BEIJING, (Reuters) – Chinese electric vehicle maker BYD reported improved net profits in the second quarter thanks to its extended market leadership, even though it led a protracted price war with aggressive discounts on its best-selling models.

BYD’s net profit hit 9.1 billion yuan ($1.3 billion) in the April-June quarter, up 32.8% from a year earlier and its fastest growth since end-2023, while revenue grew 25.9% to 176.2 billion yuan, it said in a stock exchange filing. Continue reading “Chinese EV maker BYD boosts net profit despite discounts”

Aug 29 (Reuters) – Britain’s car production fell for the fifth consecutive month in July, hurt by manufacturers shifting to new models and temporary disruptions in supply chain, industry data showed on Thursday.

A total of 65,478 cars rolled off production in July, down 14.4% from a year earlier, the Society of Motor Manufacturers and Traders (SMMT) said. Continue reading “UK car output drops for fifth straight month in July, data shows”

(Reuters) – Automaker Ford Motor said on Wednesday it will change its diversity, equity and inclusion program, including ending participation in an LGBTQ advocacy group’s ranking system, joining several U.S. companies that have redefined those programs amid pressure from conservative groups.

“We are mindful that our employees and customers hold a wide range of beliefs, and the external and legal environment related to political and social issues continues to evolve,” Ford CEO Jim Farley said in a memo to employees. Continue reading “Automaker Ford to modify diversity policy, internal memo says”

(Reuters) – New car sales in the European Union rose 0.2% in July, slowed by declines in France and Germany, while battery-electric vehicles continued to lose market share, data from Europe’s auto industry body showed on Thursday.

Improvements in the Belgian, Dutch and French electric-vehicle (EV) markets failed to offset a drop of almost 37% in Germany’s battery-electric sales, the European Automobile Manufacturers Association (ACEA) said. Continue reading “EU new car sales flat in July as battery-electric slumps, industry body ACEA says”

TOKYO, (Reuters) – Toyota Motor said on Thursday its global production slipped for a sixth straight month in July, hurt by declines in markets such as China and Thailand, though the fall was smaller than the previous month’s double-digit drop.

Output for July slid 1% compared to the same month a year earlier to 804,610 vehicles, with production in China down 6% and that in Thailand falling 13%. Continue reading “Toyota global output falls for 6th straight month in July”

OTTAWA, (Reuters) – Before Canada said this week it was imposing a 100% duty on Chinese-made electric vehicles, Tesla approached Ottawa and asked for a lower tariff on its autos, a Canadian government source said on Wednesday.

Canada, following the lead of the United States, said on Monday it was setting the tariff for all Chinese-made vehicles sold in the country because of what it called China’s intentional, state-directed policy of over-capacity. Continue reading “Exclusive: Tesla asked Canada for lower tariff on China-made EVs, government source says”

Summary

• South Korean automaker gearing up for $3 billion India IPO
• Will introduce first India-made EV, an SUV, in early 2025
• To launch at least two new gasoline-powered SUVs starting in 2026-sources

NEW DELHI, (Reuters) – Hyundai Motor, long the most successful foreign automaker on Indian roads, is hoping to regain market share from increasingly formidable domestic rivals by launching a series of new SUVs as it gears up for a $3 billion public listing in the country. Continue reading “Hyundai plots India SUV rollout as domestic competition mounts ahead of IPO”

Source : PTI | New Delhi: National Road Safety Council member Kamal Soi on Tuesday urged the transport ministry to rehaul the vehicle testing ecosystem in line with the notification on automation of vehicle testing centres issued in 2021. Soi, who is also Chairman of Raahat Foundation, which focuses on road safety, in a press conference, alleged that the vehicle testing centres industry has ballooned into a multi-billion dollar corruption industry that has led to unchecked deaths on the roads due to unfit vehicles.

To expose the rampant unfair practices, he said the Raahat Foundation undertook a pilot study across multiple states like – Uttar Pradesh, Chhattisgarh, Haryana, and Rajasthan, among others. Continue reading “NRSC member urges govt to rehaul vehicle testing ecosystem”

Source : PTI | The Bihar Transport department and traffic police have issued over 16,700 e-challans worth INR 9.49 crore in a week through e-detection system installed in 13 toll plazas in the state for violation of motor vehicle act, officials said. Out of 16,755 e-challans issued by the authorities, 9,676 belonged to vehicles registered in other states while 7,079 e-challans were issued to vehicles registered in Bihar in a week from August 7 to 15, they said.

Additional Director General (ADG) of Bihar Traffic Police Sudhanshu Kumar told reporters on Tuesday, “The state transport department in coordination with traffic police, introduced issuance of e-challan through e-detection system, which has been installed at 13 toll plazas in the state. Vehicle owners of the state without valid insurance, fitness and pollution certificates, will now receive e-challan on their mobile phones through e-detection system. Continue reading “16,755 e-challans worth INR 9.49 crore issued through e-detection system at toll plazas in Bihar”

Source : PTI | Over 200 global players are likely to showcase cutting-edge battery and charging infra technologies at the Bharat Battery Show in January 2025. Industry body India Energy Storage Alliance (IESA), in a statement, said it is organising the Bharat Battery Show at the second Bharat Mobility Global Expo 2025.

According to the statement, the Bharat Mobility Global Expo 2025 led by the Ministry of Commerce and Industry is set to be held on January 17-22, 2025, across three major venues — Bharat Mandapam, Yashobhoomi (IICC) Dwarka, and India Expo Center & Mart, Greater Noida. Continue reading “Over 200 global players to take part in Bharat Battery Show 2025”

Source : PTI | New Delhi: Union Home and Minister of Cooperation Amit Shah on Sunday laid out a comprehensive plan to boost the cooperative sector in Chhattisgarh, focusing on ethanol production, maize cultivation, and expansion of cooperative societies.

Chairing a review meeting in Raipur, Shah emphasised the need for contracts between NCCF, NAFED, and the state government to promote maize cultivation, an official statement said. Continue reading “Shah pushes for ethanol production in Chhattisgarh”

Source : PTI | Mumbai: Drone logistics firm Skye Air Mobility said on Monday it has partnered with Kottayam-based CARiTAS Hospital & Institute of Health Sciences for delivering essential medical supply and diagnostic samples. This partnership is aimed at enhancing healthcare accessibility and efficiency in the region by leveraging unmanned aerial vehicles in the transportation of such supplies, Skye Air said.

The move is expected to significantly reduce delivery times from hours to just 5-7 minutes, ensuring critical medical supplies reach their destinations swiftly and efficiently, it stated.

Continue reading “Skye Air Mobility partners with CARiTAS Hospital to deliver medical supply and diagnostic samples”

Source : PTI | Anil Agarwal-led Vedanta Ltd has prepared a war chest of INR 30,000 crore with recent funds raised through a qualified institutional placement (QIP), offer for sale (OFS) and dividend to pursue further deleveraging and growth, sources said.

Proceeds from the INR 8,500-crore QIP of Vedanta Ltd, HZL’s OFS of INR 3,200 crore, and INR 5,100 crore from the second interim dividend, coupled with existing cash reserves of INR 13,000 crore, will lead to the creation of a INR 30,000-crore war chest after the company receives all the funds, sources said. Continue reading “Vedanta readies INR 30,000-cr war chest to pursue further deleveraging, growth”

(Reuters) – Tesla chief Elon Musk, who also owns social media platform X, said on Monday he feels California should pass an AI bill that would require tech companies and AI developers to conduct safety testing on some of their own models.

“For over 20 years, I have been an advocate for AI regulation, just as we regulate any product/technology that is a potential risk to the public,” Musk said in a post, on X, while calling on the state to pass the SB 1047 bill. Continue reading “Elon Musk voices support for California bill requiring safety tests on AI models”

AMSTERDAM, (Reuters) – Ride-hailing platform Uber has been fined 290 million euros ($324 million) in the Netherlands for sending the personal data of European taxi drivers to the United States in violation of EU rules, Dutch data protection watchdog DPA said on Monday.

Uber has stopped the practice, the DPA added.

“This flawed decision and extraordinary fine are completely unjustified,” Uber spokesperson Caspar Nixon told Reuters in an email. Continue reading “Uber fined in Netherlands for sending drivers’ data to the US”

TOKYO, (Reuters) – Toyota Motor Corp and BMW will upgrade their partnership in fuel cell vehicles, Nikkei Asia reported on Tuesday.

The two automakers are set to sign a memorandum of understanding for the partnership next week, with an official announcement set for Sept. 5, Nikkei Asia reported. Continue reading “Toyota and BMW to upgrade fuel cell alliance, Nikkei Asia says”

WASHINGTON, (Reuters) – The Biden-Harris administration this week is expected to announce final implementation plans for steep tariff increases on certain Chinese imports, and if U.S. industry gets its way, many of the planned duties would be softened.

Manufacturers from electric vehicles to electric utility equipment have asked for the higher tariff rates to be reduced, delayed or abandoned, and for potential exclusions to be greatly expanded. Continue reading “US industry seeks easing of steep Biden-Harris China tariff hikes”

Summary

• Canada to impose 100% tariffs on Chinese-made EVs
• Canada also announces 25% tariff on Chinese steel
• PM Trudeau says more punitive measures possible
• Tesla shares closed down over 3%
• Announcement follows similar move from United States

OTTAWA, (Reuters) – Canada, following the lead of the United States and European Union, said on Monday it will impose a 100% tariff on imports of Chinese electric vehicles and announced a 25% tariff on imported steel and aluminum from China. Continue reading “Canada to impose 100% tariff on Chinese EVs, including Teslas”

BEIJING, (Reuters) – Chinese electric vehicle (EV) giant BYD has signed an agreement with Huawei (HWT.UL) to use the Chinese tech conglomerate’s advanced autonomous driving system in its off-road Fangchengbao EVs, Huawei said on Tuesday.

The Bao 8 SUV under the Fangchengbao lineup will be the first BYD model to sport Huawei’s Qiankun intelligent driving system and go on sale later this year. Continue reading “China’s BYD to use Huawei’s advanced autonomous driving system in off-road EVs”

GDANSK/BERLIN, Aug 23 – Volkswagen’s goal of building 200 gigawatt hours of battery capacity by 2030 is not “set in stone” and the carmaker will monitor how demand for electric vehicles (EVs) develops, its batteries chief told German newspaper FAS on Friday.

“Our goal is realistic, but it is not set in stone. Building battery cell factories is not an end in itself. The expansion of the factories will depend on how the market for electric cars develops,” Thomas Schmall said, according to pre-released excerpts of the interview due to be published in full on Sunday in the Frankfurter Allgemeine Sonntagszeitung. Continue reading “Volkswagen’s battery targets not ‘set in stone’, battery chief tells FAS”

Summary

• Nearly 30 Chinese companies showed off models in Beijing this week
• China has called for mass production of humanoid robots by 2025
• Tesla plans to deploy 1,000 Optimus robots in factories next year

BEIJING, (Reuters) – China dominates the market for electric vehicles. Now it’s chasing Tesla in the race to build battery-powered humanoids expected to replace human workers building EVs on assembly lines. Continue reading “China’s robot makers chase Tesla to deliver humanoid workers”

Summary

• Canadian National workers to return to work on Friday
• Work stoppage at Canadian Pacific still ongoing
• Labour Minister MacKinnon expects trains running within days
• Business groups and companies demanded government action
• Teamsters union says picket lines will remain in place for now

OTTAWA, (Reuters) – Workers at Canadian National Railway will begin returning to work on Friday, the Teamsters union said, hours after the Canadian government moved to end an unprecedented rail stoppage. Continue reading “Canada moves to end rail shutdown quickly; CN workers to return to work”

STOCKHOLM, (Reuters) – Sweden’s AB Volvo has picked Monterrey in northern Mexico as the site for its new North American heavy-duty truck factory and expects construction to cost $700 million, it said on Friday.

Volvo had announced in April that it aimed to build a plant in Mexico to supply the group’s Volvo Trucks and Mack Trucks businesses in the United States and Canada as well as Mack Trucks in Mexico and Latin America. Continue reading “Volvo picks Monterrey for $700 mln Mexico truck plant”

GDANSK/BERLIN, (Reuters) – Volkswagen’s goal of building 200 gigawatt hours of battery capacity by 2030 is not “set in stone” and the carmaker will monitor how demand for electric vehicles (EVs) develops, its batteries chief told German newspaper FAS on Friday.

“Our goal is realistic, but it is not set in stone. Building battery cell factories is not an end in itself. The expansion of the factories will depend on how the market for electric cars develops,” Thomas Schmall said, according to pre-released excerpts of the interview due to be published in full on Sunday in the Frankfurter Allgemeine Sonntagszeitung. Continue reading “Volkswagen’s battery targets not ‘set in stone’, battery chief tells FAS”

BEIJING, (Reuters) – China’s Commerce Ministry met with automakers and industry associations on Friday to discuss raising import tariffs on large-engined gasoline vehicles, sounding a warning as the European Union nears a tariff decision on Chinese electric cars.

The 27-strong bloc is due to vote in October on whether to adopt additional duties of up to 36.3% on Chinese-made electric vehicles on top of its standard 10% import tariff. Continue reading “China meets automakers to discuss import tariffs on large cars ahead of EU tariff vote”

Source : PTI | The Reserve Bank on Thursday modified its e-mandate framework and allowed auto-replenishment of FASTag and National Common Mobility Card (NCMC). The current e-mandate framework requires a pre-debit notification at least 24 hours before the actual debit from the customer’s account.

In June, the RBI announced that auto-replenishment of balances in FASTag and NCMC, which are recurring in nature but without any fixed periodicity, would be facilitated under the e-mandate framework. Continue reading “RBI allows e-mandate for auto-replenishment of FASTag, NCMC”

Source | New Delhi: TVS Motor Company expects the scooter segment to grow further and account for around 40% of the overall two-wheeler sales, its CEO KN Radhakrishnan said on Thursday. The company, which on Thursday introduced the new Jupiter 110, said it has outpaced the industry in scooter sales with a compound annual growth rate (CAGR) of 12% compared with the industry’s 8%.

“Scooter category share is currently around 32%. I am a firm believer that the scooter segment will substantially expand, it may even go to 40% and above, that’s my expectation,” Radhakrishnan told reporters. Continue reading “Expect scooter segment to account for over 40% of 2W sales: TVS Motor”

Source : PTI | Tamil Nadu-based Srivaru Motors on Thursday launched the upgraded version of its premium electric motorcycle PRANA 2.0 priced at INR 2.55 lakh (ex-showroom), a top official said. The Coimbatore-headquartered company aims to sell about 10,000 units besides exporting the products to ASEAN countries (Association of Southeast Asian Nations), Founder and CEO, Srivaru Motors, Mohanraj Ramasamy said here.

Srivaru Motors is backed by NASDAQ-listed SRIVARU Holding Ltd in the United States and had introduced its maiden product — an electric motorcycle PRANA in 2021 with a total capital infusion of USD 15 million, Ramasamy said during an interaction. Continue reading “Srivaru Motors unveils electric bike PRANA 2.0; targets to sell 10,000 units”

Source : PTI | Newly-listed Ola Electric has laid out a roadmap to profitability banking on higher volume, vertical integration of supply chain and in-house produced cells, while it has shelved plans to make electric car, according to company founder and CMD Bhavish Aggarwal.

The company, which forayed into the electric motorcycle segment last week, will build products that Indians need, which are by a vast majority two-wheelers and three-wheelers, he said in an interaction with PTI editors at the agency’s headquarters here. Continue reading “Electric car off the table: Ola Electric CMD Bhavish”

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Battery-storage costs must drop by 15 % year for India to avoid adding new coal capacity: Report WAF Continue reading “WAF Auto News | The Auto World This Week (23rd August 2024)”

Noida (Uttar Pradesh) [India], August 22: JSW MG Motor India and Galgotias University, have entered into a Memorandum of Understanding (MoU) to equip students with modern skills and practical experience in the automotive industry. This collaboration is a key initiative under the MG Nurture Program, designed to bridge the gap between industry and academia by fostering job-ready skills among students. The program is specifically designed for students in Mechanical, Electrical & Electronics, and related engineering disciplines. Continue reading “JSW MG Motor India Joins Hands with Galgotias University to Nurture Engineering Talent”

(Reuters) – Advance Auto Parts said on Thursday private equity firm Carlyle Group would buy its Worldpac unit for $1.5 billion in cash, sending its shares about 11% higher in premarket trade.

Worldpac, a wholesale parts distribution business, generated about $2.1 billion in revenue for the year ended June 30. Continue reading “Carlyle Group to buy Advance Auto Parts’ Worldpac unit for $1.5 bln”

COPENHAGEN, (Reuters) – Sweden’s AB Volvo said on Thursday it had received an order for 300 electric trucks from Danish logistics firm DSV.

The order, one of the largest electric ones for Volvo Trucks to date, represents about 8% of the total 3,800 electric trucks that the Volvo unit has delivered since 2019, it said in statement. Continue reading “Volvo wins order for 300 electric trucks from DSV”

Volkswagen Passenger Cars India has marked a grand start to the beginning of the new year in Kerala. Celebrating the auspicious first day of Malayalam New Year – Chingam, the brand delivered 101 cars to its customers in a single day, showcasing the trust and excitement surrounding the Volkswagen brand in the region. This mega delivery event underscores Volkswagen brand’s commitment to providing exceptional customer experiences and highlights its strong presence in the Kerala market. Continue reading “Volkswagen Passenger Cars India Delivered 101 Cars on the Auspicious First Day of Malayalam New Year-Chingam in Kerala”

Summary

• Stellantis CEO Carlos Tavares starts a 3 day visit in the US to address lagging profit in North America
• Tavares’ visit during his summer break is intended to reassure employees and investors
• North America is group’s profit powerhouse

DETROIT, (Reuters) – Stellantis CEO Carlos Tavares has started a three-day visit in Detroit, where he will seek to develop a strategy to fix the European automaker’s struggling North American operations and reassure employees and investors, two people familiar with the plans said. Continue reading “Stellantis CEO visits US to create plan to reverse lagging profit, sources say”

(Reuters) – The U.S. National Transportation Safety Board has opened an investigation into a crash and fire involving a Tesla electric semi-truck on a California highway, the agency said late Wednesday.

The NTSB will carry out the safety investigation along with the California Highway Patrol authority, it said, in a post on social media platform X. Continue reading “US transport safety board opens investigation into Tesla crash in California”

MEXICO CITY, (Reuters) – Chinese electric vehicle maker BYD has narrowed its list of finalists for the location of a manufacturing plant in Mexico down to three states and is reviewing a range of proposed incentives from them, the firm’s country head said on Wednesday.

Jorge Vallejo, BYD’s Mexico director general, told Reuters the company was reviewing the latest proposals by the candidate states, which have offered “many benefits” including fiscal, land, management and preferential pricing incentives. Continue reading “Chinese EV maker BYD eyes state incentives for Mexico plant”

DETROIT, (Reuters) – Ford Motor on Wednesday said it was killing a planned three-row electric SUV and pushing back a new electric version of its best-selling pickup, the F-150, the latest delay by the U.S. automaker as it focuses on cutting costs to stimulate demand.

Ford, General Motors and other carmakers have delayed or cancelled new electric models to avoid spending heavily on vehicles that consumers are not buying as quickly as anticipated. Continue reading “Ford slows EV plans, delaying pickup and axing three-row SUV, to cut costs”

Source : PTI | India might avoid building new coal plants and could limit its coal capacity to planned levels by 2032 if the cost of battery-storage systems drops by 15 % annually, according to a new report. Nearly 75 % of India’s electricity is generated using coal. However, to meet its goal of reaching net-zero emissions by 2070, the country needs to reduce its dependence on coal and increase the use of renewable-energy sources like solar and wind power.

The challenge is that solar and wind power plants only generate electricity when the sun is shining or the wind is blowing. Therefore, energy-storage systems are needed to store this energy and use it during periods of low generation. Continue reading “Battery-storage costs must drop by 15 % year for India to avoid adding new coal capacity: Report”

Source : PTI | New Delhi: Two-wheeler major Hero MotoCorp is gearing up to expand its scooter range and consolidate its position in the 125 cc bike segment as it looks to grow faster than the competition, according to CEO Niranjan Gupta. The company plans to roll out both petrol and electric scooter trims and also bolster the production capacity of 125 cc bike Xtreme 125R to cater to enhanced demand.

“There will be action on the scooters front and action will be big on both ICE and EV side. The Destini full-body change will be unveiled very soon and then it will be followed by Xoom models – 125cc and 160cc – within this fiscal,” Gupta said in an analyst call. Continue reading “Hero MotoCorp to drive in new scooter trims; bolster production capacity of Xtreme 125R”