Alexander Cornwell, Marwa Rashad

Reuters 2 min read

DUBAI, July 5 (Reuters) – Saudi Arabia will invest over 500 billion riyals ($133.34 billion) in airports, sea ports, rail and other infrastructure by the end of the decade in a bid to make the kingdom a global transportation and logistics hub, its transport minister said on Monday.

Crown Prince Mohammed bin Salman, who is pushing economic diversification to wean Saudi Arabia off oil revenues and create jobs, announced a transport and logistics drive, of which few details have been released publicly, last Tuesday. read more

Continue reading “Saudi Arabia to invest over $133 bln in transport sector, minister says”

Reuters

2 min read

SEOUL, July 5 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) has invested about $100 million to buy a stake in a lithium metal battery startup, Yonhap news agency reported on Sunday, citing industry sources.

“As we have been investing in various companies related to electrification, our investment in SolidEnergy is part of that,” an official at Hyundai Motor told Yonhap.

Continue reading “Hyundai Motor to invest $100 mln in battery startup SolidEnergy Systems – Yonhap”

Norihiko Shirouzu

Reuters 3 min read

SHANGHAI, July 5 (Reuters) – General Motors Co (GM.N) said on Monday it expanded its design studio in China, which will focus only on developing electric and connected cars and no longer design petrol vehicles.

The move comes as the largest U.S. automaker prepares to cut out petrol and diesel vehicles from its fleet by 2035 and underscores its efforts to gain a bigger foothold in China, the world’s largest electric car market.

Continue reading “GM expands China design studio to focus on EVs, smart cars”

Reuters

3 min read

FRANKFURT, July 5 (Reuters) – Three major European truck manufacturers – Daimler Trucks (DAIGn.DE), AB Volvo (VOLVb.ST) and Traton (8TRA.DE) – said on Monday they plan to form a joint venture (JV) to develop an electric battery-charging network for long-haul trucks and buses.

Charging infrastructure expansion has been a central hurdle to the mass adoption of battery-powered vehicles, with the lack of expansion fuelling so-called range anxiety, the fear of not having enough charging spots to make the trip.

Continue reading “Daimler, Volvo and Traton plan $600 million truck-charging JV”

2 min read

Hyundai continued to be India’s second-largest OEM in the month of June 2021 as 40,496 units were dispatched against 21,320 units during the same period in 2020 with a Year-on-Year growth of 90 percent. The dispatches also grew 62 percent in June 2021 against May 2021. The South Korean major grabbed a 15.9 percent Market Share with a decrease of 8.3 percent over May 2021 (source).

Commenting on the June 2021 sales, Tarun Garg, Director (Sales, Marketing & Service), Hyundai Motor India Ltd., has hinted that with markets opening up and improvement in customer sentiments, Hyundai is witnessing sales revival. The automaker has recently introduced its Alcazar SUV. Garg said the Alcazar has been receiving a pretty good customer response and setting some new benchmarks in the industry.

Continue reading “Hyundai India Sales Analysis for June 2021 – Creta, Venue, i10 Nios, Alcazar”

PTI

2 min read

Electric mobility start-up Oye! Rickshaw plans to invest up to USD 500 million (over Rs 3,700 crore) in the next three years to set up battery swapping infrastructure for electric three-wheelers across India, according to a top company official. The company, which is backed by investors such as Matrix Partners, Chiratae Ventures, Xiaomi and industrialist Pawan Munjal, will be putting in close to USD 20-30 million between this year and the next to accelerate its battery swapping business.

It had set a target of deploying 10,000 lithium-ion batteries by the end of this year but the plans have been impacted by the second wave of the COVID-19 pandemic and is now looking at deploying 6,500 lithium-ion batteries across 5,000 vehicles.

Continue reading “Oye! Rickshaw looks to invest up to $500 million over three years on battery swapping infra”

Ernest Scheyder

Reuters 3 min read

July 2 (Reuters) – General Motors Co (GM.N) is investing in a U.S. lithium project that could become the country’s largest by 2024, making the automaker one of the first to develop its own source of a battery metal crucial for the electrification of cars and trucks.

The deal, announced on Friday, comes as automakers around the world scramble for access to lithium and other electric vehicle (EV) metals as internal combustion engines are phased out.

Continue reading “GM shakes up lithium industry with California geothermal project”

Reuters

1 min read

July 2 (Reuters) – Ford Motor Co’s (F.N) U.S. auto sales in the second quarter rose 9.6% to 475,327 units, benefiting from strong SUV and EV demand in June, the No.2 U.S. automaker said on Friday.

The company posted a 117% rise in U.S. electric and hybrid vehicle sales for June. Ford-branded SUV sales rose 37% in June while its Lincoln SUV sales increased 23.3%.

Continue reading “Ford quarterly U.S. auto sales rise on strong SUV, EV demand”

Reuters 

2 min read

PARIS, July 2 (Reuters) – Carmaker Stellantis (STLA.MI) said on Friday that talks were continuing with the Italian government over the possible construction of a new battery plant, or gigafactory, in Italy.

Stellantis, which already has two battery factory projects in France and Germany, has said that adding gigafactories in Europe and the United States would be decided this year.

Continue reading “Carmaker Stellantis: talks continue with Italian government over new factory”

Reuters 

3 min read

BEIJING/HONG KONG, July 2 (Reuters) – Didi Global’s (DIDI.N) shares fell more than 10% in New York on Friday after China’s cyberspace agency said it had launched an investigation into the Chinese ride-hailing giant to protect national security and the public interest.

The Cyberspace Administration of China (CAC) said on its website that Didi was not allowed to register new users during its investigation, which was announced just two days after Didi began trading on the New York Stock Exchange. read more

Continue reading “China investigates Didi over cybersecurity days after its huge IPO”

Paul Lienert

Reuters 2 min read

July 1 (Reuters) – Volkswagen of America said it sold more than 211,000 cars in the first half of 2021, its highest level for the period in nearly 50 years, and is on pace to sell more than 400,000 this year, Chief Executive and President Scott Keogh said in a media briefing on Thursday.

The U.S. arm of Germany’s Volkswagen AG (VOWG_p.DE) has been able to boost sales volume and market share thanks to an expanded portfolio that is increasingly focused on SUVs, from the new Taos compact to the all-electric ID.4, Keogh said.

Continue reading “Volkswagen sees strongest first-half U.S. sales since 1973”

Reuters

1 min read

BERLIN, July 2 (Reuters) – Germany will in July have 1 million electric cars on the road, hitting its target six months late, Economy Minister Peter Altmaier told Tagesspiegel daily on Friday, saying subsidy programmes had boosted demand.

“We will reach our target of 1 million electric cars by 2020, which everyone thought was unattainable, this July, just six months late,” the minister was quoted as saying.

Continue reading “Germany to have 1 million electric cars on the road in July – paper”

Reuters

2 min read

July 1 (Reuters) – U.S. automakers on Thursday reported a sharp rise in quarterly sales on strong demand for SUVs and pointed to the trend continuing into 2022, as more people shift to private conveyance and new electric vehicles (EVs) line up for launch.

Low interest rates, government stimulus and a preference for personal transportation due to the COVID-19 pandemic have bolstered demand for cars, even as prices have risen due to tight inventories following a global semiconductor shortage.

Continue reading “U.S. quarterly auto sales jump on strong SUV demand, shift to EVs”

2 min read

The Top 10 selling models for June 2021 contributed to over 50% of overall passenger cars sold in India. It included 8 models from Maruti Suzuki and 2 models from Hyundai’s stable. Maruti dominated the list as the supplies were streamlined and the spurt in demand supported as well.

Continue reading “Top 10 Selling Cars in India for June 2021 – Wagon R emerges as the best seller!”

3 min read

Around 2,55,937 passenger cars were sold in the Indian market for June 2021. The sales shot up by a mammoth 118 percent YoY and 147 percent MoM. This was primarily due to the ease of lockdown in several parts of the country and the pent-up demand created by the previous lockdown months.

Continue reading “June 2021 Car Sales – Snapshot”

Guy Faulconbridge, Paul Sandle

Reuters 4 min read

SUNDERLAND, England, July 1 (Reuters) – Nissan Motor Co (7201.T) bet on Britain to supercharge its European electric future on Thursday, pledging $1.4 billion with its Chinese partner to build a giant battery plant that will power 100,000 vehicles a year including a new crossover model.

Facing the most profound technological shift in a century, the titans of the auto industry are racing to secure battery supply close to the factories where they will make the new cleaner electric vehicles of the future.

Continue reading “Nissan bets big on UK with EV battery plant and new crossover”

Scott Murdoch, Yilei Sun

Reuters 2 min read

HONG KONG/BEIJING, June 30 (Reuters) – Chinese smart electric vehicle maker Xpeng Inc said it would raise $1.8 billion to expand its product line-up and develop its technology, by pricing its shares on Wednesday at HK$165 ($21.25) each in a Hong Kong dual primary listing.

The Guangzhou-based company sold 85 million shares which equates to 5% of its stock, according to its prospectus. There is an over-allotment option to sell a further 12.75 million shares that would raise an extra $270 million.

Continue reading “Chinese EV Maker Xpeng to raise $1.8 bln in Hong Kong listing”

Paul Lienert

Reuters 4 min read

June 30 (Reuters) – Volvo Cars is “making good progress” toward a potential initial public offering by the end of this year, the chief executive of the Swedish premium auto brand told Reuters on Wednesday.

“We are looking at the possibility of doing an IPO before the end of the year,” listing shares on the Nasdaq Stockholm exchange, Volvo Cars CEO Hakan Samuelsson said in an interview.

Continue reading “Volvo Cars aiming for an IPO by the end of 2021”

Gilles Guillaume

Reuters 5 min read

PARIS, June 30 (Reuters) – Renault (RENA.PA) unveiled a more ambitious strategy for electric vehicles (EVs) on Wednesday, betting on new, affordable versions of its iconic small cars of the past to catch up with Volkswagen (VOWG.DE) in the fast-growing sector.

The French carmaker’s Chief Executive Luca de Meo said it would launch 10 new EVs by 2025 and that all-electric vehicles would account for up to 90% of its models by 2030, dropping its reliance on hybrids to hit the target under a previous plan.

Continue reading “Renault revives models of the past for an electric future”

2 min read

Tata Motors, India’s largest commercial vehicle player and leading bus manufacturer, announced that it has won a tender of 15 hydrogen-based proton exchange membrane (PEM) fuel cell buses from the Indian Oil Corporation Limited (IOCL). IOCL had invited bids for the supply of PEM fuel cell buses in December 2020, and Tata Motors was selected as the winner following a diligent evaluation process. All 15 buses will be delivered within 144 weeks from the date of signing of the Memorandum of Understanding (MOU).

In addition to supplying the buses to the Research & Development Centre of IOCL, Tata Motors will also collaborate with them to undertake R&D projects and collectively study further the potential of Fuel Cell technology for commercial vehicles. This will be done by jointly testing, maintaining, and operating these buses for public transport in real-world conditions in Delhi-NCR. The buses will be refueled by hydrogen, generated, and dispensed by IOCL.

Continue reading “Tata Motors bags order of 15 hydrogen-based fuel cell buses from Indian Oil!”

Kate Abnett

Reuters 3 min read

BRUSSELS, June 29 (Reuters) – One in every nine new cars sold in Europe last year was an electric or plug-in hybrid vehicle, with low-emission car sales surging even as the COVID-19 pandemic knocked overall vehicle sales, the European Environment Agency said on Tuesday.

The uptick in electric car sales caused a 12% drop in average CO2 emissions of new cars sold in Europe last year, compared with in 2019, reversing a trend that had seen such emissions increase for three consecutive years.

Continue reading “Electric car sales surge as Europe’s climate targets bite”

Joseph White

Reuters 1 min read

DETROIT, June 29 (Reuters) – The Detroit automakers and the United Auto Workers said on Tuesday fully vaccinated workers at their U.S. factories will not have to wear masks on the job beginning on July 12.

General Motors Co (GM.N), Ford Motor Co (F.N), Stellantis NV (STLA.MI) and the union that represents their U.S. manufacturing workers said in a joint statement that those who have not been vaccinated will continue to wear masks at work.

Continue reading “Detroit automakers, UAW drop mask mandate for vaccinated workers”

Steve Scherer

Reuters 3 min read

OTTAWA, June 29 (Reuters) – Canada will ban the sale of fuel-burning new cars and light-duty trucks from 2035 in an effort to reach net-zero emissions across the country by 2050, Prime Minister Justin Trudeau’s government said on Tuesday.

Only zero-emissions cars and trucks can be sold from 2035, according to a statement, adding that a mixture of investments and regulations will help industry transition toward that goal. The government also said it will set interim targets for 2025 and 2030.

Continue reading “Canada to ban sale of new fuel-powered cars and light trucks from 2035”

Ben Klayman

Reuters 3 min read

DETROIT, June 29 (Reuters) – U.S. regulators on Tuesday said they would keep a closer eye on the automotive industry as it rolls out advanced driver safety systems, tracking the new technologies to spot potential defects faster.

The National Highway Traffic Safety Administration (NHTSA) issued an order requiring automakers and operators of vehicles equipped with advanced driver assistance or automated driving systems to report crashes within one day of learning of an incident.

Continue reading “U.S. regulators to more closely monitor advanced driver safety systems”

Yadarisa Shabong

Reuters 2 min read

June 29 (Reuters) – Britain’s automotive industry called for a binding target for the country to achieve 60 gigawatt hours (GWh) of battery capacity by 2030 or risk losing tens of thousands of jobs.

So far, start-up Britishvolt is the only company to announce a plan to build a British battery plant, which it said will deliver more than 30 GWh capacity by end-2027.

Continue reading “British auto industry says Gigafactories needed to save jobs”

Reuters

1 min read

June 28 (Reuters) – Ford Motor Co (F.N) said on Monday its financial services arm, Ford Credit, would wind down operations in Brazil and Argentina and take a non-cash charge of up to $375 million.

Ford said it expects most of these losses, which include $365 million related to foreign currency, to be recognized in 2021, though the timing for the completion of the shutdown is uncertain. (https://bit.ly/3dGEayr)

Continue reading “Ford to wind down finance businesses in Argentina, Brazil”

Reuters

2 min read

PARIS, June 28 (Reuters) – French carmaker Renault (RENA.PA) said on Monday it had sealed partnerships with China’s Envision AESC and France’s Verkor to produce electric car batteries in northern France.

Carmakers globally are racing to keep ahead of rivals in producing cleaner vehicles, a technology shift that is already prompting Germany’s Volkswagen (VOWG_p.DE) to build six battery cell plants of its own in Europe.

Continue reading “Renault seals electric car battery deals with Envision, Verkor”

Reuters

1 min read

BEIJING, June 28 (Reuters) – Shen Tiedong has been named as chairman of Huachen Group, parent of BMW’s (BMWG.DE) China partner Brilliance Auto (1114.HK), according to a Brilliance Auto wechat post on Monday.

Huachen is standing on the brink of bankruptcy, defaulting on billions of yuan in debt obligations. Chinese regulators have launched an investigation into possible violations of disclosure laws by the company.

Continue reading “Embattled parent of BMW’s China partner names new chairman”

Reuters

2 min read

June 28 (Reuters) – The United Auto Workers (UAW) said on Monday Secretary-Treasurer Ray Curry would serve as the union’s president after Rory Gamble retires from the role at the end of June.

Gamble will retire a year before completing his tenure, after steering the union through a multi-year federal corruption investigation. read more

Continue reading “United Auto Workers elects Ray Curry to replace Rory Gamble as president”

Reuters

2 min read

June 29 (Reuters) – Reuters analyzed data generated by an Argonne National Laboratory model to determine at what point a typical electric vehicle (EV) becomes cleaner than an equivalent gasoline car in terms of its lifetime carbon footprint.

Based on a series of assumptions, the data showed that a Tesla Model 3 in the United States, for example, would need to be driven for 13,500 miles (21,725 km) before it does less harm to the environment than a Toyota Corolla. read more

Continue reading “Factbox: Lifetime carbon emissions of electric vehicles vs gasoline cars”

Paul Lienert

Reuters 5 min read

DETROIT, June 29 (Reuters) – You glide silently out of the Tesla (TSLA.O) showroom in your sleek new electric Model 3, satisfied you’re looking great and doing your bit for the planet.

But keep going – you’ll have to drive another 13,500 miles (21,725 km) before you’re doing less harm to the environment than a gas-guzzling saloon.

Continue reading “Analysis: When do electric vehicles become cleaner than gasoline cars?”

1 min read

Hyundai and Maruti race to become the No.1 Passenger Vehicle Exporter from India in FY2122! The gap between the two OEMs was a mere 12,375 units for the volumes between Apr’21 to May’21. Will Hyundai be able to supersede Maruti to take the top slot in FY2122? May 2021 Exports will be the deciding factor!

Continue reading “Indian Car Exports May’21 & YTD. Maruti, Hyundai, Volkswagen, Kia and Ford.”

Gilles Guillaume

Reuters 2 min read

PARIS, June 24 (Reuters) – The Renault-Nissan-Mitsubishi alliance is set to scrap a role overseeing ties with Daimler in favour of individual relations with the German group, three sources told Reuters, as they try to better manage a partnership that has not met initial hopes.

The shift comes as alliance-level executive Jacques Verdonck, who was in charge of the cooperation with Daimler (DAIGn.DE), retires at the end of the month, the sources familiar with the matter said.

Continue reading “Renault-Nissan rejig how they manage Daimler partnership – sources”

Reuters

2 min read

BERLIN, June 24 (Reuters) – Germany’s Volkswagen (VOWG_p.DE) confirmed on Thursday it is considering acquiring a majority stake in car rental company Europcar (EUCAR.PA) as it seeks to tap into the trend for consumers to rent rather than own a vehicle.

Volkswagen said it was considering a potential transaction, together with investors Attestor and Pon Holdings, although considerations were at a very early stage and no decisions had been taken.

Continue reading “Volkswagen considering buying majority stake in Europcar”

Ben Klayman

Reuters 4 min read

DETROIT, June 24 (Reuters) – Volvo Cars plans to make lidar sensors standard equipment in a new generation of its XC90 SUV next year as part of a strategy to deploy more advanced safety and automated driving technology that relies on precise images of the world around the vehicle.

The decision by Volvo Cars to fold lidar sensors into the base price of its vehicle is a bet that customers will pay for the additional capability. It has been called a “watershed moment” by some in the industry.

Continue reading “Volvo’s electric XC90 SUV to include lidar as standard equipment next year”

Giulio Piovaccari

Reuters 3 min read

MILAN, June 24 (Reuters) – Ferrari (RACE.MI) unveiled a new first plug-in hybrid car on Thursday as the luxury sports car maker famed for its roaring combustion engines retools its range for an electric era.

The 296 GTB is Ferrari’s third hybrid to go into series production, which excludes limited-edition vehicles. It follows the SF 90 Stradale in 2019 and a convertible version, the SF90 Spider, last year.

Continue reading “Ferrari unveils $320,000 hybrid sports car in its race to electric”