BERLIN, April 28 (Reuters) – The future of three Opel plants in Germany belonging to carmaker Stellantis (STLAM.MI) is secure in the medium term after workers made progress on solving quality problems, CEO Carlos Tavares told the Frankfurter Allgemeine Sonntagszeitung newspaper in comments released on Friday.

However, vast improvement is needed on cost cutting in Germany in general, Tavares said. “Germany is currently the most expensive place in the world to produce cars,” he added.

Continue reading “Stellantis CEO: future of three German Opel plants secure for now”

PTI – The partnership will enable Tesla Power to sell and service batteries at over 36,000 IOCL petrol pumps across India, the US-based firm said in a statement.

PTI – Minister of Heavy Industries Mahendra Nath Pandey said his ministry is trying to align itself with the Prime Minister’s vision of Aatmanirbhar Bharat, and these SOPs (standard operating procedures) will not only help achieve that but will also help in increasing the manufacturing foothold.

PTI – The company has reached 5,000 units at present and next month, it will try to get to 7,000 units, he said, adding after that Bajaj Auto would assess how the demand is coming to plan future production roadmap.

TOKYO, April 27 (Reuters) – Japan’s Toyota Motor Corp (7203.T) set a global annual output record in the business year ended in March, just edging past its target of 9.1 million vehicles as factory disruption from global chip supply woes and pandemic lockdowns eased.

But the world’s biggest automaker by sales warned it continued to see impacts from the long-running global chip shortage, saying it remained hard to predict its effect going forward.

Continue reading “Toyota edges past 9.1 million vehicle output goal, warns chip shortage lingering”

April 27 (Reuters) – Hertz Global Holdings Inc (HTZ.O) on Thursday beat analyst estimates for quarterly results as more people rented cars to commute to office and travel outstation, sending the company’s shares up nearly 4% before the bell.

Demand for rentals remains strong as more companies mandate work from office and people resume their travel plans after a long pandemic-induced hiatus.

Continue reading “Hertz results beat estimates on strong rental car demand”

BEIJING/SHANGHAI, April 27 (Reuters) – Chinese electric vehicle giant BYD Co. (002594.SZ) posted a fivefold jump in its first-quarter profit on Thursday as the company consolidated its leadership in the domestic market.

Net profit for the first three months of the year was 4.13 billion yuan ($596.56 million), up 410.9% from 808.41 million yuan a year earlier, on revenue up 79.8% at 120.17 billion yuan, the company said in a stock market filing.

Continue reading “Chinese EV giant BYD’s first-quarter profit jumps fivefold”

April 27 (Reuters) – Geely’s EV brand Zeekr is the latest to join a growing list of automakers that have turned to the “gigapress” die casting technique pioneered by Tesla to slash the cost of electric cars.

Zeekr’s manufacturing technology chief Jiang Kehong told Reuters the Chinese carmaker had started using massive aluminium die casts to make a large rear underbody section of its Zeekr 009 six-seat, multi-purpose van (MPV).

Continue reading “Geely’s EV brand Zeekr jumps on the ‘gigapress’ bandwagon”

PRAGUE, April 26 (Reuters) – Czech carmaker Skoda Auto, part of German group Volkswagen (VOWG_p.DE), wants to expand its electric vehicle range to six models by 2026, the company said, further boosting its ambitions in the shift to e-mobility.

The company had previously aimed to launch three new electric models but said in a Tuesday evening release it will launch four new e-vehicles and two updated models in the coming years.

Continue reading “VW’s Skoda aims for six electric vehicle models by 2026”

TOKYO, April 26 (Reuters) – Japan’s Honda Motor Co (7267.T) said on Wednesday it had struck a strategic collaboration agreement with Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW) as part of efforts to secure a stable supply of semiconductors.

Japanese automakers have struggled to completely shake off the hit from tight global chip and parts supply during the pandemic, though constraints have eased.

Continue reading “Japan’s Honda Motor in strategic collaboration deal with TSMC”

HANOI, April 26 (Reuters) – Vietnamese electric vehicle maker VinFast said on Wednesday it had received a fresh round of funding pledges worth $2.5 billion for its future development, in a move that may signal a new delay to its planned listing in the United States.

Two people familiar with the matter had previously told Reuters that VinFast’s planned U.S. Initial Public Offering (IPO) may be further delayed, with one saying it could be pushed into next year due to unfavourable market conditions.

Continue reading “Vietnam EV maker VinFast secures $2.5 bln in fresh funding pledges”

April 26 (Reuters) – Tesla Inc (TSLA.O) supervisors at a Florida service center violated U.S. labor law by telling employees not to discuss pay and other working conditions or bring complaints to higher level managers, a U.S. labor board official has ruled.

Managers at the Orlando repair shop illegally silenced workers in 2021 after some of them complained that new hires were being paid more, according to the decision issued Tuesday by National Labor Relations Board (NLRB) Administrative Law Judge Michael Rosas.

Continue reading “Tesla broke U.S. labor law by silencing workers, official rules”

DETROIT – April 25 (Reuters) – General Motors Co (GM.N) on Tuesday lifted its full-year profit and cash flow forecasts, citing stronger-than-expected demand and higher prices, but executives cautioned the price gains over 2022 won’t last as the year goes on.

After better-than-expected first quarter results, the No. 1 U.S. automaker said it expects full-year pre-tax profit in a range between $11 billion and $13 billion, up $500 million from a prior forecast.

Continue reading “GM lifts guidance, but cautions price gains won’t last”

WASHINGTON, April 25 (Reuters) – Chrysler-parent Stellantis NV (STLAM.MI) wants to cut approximately 3,500 hourly U.S. jobs and is offering voluntary exit packages, according to a United Auto Workers union letter made public Tuesday.

The automaker is looking to reduce its hourly workforce offering incentive packages that include $50,000 payments for workers hired before 2007, UAW Local 1264 said in a letter dated Monday posted on its Facebook page.

Continue reading “Chrysler-parent Stellantis looks to trim around 3,500 hourly U.S. jobs -union letter”

WASHINGTON, April 25 (Reuters) – California-based battery manufacturer startup Sparkz Inc said Tuesday it had agreed to a partnership with the United Auto Workers (UAW) union as it finalizes plans to begin commercializing zero-cobalt, zero-nickel battery production.

The UAW has been working to organize new battery facilities as the auto industry shifts to electric vehicle production. Sparkz and the UAW said they had signed a memorandum of understanding establishing a national labor-management agreement and statement of neutrality.

Continue reading “Battery startup Sparkz strikes partnership with auto workers union”

BERLIN, April 25 (Reuters) – Mercedes-Benz (MBGn.DE) on Tuesday launched its last new combustion engine model – the next generation of the E-Class, which will be built in Germany and China and go on sale in Europe in the third quarter of this year.

Follow-up models of the E-Class will be built on a new platform adapted for battery-powered cars, though this generation will already be available as a hybrid.

Continue reading “Mercedes-Benz launches E-Class, its last new combustion engine model”

SHANGHAI, April 24 (Reuters) – Tesla has begun producing in Shanghai a version of the Model Y to be sold in Canada this year, the first time it will ship cars to North America from China, according to a person with direct knowledge of the plan and a production memo seen by Reuters.

The move would connect Tesla’s (TSLA.O) biggest and most cost-efficient factory in the world to North America, its largest market. The Model Y is the electric vehicle (EV) maker’s best-selling model globally.

Continue reading “Exclusive: Tesla readies export of Model Y to Canada from China”

WASHINGTON, April 24 (Reuters) – The Federal Communications Commission (FCC) on Monday approved a request by U.S. state agencies, some automakers, universities and others to use spectrum to deploy connected vehicle technology to prevent crashes, especially at intersections.

The 5.9 GHz spectrum block was reserved in 1999 for automakers to develop technology for vehicles to communicate with each other to avoid crashes but has so far gone largely unused.

Continue reading “U.S. OKs spectrum use for vehicle crash prevention technology”

LONDON, April 24 (Reuters) – Chile’s move to nationalise its lithium industry adds fresh supply chain uncertainty for global carmakers facing a shortage of electric vehicle (EV) battery materials and could provide fresh urgency to find new sources of the metal.

Chilean President Gabriel Boric announced plans last Thursday to create a new state-owned company to control its lithium industry. The country has the world’s largest reserves of the metal and accounts for 30% of global output.

Continue reading “Chile’s lithium move a further push for automakers to diversify supply chain”

PTI – On his new role, Shigeki Iwama said the company’s efforts will be focused on harnessing the “unwavering potential” of the Indian market, while fostering a culture of collaboration, innovation, and excellence.

PTI – The Minister said that Lithium deposits will not only give fillip and boost to the industrial sector in India but will give further push to the country to become ‘Vishwa Guru’ under the leadership of Prime Minister Narendra Modi.

SANTIAGO, April 24 (Reuters) – Chilean President Gabriel Boric’s plan to nationalize his country’s immense lithium industry is putting the spotlight on an emerging crop of filtration technologies aimed at revolutionizing how the metal is produced for the electric vehicle industry.

In a national prime time address, Boric said last Thursday a new state-owned company would work to slash the environmental impacts of lithium production by shifting away from evaporation ponds, traditionally used to remove the metal from brine, in favor of direct lithium extraction (DLE).

Continue reading “Chile’s lithium nationalization shines light on emerging tech”

TOKYO, April 24 (Reuters) – Japanese electric motor maker Nidec Corp (6594.T) on Monday posted its first quarterly operating loss in a decade, hit by hefty restructuring costs and difficulty in procuring semiconductors and other components.

The loss of 24.3 billion yen ($181.01 million) for the January-March quarter compared to an average estimate for a 11.75 billion yen loss in a Refinitiv survey of analysts.

Continue reading “Japan’s Nidec posts first quarterly loss in 10 years”

PTI – Infrastructure Investment Trust (InvIT) is an instrument on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time. Elaborating further, the official told PTI that while INR 15,000 crore is planned to be raised in 2023-24 via project-based financing of high-speed corridors by securitising the future toll revenues without any guidance from the authority, INR 10,000 is planned to be raised via InvIT.

PTI – Cluster buses are monitored and managed by the Delhi Integrated Multi-Modal Transit System Limited (DIMTS). They were introduced in Delhi with the aim of replacing the killer Blue Line buses that were phased out in 2012. The cluster buses that have gone off the roads used to play in south, southwest, west and outer Delhi.

SAN FRANCISCO, April 21 (Reuters) – Tesla’s market share in its key California market tumbled in the first quarter of the year despite aggressive price cuts as rivals stepped up, data showed on Friday.

Tesla Inc (TSLA.O) controlled 59.6% of the battery electric market in California from January to March, down from 72.7% for all of 2022 and the lowest since 2017, according to Reuters calculations based on data from the California Energy Commission.

Continue reading “Tesla’s California market share tumbles despite aggressive price cuts”

LOS ANGELES, April 21 (Reuters) – Jurors in what appears to be the first trial related to a crash involving Tesla’s Autopilot feature told Reuters after the verdict on Friday that the electric-vehicle maker clearly warned that the partially automated driving software was not a self-piloted system, and that driver distraction was to blame.

A California state court jury on Friday handed Tesla Inc (TSLA.O) a sweeping win, finding that the automaker’s Autopilot feature did not fail to perform safely and awarding plaintiff Justine Hsu zero damages.

Continue reading “Exclusive: Tesla’s Autopilot never claimed to be self-pilot, juror says”

BERLIN, April 21 (Reuters) – Canada and Volkswagen (VOWG_p.DE) on Friday together committed more than C$20 billion ($14.8 billion) for a battery gigafactory in St. Thomas, Ontario, the biggest single investment ever in the country’s electric-vehicle supply chain.

Europe’s largest carmaker is investing up to C$7 billion to build the plant, Volkswagen said in a statement.

Continue reading “Canada, Volkswagen to invest more than C$20 billion in EV battery gigafactory”

DETROIT, April 21 (Reuters) – United Auto Workers union President Shawn Fain said on Friday there is “no excuse” for Detroit’s automakers to set up electric vehicle operations and ventures that are not unionized.

Fain also told the Detroit Automotive Press Association that Stellantis NV’s decision to idle an assembly plant in Belvidere, Illinois, is “a flat-out violation” of the union’s contract with the UAW and is unacceptable.

Continue reading “UAW President: ‘No excuse’ for Detroit’s non-union EV operations”

PTI – The passenger EVs will be leased to Blusmart Mobility Pvt Ltd (BMPL) to expand its fleet of ride-hailing cabs. The first tranche of the loan has been disbursed and the first lot of EV cabs has hit the Delhi roads, it added.

PTI – As part of this initiative, Energy Minister Peddireddy Ramachandra Reddy has inaugurated a charging station near Durga temple in the city and launched the Renewable Energy Resources Centre (RERC), established by NREDCAP and AP State Council of Science & Technology (APCOST).