June 28 (Reuters) – Carmaker Stellantis will require union employees to work mandatory overtime at its Warren Truck assembly and Jefferson North factory in Michigan, to boost Jeep SUV production ahead of a potential strike deadline in September, according to a document shared with Reuters.

Stellantis told workers at both facilites the plants will be in “critical status” from July 5 through October 2. Under the current United Auto Workers (UAW) contract, a plant in critical status can run up to 7 days a week for a period of 90 days and require union employees to work more than 9 hours of overtime, according to a notice sent to employees and reviewed by Reuters.

Continue reading “Stellantis puts Michigan plants in ‘critical status’ ahead of union talks”

June 28 (Reuters) – Nissan (7201.T) installed a camera surveillance system at the home of former executive Ashwani Gupta so the automaker’s internal security team could monitor him, according to the preliminary findings of an investigation into the surveillance, two people with knowledge of the report said.

Nissan has been investigating a claim that Chief Executive Makoto Uchida carried out surveillance of the carmaker’s second- in-command to acquire leverage to remove him from the company because of Gupta’s opposition to some terms in a new partnership deal with Renault (RENA.PA).

Continue reading “Exclusive: Nissan installed camera to monitor No. 2’s home, sources say”

WASHINGTON/DETROIT, June 28 (Reuters) – President Joe Biden’s administration on Wednesday said it intends to invest $2 billion from last year’s Inflation Reduction Act to accelerate domestic manufacturing of electric vehicles and resuscitate plants that are struggling.

Speeding grants and other subsidies to fund conversion of existing auto plants to build electric vehicles could help the White House blunt criticism from auto makers and the United Auto Workers (UAW) union over proposed environmental rules aimed to help usher in the EV era.

Continue reading “Biden administration aims $2 billion in grants at US electric vehicle transition”

June 28 (Reuters) – The trade group representing nearly all major automakers wants the U.S. Environmental Protection Agency to soften its proposal to sharply cut vehicle emissions through 2032 saying it is “neither reasonable nor achievable.”

The EPA said in April the proposed 2027-2032 standards would cut emissions by 56% compared to the existing 2026 requirements, or 13% annual average pollution cuts.

Continue reading “Auto industry seeks to soften Biden vehicle emissions proposal”

PARIS, June 28 (Reuters) – Stellantis (STLAM.MI) has informed unions and local officials of its plans to end operations at its manual gearbox production site in Vienna-Aspern in Austria, a company spokesperson said on Wednesday.

The Italian-French carmaker will now engage in discussions on how to support the 300 employees at the mechanical gearbox plant, the spokesperson added.

Continue reading “Stellantis to end gearbox production at Vienna plant, 300 jobs impacted”

June 28 (Reuters) – Exxon Mobil (XOM.N) has agreed to develop more than 6,100 lithium-rich acres in Arkansas with Tetra Technologies Inc (TTI.N), the second move this year by the oil giant for control of assets needed to produce the electric vehicle battery metal.

Exxon’s rapid expansion into the lithium sector comes amid growing interest by traditional energy companies and others into emerging technologies that aim to boost global supply of the ultralight metal.

Continue reading “Exclusive: Exxon Mobil expands lithium bet with Tetra Technologies deal”

June 28 (Reuters) – Shares in Volkswagen (VOWG_p.DE) inched higher on Wednesday, recovering slightly from a selloff the day before when the automaker played down reports it will cut EV output in Germany over the next two weeks because of lower than expected demand.

Volkswagen “expects the trend in BEV (battery electric vehicle) orders, which already improved in May, to gradually stabilise in the coming months,” spokesperson Christopher Hauss told Reuters.

Continue reading “Volkswagen shares recover after EV production cut reports”

PTI – Ashok Leyland expects the domestic commercial vehicle industry to grow by 8-10 per cent this fiscal aided by record government spending on infrastructure projects and strong replacement demand emanating from core industries. In his address to shareholders in the company’s Annual Report for 2022-23, Ashok Leyland Chairman Dheeraj G Hinduja said the commercial vehicle sales this fiscal were expected to exceed the previous peak attained in 2018-19.

Continue reading “Expect commercial vehicle industry to grow by 8-10 per cent this fiscal: Ashok Leyland”

LONDON, June 28 (Reuters) – Zeekr, Geely Automobile’s (0175.HK) electric brand, said on Wednesday that two of its all-electric luxury cars are available for pre-order in the Netherlands and Sweden, joining a growing number of Chinese EV makers launching vehicles in Europe.

Deliveries for the Zeekr 001 estate and the Zeekr X SUV are set to begin in the autumn, the company said. Pricing for the Zeekr 01 starts at 59,490 euros ($65,076) including taxes, while the Zeekr X starts 44,990 euros.

Continue reading “China’s EV maker Zeekr opens orders for two luxury cars in Sweden, Netherlands”

TOKYO, June 28 (Reuters) – Nissan Motor Co (7201.T) has decided to not fill in the chief operating officer position vacated by Ashwani Gupta under a new management structure, the Japanese automaker said on Wednesday.

Responsibilities previously carried out by the operations chief will be taken over by other executives, it said.

Continue reading “Nissan will not fill COO position left open by Gupta’s departure”

SHANGHAI, June 28 (Reuters) – Tesla (TSLA.O) is set to hit another record quarter with its China sales while it faces mounting pressure from local competitors such as BYD eating into its share in the world’s largest auto market, analysts say.

The U.S. automaker could sell 155,000 cars in China during April to June, an increase of 13% from its record first quarter, according to estimations by Shi Ji, an analyst with China Merchants Bank International Securities.

Continue reading “Tesla to hit record quarterly sales in China even as market share shrinks, analysts say”

SINGAPORE/HANOI, June 28 (Reuters) – Vietnamese conglomerate Truong Hai Group, founded by tycoon Tran Ba Duong, is considering bringing in an investor into its automobiles arm Thaco Auto in a deal that could value the unit at around $5 billion, two people familiar with the matter said.

Truong Hai Group is in talks with a financial advisor to explore the potential sale of a minority stake in Thaco Auto after receiving interests from regional financial investors and corporates, the sources said.

Continue reading “Exclusive: Vietnam’s Truong Hai considers stake sale in $5 billion automotive arm”

PTI – Tata Motors expects electric vehicles to account for half of its passenger vehicle sales by 2030, according to the company’s Annual Report for 2022-23. The company, which has set a target to attain net zero emission by 2040, said it is “spearheading this mission with the support of our Gen 3 EV architecture strategy.”

June 28 (Reuters) – Small pickups fell short of the standards expected in protecting the passengers on the rear seat of the vehicle, tests conducted by Insurance Institute for Highway Safety (IIHS) showed.

In the crash test conducted, the passenger dummy on the rear seat came dangerously close to the front seat back, recording a risk of neck or chest injuries.

Continue reading “Small pickups fall short in rear seat safety, study shows”

June 28 (Reuters) – The Indian government is preparing a new multibillion-dollar subsidy scheme for companies making electricity grid batteries as part of its transition to clean energy, the Financial Times reported on Wednesday, citing a power ministry proposal.

The draft proposal for a production-linked incentive subsidy scheme would offer 216 billion rupees ($2.63 billion) from this year through to 2030 for companies to set up manufacturing capacity for battery cells in India, the FT reported.

Continue reading “India gears up for multibillion-dollar battery subsidies, Financial Times reports”

MILAN, June 27 (Reuters) – Stellantis (STLAM.MI) launched a ‘Charging & Energy’ business unit on Tuesday to make it easier to keep electric vehicles on the road and cash in on an expanding range of services around greener mobility.

Continue reading “Stellantis aims to relieve ‘charging anxiety’ with new service for EV users”

June 27 (Reuters) – British luxury carmaker Aston Martin (AML.L) unnerved investors on Tuesday by leaving out a sales volume target as it stuck to its medium-term financial goals.

Shares in the London-listed firm fell 4.3% to 346 pence by 0750 GMT.

Continue reading “Aston Martin’s shares skid after it drops sales volume target”

NEW YORK, June 27 (Reuters) – Lordstown Motors (RIDE.O) filed for bankruptcy protection on Tuesday and put itself up for sale after the U.S. electric truck manufacturer failed to resolve a dispute over a promised investment from Taiwan company Foxconn.

Lordstown, named after the Ohio town where it is based, filed for Chapter 11 protection in Delaware and simultaneously took legal action against Foxconn.

In an complaint filed in bankruptcy court, Lordstown accused the electronics company of fraudulent conduct and a series of broken promises in failing to abide by an agreement to invest up to $170 million in the electric-vehicle manufacturer.

Continue reading “Lordstown Motors files bankruptcy, sues Foxconn”

TOKYO, June 27 (Reuters) – Nissan Motor (7201.T) shareholders on Tuesday backed Chief Executive Makoto Uchida and other board nominees at its first annual general meeting since reaching a new deal with alliance partner Renault (RENA.PA).

The shareholder meeting has taken place amid new ructions for the automaker’s management. Nissan is investigating claims that Uchida carried out surveillance of deputy Ashwani Gupta, sources have said. Gupta has left the company as of Tuesday.

Continue reading “Nissan shareholders back board at first AGM since striking alliance deal”

June 26 (Reuters) – British luxury carmaker Aston Martin (AML.L) has reached a deal that will give U.S. electric vehicle (EV) maker Lucid Group (LCID.O) a 3.7% stake in the company in return for access to its “high performance” technology, Aston Martin said on Monday.

Subject to shareholder approval, Aston Martin will issue about 28.4 million new ordinary shares to Lucid Group. It will also make phased cash payments to Lucid totalling about $232 million.

Continue reading “Aston Martin turns to US EV company Lucid for high-tech help”

MELBOURNE, June 26 (Reuters) – Element 25 Ltd (E25.AX) said on Monday it will supply manganese sulphate to General Motors (GM.N) as the automaker looks to secure supply of battery minerals for its North American electric vehicles, sending the miner’s shares up more than 20%.

Continue reading “Australia’s Element 25 to supply GM with manganese sulphate, shares jump”

PTI – Union minister Nitin Gadkari on Sunday said new vehicles that run entirely on ethanol will be introduced. Speaking at an event in Nagpur, the Minister of Road Transport and Highways recalled he recently met the chairman of Mercedes Benz company that launched an electric vehicle.

WASHINGTON, June 24 (Reuters) – U.S. auto safety regulators said on Saturday they are investigating Ford Motor’s (F.N) prior recalls of 710,000 Explorer SUVs over power loss reports to determine if the fix is adequate.

The National Highway Traffic Safety Administration (NHTSA) noted the No. 2 U.S. automaker issued recalls in April 2022 and March on Ford Explorer SUVs from the 2020-2022 model years to address a rear axle horizontal mounting bolt that may fracture and cause the driveshaft to disconnect.

Continue reading “US opens probe into Ford Explorer recalls over power loss reports”

June 23 (Reuters) – A federal judge has ruled in favor of Volkswagen (VOWG_p.DE) in lawsuits brought against the automaker by two U.S. counties over its diesel emissions cheating scandal.

U.S. District Judge Charles Breyer in San Francisco ruled Thursday that Utah’s Salt Lake County and Florida’s Hillsborough County could not prove that Volkswagen violated their regulations against tampering with vehicles’ emission control systems. The counties can still appeal to the San Francisco-based 9th U.S. Circuit Court of Appeals.

Continue reading “Volkswagen prevails against US counties’ diesel emissions claims”

WASHINGTON, June 23 (Reuters) – United Auto Workers (UAW) union President Shawn Fain on Friday harshly criticized the U.S. Energy Department plan to lend $9.2 billion to a joint venture of Ford Motor (F.N) and South Korea’s SK On to build three U.S. battery plants.

Fain called the loan a massive “giveaway” with “no consideration for wages, working conditions, union rights or retirement security” that would help create low-paying jobs adding, “Why is Joe Biden’s administration facilitating this corporate greed with taxpayer money?”

Continue reading “UAW rips Biden administration on US loan to Ford joint venture battery plant”

June 23 (Reuters) – Palladium could extend this year’s near 30% price decline as the rapid rise of electric vehicles threatens to hammer demand for the autocatalyst metal at a time broader economic weakness and chart factors are also weighing.

Spot palladium hit a four-year low of $1,269.09 an ounce on Thursday, having fallen more than 60% from a record high of $3,440.76 scaled in 2022 as the war in Ukraine unfolded.

Continue reading “Palladium in retreat on EV prospects, growth risks”

WASHINGTON June 23 (Reuters) – Honda Motor (7267.T) is recalling 1.3 million vehicles worldwide due to a potential issue with the rearview camera image, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Friday.

The recall covers some 2018-2023 Odyssey, 2019-2022 Pilot, and 2019-2023 Passport vehicles. Due to a faulty communication coaxial cable connector, the rearview camera image may not appear on the display.

Continue reading “Honda recalling 1.3 million vehicles worldwide for rear camera issue”

TOKYO, June 24 (Reuters) – Nissan (7201.T) has launched an investigation into claims by a senior adviser that Chief Executive Makoto Uchida carried out surveillance of his deputy Ashwani Gupta, four people with direct knowledge of the matter said.

The surveillance claims, first reported by the Financial Times, were made by Hari Nada, 58, a senior adviser at Nissan, in a letter dated April 19 to the independent directors on the Japanese automaker’s board.

Continue reading “Exclusive: Nissan investigates claims CEO put deputy under surveillance”

June 23 (Reuters) – Washington state plans to require electric vehicle charging companies to include Tesla’s plug if they want to be part of a state program to electrify highways using federal dollars, an official told Reuters on Thursday.

Washington follows the move by Texas to mandate Tesla’s technology, The North American Charging Standard (NACS), adding momentum to CEO Elon Musk’s hope of making it the national charging technology.

Continue reading “Exclusive: Washington state plans to mandate Tesla’s charging plug”

PTI – US-based private equity major TPG Capital on Friday sold its entire 11.25 %stake in automobile dealership chain Landmark Cars for INR 293 crore through an open market transaction. With this transaction, TPG has exited the automobile dealership company.