Source : PTI The government has issued draft notification on Bharat New Car Assessment Programme (BNCAP), which proposes awarding ‘Star Ratings’ to automobiles based on their performance in crash tests. The government aims to implement the programme from October 1, 2023. “The BNCAP shall be applicable on the type approved vehicles of category M1 of gross vehicle weight less than 3.5 tonne, manufactured or imported, as specified in the programme,” the draft notification issued by Ministry of Road, Transport and Highways said.

The government has sought comments within 30 days on BNCAP. The draft rules shall be taken into consideration after the expiry of 30 days from the date of the notification which is June 28, 2023, it said. Continue reading “Centre issues draft notification on BNCAP mechanism”

Source : PTI State-owned oil marketers are likely to turn profitable on fuel marketing in the current fiscal ending on March 31, 2024, following large losses in the previous year, Fitch Ratings said on Monday. The rating agency expects India’s petroleum product demand to grow by mid-single digit percentage in the medium term, supported by forecast that the GDP will grow by 6-7 per cent in the next few years, the government’s increasing spending on infrastructure and a pick-up in industrial activity.

“We expect the Indian oil marketing companies’ marketing segment to turn profitable from the financial year ending March 2024 (FY24) as crude oil prices fall to Fitch’s assumption of USD 78.8 per barrel, following large losses in FY23 due to high crude prices and unchanged retail fuel prices,” it said. Continue reading “Oil companies to turn profitable on fuel marketing in FY24: Fitch”

Source : PTI The UK’s international trade minister Nigel Huddleston will kick-start a three-day visit to Kolkata and Dhaka on Monday to unlock new opportunities for British companies to grow trade and win business, a British readout said. It said he will announce a package of partnerships on electric mobility and green construction at a joint session with the West Bengal government.

The UK’s trade with both countries surged last year, up by 50 % with Bangladesh and 45% with India, the readout said. Continue reading “UK trade minister Huddleston to announce India-UK project to manufacture e-vehicles”

Source : PTI : New Delhi: Around 70% construction work on the ambitious India-Myanmar-Thailand Trilateral Highway has been completed, Union Minister Nitin Gadkari has said. India, Thailand and Myanmar are working on about 1,400-km-long highway that would link the country with Southeast Asia by land and give a boost to trade, business, health, education and tourism ties among the three countries.

“Around 70% work of the project is completed,” the minister of Road Transport & Highways told PTI in reply to a question on the progress of the project. Continue reading “Gadkari says 70 percent work of India-Myanmar-Thailand Trilateral Highway complete”

Summary

• Riders who utilize Rapido services between 10 pm and 6 am will receive a safety check call from the Rapido call center after completing their ride.
• Rapido aims to continually enhance the benefits offered to captains under the Auto Dost initiative, ensuring their satisfaction and success.

Bengaluru, July 05 2023: Rapido, India’s leading bike taxi platform, is excited to announce the launch of its innovative initiative, “Auto Dost,” aimed at providing exceptional support to local auto drivers. Additionally, Rapido has introduced a new safety feature called “Night Rides Check” to ensure the well-being of riders travelling between 10 pm and 6 am. Continue reading “Rapido launches “Auto Dost” initiative to empower auto captains and introduces “Night Rider” to ensure rider safety in Bengaluru”

San Francisco, July 3 (Reuters) – Kentucky is requiring that electric vehicle charging companies include Tesla’s plug if they want to be part of a state program to electrify highways using federal dollars, according to documents reviewed by Reuters.

Kentucky’s plan went into effect on Friday, making it the first state to mandate Tesla’s charging technology, although Texas and Washington states previously shared such plans with Reuters. Continue reading “Kentucky mandates Tesla’s charging plug for state-backed charging stations”

MEXICO CITY, July 3 (Reuters) – The U.S. wants Mexico’s government to build strong institutions to protect worker rights as companies aiming to avoid supply chain disruptions in far-off production spots bring more jobs to the country, a top U.S. labor official told Reuters.

Mexico has begun to benefit from “nearshoring” in which companies seek to move production closer to the U.S. market while maintaining competitive costs. Continue reading “As companies bring more jobs to Mexico, US wants labor rights safeguards”

July 3 (Reuters) – Rivian Automotive (RIVN.O) beat market estimates for second-quarter deliveries on higher production and stable demand for its electric vehicles, sending the company’s shares up more than 14% on Monday.

The quarterly delivery numbers are a positive sign for the EV startup that has for months struggled to raise output in the face of supply-chain disruptions and stiff competition from market leader Tesla (TSLA.O). Continue reading “Rivian beats estimates for second-quarter EV deliveries, shares jump”

July 3 (Reuters) – Arrival SA will terminate plans to merge with a blank-check firm and Nikola Corp will offload its newly acquired battery unit, the companies said on Monday, amplifying concerns over the struggles electric vehicle (EV) startups face in building scale.

British electric vehicle company Arrival , whose shares fell more than 2% in extended trading, had said in April it would merge with Kensington Capital Acquisition Corp V (KCGI.N) to bolster its depleting cash pile.

Continue reading “Arrival, Nikola signal more pain for EV startups”

Source : PTI – The Indian government is constructing 10,000 km of greenfield expressways as part of the Bharatmala Pariyojana project, at a cost of INR 4.5 lakh crore. The National Highways Authority of India (NHAI) has raised over INR 70,000 crore through various financing models, which will be used for highway projects. The total National Highway network in India has increased from 91,000 km in 2014 to nearly 1.45 lakh km currently. Continue reading “Govt constructing 10,000 km greenfield expressway projects at INR 4.5 lakh cr investment: Gadkari”

July 3 (Reuters) – Tesla (TSLA.O) shares jumped 6% on Monday after better-than-expected quarterly deliveries showed that Chief Executive Elon Musk’s plan of boosting volumes through discounts was working.

The leading U.S. manufacturer of electric vehicles was set to increase its market capitalization by around $50 billion to $900 billion, based on early trading in its shares. Continue reading “Tesla’s blistering rally continues after quarterly deliveries beat”

OSAKA, Japan, July 3 (Reuters) – The battery arm of Japan’s Panasonic (6752.T) will need to build four more factories to reach its target for a sharp boost in annual capacity of batteries for electric vehicles by 2031, its technology chief told Reuters.

The comments by Shoichiro Watanabe of Panasonic Energy are the Tesla (TSLA.O) supplier’s first clear indication of the number of additional factories it will need. Continue reading “Panasonic needs four more EV battery plants, executive says”

Summary

• The launch aims to showcase Tresa Motors’ commitment to transition India into a global force commercial vehicle industry
• The brand strives to establish itself as a key contributor to fundamental EV component manufacturing reducing current reliance on imports.

Bangalore 3rd July 2023: Tresa Motors has unveiled its first electric Truck, the Model V0.1, built on its groundbreaking Axial Flux Motor Platform: FLUX350. Designed for the global market, the unveil showcases Tresa Motors’ revolutionary take on the industrial design, axial flux powertrain and safe battery packs for the medium and heavy electric truck. This development stands as a testament to Tresa’s unwavering commitment to innovation and its vision for a future driven by sustainable transportation solutions. Continue reading “Tresa Motors introduces India’s first Electric Truck for the Global Market”

Source PTI : Indian automakers Tata Motors, Mahindra & Mahindra, Ashok Leyland, and Hero MotoCorp are increasing the employment of women on their shop floors. Tata Motors has 4,500 women working in its manufacturing plants, including an all-women line producing popular SUVs. Mahindra & Mahindra has seen the number of women employees at its manufacturing plants triple in the past year.

Homegrown automakers Tata Motors, Mahindra & Mahindra, Ashok Leyland and Hero MotoCorp are accelerating the drive to employ more women in shop floors as they press hard on the pedal to enhance diversity. Once outsiders but no longer, thousands of women are now rolling out from two-wheelers to popular SUVs and heavy commercial vehicles across different factories of these companies. Continue reading “Domestic automakers accelerate employment of women in shop floors”

July 3 (Reuters) – Australia’s Kuniko (KNI.AX) said on Monday it had signed an offtake and equity investment agreement with automaker Stellantis (STLAM.MI) to support the development of its Norwegian battery metals projects.

Stellantis would invest 5 million euros ($5.45 million) at an issue price of A$0.467 per share in the battery metals miner in return for a near 20% stake, Kuniko said. Continue reading “Automaker Stellantis signs battery metals offtake deal with Australia’s Kuniko”

July 2 (Reuters) – Tesla Inc (TSLA.O) on Sunday said it delivered a record number of vehicles in the second quarter, topping market estimates as price cuts and U.S. federal credits helped make its electric vehicles more affordable.

The Elon Musk-led company handed 466,140 vehicles in the April to June period, up 10% from the preceding quarter, and 83% higher from a year earlier. Continue reading “Tesla beats second-quarter delivery estimates as price cuts pay off”

SAN FRANCISCO, June 30 (Reuters) – A group of EV charger makers and operators is pushing back against Texas’ plan to mandate the inclusion of Tesla technology in charging stations, saying it is “premature,” according to a document seen by Reuters and a source aware of the matter.

Reuters reported last week that Texas would require charging companies to include both Tesla’s North American Charging Standard (NACS) as well as the nationally recognized rival Combined Charging Standard (CCS) technology to be eligible for a state program to electrify highways using federal dollars. Continue reading “Exclusive: EV charging firms oppose Texas’ ‘premature’ plan to mandate Tesla standard”

SAN FRANCISCO, June 30 (Reuters) – A group of EV charger makers and operators is pushing back against Texas’ plan to mandate the inclusion of Tesla technology in charging stations, saying it is “premature,” according to a document seen by Reuters and a source aware of the matter.

Reuters reported last week that Texas would require charging companies to include both Tesla’s North American Charging Standard (NACS) as well as the nationally recognized rival Combined Charging Standard (CCS) technology to be eligible for a state program to electrify highways using federal dollars. Continue reading “Exclusive: EV charging firms oppose Texas’ ‘premature’ plan to mandate Tesla standard, letter shows”

Summary

• Car parts makers say auto manufacturers use design patents to stifle competition
• Court to consider if Supreme Court overruled design patent validity test

June 30 (Reuters) – Auto parts maker LKQ (LKQ.O) on Friday persuaded a U.S. appeals court to reconsider a decision to uphold a General Motors (GM.N) design patent for a car fender, imperiling an earlier win for GM in a case that has been closely watched by the auto and insurance industries. Continue reading “GM fender design victory in limbo after US appeals court grants rare review”

BENGALURU, June 30 (Reuters) – Indian two-wheeler maker Hero MotoCorp (HROM.NS) on Friday said it would increase prices of specific models of motorcycles and scooters by around 1.5% from July 3, as it combats price positioning, input costs and business imperatives.

The exact quantum of increase will vary by specific models and markets, the company said in an exchange filing. Continue reading “India’s Hero MotoCorp to increase prices of specific two-wheeler models”

HAMBURG, June 30 (Reuters) – Ford (F.N) has found what it described as a major international investor for the U.S. carmaker’s German plant in Saarlouis and has signed initial agreements together with the western state of Saarland, it said at a works meeting at the plant on Friday.

“This is an excellent basis for further negotiations, with the potential to create around 2,500 jobs in Saarlouis,” said Martin Sander, head of the company’s German unit Ford Werke. Continue reading “Ford finds international investor for German plant in Saarlouis”

SAN FRANCISCO, June 30 (Reuters) – Tesla (TSLA.O) is set to report record vehicle deliveries, after the top electric vehicle maker increased discounts and other incentives to boost sales in the face of economic uncertainty and rising competition.

Tesla is expected as early as this weekend to report global deliveries of 445,000 vehicles in April to June, according to the average estimates of nine analysts by Refinitiv. That would be an increase of 5% from 422,875 the preceding quarter. Continue reading “Tesla set to report record quarterly vehicle deliveries, fueled by incentives”

June 30 (Reuters) – A severe storm that hit a Mercedes-Benz (MBGn.DE) plant in the central German city of Kassel last week is estimated to have caused damage in the mid-double-digit-million euro range, said Daimler Truck (DTGGe.DE) in a statement on Friday.

The June 22 storm and flooding that followed damaged roofs, buildings and offices at the plant, which is the global competence centre for electric drive systems and conventional commercial vehicle axles for Daimler Truck, it said. Continue reading “Daimler Truck sees multi-million euros in storm damage at plant”

PARIS, June 30 (Reuters) – MG Motor, owned by Chinese company SAIC Motor (600104.SS), on Friday announced a new leasing offer whereby drivers in France can get for 99 euros ($107.6) a month its MG4 electric car, matching a scheme the French government would like to see benefiting cars made in Europe.

The offer runs from July 1 through to August 31 and is done in conjunction with MG Motor’s French banking partner Credit Agricole Consumer Finance (CAGR.PA). It is based on people getting a “super bonus” incentive of 7,000 euros for low income buyers and also includes a 2,500 euros public aid paid in exchange for scrapping an old thermal engine car.

Continue reading “SAIC’s MG Motor brand launches new electric vehicle leasing offer in France”

June 30 (Reuters) – Electric-car maker Xpeng Inc priced its latest G6 sport utility vehicle about 20% lower than Tesla’s (TSLA.O) Model Y in China, sending its U.S.-listed shares up 7.6% in premarket trading on Friday.

U.S.-listed shares of its peers Li Auto and Nio also rose 0.3% and 2.2%, respectively, in trading before the bell. Continue reading “Chinese EV maker Xpeng’s shares jump after pricing SUV below Tesla Model Y, lifts peers”

MILAN, June 30 (Reuters) – Stellantis (STLAM.MI) has signed an offtake and equity investment agreement with Australia-listed Kuniko (KNI.AX), the latest of a string of deals aiming to give the carmaker stable supply of key materials for vehicle batteries.

Based on the binding agreement, the Franco-Italian automaker will get 35% of future production of battery-grade nickel sulphate and cobalt sulphate from Kuniko’s exploration projects in Norway, for nine years, the two companies said on Friday in a joint statement. Continue reading “Stellantis signs deal with Kuniko for supply of battery materials”

Summary

• Ships running on biofuels account for 2% of Maersk volumes
• Fashion biggest sector choosing its ECO Delivery contracts
• Company hopes industry will help push for methanol fuel

COPENHAGEN, June 30 (Reuters) – Fashion brands are a key driver of demand for green shipping fuels, according to shipping group Maersk (MAERSKb.CO), as the sector faces pressure from consumers and regulators to reduce their climate footprint. Continue reading “Fashion industry driving demand for green shipping, Maersk says”

June 29 (Reuters) – Volkswagen (VOWG_p.DE) is in talks with Tesla (TSLA.O) to adopt its North American Charging Standard (NACS) technology, while the German automaker’s charging network unit Electrify America has already agreed to use the system.

The announcement comes as a slew of automakers and charging equipment makers choose Tesla’s charging design on concerns of losing out on customers if they offer only the Combined Charging System (CCS) design, which is backed by automakers like Volkswagen and Hyundai Motor (005380.KS).

Continue reading “Volkswagen in talks with Tesla to adopt its charging standard”

PTI – The Internet and Mobile Association of India (IAMAI) on Wednesday said the implementation of the Delhi Motor Vehicle Aggregator and Delivery Service Provider Scheme by the city government could adversely impact the livelihoods of countless gig workers across the national capital. The scheme was approved by Chief Minister Arvind Kejriwal last month.

BERLIN, June 29 (Reuters) – Germany is to earmark up to 900 million euros ($983 million) in subsidies to expand electric vehicle charging stations for households and companies, the transport ministry said on Thursday.

Europe’s biggest economy currently has some 90,000 public charging points and aims to have one million by 2030 in hopes of boosting growth in electromobility as it targets carbon neutrality by 2045.

Continue reading “Germany to earmark 900 million euros in subsidies for e-car charging systems”

FRANKFURT, June 29 (Reuters) – Volkswagen’s (VOWG_p.DE) Audi named the German group’s strategy chief as its new CEO on Thursday, as the luxury carmaker seeks to catch up with rivals in the dash towards electrification, including in China, the world’s top car market.

Gernot Doellner, who replaces Markus Duesmann, will become CEO with effect from September, Audi said, after the luxury automaker’s supervisory board passed a resolution on Thursday.

Continue reading “Audi names Volkswagen strategy chief Doellner as new CEO”

June 29 (Reuters) – Swedish electric vehicle (EV) maker Polestar said on Thursday it has signed an agreement with Tesla (TSLA.O) to adopt the EV maker’s Supercharger network in the United States and Canada.

Starting 2025, new Polestar vehicles sold in North America will be equipped with Tesla’s North American Charging Standard (NACS) charging port by default, the company said.

Continue reading “Polestar to adopt Tesla’s supercharger network in the US, Canada”

MILAN, June 29 (Reuters) – Luxury sports automaker Ferrari (RACE.MI) on Thursday unveiled two new plug-in hybrid models, produced in limited series and hitting the top end of the its price range.

Based on 2019’s SF90 Stradale supercar, the Prancing Horse’s first ever series hybrid car, the two new road-homologated models are inspired by Ferrari’s XX programme.

Continue reading “Ferrari launches two hybrid models in limited series based on SF90 supercar”

PARIS, June 29 (Reuters) – French minerals group Imerys (IMTP.PA) on Thursday announced plans to mine lithium in the UK and said the site could supply two-thirds of batteries for Britain’s electric vehicles by 2030.

Imerys aims to produce around 20,0000 tonnes a year of lithium carbonate equivalent by the end of the decade at its mining site in Cornwall, southwest England, in partnership with British Lithium.

Continue reading “Imerys to produce lithium in UK for EV batteries”

June 29 (Reuters) – Lordstown Motors (RIDE.O) said on Thursday it had received a delisting notice from the Nasdaq, days after the U.S. electric truck maker filed for bankruptcy protection.

The company received the notice from Nasdaq on June 28, notifying its failure to meet listing rules and saying that trading in its class A common stock would be suspended on July 7, 2023, according to a filing.

Continue reading “Lordstown Motors gets Nasdaq delisting notice”

TOKYO, June 29 (Reuters) – Japanese automaker Toyota Motor (7203.T) on Thursday reported a 10% jump in global sales for May from a year earlier, benefiting from growth at home and other key markets on a recovery in the supply of chips and other parts.

The company sold 838,478 vehicles globally last month, including its luxury car brand Lexus, compared to 761,466 vehicles in May 2022, when sales took a heavy hit from the stuttering parts supply because of the pandemic.

Continue reading “Toyota’s May global sales jump as parts supply shortage eases”

June 29 (Reuters) – Renault (RENA.PA) raised on Thursday its financial outlook for full-year 2023 following the success of its new launches, in particular of SUV Austral and Dacia Jogger models.

The French car maker, which has been engaged for several years in a deep restructuring and a strategic repositioning to restore its margins, said it is now aiming for an operating margin of 7% to 8% by 2023, up from a previous target of more than 6%.

Continue reading “Renault raises 2023 outlook following success of new launches”