan Faus, Nathan Allen

Reuters 3 min read

MADRID, July 12 (Reuters) – Spain will invest 4.3 billion euros ($5.1 billion) to kick-start the production of electric vehicles and batteries as part of a major national spending programme financed mostly by European Union recovery funds, the government said on Monday.

Prime Minister Pedro Sanchez said the government-run plan would include the whole production chain, giving grants to companies with the goal of building the country’s first battery plant and boosting manufacturing of electric vehicles.

Continue reading “Spain to invest $5.1 bln in electric vehicle production”

David Shepardson

Reuters 3 min read

WASHINGTON, July 8 (Reuters) – Toyota Motor Corp’s (7203.T) political action committee will halt donations to U.S. members of Congress who voted against President Joe Biden’s election certification in January, the company said on Thursday.

The largest Japanese automaker has faced harsh criticism for donations to some lawmakers – members of then-President Donald Trump’s Republican Party – who voted against certification of Biden’s win in some U.S. states.

Continue reading “Toyota halting contributions to U.S. lawmakers who opposed Biden certification”

Giulio Piovaccari, Ben Klayman

Reuters 5 min read

MILAN/DETROIT, July 8 (Reuters) – Stellantis (STLA.MI), the world’s No. 4 automaker, said on Thursday it plans to invest more than 30 billion euros ($35.54 billion) through 2025 on electrifying its vehicle lineup.

The company, formed in January from the merger of Italian-American automaker Fiat Chrysler and France’s PSA, said its strategy will be supported by five battery plants in Europe and North America as it gears up to compete with electric vehicle (EV) leader Tesla (TSLA.O) and other automakers globally.

Continue reading “Stellantis makes 30 billion euro wager on electric vehicle market”

Christoph Steitz

Reuters 2 min read

FRANKFURT, July 9 (Reuters) – Volkswagen’s (VOWG_p.DE) first-half operating profit is expected to reach around 11 billion euros ($13 billion), it said on Friday, topping pre-pandemic levels on strong demand in Europe and the United States, particularly for Porsches and Audis.

The upmarket brands were less affected by an ongoing global shortage of crucial semiconductors, the German automaker said, adding its financial services arm also helped to boost earnings.

Continue reading “Premium cars drive Volkswagen profit above pre-pandemic levels”

Reuters

1 min read

BEIJING, July 9 (Reuters) – Chinese electric vehicle maker Nio Inc (NIO.N) plans to have 4,000 battery swapping stations globally in 2025, its president Qin Lihong said on Friday.

The company, which makes premium electric cars, aims to have 700 battery swapping stations by the end of this year. A battery swapping station allows drivers to change the battery in their cars to power the rides.

Continue reading “EV maker Nio to have 4,000 battery swapping stations globally in 2025”

Kate Abnett, Mark John

Reuters 5 min read

BRUSSELS/LONDON, July 9 (Reuters) – A European Union plan to extend carbon pricing to the fuel used in cars and to heat homes is facing a wall of early resistance from countries and lawmakers fearing a public pushback unless backers find ways to compensate those worst hit.

According to leaked drafts, the scheme would set up an Emissions Trading Scheme (ETS) for transport and heating, creating a market price for carbon – a price that fuel suppliers are likely to pass on to Europe’s half a billion consumers in the form of higher bills.

Continue reading “Analysis: Europe’s carbon push stokes backlash fears”

Tom Hals, Sierra Jackson

Reuters 4 min read

July 9 (Reuters) – Does Elon Musk control Tesla Inc (TSLA.O) or does Tesla control Elon Musk?

More than $2 billion hinges on that question as a trial kicks off on Monday. Shareholders allege that Musk used his control of Tesla to force the company in 2016 to rescue SolarCity, saving the solar panel maker – and Musk’s investment in the company – from bankruptcy.

Continue reading “Musk trial asks the $2 bln question: Who controls Tesla?”

Reuters

3 min read

FRANKFURT, July 9 (Reuters) – Volkswagen (VOWG_p.DE) on Friday handed Chief Executive Herbert Diess a contract extension under which he will lead the carmaker until October 2025, the group said, a victory made possible by the recent departure of works council head Bernd Osterloh.

Reuters reported on Thursday that Volkswagen’s supervisory board was discussing a two-year extension to Diess’ contract, which would have expired in 2023, after two attempts last year failed over ongoing resistance by labour representatives. read more

Continue reading “Volkswagen hands CEO Diess contract extension ahead of strategy presentation”

PTI

2 min read

Automaker Renault India on Thursday said it has included the Hindi language on its website in order to cater to its growing customer base in the country. The automaker, which sells models like Kwid, Triber, and Kiger, now has a bi-lingual website (English & Hindi), taking another step towards enhancing its familiarity and consumer connect.

Offering customers language of choice as an interface, the website will enable customers who wish to access the website in Hindi, to efficiently avail information related to the company’s entire product range and services, enabling direct access to a large portion of potential customer base adopting Internet throughout the country, Renault India said in a statement.

Continue reading “Renault India rolls out website with Hindi option”

Heekyong Yang

Reuters 3 min read

SEOUL, July 8 (Reuters) – LG Chem Ltd (051910.KS) and its wholly-owned battery subsidiary LG Energy Solution (LGES) plan to invest a combined 15.1 trillion won ($13.17 billion) in South Korea this decade, LGES said on Thursday.

Across the globe, countries are racing to bolster EV battery supply chains as demand for electric vehicles surges to combat climate change and automakers partner with battery makers to ensure uninterrupted supplies.

Continue reading “S.Korea’s LG Chem, LGES pledge $13 bln in battery investment by 2030”

Giulio Piovaccari

Reuters 4 min read

MILAN, July 8 (Reuters) – Stellantis (STLA.MI) softened up investors ahead of its electrification strategy event on Thursday by flagging that 2021 got off to a better than expected start despite a chip shortage that has hit automakers worldwide.

Stellantis, which was formed in January from the merger of Italian-American automaker Fiat Chrysler and France’s PSA, faces an investor community keen to hear how it plans to come up with a range of electrified vehicles (EVs) to rival Tesla (TSLA.O).

Continue reading “Stellantis flags favourable margins ahead of EV strategy event”

Reuters

2 min read

BERKELEY, California, July 7 (Reuters) – Elon Musk’s tunneling enterprise, Boring Company, has submitted a bid to build an underground transit system between downtown and the beach in Fort Lauderdale, Florida, the city’s mayor said.

“This could be a truly innovative way to reduce traffic congestion,” Fort Lauderdale Mayor Dean J. Trantalis tweeted on Tuesday, adding that other firms have 45 days to submit competing proposals.

Continue reading “Musk’s Boring Company bids to build transit tunnel in Florida”

Josh Horwitz, Yilei Sun

Reuters 3 min read

SHANGHAI, July 7 (Reuters) – China’s cyberspace regulator has launched a probe into ride-hailing giant Didi Global , calling for it to stop adding new users and for app stores to remove it, days after it went public in a $4.4 billion New York stock sale.

The move, followed by similar actions against two other recently U.S.-listed Chinese firms, comes amid tightening policies around data control and privacy, and a broader crackdown on tech firms.

Continue reading “Explainer: What is driving China’s clampdown on Didi and data security?”

Tata Power

2 min read

The initiative is in sync with the Government’s move to create country’s first ‘only electric vehicle city’ at Kevadia, Gujarat

Supported by Tata Power EZ Charge Mobile App, the charging point will help EV owners locate the station in real-time

Continue reading “Tata Power EZ Charge ‘stands tall ‘ with the first rapid charger near the Statue of Unity”

Arno Schuetze, Christoph Steitz

Reuters 4 min read

FRANKFURT, July 6 (Reuters) – Volkswagen (VOWG_p.DE) is to sell a stake in its electric vehicle charging unit Electrify America, two people familiar with the matter said, as the carmaker looks for outside funds to build infrastructure for battery-powered cars.

Volkswagen is working with Citi (C.N) to look for a co-investor that is prepared to inject roughly $1 billion into the division, the people said, adding that the company is expected shortly to reach out to infrastructure groups and other potential investors.

Continue reading “Volkswagen to sell stake in charging unit Electrify America -sources”

David Shepardson

Reuters 3 min read

WASHINGTON, July 6 (Reuters) – The U.S. Commerce Department on Tuesday released a confidential Trump administration report that was the basis for the former president’s threats in 2019 to impose tariffs on imported automobiles on grounds of national security.

Then-U.S. President Donald Trump in May 2019 declared that some unidentified imported autos posed national security risks. He refused to release the report to Congress or the public, which prompted a lawsuit seeking its disclosure.

Continue reading “U.S. releases confidential Trump report on foreign auto threat”

Reuters

2 min read

BERKELEY, California, July 6 (Reuters) – Shareholders of Nikola Corp (NKLA.O) have voted against a proposal to approve compensation paid to its “named executive officers,” including $159.2 million to founder and former executive chairman Trevor R. Milton, the electric truck maker said on Tuesday.

The decision, although non-binding, illustrates shareholders’ discontent about Nikola, once a high-flying company whose shares tanked over 80% from its peak partly due to ongoing probes by regulators and prosecutors.

Continue reading “Nikola shareholders reject executive pay proposal”

Reuters

1 min read

MOSCOW, July 7 (Reuters) – Russian tech giant Yandex (YNDX.O) will launch an electric scooters rental service in Moscow on Wednesday, the company said, tapping into surging demand across the city.

Electric scooters are a common sight in Moscow during summer, whizzing around the city’s parks and pavements, but authorities have been forced to impose speed limits following a string of accidents. read more

Continue reading “Russia’s Yandex launches fleet of electric scooters in Moscow”

Nick Carey

Reuters 4 min read

HETHEL, England, July 6 (Reuters) – Lotus unveiled its last ever petrol car on Tuesday, a milestone in the British sportscar brand’s journey towards becoming an all-electric and far bigger automaker by the end of the decade.

Lotus and its Chinese owner Geely want to transform what is now a tiny company making some 1,500 sports cars a year into an electric powerhouse churning out tens of thousands of high-end saloons and sports-utility vehicles (SUVs) as well.

Continue reading “Unveiling its last petrol car, Lotus sets off in pursuit of Porsche”

Costas Pitas

Reuters 3 min read

LONDON, July 6 (Reuters) – The Vauxhall car factory in northwest England will get a 100-million pound ($140 million) investment to produce electric vans, owner Stellantis (STLA.MI) said on Tuesday, the second positive announcement for British vehicle output in recent days.

Nissan pledged last week to invest further in the country with plans for a new giant battery plant, as companies electrify their line-ups ahead of tougher emissions rules and looming bans. read more

Continue reading “UK Vauxhall factory gets new lease of life with electric vans”

Reuters

2 min read

BERLIN, July 6 (Reuters) – German flying taxi startup Volocopter said on Tuesday it was acquiring long-time partner DG Flugzeugbau, in a step that secures its compliance with the European Union air safety regulator’s production standards.

The acquisition, the terms of which were not disclosed, means that Bruchsal-based Volocopter now has production organisation approval in compliance with the European Union Aviation Safety Agency (EASA), in addition to existing EASA design approval.

Continue reading “Air taxi startup Volocopter gains key production certification”

Reuters

2 min read

FRANKFURT, July 5 (Reuters) – Volkswagen’s (VOWG_p.DE) luxury sportscar unit Porsche AG on Monday said it agreed to form a joint venture (JV) with Croatia’s Rimac Automobili that will include VW’s Bugatti brand, confirming plans mapped out earlier this year.

To be set up in the fourth quarter and based in Zagreb, the venture, called Bugatti-Rimac, will be 55%-owned by Rimac, with Porsche AG owning the rest.

Continue reading “Porsche AG, Croatia’s Rimac set up JV involving VW’s Bugatti brand”