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So, What’s Wrong with the Car Registration Plates at NCR- Delhi ? WAF
Hybrid cars throw lifeline to platinum metals WAF Continue reading “WAF Auto News | The Auto World This Week (13th September 2024)”
With effect from October 1, 2024, there will be a change of baton on the Board of Management of the Volkswagen Passenger Cars brand and on the Board of Management of SEAT S.A. Patrik A. Mayer will take over from David Powels as Chief Financial and IT Officer of SEAT. S.A., while David Powels will take over the responsibilities of Patrik A. Mayer.
“In these times, the finance department is undoubtedly of great importance. As CFO of the Volkswagen brand, Patrik Mayer has made a significant contribution to the structured and successful launch of the performance program. David Powel will build on this. And at the same time – under even more difficult conditions – provide impetus for competitive costs and structures. It is also about leveraging the synergies within the Brand Group Core with the utmost consistency,” says Thomas Schäfer, Member of the Board of Management of Volkswagen AG, Brand Group Core & CEO Volkswagen Brand. Continue reading “Management change in the finance department of the VW brand group”
Volkswagen has entered into a cooperation with the German start-up Revoltech GmbH from Darmstadt. The aim is to research and develop sustainable materials based on industrial hemp. These could be used as a sustainable surface material in Volkswagen models from 2028. The material made from 100% bio-based hemp uses residues of the regional hemp industry. It can be produced on existing industrial plants and recycled or composted at the end of its service life in an automobile. The first presentations of the innovative material have already received a very positive response and feedback from customers.
Kai Grünitz, Volkswagen Brand Board Member for Technical Development: “In our search for new materials, we are very open to new ideas from many different industries. At Technical Development, we place a strong focus on innovative, creative and sustainable solutions for holistic, resource-saving vehicle development.” Continue reading “Imitation leather from industrial hemp: innovative and sustainable material for future car interiors”
Source : PTI | Automobile dealers using demonstration vehicles or demo cars for promoting sales can claim input tax credit (ITC) under the GST law, the has said. However, no ITC would be available if demo cars are used by dealers for their own purpose during the course of the business.
In a circular, the Central Board of Indirect Taxes and Customs (CBIC) said authorised dealers are required to maintain demo vehicles at their sales outlet as per dealership norms which are used for providing trial runs and for demonstrating features of the vehicle to the potential buyers.
Continue reading “Automobile dealers can claim ITC on demo cars used for promoting sales: CBIC”
(Reuters) – The U.S. National Highway Traffic Safety Administration (NHTSA) has opened a preliminary investigation into some electric vehicles manufactured by Vietnam’s VinFast, it said on Thursday, over reports that the Lane Keep Assist System was not functioning correctly.
The investigation into about 3,118 VinFast vehicles follows allegations in 14 reports by drivers of VinFast 2023 and 2024 models that the system “has difficulty detecting lanes on the roadway, provides improper steering inputs and is difficult to override by the driver”, NHTSA said in a statement. Continue reading “US auto safety regulator opens probe into some VinFast cars”
ROME, (Reuters) – Stellantis said on Thursday it would suspend production of the fully electric Fiat 500 small car for four weeks due to sluggish demand.
The global slowdown in sales of electric vehicles (EVs), partly due to diverging policies on green incentives, has pushed automakers worldwide to adjust their EV plans.
“The measure is necessary due to the current lack of orders linked to the deep difficulties experienced in the European electric (car) market by all producers, particularly the European ones,” Stellantis said in a statement. Continue reading “Stellantis pauses production of electric Fiat 500 due to poor demand”
BEIJING, (Reuters) – China’s Commerce Minister Wang Wentao will visit Europe in the coming days for discussions on the European Union’s anti-subsidy case against China-made electric vehicles (EVs) as a vote on imposing more EV tariffs looms.
Wang will hold talks with the European Commission’s Executive Vice President and Trade Commissioner Valdis Dombrovskis on Sept. 19, a spokesperson at the Chinese ministry said at a regular news conference. Continue reading “China’s commerce minister to visit EU as EV tariff vote looms”
MILAN, (Reuters) – Chinese carmaker Chery Auto is ready to spend billions of euros to ensure its Omoda and Jaecoo brands are embraced by European customers within three years, the head of the two brands for the Italian market told Reuters.
Chery Auto is launching Omoda and Jaecoo in Europe this year, with an initial focus on petrol engine vehicles. After sales started in Spain, Italy, Poland and Britain, more countries will be added in the coming months, as well as hybrid and fully electric models. Continue reading “China’s Chery plans investment drive to build Omoda, Jaecoo brands in Europe”
SHANGHAI, (Reuters) – China’s commerce ministry has warned the country’s carmakers of the risks of making auto-related investments overseas at a recent meeting, said two people briefed about the matter, as they seek global expansion to counter slowing growth in their home market.
At a meeting held in early July, the ministry told local carmakers not to invest in India, citing a directive from the central government, “strongly advised” against investing in Russia and Turkey, and used a more gentle tone to highlight risks in building factories in Europe and Thailand, one of the people said. Continue reading “China warns carmakers of risks in building plants overseas, sources say”
WASHINGTON, (Reuters) – General Motors and Hyundai Motor Co said on Thursday they have agreed to explore future collaboration across key strategic areas including potential joint vehicle development, supply chain issues and clean-energy technologies.
The U.S. and Korean automakers said they had signed a non-binding memorandum of understanding to consider ways to “leverage their complementary scale and strengths to reduce costs and bring a wider range of vehicles and technologies to customers faster.” Continue reading “GM, Hyundai Motor to explore joint vehicle development projects”
FRANKFURT, (Reuters) – Volkswagen and union IG Metall will start talks at the end of September over a new labour agreement for six of its German plants after a job security scheme was cancelled by the carmaker earlier this week.
Europe’s top carmaker has clashed with workers over proposals to shut German factories for the first time in its history, which are suffering from high labour and energy costs as well as intensifying competition. Continue reading “Volkswagen, IG Metall union to start talks about new labour deal a month early”
Source : PTI | For 98.1 per cent of respondents from Bengaluru, EV transition of fleets by companies is ‘very important’ to ‘somewhat important’ in reducing air pollution and emissions, according to a study released by Sustainability Mobility Network (SMN) on Monday. The study, ‘Consumer Perceptions & Insights in the Last Mile Delivery Sector for the Transition to Electric Vehicles (EV)’, has also concluded that more than 80 per cent of respondents from Bengaluru are willing to switch to a brand with strong emission reduction commitments.
Last-mile delivery refers to the transportation of goods from its distribution hub to the door of the customer. As of 2024, the last mile delivery sector alone is responsible for the emission of 5 lakh tonnes of CO2, a greenhouse gas, into the atmosphere. Continue reading “98.1% Bengaluru respondents push for EV transition of fleets for last mile delivery: Study”
Source : PTI | JSW MG Motor India intends to move away from conventional internal combustion engine vehicles as it focuses on new energy vehicles for the future, company Director Parth Jindal said on Wednesday. The company, which on Wednesday launched its electric crossover utility vehicle ‘MG Windsor’ — the first launch after JSW Group invested in MG Motor India — has set a target to introduce a new car every four to six months and is eyeing over 50 per cent of its total sales to come from electric vehicles in 2024.
“We want to bank on the new energy vehicles (NEVs). So, whether that is strong hybrid, plug-in hybrid, or battery electric vehicles, these will be the cornerstone of MG going forward,” Jindal said in an interaction with reporters on the sidelines of the launch. Continue reading “Intend to move away from conventional vehicles, focus on NEVs: JSW MG Motor Director Parth Jindal”
BENGALURU, (Reuters) – Ford Motor held talks with India’s Tamil Nadu state to explore producing vehicles for export, the state’s chief minister said, potentially signalling that the U.S. carmaker could restart production in India after exiting the country three years ago.
Ford stopped producing cars in India for domestic sale in 2021 after struggling to boost volumes and pulled the plug on exports in 2022, effectively exiting the world’s third-largest car market which is dominated by Asian rivals. Continue reading “Ford in talks to restart making cars in India for export, minister says”
BANGKOK, (Reuters) – As sales of electric vehicles miss expectations in Southeast Asia’s largest market, Thailand’s main group of manufacturers, comprising large Chinese and Japanese firms, seeks to extend production deadlines set in a government scheme of incentives.
The scheme helped lure investment of more than $1.44 billion in new production facilities from Chinese EV car makers, such as BYD Motors and Great Wall Motor making Thailand a regional hub in turning out electric vehicles (EVs). Continue reading “Exclusive: Thailand’s EV makers seek to renegotiate govt incentives as sales slow”
Summary
KUNSHAN, China, (Reuters) – Spanish Prime Minister Pedro Sanchez said on Wednesday the European Union should reconsider proposed import tariffs on Chinese-made electric vehicles, and urged Brussels and Beijing to find a compromise that avoids a trade war. Continue reading “Spanish PM urges EU to reconsider tariffs on Chinese EVs”
(Reuters) – Stellantis said on Wednesday it would invest more than $406 million in three facilities in Michigan to develop a platform that can be shared for both electric and hybrid vehicles.
One of the facilities, the Sterling Heights Assembly Plant, would become its first in the U.S. to build fully EVs, the Chrysler-parent said. Continue reading “Stellantis to invest over $406 mln in Michigan plants in EV, hybrid push”
BERLIN, (Reuters) – Germany’s largest industrial union, IG Metall, demanded a pay rise of 7% for almost four million workers in the country’s auto, electrical and metal industries as collective bargaining talks got under way on Wednesday.
IG Metall has said it is prepared to strike alongside the talks, potentially piling more pressure on manufacturers already faced with the threat of de-industrialisation, as Europe’s biggest economy struggles to remain competitive as a business location. Continue reading “German union ready to strike as industrial sector pay talks start”
Summary
(Reuters) – BMW cut its 2024 profit margin outlook on Tuesday due to sluggish demand in its key Chinese market and problems related to a braking system supplied by Continental sending the carmaker’s shares to a near two-year low. Continue reading “BMW cuts 2024 outlook on Continental brake issues, shares plunge”
(Reuters) – Lawmakers in the most populous U.S. state approved a proposal that requires automakers selling internet-connected cars to do more to protect domestic abuse survivors, in what appears to be the first measure in the nation addressing the issue to pass a legislature.
As automakers add ever more sophisticated technology to their cars, instances of stalking and harassment using features such as location tracking and remote controls have begun to emerge. Continue reading “California passes requirements on carmakers and domestic violence”
Summary
FRANKFURT, (Reuters) – Volkswagen said on Tuesday it was scrapping a range of labour agreements including a guarantee of jobs until 2029 at six German plants, raising the prospect of redundancies from next year that worker representatives have vowed to resist. Continue reading “Volkswagen scraps decades-old job guarantees, paving way for lay-offs”
Source : PTI | For 98.1 per cent of respondents from Bengaluru, EV transition of fleets by companies is ‘very important’ to ‘somewhat important’ in reducing air pollution and emissions, according to a study released by Sustainability Mobility Network (SMN) on Monday. The study, ‘Consumer Perceptions & Insights in the Last Mile Delivery Sector for the Transition to Electric Vehicles (EV)’, has also concluded that more than 80 per cent of respondents from Bengaluru are willing to switch to a brand with strong emission reduction commitments.
Last-mile delivery refers to the transportation of goods from its distribution hub to the door of the customer. As of 2024, the last mile delivery sector alone is responsible for the emission of 5 lakh tonnes of CO2, a greenhouse gas, into the atmosphere.
Summary
(Reuters) – BMW cut its 2024 profit margin outlook on Tuesday due to sluggish demand in its key Chinese market and problems related to a braking system supplied by Continental, sending the carmaker’s shares to a near two-year low. Continue reading “BMW cuts 2024 outlook on Continental brake issues, shares plunge”
BEIJING, (Reuters) – Chinese electric automaker BYD aims to sell 4 million vehicles this year, Morgan Stanley said in a report on Monday, suggesting an 11% upward revision to the company’s 2024 sales target set earlier this year.
The goal would put BYD almost at par with Ford Motor which ranked sixth by global sales in 2023 with 4.4 million vehicles sold. Continue reading “Chinese EV maker BYD sets higher annual sales target, brokerage report shows”
BEIJING, (Reuters) – China has renewed its offer for talks with the European Commission to address economic and trade frictions to try to ease impending punitive tariffs on China-made electric vehicles.
During a meeting with the European Commission’s director general for trade in Brussels on Monday, Vice Commerce Minister Li Fei said China was willing to engage in dialogue and consultations, his ministry said in a statement. Continue reading “China proposes negotiations with EU to resolve EV tariff dispute”
LONDON, (Reuters) – Mercedes-Benz and U.S. battery startup Factorial are working on a solid-state battery that should dramatically increase electric vehicle range and be ready for production by the end of the decade, the companies said on Tuesday.
The new battery, dubbed Solstice, should extend EV range about 80% above today’s average, with an energy density of 450 Watt-hours per kilogram, the companies said in a statement. Continue reading “Mercedes teams up with Factorial to develop solid-state batteries”
New Delhi, 10 September 2024: At the 64th Annual Convention of Society of Indian Automobile Manufacturers (SIAM) today, the industry focused on “Sustainable Mobility Journey towards Viksit Bharat” wherein prominent leaders and policymakers discussed the pivotal role of sustainable mobility in achieving Viksit Bharat goals by 2047.
In his special message, Hon’ble Prime Minister of India, Shri Narendra Modi, emphasized on the need for the Automobile sector to set an example for others to follow and said, “The road ahead demands that our progress is rapid while also being sustainable. Working on greener and cleaner mobility is a vital step in this direction”. Continue reading “Hon’ble Prime Minister Highlights Vision for Sustainable Mobility at SIAM’s 64th Annual Convention”
Source : PTI | JRG Automotive Industries on Monday said it has formed a strategic joint venture with Japan-based Takagi Seiko Corporation to manufacture parts for two-wheelers and four-wheelers for the domestic market at an investment of USD 15 million. The JV facility to be based at Sampla in Haryana will focus on producing automotive components, including parts for two-wheelers and four-wheelers, leveraging Takagi Seiko’s advanced technologies to enhance component quality for Indian original equipment manufacturers (OEMs), the company said.
It also said the JV has already secured business commitments from reputed OEMs.
Continue reading “JRG Automotive forms joint venture with Japan-based Takagi Seiko”
Source : PTI | Mumbai: Tata Power said on Monday it has set up 50,000 home chargers for electric vehicles pan-India besides over 500 charging points for electric buses across metropolitan cities in the country since April last year, strengthening electric vehicle charging infra in the country and helping faster adoption of e-mobility. Overall, since 2018, a total of one lakh EV chargers have been set up at different locations across the country along with over 1,100 chargers for electric buses in the last five years, it said.
These one-lakh chargers are present across remote corners of the country and are enabling e-mobility adoption through a seamless and reliable charging experience for its customers at the convenience of their homes. Continue reading “Tata Power sets up 50K home chargers for EVs since April’23, says company”
(Reuters) – Norfolk Southern’s CEO Alan Shaw is expected to step down from his role at the railroad company amid an investigation into allegations of potential workplace misconduct, two sources familiar with the matter told Reuters on Monday.
The company said on Sunday that it is reviewing allegations that Shaw violated its ethics policy. Continue reading “Norfolk Southern CEO to step down amid misconduct probe, sources say”
WASHINGTON, (Reuters) – A U.S. regulator said on Monday it is proposing a requirement that some future vehicles be redesigned to reduce the risks of serious or fatal injuries in crashes involving pedestrians amid a rise in such deaths.
The National Highway Traffic Safety Administration said the new rule aims to reduce fatalities for pedestrians who strike the hoods of vehicles, especially in pickup trucks and large SUVs that do not currently meet international pedestrian protections standards. Continue reading “US proposes new vehicle requirement to reduce pedestrian deaths”
Summary
STOCKHOLM, (Reuters) – Battery maker Northvolt said on Monday it would suspend cathode active material production at its gigafactory in Sweden and cut costs under a plan that could lead to job losses as the company scales back its rapid expansion. Continue reading “Swedish battery maker Northvolt mulls job cuts as it seeks to save costs”
KINOKAWA, Japan, (Reuters) – Japanese Tesla supplier Panasonic Energy has finalised preparations for the mass-production of its high-capacity electric-vehicle batteries, the company said on Monday, as it seeks to start supplying the cell to automakers.
Panasonic Energy’s renovated plant in the western prefecture of Wakayama will serve as the main factory for producing the 4680 cells, which the company says have five times the capacity of its smaller 2170 cylindrical batteries. Continue reading “Tesla-supplier Panasonic Energy prepares for high-capacity EV battery production”
Summary
LONDON, (Reuters) – A surge in sales of hybrid cars as electric vehicle take-up slows is set to provide an unexpected boost to demand for platinum group metals (PGMs) in the coming years, similar to the extended lifespan now predicted for coal. Continue reading “Hybrid cars throw lifeline to platinum metals”
Source : PTI | Tolins Tyres Ltd on Friday announced that it has mopped-up INR 69 crore from anchor investors ahead of its initial share-sale opening for public subscription. BofA Securities Europe SA, NAV Capital VCC, Chhatisgarh Investments, Ashika Global Securities, Moneywise Financial Services, Vikasa India EIF I Fund, Invicta Continuum Fund I and Steptrade Revolution Fund are the anchor investors that have been allotted shares.
The company allotted a total 30.53 lakh shares to these investors at INR 226 apiece, which is also the upper-end of the price band. This aggregates the transaction size to INR 69 crore, according to a circular uploaded on BSE’s website.
Continue reading “Tolins Tyres garners INR 69 cr from anchor investors ahead of IPO”
Source : PTI | New Delhi:Auto parts manufacturer Kross Ltd on Friday said it has mobilised INR 150 crore from anchor investors ahead of its initial public offering (IPO). EastSpring Investments, Mathews Asia Funds, LIC Mutual Fund (MF), ICICI Prudential MF, Axis MF, Kotak Mahindra MF, Motilal Oswal MF, Edelweiss MF and Max Life Insurance Company are among the anchor investors.
According to a circular uploaded on BSE’s website, Kross Ltd around INR 150 crore from 19 funds including mutual funds by allotting 62.49 lakh equity shares at INR 240 per equity share — the upper end of the price band. Continue reading “Kross raises INR 150 cr from anchor investors ahead of IPO”
Source : PTI | New Delhi: The Competition Commission of India has approved the National Investment and Infrastructure Fund’s (NIIF) proposal to acquire an additional stake in Ather Energy. The deal was cleared by the competition watchdog under the green channel route.
“The acquirer (India-Japan Fund) proposes to acquire certain Series G Compulsorily Convertible Preference Shares of Ather,” the regulator said in an order.
Continue reading “NIIF gets CCI’s clearance to acquire additional stake in Ather Energy”
PARIS, (Reuters) – Europe’s autos industry could face fines of 15 billion euros ($17.4 billion) for carbon emissions due to slowing demand for electric vehicles, Renault CEO Luca de Meo said on Saturday.
Automakers face tougher EU CO2 targets in 2025 as the cap on average emissions from new vehicles sales falls to 94 grams/km from 116 g/km in 2024. Continue reading “Renault CEO says sector could face billions in fines as EV sales slow”
WASHINGTON, (Reuters) – Chrysler parent Stellantis said Saturday it is recalling 1.46 million vehicles worldwide due to a software malfunction in the anti-lock brake system that can increase the risk of a crash.
The recall includes nearly 1.23 million Ram 1500 trucks from the 2019 and 2021-2024 model years in the United States, as well as about 159,000 vehicles in Canada, 13,000 in Mexico and 61,000 outside North America. Continue reading “Chrysler parent Stellantis recalls 1.46 million vehicles worldwide”
FRANKFURT, (Reuters) – Volkswagen’s CEO, who is pushing for unprecedented cutbacks in the German carmaker’s home market, said change was needed because the European market is shrinking while competition is increasing.
Speaking in an interview in Sunday paper Bild am Sonntag, Volkswagen CEO Oliver Blume said “the pie has become smaller, and we have more guests at the table”. Continue reading “VW boss says European market shrinking amid tougher competition”
