BEIJING, (Reuters) – Nissan Motor (7201.T) said on Sunday it would sell China-developed electric vehicles (EVs) globally as it struck a deal with the country’s top university to leverage local resources to accelerate research and development on electrification.

The Japanese automaker is considering exporting the line-up of existing internal combustion engine vehicles and upcoming pure electric and plug-in hybrid cars manufactured and developed in China to overseas markets, Masashi Matsuyama, vice president of Nissan Motor and president of Nissan China, told reporters in Beijing. Continue reading “Nissan to export China-developed EVs to global markets”

SHANGHAI, (Reuters) – Electric vehicle maker Nio (9866.HK) has signed a pact for an investment of $2.2 billion from CYVN Holdings, an investment vehicle based in Abu Dhabi, the Chinese company said on Monday.

The investment comes as Nio, with its EV sales and profitability under pressure in a price war started by Tesla (TSLA.O), has sought to boost efficiency by cutting a tenth of the workforce and deferring non-core projects. Continue reading “China’s Nio to get $2.2 bln investment from Abu Dhabi’s CYVN”

NEW YORK, (Reuters) – Trevor Milton, the convicted founder of electric- and hydrogen-powered truck maker Nikola (NKLA.O), was sentenced to four years in prison on Monday after a jury last year found him guilty of lying to investors about the company’s technology.

Federal prosecutors in Manhattan said Milton misled investors by stating that Nikola had built a pickup from the “ground up,” that it had developed its own batteries even though he knew it was buying them, and that it had early success creating a “Nikola One” semi-truck that he knew did not work. Continue reading “Nikola founder Trevor Milton sentenced to four years for fraud conviction”

WASHINGTON, (Reuters) – The acting head of the National Highway Traffic Safety Administration (NHTSA) said on Friday she is stepping down from her post after overseeing the agency’s investigation into Tesla (TSLA.O) Autopilot and efforts to strengthen fuel efficiency regulations.

Acting NHTSA Administrator Ann Carlson, who has run the agency since September 2022, told employees in an email she will leave her post on Dec. 26 because of a law limiting how long officials can remain in a temporary role. Continue reading “Top US auto safety official will leave agency”

Source : PTI | South Korean automaker Kia is looking to expand production, sales network and its product range in India next year as part of an “aggressive business” plan to counter enhanced competition in the market, a top company official said on Thursday. The automaker, which on Thursday globally premiered the latest version of its compact SUV Sonet, also plans to curtail exports from the country in order to effectively cater to the demand in the domestic market.

“We have an aggressive business plan for next year. We are looking to add 100 more sales outlets and enhance installed production capacity by 1 lakh units,” Kia India Managing Director and CEO Tae-Jin Park told PTI in an interaction.

Continue reading “Kia India draws up aggressive biz plan; to jack up production, widen sales network next year”

Source : PTI | New Delhi : Vedanta Group firm Hindustan Zinc on Thursday said it has started the deployment of EV trucks at one of its mines. The company officially launched the first fleet of electric vehicles in partnership with Inland EV Green Services.

“Crafted for Indian conditions, these trucks boast a remarkable 55-tonne capacity each, coupled with an impressive charging capacity, going from 20 to 100 per cent in just 90 minutes. Continue reading “Hindustan Zinc begins EV trucks deployment at mines”

Source : PTI | Two leading private bus owners associations in West Bengal have asked the state Transport department to extend the 15-year deadline for stage carriages by two years. The Joint Council of Bus Syndicate, one of the two associations, in a letter to senior officials of the transport department called for extending the deadline for two more years arguing that buses and minibuses could not run for about three years due to the Covid-19 pandemic and consequent lockdown.

Transport minister Snehasis Chakraborty told PTI on Thursday that the government is aware of the situation and is mulling steps which will be acceptable to bus operators, common people, lakhs of people whose livelihoods revolve in the transport sector and take care of environmental issues.

Continue reading “Bus owners’ association urge govt to extend 15-year old vehicle phaseout deadline by 2 yrs”

Source : PTI | New Delhi: Mahindra & Mahindra’s sports utility vehicle Scorpio-N has received zero safety rating from ANCAP, prompting the company to state it will incorporate upgrades in the product mid-cycle update to meet the new safety regulations. The vehicle earlier had scored five stars for adult occupancy and three stars for child occupant protection in the Global NCAP crash tests.

The highest score on a vehicle crash test is five stars, while the lowest score is zero stars. Continue reading “Scorpio-N gets zero star safety ANCAP rating; M&M working to meet unique regulations”

BERLIN, Dec 15 (Reuters) – Chinese electric vehicle (EV) maker Nio (9866.HK) will launch its cheaper Firefly brand in Europe in 2025, its president said on Friday.

Both the Firefly and Alps brands will produce cars for families, with Firefly offering smaller models, Lihong Qin said in a news conference online.

He did not give details of pricing for the two brands. Continue reading “Nio to launch cheaper Firefly brand in Europe in 2025”

Dec 15 (Reuters) – A U.S. auto safety regulator said on Friday it will open an investigation into about 454,840 Nissan vehicles over reports alleging engine failure that can lead to a loss of motive power with no ability to re-start.

The U.S. Office of Defects Investigation (ODI) has opened a preliminary evaluation into Nissan Rogue, Altima and Infiniti Qx50 vehicles, the National Highway Traffic Safety Administration said, adding a total of six complaints were received regarding the issue. Continue reading “US opens probe into over 450,000 Nissan vehicles on engine failure concerns”

DETROIT, Dec 14 (Reuters) – General Motors (GM.N) CEO Mary Barra has made many bold moves during a decade on the job to lift the automaker’s share price: jettisoning money-losing operations in Europe, promising to outsell Tesla (TSLA.O) in the electric-vehicle market and betting billions on developing a profitable robotaxi business.

Investors are unmoved. GM shares are trading close to the $33 a share at which they went public in 2010 following the company’s government-financed bankruptcy. Since hitting $63 a share in November 2021, GM shares have fallen 47%. Continue reading “GM’s Barra reboots her 10-year effort to lift stagnant shares”

PTI

Updated On Dec 13, 2023 at 06:27 PM IST

The government on Wednesday said it is not considering any proposal to provide duty concessions and exemption from local value addition for import of electric vehicles into the country. Responding to a question whether there is any proposal to exempt Tesla and other multinational car companies from local value addition of cost in heavy batteries, semiconductors and magnetic parts; and subsidy on the import duty on the import of Electric Vehicles (EVs) in India, Minister of State for Commerce and Industry Som Parkash said a production-linked incentive scheme for automobile and auto component industry with a budgetary outlay of INR 25,938 crore was announced by the government.

Continue reading “No proposal to provide duty concession on import of EVs: Govt”

PTI

Updated On Dec 13, 2023 at 11:50 AM IST

Industry body India H2 Alliance on Tuesday said it has expanded its membership with seven new industry members. The India H2 Alliance is an industry coalition of global and Indian companies committed to the creation of a hydrogen value-chain and economy in India.

The India H2 Alliance has expanded its membership with seven new industry members Torrent Power, Synergen Projects, Godawari Power and Ispat, Technip Energies, HSBC Bank, Bureau Veritas and Newtrace joining the IH2A industry coalition, according to a statement.

Continue reading “India Hydrogen Alliance gets seven new industry members”

PTI

Updated On Dec 14, 2023 at 08:35 AM IST

Diversified conglomerate Mahindra Group donated INR 1 crore to the Tamil Nadu government as their contribution towards relief and rehabilitation works following the havoc caused by Cyclone Michaung in the northern parts of the state, the company said on Wednesday.

Mahindra and Mahindra Automotive Technology and Product Development president R Velusamy presented the cheque to Chief Miniter M K Stalin.

Continue reading “Mahindra Group, MRF Ltd contribute to TN cyclone relief”

By David Shepardson

Reuters

By Nick Carey and Paul Lienert

By David Shepardson

By Greg Bensinger and David Shepardson

Dec 13 (Reuters) – General Motors’ Cruise robotaxi unit dismissed nine key people amid an ongoing safety investigation, according to a memo seen by Reuters on Wednesday, which the company confirmed included Chief Operating Officer Gil West.

The investigation relates to an Oct. 2 incident in which a woman was struck and dragged by a Cruise vehicle in San Francisco.

Continue reading “Exclusive: GM’s Cruise robotaxi unit dismisses nine execs after safety probe”

Source : PTI | The Maharashtra government will find out if ethanol can be produced from mahua flowers in Gadchiroli district and subsidy would be given if the plan works out, Deputy Chief Minister Devendra Fadnavis said on Monday. Fadnavis said efforts were on to see if wine could be produced from mahua flowers so that income of tribals can be raised, but at the same time one also needs to see if such a programme was needed in the district.

Speaking on the issue in the Legislative Council, MLC Satyajit Tambe had raised objection saying Gadchiroli is a liquor-free district but a company had carried out ‘bhoomipujan’ to start manufacturing wine from mahua flowers.

Continue reading “Govt will see if ethanol can be produced from mahua flowers in Gadchiroli: Fadnavis”

Source : PTI | Mumbai: Aluminium producer Hindalco Industries on Tuesday announced its plan to set up a battery foil manufacturing facility at Sambalpur in Odisha with an investment of INR 800 crore to tap the fast-expanding electric vehicle market. The facility, to be commissioned by July 2025, will initially produce 25,000 tonnes of the aluminium foil which forms the backbone of lithium-ion and sodium-ion cells, Hindalco Industries said.

The company also plans to significantly expand its capacity of making fine-quality aluminium foil which is used in rechargeable batteries, Hindalco said in a statement. Continue reading “Hindalco plans INR 800 cr investment to set up battery foil manufacturing unit in Odisha”

Source : PTI | FedEx Express on Tuesday said it has committed a corporate social responsibility grant worth USD 10 million to the IIT-Bombay and IIT-Madras, which would help the two institutions set up a ‘centre of excellence’ each on their campuses. This collaboration reaffirms FedEx’s commitment to advancing technology, leveraging talent, sustainability, and fostering startup growth, the company said in a statement.

“FedEx has committed USD 10 million corporate social responsibility grant to the IIT-Bombay and IIT-Madras. Continue reading “FedEx commits USD 10 million corporate social responsibility grant to IIT-Bombay, IIT-Madras”

Source : PTI | New Delhi: Tata Motors recorded its highest-ever monthly retail sales in November on the back of robust demand for its sports utility vehicles amid the festive period, according to a top company official. In an interaction with PTI, Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said the automaker retailed around 53,000 units in November, which was 8 % higher as compared to October this year and 30 % up as compared to sales in November 2022.

The company also witnessed strong sales performance in the 47 days long festive period this year with registrations of around 79,374 units, up 18 % over the same period of last year. Continue reading “Tata Motors reports highest-ever monthly retail sales in November”

(Reuters) – Nikola founder Trevor Milton should receive around 11 years in prison for defrauding investors in the electric- and hydrogen-powered truck maker, prosecutors in New York said on Tuesday.

Milton was convicted at trial in October 2022 on two counts of wire fraud and one count of securities fraud. Prosecutors said Milton targeted retail investors with false claims about Nikola’s technology starting in 2019. Continue reading “US prosecutors seek 11-year sentence for Nikola founder Trevor Milton”

LONDON, (Reuters) – Global sales of battery electric vehicles (BEV) and plug-in hybrids (PHEV) rose 20% versus a year ago as strong growth in North America and China offset lower sales in Europe, according to market research firm Rho Motion.

Sales of BEVs and PHEVs hit a fresh monthly record of 1.4 million units, up from 1.1 million in November 2022.

“Sales have continued to rise despite a lot of negative sentiment in the market and we’re expecting sales to remain strong in December,” data manager Charles Lester told Reuters. Continue reading “Global EV sales hit new record in November – Rho Motion”

(Reuters) – General Motors (GM.N) and Komatsu (6301.T) said on Tuesday they will jointly develop a hydrogen fuel cell power module for the Japanese construction machinery maker’s 930E electric drive mining truck.

“Mining trucks are among the largest, most capable vehicles used in any industry, and we believe hydrogen fuel cells are best suited to deliver zero emissions’ propulsion to these demanding applications,” Charlie Freese, executive director of Hydrotec, the No.1 U.S. automaker’s fuel cell unit, said in a statement. Continue reading “GM, Komatsu to develop hydrogen fuel cells for electric mining truck”

PARIS, (Reuters) – French carmaker Renault (RENA.PA) will sell a 5% stake in Nissan (7201.T) back to the Japanese group in the first stage of a planned reduction of its holding as the two automakers rebalance their long-standing alliance, both companies said on Tuesday.

The move, which Renault said will reflect a loss on its initial investment of up to 1.5 billion euros ($1.62 billion), will be the first tranche of a series of share sales by Renault to reduce its Nissan stake to 15% from around 43%. Continue reading “Renault to sell 5% of Nissan stake, to book 1.5 billion euro loss”

SEOUL, (Reuters) – Under pressure from clients eager to diversify away from China, South Korean makers of automotive batteries have pledged to develop a more affordable type of battery chemistry favoured by their Chinese rivals.

But LG Energy Solution (LGES) (373220.KS), SK On and Samsung SDI (006400.KS) say it will be hard to go full steam ahead with lithium iron phosphate (LFP) batteries as they can’t yet compete on price, executives and company officials familiar with their business strategies said. Continue reading “South Korean auto battery firms take on Chinese rivals but with trepidation”

WASHINGTON, (Reuters) – Auto dealers will be barred from luring vehicle buyers with promises they do not keep and will not be able to charge junk fees – like a service contract for an oil change for an electric vehicle – under a new rule, the U.S. Federal Trade Commission said on Tuesday.

The rule could fundamentally change how millions of Americans buy vehicles annually by requiring up-front pricing in dealers’ advertising and sales discussions, and bars the sale of add-on products or services that confer no benefit to consumers. Continue reading “US FTC finalizes car-buying rules to rein in junk fees, bait-and-switch”

Reuters

Reuters

By Jacob Gronholt-pedersen

COPENHAGEN, Dec 11 (Reuters) – U.S. carmaker Tesla Inc (TSLA.O) will be urged to respect collective bargaining for its employees in the Nordic region in a joint letter to be sent by a group of pension funds this week, four of the funds said on Monday.

Tesla is facing a backlash from unions and some pension funds in the region over its refusal to accept a demand from Swedish mechanics for collective bargaining rights covering wages and other conditions.

Continue reading “Tesla to be asked by Nordic pension funds to respect collective bargaining”

Source : PTI | New Delhi: There is a need to generate demand for electric vehicles and establish a holistic ecosystem, including charging network, for accelerated growth for the sector, Kinetic Green Founder & CEO Sulajja Firodia Motwani said on Friday. Motwani, who is also the Chairperson of FICCI EV Committee, also emphasised the importance of electrification in achieving the country’s net-zero emission targets.

Speaking at a Ficci event here, Motwani emphasised the need to make EV prices attractive for consumers, and recognise the importance of putting in place a holistic EV ecosystem, including batteries, cells, minerals, and charging stations. Continue reading “Need to generate demand, setup holistic ecosystem for EV growth: Sulajja Firodia Motwani”

Source : PTI | Adani group will spend INR 7 lakh crore in capital expenditure over the next 10 years and its billionaire chairman Gautam Adani has shared some details of the plans which will further consolidate the conglomerate’s position as infrastructure leader in India.

Adani in posts on X, formerly Twitter, has over the last few days detailed ‘green’ initiatives of the investment plan across some verticals of the apples-to-airport conglomerate. Continue reading “Gautam Adani details green elements of INR 7 lakh cr investment planned across verticals”