OSHAWA, Ontario, Oct 10 (Reuters) – General Motors (GM.N) and Canadian union Unifor reached a tentative agreement on Tuesday just hours after 4,300 workers went on strike at three GM facilities.

The union said the tentative agreement follows the pattern agreement Unifor reached with Ford Motor (F.N) last month and includes wage hikes of up to 25%. The strike ended after about 12 hours in which it had threatened the largest U.S. automaker’s profitable full-size truck production. Workers must still vote to approve the agreement. Continue reading “GM, Canadian union reach tentative agreement, ending strike”

Source : PTI | New Delhi: Vietnam’s electric car maker VinFast Auto on Thursday said it is planning to invest up to USD 200 million (nearly Rs 1,665 crore) to set up assembly units in India and Indonesia with production expected to commence by 2026. VinFast, a competitor of American electric carmaker Tesla, “is aiming to access the tremendous potential for increased EV adoption in India and Indonesia where EV penetration is currently only 1 per cent”, the company said, citing media reports in its third quarter earnings statement.

“The establishment of VinFast facilities in these local markets can provide access to government incentives for local manufacturing, relief from certain tariffs and taxes and access to raw materials at attractive rates,” it said. Continue reading “VinFast Auto earmarks USD 200 mn for assembly units in India, Indonesia”

Source : PTI | India and Saudi Arabia on Sunday inked an initial pact to collaborate in the field of electrical interconnections, green/clean hydrogen and supply chains. The Memorandum of Understanding (MoU) aims to establish a general framework for cooperation between the two countries in the field of electrical interconnection and exchange of electricity during peak times and emergencies.

Besides, both the countries aim for co-development of projects, co-production of green/clean hydrogen and renewable energy, and also establishing secure, reliable and resilient supply chains of materials used in green/clean hydrogen and the renewable energy sector. Continue reading “India, Saudi Arabia tie up for electrical interconnections, green hydrogen”

Source : PTI | New Delhi: Calls to phase out unabated fossil fuels, reform subsidies on it and triple global renewable energy capacity may find their way into the outcome of the first-ever global stocktake, a periodic assessment of collective efforts to achieve the Paris Agreement goals. Initiated in Glasgow in 2021, the first-ever global stocktake will conclude at the annual climate talks (COP28) in Dubai in December.

The United Nations Framework Convention on Climate Change (UNFCCC) recently released a report summarising submissions made by countries and non-party stakeholders regarding the political response to the global stocktake. Continue reading “Call for fossil fuel phase-out on global stocktake agenda: UN report”

Source : PTI | Electric mobility startup Entuple E-Mobility and automotive systems supplier Aditya Auto have formed a joint venture to set up manufacturing facilities to supply electric traction hubs and mid-drive motors in Bangalore, a joint statement said on Monday. The JV will be funded through equity contributions by the two partners, and the facility will have a manufacturing capacity of 2,70,000 units per annum of hub motors and 2,25,000 units per annum of mid-drive motors (48V), it added.

Production for hub motors is expected to commence from next month, while mid-drive motors from December as the joint venture’s Traction Motor plant gets commissioned, the statement said. Continue reading “Entuple e-Mobility and Aditya Auto team up for high-performance EV motors”

BEIJING/SHANGHAI, Oct 8 (Reuters) – U.S. automaker Tesla (TSLA.O) sold 74,073 China-made electric vehicles (EVs) in September, a 10.9% decrease from a year earlier, showed data from the China Passenger Car Association (CPCA) on Sunday.

Sales of China-made Model 3 and Model Y cars were down 12.0% from a month earlier. Continue reading “Tesla’s China-made EV sales volume falls 10.9% year-on-year in September”

GRUENHEIDE, Germany, Oct 9 (Reuters) – Tesla (TSLA.O) workers at the carmaker’s Brandenburg plant are joining the IG Metall union in rising numbers over concerns around health, safety and overwork, the union said on Monday.

Lack of staff and inadequate safety provisions in the workplace were leading to a high number of accidents at work, and it was not rare that around 30% of workers were signed off sick, the union said in a statement. Continue reading “Tesla workers in Germany join union as health and safety issues grow – union”

SHENZHEN, China, Oct 9 (Reuters) – Huawei-backed electric vehicle (EV) brand Aito has received more than 50,000 orders for its revamped M7 model within the first 25 days since it went on sale, the company said.

Richard Yu, Huawei’s Smart Car CEO, announced the milestone on his Weibo social media account on Saturday. Continue reading “Huawei-backed Aito says gets 50,000 orders for M7 car since relaunch”

BEIJING/SHANGHAI, Oct 8 (Reuters) – U.S. automaker Tesla (TSLA.O) sold 74,073 China-made electric vehicles (EVs) in September, a 10.9% decrease from a year earlier, showed data from the China Passenger Car Association (CPCA) on Sunday.

Sales of China-made Model 3 and Model Y cars were down 12.0% from a month earlier. Continue reading “Tesla’s China-made EV sales volume falls 10.9% year-on-year in September”

Oct 9 (Reuters) – Union workers at Volvo Group-owned (VOLVb.ST) Mack Trucks went on strike on Monday morning after overwhelmingly rejecting a proposed five-year contract deal, the United Auto Workers said, making it the latest tentative labor agreement to be voted down.

About 73% of workers – covering 4,000 workers in Pennsylvania, Florida and Maryland – voted against the deal, the UAW said. Continue reading “UAW workers reject Mack Trucks contract, go on strike”

SHANGHAI, Oct 9 (Reuters) – Beijing Hyundai Motor has cut the minimum asking price for its auto plant in China’s southwestern city of Chongqing by almost 30%, to 2.58 billion yuan ($353.38 million), after putting it up for sale in August.

No buyer or timeline has been set for disposal of the plant, part of a joint venture of Hyundai Motor (011760.KS) and Beijing Automotive Group Co, as the South Korean automaker rejigs China strategy amid fierce price competition and slowing demand. Continue reading “Beijing Hyundai Motor cuts asking price for China auto plant by 30%”

Source : PTI | Rise in air pollutionrespiratory ailments in India, experts have said and urged the government to bring a policy limiting the number of cars per family and restricting the number of vehicles plying on roads at a time. On the sidelines of the 25th National Conference on Pulmonary Diseases (NAPCON-2023), organised by the Indian Chest Society here, Dr Rakesh K Chawla, the chairman of Pulmonology and Critical Care at Jaipur Golden Hospital, said air pollution has short-term as well as long-term effects on health.

“The immediate effects are in the form of irritation in the eyes and throat. Also, there is an increase in the severity of asthma attacks,” said Dr Chawla, who is also the organising chairman of NAPCON-2023. Continue reading “Growing air pollution crisis demands govt policy on vehicle limitations”

BERLIN, Oct 7 (Reuters) – The auto battery parts joint venture between Volkswagen’s (VOWG_p.DE) PowerCo and Belgian materials firm Umicore (UMI.BR) has chosen Poland as the site for its first factory, PowerCo said on Saturday.

Through the $2.9 billion joint venture, dubbed Ionway, first flagged in December 2021, the companies are joining a number of European automakers that have brought battery supplies closer to home in the shift towards electric vehicles. Continue reading “Volkswagen, Umicore venture picks Poland for first car battery parts plant”

SHANGHAI, Oct 7 (Reuters) – Tesla (TSLA.O) has signed a leasing contract with Shanghai Waigaoqiao Free Trade Zone Group (600648.SS) to open a massive sales and service centre in an industrial park in the city, its biggest one in China, the government-owned company said.

The Tesla store, with a size of 8,000 square metres, or 861,000 square feet, will open in mid-2024 in Xin Park, under development in Shanghai’s Pudong district, according to a statement on the Chinese company’s official Wechat account on Saturday. Continue reading “Tesla signs lease to open vast sales and service centre in Shanghai industrial park”

SBI General Insurance on Friday appointed Rakesh Kaul as Chief Business Officer.

In his new role, he will be responsible for developing and executing business strategies, overseeing sales and distribution efforts, and driving overall company growth. Continue reading “SBI General Insurance Appoints Rakesh Kaul As Chief Business Officer”

Source : PTI Tata Motors on Friday said its global wholesales, including that of Jaguar Land Rover, rose 7% to 3,42,376 units in the second quarter of the current fiscal. Global wholesales of Tata Motors commercial vehicles and Tata Daewoo range in the July-September quarter of FY24 were at 1,06,620 units, up 3% over Q2FY23, the company said in a statement.

However, the company’s global sales of all passenger vehicles, including electrical vehicles, were at 1,38,939 units, lower by 3% year-on-year. Continue reading “Tata Motors global wholesales rise 7% to 3.42 lakh units in Sept qtr”

WASHINGTON, Oct 5 (Reuters) – U.S. National Highway Traffic Safety Administration (NHTSA) officials on Thursday told a public hearing the government should require the recall of 52 million air bag inflators produced by auto suppliers ARC Automotive and Delphi Automotive because they may rupture and send metal fragments flying.

The rarely used NHTSA public hearing could prompt one of the largest recalls in U.S. history. Delphi Automotive, part of Autoliv (ALV.N), manufactured approximately 11 million of the inflators through 2004 under a licensing agreement with ARC, which manufactured the remaining 41 million inflators. An ARC executive argued against a recall during the hearing. Continue reading “US regulators push for recall of 52 million air bag inflators”

WASHINGTON, Oct 6 (Reuters) – The U.S. Treasury Department on Friday issued new guidance on how a $7,500 electric vehicle tax credit can be used as a point-of-sale rebate starting in January.

Currently, consumers can only take advantage of the $7,500 new EV credit or $4,000 used EV credit when they file their tax returns the following year. Continue reading “U.S. Treasury details EV tax credit rebate rules”

Summary

• No new strikes this week against Detroit Three -UAW
• GM makes concession on battery plant workers -UAW
• No agreements yet with GM, Ford, Stellantis

DETROIT, Oct 6 (Reuters) – The United Auto Workers held off on additional strikes against Detroit Three auto plants on Friday, citing General Motors’ (GM.N) unexpected willingness to allow workers at joint-venture battery plants to be covered by union contracts. Continue reading “UAW says its ‘strike is working,’ holds off on more walkouts”

MEXICO CITY, Oct 5 (Reuters) – Final permits for Tesla to build an electric-vehicle (EV) factory in the northern Mexican state of Nuevo Leon could be ready in weeks and the local government is beginning infrastructure work requested by the company, a senior official said on Thursday.

Tesla (TSLA.O) in March announced plans to open a major plant in Nuevo Leon, its first in Mexico, which has also attracted EV investments from other automakers seeking to meet ambitious production targets. The company has not given details on construction or production. Continue reading “Tesla factory permits almost ready in Mexico, as state launches infrastructure work”

WASHINGTON, Oct 6 (Reuters) – The U.S. Treasury Department on Friday issued new guidance on how a $7,500 electric vehicle tax credit can be used as a point-of-sale rebate starting in January.

Currently, consumers can only take advantage of the $7,500 new EV credit or $4,000 used EV credit when they file their tax returns the following year. Continue reading “U.S. Treasury details EV tax credit rebate rules”

BERLIN, Oct 6 (Reuters) – The $2.9 billion battery parts joint venture between Volkswagen’s (VOWG_p.DE) PowerCo and Belgian materials firm Umicore will be called Ionway, the companies said on Friday.

Through the joint venture, first flagged in December 2021, the companies are joining a number of European automakers that have brought battery supplies closer to home in the shift towards electric vehicles. Continue reading “Umicore, Volkswagen present Ionway battery parts joint venture”

BERLIN, Oct 6 (Reuters) – The European Union’s investigation into subsidies for China-made electric vehicles (EV) exported to Europe could do more harm than good, BMW’s (BMWG.DE) chief financial officer said on Friday, warning of a potentially big backlash from Beijing.

Walter Mertl said he did not endorse punitive tariffs and the investigation would shield those who do not have significant sales in China but would impact every carmaker doing business there. Continue reading “BMW says EU subsidy probe into China-made EVs could do more harm than good”

DETROIT, Oct 6 (Reuters) – United Auto Workers President Shawn Fain is scheduled to say later on Friday whether recent intensified bargaining with the Detroit Three automakers has produced enough progress to forestall more walkouts.

A video address by Fain is scheduled for 2 p.m. EDT (1800 GMT) and will cover substantive bargaining updates, people familiar with the UAW’s plans said. That timing is a departure from the previous two Fridays in which Fain addressed union members at about 10 a.m. Detroit time (1400 GMT), and ordered walkouts at additional Detroit Three factories to start at noon. Continue reading “UAW strike decision day comes as bargaining heats up”

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Source : PTI | MG Motor India on Sunday reported a 31 per cent year-on-year growth in retail sales at 5,003 units in September 2023.

Sales of electric vehicles continue to contribute around 25 per cent of the total sales of the company, MG Motor said in a statement. Continue reading “MG Motor retail sales up 31% in Sep at 5,003 units”

Source : PTI | Around 85% of road projects are likely to be completed by the end of this fiscal, as the steps taken by the government to ensure faster clearances like monitoring and quicker resolution of issues have started showing results, Road Transport and Highways secretary Anurag Jain said on Wednesday. Jain said, the Road ministry is getting environment and forest clearance quickly and monitoring mechanisms of delayed projects have been improved.

“We took up completion of projects on time as a challenge, and in cases where the project is already delayed, a revised schedule was taken as the target. I have a feeling that by the end of this financial year (March), we will complete about 85% of projects on time,” he told PTI in an interview. Continue reading “Govt aims to complete about 85% of road projects on time this fiscal: Anurag Jain”

Source : PTI | Hindustan Zinc Ltd has signed a deal to deploy GreenLine Mobility Solution Ltd’s LNG-powered fleet in its supply chain and transportation operations, India’s first and the only LNG-fueled heavy trucking logistics company said on Wednesday. In a statement, GreenLine said it will invest INR 200 crore for deploying LNG-powered trucks for Hindustan Zinc’s road logistics.

“Hindustan Zinc, India’s largest and only integrated producer of zinc, lead and silver, has chosen GreenLine Mobility Solutions Ltd (GreenLine), a part of Essar Group and a pioneer in green mobility solutions, as its sustainable logistics partner and is set to deploy GreenLine’s LNG-powered fleet in its supply chain and transportation operations,” it said. Continue reading “Hindustan Zinc signs deal to deploy GreenLine’s LNG-powered trucks”

Source : PTI | Home-grown battery materials manufacturer Epsilon on Wednesday said it has signed a pact to acquire Johnson Matthey’s LFP cathode technology centre in Germany. This acquisition serves as a catalyst for Epsilon’s ambitious plans to eventually cater to 100 GwH of demand and also allows it to go to markets with a proven high performance cathode active material produced at scale, the city-based company said.

Epsilon, however, did not disclose the financial details of the deal. Continue reading “Epsilon inks pact to acquire Johnson Matthey’s LFP cathode tech centre in Germany”

MEXICO CITY, Oct 4 (Reuters) – The U.S. and Mexico have resolved a labor complaint under a regional trade deal at a Grupo Yazaki auto parts factory in the central Mexican state of Guanajuato, both governments said on Wednesday.

Grupo Yazaki, part of Japan’s Yazaki Corp., agreed to issue a neutrality statement, and the Mexican government will ensure training for workers, union representatives and management about labor rights, the U.S. Trade Representative’s (USTR) office said in a statement. Continue reading “U.S., Mexico resolve labor probe at Grupo Yazaki auto parts plant in Mexico”

SINGAPORE/BRUSSELS, Oct 4 (Reuters) – China complained on Wednesday about the “very short” time provided by the European Union to engage in consultations for the bloc’s inquiry into subsidies for electric vehicles.

The remarks came as the European Commission formally launched the investigation into whether to set tariffs to shield EU producers from a “flood” of imports of cheaper Chinese electric vehicles (EV) it says benefit from state subsidies. Continue reading “China rebukes EU after formal launch of EV subsidy probe”

Oct 3 (Reuters) – Top global automakers on Tuesday reported a rise in U.S. new vehicle sales for the third quarter, buoyed by resilient demand for latest models and improved supplies.

General Motors (GM.N) extended a strong year as it posted an about 21% rise in U.S. sales to 674,336 vehicles, benefiting from demand for its pickup trucks, affordable crossover SUVs and electric vehicles. Continue reading “US new vehicle sales jump in third quarter as UAW strike casts shadow”

Oct 4 (Reuters) – Ford Motor (F.N) on Wednesday posted a near 8% rise in U.S. auto sales for the third-quarter, driven by continued demand for crossover SUVs and pickup trucks.

The automaker notched quarterly sales of 500,504 vehicles, up from 464,674 a year earlier. Continue reading “Ford’s third-quarter US auto sales rise on pickup, crossover SUV demand”

Oct 4 (Reuters) – Toyota Motor (7203.T) and LG Energy Solution (373220.KS) signed a supply agreement for lithium-ion batteries for use in the Japanese automaker’s U.S.-built electric vehicles starting in 2025, the companies said on Wednesday.

The Toyota-LGES announcement caps a tidal wave of investments in new EV battery plants in North America, spurred by the U.S. Inflation Reduction Act. The IRA and other U.S. legislation provide incentives aimed at boosting domestic production of EVs, batteries and raw materials. Continue reading “LGES to supply Toyota with batteries, invest $3 billion in US plant”

DETROIT, Oct 4 (Reuters) – Negotiators for the United Auto Workers and Ford Motor (F.N) have narrowed their differences on pay increases after a new offer from the automaker amid “really active” talks, people familiar with the bargaining among the Detroit Three automakers and the union said on Wednesday.

UAW President Shawn Fain plans to update the union’s 150,000 members at Ford, General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI) on Friday, a person briefed on the union’s plans said. It is not clear whether Fain will order a fresh round of walkouts, or declare sufficient progress has been made to delay strikes at additional plants. Continue reading “UAW, automakers signal progress after days of stalemate -sources”

Source : PTI | New Delhi, Union minister Nitin Gadkari on Monday reiterated India’s commitment to achieving global road safety targets set in the Stockholm Declaration, according to an official statement. Gadkari, while addressing the ministerial session focusing on road safety at the 27th World Road Congress in Prague, Czech Republic, emphasized on adopting a holistic approach to minimise road crashes and fatalities by stakeholders at all levels.

The road transport and highways minister reiterated the country’s special focus on spreading awareness to effect behavioral change and ensuring flawless enforcement of rules. Continue reading “India committed to achieving global road safety targets set in Stockholm Declaration: Gadkari”

MILAN, Oct 3 (Reuters) – Auto parts maker Marelli has paused the process of closing its Crevalcore plant in Italy, saying on Tuesday it had mandated an adviser to seek potential buyers for the site, which employs around 230 people.

Owned by private equity firm KKR (KKR.N), Marelli announced last month its intention to close down the facility, which produces components for internal combustion engines, arguing the business had become unsustainable due to the transition to electric mobility. Continue reading “Auto parts maker Marelli suspends Italian plant closure, to seek potential buyers”