Summary

• Scholz meets Xi on final day of three-day tour of China
• Pushes for better access to China’s market for German firms
• Urges China to pressure Russia to end Ukraine invasion
• Carmaker CEOs with Scholz see more opportunities than risks

BEIJING, (Reuters) – German Chancellor Olaf Scholz lobbied for better market access for German firms in China in talks with Chinese President Xi Jinping on Tuesday and urged him to exert pressure on Russia to withdraw its forces from Ukraine. Continue reading “Germany’s Scholz lobbies Xi to improve market access, pressure Russia”

BARCELONA, (Reuters) – China’s Chery Auto has signed a joint venture deal with Spain’s EV Motors to produce cars at its first factory in Europe, EV Motors and the Catalan regional government said on Tuesday.

Cars will be produced later this year at a plant that Japanese carmaker Nissan shut down in 2021, helping to recover some of the 1,600 direct jobs lost as a result. Continue reading “China’s Chery to open its first European manufacturing site in Spain”

Summary

• AGM approves chief executive’s 2023 pay package
• CEO remuneration for 2023 rose 56% to up to 36.5 mln euros
• Warns of auto sector’s increasingly competitive pricing

MILAN, (Reuters) – Carmaker Stellantis faces a challenging year with increasing pricing pressures, its chief executive warned on Tuesday before shareholders voted to approve his bumper 2023 salary package. Continue reading “Stellantis chief Tavares warns of tough year ahead”

TOKYO, (Reuters) – Japan’s Honda Motor plans to launch six next-generation electric vehicle (EV) models branded Ye in China by 2027, the automaker said on Tuesday.

It added that it also planned to roll out a total of 10 Honda-brand EV models in China by 2027 in the race to ensure EVs make up 100% of its automobile sales in the country by 2035. Continue reading “Honda to launch next-generation EVs in China by 2027”

Summary

• Some China sales teams notified of dismissal – sources
• U.S.-based service centres suffered heavy layoffs – sources
• No staff dismissed in Germany yet, discussions ongoing – Tesla

SHANGHAI/BERLIN, April 16 (Reuters) – Tesla’s global job cuts include reducing staff in the U.S. and China, the automakers’ two biggest markets, across sales, tech, and engineering, five sources briefed on the matter said. Continue reading “Tesla’s global job cuts include leading markets US, China”

YOKOHAMA, Japan, (Reuters) – Japan’s Nissan Motor will begin to produce solid-state batteries for electric vehicles at scale by early 2029 and use huge casting machines as it seeks to raise efficiency and drive down costs on future models, the automaker said on Tuesday.

Nissan is betting on technological advancements to stave off heavy competition from rivals such as Tesla and BYD that have raced ahead in production of battery-powered cars. Continue reading “Japan’s Nissan bets on solid-state batteries, gigacasting for next-gen EVs”

SHANGHAI, (Reuters) – BYD has unveiled three new models, including two concept cars, under its premium brand Fangchengbao as the Chinese electric vehicle giant ramps up efforts to sell into higher-priced segments.

The Bao 8 SUV, Super 3 concept crossover and Super 9 concept sports car made their debut at a live-streamed event on Tuesday night. The company will showcase them at the Beijing auto show, which starts late next week. Continue reading “China’s BYD unveils three new models for its off-road Fangchengbao lineup”

(Reuters) – North Carolina regulators have approved a state mining permit for Tesla supplier Piedmont Lithium to develop one of the largest U.S. sources of the key electric vehicle battery metal, although key financing and local regulatory challenges remain.

The approval from the North Carolina Department of Environmental Quality, which was announced by the company on Monday and is conditional on the posting of a $1 million reclamation bond, removes one major hurdle to Piedmont’s plans to tap a large lithium deposit just outside Charlotte. Continue reading “Tesla supplier Piedmont Lithium gets key North Carolina mining permit”

DETROIT, (Reuters) – General Motors in 2025 will move its headquarters deeper into downtown Detroit, the U.S. automaker said on Monday, after spending more than 20 years in its riverfront home at the Renaissance Center.

GM will place its global headquarters a few blocks away from the so-called RenCen, in a sleek new high-rise building called Hudson’s, which will be the second-tallest skyscraper in Detroit. Continue reading “GM moving to new Detroit headquarters in 2025”

SHANGHAI, (Reuters) – German Chancellor Olaf Scholz on a visit to China on Monday pressed his case for open and fair markets, warning his hosts against dumping and overproduction while calling for the European Union not to act out of protectionist self-interest.

Scholz’s trip to China, in which he is accompanied by several leading German business executives as well as three ministers, is being watched for signs as to how Europe will calibrate its response to what it believes are Chinese goods being dumped on its market. Continue reading “Germany’s Scholz in China: we want fair auto market but no dumping”

SHANGHAI, (Reuters) – Chinese electric vehicle (EV) maker Nio’s founder called for openness in a rare speech in the United States, where politicians have been seeking to further restrict China’s access to the world’s second-largest auto market.

William Li, speaking at an event at Harvard University on Saturday, said rapid EV growth in China resulted from an “open and competitive” market where “all products are welcome regardless of their brands or origins”. Continue reading “China EV maker Nio urges openness in US speech amid tensions”

(Reuters) – North Carolina regulators have approved a state mining permit for Tesla supplier Piedmont Lithium to develop one of the largest U.S. sources of the key electric vehicle battery metal, Piedmont said on Monday.

The approval from the North Carolina Department of Environmental Quality, which is conditional on the company posting a $1 million reclamation bond, removes a major hurdle to Piedmont’s plans to tap a large lithium deposit just outside Charlotte. Continue reading “North Carolina approves mining permit for Tesla supplier Piedmont Lithium”

SINGAPORE, (Reuters) – Low rates of investment in the global mining sector have put the global energy transition at risk, widening the supply gap in critical minerals like copper, Rio Tinto chairman Dominic Barton said on Monday.

“The gap is humungous, and I am actually very worried about whether we will be able to close (it),” Barton said via video link at the Ecosperity conference in Singapore. Continue reading “Global mining investment too low to support energy transition, Rio Tinto chairman says”

The U.S. National Highway Traffic Safety Administration (NHTSA) said on Monday it has opened a preliminary evaluation to investigate claims related to loss of brake assist for 3,322 GM Cadillac Lyriq electric vehicles.

The NHTSA said it received reports of a hard brake pedal, followed by a “Brake System Failure” message at start up or while driving. The evaluation covers 2023 model year vehicles. Continue reading “US opens probe into 3,322 GM Cadillac Lyriq EVs over loss of brake assist”

LONDON, (Reuters) – BP has cut over a tenth of the workforce in its electric vehicle charging business and pulled it out of several markets after a bet on rapid growth in commercial EV fleets didn’t pay off, company sources said.

The changes at BP Pulse are part of CEO Murray Auchincloss’s efforts to focus on the British company’s most profitable segments as it battles investor doubts over its plan to shift away from oil and gas to low-carbon energy. Continue reading “Exclusive: BP’s EV charging arm cuts jobs, reduces global ambitions”

• Some staff in U.S. already notified of layoffs – source
• Tesla looking to cut costs, boost productivity – memo
• Q1 deliveries fell for first time in nearly four years
• Battery development chief announces departure on X

Continue reading “Tesla to lay off more than 10% of staff globally as sales fall”

Source : PTI  | The Gurugram administration on Saturday conducted a mega verification drive to check fitness of school buses under the Surakshit School Vahan policy and issued challans to 184 buses, officials said. Over 2,700 buses of more than 500 private schools in the district have been summoned for verification over the two days, they said.

As many as 795 buses were checked on the first day of this two-day campaign in the district, they added. Continue reading “Gurugram admin begins fitness drive for buses of over 500 schools”

Source : PTI | On the streets of Kolkata and surrounding areas, e-rickshaws, popularly known as ‘toto’, are set to be powered by lithium-ion batteries with the rolling out of a battery leasing model, officials said on Sunday. Neuron Energy, a lithium-ion battery maker, has joined hands with Urja Mobility to spearhead the leasing model which has so far been heard only in the business-to-business EV sector, they said. Continue reading “Leasing of lithium-ion batteries for 3-wheelers to be rolled out soon in Kolkata”

Source : PTI | New Delhi: More than 1.26 lakh commuters have been booked for stop-line violations in the first three months of 2024, which is 20 per cent higher than the last year during the same period, the Delhi Traffic Police said on Sunday. “The stop-line violations, which involve motorists disregarding the designated stop lines at traffic signals, have been a persistent concern contributing to the road safety hazards and traffic congestion,” a senior officer of the Delhi Traffic Police said.

According to a statement issued by the traffic police, they initiated special drives against stop-line violations and booked 1,26,084 violators from January 1 to March 31 compared to 1,05,317 in 2023 in the same period. Continue reading “Over 1.26 lakh commuters booked for stop-line violations in 3 months: Delhi traffic police”

Source : PTI | New Delhi: The government has set the target of producing 170 million tonnes of coal from captive and commercial coal blocks in the country during the current financial year. In FY24, captive and commercial coal blocks produced 147.12 million tonnes (MT) of dry fuel, 26 per cent higher from 116 MT produced in FY23.

According to an official, additional secretary, coal, M Nagaraju this week reviewed the coal production targets for FY25. Representatives of 74 coal mines were present in the review meeting. Continue reading “Govt sets coal production target of 170 million tonnes for FY25”

Source : PTI | Global automotive major Stellantis plans to make India a hub for exports of electric vehicles initially targeting Southeast Asian markets, according to a senior company official. Stellantis India on Thursday commenced exports of its Made in India ‘E-C3’ electric car with the shipment of 500 units to Indonesia and is seeking to leverage on India’s cost competitiveness in manufacturing to increase its overseas shipments.

“We will be the first ‘multinational OEM’ in India to achieve this feat (to export EVs). We also have plans for a couple of other markets, Nepal and Bhutan. This is just the start…the plan is to take it from there,” Stellantis India CEO & MD Aditya Jairaj told PTI. Continue reading “Stellantis, the maker of Jeep and Citroen brands, plans to make India an EV export hub”

(Reuters) – The United Auto Workers (UAW) said on Friday it is “extremely disappointed” with truck maker Volvo Group’s decision to set up a new truck plant in Mexico, which the company said would help supplement its U.S. production.

The union, in a letter published on Thursday, said it is looking into the contractual obligations for truck build rates at the Lehigh Valley Operations (LVO) plant and the potential legal ramifications from Volvo’s Mexico decision. Continue reading “UAW ‘extremely disappointed’ with Volvo’s Mexico plant decision”

BUENOS AIRES, (Reuters) – Billionaire Elon Musk and Argentina’s libertarian president promised to work together on Friday to promote free markets as well as potential lithium projects after the two likeminded men met in Texas, home to the tycoon’s Tesla electric car company.

The chief spokesman to President Javier Milei said the pair visited Tesla’s Austin headquarters and discussed a variety of topics, from the need to boost declining birthrates worldwide to pursuing technological development while defending “liberty.” Continue reading “Musk, Argentine president see eye-to-eye on boosting free markets and lithium”

Summary

• EU probe into EV imports from China could lead to tariffs
• CCCME says sample selection has tainted process
• CCCME complains of lack of transparency, double standards

BRUSSELS, (Reuters) – The European Union’s investigation into electric vehicles is stacked against Chinese manufacturers, not transparent and in violation of global trading rules, even before its outcome is known, a Chinese industry body said on Friday. Continue reading “Chinese body says EU electric vehicle probe is stacked against China”

Summary

• VinFast sold 82% of its cars to affiliated companies last year
• Automaker’s target of tripling sales faces tougher market
• VinFast’s main backers grapple with growing financial risks

HANOI, (Reuters) – As Vietnam’s biggest conglomerate Vingroup doubles down on its electric vehicle business with ambitious global expansion plans, it faces growing financial risks stemming from loss-making unit VinFast Auto . Continue reading “Vietnam EV maker VinFast’s challenges escalate risk for parent Vingroup”

WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration (NHTSA) said on Friday it was opening an investigation into Ford Motor’s recall of more than 42,000 SUVs over concerns of a fuel leak that could lead to an engine fire.

The auto safety regulator said it is reviewing the adequacy and safety consequences of Ford’s proposed recall remedy for 2022-2023 model year Bronco Sport and 2022 Ford Escape SUVs with 1.5L engines. Continue reading “US probes Ford recall of 42,000 Bronco, Escape SUVs for fuel leaks”

WASHINGTON, (Reuters) – The U.S. government has reimbursed auto dealers for more than $580 million in advance point-of-sale consumer electric vehicle (EV) tax credit payments since Jan. 1, the Treasury said on Friday.

Prior to 2024, U.S. auto buyers could only take advantage of the new EV credit of up to $7,500 or the $4,000 used EV credit when they filed tax returns the following year. Continue reading “US issues auto dealers over $580 million in advance EV tax rebates this year”

WASHINGTON, (Reuters) – The chair of the Senate Banking Committee on Thursday urged President Joe Biden to block Chinese-made vehicles from the United States auto market, marking the strongest call yet for action against China’s automakers by a U.S. lawmaker.

“I implore you to take bold, aggressive action and to permanently ban EVs produced by Chinese companies or whatever subsidiaries they establish to conceal their origins,” Senator Sherrod Brown, a Democrat, wrote on Thursday to Biden calling for “expeditious” action. “Chinese electric vehicles are an existential threat to the American auto industry.” Continue reading “Ohio senator wants Biden to permanently ban Chinese EVs from US”

DETROIT, (Reuters) – Ford said on Thursday it will begin shipping to North American dealers 144,000 of its redesigned F-150 and Ranger pickup trucks that it built but held back until now in an effort to head off quality problems.

Ford said it also will restart shipments this month of F-150 Lightning electric trucks which it had halted in February. Ford this week cut prices of some variants of the Lightning by as much as $5,500. Continue reading “Ford to send 144,000 trucks to North American dealers”

BERLIN, (Reuters) – Volkswagen announced on Thursday plans to invest 2.5 billion euros ($2.68 billion) in China to expand its production and innovation hub in the city of Hefei in Anhui Province.

Preparations are also being made for the production of the two Volkswagen brand models being developed together with Chinese partner XPENG to begin in 2026, it said. Continue reading “Volkswagen to invest $2.7 billion in Chinese production site”

(Reuters) – A new form of sticker shock has hit American car buyers like Darin Davis.

In January, when the 56-year-old Dallas real estate agent renewed the insurance on the pearly-white 2024 Cadillac XT4 that he bought just a few months earlier, the rate nearly doubled. Continue reading “Soaring insurance costs hit as US buyers get a break on car prices”

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(Reuters) The last day of U.S. Secretary Janet Yellen’s trip to China coincided with the strongest retort yet from Beijing officials over her claims that China is flooding global markets with cheap goods, particularly in the new green industries.

As Yellen laid out plans to formalise dialogue with China over excess industrial capacity in electric vehicles (EVs), solar panels and batteries, saying Washington would not accept U.S. industry being “decimated”, the Chinese finance ministry issued a statement saying it had already “fully responded” to her concerns. Continue reading “What overcapacity? China says its industries are simply more competitive”

(Reuters) – A new form of sticker shock has hit American car buyers like Darin Davis.

In January, when the 56-year-old Dallas real estate agent renewed the insurance on the pearly-white 2024 Cadillac XT4 that he bought just a few months earlier, the rate nearly doubled. Continue reading “Focus: Soaring insurance costs hit as US buyers finally get a break on car prices”

Source : PTI | Maruti Suzuki has applied for Bharat New Car Assessment Programme (Bharat-NCAP) safety ratings for some of its vehicles, a senior government official has said. Last year, Tata Motors’ SUVs Safari and Harrier became the first recipients of the safety rating for adult and child occupant protection as per Bharat-NCAP. The SUVs were given 5-star rating.

In August last year, the government launched Bharat-NCAP, India’s very own and independent safety performance evaluation protocol for automobiles. Continue reading “Maruti Suzuki applies for Bharat-NCAP safety ratings for some vehicles”

Source : PTI | New Delhi: American electric car maker Tesla CEO Elon Musk on Wednesday confirmed his visit to India and his planned meeting with Prime Minister Narendra Modi. In a post on X, he wrote, “Looking forward to meeting with Prime Minister @NarendraModi in India.”

Earlier in the day, sources said Musk is expected in India the week of April 22. He is likely to announce the company’s investment plans in the country during his visit, the sources said. Continue reading “Elon Musk confirms India visit, says looking forward to meet PM Modi”

NEW DELHI, (Reuters) – Tesla chief Elon Musk said he will visit India to meet Prime Minister Narendra Modi, and two sources told Reuters the billionaire entrepreneur is expected to make an announcement on investment and a factory in the country.

“Looking forward to meeting with Prime Minister Narendra Modi in India!”, he said in a post on X after Reuters first reported details of Musk’s planned India visit this month. Continue reading “Musk to meet Modi in India; sources say announcement on investment likely”

BERLIN, (Reuters) – German premium carmakers took a further hit to their Chinese sales in the first quarter, data from the companies showed on Wednesday, with Porsche and Mercedes-Benz also struggling with supply chain troubles.

Sales in China fell 3.8% at BMW, 12% at Mercedes-Benz and 24% at Porsche, the companies said, indicating that efforts by authorities and automakers to jumpstart demand in the world’s second-biggest economy are not yet seeing results. Continue reading “German premium carmakers struggle to revive demand in China”

(Reuters) – Uber Technologies said on Wednesday that it is boosting its safety features for passengers around the world, as it looks to minimize risk and ensure security for women at night.

The features allow passengers during a ride to select up to four safety preferences including encrypted audio recordings, PIN verification and live location sharing. Continue reading “Uber boosts safety features aimed at women passengers”

WASHINGTON, (Reuters) – National Transportation Safety Board chair Jennifer Homendy will tell lawmakers she is committed to winning approval of safety recommendations and scrutinizing federal agencies.

The U.S. Senate Commerce Committee is holding a hearing Wednesday on President Joe Biden’s nomination of Homendy to serve a new term heading the board that investigates air, rail, marine, pipeline and highway accidents. Continue reading “US NTSB chair vows to be ‘fierce advocate’ for safety in new term”