BERLIN, April 21 (Reuters) – Volkswagen (VOWG_p.DE) significantly increased deliveries in the first quarter despite weaker business in China, its most important single market, the German carmaker said on Friday.
The group delivered 2.04 million vehicles to customers worldwide, up 7.5% compared with the same quarter last year, while in China, sales fell 14.5% to 644,500 vehicles.
Continue reading “Volkswagen increases Q1 sales despite weaker China business”
HONG KONG, April 21 (Reuters) – China’s BYD Co Ltd (002594.SZ), , the world’s largest electric vehicle (EV) maker, plans to build a $290 million lithium cathode factory in Chile’s northern Antofagasta region, said Chilean economic development agency CORFO.
The South American country’s government has named BYD Chile a qualified lithium producer, CORFO said, giving it access to preferential prices for lithium carbonate quotas.
Continue reading “China EV maker BYD to build $290 mln battery component plant in Chile”
LOS ANGELES, April 21 (Reuters) – A California state court jury began deliberating on Thursday in what appears to be the first trial related to a crash involving Tesla’s Autopilot partially automated driving software.
The verdict could offer an important sign of the risk facing Tesla Inc (TSLA.O) as it tests and rolls out its Autopilot and more advanced “Full Self-Driving (FSD)” system, which Chief Executive Elon Musk has touted as crucial to his company’s future, but which has drawn regulatory and legal scrutiny.
Continue reading “US jury set to decide test case in Tesla Autopilot crash”
MEXICO CITY, April 20 (Reuters) – MG Motor is launching a plug-in hybrid SUV in Mexico, the carmaker said on Thursday, as the market for hybrid and electric vehicles in the Latin American country heats up despite a lack of infrastructure and high costs for locals.
The hybrid eHS model is set to hit Mexico’s streets on Friday, alongside two combustion-engine models, the company said.
Continue reading “MG Motor launches plug-in hybrid option in Mexico as EV race heats up”
VW India targets 30 percent growth with variants, dealer expansion AUTOCAR
MG Comet EV launch on April 26, 2023 AUTOCAR
Honda shows three electric SUVs in Shanghai AUTOCAR
Audi India Records A 126 Per Cent Increase In Sales For Q1 2023 CARANDBIKE
SHANGHAI, April 20 (Reuters) – Automakers keen to make a splash at the Shanghai auto show showed off vehicles boasting features from crystal balls to in-car karaoke systems and 3D dashboards, as competition to attract drivers heats up in the world’s largest auto market.
At the first such showcase in China since the country’s COVID-19 curbs ended, Zeekr, a premium electric vehicle (EV) brand owned by Zhejiang Geely Holding Group (GEELY.UL), highlighted how its newly released X model SUV has seats that can massage passengers.
Continue reading “At Shanghai show, auto rivals lure drivers with in-car karaoke, crystal balls”
SEOUL, April 20 (Reuters) – The South Korean government and its top battery companies plan to jointly invest 20 trillion won ($15.1 billion) through 2030 to develop advanced battery technologies, including solid-state batteries, the industry ministry said on Thursday.
“The joint investment will allow South Korea to start commercial production of solid state batteries ahead of others,” the ministry said in a statement.
Continue reading “South Korea announces $15 bln investment in advanced battery technologies”
PTI – Alka Upadhyaya, Secretary, MoRTH, said INR 10,000 crore is planned to be raised through Infrastructure Investment Trusts (InvITs) mode in FY 2023-24. She further added that MoRTH has taken up targets to award 12,000 km and construct 12,500 km of highways in the country for 2023-24.
The Ministry of Road Transport and Highways (MoRTH) has put plans in place to maintain the pace of highway development and construct 12,500 km of highways in the current financial year, a senior official said.
Continue reading “MoRTH to construct 12,500 km of highways in FY24: Official”
April 19 (Reuters) – Tesla Inc (TSLA.O) boss Elon Musk on Wednesday doubled down on the price war he started at the end of last year, saying the electric vehicle (EV) maker would prioritize sales growth ahead of profit in a weak economy.
The company posted its lowest quarterly gross margin in two years, missing market estimates, as it slashed prices aggressively in markets including the United States and China to spur demand and fend off rising competition.
Continue reading “Musk says Tesla will put sales growth ahead of profit”
SHANGHAI/BERLIN, April 19 (Reuters) – German automakers have turned up in full force at Shanghai’s Auto Show as they fight to stay on top of consumer trends in the country that will define whether they maintain their market dominance in the electric age both at home and abroad.
Their heavy presence – with the entire board of Volkswagen AG (VOWG_p.DE) and more than 100 VW employees attending, in contrast to Japanese or French automakers – shows they are taking the challenge seriously, said Yale Zhang of Shanghai-based consultancy Automotive Foresight.
Continue reading “Analysis: German automakers fight to defend their turf from Chinese rivals”
PARIS, April 19 (Reuters) – French car lobby Plateforme de la filière automobile (PFA) on Wednesday proposed that a state bonus for consumers buying electric cars be reserved for vehicles “made in Europe”.
The proposal comes as Europe looks at ways to counter Chinese protectionism and U.S. subsidies offered by the U.S. Inflation Reduction Act.
Continue reading “French car lobby makes plea for bonus for ‘made in Europe’ electric cars”
SHANGHAI, April 19 (Reuters) – Elon Musk has said the only thing holding back electric vehicle (EV) sales is their price.
Companies like BYD (002594.SZ) are solving that problem in China – and getting ready to solve it for the world.
China’s largest EV maker unveiled this week the Seagull at the Shanghai auto show, shocking analysts and rivals with the car’s specs: a battery range of more than 300 kilometers (186 miles) and a starting price of just over $11,000 – about a quarter of the price of most EVs now on the market in Europe.
Continue reading “As EV costs tumble in China, an export wave builds”
April 18 (Reuters) – Tesla Inc (TSLA.O) has cut prices for some of its Model Y and Model 3 vehicles in the U.S., the sixth time the company has made such a move this year as it looks to spur demand even at the cost of its industry-leading profit margins.
The cuts came ahead of the electric-vehicle maker’s first-quarter earnings due on Wednesday and sent the stock down nearly 3% in early trading. Shares have risen just a little under 50% this year, after posting their biggest annual drop in 2022.
Continue reading “Tesla cuts US prices for sixth time this year ahead of Q1 results”
April 19 (Reuters) – Passenger car registrations in the European Union rose 28.8% in March to more than one million units, the European Automobile Manufacturers Association (ACEA) reported on Wednesday.
Battery-electric cars made up 13.9% of new registrations in the EU, up 2.5% from the same month last year.
Continue reading “EU passenger car sales up 28.8% to over 1 million units in March, ACEA says”
SAN ANTONIO, Texas, April 19 (Reuters) – At Toyota Motor Corp’s (7203.T) sprawling factory here, just 16 miles (26 km) from the Alamo, a new gasoline-fueled Tundra pickup truck or hybrid Sequoia SUV rolls off the assembly line every 60 seconds.
“We can’t produce enough of the Sequoias and Tundras today,” said plant manager Kevin Voelkel. “There is a waiting list.”
Continue reading “Biden’s push for electric vehicles hits deep in the heart of Texas”
April 19 (Reuters) – Jaguar Land Rover (JLR) said on Wednesday it planned to increase its investments in electric vehicles (EVs) as it chases global rivals, with the British luxury carmaker promising its first new electric Jaguar in 2025.
JLR, which is owned by India’s Tata Motors (TAMO.NS), said it would invest 15 billion pounds ($19 billion) over the next five years on EVs.
Continue reading “Jaguar Land Rover ups electric investments to catch up in EV race”
SHANGHAI, April 19 (Reuters) – At the Shanghai auto show this week, the largest crowds can be found around an unassuming, bright yellow hatchback parked at the booth of China’s largest electric carmaker BYD (002594.SZ).
Dubbed the “Seagull”, BYD’s latest electric vehicle (EV) made its debut at the event this week, stunning visitors not so much for its look or its features, but the fact it will sell from just 78,000 yuan ($11,300) – around half the price of the cheapest new energy vehicles available elsewhere.
Continue reading “Shanghai auto show crowds flock to BYD’s Seagull”
PTI – The conferences on materials for sustainable energy and circular bioeconomy have already concluded at Ranchi, Jharkhand and Dibrugarh, the statement said.
The two-day G20 Research and Innovation Initiative Gathering (RIIG) conference on building a sustainable and eco-innovative energy transition system commenced at this Himachal Pradesh city on Wednesday. According to a statement, representatives of G20 countries, 27 foreign delegates and 35 experts from India along with delegates and invitees will participate in the meeting.
Continue reading “G20 conference on energy transition begins in HP”
PTI – The green hydrogen fuelling station involves the establishment of a specialised and dedicated facility that will use the green energy generated on-site by a renewable hybrid to generate, compress, store, and dispense green hydrogen, utilising a hydrogen purification system, it stated.
Jakson Green on Tuesday said it is developing a green hydrogen fuelling station at Badarpur in the capital city for a major power company in India. The project is expected to offset 3.7 tonnes of CO2 per day once operational, a company statement said.
Continue reading “Jakson Green developing green hydrogen refuelling station in New Delhi”
PTI – Electric vehicle industry body SMEV on Tuesday appealed to a parliamentary panel to direct the government to release the pending subsidy of Rs 1,200 crore earmarked for the liquidity- hit sector. In a petition to the Parliamentary Standing Committees on Industry and Estimates, the Society of Manufacturers of Electric Vehicles (SMEV) stated that EV adoption is slowing down due to the financial stress being faced by the industry.
Electric vehicle industry body SMEV on Tuesday appealed to a parliamentary panel to direct the government to release the pending subsidy of Rs 1,200 crore earmarked for the liquidity-hit sector. In a petition to the Parliamentary Standing Committees on Industry and Estimates, the Society of Manufacturers of Electric Vehicles (SMEV) stated that EV adoption is slowing down due to the financial stress being faced by the industry.
PTI – Volkswagen Passenger Cars India Brand Director Ashish Gupta said the company is following a two-pronged strategy of premiumization and electrification to strengthen presence and enhance its position in India.
German carmaker Volkswagen plans to bring its first electric vehicle in India next year with the launch of premium electric SUV ID.4 to tap the opportunity in the fast growing electric mobility space in the country, a senior company official said on Tuesday. By 2030, Volkswagen expects 25-30 per cent of its total sales in India to come from EVs and the rest from internal combustion engine vehicles.
Continue reading “Volkswagen to bring its first EV in India next year”
PTI – Mahindra & Mahindra sold 3,23,691 passenger vehicles last fiscal to log in a market share of 8.94 per cent. It had retailed 1,99,125 units in FY22 to record a market share of 6.77 per cent, FADA said.
Passenger vehicle leaders Maruti Suzuki India and Hyundai Motor saw their market share dip in FY23 as compared with FY22 as they struggled with shortage of electronic components, according to automobile dealers’ body FADA. Tata Motors, Mahindra & Mahindra and Kia India on the other hand witnessed an increase in their market share based on the retail sales last fiscal.
Continue reading “Maruti, Hyundai see drop in retail sale market share last fiscal: FADA”
SHANGHAI, April 18 (Reuters) – Global automakers, including Toyota and Volkswagen, took the stage at the Shanghai auto show on Tuesday with built-for-China and electric-drive products to compete for a high-stakes comeback in the world’s largest market.
But after a year when trends have shifted sharply against the established foreign brands that once dominated in China, executives from Chinese automakers offered a reality check: the game is moving faster and the pressure to cut prices is getting more intense.
Continue reading “Once-dominant foreign auto brands pledge comeback in China”
April 18 (Reuters) – Japan’s Nissan Motor (7201.T) on Tuesday unveiled a new electric sport-utility vehicle (SUV) at the Shanghai auto show as it pledged its commitment to the Chinese auto market, which it said was likely to continue to pioneer the rise of electric cars.
China has long been a key market for Nissan, but like other global automakers, it faces increasing pressure and the threat of declining market share from the rise of home-grown auto companies.
Continue reading “Nissan unveils new EV for China as it aims to up game in no. 1 auto market”
SHANGHAI, April 17 (Reuters) – China’s auto market, the world’s largest, is accelerating toward an electric future – leaving established global brands stuck in the slow lane.
When auto executives convene in Shanghai for the auto show starting Tuesday, they will return to a sharply different market from the one they left in 2021 when the industry gathered for a limited event under strict COVID-19 controls.
Continue reading “China’s electric car drive, led by BYD, leaves global brands behind”
SHANGHAI, April 18 (Reuters) – Chinese electric vehicle (EV) maker Li Auto Inc (2015.HK) said on Tuesday it plans to expand its line-up to 11 models by 2025, up from four currently, targeting the market for vehicles priced at 200,000 yuan ($29,100) and higher.
Speaking on the sidelines of the Shanghai auto show, Li Auto’s president and chief engineer Ma Donghui said the line-up by 2025 will include one flagship model, five range-extended electric models and five high-voltage pure electric models.
Continue reading “China’s Li Auto aims to nearly triple electric model line-up to 11 by 2025”
FRANKFURT, April 18 (Reuters) – The number of electric vehicle charging points in Germany rose by 35% last year, exceeding the rate of increase needed to keep up with the rollout of battery EVs in the country, the BDEW energy industry association said on Tuesday.
The German government last October approved a plan to spend 6.3 billion euros ($6.9 billion) over three years to rapidly scale up the number of charging stations as part of its push towards net zero emissions from transport.
Continue reading “Germany added 35% more EV charge points in 2022, says BDEW”
PTI – At present, 10 per cent ethanol is blended in petrol (10 per cent ethanol, 90 per cent petrol) and the government is looking to double this quantity by 2025. “I am sure we will be able to supply 20 per cent ethanol blended petrol by next (fiscal) year,” Hardeep Singh Puri said. India saved as much as INR 41,500 crore in forex outgo from 10 percent blending besides benefiting the farmers, he said at a biofuels conference here.
Oil minister Hardeep Singh Puri on Monday exuded confidence of meeting the target of supplying petrol mixed with 20 per cent ethanol by 2025, five years earlier than the previously planned roll- out in 2030. Petrol blended with 20 per cent ethanol was rolled out at select petrol pumps in 11 states and Union Territories in February as part of a programme to increase use of biofuels to cut emissions as well as dependence on foreign exchange-draining imports.
Continue reading “Hardeep Singh Puri confident of meeting 20% ethanol blending target next fiscal”
PTI – Passenger vehicle exports from India rose 15 per cent in FY23 with Maruti Suzuki India leading the segment with dispatches of over 2.5 lakh units, as per the latest data by industry body SIAM.
Passenger vehicle exports from India rose 15 per cent in FY23 with Maruti Suzuki India leading the segment with dispatches of over 2.5 lakh units, as per the latest data by industry body SIAM. The total passenger vehicle (PV) exports stood at 6,62,891 units in the 2022-23 fiscal as compared to 5,77,875 units in 2021-22.
LOS ANGELES, April 17 (Reuters) – California’s bustling seaports, dominated by massive container vessels and soaring cranes, may seem an unlikely setting for investors seeking to capitalize on the “green” revolution.
But thanks to the state’s plan to phase out by 2035 heavy-duty diesel trucks that haul containers to ships and warehouses, the ports have become ground zero for forward-looking investors who are lining up to build charging stations for the electric semis that will eventually serve those trade gateways.
Continue reading “California’s port truck-charging plan gets a jolt from big investors”
April 17 (Reuters) – Porsche AG (P911_p.DE) posted a record year-on-year sales increase of 18% in the first quarter, boosted by China sales, the company said on Monday.
The German luxury carmaker delivered 21,365 cars in China, its largest single market, representing 21% growth over the previous year. The result there, which is the biggest among regions, was driven by the post-pandemic surge in demand.
Continue reading “Porsche posts record Q1 sales rise boosted by China”
JAKARTA, April 17 (Reuters) – Volkswagen will build an electric vehicle (EV) battery ecosystem in Indonesia and will partner with miner Vale, Ford and China’s battery minerals producer Zhejiang Huayou Cobalt, the Southeast Asian country’s investment minister said.
Automakers are courting Indonesia for its raw materials used in producing EV batteries, which account for about 40% of a vehicle’s sticker price, aiming to cut costs and close the gap on EV market leader Tesla.
Continue reading “Volkswagen to partner on Indonesia EV battery ecosystem -minister”
PTI – Uber India and South Asia President Prabhjeet Singh said it has recorded nearly 100 per cent year-on-year growth in Airport trips in January and February this year and one in every 10 trips on the Uber platform is an airport trip.
Ride-hailing app Uber has signed a pact with AAI to build its cab service zone across their airports as it sees the aviation sector as one of the key growth drivers of its business, a senior company official said. Uber India and South Asia President Prabhjeet Singh told PTI that it has recorded nearly 100 per cent year-on-year growth in Airport trips in January and February this year and one in every 10 trips on the Uber platform is an airport trip.
Continue reading “Uber signs pact to build Uber Zones across all AAI airports”
PTI – Michelin is reportedly considering the local production of passenger vehicle tyres in India. This move could help the French firm improve operations in the country, which have suffered due to import restrictions introduced in 2020. Presently, Michelin only sells premium, limited- quantity, larger-sized tyres for performance-based models. Florent Menegaux, Michelin CEO, said the company saw India as a great developing market with fast-developing infrastructure.
French tyre major Michelin is actively considering production of passenger vehicle tyres locally in India, according to the group Chief Executive Officer Florent Menegaux. The local manufacturing would help the Clermont-Ferrand based tyre major to scale up operations in India, which remain critically subdued with the government introducing import restrictions in 2020.
Continue reading “Michelin may soon produce passenger vehicle tyres in India”
PTI – Explaining the idea behind the study, Amit Bhatt, ICCT managing director (India), told PTI, “We are trying to see if we can electrify the government trucks like garbage disposal trucks, water tankers, horticulture trucks. In order to do that, we will see their energy consumption so that in future, when they are electrified, we will know what kind of battery they will need and the charging infrastructure that will be needed.”
New Delhi: The transport department will soon start a study to examine the feasibility of converting government trucks into electric vehicles to reduce pollution levels in Delhi, officials said on Friday. The study, to be conducted by the International Council on Clean Transportation (ICCT), will commence next week and the recommendations will be submitted in a couple of months.
Continue reading “Delhi govt to study feasibility of converting its trucks into EVs”
PTI – The pilot scheme, which is the precursor to EVOLVE scheme by SIDBI-World Bank, has two components direct lending and indirect lending.
Small Industries Development Bank of India has announced the launch of a pilot scheme for better financing terms in electric vehicle space and strengthening the whole ecosystem. The pilot phase of ‘Mission 50K- EV4ECO’ aims at strengthening the EV ecosystem, including uptake for two, three and four-wheelers through direct and indirect lending, Small Industries Development Bank of India (SIDBI) said in a statement.
Continue reading “SIDBI launches new financing solution for electric vehicle space”
PTI – While the pace of the construction of national highways (NH) in the country touched a record high of 37 kilometre a day in 2020-21, it slowed to 30.11 kilometre a day in 2022-23.
The construction of national highways in 2022-23 was 10,993 kilometres, falling 13.70 per cent short of the government’s target of 12,500 km, according to the Ministry of Road Transport and Highways (MoRTH) latest data. The ministry awarded highways of 12,375 km length in the last financial year.
Continue reading “Construction of national highways at 10,993 kms in 2022-23: MoRTH”
