Summary
BRUSSELS, (Reuters) – The European Union will impose tariffs of up to 37.6% from Friday on imports of electric vehicles made in China, EU officials said, ratcheting up tensions with Beijing in Brussels’ largest trade case yet. Continue reading “China-built EVs hit with duties in biggest EU trade case yet”
Source : PTI | Lithium-ion battery pack manufacturer and recycling company Lohum on Wednesday announced it will invest INR 1,000 crore in the next three years to develop and manufacture manganese-based lithium-ion batteries. Further, the company said it has roped in Tesla veteran Chaitanya Sharma to help in the new project.
Sharma has worked at two of North America’s first gigafactories, Tesla and IM3NY, leading the latter as its CEO.
Continue reading “Lohum to invest INR 1,000 cr in manganese-based battery production”
Source : PTI | New Delhi: Vedanta group firm Hindustan Zinc on Wednesday said it is committed to partner with the country’s auto companies to “unlock zinc potential” and drive India’s mobility. Zinc’s usage in the automotive sector, through galvanised steel, offers significant fuel and emission savings by providing high degree of corrosion resistance to lightweight steel bodies, ensuring durable, long-lasting vehicles with longer anti-perforation warranty against corrosion.
“Our zinc solutions are not only cost-effective and adaptable for complex designs but also environmentally responsible, making zinc a key material for a cleaner and more sustainable tomorrow,” Hindustan Zinc CEO Arun Misra was quoted as saying in a statement. Continue reading “Hindustan Zinc committed to partner with India’s auto firms: CEO”
“Technology is not just a tool; it is the foundation of modern customer experience.” – Brian Chesky, Co-Founder of Airbnb
The prowess of technology in building credibility among customers is simply unmatched. It is the ultimate gateway for thriving companies to optimize their market outreach and obtain efficiency in operations. From product evolution to service expansion, a tech suite can enhance many aspects of business growth.
However, it plays the most pivotal role in streamlining complex internal processes which is why leading automotive enterprises are starting to digitize their operations, including the process of warranty management. From spare part identification and defect analysis to warranty approval, everything can be managed using software applications. Continue reading “Automotive Warranty Management – Setbacks, Solutions & Opportunities for OEMs”
Mumbai: Volkswagen Passenger Cars India announced the commencement of its Autofest Mega Exchange Carnival 2024 that offers customers a chance to upgrade to a new Volkswagen car with exciting benefits and deals available from 3rd July to 20th July 2024. Volkswagen also announced the rebranding of its used car business Das WeltAuto. to ‘Volkswagen Certified Pre-Owned’, in a move that aligns with the Brand’s global positioning. Continue reading “Volkswagen India announces the start of Autofest, Mega Exchange Carnival 2024”
RAYONG, Thailand, (Reuters) – China’s BYD opened an electric vehicle plant in Thailand on Thursday, the automaker’s first factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player.
“Thailand has a clear EV vision and is entering a new era of auto manufacturing,” BYD CEO and President Wang Chuanfu said at the opening ceremony. “We will bring technology from China to Thailand.” Continue reading “China’s BYD opens EV factory in Thailand, first in Southeast Asia”
COPENHAGEN, (Reuters) – Volvo Cars’ sales in June rose 8% to 71,514 cars from a year earlier, underpinned by strong performances in Europe and Latin America as well as for its new fully electric model EX30, the Sweden-based automaker said on Thursday.
Volvo Cars, which is majority-owned by China’s Geely Holding, said in a statement that sales of fully electric and plug-in hybrid models were up 41%, and also account for 48% of its global car sales. Continue reading “Volvo Cars’ June sales rise on fully electric model boost”
SHANGHAI, (Reuters) – Tesla’s best-selling Model Y was included in a list of electric and plug-in hybrid models that a local government in China can purchase as a service car, according to the official Chinese media outlet the Paper on Thursday.
It was the first time Tesla’s cars have been made eligible for government purchases in China, the Paper added. Continue reading “Tesla cars for first time on Chinese government purchase list”
BRUSSELS/LONDON, (Reuters) – EU countries are wavering over whether to back additional tariffs on Chinese-built electric vehicles, highlighting Brussels’ challenge in building support for its largest trade case yet as Beijing threatens wide-ranging retaliation.
Germany, whose carmakers made a third of their sales last year in China, wants to stop the tariffs, according to a government source, while France has been among the firmest backers. Continue reading “EU governments hesitant on Chinese EV tariffs as trade spat escalates”
(Reuters) – Ford on Wednesday joined Detroit peer General Motors in reporting slower sales growth for the second quarter as the U.S. auto industry reels from a cyberattack that impaired a key software system used across dealerships.
The outage at CDK in late June, a crucial selling period, took down its dealer management system at more than 15,000 retail locations, becoming the latest roadblock for U.S. automakers recovering from supply-driven challenges. Continue reading “Ford sales growth slows as CDK cyberattack rattles auto industry”
(Reuters) – General Motors will pay a $145.8 million penalty and forfeit credits worth hundreds of millions of dollars after a U.S. government investigation found excess emissions from approximately 5.9 million GM vehicles, government agencies said on Wednesday.
The Environmental Protection Agency said GM has agreed to give up approximately 50 million metric tons in carbon allowances after the multi-year investigation found vehicles from the 2012-2018 model years were emitting more than 10% higher carbon dioxide on average than GM’s initial compliance reports claimed. Continue reading “GM to pay $145.8 million penalty after US finds excess emissions”
LOS ANGELES, (Reuters) – Opponents of California’s ambitious targets for electric car adoption to lower greenhouse gas emissions took their case to the U.S. Supreme Court this week, the latest salvo against the state’s campaign to fight climate change.
Energy companies, corn growers and industry associations have long opposed strong environmental rules in California, for decades the only state with power to request a waiver from the Environmental Protection Agency (EPA) to set its own vehicle emissions regulations that are more stringent than the federal standard. Continue reading “Foes of California’s electric car targets take their case to US Supreme Court”
Source : PTI | New Delhi: Automotive Tyre Manufacturers’ Association on Wednesday said its members are witnessing a ‘severe crunch’ in the availability of domestic natural rubber and it may disrupt production unless supply issues of the raw material are addressed. Despite high prices of natural rubber (NR), its availability has shrunk, Automotive Tyre Manufacturers Association (ATMA) said, expressing apprehension that some “sections of natural rubber producing interests or trade are withholding the material in anticipation of an increase in the NR prices worsening the availability”.
The “tyre industry has been experiencing tightness in domestic availability of natural rubber for some time. However currently a severe crunch is being witnessed despite the fact that NR prices have touched a multi-year high. The paucity of natural price needs to be addressed at the earliest so that tyre production processes are not disrupted,” ATMA Director General Rajiv Budhraja said in a statement.
Continue reading “Tyre industry facing natural rubber supply crunch, ATMA urges action”
SHANGHAI/BEIJING, (Reuters) – With the clock ticking for the European Commission to impose provisional tariffs on electric vehicles made in China, automakers are bracing for billions of dollars in new costs that analysts expect will slow their European expansion.
The bloc is set to confirm on Thursday extra duties of up to 37.6% aimed to prevent a flood of subsidised China-built EVs into the European market, despite last-ditch efforts to strike a deal. Continue reading “China EV makers brace for tariffs as Beijing, EU engage in talks”
BERLIN, (Reuters) – Germany’s VDA auto association has urged the European Commission to drop its planned tariffs on China-made electric vehicles in a last-ditch effort to influence negotiations ahead of the tariffs which take effect on Thursday.
The association said in a statement on Wednesday the tariffs would hurt European and U.S. carmakers exporting from China and risked retaliation by China with counter-tariffs, which would hit the German industry hard given its high volume of exports to China. Continue reading “German car industry urges EU to drop tariffs on China-made cars”
(Reuters) – The U.S. auto safety regulator on Wednesday closed a recall query covering 420,072 Volkswagen vehicles after the automaker acted to fix a potential fuel leak.
The recall covered certain VW Golf, Jetta and GTI models and the Audi A3 manufactured between 2015 and 2020. It was initially issued in 2016 for a defective suction jet pump inside the fuel tank, which could cause a leak. Continue reading “NHTSA closes recall query into about 420,000 Volkswagen vehicles”
BEIJING, (Reuters) – China’s industry ministry has selected 20 localities, including Beijing and Shanghai, as participants in a pilot programme for application of “vehicle-road-cloud integration” for intelligent connected vehicles.
The country aims to build a unified and shared standard system for “vehicle-road-cloud integration” – aimed at putting smart connected vehicles on the road – by 2026, the ministry said in a statement on Wednesday. Continue reading “China designates pilot areas for ‘vehicle-road-cloud integration’ for smart cars”
BANGKOK, – Thai authorities are investigating BYD’s dealers after a consumer complaint over aggressive discounting in a key international market for the Chinese EV giant that has left some buyers upset with how much they paid for their cars.
The office of the Thai Prime Minister instructed the country’s consumer protection agency to launch the probe. Continue reading “Thailand investigates EV giant BYD’s dealers over unfair discounting complaint”
BRUSSELS, (Reuters) – EU countries are wavering over whether to back additional tariffs on Chinese-built electric vehicles, highlighting Brussels’ challenge in building support for its largest trade case yet as Beijing threatens wide-ranging retaliation.
Germany, whose carmakers made a third of their sales last year in China, wants to stop the tariffs, according to a government source, while France has been among the firmest backers. Continue reading “EU governments waver over Chinese EV tariffs as trade spat escalates”
Source : PTI | EV and energy storage startup Matter Group on Wednesday announced securing USD 35 million in the ongoing Series B funding round led by the US-based problem-solving organisation Helena. The capital will accelerate the company’s efforts in scaling up manufacturing, supply chain, marketing and retail expansion to meet the growing demand for sustainable, high-performance mobility solutions, Matter said in a statement.
The other investors, who participated in this round, include Capital 2B, Japan Airlines, Translink Innovation Fund, Saad Bahwan Investment Management Company (SB Invest) as well as other institutional investors and Family Offices, the EV manufacturer said. Continue reading “Matter Group raises USD 35 mn from US-based Helena, others”
BMW Group India has reported its highest-ever half-yearly car sales, showcasing strong performance in the first half of 2024 (January – June). The company delivered a total of 7,098 cars (BMW and MINI) and 3,614 motorcycles (BMW Motorrad), with BMW alone accounting for 6,734 units and MINI for 364 units. This marks a significant +21% increase in car sales (BMW + MINI) compared to the same period last year.
In the first half of 2024, the company sold 397 units of fully electric BMW and MINI cars. The BMW i7 emerged as the top-selling BMW EV in this period, highlighting the growing interest in sustainable mobility among high-end consumers. Continue reading “BMW Group India Achieves Record Half-Yearly Sales”
DETROIT, (Reuters) – Ford Motor is trying to get more of its managers to buy electric vehicles, according to an internal email the automaker sent last week that was reviewed by Reuters.
The Dearborn, Michigan-based company changed a leasing program it offers to eligible current and former managers, now requiring them to order an electric Mustang Mach-E SUV or F-150 Lightning pickup if they wish to lease a supplemental vehicle. Workers are allowed a set number of leased vehicles, typically one to two, depending on their management level, before ordering a supplemental car. Continue reading “Ford urges its managers to buy more EVs with new leasing policy”
SAN FRANCISCO, (Reuters) – Rivian on Tuesday said it had no plans to produce vehicles with Volkswagen after a media report said the U.S. electric vehicle maker was in early talks with the German automaker to extend a recent partnership beyond software.
Shares of Rivian dipped 1.5% in extended trade. Continue reading “Rivian says no plans to produce vehicles with VW after media report on early talks”
BRUSSELS, (Reuters) – The European People’s Party, the biggest lawmaker group in the European Parliament, will seek to weaken the bloc’s planned 2035 phase-out of CO2-emitting cars, a draft document showed.
The EPP won the biggest share of any lawmaker group in last month’s European Parliament elections with 188 out of the total 720 lawmakers, cementing its influence in the EU assembly. Continue reading “Biggest EU lawmaker group wants 2035 combustion car ban revised, draft shows”
(Reuters) – Top U.S. automakers posted slower sales growth for the second quarter as a cyberattack at software systems provider CDK hit operations at several dealerships during the crucial selling period of late June.
General Motors reported a 0.6% rise in new-vehicle sales, compared with a jump of 19% last year, and said some sales would shift to the current quarter due to the hack. Continue reading “US new-vehicle sales growth slows after CDK cyberattack”
Summary
(Reuters) – Better-than-expected U.S. electric-vehicle sales in the second quarter brought welcome relief to investors after a sharp slowdown in demand triggered by high interest rates, but EV makers still face a bumpy road ahead. Continue reading “Rough road ahead for US EV makers despite upbeat quarterly sales”
Source : PTI | TAFE Motors and Tractors Ltd, the subsidiary of leading tractor maker TAFE Ltd has inked a pact with Germany-based internal combustion engine manufacturer DEUTZ AG to jointly manufacture DEUTZ range of engines in the country. TAFE (Tractors and Farm Equipment) Motors and Tractors Ltd is a subsidiary of world’s third largest tractor manufacturer and city based TAFE Ltd.
“DEUTZ inks cooperation with TAFE, allowing DEUTZ to expand its business in India. As the beginning of a long-term cooperation, TAFE Motors would manufacture up to 30,000 DEUTZ engines in 50-75 hp and 75-100 hp under license to augment and complement the wide range of engines made by the group across emission standards,” a company statement here said on Tuesday.
Continue reading “TAFE Motors, DEUTZ AG ink pact; to expand internal combustion engine biz”
BEIJING, (Reuters) – Tesla’s June sales of China-made electric vehicles fell 24.2% from a year earlier to 71,007, data from the China Passenger Car Association (CPCA) showed on Tuesday.
Deliveries of the U.S. automaker’s China-made Model 3 and Model Y vehicles fell 2.2% from May levels. Continue reading “Tesla’s June China-made EV sales down 24.2% y/y”
Source : PTI | TVS Mobility group on Monday said its subsidiary SI Air Springs has acquired Italy-based automotive components supplier Roberto Nuti Group , which will help it broaden the product range and strengthen its position in the global market. The pact between the two partners includes the 100% purchase of Roberto Nuti Group by TVS Mobility indirectly, through its wholly-owned Indian subsidiary, SI Air Springs Private Limited and investments appropriate to the full re-launch of the company, TVS Mobility group said in a statement.
It also said that both companies will continue to operate normally during the integration period. Continue reading “TVS Mobility arm acquires Italy-based automotive components supplier”
PARIS/SEOUL, (Reuters) – Renault’s electric vehicle unit Ampere said on Monday it would include lithium iron phosphate (LFP) technology in its plans to mass produce EVs, teaming up with LG Energy Solution (LGES) and CATL to build a supply chain in Europe.
Western automakers are under pressure to expand their range of chemical battery technologies to meet the needs of all market segments amid fierce competition from their often cheaper Chinese rivals. Continue reading “Renault’s EV unit Ampere teams up with LGES, CATL on battery technology”
BEIJING,(Reuters) – China’s BYD posted a 21% rise in second-quarter electric vehicle sales, closing the gap with Tesla after handing back the world’s top EV vendor title to the U.S. rival in the first quarter.
BYD sold 426,039 EVs in the April-June quarter, according to Reuters’ calculations based on its monthly sales reports. That is almost 18,000 vehicles fewer than Tesla’s vehicle deliveries for the second quarter, but far closer than the more than 86,000 gap in the prior quarter. Continue reading “China’s BYD posts 21% jump in quarterly EV sales, closes gap with Tesla”
TOKYO, (Reuters) – Four of Japan’s top property and casualty insurers and other financial firms plan to sell around 500 billion yen ($3.1 billion) of shares in Honda Motor, three people said, as the unwinding of cross-shareholding practices accelerates.
Tokio Marine Holdings Sompo Holdings and two units of MS&AD Insurance Group will together offload shares in the automaker, said the people, who declined to be identified because the information has not been made public. Continue reading “Exclusive: Major Japanese insurers to offload $3.1 billion of Honda shares”
Source : PTI | Mercedes-Benz India wants the government to commit to continuity in policies that support electric mobility for the next eight to ten years, for stable and better planning towards zero emission mobility, its Managing Director and CEO Santosh Iyer said on Tuesday. Besides, the company feels that providing the incentives given to electric vehicles to hybrid vehicles will extend the timeline for transition to emission free mobility.
The company, which had increased EV penetration to 6% in the first quarter of 2024, from 2.5% earlier, expects the momentum to carry going forward with three new EV models slated for launch this year, starting with the EQA next week. Continue reading “Want continuity of policy supporting EVs for next 8-10 yrs: Mercedes-Benz India MD & CEO”
(Reuters) – Uber Technologies said on Monday it will bring a yacht service to Ibiza and will introduce different water-transport offerings to other European cities in an effort to address the robust demand stemming from tourism in the continent.
The service named “Uber Yacht” will be available to pre-book on the Spanish island of Ibiza from July 26, and will be made available in August. Continue reading “Uber expands boat services across Europe to capture tourist demand”
BENGALURU, (Reuters) – Carmakers Mahindra & Mahindra and the Indian units of Toyota Motor Corp and Kia Motor reported higher car sales in June, boosted by demand for sports utility vehicles (SUV) even as heat waves weighed on purchase decisions.
Each month, automobile makers in India release wholesale numbers, or vehicle sales, to dealers. The sales numbers are seen as a key indicator of private consumption in India. Continue reading “Indian carmakers post SUV-led June sales growth amid heat waves”
PARIS, (Reuters) – Renault’s EV unit Ampere on Monday said it would include the lithium iron phosphate (LFP) technology in its plans to mass produce electric vehicles, teaming up with suppliers LG Energy Solutions and CATL to build a supply chain in Europe.
Western Automakers are under pressure to expand their range of chemical battery technologies to meet the needs of all market segments amid fierce competition from their often cheaper Chinese rivals. Continue reading “Renault’s EV unit Ampere to bet on LFP technology for EV batteries”
MILAN, (Reuters) – Luxury sports car maker Ferrari on Monday announced two new warranty extension schemes allowing owners of its hybrid models to have the batteries of their vehicles replaced at given times.
The move aims to help owners preserve the resale value of their Ferraris as batteries, which tend to lose efficiency over time, become central to the value of electrified cars. Continue reading “Ferrari launches battery replacement scheme to preserve performance, value of its cars”
(Reuters) – A U.S. Supreme Court decision limiting federal regulatory powers to interpret ambiguous laws could undermine President Joe Biden’s effort to cut tailpipe emissions from the nation’s vehicle fleet, two environmental law attorneys told Reuters.
In a decision released on Friday, the justices ruled 6-3 to overturn a 1984 precedent known as the “Chevron deference” which required judges to defer to reasonable federal agency interpretations of U.S. laws deemed to be ambiguous, like the Clean Air Act. Continue reading “Biden tailpipe emission rules on shakier ground after Supreme Court ruling”
Source : PTI | New Delhi: The Pollution Under Control (PUC) certification centres will continue to operate on Monday across the national capital with petrol pump owners deferring their strike after assurance from the transport minister that their demand for fee hike was being looked into. Petrol pump associations across the national capital had threatened to shut down PUCC centres from Monday.
According to officials, talks were held with petrol pump owners and they were assured that their demands will be looked into. The PUCC fees was last hiked in 2011.
Continue reading “Delhi petrol pumps defer strike after minister’s assurance on PUC certificate fee”
Source : PTI | Toyota Kirloskar Motor on Monday reported its best-ever monthly sales at 27,474 units in June. The company’s total dispatches to dealers increased by 40% last month to 27,474 units, as compared to 19,608 units in June 2023.
Last month, the company’s domestic wholesales stood at 25,752 units, while exports accounted for 1,722 units. Continue reading “Toyota records highest-ever monthly sales in June at 27,474 units”
