Summary

• Stellantis CEO spoke at four car show events
• Under pressure to fix US business after big profit warning
• Tavares cited ‘personal reasons’ for not seeking further term as CEO
• CEO did not rule out job cuts to revive business

PARIS, (Reuters) – Stellantis CEO Carlos Tavares alternated between defiance and contrition about the company’s turnaround plans on Monday in a packed schedule of public events at the Paris auto show following a massive profit warning. Continue reading “Stellantis CEO Tavares defends record in Paris over US crisis”

(Reuters) – Global sales of fully electric and plug-in hybrid vehicles rose by an annual 30.5% in September, as China surpassed its record numbers recorded in August and Europe resumed growth, market research firm Rho Motion said on Tuesday.

Gains in the U.S. market have been slow and steady in anticipation of the Nov. 5 election, which makes it difficult to predict future trends in the country, data manager Charles Lester told Reuters. Continue reading “Global EV sales up 30.5% in September as China shines, Europe recuperates”

Summary

• Chinese brands including BYD, Leapmotor unveiling new models
• European automakers out in force to defend home turf
• EU planning tariffs on Chinese-made EVs amid weak market
• BYD warns tariffs will lead to higher prices, deter buyers

PARIS, (Reuters) – Chinese and European automakers went head-to-head at the Paris car show on Monday, with tensions running high as the EU gears up to impose hefty import tariffs on Chinese-made electric vehicles and the industry struggles with weak demand. Continue reading “China-Europe rivalry heats up at Paris car show as EV tariffs loom”

Source : PTI |   will invest INR 30 crore in its subsidiary Kinetic Watts and Volts as it looks to focus on expanding research, development, and manufacturing capabilities of the new venture, the company has said. Pune-based auto component maker Kinetic Energy had in 2022 announced the setting up a subsidiary company to manufacture electric vehicle components such as motors, axles, frames, controllers, and batteries.

“Kinetic Engineering will invest INR 30 crore into its newly formed electric subsidiary, Kinetic Watts and Volts Ltd. This strategic infusion builds upon the company’s initial investment of INR 18.5 crore, raising the total investment to INR 48.5 crore,” the company said. Continue reading “Kinetic Engineering to invest INR 30 cr in subsidiary Kinetic Watts and Volts”

PARIS, (Reuters) – Chinese state-owned carmaker GAC is exploring the manufacture of EVs in Europe to avoid EU tariffs, the general manager of its international business told Reuters on Sunday, joining a growing list of Chinese companies planning local production.

The company is among China’s largest automakers and is targeting 500,000 overseas sales by 2030. It does not yet sell EVs in Europe but will launch an electric SUV tailored to the European market at the Paris Auto Show, kicking off on Monday. Continue reading “Chinese carmaker GAC looks at making EVs in Europe as tariffs loom”

FRANKFURT, (Reuters) – Chinese electric carmaker BYD expects to boost sales in Germany within six months, executive vice president Stella Li said in an interview published on Saturday.

BYD would gain a foothold in Germany in “less than half a year,” Li told the Frankfurter Allgemeine Sonntagszeitung (FAS) newspaper. Continue reading “China’s BYD expects to swiftly lift sales in Germany, executive tells FAS”

Source : PTI | Consumer rights regulator CCPA has slapped a notice on electric two-wheeler manufacturer Ola, as it initiates a class action after over 10,000 complaints related to quality and after-sales service remained unaddressed, according to sources.

The National Consumer Helpline (NCH) has been getting complaints against Ola Electric for the last one year, which were escalated to higher levels at the company for redressal “but there was little interest shown in redressing these complaints”, said a source. Continue reading “Over 10K consumer complaints against Ola Electric in last 1 yr; CCPA issues notice to company”

Source : PTI | IPO-bound Hyundai Motor India Ltd will explore opportunities for exporting its upcoming electric vehicles from the country to other similar markets to enhance its position as a production hub for emerging markets, according to a senior company official. The company is lining up four electric vehicles to be launched in future, including the electric version of its popular SUV Creta by Q4 FY25, in the mass and ‘mass premium’ segments.

“We are a very strong production hub for emerging markets. We are exporting to 80 plus countries. As far as EVs are concerned, it will, of course, depend on the demand but we are always open to look at any product, which we introduce in India, for exporting it to the other market as well,” Hyundai Motor India Ltd (HMIL) COO Tarun Garg told PTI. Continue reading “Will explore electric vehicle export opportunities: Hyundai Motor India”

Source : PTI | Chhatrapati Sambhajinagar Vehicle manufacturer JSW Green Mobility has been allotted 636 acres of land in the Bidkin node of AURIC city and the plant will go into production in the next 12 to 18 months, an official said.

After allotting 827 acres of land to Toyota Kirloskar Motors Private Limited, the administration has issued land to another vehicle production company in the Bidkin node of AURIC (Aurangabad Industrial City). Continue reading “JSW Green Mobility gets 636-acre land to set up manufacturing plant”

NEW YORK, (Reuters) – Electric vehicle startup Fisker received court approval of its bankruptcy liquidation plan on Friday, following last-minute negotiations to preserve the company’s $46 million sale of its remaining inventory of about 3,000 Ocean SUVs.

U.S. Bankruptcy Judge Thomas Horan signed off on Fisker’s bankruptcy plan at a court hearing in Wilmington, Delaware, clearing the company to repay creditors with assets remaining after it sold off its vehicle fleet. Continue reading “Fisker bankruptcy plan approved after deal on vehicle tech support”

Summary

• Northvolt seeks 200 million euros to stabilise finances short-term
• Scania spearheads talks, BMW not involved in fundraising
• Northvolt faces production issues and competition from China
• German government says Heide factory project unaffected

LONDON/BERLIN/STOCKHOLM, Oct 11 (Reuters) – Northvolt is in talks with investors and lenders to secure about 200 million euros ($218 million) in short-term funding, three sources familiar with the matter said, as the Swedish maker of batteries for electric vehicles seeks to stabilise its finances. Continue reading “Exclusive: Northvolt in talks for about 200 million euros in funding, sources say”

COPENHAGEN, (Reuters) – A Swedish district court on Friday upheld a preliminary ruling that Sweden’s postal service Postnord does not need to deliver licence plates to Tesla which are being blocked by the postal workers as part of a wider labour union sympathy strike.

The U.S. car maker faces pressure in the Nordic countries from powerful employee unions backing mechanics from Sweden’s IF Metall union, who went on strike in October of 2023 demanding a collective bargaining agreement with the company. Continue reading “Swedish court upholds ruling against Tesla in labour dispute”

(Reuters) – Polestar’s chief executive said on Friday the company is conducting a strategic review of its operations after reporting a 14% drop in third-quarter electric vehicle deliveries.

Shares of the Swedish company fell over 3%.

Polestar, which is majority owned by China’s Geely [RIC:RIC:GEELY.UL], has been grappling like rival EV makers with weakening demand for its vehicles owing to factors such as high interest rates, prompting consumers to pivot to cheaper hybrid cars. Continue reading “Polestar CEO announces strategic review amid drop in quarterly EV deliveries”

(Reuters) – Trade tensions between China and the West have put a dampener on carmakers’ investment decisions and longer-term outlooks, creating a level of uncertainty in the industry, the CEO of digital mapping specialist TomTom said on Friday.

The European Union is pressing ahead with hefty tariffs on China-made electric vehicles, set to be imposed from next month, while the Biden administration in September locked in steep tariff hikes on Chinese imports, including a 100% duty on EVs. Continue reading “China trade tensions cast shadow on automakers’ investment plans, TomTom CEO says”

LOS ANGELES, (Reuters) – For a businessman who perpetually struggles with broken promises, Elon Musk gave himself quite a to-do list Thursday night at Tesla’s long-awaited Hollywood unveiling of its driverless robotaxis.

His slew of announcements during a 20-minute presentation were short on practical details and prompted investors to push Tesla stock down as much as 10% on Friday. Continue reading “Tesla’s robotaxi event was long on Musk promises. Investors wanted more details.”

Summary

• Cybercab production to start in 2026; to be priced under $30,000
• Operating cost to be 20 cents per mile over time
• Musk also showcased robovan, Optimus humanoid robot

(Reuters) – Tesla CEO Elon Musk showcased on Thursday a long-awaited robotaxi with two gull-wing doors and no steering wheel or pedals and surprised with robovan, betting on a shift in focus from low-priced mass-market cars to robotic vehicles. Continue reading “Tesla CEO Elon Musk unveils ‘Cybercab’ robotaxi”

Summary

• Company had previously said he might remain after contract expired
• Stellantis announces other senior management changes
• Automaker cut its 2024 profit forecast last week
• Earnings and sales in North America have been declining

DETROIT, (Reuters) – Chrysler parent Stellantis confirmed on Thursday that CEO Carlos Tavares would retire at the end of his contract in early 2026 and announced major senior management changes as it struggles to turn around its lagging North American operations. Continue reading “Stellantis CEO Carlos Tavares to retire in 2026 as automaker struggles in North America”

Summary

• Northvolt attempts to sell raw materials, sources say
• Move is latest effort to improve financial position
• Co is Europe’s main hope for a homegrown EV battery maker
• Raw materials director left in Sept.
• Company declines to comment on supply chain strategy

LONDON/STOCKHOLM, (Reuters) – Sweden’s Northvolt is trying to sell off its stockpile of battery-making materials, three sources familiar with the matter said on Thursday, as the company tries to shore up its finances after reining in its ambitions. Continue reading “Exclusive: Northvolt seeks to sell redundant battery materials to raise cash, sources say”

Summary

• Trump calls for new tariffs to prevent Chinese vehicle imports from Mexico
• Trump plans to renegotiate North American free trade deal to address Chinese vehicles
• Trump wants to close loopholes around Chinese autonomous vehicles on US roads

DETROIT/WASHINGTON, (Reuters) – Republican presidential candidate Donald Trump on Thursday proposed making interest on car loans tax-deductible and preventing Chinese automakers from selling vehicles in the United States, in a push to appeal to autoworkers in the final weeks of election campaigning. Continue reading “Trump courts auto workers with car loan tax break, China crackdown”

• Cybercab production to start in 2026, to cost less than $30,000
• Operating cost to be 20 cents per mile over time
• Also showcased Robovan, Optimus humanoid robot

Continue reading “Elon Musk unveils two-door robotaxi”

Source : PTI | Ola Founder Bhavish Aggarwal on Thursday said Ratan Tata ignited the passion for electric vehicles (EVs) in him that led to the establishment of Ola Electric. In a post on X titled “Ratan Tata, my personal hero”, Aggarwal outlined how Tata played a key role in setting up Ola Electric.

“The one story I’d like to share today is his key role in the founding of my second company Ola Electric. One day in 2017 I got a call from him asking me to come to Mumbai. He just said – ‘Bhavish I want to take you somewhere and show you something exciting’,” he stated.

Continue reading “Ratan Tata ignited passion for EVs, inspired to set up Ola Electric: Bhavish Aggarwal”

Source : PTI | Vedanta group firm Hindustan Zinc Ltd on Wednesday said that it has partnered with IIT Madras to develop advanced zinc-air battery technology. Zinc-air batteries offer a cost-effective, rechargeable and durable alternative to expensive and imported lithium-ion batteries.

The collaboration aims to develop a 1 kWh electrically-rechargeable zinc-air battery prototype, Hindustan Zinc said in a statement.

Continue reading “Hindustan Zinc ties up with IIT Madras to develop advanced zinc-air battery tech”

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How Ratan Tata, Humiliated By Ford, Turned The Tables By Acquiring JLR car&bike Continue reading “WAF Auto News | The Auto World This Week (11th October 2024)”

(Reuters) – Stellantis CEO Carlos Tavares is planning a deep management reshuffle amid the automaker’s profit warning, Bloomberg News reported on Wednesday, citing people familiar with the matter.

Tavares has faced mounting pressure to rectify the automaker’s North America operations, where a steep fall in sales and profit have triggered a steep drop in the company’s share price. Continue reading “Stellantis CEO plans major management changes amid rising pressure, Bloomberg News reports”

(Reuters) – Ratan Tata, the former Tata Group chairman who put a staid and sprawling Indian conglomerate on the global stage with a string of high-profile acquisitions, has died, the Tata Group said in a statement late on Wednesday. He was 86.

Tata, who ran the conglomerate for more than 20 years as chairman, had been undergoing intensive care in a Mumbai hospital, two sources with direct knowledge of his medical situation told Reuters earlier on Wednesday. Continue reading “Ratan Tata put India’s Tata Group on the global map”

Summary

• Q3 sales down 13% at BMW, down 3% at Mercedes
• Both report lower sales in China
• BEV sales fall at Mercedes, rise at BMW

BERLIN, (Reuters) – Sluggish demand and stiff competition in China hit third quarter sales at BMW and Mercedes, the German luxury automakers said on Thursday. Continue reading “BMW and Mercedes quarterly sales drop on weak China”

(Reuters) – Tesla aims to stun investors Thursday night with its long-awaited “robotaxi unveil,” a potential milestone after a decade of Elon Musk’s unfulfilled promises to deliver self-driving vehicles.

The automaker is widely expected to showcase a prototype called the “Cybercab” rather than a road-ready driverless taxi. Continue reading “Tesla gambles on ‘black box’ AI tech for robotaxis”

BEIJING, (Reuters) – Sales of U.S. automaker Tesla’s China-made electric vehicles rose 19.2% in September from a year earlier, data from the China Passenger Car Association (CPCA) showed on Wednesday.

Deliveries of China-made Model 3 and Model Y vehicles, which are also exported to various markets including Europe, were up 1.9% from the previous month. Continue reading “Tesla’s China-made EV sales grow 19.2% y/y in Sept”

Summary

• China’s Chery assembles cars in three Russian plants
• Plants used to be owned by rivals that left Russia
• Chery car sales in Russia growing fast, data shows
• Chinese brands account for over half Russia’s new car sales

(Reuters) – Chinese carmaker Chery has started assembling cars in Russia for sale in the country at three factories vacated by Western rivals including Volkswagen and Mercedes five people familiar with the matter told Reuters. Continue reading “Exclusive: China’s Chery assembles cars in Russian plants vacated by Western rivals”

Summary

• Hyundai IPO biggest ever in India, Asia’s biggest in 2024
• Company wants to expand in India; first listing outside S.Korea
• Hyundai aims to make India a manufacturing hub for emerging mkts
• Executive says 30% increase in production seen in 3-4 years

MUMBAI, (Reuters) – Hyundai Motor plans to use proceeds from a record $3.3 billion IPO of its Indian unit to enhance its research efforts and develop new cars, aspiring to transform the South Asian country into a manufacturing hub for emerging markets. Continue reading “Hyundai to use $3 bln record India IPO proceeds for new cars, R&D”

NEW DELHI, (Reuters) – Ratan Tata, chairman emeritus of one of India’s biggest conglomerates, Tata Sons, is in critical condition in intensive care at a Mumbai hospital, two sources with direct knowledge of the matter told Reuters on Wednesday.

Tata, 86, who ran Tata Sons for more than 20 years and is credited with expanding and diversifying the company, said on Monday he was undergoing routine medical investigations due to his age and related medical conditions. Continue reading “Ratan Tata, of India’s Tata conglomerate, in hospital intensive care, sources say”

BERLIN, (Reuters) – Volkswagen brand aims to win back market share with eight new affordable electric models to be rolled out by 2027, brand head Thomas Schaefer told the publication auto motor und sport on Wednesday.

“We have to produce our vehicles profitably and put them on the road at affordable prices,” the publication quoted him as saying. It also reported that the ID.2 small car model would be developed in 36 months instead of 50 months. Continue reading “Volkswagen brand chief: aim to roll out 8 new electric models by 2027”

Summary

• Recall affects 2022-2025 models including Civic, CR-V, HR-V, and Acura Integra
• NHTSA opened probe in March 2023, upgraded investigation in November
• 13 crashes reported, 11 drivers lost control due to steering issue

WASHINGTON, (Reuters) – Honda Motor said Wednesday it is recalling 2 million cars and SUVs in North America over an issue that can make steering more difficult and increase the risk of a crash. Continue reading “Honda recalling 2 million vehicles over steering issue”

ROME, (Reuters) – Carmaker Stellantis is on course to secure Italian government backing for its planned sale of a majority stake in robotics business Comau to One Equity Partners, a source close to the matter said on Wednesday.

So-called golden power legislation gives the government the right to block or set conditions on deals concerning Italian companies that operate in strategic sectors. Continue reading “Stellantis set to secure Italian approval for Comau stake sale, says source”

Source : PTI | Around 1.1 million medium and heavy commercial vehicles (M&HCVs), older than 15 years as of March 31 this year, offer a significant potential for scrappage, ratings agency ICRA said on Tuesday. While the actual scrappage could possibly be lower given the nature of usage of such vehicles, even if a proportion of these vehicles gets scrapped, it can support vehicle sales to some extent by spurring replacement demand, it said.

The Voluntary Vehicle Fleet Modernisation Programme or the Scrappage Policy, announced in March 2021, is being implemented in phases, with effect from April 1 last year. Continue reading “About 1.1 mn old medium & heavy CVs offer significant potential for scrappage: ICRA”

Source : PTI | Union Minister Nitin Gadkari on Tuesday launched the ‘Humsafar Policy’ to provide essential facilities like clean toilets and baby care rooms along the country’s national highways network.

The Humsafar Policy will see the introduction of facilities, such as clean toilets, baby care rooms, provisions for wheelchairs, EV charging stations, parking spaces, and dormitory services at fuel stations, according to a statement. Continue reading “Gadkari launches Humsafar Policy to provide essential facilities on national highways”

GENEVA, (Reuters) – China has taken the first step in initiating a trade dispute with Turkey at the World Trade Organization over its tariffs on imports of electric vehicles, its diplomatic mission said in a statement on Tuesday.

China is facing increasing trade pressures worldwide over its rising exports of electric vehicles, which many countries claim are being heavily subsidized by Beijing to support its sputtering economy. Continue reading “China files complaint against Turkey at WTO over electric vehicle tariffs”