Summary
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
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
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”
HONG KONG, (Reuters) – The China Association of Automobile Manufacturers (CAAM) said it firmly opposes a revised draft from the European Union on punitive tariffs for Chinese made electric vehicles, Chinese state broadcaster CCTV reported on Wednesday.
The decision on the tariffs brings “enormous risks and uncertainty” for China’s operations and investment in the EU, the association said, according to the CCTV report. Continue reading “China auto body says EU draft on tariffs for Chinese EVs brings ‘enormous risks’”
BEIJING, (Reuters) – China’s SAIC Motor said on Wednesday it will take further legal measures to protect its rights and interests following the European Commission’s draft findings from its anti-subsidy investigations into Chinese electric vehicles.
SAIC’s 2024 overall sales encountered some short-term fluctuations due to pressure from Europe and the United States, the company said in a statement. Continue reading “China’s SAIC vows to take further measures after EU draft findings on subsidies”
BEIJING, (Reuters) – The European Union’s draft findings from an anti-subsidy investigation into Chinese electric vehicles (EV) lack objectivity and fairness, a Chinese industry body said on Wednesday.
The China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) said it urges the European Commision to proceed from the overall interests of China-EU cooperation, and work with China to reach a balanced solution. Continue reading “Chinese body says EU draft on EV tariffs lacks objectivity, fairness”
BEIJING, (Reuters) – China’s Xiaomi Corp on Wednesday reported higher-than-expected revenue for the second quarter, revealing for the first time its auto business unit’s contribution of 6.2 billion yuan ($869.2 million).
For the three months ending in June, Xiaomi’s revenue rose 32% to 88.9 billion yuan, beating the 85.8 billion yuan estimated by analysts, according to LSEG. Continue reading “Xiaomi Q2 revenue beats estimate, reveals auto unit sales”
(Reuters) – Tesla has issued a recall for about 9,100 Model X sports utility vehicles in the U.S. over a trim on the roof that could separate, it said on Wednesday, its second over the same issue since 2020.
Front and center roof cosmetic trim pieces may be adhered without primer, and could separate from the vehicle creating a road hazard and increasing the risk of a crash, the National Highway Traffic Safety Administration said. Continue reading “Tesla issuing new recall for 9,100 Model X SUVs over trim issue”
Summary
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”
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”
SAN FRANCISCO, (Reuters) – Alphabet’s Waymo said on Tuesday it had doubled its paid rides to 100,000 per week in just over three months as the autonomous ride-hailing firm expanded its areas of service and allowed more people to ride its robotaxis.
Waymo’s expansion comes just a month after Alphabet said it was planning a multi-year $5 billion investment in the company even as autonomous vehicle technology continues to face widespread skepticism, tight regulatory scrutiny and federal investigations. Continue reading “Alphabet’s Waymo robotaxi unit doubles its paid rides in three months”
BRUSSELS, (Reuters) – The European Commission published on Tuesday the draft findings of its high-profile investigation into alleged subsidies for imports of Chinese-made electric vehicles, which included some revisions to proposed punitive tariffs.
The Commission published what it said was its draft definitive tariff decision. This could become the EU’s final measure on Chinese-made EVs once its investigation is concluded in about two months. Continue reading “What happens next in the EU investigation into China-made EVs?”
(Reuters) – Uber Technologies has hired former Tesla executive Rebecca Tinucci to oversee the ride-hailing platform’s shift to electric vehicles, according to an internal memo seen by Reuters on Tuesday.
Uber has a plan to completely electrify its vehicle fleet by 2040 and vowed to invest $800 million through 2025 to help reach its goal. Continue reading “Uber hires ex-Tesla exec Rebecca Tinucci to oversee EV transition, memo says”
Summary
BRUSSELS, (Reuters) – The European Union has slashed its planned extra tariff on Tesla electric vehicles imported from China by more than half, the bloc’s executive said on Tuesday, following further investigations requested by the company. Continue reading “Tesla to get lower EU tariff on its Chinese-made EVs”
Summary
(Reuters) – Stellantis said on Tuesday its planned investments at Belvidere, Illinois, will be delayed but insisted it is committed to moving forward and is not in violation of its union contract. Continue reading “Stellantis delays investment plans for Illinois”
SAN FRANCISCO, (Reuters) – Rivian’s head of manufacturing is leaving the electric vehicle startup to join Stellantis at a time when the maker of Jeep SUVs and Ram pickups is preparing to launch a number of battery powered cars.
Tim Fallon will join Stellantis as its head of manufacturing in North America effective Sept 2, Stellantis said in a statement. Continue reading “EV startup Rivian’s production chief joins Stellantis”
Source : PTI |Leading vehicle manufacturer Ashok Leyland is aiming at single-digit growth in the medium and heavy commercial vehicle (MHCV) business in the current financial year, a senior company official said. President (MHCV), Ashok Leyland, Sanjeev Kumar said that the company has a market share of around 30% in this segment and is the number two player in this category.
“We are aiming at a single-digit growth in the MHCV category in the current financial year. With the economy picking up, we are expecting a robust commercial vehicle (CV) market”, he said. Continue reading “Ashok Leyland aims at single digit growth in MHCV segment”
AUSTIN, Texas, (Reuters) – Toyota may be one of the slowest legacy automakers to develop electric vehicles but it could be the first to jettison cars powered only by gasoline.
Almost three decades after launching the Prius, its pioneering gasoline-electric hybrid, Toyota is moving to convert most, and eventually maybe all, of its Toyota and Lexus line-up to hybrid-only models, two Toyota executives told Reuters. Continue reading “Toyota bets big on hybrid-only models as EV demand slows”
OTTAWA, (Reuters) – For the first time, Canada’s two main railway companies – Canadian National Railway and Canadian Pacific Kansas City – are on the verge of a simultaneous labor stoppage that could inflict billions of dollars’ worth of economic damage.
Contract talks between the Teamsters union and the companies usually take place a year apart, but in 2022, after the federal government introduced new rules on fatigue, CN requested a year-long extension to its existing deal rather than negotiate a new one. Continue reading “Explainer: Why Canada is on the verge of an unprecedented rail labor stoppage”
TOKYO, (Reuters) – Japan’s national and Tokyo governments are seeking a 700 billion yen ($4.7 billion) valuation for Tokyo Metro as they prepare to list the subway operator as early as October-end, three sources said, in what would be the nation’s biggest IPO in roughly six years.
The two governments, which own 100% of Tokyo Metro, plan to arrange a meeting of brokerages within a week for a briefing on the IPO and expect to receive approval for the listing from the Tokyo Stock Exchange as soon as mid-September, the sources said. Continue reading “Railway cars crowd the CN Rail freight depot in Hamilton, Ontario, Canada”
OTTAWA, (Reuters) – Canada’s labor minister will meet with the country’s two main railway companies and the Teamsters union in Montreal on Tuesday and Calgary on Wednesday to try to avert a crippling rail transport stoppage.
Unless labour agreements are reached, both Canadian National Railway and Canadian Pacific Kansas City will shut all freight rail services in Canada at the same time early on Thursday for the first time in history. Continue reading “Canada tells rail companies, union to work harder to avert crippling stoppage”
Summary
YORK, Pennsylvania, (Reuters) – Republican presidential candidate Donald Trump said on Monday that if elected he would consider ending a $7,500 tax credit for electric-vehicle purchases and that he would be open to naming Tesla CEO Elon Musk to a cabinet or advisory role. Continue reading “Trump says he may end EV tax credit; is open to naming Elon Musk as an adviser”
(Reuters) – The United Auto Workers union said on Monday some local units representing workers at Stellantis are preparing to file grievances and could launch a nationwide strike, accusing the automaker of not honoring production commitments.
The UAW said the locals represent tens of thousands of workers and the dispute is over agreements the union said Stellantis made in 2023 as part of a new labor agreement. Continue reading “UAW workers at Stellantis could strike over Illinois plant reopening”
