🔎
No results found
Try a different keyword.
Amara Raja aims to start operating giga factory before end of 2025

Amara Raja aims to start operating giga factory before end of 2025

Posted on by admin
Post Views: 193

Source : PTI | Automotive battery maker Amara Raja Batteries Ltd on Wednesday said its first giga factory will start operating before the end of 2025. The company also said that giga factories require an integrated approach that marries high technology, large capex, giga scale factories with an ecosystem.

In May last year, the company laid the foundation stone for its first giga factory in Mahbubnagar district in Telangana. It is for producing Lithium Cell and Battery Packs, with an ultimate capacity of up to 16 GWh and 5 GWh, respectively.

Continue reading “Amara Raja aims to start operating giga factory before end of 2025”

Danish EV charger software provider Monta raises $87mln

Danish EV charger software provider Monta raises $87mln

Posted on by admin
Post Views: 130
LONDON, (Reuters) – Danish firm Monta, which develops software solutions for the electric vehicle charging industry, said on Tuesday that it has raised 80 million euros ($87 million) to increase research and development spending and expand its partner network.
The Series B funding round was led by software investor Energize Capital and investment management firm GreenPoint Partners. The Copenhagen-based company has now raised a total of 130 million euros since its founding in 2020.

Continue reading “Danish EV charger software provider Monta raises $87mln”

US union membership rate hits fresh record low in 2023 -Labor Dept

US union membership rate hits fresh record low in 2023 -Labor Dept

Posted on by admin
Post Views: 173
(Reuters) – U.S. union membership rates fell to fresh record lows in 2023 despite it being a year of headline-grabbing organized labor strikes from the Rustbelt to Hollywood and some continued organizing successes at companies such as Starbucks.
The union membership rate fell to 10.0% from what had already been a record-low 10.1% in 2022, the Labor Department said on Tuesday in an annual census of the U.S. organized labor landscape that also showed continued growth in union membership among people of color and a narrowing pay advantage for union workers.

Continue reading “US union membership rate hits fresh record low in 2023 -Labor Dept”

Volkswagen shares rise after “confident” message over 2024

Volkswagen shares rise after “confident” message over 2024

Posted on by admin
Post Views: 128
MILAN,(Reuters) – Shares in Volkswagen (VOWG_p.DE), opens new tab rose over 6% on Tuesday after call with analysts fuelled bets that the German car maker might unveil fourth-quarter sales above current market expectations when it discloses results in March.
The rise briefly set the stock for its biggest one-day gain in eleven months, outperforming European auto stocks (.SXAP), opens new tab and Germany’s benchmark DAX (.GDAXI), opens new tab index. Volkswagen shares rose 5.6% on the day by 1553 GMT, while the DAX fell 0.2%.

Continue reading “Volkswagen shares rise after “confident” message over 2024″

Stellantis CEO says Italy’s hard line on incentives is hurting output

Stellantis CEO says Italy’s hard line on incentives is hurting output

Posted on by admin
Post Views: 201
ATESSA, Italy,(Reuters) – Italy’s penny-pinching approach to incentives has meant several months of reduced automotive production, the head of Stellantis (STLAM.MI), opens new tab, the country’s sole major automaker, said on Tuesday.
“Stellantis has been asking the Italian government for the last nine months to support EV sales,” CEO Carlos Tavares said during a visit to the group’s plant in the town of Atessa, central Italy, Europe’s largest van-making facility.

Continue reading “Stellantis CEO says Italy’s hard line on incentives is hurting output”

Riyadh’s multi-billion EV dream risks crashing into reality

Riyadh’s multi-billion EV dream risks crashing into reality

Posted on by admin
Post Views: 177

Summary

  • Kingdom faces tough competition, from China to United States
  • Only factory so far has reassembled 800 cars
  • Past attempts to attract auto-manufacturers failed
RIYADH,(Reuters) – Riyadh has spent billions to try to turn itself into a hub for electric vehicles and overcome obstacles including a lack of infrastructure, talent and raw materials, as it seeks to catch up in the global race to reap the profits of the new industry.

Continue reading “Riyadh’s multi-billion EV dream risks crashing into reality”

In EV catch-up race, legacy automakers hitch a lift with Formula E

In EV catch-up race, legacy automakers hitch a lift with Formula E

Posted on by admin
Post Views: 127
LONDON, (Reuters) – Legacy automakers playing catch-up with EV leaders like Tesla (TSLA.O), opens new tab are leaning on their Formula E electric racing teams for innovations to build better mass-production EVs with greater range and efficiency, or a lower price tag.
Formula E has struggled to win over many motorsports enthusiasts, with Formula One still attracting significantly bigger audiences because electric cars lack the sustained power and noise of the internal combustion engine.

Continue reading “In EV catch-up race, legacy automakers hitch a lift with Formula E”

PV segment likely to see record 18-20% growth in FY24: Report

PV segment likely to see record 18-20% growth in FY24: Report

Posted on by admin
Post Views: 181

Source : PTI | The Passenger Vehicles (PV) segment volumes are expected to log a record 18-20% growth this fiscal as the pent-up demand levels off amid hike in vehicle prices, CareEdge said in a report on Tuesday. It also projected the PV sales volume to continue this growth momentum in the next fiscal, driven by factors such as strong order book and improvement in supply chain, the credit ratings agency said.

The demand for premium variants is expected to remain healthy, while that of entry-level variants may remain muted due to high interest rates and an inflationary environment, according to CareEdge.

Continue reading “PV segment likely to see record 18-20% growth in FY24: Report”

Tesla to kick off Cybertruck’s China tour in late Jan -media
UAW president criticizes Trump but says union not yet endorsing Biden

UAW president criticizes Trump but says union not yet endorsing Biden

Posted on by admin
Post Views: 80
WASHINGTON, (Reuters) – The head of the United Auto Workers on Monday criticized Republican former President Donald Trump but said the union has not yet made a presidential endorsement decision.
UAW President Shawn Fain declined to comment on reports that President Joe Biden may address members of the union in Washington later this week during a legislative conference or issue its endorsement.
Fain told reporters his personal view of Trump’s track record “and who he is as a person … is pretty much contrary to everything we stand for.” Fain said the UAW would hold formal discussions on its endorsement “and then we’ll go from there.”

Continue reading “UAW president criticizes Trump but says union not yet endorsing Biden”

Hapag-Lloyd to offer land transit through Saudi Arabia amid Red Sea disruption

Hapag-Lloyd to offer land transit through Saudi Arabia amid Red Sea disruption

Posted on by admin
Post Views: 146
BERLIN, (Reuters) – German shipping group Hapag-Lloyd (HLAG.DE), opens new tab will continue to route its vessels around the Cape of Good Hope until further notice due to Houthi attacks on vessels in the Red Sea, it said on Monday, after announcing it was introducing land corridors through Saudi Arabia to mitigate the impact on its business.
“We continue to monitor and review the situation constantly. As soon as the situation changes, and it is safe again, we will route our vessels through Red Sea and Suez Canal,” it said.

Continue reading “Hapag-Lloyd to offer land transit through Saudi Arabia amid Red Sea disruption”

Foreign auto brands boost exports as China sales remain weak – data

Foreign auto brands boost exports as China sales remain weak – data

Posted on by admin
Post Views: 150
SHANGHAI, (Reuters) – Foreign carmakers that have been losing market share to local rivals in China have boosted exports from the world’s largest auto market, accounting for more than a fifth of the country’s total vehicle exports last year, industry data showed.
China is estimated to have overtaken Japan as the world’s largest auto exporter in 2023, thanks largely to the strength of nimble local companies such as Chery (CHERY.UL), SAIC (600104.SS), opens new tab, Geely (0175.HK), opens new tab and BYD .

Continue reading “Foreign auto brands boost exports as China sales remain weak – data”

Request government for protectionist measures in Budget; remove duty on raw materials: Abhyuday Jindal

Request government for protectionist measures in Budget; remove duty on raw materials: Abhyuday Jindal

Posted on by admin
Post Views: 137

Source : PTI | Jindal Stainless Ltd (JSL) MD Abhyuday Jindal has urged the government to remove import duty on raw materials in the upcoming Union Budget, a move, the industry leader said, will provide a level-playing field to domestic players. He suggested levying Basic Customs Duty (BCD) on imports as the domestic market is being affected by cheap and sub-standard stainless steel products from select group of countries like China and Vietnam.

“One long-standing requirement of the stainless steel industry has been that there are certain raw materials that are not present in the country like ferro nickel and ferro molybdenum,” Jindal told.

Continue reading “Request government for protectionist measures in Budget; remove duty on raw materials: Abhyuday Jindal”

Industrial & logistics space demand hit record in 2023 at 38.8 mn sq ft in 8 cities: CBRE

Industrial & logistics space demand hit record in 2023 at 38.8 mn sq ft in 8 cities: CBRE

Posted on by admin
Post Views: 171

Source : PTI | New Delhi: Demand for industrial and logistics spaces hit an all-time high across eight major cities last year with leasing activity rising annually by 8 per cent, according to CBRE. In its latest report, real estate consultant CBRE said that the leasing of industrial and logistics spaces rose to 38.8 million square feet in 2023 from 36 million square feet in the previous year driven mainly by demand from third-party logistics (3PL) companies.

Anshuman Magazine, Chairman & CEO, India, Southeast Asia, Middle East & Africa, CBRE, said, “As we envision the future of the industrial and logistics sector, this robust growth is a testament to the sector’s resilience despite global economic challenges.”

Continue reading “Industrial & logistics space demand hit record in 2023 at 38.8 mn sq ft in 8 cities: CBRE”

Reliance to commission new energy giga complex this year

Reliance to commission new energy giga complex this year

Posted on by admin
Post Views: 147

Source : PTI | New Delhi: Billionaire Mukesh Ambani’s Reliance Industries Ltd will commission a new energy giga complex in Gujarat in the second half of 2024, the company said in an earnings statement and investor call. Reliance is building a giga complex spread over 5,000 acres in Jamnagar in Gujarat. The complex comprises five giga factories for photovoltaic panels, fuel cell system, green hydrogen, energy storage and power electronics.

“On track to commence new energy facilities in phases this year,” the company said in a post-third-quarter earnings call with investors.

Continue reading “Reliance to commission new energy giga complex this year”

Ahmedabad-Mumbai bullet train project progress satisfactory, says JICA India chief

Ahmedabad-Mumbai bullet train project progress satisfactory, says JICA India chief

Posted on by admin
Post Views: 144

Source : PTI | New Delhi: Expressing satisfaction with the ongoing Ahmedabad-Mumbai bullet train project, the Chief Representative of JICA India, Saito Mitsunori, said that the PM Gati Shakti plan has accelerated public works in the country. In an interview with PTI, Mitsunori also expressed Japan’s interest in enhancing India’s border road networks and participating in the transnational power transmission project with Bhutan, Nepal and Bangladesh.

“Once the project concept is in the pipeline, meaning the official preparatory route within the government, clarity is there, and everybody is able to assess and monitor progress …. So, that has helped a lot in accelerating public works in this country,” Mitsunori said. Continue reading “Ahmedabad-Mumbai bullet train project progress satisfactory, says JICA India chief”

EVs development, adoption to play major role in India’s transition to low carbon economy: DPIIT Secy

EVs development, adoption to play major role in India’s transition to low carbon economy: DPIIT Secy

Posted on by admin
Post Views: 150

Source : PTI | The vision to make India a developed nation by 2047 includes a major shift towards electric vehicles, supported by tax incentives, production linked incentive schemes, and the mandatory provision of charging infrastructure, a top government official said on Monday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that the development and adoption of Electric Vehicles (EVs) play a pivotal role in India’s transition to a low-carbon economy.

Continue reading “EVs development, adoption to play major role in India’s transition to low carbon economy: DPIIT Secy”

Hero MotoCorp to set up assembly plant in Nepal with partner CG Motors

Hero MotoCorp to set up assembly plant in Nepal with partner CG Motors

Posted on by admin
Post Views: 145

Source : PTI | New Delhi: Hero MotoCorp on Monday said it will set up a facility for assembling products in Nepal in partnership with CG Motors, its newly appointed distributor in the country. The facility will be located in Nawalpur district and have a capacity of 75,000 units per annum, the country’s largest two-wheeler maker said in a statement.

Operations will begin in March 2024, it added.

Hero MotoCorp forayed into Nepal in 2014. Over the years, the company has established itself as a leading player in the country. Continue reading “Hero MotoCorp to set up assembly plant in Nepal with partner CG Motors”

State-owned IREDA Q3 profit zooms 67% to INR 335 crore; loan book at INR 50k cr

State-owned IREDA Q3 profit zooms 67% to INR 335 crore; loan book at INR 50k cr

Posted on by admin
Post Views: 79

Source : PTI | State-owned IREDA on Saturday posted a 67 % rise in net profit to INR 335.54 crore for the quarter ended in December 2023, bolstered by higher income. It had clocked INR 200.75 crore net profit during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing.

The company’s total income surged to INR 1,253.19 crore in the third quarter of FY24 from INR 868.97 crore a year ago.

Its expenses were INR 867.05 crore in the period under review, as against INR 634.27 crore in the year-ago period. Continue reading “State-owned IREDA Q3 profit zooms 67% to INR 335 crore; loan book at INR 50k cr”

Only zero-emission cars can help tackle air pollution, reduce oil imports: Tata Motors

Only zero-emission cars can help tackle air pollution, reduce oil imports: Tata Motors

Posted on by admin
Post Views: 150

Source : PTI | Only zero emission cars can contribute towards a reduction in air pollution, cutting burgeoning fuel imports and attaining net zero targets, according to Tata Motors Passenger Vehicles Managing Director Shailesh Chandra. Amid demands from a certain section of the industry to cut taxes levied on hybrid cars, Chandra said that such vehicles do not align with the key national objectives of achieving net carbon-zero target, improving air quality levels, and reducing fossil fuel imports.

He noted that hybrid and CNG technologies in cars help in improving fuel efficiency and meeting emission-related regulatory compliances but cannot be compared with pure battery electric vehicles.

Continue reading “Only zero-emission cars can help tackle air pollution, reduce oil imports: Tata Motors”

Waymo seeks to expand driverless service to Los Angeles

Waymo seeks to expand driverless service to Los Angeles

Posted on by admin
Post Views: 113
Jan 19 (Reuters) – Waymo, Alphabet Inc’s (GOOGL.O), opens new tab autonomous driving unit, said on Friday it had applied to the California Public Utilities Commission to expand its driverless service in Los Angeles.
A license would allow Waymo, which operates extensively in San Francisco, to fully operate its fleet in Los Angeles, California’s largest city, where it is now testing rides, allowing new rides only by invitation.
The utilities commission did not immediately respond to Reuters request for comment.

Continue reading “Waymo seeks to expand driverless service to Los Angeles”

Exclusive: Panasonic puts productivity boost ahead of new EV plant in US

Exclusive: Panasonic puts productivity boost ahead of new EV plant in US

Posted on by admin
Post Views: 110
TOKYO, Jan 22 (Reuters) – Panasonic’s (6752.T), opens new tab battery business must focus on boosting productivity, Group CEO Yuki Kusumi told Reuters, signalling the Tesla supplier may hold off building a third battery plant in North America as demand for electric vehicles cools.
The battery unit, Panasonic Energy, had previously said, opens new tab it aimed to decide on building the factory by the end of March.
But Panasonic Holdings CEO Yuki Kusumi said in an interview that a decision would be made only “when the timing is right”.

Continue reading “Exclusive: Panasonic puts productivity boost ahead of new EV plant in US”

Stellantis buys Brazil’s DPaschoal in another components push in Latam

Stellantis buys Brazil’s DPaschoal in another components push in Latam

Posted on by admin
Post Views: 208
SAO PAULO, (Reuters) – Stellantis (STLAM.MI), opens new tab said on Friday it is buying a 70% controlling stake in Brazilian automotive services firm DPaschoal, in the automaker’s latest move to expand its presence in Latin America.
Stellantis did not provide details of how much it paid for the stake.
The carmaker, which had focused on selling auto parts to its own car stores in Brazil, will expand its presence in Latin America’s largest economy through the acquisition. DPaschoal’s has 123 stores and 2,800 employees in the country, the companies said in a presentation.

Continue reading “Stellantis buys Brazil’s DPaschoal in another components push in Latam”

Waymo seeks to expand driverless service to Los Angeles

Waymo seeks to expand driverless service to Los Angeles

Posted on by admin
Post Views: 156
(Reuters) – Waymo, Alphabet Inc’s (GOOGL.O), opens new tab autonomous driving unit, said on Friday it had applied to the California Public Utilities Commission to expand its driverless service in Los Angeles.
A license would allow Waymo, which operates extensively in San Francisco, to fully operate its fleet in Los Angeles, California’s largest city, where it is now testing rides, allowing new rides only by invitation.

Continue reading “Waymo seeks to expand driverless service to Los Angeles”

Exclusive: BYD’s Thai distributor to triple EV dealerships, expand commercial offerings

Exclusive: BYD’s Thai distributor to triple EV dealerships, expand commercial offerings

Posted on by admin
Post Views: 195
BANGKOK, Jan 19 (Reuters) – The sole Thai distributor of BYD (002594.SZ), opens new tab, the world’s biggest electric vehicle maker, will triple its dealerships in Thailand in two years, it said, helping to cement the Chinese automaker’s dominant position in its top overseas market.
BYD overtook Tesla (TSLA.O), opens new tab as the world’s top EV maker in the fourth quarter last year, and the expansion in Thailand underscores its global push – especially in markets where its U.S. rival has yet to become a major vendor – as EV sales growth slows in its home market China.

Continue reading “Exclusive: BYD’s Thai distributor to triple EV dealerships, expand commercial offerings”

Battery maker Northvolt looks at sourcing cobalt from Congo

Battery maker Northvolt looks at sourcing cobalt from Congo

Posted on by admin
Post Views: 172
STOCKHOLM, Jan 19 (Reuters) – Swedish battery maker Northvolt is looking to source cobalt, used to make chemicals for electric vehicle batteries, from the Democratic Republic of Congo (DRC), the company said on Friday.
The company has trialled material, studied work processes and compared plans to improve both social and environmental sustainability with the aim to find long-term partners.
“I would feel comfortable signing something this year in terms of engagement in sourcing,” Chief Environmental Officer Emma Nehrenheim said in a phone interview with Reuters. She did not give a definite timeframe.

Continue reading “Battery maker Northvolt looks at sourcing cobalt from Congo”

US announces $325 mln to repair EV chargers, cut battery costs

US announces $325 mln to repair EV chargers, cut battery costs

Posted on by admin
Post Views: 119
(Reuters) – The U.S. Departments of Transportation and Energy will invest$325 million across three programs to advance EV technologies, repair chargers and cut battery costs, the White House said in a statement on Friday.
“This new funding for EV chargers will repair and replace existing, non-operational chargers across the country, reduce costs for deploying charging in underserved communities, and cut battery costs”, the statement added.

Continue reading “US announces $325 mln to repair EV chargers, cut battery costs”

Fire truck boom highlights divide in US manufacturing

Fire truck boom highlights divide in US manufacturing

Posted on by admin
Post Views: 147
Jan 19 (Reuters) – Anyone looking around Oshkosh’s cavernous fire truck factory in Appleton, Wisconsin, for evidence of the longest U.S. manufacturing slump in two decades could be forgiven for coming away scratching their heads.
The delivery backlog for the company’s most sought-after fire-fighting rigs now stretches into 2026, part of a record $16 billion backlog for all types of the company’s trucks, which range from waste haulers and cement mixers to tow trucks and airport rescue vehicles. Oshkosh’s total revenues in 2022 equaled about half that amount.

Continue reading “Fire truck boom highlights divide in US manufacturing”

EPA sends vehicle emissions reduction plan to White House for review

EPA sends vehicle emissions reduction plan to White House for review

Posted on by admin
Post Views: 162
WASHINGTON, Jan 19 (Reuters) – The U.S. Environmental Protection Agency (EPA) sent to the White House for review its proposal to finalize sweeping emissions cuts for new cars and trucks through 2032 that could drastically boost electric vehicle sales, a document made public on Friday shows.
The EPA in April proposed requiring a 56% reduction in projected fleet average emissions over 2026 model year requirements.

Continue reading “EPA sends vehicle emissions reduction plan to White House for review”

Stellantis will avoid brutal price cuts, CEO says

Stellantis will avoid brutal price cuts, CEO says

Posted on by admin
Post Views: 166

Summary

  • CEO Tavares presents new BEV platform for large vehicles
  • Cutting prices faster than costs would ‘destroy’ profits
  • No major impact seen from Red Sea supply disruptions
  • Stellantis will not change sourcing strategies
MILAN, (Reuters) – Stellantis (STLAM.MI), opens new tab must avoid being drawn into a price war that would destroy profitability and might eventually make many automakers takeover targets, CEO Carlos Tavares said on Friday.
Presenting the group’s new platform for large battery electric vehicles (BEV), Tavares said Stellantis, which is among the most profitable companies in the industry, was comparatively protected from a downtrend in prices that could put some rivals “in trouble”, with persistent losses and at risk of becoming takeover targets.

Continue reading “Stellantis will avoid brutal price cuts, CEO says”

Ford cuts F-150 Lightning production as EV demand softens

Ford cuts F-150 Lightning production as EV demand softens

Posted on by admin
Post Views: 171
(Reuters) – Ford Motor (F.N), opens new tab said on Friday it would reduce production of its F-150 Lightning pickup truck, as demand for electric vehicles (EVs) has been lower than expected.
The No. 2 U.S. automaker said it would cut production at its Michigan Rouge Electric Vehicle Center to one shift starting April 1. In October, the automaker said it would temporarily cut one of three shifts at the Michigan plant that builds the electric F-150 Lightning pickup truck.

Continue reading “Ford cuts F-150 Lightning production as EV demand softens”

India developing very strong semiconductor industry; first made-in-India chip in December: Vaishnaw

India developing very strong semiconductor industry; first made-in-India chip in December: Vaishnaw

Posted on by admin
Post Views: 114

Source : PTI | The first made-in-India chip will be out by December, Union Minister Ashwini Vaishnaw said here, crediting Prime Minister Narendra Modi for developing a very strong semiconductor industry in the country in a short span of time with focus on the entire ecosystem.

Speaking to PTI at the World Economic Forum Annual Meeting 2024, the minister said PM Modi launched a semiconductor policy in January 2022, adding that when he met senior representatives of the industry here, the one thing they all were surprised about was how this much work could be done in such a short time. Continue reading “India developing very strong semiconductor industry; first made-in-India chip in December: Vaishnaw”

Withdrawal of subsidy on electric vehicles may lead to stagnated growth for 2 years, Ather Energy CEO

Withdrawal of subsidy on electric vehicles may lead to stagnated growth for 2 years, Ather Energy CEO

Posted on by admin
Post Views: 340

Source : PTI | Withdrawal of government’s incentive on sale of electric two-wheelers in April would prompt industry players to work hard and this could result into one or two more years of stagnated growth, Ather Energy’s CEO and co-founder Tarun Mehta said on Friday. “The industry is no longer entirely dependent on subsidies for survival but an early discontinuation of the subsidy in April would prompt industry players to tighten their belts and work hard.

“Despite this resilience, such a scenario would still result in one or two more years of stagnated growth, pushing the industry further away from its targets,” the CEO of the electric two-wheeler firm said in a statement. Continue reading “Withdrawal of subsidy on electric vehicles may lead to stagnated growth for 2 years, Ather Energy CEO”

Rolls-Royce drives in Spectre; dealer expects luxury car sales to grow in India

Rolls-Royce drives in Spectre; dealer expects luxury car sales to grow in India

Posted on by admin
Post Views: 443

Source : PTI | Sales of ultra luxury car brands like Rolls-Royce are set to be on the growth path only in India with the economy expected to expand further enabling a new set of customers for such models, as per Select Cars CEO Yadur Kapur. Select Cars is the principal dealer of various luxury car brands in the country, including Rolls-Royce, Ferrari and Lamborghini.

The company on Friday introduced the Rolls-Royce Spectre, the company’s first fully electric luxury sedan, with price starting at INR 7.5 crore (ex-showroom).

Continue reading “Rolls-Royce drives in Spectre; dealer expects luxury car sales to grow in India”

WAF in partnership with SIMF & AITD launch ‘Towards Safer and Inclusive Roads’

WAF in partnership with SIMF & AITD launch ‘Towards Safer and Inclusive Roads’

Posted on by admin
Post Views: 955

World Auto Forum & Safe India Mobility Forum organised a Roundtable Meeting of Industry experts today on Road Safety titled Road Safety Experts Roundtable. The theme was Towards Safer and Inclusive Roads.

Pan India Safety Experts participated, offline and online , heads of Govt Depts , IPS , IAS , heads of Dealer , OEMs, Mobility Related Bodies and Transport Associations.

Continue reading “WAF in partnership with SIMF & AITD launch ‘Towards Safer and Inclusive Roads’”

US awards nearly $150 mln to repair, replace EV charging stations

US awards nearly $150 mln to repair, replace EV charging stations

Posted on by admin
Post Views: 469
WASHINGTON, (Reuters) – The U.S. Transportation Department said on Thursday it is awarding $148.8 million for projects in 20 states to repair or replace nearly 4,500 existing electric vehicle charging ports.
The announcement is the latest in a string of awards to boost EV charging, as President Joe Biden’s administration looks to finalize new rules in coming months that could dramatically boost EV sales.

Continue reading “US awards nearly $150 mln to repair, replace EV charging stations”

EU December car sales down 3.3% y/y as German market slows -ACEA

EU December car sales down 3.3% y/y as German market slows -ACEA

Posted on by admin
Post Views: 411
(Reuters) – New car sales in the European Union declined by 3.3% in December, dragged down by slowing demand in Germany, data showed on Thursday, in the first decrease in 16 months.
The year-on-year drop can also be attributed to a comparatively strong performance of the market in December 2022, the European Automobile Manufacturers Association (ACEA) said.

Continue reading “EU December car sales down 3.3% y/y as German market slows -ACEA”

China’s BYD launches electric cars in Indonesia, aims to be market leader

China’s BYD launches electric cars in Indonesia, aims to be market leader

Posted on by admin
Post Views: 191
JAKARTA, (Reuters) – China’s BYD (002594.SZ), opens new tab, the world’s biggest electric vehicle maker, unveiled three battery EV models in Indonesia on Thursday as it seeks to become market leader in the segment in Southeast Asia’s biggest economy.
BYD overtook Tesla (TSLA.O), opens new tab as the world’s top EV maker in the fourth quarter, with most of the 526,000 vehicles it sold going to the China market.

Continue reading “China’s BYD launches electric cars in Indonesia, aims to be market leader”

Tesla, Ford among the most shorted stocks in 2023 – Hazeltree

Tesla, Ford among the most shorted stocks in 2023 – Hazeltree

Posted on by admin
Post Views: 129
LONDON, (Reuters) – Hedge funds took the most bets against auto companies Tesla (TSLA.O), opens new tab, Ford (F.N), opens new tab, and communications company Charter Communications (CHTR.O), opens new tab in the United States last year, a report by data firm Hazeltree said on Thursday.
A short bet expects a company’s stock price to decline.

Continue reading “Tesla, Ford among the most shorted stocks in 2023 – Hazeltree”

Vietnamese EV maker VinFast misses 2023 deliveries goal, but Q4 up

Vietnamese EV maker VinFast misses 2023 deliveries goal, but Q4 up

Posted on by admin
Post Views: 213
HANOI, (Reuters) – Vietnamese electric vehicle (EV) maker VinFast on Thursday said it delivered nearly 35,000 cars in 2023, below its target of at least 40,000 units, blaming slow EV adoption in some regions, tough competition and uncertain economy.
The deliveries in the last three months of 2023, however, increased 35% against the third quarter to 13,513 units, the company said.

Continue reading “Vietnamese EV maker VinFast misses 2023 deliveries goal, but Q4 up”