ALEXANDRIA, Louisiana, (Reuters) – Start-up tech firms are racing to transform the way rare earths are refined for the clean energy transition, a push aimed at turbocharging the West’s expansion into the niche sector that underpins billions of electronic devices.

The existing standard to refine these strategic minerals, known as solvent extraction, is an expensive and dirty process that China has spent the past 30 years mastering. MP Materials (MP.N), Lynas Rare Earths (LYC.AX) and other Western rare earths companies have struggled at times to deploy it due to technical complexities and pollution concerns. Continue reading “Insight: Western start-ups seek to break China’s grip on rare earths refining”

Source : PTI | New Delhi, The proposed 5 per cent blending of biogas with natural gas supplies in the country can cut LNG imports worth USD 1.17 billion annually, says a study by the Indian Biogas Association (IBA). The study comes against the backdrop of the government’s recent mandate to blend one per cent biogas with piped natural gas (PNG) supplies in the country from April 1, 2025 under the compressed biogas blending obligation (CBO) scheme.

The biogas blending is proposed to be further increased to 5 per cent by fiscal year 2028-29. Continue reading “Proposed 5% biogas blending with natural gas can cut LNG imports worth USD 1.17 bn: IBA”

TOKYO, Dec 4 (Reuters) – Toyota Motor (7203.T) said on Monday it would increase its line-up of battery electric vehicles in Europe to six models by 2026 and it expected such vehicles to make up more than 20% of new car sales in the region by then.

The world’s largest automaker by sales said in a statement it expected to sell more than 250,000 battery-powered vehicles annually in Europe by 2026, as it seeks steep growth in a market where it has long been overtaken by rivals. Continue reading “Toyota plans to expand battery EV line-up in Europe to 6 models by 2026”

SHANGHAI, Dec 4 (Reuters) – China’s electric vehicle giant BYD (002594.SZ) said on Sunday it would make permanent its system offering tipsters who report smear campaigns against the company up to 5 million yuan ($700,918).

The company in June 2022 increased the maximum amount providers of such information could receive from 1 million yuan to 5 million yuan, saying that policy was valid for a year. The minimum amount is 50,000 yuan. Continue reading “China’s BYD says will keep reward system for smear campaign tipsters”

BRUSSELS, Dec 4 (Reuters) – Electric vehicle drivers hoping to top up their batteries at one of Repsol’s (REP.MC) 1,600 Spanish charging stations might well be disappointed, with nearly half lying dormant because they have no power connection.

Such gaps are evident across the European Union, where last week the European Commission announced plans to upgrade the bloc’s power grids. These are due to be implemented in 18 months and include addressing EV charging station power shortages. Continue reading “EV charging growth plans slowed by EU’s power grid problems”

COPENHAGEN, Dec 4 (Reuters) – Volvo Cars’ (VOLCARb.ST) sales grew 8% in November from a year earlier to 63,682 cars, the Sweden-based group said on Monday.

Volvo Cars, which is majority-owned by China’s Geely (0175.HK), said in a statement that its fully electric and hybrid cars in November made up more than 50% of all cars sold in Europe, its biggest market. Continue reading “Volvo Cars’ November sales rise 8%”

BEIJING/SHANGHAI, Dec 4 (Reuters) – Sales of U.S. automaker Tesla’s (TSLA.O) China-made electric vehicles (EVs) skidded 17.8% in November from the same month a year earlier, to 82,432 cars, China Passenger Car Association (CPCA) data showed on Monday.

That marked the biggest fall since December 2022 when Tesla’s sales of China-made EVs fell 21% on the year as the U.S. automaker reduced output and cut prices to deal with rising inventories and weakening demand. Continue reading “Tesla’s China-made EV sales fall 17.8% in Nov, biggest drop since Dec 2022”

HANOI, Dec 4 (Reuters) – The United States International Development Finance Corporation (DFC) has signed a letter of interest with electric vehicles maker VinFast to consider the Vietnamese company’s application for a $500 million loan for expansion, VinFast said on Monday.

The loan, which will be used to support VinFast’s establishment of lithium-ion battery manufacturing facilities in Vietnam, is subject to a comprehensive review and approval process by DFC, the carmaker said in a statement. Continue reading “US DFC considers $500 mln loan to Vietnamese EV maker VinFast”

BELGRADE, Dec 3 (Reuters) – Serbian President Aleksandar Vucic said on Sunday he expects automaker Stellantis (STLAM.MI) to produce an electric Fiat Panda city car in the central town Kragujevac.

Vucic who spoke after meeting Italian Prime Minister Giorgia Meloni did not give any specific date for the production launch. Continue reading “Serbia’s Vucic says electric Fiat Panda model to be produced in Serbia”

Source : PTI | Honda Motorcycle & Scooter India (HMSI) on Friday said it is recalling a certain number of H’ness CB350 and CB350RS units to inspect and replace faulty parts. It has been identified that due to an improper process being followed to manufacture the rubber parts of rear stop light switch there are chances of crack development on the rubber, the two-wheeler maker said in a statement. .

This might cause water entry and corrosion inside the switch, leading the light to malfunction, it added. Continue reading “HMSI recalls H’ness CB350, CB350RS to replace faulty parts”

WASHINGTON, Dec 1 (Reuters) – General Motors said Friday that it expects many of its electric vehicles to qualify for U.S. tax credits next year after new stricter rules limiting Chinese battery content take effect.

“Due to GM’s historic investments in the U.S and efforts to build more secure and resilient supply chains we believe GM is well positioned to maintain the consumer purchase incentive for many of our EVs in 2024 and beyond,” the automaker said after the Biden administration issued new guidance. Continue reading “GM believes many of its EVs will qualify for tax credits in 2024”

WASHINGTON, (Reuters) – The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year.

In a win for automakers, the U.S. Treasury will temporarily exempt some trace critical minerals from new strict rules barring materials from China and other countries deemed a “Foreign Entity of Concern.” (FEOC) Continue reading “US to limit Chinese firms, battery parts from winning EV tax credits”

WASHINGTON, (Reuters) – A U.S. auto safety regulator said on Friday it is opening an investigation into 73,000 Chevrolet Volt plug-in hybrid cars over reports of abrupt loss of power, failures to restart and other issues.

The National Highway Traffic Safety Administration said it was opening the preliminary evaluation into the 2016 through 2019 model year Chevrolet Volt after 61 complaints tied to the battery energy control module (BECM). Some complaints reported there was little to no warning before the loss of operating power or reduced power mode occurred. Continue reading “US opens probe into 73,000 Chevrolet Volt cars over loss of power”

Source : PTI | State-owned Gail India on Friday said it has initiated legal proceedings against a former unit of Russian energy giant Gazprom for non-delivery of LNG and has sought USD 1.817 billion in damages. In a stock exchange filing, the gas utility said it has filed an arbitration claim before the London Court of International Arbitration for “non-supply of LNG cargoes under long-term contract.”

GAIL in 2012 signed a 20-year deal to buy as much as 2.85 million tonnes per annum of liquefied natural gas (LNG) with Russian energy giant Gazprom.

Continue reading “GAIL seeks USD 1.8 bn from former Gazprom unit”

Source : PTI | Japanese auto major Toyota Motor Corporation on Friday announced a regional restructuring with India being integrated into its ‘Middle East, East Asia & Oceania Region’ operations and slotting the country to act as the hub of the new geography. As part of this development, Masakazu Yoshimura, MD and CEO of Toyota Kirloskar Motor (TKM) — the company’s joint venture in India with the Kirloskar group — will concurrently be the Regional CEO, Toyota Motor Corporation (TMC) said in a statement.

“Currently, as a part of the Asia Region, the Indian market already enjoys high priority. With this change, India will now play an even more crucial role by being integrated into the Middle East, East Asia & Oceania Region and acting as the hub of the new ‘India, Middle East, East Asia & Oceania Region’ starting January 1, 2024,” it said. Continue reading “India to act as Toyota’s new regional hub”

Source : PTI | New Delhi: India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. If the government has to consider providing incentives then it will only be for all EV makers and entrants who want to come to India, the official said.

The official added that inter-ministerial discussions have happened on the customs duty concession demand of the US-based electric car maker Tesla, but “we never” come to any conclusion on those. Continue reading “Will never give company-specific incentives in EV sector, govt official on Tesla’s demand”

Source : PTI | Cab aggregator Uber on Thursday announced the launch of its global flagship electric vehicle service Uber Green in Bengaluru which allows residents of the tech city to book sustainable and eco-friendly rides on their app. Karnataka Information Technology Minister Priyank Kharge flagged off the first Uber Green vehicles from the Bengaluru Palace on the sidelines of the Bengaluru Tech Summit.

The cab aggregator said Uber Green is now available in several parts of the city including most of central Bengaluru and that it will soon be extended to more parts of the city. Continue reading “Uber Green launched in Bengaluru; offers sustainable transport option”

BEIJING, Dec 1 (Reuters) – China’s electric vehicle giant BYD Co Ltd (002594.SZ) on Friday announced subsidies for some models and a discount of up to 20,000 yuan ($2,803) in December for buyers who are switching from oil to electric cars.

BYD in March set a target to sell 3 million vehicles by the end of this year, local media Yicai has reported. Continue reading “China’s BYD offers subsidies, discount for some models in December”

(Reuters) – Elon Musk is keen to achieve what no business leader has done before, from mass-producing electric cars to developing reusable space rockets. Now he is blazing another trail most chief executives have avoided: the profane insult.

The Tesla (TSLA.O) CEO told advertisers who have fled his social media platform X over antisemitic content to “Go fuck yourself!” in an interview on Wednesday.

Several business communications analysts said they couldn’t remember a similar case of an executive publicly cursing at their customers. The job of a CEO is to do deals, not burn bridges, they said. Continue reading “Trailblazer Elon Musk pushes a profane new frontier”

WASHINGTON, Dec 1 (Reuters) – A U.S. auto safety regulator said on Friday it is opening an investigation into 73,000 Chevrolet Volt plug-in hybrid cars over reports of abrupt loss of power, failures to restart and other issues.

The National Highway Traffic Safety Administration said it was opening the preliminary evaluation into the 2016 through 2019 model year Chevrolet Volt after 61 complaints tied to the Battery Energy Control Module (BECM). Some complaints reported there was little to no warning before the loss of operating power or reduced power mode occurred. Continue reading “US opens probe into 73,000 Chevrolet Volt cars over loss of power”

Dec 1 (Reuters) – Electric-vehicle maker Fisker (FSR.N) said on Friday it will scale down production this month and produce lesser cars this year than its previous guidance, to prioritize cash for working capital needs.

Shares of the EV maker, which has been struggling with a cash crunch, rose 7% in premarket. Continue reading “Fisker scales back production to divert cash for working capital”

WASHINGTON, Dec 1 (Reuters) – The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year.

In a win for automakers, the U.S. Treasury will temporarily exempt some trace critical minerals from new strict rules barring materials from China and other countries deemed a “Foreign Entity of Concern.” (FEOC) Continue reading “US to limit Chinese firms, battery parts from winning EV tax credits”

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Morris Garages India welcomes JSW Group as its new JV partner for a tech enabled future with a focus on green mobility and innovation.

President of SAIC Motor, Wang Xiaoqiu, and JSW Group’s Parth Jindal signed crucial agreements at the MG UK Headquarters in London, in the presence of Rajeev Chaba, President and MD of MG Motor India.

This collaboration aims to turbocharge the transformation of MG Motor in India, unlocking a new era of innovation and sustainability.

Continue reading “It’s Official! Morris Garages India welcomes JSW Group as its new JV partner”

DELHI: 30 Nov. 2023 — High implementation of service advisor actions during pre-service assists original equipment manufacturer (OEM) workshops in a multi-faceted manner, according to the J.D. Power 2023 India Customer Service Index (CSI) Study,^SM released today. After a hiatus since 2021, J.D. Power has re-launched the India Customer Service Index Study in collaboration with NielsenIQ.

Pre-service actions by the service advisors combine several actions like multi-point inspection, explanation of work before service, being fully aware of customer needs, providing helpful advice and having sufficient technical knowledge. The study finds that customers who have received implementation of all these elements have an increase of 20 points (on a 1,000 -point scale) than those who do not (848 vs. 828, respectively). In addition, these customers end up spending 7% more on their service than those who do not receive these implementations. Continue reading “MG Motor India Tops 2023 India JD Power CSI Study for Third Consecutive Year”

Source : PTI | Transitioning to a more sustainable and carbon-neutral future will require USD 13.5 trillion in investments by 2050, particularly in the production, energy and transport sectors, a new World Economic Forum report said on Tuesday. The report noted that major producing countries and regions such as India, China, the US, and EU have now committed to net-zero targets, making it imperative for businesses within their jurisdictions to align their operations and strategies with the evolving regulatory landscape.

However, complex and ever-changing policy regimes result in businesses allocating substantial resources towards compliance, impeding progress, and therefore establishing more consistent and stable regulatory frameworks with well-defined timelines is imperative for mitigating these risks, it said. Continue reading “WEF says USD 13.5 trillion needed to fast-track decarbonisation of key sectors”

MOSCOW, Nov (Reuters) – Furloughed workers at Volkswagen’s former plant in Russia are being offered redundancy, according to the union representing them, as the new owners struggle to find a partner to resume output six months after VW finalised its exit from the country.

The plant, in Russia’s Kaluga region south of Moscow, has annual production capacity of 225,000 cars, but Russia’s invasion of Ukraine brought work to a standstill. The plant will remain idle until at least March 2024, the trade union added. Continue reading “Six months after Volkswagen exit, idle Russian car plant offers workers redundancy”

HONG KONG/SHANGHAI, Nov (Reuters) – Huawei Technologies’ (HWT.UL) new smart car software and components firm is set for a valuation of up to 250 billion yuan ($34.67 billion) after it sells stakes to investors including Changan Auto, three people with knowledge of the matter said.

The Chinese company said on Sunday it will spin off its four-year-old Intelligent Automotive Solution (IAS) business unit – which aimed to become the equivalent of German automotive supplier Bosch of the intelligent electric vehicle (EV) era – into a new company which will receive the unit’s core technologies and resources. Continue reading “Exclusive: Huawei’s new smart car firm valued up to $35 billion amid advanced stake talks”

TOKYO, Nov (Reuters) – Toyota (7203.T) and two affiliates will divest at least 8% of supplier Denso (6902.T), the companies said on Wednesday, a $4 billion deal that sparked investor hopes the world’s top-selling automaker will shed more of its numerous cross-shareholdings.

The share sale, which was first reported by Reuters on Tuesday, will be Japan’s second biggest this year and the largest in the global auto industry in more than a decade, according to LSEG data. Continue reading “Toyota group to sell 8% Denso stake, investors want more unwinding”

Summary

• GM to buy back $10 bln in stock, boost dividend by 33%
• Stock jumps 9.8%, Ford and Stellantis also gain
• GM cuts 2023 profit outlook
• GM to cut spending on robotaxi unit Cruise
• CEO Barra ‘disappointed’ with EV production this year

Nov 29 (Reuters) – General Motors (GM.N) said on Wednesday its new labor deals after a lengthy U.S. strike will cost it $9.3 billion even as it outlined $10 billion in share buybacks, a 33% dividend increase and “substantially lower” spending at its robotaxi unit Cruise. Continue reading “GM sees $9.3 billion hit from labor deals, outlines $10 billion stock buyback”

WASHINGTON, Nov (Reuters) – The United Auto Workers union said on Wednesday it is launching a first-of-its-kind push to publicly organize the entire nonunion auto sector in the U.S. after winning new contracts with the Detroit Three automakers.

The Detroit-based UAW said workers at 13 nonunion automakers were announcing simultaneous campaigns across the country to join the union, including at Tesla (TSLA.O), Toyota (7203.T), Volkswagen (VOWG_p.DE), Hyundai (005380.KS), Rivian (RIVN.O), Nissan (7201.T), BMW (BMWG.DE) and Mercedes-Benz (MBGn.DE). Continue reading “UAW launches bid to organize Tesla and ‘entire non-union auto sector’ in US”

Source : PTI | The Centre on Tuesday ordered the revocation of restrictions under Stage-III of GRAP in the entire NCR with immediate effect, following improvement in air quality. The Commission for Air Quality Management in National Capital Region and Adjoining Areas (CAQM), a statutory body responsible for formulating strategies to combat pollution in the region, met on Tuesday in view of the significant improvement in the overall air quality of Delhi-NCR.

The air quality forecasts by the India Meteorological Department/Indian Institute of Tropical Meteorology do not indicate the average air quality of Delhi to move to ‘severe’ category in the coming days for which forecast is available, the CAQM said. Continue reading “Restrictions on petrol and diesel four wheelers in Delhi-NCR scrapped as air quality improves”

SINGAPORE, Nov 28 (Reuters) – Lotus Technology, the luxury electric vehicle arm of sports car brand Lotus, said on Tuesday it has secured $870 million in financing ahead of the completion of its merger with blank check company L Catterton Asia Acquisition (LCAA) (LCAA.O).

All of the financing was secured based on a $5.5 billion valuation, China-headquartered Lotus Technology said in a statement. Continue reading “Lotus Tech secures $870 mln ahead of deal completion with L Catterton SPAC”

SHENZHEN, China, Nov (Reuters) – Huawei Technologies (HWT.UL) said some of its automotive partnerships, having gained skills in user experience, product design and marketing, were now ready to move towards independent operations and investment.

Huawei’s managing director and chairman of its smart car solutions unit Richard Yu made the comments while speaking at a launch event in Shanghai for the Luxeed S7 sedan that Huawei has jointly developed with Chinese automaker Chery(CHERY.UL). Continue reading “Some Huawei car businesses moving towards independence, autos chief says”

Summary

• Group companies to sell about 10% stake by year-end-sources
• Toyota Motor expected to remain Denso’s top shareholder-sources
• Denso to buy back shares to offset hit to share price-sources

TOKYO, Nov 28 (Reuters) – Toyota Motor (7203.T) and two affiliates plan to sell about 10% of components maker Denso (6902.T) by year-end, a stake likely worth about $4.7 billion, sources familiar with the matter said.

The sale of shares in Denso would mark the latest step by the world’s top selling automaker to cash in on stakes in affiliates as it ramps up production of fully electric vehicles, a capital-intensive endeavour that spans research and development to an overhaul of the factory floor. Continue reading “Exclusive: Toyota group companies plan $4.7 billion sale of Denso stake”