Nov 24 (Reuters) – Ford Motor Co (F.N) is recalling 634,000 sport utility vehicles (SUVs) worldwide over fire risks from possible cracked fuel injectors and will urge owners to have their cars inspected, it said on Thursday.

America’s No.2 automaker by sales said the recall covers 2020-2023 model year Bronco Sport and Escape SUVs with 3 cylinder, 1.5 liter engines, including many also recalled in April because an oil separator housing could crack and develop a leak that could cause an engine fire. Vehicles repaired under the earlier recall will still need the new recall fix, the National Highway Traffic Safety Administration said. Continue reading “Ford recalls 634,000 vehicles worldwide over fire risks”

NEW DELHI, Nov 24 (Reuters) – Fiat parent Stellantis (STLA.MI) has concluded it can’t currently make affordable electric vehicles (EVs) in Europe and is looking at lower-cost manufacturing in markets such as India, its chief executive told reporters.

If India, with its low-cost supplier base, is able to meet the company’s quality and cost targets by the end of 2023, it could open the door to exporting EVs to other markets, said Carlos Tavares, CEO of the group whose brands also include Peugeot and Chrysler. Continue reading “Stellantis looks to India for affordable EVs for Europe”

MANILA, Nov 24 (Reuters) – A Philippine inter-agency panel chaired by President Ferdinand Marcos Jr on Thursday approved removing tariffs on electric vehicles (EVs) to spur demand amid high fuel costs.

Marcos will issue an executive order cutting to 0% the most favoured nation tariff on EVs like passengers cars, buses, vans, trucks, motorcycles, and bicycles, and their parts for five years. Current import duties range from 5% to 30%. Continue reading “Philippines to cut tariffs on electric vehicles, parts”

PTI | Electric two-wheeler maker Ather Energy is all set to finalise the location of a third manufacturing plant shortly with plans to make it functional by end of next fiscal to cater to growing demand, according to co-founder Swapnil Jain. The startup which currently sells two electric scooters – 450X and the 450 Plus – expects its current capacity of 4.2 lakh units per annum in Hosur (Tamil Nadu) to get fully utilised by next fiscal end.

Ather formally inaugurated its second plant in Hosur on Wednesday although operations commenced in October. Continue reading “Ather plans to make its third plant operational by next fiscal end”

PTI | New Delhi : Spark Minda group flagship firm Minda Corporation Ltd on Tuesday said it has signed a technology license agreement with LocoNav for white-labelling of telematics software. Under the agreement, LocoNav will be the technology partner for telematic systems to Spark Minda and will provide with a white-labelled software, the auto component maker said in a statement.

White-labelling gives businesses the option to use tracking software with customised branding Continue reading “Minda Corporation signs technology license agreement with LocoNav”

PTI | New Delhi: The Centre’s Department of Science and Technology (DST) and green think tank Centre for Science and Environment (CSE) have collaborated to create a platform that will support the development of new electric vehicle (EV) batteries to suit Indian requirements. A white paper will be prepared on a roadmap to develop new battery technologies in India. This would be followed by the creation of an expert-industry forum or platform to support this process, the CSE said in a statement on Tuesday.

This collaborative initiative was kicked off recently with a round table on locally appropriate EV batteries that are safe, durable and effective within the constraints of a hot and humid tropical climate. Continue reading “Centre collaborates with think tank to push production of EV batteries in India”

PTI | Mumbai: Technology firm Continental on Wednesday inaugurated its Rs 1,000 crore-new campus for its Technical Center India (TCI). Spread over 1 million square feet of space, the campus is located at Bengaluru’s Electronic City Phase |l and can house over 6,500 employees, according to a release.

The new campus houses hi-tech software, hardware, and vehicle test facilities for R&D and a plethora of training centres, with each floor equipped with multiple collaboration areas, it said. Continue reading “Continental inaugurates Rs 1,000 crore-campus for TCl”

PTI | New Delhi: The National Green Tribunal (NGT) has directed the formation of a committee to verify the factual position and ensure remedial action regarding allegations of the National Highways Authority of India (NHAI) violating environmental norms while constructing a highway from the Mukarba chowk to the
Singhu border here. A bench of Chairperson A K Goel noted that according to the petition, the NHAI had failed to comply with environmental obligations while constructing the eight-lane highway.

The bench, also comprising judicial member Justice Arun Kumar Tyagi and expert members Afroz Ahmad and A Senthil Vel, noted that the petition alleges that though the NHAI has claimed that it has planted 1,760 trees, the said plantation was around 20 km away from the location where trees were felled because of the project. Continue reading “Highway construction: NGT forms panel to verify charges of NHAI violating environmental norms”

Nov 23 (Reuters) – U.S. new vehicle retail sales are expected to be relatively flat in November as high vehicle prices, coupled with interest rate increase, are moderating demand, a report from industry consultants J.D. Power-LMC Automotive showed on Wednesday.

Consumers who were willing to shell out more money for cars amid a shortage are now pulling back from spending as higher loan payment pressures affordability. Continue reading “U.S. new vehicle sales to be flat in November amid high interest rate – report”

PARIS, Nov 23 (Reuters) – Stellantis (STLA.MI) is using an abandoned airfield in eastern France to store cars that are ready for delivery but cannot be shipped or kept at its Sochaux factory due to unprecedented logistical issues, two sources told Reuters.

Carmakers across Europe are struggling to make shipments with a lack of truck drivers and a shortage of truck and train capacity under the combined effect of the war in Ukraine and the aftermath of the COVID-19 pandemic. Continue reading “Stellantis stores cars in old French airfield amid delivery logjam – sources”

BEIJING, Nov 23 (Reuters) – Chinese automaker BYD Co Ltd said on Wednesday it raised prices for three of its electric vehicle models by 2,000 yuan ($279.86) to 6,000 yuan, citing reasons including rising battery prices and the scheduled expiration of some state subsidy plans.

BYD (002594.SZ), in a statement published on its official Weibo account, said the national subsidy for some electric and hydro power vehicles will end on Dec. 31, 2022. And the raw material price for batteries has also jumped since the second half of this year, it said. Continue reading “China automaker BYD says raises prices for some EV models”

SEOUL, Nov 23 (Reuters) – Tesla (TSLA.O) chief executive Elon Musk said on Wednesday that South Korea was among its top candidate locations for a factory it plans to build in Asia for making electric vehicles (EVs), according to South Korea’s presidential office.

Musk had made the remark in a video call with President Yoon Suk-yeol, adding that the company planned to step up cooperation with South Korea on supply chains, Yoon’s office said. Continue reading “Elon Musk names S. Korea among top candidates for EV investment – Yoon’s office”

SHANGHAI, Nov 23 (Reuters) – China’s top auto association said on Wednesday it would cancel the second day of the China Automotive Overseas Development Summit that was taking place in Shanghai, citing the deteriorating COVID-19 situation.

The China Association of Automobile Manufacturers made the announcement on their website. The summit started on Tuesday and was due to end on Wednesday. Continue reading “China’s top auto association cancels Shanghai event citing COVID”

BERLIN, Nov 22 (Reuters) – Volkswagen (VOWG_p.DE) expects sales in China to stagnate at about 3.3 million vehicles in 2022, its China chief told Handelsblatt on Tuesday, as it struggles to make up the impact of coronavirus lockdowns and chip shortages in the first half.

The carmaker had previously forecast sales of 3.85 million vehicles this year, on par with 2020, but adjusted its expectations in the middle of the year, Ralf Brandstaetter told the German daily. Continue reading “Volkswagen sees China sales on par with 2021 as lockdown impact lingers – Handelsblatt”

TOKYO, Nov 22 (Reuters) – Japan’s Mazda Motor Corp (7261.T) on Tuesday unveiled a $10.6 billion spending plan to electrify its vehicles and said it was also considering investing in battery production.

The company also raised its sales target for electric vehicles (EVs) to up to 40% of its total global sales by 2030, as automakers worldwide spend billions of dollars to ramp up battery and EV production in the face of tougher environmental regulations. Continue reading “Mazda unveils $11 bln EV spending plan, considers investing in battery production”

HONG KONG, Nov 22 (Reuters) – Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 3.23 million Hong Kong-listed shares of electric vehicle maker BYD (002594.SZ) for HK$630.33 million ($80.67 million), a stock exchange filing showed.

The sale lowered Berkshire’s holdings in BYD’s total issued H-shares to 15.99% on Nov. 17, down from 16.28%, a filing to the Hong Kong Stock Exchange showed on Tuesday. Continue reading “Berkshire Hathaway sells $80.7 mln of shares in China’s BYD”

LONDON, Nov 22 (Reuters) – Global shares rose on Tuesday, recovering some of the previous day’s losses, as improved investor risk appetite drove flows into equities and commodities, although concern over more COVID infections in China kept gains in check.

The Federal Reserve will release the minutes from its most recent meeting on Wednesday, which investors will scour for insight into policymakers’ views on the outlook for inflation and economic growth. Continue reading “Shares brush off China COVID curbs, dollar retreats”

PARIS, Nov 21 (Reuters) – French President Emmanuel Macron on Monday will host a dinner with a number of European chief executives to convince them not to move production to the United States, where lower energy prices and the Inflation Reduction Act is proving a lure.

European leaders have been alarmed by massive anti-inflation measures passed by Joe Biden’s administration, which make tax breaks conditional on U.S-manufactured content and which EU industries say make investment in Europe less competitive. Continue reading “Macron hosts European CEOs to counter US move temptation”

SOLIHULL, England, Nov 21 (Reuters) – Chinese electric vehicle (EV) makers have set their sights on winning over European drivers and large corporate customers with more affordable cars that come with top safety ratings and lots of high-tech features.

In the last few months, several Chinese EVs have received five-star European New Car Assessment Programme (NCAP) ratings – an achievement that requires loading vehicles with active and passive safety features that go well beyond legal requirements. Continue reading “Chinese carmakers target more European sales with five-star EVs”

WASHINGTON/LOS ANGELES, Nov 21 (Reuters) – Workers at the largest U.S. rail union voted against a tentative contract deal reached in September raising the possibility of a strike in the coming weeks that could cause significant damage to the U.S. economy.

Train and engine service members of the transportation division of the International Association of Sheet Metal, Air, Rail, and Transportation Workers (SMART-TD) narrowly voted to reject the deal, while members of the Brotherhood of Locomotive Engineers and Trainmen (BLET) voted to ratify the agreement and SMART-TD yardmasters voted to ratify their national agreement, the unions said Monday. Continue reading “Largest U.S. rail labor union votes against contract, raising strike possibility”

SOLIHULL, England, Nov 21 (Reuters) – Chinese electric vehicle (EV) makers have set their sights on winning over European drivers and large corporate customers with more affordable cars that come with top safety ratings and lots of high-tech features.

In the last few months, several Chinese EVs have received five-star European New Car Assessment Programme (NCAP) ratings – an achievement that requires loading vehicles with active and passive safety features that go well beyond legal requirements. Continue reading “Chinese carmakers target more European sales with five-star EVs”

WASHINGTON, Nov 19 (Reuters) – Tesla is recalling more than 321,000 vehicles in the United States because tail lights may intermittently fail to illuminate, the company said in a filing made public Saturday.

The news follows the company’s recall on Friday of nearly 30,000 Model X cars in the United States over an issue that may cause the front passenger air bag to deploy incorrectly, which sent its shares down almost 3% to a near two-year low. Continue reading “Tesla recalls 321,000 U.S. vehicles over rear light issue”

Nov 18 (Reuters) – Autonomous delivery vehicle maker Nuro is laying off about 20% of its workforce after admitting that rapid hiring in the past year was a mistake, the company’s co-founders wrote in an email to employees on Friday.

“Laying off team members is always the last resort, but unfortunately it was needed after other options were exhausted,” the email said. Continue reading “U.S. autonomous delivery vehicle startup Nuro cuts staff by 20%”

Nov 18 (Reuters) – Carvana Co (CVNA.N) on Friday announced another round of job cuts that will impact about 1,500 employees, or 8% of its workforce, as it attempts to cut costs amid waning demand for used cars on the back of rising interest rates.

The company’s chief executive officer, Ernie Garcia, said in an internal memo obtained by CNBC that the company faced economic headwinds from higher financing costs. Continue reading “Carvana cuts 8% of workforce on slowing used-car demand”

LONDON, Nov 18 (Reuters) – Laid off tech workers could find new jobs at Jaguar Land Rover (JLR) as the 100-year-old British automaker looks to hire hundreds of engineers to help develop electric cars.

JLR, which is owned by India’s Tata Motors (TAMO.NS), on Friday announced a jobs portal for displaced tech workers to fill 800 roles spanning self-driving, electrification, machine learning and data science. Continue reading “Jaguar Land Rover turns to laid-off tech workers for EV skills”

SEOUL, Nov 21 (Reuters) – In an upscale Seoul neighbourhood two years ago, a white Tesla Model X smashed into a parking lot wall. The fiery crash killed a prominent lawyer – a close friend of South Korea’s president.

Prosecutors have charged the driver with involuntary manslaughter. He blames Tesla. Continue reading “Tesla safety at centre of South Korean trial over fiery, fatal crash”

Nov 18 (Reuters) – Elon Musk started a Twitter poll late on Friday asking followers to vote on whether to reinstate former U.S. President Donald Trump’s account on the platform, with early results showing roughly 60% voting yes.

“Vox Populi, Vox Dei,” Musk tweeted, a Latin phrase that roughly means meaning “the voice of the people is the voice of God.” The poll was open for 24 hours. Continue reading “Elon Musk starts Twitter poll on whether to bring back Trump”

Nov 18 (Reuters) – Carvana Co (CVNA.N) on Friday announced another round of job cuts that will impact about 1,500 employees, or 8% of its workforce, as it attempts to cut costs amid waning demand for used cars on the back of rising interest rates.

The company’s chief executive officer, Ernie Garcia, said in an internal memo obtained by CNBC that the company faced economic headwinds from higher financing costs. Continue reading “Carvana cuts 8% of workforce on slowing used-car demand”

WASHINGTON, Nov 18 (Reuters) – German automaker Mercedes Benz and auto supplier Robert Bosch LLC (BOSH.NS) have agreed to pay a total of about $6 million to resolve a lawsuit over diesel advertising claims, the U.S. state of Arizona said on Friday.

Under the proposed settlement, Mercedes Benz will pay $2.8 million in consumer restitution, and each qualifying Arizona consumer will receive up to $625 per vehicle, Arizona Attorney General Mark Brnovich said. Continue reading “Mercedes Benz to pay $5.5 million to settle Arizona diesel ad case”

BERLIN, Nov 18 (Reuters) – A manual transmission plant owned by Volkswagen’s (VOWG_p.DE) joint venture with SAIC Motors (600104.SS) will close next March, the carmaker said on Friday.

The news was communicated to staff this week in a letter published in local media, marking the latest step in the joint venture’s winding down of production of manual cars because Chinese customers favour automatic vehicles. Continue reading “Volkswagen-SAIC venture to close manual transmission plant in China”

LONDON, Nov 18 (Reuters) – Laid off tech workers could find new jobs at Jaguar Land Rover (JLR) as the 100-year-old British automaker looks to hire hundreds of engineers to help develop electric cars.

JLR, which is owned by India’s Tata Motors (TAMO.NS), on Friday announced a jobs portal for displaced tech workers to fill 800 roles spanning self-driving, electrification, machine learning and data science. Continue reading “Jaguar Land Rover turns to laid-off tech workers for EV skills”

WASHINGTON, Nov 18 (Reuters) – Tesla Inc (TSLA.O) recalled nearly 30,000 Model X cars in the United States over an issue that may cause the front passenger air bag to deploy incorrectly, sending its shares down nearly 3% on Friday to their lowest in nearly two years.

The air bag could deploy incorrectly in certain low-speed collision events where a young front seat passenger is unbelted and out of position, increasing the risk of injury, the company said in a filing with U.S. regulators. Continue reading “Tesla recalls 30,000 Model X cars, shares hit two-year low”

FRANKFURT/HAMBURG, Nov 18 (Reuters) – German carmaker Volkswagen (VOWG_p.DE) is holding discussions with investors to join its battery division ahead of a possible partial initial public offering (IPO) of the subsidiary, two people familiar with the matter told Reuters.

The idea is to bring in investors pre-IPO so Volkswagen can gauge how the division – named PowerCo – might be valued in a potential flotation, the sources said, adding that Volkswagen is working with advisers on a potential deal structure. Continue reading “Volkswagen in talks with pre-IPO investors for battery unit – sources”

TOKYO, Nov 18 (Reuters) – Japanese electric motor maker Nidec Corp (6594.T) is planning to invest about $715 million to build a plant in Mexico to make electric car motors, its chief executive said in an interview with the Nikkei newspaper published on Friday.

Construction is expected to begin during or after the next business year starting in April, the newspaper said. Continue reading “Japanese electric motor maker Nidec to build $715 mln Mexican plant”

PARIS, Nov 18 (Reuters) – Moody’s Investors Service said on Friday it changed the outlook on French carmaker Renault’s ratings to stable from negative to reflect prospects of improved profitability from its strategic plan.

“The outlook change to stable reflects Renault’s improved profitability in the first half of 2022, and the expectation of further improvements driven by the execution of the strategic plan Renaulution,” Matthias Heck, a Moody’s vice president senior credit officer and lead analyst for Renault said in a statement. Continue reading “Moody’s changes Renault’s outlook to “stable” from “negative””

HANOI, Nov 18 (Reuters) – Vietnam’s electric vehicle maker VinFast said on Thursday it has struck a deal with U.S. car subscription service Autonomy to supply more than 2,500 units, its largest corporate order to date, as part of a plan to expand further in the market.

VinFast, which ceased production of gasoline-powered cars in August, is gearing up to get a bite of the U.S. market, where it hopes to compete with legacy automakers and deliver its first batch of 5,000 all-electric sport utility vehicles this December. Continue reading “Vietnamese EV maker VinFast to supply 2,500 units to U.S. car subscription service Autonomy”

WASHINGTON, Nov 17 (Reuters) – U.S. Trade Representative Katherine Tai and Japanese industry minister Yasutoshi Nishimura discussed new U.S. electric vehicle tax credits during a meeting on the sidelines of a summit in Bangkok, Tai’s office said on Thursday.

During their meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, Tai “also raised the status of the U.S.-Japan beef safeguard agreement and Japan’s ongoing review of its on-road ethanol use targets,” her office said in a statement. Continue reading “Top U.S., Japanese trade officials discuss electric vehicle tax credits -U.S. statement”

Nov 17 (Reuters) – General Motors Co (GM.N) aims to slash the cost of electric vehicle battery cells and has added Vale to its growing roster of battery material suppliers as the automaker girds for increasing EV competition beyond 2025, GM said on Thursday.

Brazilian mining giant Vale SA (VALE3.SA) will supply GM with battery-grade nickel for future electric vehicles, starting in 2026, GM executive Doug Parks said on Thursday. Continue reading “GM aims to lower EV battery cost, locks up supply deal with Vale”

DETROIT, Nov 17 (Reuters) – General Motors Co (GM.N) expects its electric vehicles will make money in 2025, with recently enacted federal subsidies plugging the profitability gap between EVs and GM’s combustion fleet, Chief Executive Mary Barra said Thursday.

Federal subsidies could add $3,500 to $5,500 a vehicle to pre-tax profits for GM electric vehicles, CFO Paul Jacobson said during a call ahead of a presentation to investors in New York. GM expects pre-tax profits for EVs could reach “low to mid-single digits” in 2025, not including federal subsidies from the Inflation Reduction Act. Continue reading “GM promises profitable EVs, with a boost from Washington”

WASHINGTON, Nov 17 (Reuters) – The United States aims to only sell and produce zero-emissions medium- and heavy-duty vehicles like school buses and tractor trailers by 2040, the U.S. energy secretary agreed at the COP27 climate summit in Egypt on Thursday.

The non-binding memorandum of understanding (MOU) sets a target for 30% of those new vehicles – which include commercial delivery vehicles, buses and trucks – to be zero-emission by 2030 and 100% by 2040. Continue reading “U.S. aims for zero-emissions heavy-duty vehicles by 2040”