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”

SHANGHAI, April 16 (Reuters) – China’s electric vehicle (EV) maker Xpeng (9868.HK) unveiled on Sunday a new platform it developed in-house for making vehicles, which it said will reduce the development and manufacturing costs for its company’s upcoming models.

The Smart Electric Platform Architecture (SEPA) 2.0 will help Xpeng to reduce costs of powertrain systems including batteries by 25% and those of intelligent driving system by 50% by the end of 2024, Brian Gu, Xpeng’s president, told reporters in Shanghai on Sunday.

Continue reading “China’s Xpeng aims to cut costs with new vehicle manufacturing platform”

WASHINGTON, April 14 (Reuters) – European Commission Executive Vice President Valdis Dombrovskis said on Friday that the bloc wants to move quickly on a trade agreement with the United States for electric vehicle battery minerals and was optimistic on reaching a green steel and aluminum pact with Washington by October.

Dombrovskis, the EU’s top trade official, told reporters that he could not provide any details on timing for reaching a U.S.-EU deal after Washington and Tokyo’s quick agreement in late March.

Continue reading “EU’s Dombrovskis sees some progress on steel, battery minerals talks with U.S.”

April 14 (Reuters) – Two U.S. senators have written to Elon Musk, Tesla Inc’s chief executive, questioning him about the sharing by employees of sensitive images recorded by cameras in customers’ vehicles.

“This apparent willful disregard for the privacy of Tesla customers is unacceptable and raises serious questions about Tesla’s management practices,” states the letter, which is signed by Senators Edward J. Markey and Richard Blumenthal and was seen by Reuters. “We urge you to take all necessary actions to ensure that any images or videos consensually collected from Tesla vehicles are subject to strict privacy safeguards.”

Continue reading “Exclusive: Two U.S. Senators write to Tesla CEO Elon Musk after Reuters probe”

April 14 (Reuters) – Nissan is developing growth plans in areas such as software and electric vehicles (EVs) independent of Renault SA (RENA.PA) as the automakers work to finalise terms of a sharply limited alliance, said seven people with knowledge of the matter.

Japan’s third-biggest automaker by sales is seeking a partner outside the auto industry to develop software that connects vehicles to cloud-based services, two people involved in discussions said, without elaborating on candidates. That would address a relative weakness for Nissan as it tries to make cars “smarter and more connected”, one of the people said.

Continue reading “Exclusive: Nissan takes its own road, minus Renault, in seeking tech tie-up”

SINGAPORE, April 14 (Reuters) – Tesla Inc (TSLA.O) on Friday slashed prices for its electric vehicles in Europe, Israel and Singapore, expanding a global discount drive it began in China in January while raising concerns about its industry-leading profit margin.

Tesla last week reported first-quarter deliveries up just 4% from the previous quarter despite offering discounts in the United States, China, Japan, Australia and South Korea aimed at spurring demand.

Continue reading “Tesla expands discounts with price cuts in Europe, Singapore, Israel”

SHANGHAI, April 14 (Reuters) – China’s Zeekr has hired a former Lexus executive to helm its operations in Europe, according to a memo seen by Reuters, as the electric vehicle (EV) maker plans to sell into the region later this year.

Spiros Fotinos, who spent 24 years with Toyota (7203.T) and led the brand management of Lexus globally, joined Zeekr in September as the chief executive officer of Zeekr Europe to oversee the brand’s operation in the region, the memo showed.

Continue reading “China’s Zeekr hires ex-Lexus brand veteran to helm Europe operations”

MILAN, April 14 (Reuters) – Italy’s antitrust authority said on Friday it had opened an investigation into Enel (ENEI.MI), the country’s biggest utility, over possible abuse of its dominant position in electric vehicle charging points.

The probe involves Enel’s units Enel X Way, Enel X Way Italia and Ewiva, it said.

Continue reading “Italy investigating Enel over dominant position in EV charging”

MILAN, April 13 (Reuters) – Stellantis (STLAM.MI) has managed to preserve a strong pricing power in North America, its CEO Carlos Tavares told shareholders on Thursday, in contrast with signs of pricing power declining for global automakers, with possible impacts on margins.

Electric car maker Tesla (TSLA.O) earlier this month cut its prices in the United States, the fifth such cut in its largest market since the start of the year.

Continue reading “Stellantis retains strong pricing power in North America, CEO says”

HONG KONG, April 13 (Reuters) – Chinese ride-hailing giant Didi Global said on Thursday that it is working with Chinese carmakers to develop its own robotaxis, which it aims to put into service by 2025, revealing a concept one with robotic arms it called “Didi Neuron”.

The company said that it is collaborating with multiple new energy carmakers in China on developing robotaxis. Continue reading “China’s Didi Global to roll out self-developed robotaxis by 2025”

PTI – Uber India had contended the notifications were violative of Article 14 (equality before law) of the Constitution of India as they failed to satisfy the test of reasonable classification. It was stated that no differentiation in tax treatment can be created between passenger transport services rendered by auto drivers facilitated through e-commerce platforms versus passenger transport services rendered by auto drivers offline.

LONDON, April 13 (Reuters) – Legacy automakers got off to a late start with their commercial electric vans, opening the door for other electric commercial vehicle (ECV) makers to gain a foothold, as the Maxus brand from China’s SAIC Motor Corp (600104.SS) has done in Europe.

Fleet customers complain they simply cannot obtain enough electric vans from the likes of Ford Motor Co (F.N), Stellantis NV (STLAM.MI) brand Peugeot, Renault (RENA.PA) or Mercedes (MBGn.DE), and so they are casting about for alternatives.

Continue reading “Lack of electric vans opens door for Chinese, other EV makers”

WASHINGTON, April 12 (Reuters) – The U.S. Environmental Protection Agency (EPA) on Wednesday proposed sweeping emissions cuts for new cars and trucks through 2032, a move it says could mean two out of every three new vehicles automakers sell will be electric within a decade.

The proposal, if finalized, represents the most aggressive U.S. vehicle emissions reduction plan to date, requiring 13% annual average pollution cuts and a 56% reduction in projected fleet average emissions over 2026 requirements. The EPA is also proposing new stricter emissions standards for medium-duty and heavy-duty trucks through 2032.

Continue reading “Biden looks to boost EV sales with plan to cut vehicle emissions”

PARIS, April 13 (Reuters) – Renault (RENA.PA) said on Thursday it had entered a long-term commercial partnership with French start-up Verkor to produce batteries for the carmaker’s premium and Alpine electric models.

The targeted capacity of 12 gigawatt hours (GWh), enough to power more than 100,000 vehicles, would make Renault the biggest client of Verkor’s planned “gigafactory” in Dunkirk, which is aiming for a total capacity for batteries equivalent to 16 GWh.

Continue reading “Renault plugs into premium EV battery deal with start-up Verkor”

April 12 (Reuters) – Motorcycle maker Harley-Davidson Inc (HOG.N) said on Wednesday Chief Financial Officer Gina Goetter was leaving the company at the end of April, and toymaker Hasbro Inc (HAS.O) said she would take over as its finance chief.

Harley issued a statement saying that Vice President, Treasurer David Viney will serve as interim CFO after Goetter’s departure on April 28.

Continue reading “Harley-Davidson CFO to step down, joins toymaker Hasbro”

CHENGDU, China, April 12 (Reuters) – Chinese electric vehicle maker Zeekr on Wednesday launched a compact, all-electric sport utility vehicle, as it targeted a premium market in China that has been dominated by German automakers.

The Geely-owned [RIC:RIC:GEELY.UL] brand said it also planned to offer the SUV-styled Zeekr X and its Zeekr 001 EV sedan in Western Europe without saying when that would be.

Continue reading “China’s Zeekr launches electric SUV, targets Europe”

April 12 (Reuters) – New vehicles’ average transaction price fell below the manufacturer’s suggested retail price (MSRP) for the first time in 20 months, according to data published by automotive research company Kelley Blue Book.

Vehicle prices turned hot after a pandemic-driven supply chain snag and an increased demand for private cars.

Continue reading “New vehicle prices fall below sticker price after nearly two years, Kelley Blue Book data shows”

WASHINGTON, April 12 (Reuters) – The U.S. Environmental Protection Agency (EPA) on Wednesday proposed sweeping emissions cuts for new cars and trucks through 2032, a move it says could mean two out of every three new vehicles automakers sell will be electric within a decade.

The proposal, if finalized, represents the most aggressive U.S. vehicle emissions reduction plan to date, requiring 13% annual average pollution cuts and a 56% reduction in projected fleet average emissions over 2026 requirements. The EPA is also proposing new stricter emissions standards for medium-duty and heavy-duty trucks through 2032.

Continue reading “U.S. proposes 56% vehicle emissions cut by 2032, requiring big EV jump”

April 12 (Reuters) – Mercedes-Benz Group (MBGn.DE) sales rose moderately in the first quarter of the year, boosted by electric vehicles (EV) and premium cars, the German carmaker said on Wednesday.

Worldwide sales increased 3% to 503,500 vehicles, with Europe posting the strongest growth at 8%.

Continue reading “Mercedes posts rise in Q1 sales boosted by EVs, premium cars”

April 12 (Reuters) – Alphabet Inc’s (GOOGL.O) self-driving technology unit Waymo said on Wednesday that some of its vehicles in San Francisco encountered dense fog and briefly pulled over to the side of the road.

The incident, which occurred at around 6.00 a.m. Pacific Time, impeded some traffic movement before the cars moved out of the area as the fog began to clear, Waymo said.

Continue reading “Waymo vehicles pull over in California due to fog”

By Terje Solsvik

WASHINGTON, April 11 (Reuters) – A major U.S. transport union on Tuesday opposed a request by Alphabet Inc’s (GOOGL.O) self-driving unit Waymo and autonomous driving technology company Aurora Innovation Inc (AUR.O) for an exemption from rules on warning devices for large semi-trucks, citing safety issues.

The Federal Motor Carrier Safety Administration (FMCSA) said last month it received a joint application from Waymo and Aurora seeking a five-year exemption from rules that require drivers to place reflective triangles or a flare around a stopped truck to alert other drivers and help prevent a crash.

Continue reading “US union opposes driverless trucks waiver for Waymo, Aurora”

SEOUL, April 11 (Reuters) – Hyundai Motor Group said on Tuesday it planned to invest 24 trillion won ($18.14 billion) in South Korea’s electric vehicle (EV) industry through 2030, bolstering its presence in a segment that is set to dominate long-term global automotive demand.

The investment plan by the group, which includes Hyundai Motor Co (005380.KS), Kia Corp (000270.KS) and Hyundai Mobis Co Ltd (012330.KS), came as President Yoon Suk Yeol attended a groundbreaking ceremony for Kia’s first designated electric vehicle plant.

Continue reading “Hyundai Motor Group to invest $18 bln in South Korean EV industry by 2030”

WASHINGTON, April 10 (Reuters) – The U.S. Energy Department (DOE) on Monday proposed reducing electric vehicles’ (EV) mileage ratings to meet government fuel economy requirements, a move that could force automakers to sell more low-emissions cars or improve conventional models.

DOE wants to significantly revise how it calculates the petroleum-equivalent fuel economy rating for electric and plug-in electric hybrids for use in the National Highway Traffic Safety Administration’s (NHTSA) Corporate Average Fuel Economy (CAFE) program.

Continue reading “US proposes to slash EV mileage ratings to meet fuel economy rules”

By Ernest Scheyder

April 11 (Reuters) – General Motors Co (GM.N) will announce on Tuesday an investment in lithium technology startup EnergyX as it expands further into the mining industry, the latest deal by the car maker to ensure long-term supplies of the metal used to make electric vehicle batteries.

The global push by automakers to electrify their fleets has sparked a rush for stable supplies of lithium, copper, nickel and other critical minerals. Demand is expected to exceed supply by the end of the decade, fueling interest in novel production methods.

Continue reading “Exclusive: General Motors moves deeper into mining with EnergyX lithium investment”

April 11 (Reuters) – BMW (BMWG.DE) remains on track for slightly higher sales this year despite a dip in demand in the first quarter, including in the Chinese market, the German carmaker said on Tuesday.

BMW said it delivered 588,138 vehicles in the first quarter, down 1.5% on the previous year, while electric vehicle (EV) sales rose 83.2% year on year to 64,647 vehicles.

Continue reading “BMW on track for 2023 target despite slight Q1 sales fall”

ROME, April 11 (Reuters) – Italian supercar maker Ferrari said on Tuesday it had signed a deal with Samsung Display to use its organic light-emitting diode (OLED) display panels in future car models.

The South Korean company will develop “bespoke OLED technology display solutions” for the next generation of Ferraris, Chief Executive Benedetto Vigna said in a statement.

Continue reading “Ferrari partners with Samsung to develop in-car displays”

By Nathan Gomes

April 11 (Reuters) – CarMax Inc (KMX.N) on Tuesday posted fourth-quarter profit above analysts’ estimates as cost cutting measures helped the pre-owned car retailer soften the blow from a slowdown in demand for vehicles.

Shares of the Richmond, Virginia-based company rose over 9% at $71.81 in morning trade.

Continue reading “CarMax speeds past quarterly profit estimates on cost cuts”

By Michael Martina and Patricia Zengerle

WASHINGTON, April 10 (Reuters) – The leader of a U.S. congressional committee on China said on Monday he was concerned about electric carmaker Tesla Inc’s (TSLA.O) dependency on China, a day after the company revealed plans to open a Megapack battery factory in Shanghai.

Tesla announced the factory in a tweet on Sunday, and Chinese state media said it would initially produce 10,000 Megapack units a year, equal to around 40 gigawatt hours of energy storage, and complement a huge existing Shanghai plant making electric vehicles.

Continue reading “US House committee chair ‘concerned’ by Tesla deals in China”

BEIJING/SHANGHAI, April 10 (Reuters) – Growth in sales of China’s passenger vehicles was flat in March from a year earlier, industry data showed on Monday, as more price cuts by auto brands and the rollout of incentives by local governments helped to support demand.

Car sales in March were 1.61 million units, the China Passenger Car Association (CPCA) said. In the first three months, sales had fallen 13.4% to 4.33 million units, it added.

Continue reading “China’s car sales stay flat in March amid price war”

By Stefanno Sulaiman

JAKARTA, April 10 (Reuters) – Indonesia will propose a free trade agreement for some minerals shipped to the United States so that companies in the electric vehicle battery supply chain operating in the country can benefit from U.S. tax credits, a senior minister said on Monday.

Washington has issued a new guidance for EV tax credits under the Inflation Reduction Act (IRA), requiring a certain value of battery components to be produced or assembled in North America or a free trade partner. The rules are aimed at weaning the United States off dependence on China for the development of its EV battery supply chain.

Continue reading “Indonesia to propose limited free trade deal with US on critical minerals”

SHANGHAI, April 9 (Reuters) – Tesla Inc (TSLA.O) is opening a factory in Shanghai, capable of producing ten thousand Megapack energy product per year, to supplement output of Megapack factory in California, the company said in a tweet on Sunday.

The news was first reported by Chinese state media outlet Xinhua.

Continue reading “Tesla to build Shanghai factory to make Megapack batteries”

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