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”

(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”

MEXICO CITY, (Reuters) – German carmaker Audi’s Mexico unit said on Friday it reached an agreement with union workers in the country for a salary increase of 7%, plus a 3.2% increase in benefits for 2024, after workers launched a strike in January.

Labor Minister Marath Bolanos said on social media platform X that workers would vote on the agreement with Audi, a unit of Volkswagen , on Sunday.

The agreement would resolve a workers strike that began Jan. 24 after, according to Audi, the union declined the carmakers’s offer for a 6.5% salary raise and asked for a 15.5% increase. Continue reading “Audi Mexico, union reach agreement for salary increase”

ROME, (Reuters) – The Italian government buying a stake in Fiat-parent Stellantis (STLAM.MI), opens new tab is not on the cards, but could be if the automaker requested it, industry minister Adolfo Urso said on Friday.

Urso raised the prospect of Rome buying shares in Stellantis on Feb. 1 amid a spat over the company’s commitment to Italy, but since then both parties have made conciliatory remarks to ease tensions. Continue reading “Italy stake in Stellantis not on agenda for now, minister says”

Source : PTI | The country needs investments worth INR 30 lakh crore over six fiscal years to meet its carbon emission reduction commitments made at the UN climate change conference, an official statement said on Thursday. India has set the target of having 50% of its power generation capacity from non-fossil fuel sources. The government also aims to become a net zero carbon emitting country by 2070.

The investments would be required in manufacturing of capacity for solar, electrolysers, wind and battery, transmission, green hydrogen, solar, hydro, wind, and waste to energy sectors, said Pradip Kumar Das, CMD of Indian Renewable Energy Development Agency, at a webinar organized by the World Bank. Continue reading “India needs INR 30 lakh cr investments in 6 years to meet its emission cut commitment: IREDA chief”

Source : PTI | Uttar Pradesh recorded the highest number of vehicle sales in October-December 2023, followed by Maharashtra, Gujarat and Tamil Nadu, according to Society of Indian Automobile Manufacturers. As per data from Society of Indian Automobile Manufacturers (SIAM), Uttar Pradesh clocked a total sales of 8,22,472 units across passenger and commercial vehicles; and two and three-wheeler categories.

Maharashtra was second with 6,88,192 units across the four categories followed by Gujarat with 4,21,026 units and Tamil Nadu 4,19,189 units in the quarter. Continue reading “UP emerges as top state in total vehicle sales in Oct-Dec 2023; Maharashtra 2nd: SIAM”

Source : PTI | A drone on way to deliver a package hit a dish antenna, triggering a scare in a residential locality here. The incident took place in G Block of South City 2 residential area around 5 pm on Thursday, police said.

The drone was being flown by Skye Air at a time when prohibitory orders were in force due to Chief Minister M L Khattar’s visit in the district and a case has been registered against the company, they said.

Continue reading “Drone carrying package crashes in Gurugram locality; FIR against company”

Source : PTI | Emphasising the importance of coal and lignite gasification projects in India’s energy transition, Union Coal Secretary Amrit Lal Meena on Friday said the union government intends to take up these projects on very high priority.

Meena addressed an industry interaction meeting organised by the Ministry of Coal here, on ways to promote coal, and lignite gasification projects across the country. The Centre has recently approved schemes for the promotion of coal and lignite gasification under which the private sector and public sector undertakings have been envisaged to take up new projects for setting up coal and lignite gasification projects, he told reporters. Continue reading “Union govt intends to take up coal, lignite gasification projects on high priority: Coal secretary”

Source : PTI | On the legal status of ‘bike taxi’, the road transport ministry has clarified that motorcycles fall within the definition of ‘contract carriage’ as per the Motors Vehicles Act, 1988. A contract carriage, according to the MV Act, is a vehicle carrying passengers for hire under a specific agreement.

The Ministry of Road Transport and Highways (MORTH), in an advisory to states, said that it has been brought to its notice that certain states/UTs are, while processing applications for grant of permits, taking the view that ‘motorcycle’ is not eligible to ply under contract carriage or operate as a transport vehicle.

Continue reading “Road ministry clarifies legal status of bike taxis”

Source : PTI | The country needs investments worth INR 30 lakh crore over six fiscal years to meet its carbon emission reduction commitments made at the UN climate change conference, an official statement said on Thursday. India has set the target of having 50% of its power generation capacity from non-fossil fuel sources. The government also aims to become a net zero carbon emitting country by 2070.

The investments would be required in manufacturing of capacity for solar, electrolysers, wind and battery, transmission, green hydrogen, solar, hydro, wind, and waste to energy sectors, said Pradip Kumar Das, CMD of Indian Renewable Energy Development Agency, at a webinar organized by the World Bank. Continue reading “India needs INR 30 lakh cr investments in 6 years to meet its emission cut commitment: IREDA chief”

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.

On Oct. 2, a pedestrian in San Francisco hit by another vehicle was thrown into the path of a self-driving Cruise car and dragged 20 feet (6 m). Continue reading “GM’s Cruise hardware chief resigns in latest exit after operations suspended”

PARIS, (Reuters) – Stellantis, with 61 billion euros in liquidity and strong cash flows, will keep “eyes open” for potential acquisitions and merger opportunities, the automaker’s chief financial officer said on Thursday.

“We intend to be one of the consolidators,” as the global auto industry goes through a turbulent transition to a more electrified fleet, Stellantis CFO Natalie Knight told an investor conference hosted by Wolfe Research.

Stellantis, the world’s third largest automaker by vehicle sales, is the product of the 2021 combination of Peugeot and Fiat Chrysler Automobiles. Prior to the FCA merger, Peugeot acquired General Motors’ European operations. Stellantis said it has cut 8.4 billion euros in costs through consolidating former Peugeot and FCA activities, beating 5 billion euro target set for 2024. Continue reading “Stellantis can be an industry ‘consolidator’, CFO says”

LONDON/DETROIT, (Reuters) – Under pressure from Chinese competitors, major U.S. and European auto manufacturers are pushing hard to cut electric vehicle costs so they can have price tags and profit margins similar to those of fossil-fuel models, industry executives said on Thursday.

Europe’s Stellantis and Renault are trying to develop more affordable EVs, which are more expensive than combustion-engine equivalents, as electric car sales growth has slowed, while U.S. giants General Motors and Ford broached the possibility of partnerships that could lower EV costs.

The high cost of EVs has become a significant barrier to broader mass adoption for zero-emission cars. Automakers have struggled to keep up with Tesla, the leading EV maker in the United States and Europe, but lower-cost Chinese models have heightened the competitive stakes. Continue reading “European, US carmakers race to lower EVs costs as China competition heats up”

Source : PTI | The National Green Tribunal (NGT) has imposed an environmental compensation of INR 45 crore on the National Highways Authority of India (NHAI) for flouting several rules while constructing an infrastructure project in Haryana. The NGT was hearing a petition claiming environmental violations by the NHAI in the acquisition of land for the development of certain corridors and routes under Bharatmala Pariyojana in National Highway-148 NA (DND-Faridabad-Kundli-Manesar-Palwal Expressway).

A bench of NGT Chairperson Justice Prakash Shrivastava said the allegations against the NHAI included the illegal diversion of the Hajipur village forest (in Gurugram district) and the illegal cutting of 441 trees, along with felling trees, near the banks of the Kiranj village pond (in Nuh district). Continue reading “NGT directs NHAI to pay INR 45 cr fine for violating environmental rules”

Source : PTI | New Delhi, India Yamaha Motor is recalling around 3 lakh units of its 125 cc scooter models Ray ZR 125 Fi Hybrid and Fascino 125 Fi Hybrid to rectify faulty brake parts. The Japanese two-wheeler maker said it is recalling scooter units manufactured between January 1, 2022, to January 4, 2024, with immediate effect.

Staying committed to the highest quality and safety standards of products, India Yamaha Motor (IYM) has announced a voluntary recall of around 3,00,000 units of 125 cc scooters, the company said in a statement. Continue reading “India Yamaha Motor recalls 3 lakh scooter units to rectify brake parts”

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Two Wheeler Sales Back in Action at India | Auto Industry Performance of January-2024 WAF

Digital Parts Catalog: Intellinet Systems’ Innovative Solution for Accurate Part Identification and Ordering WAF

Germany’s Habeck: hitting EV sales target requires ‘tipping point’ WAF Continue reading “WAF Auto News | The Auto World This Week (16th February 2024)”

Continue reading “Biden’s drive for EVs collides with Detroit’s profit machines”

Monthly Performance: January 2024

Production: The total production of Passenger Vehicles1 , Three Wheelers, Two Wheelers, and Quadricycle in January 2024 was 23,28,329 units

Domestic Sales:

• Passenger Vehicles2 sales were 3,93,074 units in January 2024.
• Three-wheeler sales were 53,537 units in January 2024
• Two-wheeler sales were 14,95,183 units in January 2024

Continue reading “Two Wheeler Sales Back in Action at India | Auto Industry Performance of January-2024”

Source : PTI | Odisha Chief Minister Naveen Patnaik on Wednesday laid the foundation stones for two green fuel projects worth INR 35,000 crore at Gopalpur Industrial Park on Wednesday. He also participated in the ground-breaking ceremony for the state-owned IDCO’s utility corridor in Ganjam district. Acme Cleantech Solutions is setting up a 1.10 MMTPA green ammonia plant with an investment of INR 27,000 crore, which will create employment for about 4,000 people.

Avaada Green H2 Private Limited will invest INR 8,000 crore for a 0.5 MTPA green hydrogen/ammonia facility, providing job opportunities for 1,500 individuals.

Continue reading “Patnaik lays foundation stones for two green fuel projects worth INR 35,000 cr in Odisha”

Source : PTI | About INR 12,900 crore has already been invested in the domestic steel sector under the PLI scheme for specialty steel, an official statement said on Wednesday. In March 2023, 57 memorandum of understandings (MoUs) were signed for generating an investment of about INR 29,500 crore in the sector by FY28.

Besides, the scheme envisaged addition of 25 MT capacity for producing specialty steel grades and generating about 17,000 employment opportunities, Ministry of Steel said in an statement. Continue reading “Govt says INR 12,900 cr invested under PLI scheme for specialty steel”

NEW DELHI/SEOUL, (Reuters) – Hyundai Motor’s planned $3 billion IPO in India will help the carmaker score two goals in one go: expand in one of the world’s fastest growing markets and tackle the so-called “Korea discount” that suppresses the value of its business back home.

Hyundai, India’s second-biggest carmaker behind Maruti Suzuki with a 15% market share, has appointed, bankers for the initial public offering which could be the country’s biggest ever, and Hyundai’s first such listing outside South Korea. Continue reading “Hyundai seeks expansion, higher valuation with India IPO”

FRANKFURT, (Reuters) – Mercedes-Benz Group on Thursday said it had sold its stake in Russian truckmaker Kamaz in a transaction that was completed this month after securing all necessary regulatory approvals.

Mercedes-Benz did not disclose the price of the transaction or the buyer. Continue reading “Mercedes-Benz sells stake in Russian truckmaker Kamaz”

(Reuters) – Carmaker Stellantis halted production in Russia in April 2022.

But the decision did not stop Russian operators from joining forces with a Chinese partner the following year to start making new versions of Stellantis’ Citroen models, according to customs data and two people familiar with the matter. Continue reading “Exclusive: Russians use Chinese partner to produce Citroen cars at idled Stellantis plant”

PARIS/MILAN, (Reuters) – Shares in Renault hit seven-month highs and rival Stellantis shot to record peaks on Thursday after the carmakers pledged to reward investors with a big jump in annual dividend and a share buyback worth billions of euros.

The bumper payouts helped soothe investors’ concerns over the outlook for European carmakers as they struggle with competition from cheaper Chinese rivals, higher costs and tepid demand while consumers tighten their budgets due to rising costs of borrowing. Continue reading “Cash haul drives Renault, Stellantis shares higher”

Traditional methods of maintaining paper catalogs were extremely cost-intensive. For example, any change in a part or a component would call for the entire catalog to be re-printed and supplies to all stakeholders involved. This made the maintenance of paper catalogs an ongoing challenge for automotive OEMs. To cater to this challenge, specialised software now enables OEMs to adopt a streamlined and efficient approach to managing and maintaining spare part catalogs.

What are the challenges faced by traditional paper-based spare part catalogs?

Continue reading “Digital Parts Catalog: Intellinet Systems’ Innovative Solution for Accurate Part Identification and Ordering”

(Reuters) – Elon Musk and the Tesla shareholder who won a verdict last month voiding the CEO’s $56-billion pay package will ask a judge to pause her ruling until an appeal is resolved, according to a Tuesday letter to the court from the shareholder’s attorney.

Greg Varallo, the shareholder’s attorney, told Reuters the two sides will agree to a stay if they can reach a deal on an appeal bond. Continue reading “Musk, Tesla shareholder to propose a stay of pay ruling during appeal”

TOKYO, (Reuters) – A joint venture set up by Japan’s Sony Group and Honda Motor will introduce three electric vehicle (EV) models by the second half of this decade, the Nikkei business daily reported on Wednesday.

Sony Honda Mobility will roll out a sports utility vehicle in 2027 and a compact some time in 2028 or later following a scheduled launch of a sedan in 2025 in a bid to compete with Tesla, the Nikkei reported without citing its sources. Continue reading “Sony, Honda EV venture to roll out three models before 2030 – Nikkei”

(Reuters) – Lyft beat estimates for quarterly profit on Tuesday and said it would generate positive free cash flow for the first time in 2024, as it cut costs and became more competitive with larger rideshare rival Uber.

Shares were up 17% in late afterhours trade, despite a major gaffe: Lyft’s said incorrectly in a statement that a key margin metric was expected to rise by 500 basis points this year. On a conference call later, Chief Financial Officer Erin Brewer corrected the forecast to an increase of 50 basis points. Continue reading “Lyft stock up 17% on cost cuts after wild ride on company’s forecast error”

BERLIN, (Reuters) – Volkswagen is in talks with its joint venture partner in China over its presence in Xinjiang, it said on Wednesday after a German newspaper reported what it said was evidence of the carmaker’s involvement in forced labour.

The issue adds to pressure on Germany’s biggest corporations to rethink ties with China, specifically in the Xinjiang region, where rights groups have documented abuses including forced labour in detention camps. Beijing denies any such abuses. Continue reading “Volkswagen in talks over future of Xinjiang site as pressure mounts”

WASHINGTON, (Reuters) – The U.S. government has reimbursed auto dealers for about $135 million in advance point-of-sale consumer electric vehicle tax credit payments since the start of the year through Feb. 6, the Treasury said on Wednesday.

Prior to 2024, U.S. auto buyers could only take advantage of the $7,500 new electric vehicle credit or $4,000 used EV credit when they filed tax returns the following year. Continue reading “US issues $135 million in advance EV tax rebates since Jan 1, Treasury says”

NEW DELHI/SEOUL, (Reuters) – Hyundai Motor’s planned $3 billion IPO in India will help the carmaker score two goals in one go: expand in one of the world’s fastest growing markets and tackle the so-called “Korea discount” that suppresses the value of its business back home.

Hyundai, India’s second-biggest carmaker behind Maruti Suzuki with a 15% market share, has appointed bankers for the initial public offering which could be the country’s biggest ever, and Hyundai’s first such listing outside South Korea. Continue reading “Hyundai seeks expansion, higher valuation with India IPO”

(Reuters) – China’s BYD Co Ltd will set up a new electric vehicle (EV) factory in Mexico, Nikkei reported on Wednesday, citing the company’s Mexico head, as the EV maker aims to establish an export hub to the United States.

BYD, known for its cheaper models and a more varied lineup, recently overtook its biggest rival Tesla Inc to become the world’s top EV maker in terms of sales. Continue reading “China’s BYD plans new electric vehicle plant in Mexico, says Nikkei”

Source : PTI | Chief Minister Eknath Shinde on Tuesday dedicated 5,150 air-conditioned electric buses to the Maharashtra State Road Transport Corporation (MSRTC) fleet. Addressing a gathering at the Khopat bus depot in Thane, Shinde called for improvements in all ST bus depots in the state to ensure better passenger amenities and announced surprise inspections to monitor progress.

The addition of 5,150 electric buses to the MSRTC fleet marks a significant step towards modernisation and environmental sustainability, he said, while reiterating the importance of transitioning from diesel to LNG buses to reduce pollution.

Continue reading “CM Shinde dedicates 5,150 electric buses to MSRTC fleet”

Source : PTI | Ecommerce in India is at a nascent stage and cost structure of logistics is the biggest challenge for the segment, a top official of Flipkart said on Tuesday. Speaking at Walmart Growth Summit, Flipkart CEO Kalyan Krishnamurthy said the government has simplified taxation and adopted ease of doing business as a strategy, which is one of the factors driving growth of the ecommerce segment.

“One of the biggest challenges for ecommerce alone to solve is the cost structure of logistics. India, in general is a low ticket price market. Whenever we are able to get to further (lower logistics) cost structure, is when we will be able to further increase the penetration in commerce,” Krishnamurthy said. Continue reading “Cost structure of logistics biggest challenge for ecommerce: Flipkart CEO”

Source : PTI | New Delhi: Delhi Lt Governor V K Saxena, Chief Minister Arvind Kejriwal and Transport Minister Kailash Gahlot on Wednesday flagged off 350 electric buses here. With the new buses, the number of electric buses in the DTC fleet has risen to 1650.

Talking to reporters after the flag-off Saxena said, “These buses will contribute in a huge way in combating pollution. I am hopeful that we will be able to stop the pollution with these steps.” Continue reading “350 e-buses launched in Delhi, Kejriwal says capital has highest number of such buses”

Source : PTI | Union Road Transport and Highways Minister Nitin Gadkari on Tuesday said the Centre is going to spend INR 2 lakh crore on road infrastructure in Uttarakhand and its roads will be like those in the United States by the end of 2024.

Gadkari was speaking on the occasion of inauguration of the national highway projects worth over INR 2,000 crore in Tanakpur. Continue reading “Uttarakhand roads to be like those in US by end of 2024: Nitin Gadkari”

Source : PTI | New Delhi: JSW Steel on Tuesday announced plans to set up a grain oriented electrical steel manufacturing facility through a joint venture with JFE Steel Corporation at an estimated investment of USD 5,500 crore. Japan-bases JFE Corporation also holds a 15 % share in JSW Steel.

A groundbreaking ceremony marking the initiation of this partnership was held on February 12, JSW Steel said in a statement.

JSW Steel Limited announced the establishment of a 50:50 JV with JFE Steel Corporation, Japan for the production of Grain Oriented Electrical Steel in India.

Continue reading “JSW Steel, JFE Corporation to set up electrical steel facility in India with INR 5,500 crore investment”

(Reuters) – Stellantis (STLAM.MI), opens new tab said on Monday it will invest 103 million euros ($111.02 million) at its Szentgotthard facility in Hungary to increase production capacity of electric drive modules that will help the automaker grow its electric-vehicle portfolio.

The investment is Stellantis’ third in an EDM manufacturing facility after Tremery-Metz in France and Kokomo, Indiana in the United States. Continue reading “Stellantis to invest $111 mln in Hungary facility to produce electric drive modules”

PARIS, (Reuters) – The French government on Tuesday cut by 20% a subsidy higher-income car buyers can get for purchasing electric and hybrid vehicles in order to keep from overrunning its budget to boost the number of electric cars on the road.

A government regulation lowered the subsidy from 5,000 euros ($5,386) to 4,000 for the 50% highest-income car buyers, but left the subsidy for people on lower incomes at 7,000 euros. Continue reading “France cuts EV subsidy for higher-income buyers”

(Reuters) – California lawmakers and labor unions rallied on Monday to call for laws to not allow autonomous trucks without human drivers, amid rising safety concerns after accidents involving self-driving taxis from General Motors and Alphabet.

A robotaxi from Alphabet’s Waymo was torched by people celebrating Chinese New Year on Saturday, marking the most destructive attack so far on driverless vehicles in the U.S. This comes after a Waymo vehicle hit a cyclist at a city intersection last week and a major accident in October where a GM Cruise robotaxi hit and dragged a pedestrian 20 feet (6 meters). Continue reading “California lawmakers call for stricter regulation of autonomous vehicles”