DETROIT, (Reuters) – Automaker Stellantis achieved its goal of cutting U.S. inventories by more than 100,000 vehicles late last year, its North American chief said on Friday at the Detroit Auto Show.
Antonio Filosa, who has led the carmaker’s North American operations since last October, detailed efforts to turn around a slumping regional business in the wake of former CEO Carlos Tavares’ abrupt departure. Continue reading “Stellantis reaches goal of cutting US inventory by 100,000 units”
WASHINGTON, (Reuters) – President Joe Biden’s outgoing administration plans to finalize rules next week cracking down on Chinese vehicle software and hardware, U.S. Commerce Secretary Gina Raimondo told Reuters.
In September, the department proposed prohibiting key Chinese software and hardware in connected vehicles on American roads due to national security concerns. That move would effectively bar Chinese cars and trucks from the U.S. market. Major global automakers would have to remove key Chinese software and hardware from vehicles sold in the U.S. in the years ahead. Continue reading “US to finalize Chinese vehicle crackdown rules next week, Raimondo says”
WASHINGTON, (Reuters) – Tesla said on Friday it is recalling about 239,000 vehicles in the United States because rear-view cameras may fail to work.
The development comes days after the National Highway Traffic Safety Administration opened a probe into 2.6 million Tesla vehicles in the U.S. over reports of crashes involving a feature that allows users to move their cars remotely. Continue reading “Tesla recalls 239,000 US vehicles over rear-view camera issue”
CHIBA, Japan, (Reuters) – South Korea’s Hyundai Motor said on Friday it would introduce the cheapest compact electric car in Japan, to penetrate a market dominated by local giants with established petrol and hybrid vehicle technologies.
The Japan launch of the Hyundai Inster follows attempts by Tesla and other foreign brands to enter a country seeing a slow take-up of EVs. With the Inster, Hyundai will take a low-price strategy akin to China’s leading EV maker, BYD. Continue reading “Hyundai launches $18,000 EV in Japan to penetrate EV-wary market”
(Reuters) – Mercedes-Benz’s core car sales fell in 2024, a tough year for the auto industry marked by waning demand in a weak economy, especially in China, the German luxury carmaker said on Friday.
Despite this, Mercedes stock inched higher after the results and was up 4% by 1120 GMT, topping the German blue-chip index DAX. The shares had lost around 15% in value in 2024. Continue reading “Mercedes-Benz 2024 car sales fall in tough year for automakers”
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Source : PTI | MoEVing, an emerging leader in electric logistics, and Safexpress, India’s leading supply chain and logistics service provider, have joined forces in a strategic partnership. This alliance is designed to revolutionise India’s logistics sector by integrating sustainable and eco-friendly transportation solutions into mainstream delivery services. Marked by Safexpress’ strategic investment into MoEVing, this partnership underscores a shared commitment to enhancing environmental sustainability within the logistics industry and planning to have 100% electric vehicles by 2030 for the last mile deliveries.
Through this collaboration, Safexpress aims to reduce its environmental impact and bolster its transition towards greener logistics. MoEVing’s expanding fleet of electric vehicles (EVs), actively serving over 25 cities across an operational area of 375,000 square kilometres, will be pivotal in this transition. Since the beginning of 2021, MoEVing has demonstrated impressive growth, with its fleet growing to more than 3000 vehicles. This growth highlights MoEVing’s rapid expansion and effectiveness in the logistics sector, marking significant strides in eco-friendly transportation solutions. Continue reading “MoEVing and Safexpress join hands for sustainable logistics solutions across India”
Summary
BEIJING, (Reuters) – China’s auto exports are estimated to slow notably this year after holding the export crown for a second year in 2024, with no growth predicted for electric vehicle exports, an auto association official said on Thursday. Continue reading “China’s EV exports seen stalling in 2025”
Continue reading “Mercedes to expand in India’s smaller cities as younger generations splurge”
Summary
LAS VEGAS, (Reuters) – Global auto suppliers are working out how much of their production can be moved to the United States, or closer to it, as a defense against tariffs promised by President-elect Donald Trump, according to industry executives at CES in Las Vegas. Continue reading “Trump’s tariff threat spurs auto suppliers to rethink production plans”
Summary
DETROIT, (Reuters) – The United Auto Workers union is petitioning the National Labor Relations Board to hold an election at a Kentucky battery plant run by a Ford Motor joint venture, the union said in a release Wednesday. Continue reading “Workers at Ford joint venture plant in Kentucky file to hold union election”
LONDON, (Reuters) – British luxury automaker Rolls-Royce said on Wednesday it will invest 300 million pounds ($376 million) to expand its Goodwood plant to focus more on bespoke cars for high-end clients, featuring anything from gold sculptures to mother-of-pearl artwork.
As with other high-end automakers, Rolls-Royce has seen rising demand for high-margin, personalized car content from wealthy consumers. Continue reading “Rolls-Royce to invest $376 million in UK plant to focus on bespoke cars”
Summary
(Reuters) – Washington’s addition of CATL to a list of firms it says work with China’s military could put Tesla founder Elon Musk in a tight spot, challenging how he balances his role in the Trump administration with his ties to China.
CATL, the world’s largest battery maker, is a major supplier of lithium iron phosphate (LFP) batteries to Tesla for its Shanghai factory, the U.S. automaker’s largest. Tesla has been exporting these cars equipped with CATL batteries to other markets such as Europe and Canada. Continue reading “How Washington’s tag on China’s CATL could affect Tesla”
Summary
STOCKHOLM, (Reuters) – The owners of Northvolt voted to continue operations on Wednesday, the company said, while the Swedish electric vehicle battery maker scrambles to find new backers and funding in coming weeks. Continue reading “Northvolt owners vote to stay operating while seeking financial rescue”
Summary
LAS VEGAS, (Reuters) – Sweden’s Volvo Group is proceeding with its planned $700-million heavy-truck factory in Monterrey, Mexico, CEO Martin Lundstedt told Reuters on Wednesday, even as President-elect Donald Trump threatens to impose U.S. tariffs on imports of vehicles and other goods. Continue reading “Volvo CEO says plan for Mexico truck factory ongoing despite US tariff threat”
WILMINGTON, Del., (Reuters) – Tesla directors including Chair Robyn Denholm and James Murdoch got court approval on Wednesday for a settlement worth up to $919 million that requires they return compensation to the carmaker to resolve allegations they overpaid themselves.
The settlement requires Tesla board members including Denholm and Murdoch to return roughly $277 million in cash, $459 million in stock options and to forgo stock options for 2021-23 worth $184 million. The settlement was not covered by insurance, according to a court filing by the shareholder who brought the case. Continue reading “Judge approves Tesla directors’ deal to end excess pay case”
Source : PTI | India Energy Storage Alliance on Wednesday said batteries, irrespective of technology type, must be uniformly taxed at 5% GST like electric vehicles to support the emerging sector. Ahead of the Union Budget, India Energy Storage Alliance (IESA) President Debi Prasad Dash told PTI that the government may consider protecting domestic cells and battery component manufacturers in the wake of an increase in imports of lithium-ion cells, which has risen to INR 24,000 crore in FY24 from INR 18,000 crore in FY23, especially from China.
There is a disparity in the tax structure of batteries, he said, adding GST for lithium-ion batteries is 18%, but other chemistries, like lead acid, sodium, and flow batteries and others, are at 28%. On the other hand, for electric vehicles, the GST is 5%.
Continue reading “Tax all new technology batteries uniformly at 5% GST: IESA”
Source : PTI | More than 40 new product launches are expected at the upcoming Auto Expo which will be held under the umbrella of Bharat Mobility Global Expo 2025 from January 17-22, a government official said on Tuesday. With visas continuing to be an issue, large scale participation of Chinese companies are unlikely although some of them are participating at the expo, Joint Secretary at Ministry of Commerce and Industry Vimal Anand said here at the sidelines of curtain raiser of ‘Bharat Battery Show’ which will also be a part of the Bharat Mobility Global Expo 2025. Continue reading “Over 40 new product launches expected at Auto Expo: Government official”
Source : PTI | New Delhi: The government will come up with a modified scheme by March to provide cashless treatment for road accident victims nationwide, under which they will be entitled to a maximum amount of INR 1.5 lakh per accident per person, Union minister Nitin Gadkari said on Tuesday. According to Gadkari, the scheme will be applicable to all road accidents caused by the use of motor vehicles on any category of road.
Continue reading “Modified scheme to provide cashless treatment for road accident victims nationwide: Gadkari”
Source : PTI | Tyre manufacturing companies are investing INR 100 crore in the Northeast and parts of West Bengal for skill development of growers and creating infrastructure for increasing the quality and production of natural rubber, their association said. The initiative has been undertaken as part of Project Indian Natural Rubber Operations (INROAD), said Arnab Banerjee, the chairman of the Automotive Tyre Manufacturers Association (ATMA). Continue reading “Tyre makers investing INR 100 cr in NE, Bengal for enhancing rubber production, says association”
Summary
LAS VEGAS, (Reuters) – Tesla (TSLA.O), supplier Panasonic Energy plans to eliminate its supply-chain dependence on China for electric vehicle batteries made in the United States, a senior executive told Reuters, calling the shift a “No.1 objective”. Continue reading “Tesla supplier Panasonic Energy says cutting China supply for US business a ‘No.1 objective’”
Summary
MILAN, (Reuters) – Automakers facing tougher European Union 2025 emissions rules are planning to buy carbon credits from electric vehicle companies including Tesla (TSLA.O), and Polestar to avoid hefty fines, an EU filing showed on Tuesday. Continue reading “Automakers to pool CO2 emissions with Tesla, Polestar to meet EU 2025 rules”
Summary
(Reuters) – Washington’s addition of CATL (300750.SZ), to a list of firms it says work with China’s military could put Tesla (TSLA.O), founder Elon Musk in a tight spot, challenging how he balances his role in the Trump administration with his ties to China. Continue reading “How Washington’s tag on China’s CATL could affect Tesla”
Summary
WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration said on Tuesday it has opened a probe into 2.6 million Tesla (TSLA.O) vehicles in the United States over reports of crashes involving a feature that allows users to move their cars remotely. Continue reading “US opens probe into 2.6 million Tesla vehicles over remote driving feature”
(Reuters) – Sales of new passenger cars in Russia increased by 47% year on year to 1.55 million units in 2024, Russian news agencies reported on Saturday, citing industry and trade ministry data.
New sales in 2025 are seen dropping by around 10% to 1.43 million units, Sergei Tselikov, head of Russian analytical agency Autostat, said in December, as high inflation and scrappage fees push prices up. Continue reading “Russia’s new car sales up 47% in 2024, agencies cite industry ministry”
Summary
DETROIT, (Reuters) – U.S. new-car sales in 2024 continued to rise from their pandemic lows, bolstered by replenished inventories, higher incentives and surging demand for hybrid vehicles, automakers reported on Friday. Continue reading “US new car sales rose to five-year high in 2024, helped by hybrids”
SHANGHAI, (Reuters) – China’s Geely Holding Group (GEELY.UL) on Sunday said it aims to sell more than 5 million vehicles annually by 2027, a big jump from 2023, which it hopes to achieve by accelerating consolidation of its sprawling brands and improving efficiency.
The goal represents about 79% growth from 2023, when Geely Holding sold 2.79 million units of passenger cars and commercial vehicles. The group sold 3 million vehicles in the first 11 months of 2024, a 20% growth compared to the same period of 2023. Continue reading “China’s Geely Holding targets over 5 million units of annual sales by 2027”
BEIJING, (Reuters) – China’s Xpeng Motors and Volkswagen have agreed to expand their partnership to cooperate on ultra-fast electric vehicle charging networks in China, the automakers said on Monday.
The companies have signed a memorandum of understanding to open their respective fast-charging networks to each other’s customers, which comprise more than 20,000 charging piles across 420 cities in China, they said in a joint statement. Continue reading “Xpeng, Volkswagen to build ultra-fast charging network in China”
HONG KONG, (Reuters) – Guangzhou-based Pony.ai Inc is seeking to launch its robotaxi services in Hong Kong, joining Baidu in a race to provide services in the city, as the autonomous driving firm looks to expand its operations globally.
Nasdaq-listed Pony.ai plans to provide robotaxi commuting services for airport staff within Hong Kong International Airport before expanding into other urban areas in the city, the company said in a statement late on Friday. It did not provide a time frame for the launch. Continue reading “China’s Pony.ai eyes robotaxi services in Hong Kong, joining Baidu”
Source : PTI | Union Minister of New and Renewable Energy Pralhad Joshi on Saturday said India is ahead of other countries in the field of green hydrogen.
The Union government has floated a tender for the world’s largest green ammonia demonstration project, he said during a visit to a floating solar plant in the Omkareshwar Dam in Madhya Pradesh’s Khandwa district. Continue reading “India is ahead of other countries in green hydrogen sector: Union minister Pralhad Joshi”
Source : PTI | Mobility solutions and financial services providerORIX Corporation India Ltd expects automobile leasing market in India to account for 7-8% of the overall vehicle sales in the next 5-7 years, up from about 2% currently with more younger people joining the workforce, its Managing Director and CEO Vivek Wadhera. With good traction in its business, the company expects 30-35% higher profit this fiscal year compared to the last year, Wadhera told PTI in an interaction.
“If you compare the Indian market to the western market, the overall leasing market in India is 1-2% of the total number of automobiles sold,” he said when asked how the automobile leasing market has been developing in the country.
Summary
DETROIT, (Reuters) – U.S. new-car sales in 2024 continued to rise from their pandemic lows, bolstered by replenished inventories, higher incentives and surging demand for hybrid vehicles, automakers reported on Friday. Continue reading “US new car sales rose to five-year high in 2024, helped by hybrids”
(Reuters) – Rivian surpassed analysts’ expectations for fourth-quarter deliveries on Friday and said its production was no longer constrained by a component shortage, a positive sign for the electric vehicle maker aiming to turn its first profit.
Shares of the California-based company rose nearly 19%. The stock lost more than 40% of its value in 2024. Continue reading “EV maker Rivian beats expectations for deliveries as supply snag eases”
Source : PTI | Force Motors Ltd on Thursday said it has bagged an order for the supply of 2,429 units of ambulances to the Medical Health and Family Welfare Department, Uttar Pradesh. In a regulatory filing, the company said the order is for supply of 2,429 units of BS-VI diesel ambulance to the department. The order is to be executed between December 2024 and March 2025, it said without disclosing the value of the order.
The company in a statement later said that the UP-Government Health Department’s decision to procure 2429 ambulances from Force Motors underscores the state’s commitment to strengthening its healthcare infrastructure. Continue reading “Force Motors bags order for supply of 2,429 units of ambulances up UP govt”
Source : PTI | Stakeholders from the electric vehicle (EV) sector will hold a meeting with Commerce and Industry Minister Piyush Goyal here on January 3 on issues, including infrastructure related to charging and battery swapping, sources said. They said that officials from the Department of Heavy Industries are expected to attend the meeting.
Representatives from Tata, Mahindra, Mercedes-Benz India, Hero MotoCorp, and other companies have been invited to the deliberations, they added.
Continue reading “EV players to meet Piyush Goyal on Friday, discuss infra-related issues”
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(Reuters) – Tesla reported its first decline in annual deliveries on Thursday, as the automaker handed over fewer-than-expected electric vehicles in the fourth quarter and incentives failed to boost demand for its aging line-up of models.
Shares of the company fell 3.5% before the bell, in a sign of investor worries over the challenges facing CEO Elon Musk, who expected promotions including zero-interest financing to power a “slight growth” in deliveries in 2024. Continue reading “Tesla annual deliveries fall for first time as competition hurts demand”
2024 was a groundbreaking year for JSW MG Motor India, marked by resilience, innovation, and a commitment to sustainability. As the year closed, the company celebrated an impressive 55% year-on-year growth in December sales, with 7,516 units sold compared to 4,848 units in December 2023. This extraordinary leap underscored the company’s rapid rise in the competitive Indian automotive market.
Continue reading “JSW MG Motor India Leads EV Sales with 55% Growth in Dec 2024”
Source : PTI | Mid-size motorcycle maker Royal Enfield on Thursday reported a 25% rise in total sales at 79,466 units in December 2024, as compared to 63,387 units sold in the same month a year ago. Domestic sales were at 67,891 units, as against 57,291 units in December 2023, up 19%, Royal Enfield said in a statement.
Similarly, exports jumped 90% at 11,575 units last month, as compared to 6,096 units in December 2023. Continue reading “Royal Enfield sales up 25% at 79,466 units in Dec”
