(Reuters) – Stellantis CEO Carlos Tavares’ total compensation in 2023 rose 56% to 36.49 million euros ($39.5 million), the Italian-American automaker with brands including Chrysler and Fiat said on Thursday.

Tavares’ total compensation last year compared to the 23.46 million euros he was awarded for 2022.

Tavares received 23.47 million euros in cash and vested equity in 2023, including a 10 million euro transformation incentive to meet milestones tied to challenges the auto industry is facing on global mobility, technology and the electrification of vehicles. Continue reading “Automaker Stellantis CEO total compensation jumps 56% to $39.5 mln in 2023”

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INDIA

MG Will Present IM L6 Electric Saloon At Geneva Motor Show 2024 WAF

VW Cars Create New National Records in Endurance Testing at NATRAX, Pithampur, MP, India WAF

8 out of 10 people in Delhi admit to drunk driving in this survey HTAuto Continue reading “WAF Auto News | The Auto World This Week (23rd February 2024)”

MG is set to showcase its IM brand and more innovation at the 2024 Geneva International Motor Show. Alongside the highly anticipated debut of the all-new MG3 Hybrid, the spotlight will also shine on the unveiling of the IM brand, heralding a new era of Intelligent Mobility.

IM, short for Intelligent Mobility, represents MG’s foray into the realm of intelligent battery electric vehicles (BEVs), promising to redefine the driving experience with cutting-edge technology and premium offerings. Spearheading this venture is the IM L6 saloon, poised to make its global debut at the prestigious automotive event. Continue reading “MG Will Present IM L6 Electric Saloon At Geneva Motor Show 2024”

Source : PTI | Automobile manufacturer Renault Nissan Automotive India Pvt Ltd has tapped 85%of renewable energy for its operations at the factory near Chennai between July and December 2023, the company said on Thursday. The company is a joint venture between France based Renault and Japan-headquartered Nissan and has a manufacturing facility at Oragadam near Chennai. It has planned to achieve carbon-neutral by 2045. In September 2023, the company managed to utilise 100%of renewable energy for the operations, a company statement here said. Continue reading “Renault Nissan Automotive utilises 85% of renewable energy at TN plant between July-December 2023”

Source : PTI | In a first in the country, the Bus Rapid Transit System (BRTS) corridor in Indore city will soon have only electric buses, a senior official said here on Thursday.

All diesel-run buses plying on the 11.45 km-long route will be replaced by electric buses, municipal commissioner Harshika Singh told reporters. Continue reading “Indore’s BRTS corridor to go green with all-electric bus fleet”

LONDON, (Reuters) – Stellantis said on Thursday it will launch production of medium-sized electric vans in 2025 at its Luton plant in England, providing some long-term certainty for a factory that has been producing vans for 92 years.

The world’s fourth-largest automaker by sales said starting in the spring next year Luton will produce five electric models including the Vauxhall Vivaro Electric, Peugeot E-Expert and Fiat Professional E-Scudo in both right- and left-hand drive versions. Continue reading “Stellantis to start electric van production at UK Luton plant in 2025”

SAN FRANCISCO, (Reuters) – A California regulator has put on hold until June 19 an application by Alphabet’s Waymo to expand its robotaxi services to parts of the Los Angeles area and San Francisco’s peninsula, amid rising safety concerns over autonomous vehicles.

The application has been “suspended for further staff review”, a notification on the California Public Utilities Commission (CPUC) website showed on Wednesday. It was unclear when the notification was posted. Continue reading “California puts Waymo robotaxi expansion application on hold until June 19”

(Reuters) – BMW of North America is recalling 79,670 vehicles in the United States due to likely issues with its integrated brake system, the National Highway Traffic Safety Administration (NHTSA) said on Thursday.

Continue reading “BMW of North America to recall 79,670 vehicles, says US regulator”

BERLIN, (Reuters) – Any move by the European Union to increase protectionism against China would be a destructive move for an economic region like Europe, Mercedes-Benz CEO Ola Kaellenius said on Thursday after the carmaker published its quarterly results. Continue reading “Mercedes CEO warns EU against protectionism in response to China”

Summary

• MB to update combustion engine cars as EV demand slows
• Plug-in hybrids to “stay relevant” for several years: CEO
• Trade tensions, supply chain costs to weigh on this year
• Targeting up to 50% electrified sales by 2030

STUTTGART, (Reuters) – Mercedes-Benz on Thursday toned down expectations on EV demand and said it will update its combustion engine lineup well into next decade, becoming the latest carmaker to flag a slower than expected appetite for electric cars. Continue reading “Mercedes-Benz to update combustion engine cars amid EV demand slowdown”

BERKHAMSTED, England, (Reuters) – Electric vehicle drivers unable to install a charger at home are turning instead to stopgaps offered by U.S. and European firms as alternatives to often expensive or inconvenient public charging points.

The solutions include online platforms allowing people to rent out their chargers, “pavement gullies” for properties with no driveways and even mobile charging.

While such services could put a dent in the global public charging infrastructure problem, they will not achieve the massive scale required to solve it any time soon. Continue reading “EV charging void has drivers trying new routes to power up”

WASHINGTON, (Reuters) – The United Auto Workers (UAW) said on Wednesday it would commit $40 million to organizing non-union automobile and EV battery workers in the United States over the next two years.

The UAW said in November it was launching a first-of-its-kind push to publicly organize the entire non-union auto sector in the U.S. after strikes helped workers win record new contracts with the Detroit Three automakers.

The UAW represents about 146,000 workers at the Detroit Three and about 800 at a joint-venture battery plant in Ohio. There are more than a dozen additional U.S. battery plants in the works by Toyota, BMW, Mercedes-Benz, Honda and others. Continue reading “UAW commits $40 million to organizing US auto, EV battery workers”

STOCKHOLM, Feb 21 (Reuters) – Swedish trade union Seko said on Wednesday members may stop installing and servicing Tesla’s charging stations in the country in support of union IF Metall’s conflict with the U.S. carmaker over collective agreements.

Tesla is facing pressure in the Nordic countries from powerful employee unions backing Swedish IF Metall’s mechanics who went on strike in October last year demanding a collective agreement with the company.

“The fight that IF Metall is now taking is important for the entire Swedish collective agreement model,” Seko president Gabriella Lavecchia said in a statement. Continue reading “Another Swedish union warns of action against Tesla”

(Reuters) – Electric vehicle startups Rivian and Lucid forecast 2024 production well below analyst estimates on Wednesday as persistently high borrowing costs keep consumers from buying relatively pricier battery-powered cars.

Amazon.com-backed Rivian also said it would cut its workforce by 10%.

Shares in Rivian and Lucid plummeted 15% and 8% respectively after the announcements – the latest signs of a slowdown in EV demand flagged by automakers including Ford, General Motors and market leader Tesla. The plateauing demand sparked a price war last year as companies drained margins to woo customers. Continue reading “Rivian, Lucid’s 2024 production targets disappoint as EV demand wanes”

Source : PTI | The Delhi government on Tuesday issued fresh guidelines for handling end-of-life vehicles in public places, stipulating a penalty of INR 10,000 for four-wheelers and INR 5,000 for two-wheelers to be imposed on owners of impounded vehicles before being released. According to the guidelines, continuous enforcement drives should be conducted to phase out such vehicles from public places in the national capital and daily reports sent to the environment department for onward submission to the Commission for Air Quality Management (CAQM).

The government has classified the release procedure of impounded vehicles under two categories — those who wish to shift their vehicle out of Delhi-NCR and those who wish to park the vehicle in private spaces which are not shared parking places. Continue reading “Delhi govt issues guidelines for handling end-of-life vehicles in public places”

Source : PTI | The Competition Commission of India (CCI) on Tuesday said it has approved Minda Corporation’s proposed 8.79% stake purchase in Pricol. Minda Corporation is in the business of manufacturing of auto components and caters to Original Equipment Manufacturers (OEMs) and Tier-1 in various segments in India.

The proposed combination relates to an acquisition of up to 8.79% (approx.) of the equity share capital of Pricol by Minda, according to a release. Continue reading “CCI approves Minda Corporation’s stake purchase in Pricol”

Source : PTI | Over one-third of India’s export of oil products to the G7-led coalition countries was derived from Russian crude, a European think-tank said, highlighting how the partners shunned buying Russian crude and imposed price caps but a loose policy on refined product allowed third countries to use Russian oil and legally export products to them. While there are no restriction or sanctions on buying/using Russian crude oil and exporting fuels such as diesel derived from it, the Group of Seven (G7) rich nations, the European Union and Australia – called the price cap coalition countries – first set a crude price cap of USD 60 per barrel starting December 5, 2022 and later on products like diesel to keep market supplied while limiting Moscow’s revenue.

This was aimed at punishing Russia for its February 2022 invasion of Ukraine by depriving it of oil revenues while averting a surge in prices that could occur if Russian oil stopped flowing to global markets.

Continue reading “India exported USD 6.65 bn oil products derived from Russian oil to sanctioning nations: Report”

Source : PTI | The West Bengal Industrial Development Corporation (WBIDC) on Monday moved the Calcutta High Court, challenging an arbitration award to Tata Motors Ltd on account of loss of capital in investments made in the abandoned car manufacturing plant at Singur. The court of Justice Mousumi Bhattacharya, before which applications by WBIDC for a stay on the award and an appeal challenging the arbitration award were listed for hearing, released both the matters on Monday.

These will be placed before the Chief Justice of the high court for fresh listing before another bench. Continue reading “WBIDC moves Calcutta HC challenging arbitration award to Tata Motors over abandoned Singur plant”

BERLIN, (Reuters) – Tesla’s ambitions to expand its German plant hit a roadblock when citizens voted against a motion to raze down trees and make way for the larger site, the mayor of Gruenheide said to Reuters on Tuesday.

While not binding, the vote is a further obstacle for the U.S. EV maker’s plans to double the site’s capacity to 100 gigawatt hours of battery production and 1 million cars per year, setting it up to dominate Europe’s EV market. Continue reading “Tesla faces rejection from locals for plans to expand German site”

WASHINGTON, (Reuters) – Ford Motor Co on Tuesday said it had cut prices on its Mustang Mach-E electric SUV by up to $8,100 after sales fell sharply in January.

The No. 2 U.S. automaker’s lowest-price 2023 model year Mach E version now has a suggested retail price of $39,895, down from $42,995. The higher-end Mach-E GT spec will cost about $7,600 less, at $52,395. Other versions including the extended-range premium version will drop in price by $8,100 to $48,895. Continue reading “Ford cuts prices of electric Mustang Mach-E by up to $8,100”

DETROIT, (Reuters) – Stellantis could build electric vehicles based on technology from Chinese affiliate Leapmotor in Europe, North America or other markets where it needs competitively-priced models to compete with Chinese EV makers, Chief Executive Carlos Tavares said on Tuesday.

“At one point in time, Western governments may be tempted to block Chinese exports,” Tavares said. “We have the opportunity to assemble Leapmotor cars inside the bubble. It could be Europe it could be North America.” Continue reading “Stellantis could build Leapmotor EVs in Europe, North America”

TOKYO, (Reuters) – Japan’s Kyushu Electric Power will wait until after the United States resumes issuing export licences for new liquefied natural gas (LNG) projects before deciding on whether to invest in the Lake Charles project, an executive said.

U.S. President Joe Biden froze approvals for LNG exports from new projects late last month to big markets in Europe and Asia in order to take a “hard look” at environmental and economic impacts of the booming business. Continue reading “Exclusive: Japan’s Kyushu Electric to wait for US LNG policy clarity on Lake Charles”

Source : PTI | New Delhi: Car sharing marketplace Zoomcar on Tuesday said it has partnered with electric vehicles self-drive rental firm SPARKCARS with a plan to introduce over 1,000 EVs on its platform across India within the next two years. The partnership will help increase the supply of EV cars available for self-drive to meet the growing needs of convenient and independent travel, the company said in a statement.

“Zoomcar and SPARKCARS will introduce over 1,000 electric vehicles to Zoomcar’s platform across India within the next two years. These additions will include popular models such as the TATA Nexon, Mahindra XUV 400, Citroen eC3, and many others, offering users a diverse array of eco-friendly options for their mobility needs,” it said. Continue reading “Zoomcar, SPARKCARS join hands for EV self-drive, to add 1,000 cars in 2 years”

Spreading Joy with customers, announces special offers & benefits for a limited time period

Vadodara, 20^th February 2024: Wardwizard Innovations & Mobility Limited (WIML), one of the leading manufacturers of electric two-wheelers under the brand ‘Joy e-bike’ and three-wheelers under the brand ‘Joy e-rik’ in India, today achieved a major milestone of crossing 100,000 electric two-wheeler sales in India. The company rolled out its 100,000^th unit, Mihos from its state-of-the-art manufacturing plant in Vadodara to mark the achievement. Continue reading “Joy e-bike achieves new milestone; surpasses 100,000 units sales of Electric Two Wheelers”

(Reuters) – Japan’s transport ministry is preparing action against a Toyota Motor Corp affiliate for cheating engine emissions tests, including possibly withdrawing certification for some engine types, Nikkei reported on Monday.

The ministry will order Toyota Industries, the world’s largest manufacturer of forklift trucks, to take steps to prevent a “recurrence of the misconduct”, the newspaper reported, citing people familiar with the matter. Continue reading “Toyota Industries faces crackdown for engine emissions cheating – Nikkei”

(Reuters) – Chipmaker Nvidia is replacing Tesla as Wall Street’s most traded stock, adding to its prominence after becoming the third-most valuable U.S. company and showing more evidence of how central AI-related bets have become to investors. Continue reading “Nvidia dethrones Tesla as Wall Street’s most traded stock”

TOKYO, (Reuters) – Japan’s Kyushu Electric Power will wait until after the United States resumes issuing export licences for new liquefied natural gas (LNG) projects before deciding on whether to invest in the Lake Charles project, an executive said.

U.S. President Joe Biden froze approvals for LNG exports from new projects late last month to big markets in Europe and Asia in order to take a “hard look” at environmental and economic impacts of the booming business. Continue reading “Exclusive: Japan’s Kyushu Electric to wait for US LNG policy clarity on Lake Charles”

WASHINGTON, (Reuters) – U.S. President Joe Biden’s administration is set to ease proposed yearly requirements through 2030 of its sweeping plan to aggressively cut tailpipe emissions and ramp up electric vehicle sales, two sources told Reuters on Sunday.

Automakers and the United Auto Workers had urged the Biden administration to slow the proposed ramp-up in EV sales. They say EV technology is still too costly for many mainstream U.S. consumers and that more time is needed to develop the charging infrastructure. Continue reading “US to soften tailpipe rules, slow EV transition through 2030”

(Reuters) – The U.S. National Highway Traffic Safety Administration (NHTSA) has opened a preliminary probe into claims of unintended vehicle movement in about 4,000 of Fisker’s 2023 Ocean electric sport utility vehicles, the agency said on Friday.

The NHTSA’s Office of Defects Investigation received four complaints “alleging unintended vehicle movement” related to the 2023 Ocean model.

The complaints alleged an inability to shift into the park mode or into the intended gear, which could result in an unintended vehicle movement, the U.S. auto safety agency added. Continue reading “Fisker’s 2023 Ocean vehicles face NHTSA’s preliminary probe”

Source : PTI | Two full-fledged semiconductor fabrication plants are going to come up in India very soon entailing multi-billion dollar investment besides several chip assembly and packaging units, Minister of Electronics and IT Rajeev Chandrasekhar said. In an interview with PTI, the minister confirmed that the two projects include a USD 8 billion proposal submitted by Israel-based Tower Semiconductors and the other from Tata Group.

“I am happy to share this with you and you are probably the first one I’m sharing this with. In the near term, two full-blown fabs are going to come up in India. These are going to be multi-billion-dollar fabs in the 65, 40 and 28-nanometer technology and there are going to be a host of other packaging proposals that we are evaluating,” Chandrasekhar said.  Continue reading “Two full-blown multi-billion dollar semiconductor plants going to come up in India: MoS IT”

Source : PTI | With the negotiations for the proposed India-UK free trade agreement reaching an advanced stage, the Prime Minister’s Office reviewed the progress of the talks on February 16, sources said. Commerce and Industry Minister Piyush Goyal and Commerce Secretary Sunil Barthwal were also present in the meeting, they said.

“The talks for the agreement are at a crucial stage now. About three reviews have happened so far at the highest level,” they said, adding both countries are working to iron out differences on the remaining issues.

Continue reading “Progress of India-UK trade pact talks reviewed at highest level”

IMOTSKI, Croatia, (Reuters) – Local Croatian sculptor Roko Drzislav Rebic is carving a life-sized stone replica of a Mercedes Benz Minika car as a monument to the thousands of workers who left their homeland in search of a better fortune abroad.

The Mercedes came to be known as a symbol of success for those workers, who would drive home in their cars to show they had made money after fleeing poverty and unemployment. Continue reading “Small Croatian town builds stone Mercedes monument for migrant workers”

LONDON, (Reuters) – China’s CMOC Group overtook Glencore to become the world’s largest producer of cobalt last year as it ramped up its new Kisanfu mine in the Democratic Republic of Congo.

The company’s production leapt by 174% year-on-year to 55,526 metric tons, accounting for over a quarter of global demand of 213,000 tons.

Kisanfu, in which Chinese battery giant CATL owns a minority stake, has flooded the cobalt market. The Cobalt Institute estimates global production exceeded demand by 12,500 tons in 2023, making it one of the “biggest surpluses in recent years”. Continue reading “West challenges China’s critical minerals hold on Africa”

Source : PTI | The domestic two-wheeler industry is expected to witness a double-digit revenue growth next fiscal with demand for premium models anticipated to gain further momentum, according to Hero MotoCorp CEO Niranjan Gupta. The country’s largest two-wheeler maker, which reported a total income of INR 10,031 crore in the October-December quarter this fiscal, also expects the entry level segment to do better going ahead.

“As far as the demand is concerned, as we have been saying, we do expect the industry to grow double digit on revenue in the coming year at the least,” Gupta said in an analyst call.

Continue reading “Expect 2W industry to see double-digit revenue growth next fiscal, says Hero MotoCorp CEO”

Source : PTI | New Delhi: With quicker adoption of liquified natural gas (LNG) becoming a centre point in government’s gas policy and to control greenhouse gas (GHG) emissions, leading city gas distributor (CGD) Adani Total Gas Ltd has identified this super-chilled fuel to fuel its growth. Adani Total Gas Ltd (ATGL) is aiming to increase the adoption of LNG as the primary fuel for long-haul commercial vehicles, replacing diesel, through an ecosystem approach, a senior company official said.

This includes strategic tie-ups with various stakeholders like auto ancillaries, Original Equipment Manufacturers (OEMs), fleet operators, end-use industry, and retrofitment players to advocate for quicker adoption of the fuel.

Continue reading “Adani-Total Gas betting big on LNG”

Source : PTI | The Agra railway division on Friday successfully tested an automatic braking system installed in eight-car Vande Bharat trains as part of the indigenously developed anti-collision device ‘Kavach’, an official said. “In the first-ever trial, the loco pilot did not apply the brakes and still the train, running at a speed of 160 kmph, automatically stopped 10 metres before the red signal. This parameter will now be freezed for all eight-car Vande Bharat trains across the country,” Agra Railway Division PRO Prashasti Srivastava told PTI.

All Vande Bharat trains are fitted with a ‘Kavach’ system which can apply brakes on its own in case the loco pilot fails to do it due to any reason. Continue reading “Vande Bharat train, running at 160 kmph, stops automatically before red signal in first ‘Kavach’ trial”

San Francisco,  (Reuters) – The head of hardware at General Motors’ Cruise self-driving unit, Carl Jenkins, said on Thursday he had resigned from the company, the latest in a series of departures since the company suspended U.S. operations in October.

Jenkins, the senior vice president for autonomous vehicle platforms, is leaving after six years with the company, he said in a post on LinkedIn. Continue reading “GM’s Cruise hardware chief resigns in latest exit after operations suspended”

Feb 16 (Reuters) – Volkswagen on Friday said group deliveries rose 13.3% in January to 698,200 vehicles, with China the leading growth region.

The German automaker’s sales in China jumped 43%, while the group saw the biggest decline in its “Asia-Pacific Rest” region with 16.3%.

Sales rose by 8.2% in Central and Eastern Europe. Continue reading “China boosts Volkswagen’s January deliveries, up 13%”