TOKYO, Feb 22 (Reuters) – Toyota Motor Corp (7203.T), the world’s biggest automaker, will accept a union demand for a rise in wages and bonus payments in full, two people familiar with the matter said on Wednesday, as Japan steps up calls for businesses to hike pay.

As one of Japan’s biggest employers, Toyota has long served as a bellwether of the spring labour talks, which are in full swing at major companies. Many are expected to conclude swiftly as the government seeks inflation-beating wage hikes to ease burdens on consumers.

Continue reading “Toyota to accept full union demand for wage hike – sources”

BERLIN, Feb 21 (Reuters) – Tesla (TSLA.O) has paused plans to produce entire batteries in Brandenburg, Germany, and will instead carry out some production steps in the United States where tax incentives are more favourable, the Brandenburg economy ministry said on Tuesday.

The U.S. carmaker had originally planned to produce the full battery at the Gruenheide site in Germany, with a peak capacity of over 50 gigawatt hours per year.

Continue reading “Tesla scales back German battery plans, won over by U.S. incentives”

Feb 21 (Reuters) – Canadian retail sales rose by 0.5% in December from November at C$62.12 billion ($46.19 billion), on higher sales at motor vehicles and parts dealers, as well as general merchandise stores, Statistics Canada said on Tuesday. Sales were seen to rise by 0.7% in January, the agency said in a flash estimate.

Sales increased in seven of 11 subsectors, representing 75.1% of retail trade. In volume terms, retail sales grew 1.3%.

Continue reading “Canada December retail sales up 0.5% on autos, seen up 0.7% in January”

WILMINGTON, Del., Feb 21 (Reuters) – A trial challenging Elon Musk’s $56 billion pay at Tesla Inc (TSLA.O) may hang on whether a single material misleading disclosure to shareholders would void the compensation plan, which the judge hearing the dispute called “a kill shot.”

At Tuesday’s closing arguments in a Delaware court, a judge pressed lawyers representing Tesla directors and the investor challenging Musk’s pay over whether the company’s explosive growth outweighed misleading disclosures about the pay plan in 2018.

Continue reading “Judge asks if Musk’s $56 billion Tesla pay hangs on a legal ‘kill shot’”

PTI – We have taken a lead when it comes to the climate change initiative. One big component is the shift towards green technology, and EV is an important mission in that. Demand is increasing. We need 5,000 chargers at present in the top 20 cities of India. ToT for EV will provide immense benefit to the country,” IT secretary Alkesh Kumar Sharma said.

Electronics and IT secretary Alkesh Kumar Sharma on Tuesday said that the production of semiconductors in the country will start very soon. He was responding to a query around plan of action of the Ministry of Electronics and IT after state-owned company Energy Efficiency Services Limited (EESL) raised the issue of shortage of electronic chip and printed circuit board (PCB or motherboard) hindering domestic production of electric meters.

Continue reading “Semiconductor manufacturing to start very soon in India: IT secretary”

WILMINGTON, Del, Feb 21 (Reuters) – Lawyers for Elon Musk and a Tesla Inc (TSLA.O) investor will make closing arguments on Tuesday in a trial over his $56 billion pay package and whether it fueled the electric carmaker’s growth or improperly subsidized Musk’s dream of one day traveling to Mars.

The arguments follow a five-day trial in November that featured testimony from the Tesla chief executive about the origins of the 2018 pay package and whether its performance goals were difficult to achieve and accurately described to investors.

Continue reading “Judge to hear final arguments in trial over Musk’s $56 billion Tesla pay”

SHANGHAI, Feb 21 (Reuters) – Chinese electric-vehicle maker Nio Inc (9866.HK) plans to build a factory to produce budget EVs under a new brand for export to Europe from as early as next year, three people with knowledge of the matter said.

The plan to broaden the company’s lineup and expand overseas sales comes as EV sales sharply weaken in China, the world’s largest auto market, following an end in state subsidies for EV purchases.

Continue reading “Nio to build factory in China for budget EVs – sources”

SHANGHAI, Feb 21 (Reuters) – Chinese electric vehicle (EV) startup Nio Inc (9866.HK) plans to build 1,000 battery-swapping stations in China in 2023 to bring the total number of such facilities to 2,300 by year-end, its Founder and Chairman William Li said on Tuesday.

Nio will build 400 battery-swapping stations along highways and 600 in urban areas with a focus on the country’s third- and fourth-tier cities and counties, Li said in a post on Nio’s social media platform.

Continue reading “EV maker Nio to build 1,000 battery-swap stations in China in 2023”

PTI – The ministry had also issued guidelines on January 12, 2023 for procurement of power from untied capacity of imported coal based plants during the crunch period (April and May) on competitive bidding basis.

The power ministry has mandated all imported coal-based thermal plants to function with full capacity from March 16 to June 15 this year in order to meet the anticipated high demand of electricity. This order (under Section 11 of the Electricity Act) shall remain valid for generation and supply of power from March 16, 2023 to June 15, 2023, stated a notice sent to 15 thermal plants that use imported coal.

Continue reading “Power ministry mandates imported coal-based plants to run at full capacity to avoid shortage in summers”

LONDON, Feb 21 (Reuters) – Luxury carmaker Jaguar Land Rover said on Tuesday it is opening three new engineering hubs in Europe to develop autonomous vehicle technologies as part of its partnership with Silicon Valley artificial intelligence company Nvidia (NVDA.O).

The hubs in Munich, Bologna and Madrid will develop self-driving systems for JLR’s next generation of luxury vehicles. JLR already has six global tech hubs the United States, China and Europe.

Continue reading “Jaguar Land Rover opens three European self-driving tech hubs”

Feb 21 (Reuters) – Australia’s graphite developer Magnis Energy (MNS.AX) on Tuesday said it has signed a binding offtake deal with Tesla Inc (TSLA.O) to supply battery anode materials for a minimum three-year term beginning February 2025.

The deal comes while automakers race to secure the supply of critical minerals as the world shifts to decarbonise and diversify global supply chains away from China, the world’s biggest producer of electric vehicle batteries.

Continue reading “Australia’s Magnis in deal with Tesla to supply graphite for electric vehicle batteries”

New York, Feb 20 (Reuters) – A team of Reuters reporters on Monday won a George Polk Award for reports that revealed the widespread use of child labor among suppliers to Hyundai Motor Co in the U.S. state of Alabama.

The series of stories, “Undocumented and Underage,” has prompted at least 10 probes by U.S. and Alabama authorities into suppliers of Hyundai and sister brand Kia. The reporting was carried out over more than a year by journalists Joshua Schneyer, Mica Rosenberg, Kristina Cooke and colleagues.

Continue reading “Reuters wins George Polk Award for uncovering child labor in Hyundai supply chain”

SHANGHAI, Feb 20 (Reuters) – Volkswagen’s joint venture with China’s SAIC Motor (600104.SS) said on Monday it had appointed Jia Jianxu, a veteran executive at the state-owned Chinese automaker, as its new general manager.

Born in 1978, Jia has more than 20 years of experience in the auto industry and was in charge of SAIC’s European market expansion, according to SAIC-VW’s statement. Both automakers have a 50% share in the joint venture.

Continue reading “VW’s China JV with SAIC names Jia Jianxu as its new head”

PTI – Aligned towards its goal of a clean and green environment, Tata Motors will be aiding Uber in electrifying their services across Delhi NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru, and Ahmedabad. The company will begin the deliveries of the cars to Uber’s fleet partners in a phased manner, starting this month.

Tata Motors, India’s leading automobile manufacturer and the pioneer of India’s EV evolution, on Monday signed an MoU with Uber, India’s leading ridesharing app, to bring 25,000 XPRES–T EVs into their premium category service.

Continue reading “Tata Motors and Uber sign MOU for 25000 XPRES-T EVs”

PTI – The enterprise value of the business is Euro 540 million and the transaction will be funded by a mix of debt and internal accruals The transaction remains subject to information or consultation with employee representatives. Completion of the envisaged transaction will be subject to customary regulatory approvals and would be expected by Q2 FY24 (July- Sept 23).

Automotive supplier Motherson Group on Sunday said it has entered into an agreement to acquire 100% of the stake in SAS Autosystemtechnik (Germany) from Faurecia, a company of the Forvia Group.

Continue reading “Motherson to acquire SAS Autosystemtechnik from Faurecia”

PTI ( By Prof -Ing. Praveen Kumar)– The positive implications of this discovery may be outweighed by its negative impacts if caution is not exercised. As with any resource extraction, Li mining can have significant social, environmental, and health impacts. It can cause soil degradation, water shortages, biodiversity loss, and damage to ecosystem functions. lithium production requires substantial amounts of water and energy. A lithium-ion battery requires three other critical elements, Nickel (Ni), Manganese (Mn), and Cobalt (Co) which are to be imported.

In the Reasi district of Jammu and Kashmir, an extensive lithium (Li) deposit, one of the largest in the world, has been discovered. This discovery holds significant potential to support contemporary technology, especially in transportation electrification, and to reduce dependence on fossil fuels. Lithium is a valuable resource due to its lightweight and widespread usage in electronic devices, such as mobile phones, laptops, cars, and aircraft.

Continue reading “Lithium find in India good, but miles to go for sustainable production, application”

Largest car leasing and rental company of India takes delivery of 108 units of the First Internet SUV of India made by one of the most innovative and youngest car maker at India.

All in a day’s work! Whew!

MG Motor India has delivered 108 Hector SUVs over a single business day to Orix India for its rent-a-car division.

Orix, is said to be one of the largest car leasing and rental companies in India and is part of the Orix Corporation, Japan, a highly diversified corporation offering a wide range of services globally.

The formal handing-over ceremony was held at MG Moti Nagar, New Delhi, in the presence of Gaurav Gupta, CCO, MG Motor India, and Sandeep Gambhir, MD and CEO, Orix India.

Continue reading “MG Motor India delivers 108 Hector SUVs to Rent a Car Division of Orix India | All in One Day”

PTI – Acknowledging that strengthening public transport is one of the key issues in the endeavour towards a more sustainable transport system, the state government has time and again increased the number of public vehicles, Khattar said.

Haryana Chief Minister Manohar Lal Khattar on Saturday flagged off 70 fully built-up standard non-AC buses at Panchkula. According to plans, 400 fully built-up standard non-AC buses are likely to be delivered by March 31. The remaining buses will be delivered before June 30, an official release said.

Continue reading “Haryana CM flags off 70 fully built-up buses”

PTI  – The company produces the electric scooter at its Chittoor-based plant in Andhra Pradesh and competes with the likes of Bajaj Chetak, TVS iQube, Ather Energy, Hero Electric and Ola Electric, among others.

The country’s largest two-wheeler maker Hero MotoCorp plans to expand its electric two-wheeler range over the next 18-24 months as it looks to cater to demand across multiple customer segments, according to a senior company official. The company, which has already commenced sales of its electric scooter under Vida brand across Delhi, Bengaluru and Jaipur, plans to introduce the existing range in other cities as well in the next fiscal before it starts to roll out the new products.

Continue reading “Hero MotoCorp plans to expand electric two- wheeler range over next 12-18 months”

BERLIN, Feb 19 (Reuters) – German carmakers Mercedes-Benz (MBGn.DE) and VW (VOWG_p.DE) have urged the government to do more to scale up the number of electric vehicle charging stations across the country, German paper Bild am Sonntag wrote on Sunday.

“To speed up the change (to electric vehicles), we need to be sure that the charging station infrastructure is being built up,” Mercedes-Benz Chief Executive Ola Kallenius was quoted as saying by the paper. “That’s also a question for politics.”

Continue reading “VW, Mercedes-Benz urge Berlin to accelerate EV charging network expansion, report says”

BERLIN, Feb 19 (Reuters) – Franco-Italian carmaker Stellantis is upbeat about the outlook of its German subsidiary Opel which it believes will be able to keep operating as a separate brand, the company’s Europe chief Uwe Hochgeschurtz told magazine Automobilwoche.

“I’m happy with the brand and with its array of products,” Hochgeschurtz was quoted as saying in the interview published on Sunday. “There is great capacity for development.”

Continue reading “Carmaker Stellantis upbeat about future of German brand Opel – magazine”

CHENNAI, Feb 18 (Reuters) – SoftBank Group-backed (9984.T) Ola Electric would invest $920 million in the southern Indian state of Tamil Nadu to manufacture electric cars and batteries for electric vehicles (EVs), a state government statement said on Saturday.

Ola will invest 76.14 billion rupees ($920 million) through its subsidiaries Ola Electric Technologies and Ola Cell Technologies, drawn to the growing demand for EVs in India.

Continue reading “Ola plans $920 million India investment in electric cars, batteries”

HANOI, Feb 18 (Reuters) – Vietnam’s electric vehicle (EV) maker VinFast is recalling 2,781 of its sports utility model VF8 sold in the domestic market to check and replace the bolt connecting the front brake caliper to the knuckle, the company said on Saturday.

VinFast, which began operations in 2019, is gearing up to expand in the United States where it hopes to compete with legacy automakers. It started to ship its first 999 VF8s in November last year and is planning to deliver them this month.

Continue reading “Vietnam’s EV maker VinFast recalls nearly 2,800 units domestically”

MUNICH, Feb 17 (Reuters) – French President Emmanuel Macron signaled on Friday that he would discuss concerns about U.S. electrical vehicle subsidies with Vice President Kamala Harris as they met during the Munich Security Conference.

“We are working hard,” on the issue, Macron said before their meeting.

While EU countries welcome the U.S. commitment to energy transition, they fear the U.S. Inflation Reduction Act’s (IRA’s) $369 billion of subsidies for electric vehicles (EVs) and other clean technologies could put companies based in Europe at a disadvantage.

Continue reading “France’s Macron signals electric car subsidy concern on agenda with Harris”

PTI – According to industry sources, people who have bought two-wheelers are now unable to get their High- Security Number Plates (HSRP) and physical RC copies, and use their new vehicles as dealers are not able to complete the registration process on the Vahan portal.

Hundreds of customers are in a fix due to the Chandigarh administration’s policy of stopping registration of petrol- powered two-wheelers for the rest of the 2022-23 fiscal, according to sources. As per the notice by the Registration and Licensing Authority (RLA), the registration of ICE (internal combustion engine) two-wheelers in the city has been stopped since February 10 for this fiscal ending March.

Continue reading “Customers in a fix due to ban on registration of non-electric 2-wheelers for FY23 in Chandigarh”

SAO PAULO, Feb 17 (Reuters) – Electric aircraft maker Eve Holding Inc (EVEX.N) is “on track” to meet its goal of starting commercial operations in 2026, an executive said on Friday, and getting its aircraft certificated is the most immediate target.

Eve’s vice president of services & fleet operations, Luiz Mauad, told Reuters in an interview he expects authorities in 2023 to make progress on establishing rules for the sector, which would pave the way for certification “in a few years”.

Continue reading “Embraer’s electric aircraft maker Eve ‘on track’ to start service in 2026”

MEXICO CITY, Feb 17 (Reuters) – Tesla Inc’s (TSLA.O) quest to build its first factory in Mexico reveals some of the shaky underpinnings of the country’s rise as a nearshoring darling, with proximity to U.S. buyers weighed down by concerns over power supply and political interference.

Mexican President Andres Manuel Lopez Obrador said Nuevo Leon at the U.S. border and Hidalgo in central Mexico are the two states leading the race for the coveted investment, and his foreign minister said on Friday that the electric vehicle maker led by billionaire Elon Musk was close to announcing expansion plans in Mexico.

Continue reading “Analysis: Tesla’s search for Mexico location shows bumps on nearshoring road”

Feb 17 (Reuters) – Top U.S. auto retailer AutoNation Inc (AN.N) reported a better-than-expected quarterly profit on Friday, sending its shares up 9%, as demand for new vehicles, spare parts and services offset a poor performance in the used-vehicle segment.

The automotive industry is starting to show signs of a gradual recovery from a global supply-chain crisis that had curtailed production, enabling dealers such as AutoNation to boost their new-vehicle deliveries to customers.

Continue reading “AutoNation overtakes profit estimates as new-vehicle demand improves”

WASHINGTON, Feb 16 (Reuters) – Tesla Inc (TSLA.O) will recall more than 362,000 U.S. vehicles to update its Full Self-Driving (FSD) Beta software after U.S. regulators said on Thursday the driver assistance system did not adequately adhere to traffic safety laws and could cause crashes.

The National Highway Traffic Safety Administration (NHTSA) said the Tesla software allows a vehicle to “exceed speed limits or travel through intersections in an unlawful or unpredictable manner increases the risk of a crash.”

Continue reading “Tesla recalls 362,000 U.S. vehicles over Full Self-Driving software”

WASHINGTON, Feb 16 (Reuters) – The National Highway Traffic Safety Administration (NHTSA) said it is holding discussions with Ford Motor (F.N) after the automaker halted F-150 Lightning production and deliveries following a battery fire.

The U.S. automaker said the suspension of production of its F-150 electric truck will last until at least the end of next week. Ford said one EV truck caught fire on Feb. 4 during a pre-delivery quality inspection in a company holding lot in Dearborn, Michigan, and spread to a nearby truck. The automaker halted production the next day at its assembly plant.

Continue reading “U.S. auto safety agency in talks with Ford on F-150 EV production halt”

BERLIN, Feb 16 (Reuters) – Mercedes Benz (MBGn.DE) said on Thursday it plans to buy back up to 4 billion euros ($4.28 billion) of its shares over two years from March 2023, in a move welcomed by analysts ahead of the carmaker reporting full-year earnings on Friday.

Shareholders Beijing Automotive Group and Geely had agreed to divest their shares on a pro-rata basis concurrently with the share buyback to keep their stakes in the company below 10%, the statement added.

Continue reading “Mercedes-Benz to buy back up to 4 bln euros in shares by 2025”

PTI – Month-on-month, the demand was up 13.6 percent, reversing the dip in the previous month. Sales had fallen 5.1 percent month-on-month in January as cold conditions cut vehicular movement. Diesel, the most used fuel in the country, posted a near 25 percent rise in sales during February 1-15 to 3.33 million tonnes, as compared to the same period last year. Consumption was up 16.7 percent over the first half of February 2021 and 7 percent higher than 2020.

India’s fuel demand witnessed the sharpest rebound in February as petrol and diesel consumption rose by double digits after a winter lull in the previous month, preliminary industry data showed on Thursday. Petrol sales jumped almost 18 percent to 1.22 million tonnes in the first half of February, as compared to 1.04 million tonnes of consumption in the same period of last year.

Continue reading “India’s fuel demand sees sharpest rebound in February”

PTI – The Ather Grid (charging station) is today the biggest fast-charging network for two-wheeler EVs in the country with 60 per cent of current installations in Tier- II and Tier-III cities, the Bengaluru-based company said in a statement.

Electric two-wheeler maker Ather Energy on Thursday said it plans to install over 2,500 charging stations by this year-end to facilitate a hassle-free transition to EVs. The company has already installed over 1,000 fast charging stations across 80 cities in the country.

Continue reading “Ather Energy aims to install 2,500 charging stations by this year- end”

PTI – The Foundation for Innovation and Technology Transfer (FITT), an industry interface of IIT Delhi, oversees technology business incubators and enables innovations and technology commercialization. Sona Comstar, a global automotive systems and components manufacturer of Indian descent, has joined forces to launch the innovation program.

India FITT-IIT Delhi, with the support of Sona-Comstar, presents the 3rd call for the “Innovation Program for Smart, Safe and Clean Mobility,” a challenge for technopreneurs, startups, and innovators to solve roadblocks to sustainable mobility.

Continue reading “Sona-Comstar, IIT Delhi Innovation Program for Smart, Safe and Clean Mobility”

PTI – TG Minda business is planning to enhance the production capacity at its main plant at Neemrana to meet the growing demand for airbags as safety regulations become stricter in India, CFO Sunil Bohra said, adding, driver and passenger side airbags for frontal collisions are also increasingly equipped on vehicles in India.

Auto components maker Uno Minda Ltd will invest Rs 175 crore to expand its facility at Neemrana in Rajasthan to meet the growing demand for airbags ahead of mandatory norm of six airbags for passenger cars and SUVs coming up in October this year, according to its group CFO Sunil Bohra. The company, which has a joint venture with TG Japan – TG Minda, that is into automotive safety system, fuel cap, weather strip and sealing parts, already has confirmed orders of around Rs 350 crore for airbags, Bohra told analysts.

Continue reading “Uno Minda to invest Rs 175 crore to expand its Rajasthan facility”

By Nick Carey

LONDON, Feb 16 (Reuters) – A broad coalition of insurers, leasing companies, car repair shops and others are calling on the European Commission to propose rules for fair access to valuable vehicle data soon, fearing further delays could see the initiative shelved after European Parliament elections in 2024.

Companies in Europe and beyond are vying for control of the crown jewels of the connected car era, namely car manufacturers’ data covering everything from driving habits, to fuel consumption and tyre wear which can be used to target cash-generating services.

Continue reading “In EU car data tussle, insurers and others brace for delays, disappointment”