Dec 13 (Reuters) – The Biden administration plans to place Chinese chip maker Yangtze Memory Technologies (YMTC) and 35 other Chinese firms on a trade blacklist that would prevent them from buying certain American components, Bloomberg News reported on Tuesday.

The U.S Department of Commerce will add the Chinese companies to a so-called Entity List as early as this week, the report said, citing a person familiar with the matter. Continue reading “U.S. to add over 30 Chinese companies to trade blacklist -Bloomberg News”

MEXICO CITY, Dec 13 (Reuters) – A trade panel’s decision under a regional trade pact regarding content requirements for the automotive sector will be published after Jan. 15, Mexico’s economy ministry said on Tuesday.

If Mexico and Canada, who are siding against the United States in the dispute, win, the three countries have 45 days to implement changes, the ministry said in a tweet. Continue reading “Trade panel decision on auto rules dispute to come mid-January, Mexico says”

Dec 13 (Reuters) – U.S. Senator Joe Manchin, a Democrat who chairs the chamber’s energy panel, asked the Treasury Department on Tuesday not to allow a commercial electric vehicle tax credit to be used for consumer leasing, rental cars or ridesharing vehicle sales, rejecting a broad interpretation of the credit.

Reuters first reported last week the push by South Korea and some automakers that asked the Treasury Department to allow use of the commercial electric vehicle tax credit to boost consumer EV access as well as for the purchase of ride share and rental car vehicles. Continue reading “U.S. senator Manchin says Treasury should limit commercial EV tax credit use”

SAN FRANCISCO, Dec 13 (Reuters) – Alphabet Inc’s (GOOGL.O) Waymo has applied for the final permit it needs in California before it can sell fully autonomous rides, the company told Reuters on Tuesday.

A decision on its application, which was submitted Monday to the California Public Utilities Commission, could take months. General Motors Co’s (GM.N) Cruise is the only company with the permit so far and has charged for driverless rides in San Francisco since June. Continue reading “Waymo seeks permit to sell self-driving car rides in San Francisco”

DEARBORN, Mich., Dec 13 (Reuters) – Ford Motor Co (F.N) on Tuesday said it added a third work crew at an assembly plant near Detroit as it boosts production of its F-150 Lightning electric pickup truck.

The U.S. automaker said it added 250 jobs in November at its Rouge plant in Dearborn, Michigan, as a result of the additional crew. Continue reading “Ford adds work crew at Michigan plant as it boosts output of EV pickup”

BRUSSELS, Dec 13 (Reuters) – The European Commission is seeking feedback on whether the 27-country bloc needs to loosen state aid rules to allow governments to support companies affected by the U.S. Inflation Reduction Act, with plans for a European fund in future.

The $430 billion act, which grants consumers tax credits for U.S.-produced electric vehicles (EV) and other green products, has triggered fears it could disadvantage European Union companies and tempt businesses to relocate to the United States. Continue reading “EU to consult on easier state aid rules to counter U.S. subsidy law”

TOKYO/PARIS, Dec 13 (Reuters) – Nissan Motor Co Ltd doesn’t expect to reach an agreement with top shareholder Renault by year-end on retooling their alliance as some of the Japanese automaker’s board members are pushing to move cautiously, people familiar with the matter said.

France’s Renault SA (RENA.PA) wants Nissan (7201.T) to invest in a new electric-vehicle unit it plans to spin off as part of a major overhaul. Nissan wants Renault to sell some of its roughly 43% in the Japanese company to put the two carmakers on more equal footing, Reuters has previously reported. Continue reading “No Renault deal by year-end as some at Nissan urge caution -sources”

TOKYO, Dec 13 (Reuters) – Tesla Inc (TSLA.O) battery maker Panasonic Holdings (6752.T) on Tuesday said it had concluded an agreement to supply lithium-ion batteries to electric vehicle (EV) maker Lucid Group (LCID.O) as the Japanese company seeks to expand its customer.

“Partnerships with technology-leading EV manufacturers such as Lucid are critical to our mission,” Kazuo Tadanobu, the head of Panasonic’s energy business said in a press release. Continue reading “Panasonic agrees to supply EV batteries to Lucid Group”

Dec 14 (Reuters) – Ford Motor Co (F.N) and China’s Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ) are considering building a battery plant in Michigan or Virginia to reap tax benefits without treading on Sino-U.S. political sensitivities, Bloomberg reported on Wednesday.

The multibillion-dollar facility will make lithium iron phosphate batteries for Ford’s electric models, Bloomberg reported, citing people familiar with the matter. Continue reading “Ford, China’s CATL considering building U.S. battery plant -Bloomberg”

Dec 14 (Reuters) – The California Energy Commission on Wednesday approved a $2.9 billion investment plan to accelerate the state’s 2025 electric vehicle (EV) charging and hydrogen refueling goals.

The investment will result in 90,000 new EV chargers across the state, more than double the 80,000 chargers already installed, the energy commission said. Continue reading “California approves $2.9 bln investment to double car chargers in state”

• Sale brings Musk’s total selling to almost $40 bln
• Tesla stock marks lowest close in two years
• Investors frustrated at Musk’s selling and focus on Twitter

Dec 15 (Reuters) – Tesla (TLSA.O) boss Elon Musk disclosed another $3.6 billion in stock sales on Wednesday, taking his total near $40 billion this year and frustrating investors as the company’s shares wallow at two-year lows. Continue reading “Musk cashes out another $3.6 bln in Tesla stock”

Dec 14 (Reuters) – Mahindra and Mahindra (MAHM.NS), one of India’s oldest automakers, aims to sell its new family of electric SUVs around the globe, but an entry into the U.S. market won’t happen until later in the decade, the chief executive told Reuters.

“I don’t see us launching in the U.S. in the next five years,” Anish Shah, Mahindra’s CEO and managing director, said Tuesday in an interview. Continue reading “Mahindra CEO sees U.S. entry for new electric vehicles at least five years away”

BERLIN, Dec 14 (Reuters) – Bosch will beat revenue forecasts and earn more than 87 billion euros ($92 billion) in revenues this year, its deputy chief executive Christian Fischer told Handelsblatt in an interview published on Wednesday.

He added that the engineering company would rethink its strategy in view of the geopolitical crises facing the world, including by increasing its exposure to India in order better to hedge against risks from China, where the firm earns a fifth of its turnover. Continue reading “Bosch to beat forecasts, double down on India – Handelsblatt”

FLINS-SUR-SEINE, France, Dec 14 (Reuters) – The chairman of French carmaker Renault, Jean-Dominique Senard, said on Wednesday he remained confident about the outcome of talks with Japan’s Nissan.

He said the talks, which focus on how to retool a long-standing alliance between the two carmakers, were going “very well,” declining to comment on reports that they would spill into next year. Continue reading “Renault chairman: remains confident on outcome of talks with Nissan”

WASHINGTON, Dec 14 (Reuters) – General Motors (GM.N) said on Wednesday it was recalling 825,000 trucks and SUVs in North America because daytime running lights may not deactivate when the headlights are on, potentially causing excess glare.

The largest U.S. automaker said the recall covers various Cadillac CT4 and CT5; Buick Envision; Cadillac Escalade and Escalade ESV, Chevrolet Silverado 1500, Suburban, Tahoe, GMC Sierra 1500, Yukon, and Yukon XL vehicles from the 2020 through 2023 model years. Continue reading “GM recalls 825,000 trucks, SUVs over headlight issue”

SHANGHAI, Dec 14 (Reuters) – Chinese dealers that sell China-made Jeep cars are asking Stellantis (STLA.MI) for millions of dollars in compensation after the automaker stopped producing the brand in China, according to a letter signed by the dealers seen by Reuters.

Stellantis is overhauling its strategy in China after agreeing to file for bankruptcy of its Jeep joint venture with local partner Guangzhou Automobile Group (GAC) (601238.SS) in October. Continue reading “Chinese dealers seek compensation over Stellantis Jeep failure”

BERLIN, Dec 14 (Reuters) – Volkswagen’s (VOWG_p.DE) chief designer Klaus Zyciora is leaving the company and will be replaced by Porsche chief designer Michael Mauer, Volkswagen said on Wednesday.

Volkswagen said in a statement that “effective January 1, 2023, Michael Mauer will become Head of Group Design while also retaining his position at Porsche. He will replace Klaus Zyciora who is leaving the company to pursue tasks outside the Group.” Continue reading “Volkswagen replaces chief designer with Porsche hire”

BERLIN, Dec 13 (Reuters) – Volkswagen (VOWG_p.DE) and Italy’s Enel (ENEI.MI) have formed a joint venture to build 3,000 high-speed charging points across Italy for electric vehicles (EVs), investing 100 million euros ($105.38 million) each, Volkswagen said on Tuesday.

The charging points will be accessible to drivers of cars made by all manufacturers at 500 locations by the end of 2023, and will have a capacity of up to 350 kW. Continue reading “Volkswagen and Italy’s Enel launch joint venture for high-speed charging”

Dec 13 (Reuters) – Chrysler parent Stellantis (STLA.MI) said Tuesday it is recalling 1.4 million pickup trucks worldwide because tailgates may not latch properly and could open while driving.

The automaker said the recall covers various 2019 through 2022 model year Ram 1500, 2500, and 3500 pickup trucks. Continue reading “Chrysler parent Stellantis recalls 1.4 million pickup trucks over tailgate issue”

Dec 13 (Reuters) – China’s Geely Automobile Holdings Ltd (0175.HK) said on Tuesday its electric car brand, Zeekr, had confidentially filed for a U.S. initial public offering, in what would be the first major Chinese listing in the country in nearly two years.

Zeekr filed with U.S regulators last week, without providing any details on the size of its IPO or about its listing date, said Geely, which in October had laid out plans to spin off the subsidiary. Continue reading “Geely’s premium electric car brand Zeekr files for U.S. IPO”

HONG KONG, Dec 13 (Reuters) – Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.33 million Hong Kong-listed shares of electric vehicle maker BYD (002594.SZ) for HK$267.69 million ($34.43 million), a stock exchange filing showed.

The sale lowered Berkshire’s holdings in BYD’s total issued H-shares to 14.95% on Dec. 8, down from 15.07%, according to a filing to the Hong Kong Stock Exchange on Tuesday. Continue reading “Berkshire Hathaway sells $34.4 mln worth of shares in China’s BYD”

BEIJING, Dec 13 (Reuters) – From e-commerce giant JD.com to cosmetics brand Sephora, companies in China are rushing to minimise the impact of surging COVID infections – doling out test kits, encouraging more work from home and, in some cases, procuring truckloads of medicine.

After unprecedented protests against oft-draconian COVID curbs, the world’s second-largest economy abruptly dropped its zero-tolerance COVID stance last week. The ensuing fierce spread of the virus has even forced certain businesses to shut their doors for the time being. Continue reading “Hit by COVID wave, companies in China strain to keep operations running normally”

• German, Chinese and S.Koreans head to Hungary
• They dominate auto investment and subsidies
• Orban’s Hungary keen to court foreign business

BERLIN/BUDAPEST, Dec 13 (Reuters) – German automakers and Asian battery suppliers are getting together in Hungary in a multi-billion-dollar marriage of convenience to drive their electric ambitions. Continue reading “German car giants and Asian battery kings: a match made in Hungary”

WASHINGTON, Dec 12 (Reuters) – The U.S. new vehicle automotive fleet’s fuel efficiency was flat in the 2021 model year as automakers sold more sport utility vehicles and pickup trucks compared to cars, while the Detroit Three lagged behind foreign competitors and Tesla.

The U.S. Environmental Protection Agency said on Monday the fleetwide real-world average was 25.4 miles per gallon in the 2021 model year, the same as in 2020. The EPA estimates the 2022 fleetwide efficiency average will rise to 26.4 mpg. Continue reading “U.S. auto fleet fuel efficiency flat in 2021 as Detroit Three lag”

WASHINGTON, Dec 12 (Reuters) – United Auto Workers (UAW) President Ray Curry said Monday he is optimistic the union can quickly reach a contract deal with a General Motors (GM.N), LG Energy Solution (373220.KS) battery cell joint venture factory.

Last week, workers at the Ultium Cells LLC plant northeast Ohio overwhelmingly voted to join the UAW, a big win for the union seeking to organize the growing electric vehicle supply chain sector. Continue reading “UAW union president optimistic on quick contract with GM-LG battery venture”

Dec 12 (Reuters) – Automaker Stellantis NV (STLA.MI) said on Monday it will power 70 of its facilities in Michigan entirely with solar energy by 2026 through a partnership with DTE Energy Co (DTE.N), the state’s largest producer of renewable energy.

The partnership is a part of Stellantis’s goal to achieve “carbon net zero globally” by 2038 and comes at a time when businesses are under pressure to cut their environmental impact. Continue reading “Stellantis teams up with Michigan’s DTE to advance renewable energy goals”

WASHINGTON, Dec 12 (Reuters) – The U.S. Senate will aim to vote on a bill to keep the federal government operating for one week past a Friday deadline, as Democrats and Republicans bicker over a longer-term measure likely to spend more than $1.5 trillion, Majority Leader Chuck Schumer said on Monday.

“Over the weekend, appropriators held positive and productive conversations,” Schumer said in a speech to the Senate. Referring to a short-term bill known as a “continuing resolution,” he added, “Later this week members should be prepared to take quick action on a CR, a one-week CR, so we can give appropriators more time to finish a full-funding bill before the holidays.” Continue reading “U.S. Senate aims for stop-gap bill as funding deadline looms, Schumer says”

WASHINGTON, Dec 12 (Reuters) – The U.S. Energy Department said on Monday it had finalized a $2.5 billion low-cost loan to a joint venture of General Motors Co (GM.N) and LG Energy Solution (373220.KS) to help pay for three new lithium-ion battery cell manufacturing facilities.

Reuters first reported in July the planned loan to Ultium Cells LLC from the government’s Advanced Technology Vehicles Manufacturing (ATVM) loan program. Continue reading “U.S. finalizes $2.5 billion loan to GM, LG battery joint venture”

MILAN, Dec 12 (Reuters) – Discussions over new job contracts in Italy for Stellantis (STLA.MI), Ferrari (RACE.MI), CNH Industrial (CNHI.MI) and Iveco (IVG.MI) workers will be extended into January, a union representative said on Monday.

The UILM, FIM-CISL, Fismic, UGLM and AQCF metalworkers’ unions in October started talks to renew four-year contracts expiring at the end of 2022 for most Italian workers at the four groups, all descended from the former Fiat. Continue reading “Italian autos pay talks to run into January – union”

Dec 12 (Reuters) – Mercedes-Benz (MBGn.DE) Vans will invest more than 1 billion euros ($1.05 billion) to build its first electric-only vans plant in Jawor, Poland, pending approval of conditions such as the sign-off of subsidies for its investment, the company said on Monday.

The van maker, a division of Mercedes-Benz, has signed a declaration of intent with the Polish government and other partners to add the van factory to its Jawor site where it makes combustion engines and batteries for Mercedes-Benz Cars. Continue reading “Mercedes-Benz Vans plans first electric-only plant in Jawor”

Dec 12 (Reuters) – Rivian Automotive Inc (RIVN.O) said on Monday it is pausing its joint venture with Mercedes-Benz Vans, just three months after the companies entered a partnership to make electric vans in Europe.

The electric vehicle maker said it will focus on its consumer and existing commercial business as it tries to become cash flow positive in its U.S. operations. Continue reading “Rivian pauses JV plans with Mercedes-Benz to make electric vans in Europe”

HONG KONG, Dec 12 (Reuters) – Zeekr, one of Chinese automaker Geely’s upmarket electric car brands, has confidentially filed for a U.S. initial public offering, aiming to raise more than $1 billion, three sources with direct knowledge of the matter told Reuters.

In what would be the first major Chinese float in the United States in more than a year and a half, Zeekr is seeking a valuation of more than $10 billion, two of the sources said. Continue reading “Exclusive: Zeekr, a premium Geely electric car brand, seeks over $1 billion in U.S. IPO – sources”

MEXICO CITY, Dec 9 (Reuters) – A dispute panel under a regional trade pact has sided with Mexico and Canada against the United States in a disagreement over regional content requirements for the auto sector, Mexico’s presidency said on Friday in a tweet that was later deleted.

“The decision could generate more incentives to generate auto parts in our country,” the tweet said. Continue reading “Trade panel sides with Mexico, Canada in auto rules dispute, Mexico says”

WASHINGTON, Dec 9 (Reuters) – A U.S. auto safety regulator on Friday said it had confirmed a new crash death from a faulty air bag in a Honda (7267.T) car, as it urged owners to get recall repairs completed.

The National Highway Traffic Safety Administration (NHTSA) said it had confirmed that the February death of the driver of a 2002 Honda Accord in Bowling Green, Kentucky, was due to a faulty air bag inflator. Continue reading “U.S. confirms another Honda death from faulty air bag”

WASHINGTON/DETROIT, Dec 9 (Reuters) – Chrysler parent Stellantis (STLA.MI) on Friday said it will indefinitely halt operations at an assembly plant in Illinois in February, citing the rising costs of electric vehicle production.

The automaker, which employs about 1,350 workers at the Belvidere, Illinois, plant that builds the Jeep Cherokee SUV, said the action will result in indefinite layoffs and added it may not resume operations as it considers other options. Continue reading “Stellantis to indefinitely idle Illinois plant, cites EV costs”

WASHINGTON, Dec 9 (Reuters) – Workers at a General Motors-LG Energy (GM.N), (373220.KS) battery cell factory in northeast Ohio overwhelmingly voted to join the United Auto Workers, a big win for the union seeking to organize the growing electric vehicle supply chain sector.

The National Labor Relations Board said hourly employees at the Ultium Cells LLC plant near Cleveland voted 710 to 16 in favor of joining the union. Continue reading “Ohio workers vote for union at GM, LG battery plant”

• Strike disrupted supplies of cars, cement and fuel
• No breakthrough over minimum wage scheme with government
• Businesses were better prepared for truckers’ strike
• Yoon took harder line on second strike in six months -analysts

SEOUL, Dec 9 (Reuters) – South Korean truckers voted to end their strike on Friday as it entered a third week with public support waning and the government refusing to budge, saying the action had caused “astronomical” damage to the economy. Continue reading “South Korean truckers vote to end strike for minimum wage protections”

MEXICO CITY, Dec 9 (Reuters) – A dispute panel under a regional trade pact has sided with Mexico and Canada against the United States in a disagreement over regional content requirements for the auto sector, Mexico’s presidency said on Friday in a tweet that was later deleted.

“The decision could generate more incentives to generate auto parts in our country,” the tweet said. Continue reading “Trade panel sides with Mexico, Canada in auto rules dispute, Mexico says”