Summary

• Company will look at possible plant closures in Germany
• Automaker battling failing competitiveness and investment needs
• Labour controls 50% of supervisory board, can block changes

BERLIN/FRANKFURT, (Reuters) – Volkswagen boss Oliver Blume, already battling slowing demand for electric cars and Chinese rivals, must now put aside his mantle as team player to tackle yet another tough opponent, Germany’s powerful labour unions. Continue reading “From peace-maker to taboo-breaker, VW boss Blume takes on the unions”

BERLIN, (Reuters) – An electric vehicle made in China by Volkswagen’s CUPRA brand would be “wiped out” if the European Commission followed through with planned import tariffs of 21.3% on the vehicle, the brand’s CEO told Reuters.

Raising the price of the Tavascan, an all-electric SUV selling for around 52,000 euros ($57,500), to cover the costs was not an option in the current European economic environment, said Wayne Griffiths, who heads up the SEAT and CUPRA brands under Volkswagen’s SEAT S.A. subsidiary. Continue reading “Exclusive: Volkswagen’s CUPRA ‘at risk’ from planned EU tariffs, says brand CEO”

PARIS,(Reuters) – France’s new car registrations entered a decline last month, as concerns over the economy weigh on consumer appetite.

BY THE NUMBERS

New car registrations in August plunged 24.3% compared with the same month a year ago, data from French car lobby Plateforme de la filière automobile (PFA) showed on Sunday, while registrations for the first eight months of the year shrank by 0.5%. Continue reading “France’s car sales shrink as political turmoil weighs”

QUITO, (Reuters) – General Motors’ factory in Ecuador will shutter production on Friday amid pressure from local competitors, but will still sell vehicles in the Andean country.

The Cadillac and Chevrolet maker said in April it would close its production operations in Ecuador and neighboring Colombia. Continue reading “General Motors Ecuador factory closes doors for good”

BERLIN,(Reuters) – German automaker BMW is recalling electric Mini Cooper SE vehicles due to problems in their batteries, which could potentially affect more than 140,000 autos worldwide, a company spokesperson told Reuters on Monday.

Around 39,000 vehicles could be affected in Germany, the company said in a statement on Monday, adding that there are no known accidents or injuries in this context. Continue reading “BMW worldwide recalling Mini Cooper SE electric models, company says”

Summary

• VW considers one car plant, one component plant in Germany obsolete -works council
• Cost-cutting drive at namesake brand must be extended -VW
• Management ‘compelled’ to end job security programme
• Works council promises ‘fierce resistance’ to plans
• Shares +1.2%

BERLIN, (Reuters) – Volkswagen is considering closing factories in Germany for the first time, in a move that shows the mounting price pressure Europe’s top carmaker faces from Asian rivals. Continue reading “Volkswagen considers historic German plant closures in cost drive”

Source : PTI | The Maharashtra government has hiked fees for “choice numbers,” commonly known as VIP numbers, for new vehicles, which will translate into revised INR 6 lakh charge for the most sought-after ‘0001’ number for four-wheelers in high-demand areas like Mumbai, Pune, and other cities. Interestingly, the new fees mean that an out-of-series VIP number will cost up to INR 18 lakh in major cities including Mumbai and Pune, which incidentally is the cost of new cars in the mid-segment.

As per the transport department’s notification dated August 30, the cost for the coveted number ‘0001’ will rise to INR 5 lakh for four-wheelers, up from the current INR 3 lakh. For two and three-wheelers, the fee will increase to INR 1 lakh, doubling from the existing INR 50,000.

Continue reading “Maharashtra govt hikes VIP number fees; pay INR 6 lakh for ‘0001’ in Mumbai and high-demand areas”

Source : PTI |New Delhi: Union Minister Nitin Gadkari on Monday said state finance ministers should consider reducing Goods and Services Tax (GST) on flex-fuel vehicles to 12 % in the GST Council meeting. Addressing IFGE’s India Bio-Energy & Tech Expo, Gadkari also said there is a need to reduce imports of fossil fuels and encourage the use of biofuel.

“We need support from finance ministers of different states. The (Union) finance minister assured me that we will try to convince all the finance ministers. Continue reading “Gadkari asks state FM’s to consider reducing GST on flex-fuel vehicles to 12 %”

(Reuters) – Mazda on Friday named Tatsuro Omura as the chief financial officer of its North American operations.

Omura previously served as the automaker’s general manager for business structure strategy department in Japan. Continue reading “Mazda North America names Tatsuro Omura as CFO”

(Reuters) – The California Department of Motor Vehicles on Friday issued draft regulations on the operation of autonomous vehicles on highways, paving the way for self-driving trucks to commence long-haul deliveries.

The state agency is planning a framework which would initially require safety drivers for both light- and heavy-duty operations. Continue reading “California issues draft regulations for operating autonomous trucks”

(Reuters) – Ford will recall 90,736 vehicles as engine intake valves in the vehicles may break while driving, the National Highway Traffic Safety Administration (NHTSA) said on Saturday.

The recall impacts certain 2021-2022 Bronco, F-150, Edge, Explorer, Lincoln Nautilus, and Lincoln Aviator vehicles equipped with either a 2.7L or 3.0L Nano EcoBoost engine, the NHTSA said. Continue reading “Ford to recall 90,736 vehicles over engine valve issue, US regulators say”

SANTIAGO, (Reuters) – Mining giant Rio Tinto and Chinese EV-maker BYD are among the six companies eligible to proceed with proposals to develop a lithium project in Chile’s Altoandinos salt flats, state-run mining company ENAMI said on Thursday.

The salt flats in the northern region of Atacama are one of the areas where the Chilean government is aiming to boost lithium production in partnership with the state by kicking off new projects. Continue reading “Rio Tinto, BYD and LG Energy eligible for Chile’s Altoandinos lithium project”

WASHINGTON, (Reuters) – U.S. Trade Representative Katherine Tai on Thursday gave a strong endorsement to Canada’s decision to impose a 100% tariff on Chinese-made electric vehicles and 25% on Chinese steel and aluminum as she finalizes U.S. duties planned at similar rates.

In a statement issued by her office, Tai applauded Canada’s decision to take strong action against China’s “state-directed, unfair, and anti-competitive non-market policies and practices, which threaten the existence of our market-oriented industries.” Continue reading “US trade chief Tai lauds Canada’s steep new tariffs on Chinese EV, metals”

(Reuters) – General Motors was ordered by a federal appeals court to face a class action claiming it violated laws of 26 U.S. states by knowingly selling several hundred thousand cars, trucks and SUVs with faulty transmissions.

The 6th U.S. Circuit Court of Appeals said a lower court judge had discretion to let drivers sue in groups over Cadillac, Chevrolet and GMC vehicles equipped with 8L45 or 8L90 eight-speed automatic transmissions, and sold in the 2015 through 2019 model years. Continue reading “GM must face big class action over faulty transmissions”

NEW YORK, (Reuters) – Elon Musk and his electric vehicle company Tesla won the dismissal of a federal lawsuit accusing them of defrauding investors by hyping the cryptocurrency dogecoin and conducting insider trading, causing billions of dollars of losses.

The decision was issued on Thursday night by U.S. District Judge Alvin Hellerstein in Manhattan. Continue reading “Elon Musk, Tesla win dismissal of lawsuit claiming they rigged dogecoin”

SEOUL, (Reuters) – Uber Technologies Inc’s CEO on Friday expressed commitment to the South Korean market, where it is an underdog to local tech group Kakao and said the platform will attract more taxi drivers for growth.

“The fact is that a taxi driver who uses the Uber app will make more money, will be more busy,” Uber CEO Dara Khosrowshahi told reporters in Seoul. Continue reading “Uber CEO says growth in South Korea promising despite underdog status”

Source : PTI | The two-wheeler industry is expected to witness robust sales in the upcoming festive season, riding on the back of strong revival in rural demand and bountiful monsoon so far, according to TVS Motor Company Senior Vice President – Head Commuter Business Aniruddha Haldar. In an interaction with PTI, he noted that the growth in the two-wheeler industry is also being driven by rising acceptance of scooters in the rural areas.

“In the first few months of this fiscal, we have seen the two-wheeler industry growing at 13%, which is higher than what we have seen in the recent years. Continue reading “Two-wheeler industry expects robust growth in upcoming festive season: TVS”

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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”