STOCKHOLM, Dec 2 (Reuters) – Sweden-based Volvo Car AB (VOLCARb.ST) said on Friday its sales grew 12% year-on-year in November to 59,154 cars.
“Overall underlying demand for the company’s cars continues to remain robust, especially for its Recharge range of pure electric and plug-in hybrid cars,” it said in a statement. Continue reading “Volvo Cars’ sales growth accelerates to 12% in November”
SHANGHAI, Dec 2 (Reuters) – China Evergrande Group’s electric vehicle unit has suspended mass production of its only model due to a lack of new orders, two people with knowledge of the matter said, in the latest set of troubles facing the indebted property developer.
China Evergrande New Energy Vehicle Group (0708.HK) said in mid-September that it had started mass production of the Hengchi 5 model at a plant in the northern city of Tianjin and in late October said it had delivered its first 100 cars. Continue reading “Evergrande’s EV unit suspends mass production due to lack of orders – sources”
Dec 1 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk delivered the company’s first heavy-duty Semi on Thursday to PepsiCo (PEP.O) without offering updated forecasts for the truck’s pricing, production plans or how much cargo it could haul.
Continue reading “Musk delivers first Tesla truck, but no update on output, pricing”
Dec 1 (Reuters) – The Biden administration on Thursday proposed an overhaul of the nation’s biofuel policy that would for the first time allow electric vehicle manufacturers to tap into a lucrative market for tradable renewable fuels credits.
The proposal, unveiled by the U.S. Environmental Protection Agency, reflects President Joe Biden’s broader agenda to decarbonize the economy to fight climate change, and could provide a big new revenue stream for green cars and trucks. Continue reading “Factbox: How a revamped U.S. biofuel program could help electric vehicle makers”
LONDON, Dec 1 (Reuters) – German carmaker BMW (BMWG.DE) has invested in Jetti Resources, which has technology to extract more copper from low-grade resources and produce metal with a low carbon footprint, BMW said on Thursday.
BMW and other automakers are forging deals to ensure supply of copper and other critical raw materials that may see shortages in coming years as demand soars for a planned surge in electric vehicle production. Continue reading “BMW invests in low carbon copper firm Jetti”
BERLIN, Dec 1 (Reuters) – Volkswagen (VOWG_p.DE) and its battery subsidiary PowerCo SE have begun searching for a site for the carmaker’s first battery cell factory in North America, a company source told Reuters on Thursday.
The source said Canada was “a logical option” for the plant, which would be VW’s first gigafactory outside Europe. Continue reading “VW eyes Canada in search for first North America cell plant – source”
HALEWOOD, England, Dec 1 (Reuters) – Ford Motor Co (F.N) will invest an extra 149 million pounds ($180 million) to boost output of electric vehicle (EV) power units by 70% at its engine factory in northern England as the U.S. carmaker accelerates its push to go electric.
Electric drive unit production capacity at the Halewood plant will increase to 420,000 units a year, from 250,000 units, starting in 2024, the Detroit-based carmaker said on Thursday. Continue reading “Ford to boost EV parts investment for UK plant by $180 mln”
SHANGHAI, Dec 1 (Reuters) – Tesla Inc (TSLA.O) will issue software updates for more than 435,000 vehicles in China to fix an issue with side marker lights that could in extreme circumstances lead to a collision, a regulatory body said.
The fix, which counts as a recall, will be issued by an over-the-air update. Continue reading “Tesla to issue software updates for 435,000 cars in China over marker light issue”
SHANGHAI, Dec 1 (Reuters) – Tesla (TSLA.O) will recall a total of 435,132 units of China-made Model 3 and Model Y cars in China due to software faults, the country’s market regulator said on Thursday.
The U.S. automaker will recall 142,277 Model 3 cars and 292,855 Model Ys as the clearance lamps in some of these cars could fail to work due to software errors, leading to collision risks under extreme circumstances, according to a statement by the State Administration for Market Regulator. Continue reading “Tesla to recall 435,000 China-made Model 3, Model Y cars in China -regulator”
DETROIT, Nov 30 (Reuters) – Cruise, General Motors Co’s (GM.N) robotaxi unit, plans to enter a “large number of markets” and scale operations up to “thousands of vehicles” in 2023, Chief Operating Officer Gil West told Reuters.
Cruise has announced plans to start offering rides in Austin and Phoenix, adding those cities to its current base in San Francisco. West said the company plans to expand to more cities in 2023. Continue reading “GM’s Cruise plans to enter ‘a large number of markets’ in 2023”
DETROIT, Nov 30 (Reuters) – Cruise, General Motors Co’s (GM.N) robotaxi unit, plans to enter a “large number of markets” and scale operations up to “thousands of vehicles” in 2023, Chief Operating Officer Gil West told Reuters.
Cruise has announced plans to start offering rides in Austin and Phoenix, adding those cities to its current base in San Francisco. West said the company plans to expand to more cities in 2023. Continue reading “GM’s Cruise plans to enter ‘a large number of markets’ in 2023”
PARIS, Nov 30 (Reuters) – French President Emmanuel Macron will use a state visit to Washington this week to press European Union concerns about the United States’ huge new green energy subsidy package.
While EU countries welcome the new commitment to energy transition, they fear the $430 billion Inflation Reduction Act will put their companies at an unfair disadvantage. Continue reading “Explainer: Why the U.S. Inflation Reduction Act has Europe up in arms”
TOKYO, Dec 1 (Reuters) – Honda (7267.T) said it would develop technology enabling its level 3 self-driving capability to function at any speed below legal limits on highways by the second half of the 2020s as it strives to eliminate traffic deaths involving its vehicles.
Honda Motor Co Ltd in March 2021 became the world’s first carmaker to sell a vehicle with level 3 self-driving technology. Continue reading “Honda to develop advanced level 3 self-driving technology by 2029”
WARWICK, England, Nov 30 (Reuters) – The joint venture between Croatian electric carmaker Rimac and Bugatti has been far more profitable than anticipated as the two brands work on developing vehicles together under one roof, Rimac’s top executive said on Wednesday.
“It’s highly profitable and cash flow positive beyond anybody’s expectations,” Rimac CEO Mate Rimac told Reuters in an interview at the UK offices of the carmaker’s Rimac Technology unit in Warwick. “It’s such a win-win situation for everybody.” Continue reading “Bugatti joint venture profitable “beyond expectations” – Rimac CEO”
SHANGHAI, Nov 30 (Reuters) – BYD was the top-selling car brand in China in the first four weeks of November, brokerage data showed, outperforming the Volkswagen brand in a reversal that highlights the pressure on legacy brands in the world’s largest auto market.
Tesla’s (TSLA.O) retail sales in China also nearly doubled in November, from a year earlier, after the U.S. automaker cut prices and offered incentives on its Model 3 and Model Y, the data from China Merchants Bank International (CMBI) showed. Continue reading “BYD set to be China’s top-selling car brand for Nov, Tesla gains -data”
TOKYO, Nov 30 (Reuters) – Mazda Motor Corp (7261.T) does not expect to have problems maintaining production in Japan for the time being despite COVID lockdowns in China as the automaker has sufficient inventories of parts, a company executive said on Wednesday.
A draconian two-month lockdown in Shanghai earlier this year forced the Hiroshima-based automaker to suspend production for 11 days at its two domestic plants due to a lack of parts. Continue reading “Mazda sees no impact on Japan vehicle production from current China lockdowns”
TOKYO, Nov 30 (Reuters) – Japan’s Nissan Motor Co (7201.T) has signed a 200-billion-yen ($1.44 billion) green loan agreement to fund zero-emission mobility investments, the automaker said on Wednesday.
The syndicated loan was arranged by Mizuho Bank and MUFG Bank with contract periods of five and seven years, it said in a statement. Continue reading “Nissan gets $1.44 bln green loan for zero-emission mobility investments”
TOKYO, Nov 30 (Reuters) – Japan’s factory output fell for a second consecutive month in October, as stalling global demand and lingering supply bottlenecks put a lid on Japanese manufacturers’ production plans. Continue reading “Japan’s Oct factory output falls again on global slowdown, weak chip demand”
MEXICO CITY, Nov 29 (Reuters) – Chinese electric-vehicle maker BYD said on Tuesday it will launch its cars in Mexico next year, with a senior executive pegging its sales target at up to 30,000 vehicles in 2024.
Next year, BYD will begin selling fully electric versions of its Tang sport utility vehicle (SUV) alongside its Han sedan through eight dealers across Mexico, the company’s country head Zhou Zou told Reuters ahead of the announcement. Continue reading “China’s BYD to sell EVs in Mexico in 2023, aims for up to 30,000 sales in 2024”
PARIS, Nov 29 (Reuters) – Renault’s (RENA.PA) chairman on Tuesday told Reuters on Tuesday he was “confident” the French carmaker will reach an agreement with its Japanese partner Nissan (7201.T) on the future of their alliance.
Ongoing talks between Renault and Nissan about their alliance could prompt the biggest reset in the tie-up since the 2018 arrest of longtime executive Carlos Ghosn, but it still has to be confirmed how they play out. Continue reading “Renault chairman says confident of reaching deal with Nissan on future of alliance”
SEOUL, Nov 29 (Reuters) – South Korea’s Hyundai Motor Group has signed an agreement to source electric vehicle (EV) batteries in North America from battery maker SK On, the companies said on Tuesday.
The partnership follows the signing in August of the U.S. Inflation Reduction Act, which will require automakers to source a certain percentage of critical minerals for their EV batteries from the United States or a U.S. free-trade partner to qualify for new U.S. EV tax credits. Continue reading “Hyundai Motor, SK On sign EV battery supply pact for N. America”
TOKYO, Nov 29 (Reuters) – Toyota Motor Corp (7203.T) reported on Tuesday a 23% rise in October global vehicle output, beating its own target for a third month in a row, as the industry strives to get past persistent chip shortages that have hobbled production.
The Japanese automaker produced 771,382 vehicles globally in October, above a downgraded target of 750,000 units and up 23% from the same month a year earlier. Continue reading “Toyota’s Oct global vehicle production up 23%, above its target”
Nov 28 (Reuters) – Electric-vehicle startup Faraday Future Intelligent Electric (FFIE.O) said on Monday it has appointed Xuefeng Chen as global chief executive officer, sending shares up 1.4% in extended trading.
Chen, who was most recently the CEO of the company’s China division and has spent nearly two decades in the automotive industry, succeeds Carsten Breitfeld, who was removed from the role by the board, the company added in a filing. Continue reading “Faraday Future appoints Xuefeng Chen as global CEO”
SEOUL, Nov 29 (Reuters) – South Korea will offer “tailored” incentives to encourage Tesla to set up an electric vehicle gigafactory in the country and will minimise any risks posed by militant unions, President Yoon Suk-yeol told Reuters.
Yoon held a video call with Tesla Chief Executive Elon Musk last week and Yoon’s office cited Musk as saying South Korea is among the top candidate locations for a new Tesla factory. Continue reading “Exclusive: South Korea’s Yoon ready to offer ‘tailored’ benefits to attract Tesla gigafactory”
BERLIN, Nov 28 (Reuters) – Building a lithium-ion battery factory in Germany, Europe’s top car producer, had seemed like a no-brainer for Northvolt. But a new U.S. law offering hefty subsidies to local manufacturers of green technology has given the company pause for thought.
Continue reading “Analysis: U.S. green subsidies heighten fears for German industry”
Nov 28 (Reuters) – Tesla (TSLA.O) is developing a revamped version of Model 3, according to four people with knowledge of the effort, as the top EV maker aims to cut production costs and boost the appeal of the five-year-old electric sedan.
One focus of the redesign codenamed “Highland” is to reduce the number of components and complexity in the interior of the Model 3 while focusing on features that Tesla buyers value, including the display, according to the people, who asked not to be named because the revamp has not been announced. Continue reading “Exclusive: Tesla readies revamped Model 3 with project ‘Highland’ -sources”
Continue reading “Who’s next? Chinese EVs drive Stellantis’ Jeep off the road”
SEOUL, Nov 28 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) and LG Energy Solution Ltd (LGES) (373220.KS) are considering building two joint venture battery plants in the United States, a local online news outlet reported on Monday.
Under the contemplated plan, the plants would be built in Georgia and each have an annual capacity of about 35 gigawatt hours (GWh), enough to power about 1 million electric vehicles (EVs), said the news service, Dailian, citing an unnamed source. Continue reading “Hyundai Motor, LGES consider building two JV battery plants in U.S. -report”
SEOUL, Nov 28 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) and LG Energy Solution Ltd (LGES) (373220.KS) are considering building two joint venture battery plants in the United States, a local online news outlet reported on Monday.
Under the contemplated plan, the plants would be built in Georgia and each have an annual capacity of about 35 gigawatt hours (GWh), enough to power about 1 million electric vehicles (EVs), said the news service, Dailian, citing an unnamed source. Continue reading “Hyundai Motor, LGES consider building two JV battery plants in U.S. -report”
FRANKFURT, Nov 27 (Reuters) – French bank Credit Agricole (CAGR.PA) is weighing plans to offer car-sharing financial services in Germany because the growing market offers opportunities to challenge incumbent players, an executive told trade publication Automobilwoche.
The French bank’s consumer finance arm has been in a push to increase mobility-related revenues from its car leasing joint venture with Stellantis and other partnerships as well as from its existing car financing and car rental services. Continue reading “Credit Agricole is weighing foray into German car-sharing: media report”
MEXICO CITY, Nov 25 (Reuters) – A decision should be made very soon on a dispute pitting Canada and Mexico against the United States on the interpretation of regional trade rules in the auto industry, Canada Minister of International Trade Mary Ng said on Friday.
Canada this year joined Mexico in a complaint against the United States over how to apply automotive sector content requirements under the United States-Mexico-Canada (USMCA) free trade agreement, which came into effect in 2020. Continue reading “Decision on North American auto rules dispute ‘imminent’, Canada says”
BRUSSELS, Nov 25 (Reuters) – European Union ministers warned on Friday that time was running out to change Washington’s plans to grant consumer tax credits for U.S.-produced electric vehicles and other green products.
The EU argues the $430 billion Inflation Reduction Act, to take effect in January, could make the United States a world leader in the electric vehicle market at Europe’s expense. It wants an exception to be made for EU products, as has already been agreed for Canadian and Mexican goods. Continue reading “EU demands rapid fix from U.S. to green subsidy law”
MEXICO CITY, Nov 25 (Reuters) – A decision should be made very soon on a dispute pitting Canada and Mexico against the United States on the interpretation of regional trade rules in the auto industry, Canada Minister of International Trade Mary Ng said on Friday.
Canada this year joined Mexico in a complaint against the United States over how to apply automotive sector content requirements under the United States-Mexico-Canada (USMCA) free trade agreement, which came into effect in 2020. Continue reading “Decision on North American auto rules dispute ‘imminent’, Canada says”
BRUSSELS, Nov 25 (Reuters) – European Union ministers warned on Friday that time was running out to change Washington’s plans to grant consumer tax credits for U.S.-produced electric vehicles and other green products.
The EU argues the $430 billion Inflation Reduction Act, to take effect in January, could make the United States a world leader in the electric vehicle market at Europe’s expense. It wants an exception to be made for EU products, as has already been agreed for Canadian and Mexican goods. Continue reading “EU demands rapid fix from U.S. to green subsidy law”
SEOUL, Nov 25 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) and SK On plan to invest about 2.5 trillion won ($1.88 billion) to build a new joint venture battery factory in the United States, the Korea Economic Newspaper reported on Friday.
Hyundai Motor and SK On, the battery unit of energy group SK Innovation Co Ltd (096770.KS), are expected to sign a memorandum of understanding on the investment next week, the newspaper said, citing unidentified auto and battery sources. Continue reading “Hyundai Motor and SK On to build $1.9 bln JV battery plant in U.S. -report”
BRUSSELS, Nov 25 (Reuters) – European Union ministers warned on Friday that time was running out to resolve differences with Washington over U.S. plans to give tax credits to consumers buying electric vehicles and other green products as long as they are made in North America.
The EU argues the $430 billion Inflation Reduction Act, to take effect in January, will make the United States a world leader in the electric vehicle market at its expense. Continue reading “EU demands quick fix from U.S. of green subsidy law”
SEOUL, Nov 25 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) and SK On plan to invest about 2.5 trillion won ($1.88 billion) to build a new joint venture battery factory in the United States, the Korea Economic Newspaper reported on Friday.
Hyundai Motor and SK On, the battery unit of energy group SK Innovation Co Ltd (096770.KS), are expected to sign a memorandum of understanding on the investment next week, the newspaper said, citing unidentified auto and battery sources. Continue reading “Hyundai Motor and SK On to build $1.9 bln JV battery plant in U.S. -report”
HAI PHONG, Vietnam, Nov 25 (Reuters) – Vietnam’s electric vehicle maker VinFast said on Friday it had shipped its first batch of 999 cars to the United States, capping a five-year bid to develop an auto production hub in the Southeast Asian country for markets in North America and Europe.
The first cars are expected to be handed over to customers by the end of December, the company said. Continue reading “Vietnam’s VinFast ships first electric vehicles to U.S. customers”
MILAN, Nov 24 (Reuters) – Franco-Italian carmaker Stellantis (STLA.MI) said on Thursday it would reorganise its European dealers’ network in July next year, starting from Austria, Belgium, Luxembourg and the Netherlands.
“The rest of Europe will progressively follow in the implementation of the new distribution scheme”, the group born from the merger of Fiat Chrysler and France’s PSA said in a statement. Continue reading “Stellantis to reorganise European dealer network from July 2023”
Nov 24 (Reuters) – Tesla Inc’s (TSLA.O) Full Self-Driving Beta software is now available to everyone in North America, Elon Musk said early on Thursday, as the automaker awaits regulatory approval for its cars to be driven without human oversight.
“Tesla Full Self-Driving Beta is now available to anyone in North America who requests it from the car screen, assuming you have bought this option,” Musk tweeted. Continue reading “Tesla’s Full Self-Driving Beta now available to all in N. America, Musk says”
