NEW YORK, (Reuters) – Swedish electric-vehicle battery maker Northvolt said on Friday it expects to line up additional bankruptcy financing by late January after engaging with over 100 lenders and potential investors.

Northvolt entered bankruptcy on Nov. 21 with a $100-million bankruptcy loan from Swedish truck maker Scania, a shareholder and its biggest customer. But that loan was not intended to carry Northvolt through its entire bankruptcy restructuring, and the company has continued to evaluate proposals for additional financing from strategic and financial investors. Continue reading “Battery maker Northvolt makes progress toward longer-term bankruptcy financing”

FRANKFURT, (Reuters) – Here are the main points of a deal struck on Friday between Volkswagen and unions on the carmaker’s German sites and jobs. The agreement followed more than 70 hours of talks and averted the spectre of strikes at Europe’s largest carmaker.

– Volkswagen will reduce VW AG’s staff in Germany by more than 35,000 jobs, or around a quarter of the division’s workforce, by 2030 in a socially responsible way. Continue reading “What’s in Volkswagen’s deal with the unions in Germany?”

Summary

• Deal sees job cuts and capacity reductions
• Unions hail deal that will keep factories open
• Latest round of talks has been ongoing since Monday
• VW seeks to cut costs as European market shrinks
• Chancellor, top shareholder welcome agreement

HANOVER, (Reuters) – Volkswagen tab on Friday announced sweeping changes to its German operations, including more than 35,000 future job cuts and sharp capacity reductions in a last-gasp deal between Europe’s top carmaker and unions to avert mass strikes. Continue reading “VW reaches union deal to cut 35,000 German jobs after gruelling talks”

Source : PTI | Renewable energy player BCL Industries on Wednesday said it is setting up a bio-energy plant in West Bengal with an investment of INR 150 crore. The company has also received an environment clearance for its 75 KLPD (kilo litres per day) plant coming up in Kharagpur, it said.

Additionally, the work on a similar project with 75 KLPD capacity in Bathinda, Punjab is in full swing. Continue reading “BCL Industries invests INR 150 crore to set up bio-energy plant in West Bengal”

Source : PTI | The National Green Tribunal (NGT) has sought a response from the Delhi government and others in a matter regarding banned petrol and diesel vehicles being used by the government authorities.

According to the rules, diesel vehicles which are more than 10 years old and petrol vehicles which are above 15 years old cannot ply on National Capital Region (NCR) roads. The green body was hearing a BJP MLA’s plea, which claimed non-compliance with the norms by his “old official vehicle”. Continue reading “NGT notice to Delhi over use of banned petrol, diesel vehicles”

Source : PTI | TVS Motor Company on Wednesday reported a 59% increase in its consolidated net profit to INR 479 crore for the third quarter ended December 31, 2023, riding on the back of robust sales across markets. The company posted a consolidated net profit of INR 301 crore in the October-December period of the last fiscal.

Revenue from operations rose to INR 10,114 crore in the December quarter as against INR 8,066 crore in the year-ago period, TVS Motor Company said in a regulatory filing. Continue reading “TVS Motor Q3 net profit rises 59% to INR 479 crore”

Source : PTI | New Delhi: Maruti Suzuki India on Friday said it will introduce a comprehensive EV ecosystem, including charging stations and home charging solutions, alongside its first offering in the segment — eVitara. The company plans to showcase production-ready eVitara at the upcoming Bharat Mobility Global Expo 2025.

The eVitara is a global model manufactured in India for the world, recently unveiled by Suzuki Motor Corporation in Milan, Italy. Continue reading “Maruti Suzuki to introduce comprehensive charging infra along with eVitara”

Source : PTI | Tata Power Delhi Distribution on Friday said it has joined hands with Baaz Bikes for augmenting and setting up of electric vehicle battery swapping stations across North and Northwest Delhi. Tata Power Delhi Distribution Ltd (Tata Power-DDL) is a leading power distribution utility that supplies electricity to about 9 million population in North Delhi.

According a statement, Tata Power DDL signed a Memorandum of Understanding (MoU) with Baaz Bikes (Electorq Technologies Pvt Ltd), a battery-swapping service provider, for augmenting and setting up of electric vehicle battery swapping stations across North and Northwest Delhi. Continue reading “Tata Power DDL partners with Baaz Bikes to provide battery swapping service”

WASHINGTON, (Reuters) – A group of 16 states led by California and environmental groups dropped a lawsuit filed in 2022 that sought to block the U.S. Postal Service’s plan to buy mostly gas-powered, next-generation delivery vehicles.

Since the lawsuit was filed, the Postal Service has shifted from its initial plan to buy 90% gasoline vehicles and 10% EVs to now planning to buy mostly EVs. The California attorney general’s office said on Thursday the states and groups decided to dismiss the lawsuit “given USPS’s commitment to rebuild its fleet with a majority of electric vehicles.” Continue reading “States, environmental groups drop lawsuit over US Postal Service EV purchase plans”

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• Equipped with Level 2 ADAS with 16-Autonoumus Safety Features and 20 Robust Hi Standard Safety Package
• Kia Connect 2.0 brings cutting-edge features such as real-time diagnostics and Over-The-Air (OTA) software updates
• Connected Car Navigation Cockpit – 76.2cm (30”) Trinity Panoramic Display panel
• Syros offers first-in-segment Rear Seat Slide, Recline & Ventilation
• Syros to come with Kia first ever Smartstream G1.0 turbo GDI with 6MT configuration

New Delhi, India – 19th Dec 2024: Kia India has launched the much-anticipated Kia Syros, a revolutionary SUV that is bound to set new standards in design, technology, and space. Built on the reinforced K1 platform, the Syros is tailored to meet the needs of urban drivers and tech-savvy adventurers, blending versatility with cutting-edge advancements. The model introduces the first in-segment rear sliding, reclining and ventilated seats along with several other unrivalled features, like a dual-pane panoramic sunroof and Level 2 ADAS with 16-Autonoumus Safety Features, complemented by a comprehensive suite of 20 Robust Hi Standard Safety Package. Continue reading “Kia Syros World Premiere: A Revolutionary SUV Offering a Fusion of Bold Design, Smart Connectivity, and Advanced Safety Features”

Mumbai,  Magenta Mobility, a leading provider of electric mobility solutions, has solidified its position as India’s largest 4-wheeler electric cargo fleet operator. With a fleet exceeding 500 electric cargo 4-wheelers, the company is transforming urban and intercity logistics while reinforcing its commitment to sustainable and efficient transportation.

Building on its leadership in the 3-wheeler EV segment, where it serves major clients such as Amazon, Flipkart, and BigBasket, Magenta Mobility is now aggressively expanding into the 4-wheeler category. This strategic move strengthens its foothold in the evolving electric mobility ecosystem. The company has launched interstate services across key corridors, including Rajasthan-Haryana-Delhi, spanning over 180 kilometres, and Delhi-Haryana-UP, covering more than 140 kilometres. Additionally, Magenta’s intercity services include the Mumbai-Pune-Mumbai route, a 422-kilometer round trip. Continue reading “Magenta Mobility Strengthens Leadership in 4-Wheeler EV Cargo Fleet with Rapid Expansion into Intercity and Interstate Logistics”

BEIJING, (Reuters) – TuSimple Holdings said on Thursday it would rebrand as CreateAI and pivot from autonomous trucking to AI gaming technology, marking an attempt by the once-prominent self-driving truck startup to make a comeback.

CEO Cheng Lu told Reuters in an interview that the move into gaming and animation technology represented a natural evolution of the company’s capabilities, though the transition comes after two years of setbacks and regulatory challenges. Continue reading “Self-driving truck startup TuSimple rebrands as CreateAI, shifts to gaming tech”

TAIPEI, (Reuters) – A senior executive of Taiwan-based contract manufacturer Foxconn is in France to discuss a potential stake purchase in Nissan Motor from the Japanese automaker’s biggest shareholder Renault Central News Agency reported on Thursday.

Jun Seki, a former Nissan executive who now leads Foxconn’s electric vehicle business, is in France to meet Renault officials, the official Taiwanese news agency reported, citing a source familiar with the matter. Continue reading “Foxconn exec in France to discuss Nissan stake purchase from Renault, Central News Agency reports”

(Reuters) – New car sales growth in Europe turned negative again in November, after showing a meagre growth in October, weighed by sharp declines in France and Italy, and a stagnation in Germany, industry data showed on Thursday.

The slowdown in electric vehicle (EV) sales was only partly offset by the growth of hybrid-electric car registrations, which topped petrol for a third consecutive month, according to the European Automobile Manufacturers Association (ACEA). Continue reading “European car sales fall in November, led by France and Italy, ACEA says”

Summary

• Honda and Nissan in talks to deepen ties, merger possible
• Chinese EVs pose huge threat to traditional carmakers, Japan Inc
• Japan auto industry broadly employs 8% of workforce

TOKYO, (Reuters) – Some unions are born of necessity, others from convenience. In the case of Honda and Nissan’s potential merger, it is mostly defensive as Chinese rivals take the world by storm. Continue reading “Honda-Nissan merger talks expose existential threat of Chinese EVs to Japan”

(Reuters) – Stellantis said on Wednesday it would move up the launch of a new hybrid version of its best-selling Ram pickup truck ahead of an electric version, citing slowing EV demand.

The automaker said the Ram 1500 Ramcharger will be open for consumer orders in the first half of next year, while the Ram 1500 battery-electric light duty pickup truck will launch in 2026. The electric version was originally slated to launch in the first half of 2025. Continue reading “Stellantis moves up launch of hybrid Ramcharger as EV demand cools”

Summary

• Ford to appoint new head of quality as Jim Baumbick takes on added EV responsibilities
• Ford faces $165 million penalty for recall delays
• Ford’s shares down 17% this year amid quality challenges

DETROIT, (Reuters) – Ford Motor is appointing a new head of quality, the company confirmed on Wednesday, as the automaker works to reverse its industry-topping record of recalls and reduce warranty costs. Continue reading “Ford to change its quality leader as it chases lower warranty costs”

(Reuters) – North American graphite miners asked the U.S. government on Wednesday to impose a tariff as high as 920% on Chinese suppliers of the battery metal in order to counter what they describe as Beijing’s “malicious trade practices.”

The move is the latest attempt by Western critical minerals suppliers to offset China’s widespread control of the world’s extraction and processing of the building blocks for electric vehicles and electronics. Continue reading “US graphite miners ask Washington to impose 920% tariff on Chinese rivals”

Summary

• Regulator seeks more details on airbag inflators’ technical differences
• Automakers oppose recall, citing low risk and questioning NHTSA’s analysis
• GM, Stellantis among affected automakers, with millions of vehicles that could be impacted

WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration said on Wednesday it will not seek an immediate recall of airbag inflators in about 50 million U.S. vehicles assembled by 13 automakers and instead will conduct further investigation. Continue reading “US to extend airbag probe rather than require vehicle recall”

TOKYO, (Reuters) – The founding family of Japanese IT firm Fuji Soft on Wednesday reiterated its support for a takeover bid by private equity firm Bain Capital that is opposed by Fuji Soft’s board, it said in a statement jointly released with Bain.

Amid a bidding war with rival private equity giant KKR Bain last week offered 9,600 yen per share, 1.6% more than KKR’s 9,451 yen bid, and on Wednesday went hostile after Fuji Soft’s board rejected the higher offer and supported KKR’s. Continue reading “Fuji Soft founding family affirms support for Bain’s $2 bln hostile takeover bid”

Summary

• Stellantis to invest 2 billion euros in Italy in 2025
• Itay pledges over 1 billion euros for auto supply chain
• Stellantis to produce new hybrid and EV models in Italy

ROME, (Reuters) – Fiat-maker Stellantis on Tuesday presented an upbeat plan to revitalise its output in Italy, aimed at drawing a line under months of fraught relations with the government, but with production only set to grow from 2026. Continue reading “Fiat owner Stellantis launches upbeat plan to boost manufacturing in Italy”

Summary

• EU to tighten emissions rules on Jan. 1
• Around 22% of cars sold must be electric to meet targets
• Based on 2024 sales, sector would pay 15 bln euros in fines
• Companies set to discount EVs to avoid penalties

PARIS/GDANSK, (Reuters) – European automakers are raising prices of petrol cars and readying discounts on electric vehicles as they brace for yet another challenge – tougher emissions rules that threaten to further shrink profits across the struggling industry. Continue reading “Europe’s carmakers discount EVs, hike petrol car prices as new emissions rules loom”

Summary

• Fifth round of talks likely to drag into early hours
• VW, unions expected to reach deal or adjourn until 2025 – source
• If talks collapse, unions to escalate strikes in new year

BERLIN, (Reuters) – Volkswagen and German unions will most likely either reach a deal in the early hours of Wednesday or adjourn until the new year, a source familiar with discussions said on Tuesday, as the two sides strive to reach a cost-cutting pact before Christmas. Continue reading “VW, unions likely to strike deal in small hours or break off till next year, source says”

(Reuters) – Uber Technologies and its CEO Dara Khosrowshahi each donated $1 million to U.S. President-elect Donald Trump’s inaugural fund, a company spokesperson told Reuters on Tuesday.

The ride-hailing firm joins a list of several large businesses that have sought to build a positive relationship with the incoming Trump administration after he won the election in November. Continue reading “Uber and its CEO donate $1 million each to Trump’s inaugural fund”

MELBOURNE, (Reuters Breakingviews) – If only M&A solved everything. Japan’s Nissan Motor and Honda Motor certainly need help. The country’s second- and third-largest automakers are in talks to set up a holding company, Reuters reported on Wednesday, citing a source. That may yet lead to a full merger and possibly include smaller rival Mitsubishi Motors according to the Nikkei. Cost cuts would bolster margins at the trio, whose combined market value at Tuesday’s close was $50 billion. But as Stellantis’s woes show, tie-ups alone don’t create great manufacturers. Continue reading “Nissan-Honda merger would be far from cure-all”

Summary

• Honda and Nissan face competition from Tesla and Chinese EV makers
• Merger would create $54 billion company, world’s No 3 auto group by vehicle sales
• Honda, Nissan also exploring ways to cooperate with Mitsubishi-source
• Taiwan’s Foxconn made a rejected approach to Nissan about a bid-source

TOKYO, (Reuters) – Honda and Nissan are in talks to deepen ties, two people said on Wednesday, including a possible merger, the clearest sign yet of how Japan’s once seemingly unbeatable auto industry is being reshaped by challenges from Tesla and Chinese rivals. Continue reading “Honda, Nissan move to deepen ties, sources say, including possible merger”

Source : PTI | New Delhi: Tata Motors on Tuesday said it has won an order for 1,297 bus chassis from Uttar Pradesh State Road Transport Corporation (UPSRTC). This marks the third order for the auto major from UPSRTC in a year, with a cumulative order size of over 3,500 units, Tata Motors said in a statement.

The order was won through a competitive e-bidding process and the bus chassis will be delivered in a phased manner under mutually agreed terms, it added.

Continue reading “Tata Motors bags order for 1,297 bus chassis from UPSRTC”

Source : PTI | Electric mobility firm Magenta Mobility on Monday said it plans to add 10,000 electric vehicles — both three and four-wheelers — over the next financial year and is also looking at expanding into new cities such as Nashik, Nagpur, Vijayawada, Indore and Kolkata, among others. The company also said that after establishing a strong presence in the electric three-wheeler space, it is now aggressively expanding into the four-wheeler category.

With a fleet exceeding 500 electric cargo four-wheelers, Magenta Mobility is transforming urban and intercity logistics, it said.

Continue reading “Magenta Mobility to add 10,000 EVs over next fiscal; to expand to new cities”

Source : PTI | Asharp deterioration in the capital’s air quality to the higher end of ‘very poor’ range on Monday prompted the Commission for Air Quality Management (CAQM) to impose restrictive actions under stage 4 of the GRAP with immediate effect.

The Centre’s air quality panel for Delhi-NCR on Monday invoked stringent measures under Stage 4 of the air pollution control plan as the region’s air quality turned “severe” due to unfavourable meteorological conditions, according to an official order. Continue reading “GRAP 4 restrictions back in Delhi-NCR”

Summary

• Trump plans to cut EV support, impose tariffs on battery materials
• Proposals aim to boost U.S. production, redirect funds to national defense
• Transition team suggests rolling back emissions standards, blocking California’s stricter rules

(Reuters) – Incoming U.S. President Donald Trump’s transition team is recommending sweeping changes to cut off support for electric vehicles and charging stations and to strengthen measures blocking cars, components and battery materials from China, according to a document seen by Reuters. Continue reading “Exclusive: Trump transition team to roll back Biden EV, emissions policies”

Source : PTI | NEW DELHI: Japanese auto major Nissan’s plans to turn around its Indian operations remain intact, and it is looking to increase headcount in the country despite the turbulence it is facing globally, according to a senior company official. The company, which has increased headcount at its Chennai plant by 600 to add a third shift, does not foresee steps to cut 9,000 jobs and 20 per cent production globally having an impact on India as long as it remains competitive in the market, Nissan India Operations President Frank Torres told PTI.

“Nissan is betting big on India…and the plans (for India) remain intact despite this global turbulence,” he said. Continue reading “India plans intact; to add more headcount despite global turbulence: Nissan”

Source : PTI | The Centre’s panel on Delhi-NCR air quality has issued a revised plan to tackle winter pollution, asking states to implement stricter measures when the air quality deteriorates and making it mandatory for schools to shift to hybrid learning on days with severe air pollution. Poor air quality, driven by unfavourable weather conditions, usually persists for long periods during winter, from November to January.

During this time, Delhi frequently enforces restrictions under the Graded Response Action Plan (GRAP), which categorises air quality into four stages: Stage I (Poor) with AQI between 201 and 300, Stage II (Very Poor) between 301 and 400, Stage III (Severe) between 401 and 450, and Stage IV (Severe Plus) for AQI above 450.

Continue reading “Centre revises air pollution control plan for Delhi-NCR, tightens curbs”

Source : PTI | New Delhi: The upcoming edition of Auto Expo will see participation of 34 vehicle manufacturers, the largest number of participants till date, since the first edition of the marquee event in 1986. The Society of Indian Automobile Manufacturers (SIAM) would be organising the 17th edition of Auto Expo, ‘The Motor Show’, under the aegis of the Bharat Mobility Global Expo 2025 from January 17-22 at Bharat Mandapam, in partnership with ACMA and CII.

“Around 34 vehicle manufacturers would be participating at the exhibition and showcasing technologies with respect to multiple powertrains,” SIAM Director General Rajesh Menon told PTI. Continue reading “Auto expo to see highest-ever participation of vehicle manufacturers: SIAM”

Summary

• Trump transition team recommends repealing requirement that companies report automated vehicle crash data
• Elon Musk’s Tesla opposes the requirement, arguing it has unfairly targeted his company
• Unclear if Donald Trump administration will adopt the recommendation to quash reporting requirement

(Reuters) – The Trump transition team wants the incoming administration to drop a car-crash reporting requirement opposed by Elon Musk’s Tesla, according to a document seen by Reuters, a move that could cripple the government’s ability to investigate and regulate the safety of vehicles with automated-driving systems. Continue reading “Exclusive: Trump team wants to scrap car-crash reporting rule that Tesla opposes”

Summary

• Previous deadline for first EV was 2028
• CEO rules out any IPO plan from parent VW
• CO will always produce cars in Italy
• New Temerario hybrid model costs over 300,000 euros

SANT’AGATA BOLOGNESE, Italy, Dec 16 (Reuters) – Italy’s Lamborghini will always make cars in Italy as it plans to launch its first electric model only in 2029, amid a market for luxury sports cars which is not ripe for full electrification, CEO Stephan Winkelmann said on Monday. Continue reading “Lamborghini delays first EV launch to 2029 as market not ready”

Summary

• To help finance construction of three battery making plants
• Loan higher than conditional commitment of $9.2 bln
• Biden incentivizing EV sector ahead of Trump taking over

WASHINGTON, (Reuters) – The U.S. Energy Department on Monday said it has finalized a $9.63 billion loan to a joint venture of Ford Motor and South Korean battery maker SK On to help finance construction of three new battery manufacturing plants in Tennessee and Kentucky. Continue reading “US finalizes $9.63 billion loan for Ford, SK On joint battery venture”

BERLIN, (Reuters) – Mercedes-Benz’s works council chief said the carmaker must urgently win back market share and rethink its China strategy so sales did not drop below 2 million a year, which he said would be “unacceptable” to labour representatives.

“We would not be satisfied with any less than two million cars a year – we need that to use our German sites to capacity,” Ergun Lümali said in an interview with German newspaper Frankfurter Allgemeine Zeitung (FAZ) published on Monday. Continue reading “Mercedes-Benz labour chief: we must win back market share, rethink China strategy”

Summary

• Stellantis seeks to rebuild relations with dealers and partners
• Rejoining ACEA signals more unified stance on EU carbon targets
• Elkann’s leadership reassures investors, shares rebound over 18%

MILAN/DETROIT, (Reuters) – Steered by Chairman John Elkann, Stellantis , owner of 14 brands including Fiat, Jeep and Ram, is acting swiftly to dismantle the legacy of its former CEO and repair relations with dealers, industry partners, governments and workers. Continue reading “Stellantis swiftly reshapes strategy under Elkann after Tavares exit”