MOSCOW, Dec 17 (Reuters) – Russia’s largest truckmaker Kamaz (KMAZ.MM) is considering bringing in prisoners to work at its largest factories to compensate for a workforce deficit, CEO Sergei Kogogin said on Friday.
“We are assessing how to apply the (work) programme developed by the Federal Penitentiary Service,” Kogogin told reporters. Continue reading “Russian truckmaker Kamaz looks to prisons to plug workforce deficit”
MILAN, Dec 17 (Reuters) – Carmaker Stellantis is in exclusive talks with BNP Paribas (BNPP.PA), Credit Agricole (CAGR.PA) and Santander (SAN.MC) over the reorganisation of its leasing and financing operations in Europe, it said on Friday.
The group plans to create a 50-50 long-term leasing company with Credit Agricole Consumer Finance, and to reorganise its financing activities through exclusive joint ventures with BNP Paribas Personal Finance and Santander Consumer Finance. Continue reading “Carmaker Stellantis reshuffles European financing operations”
NEW DELHI, Dec 15 (Reuters) – India has approved a $10 billion incentive plan to attract semiconductor and display manufacturers, its technology minister said on Wednesday, as part of a deepening push to establish the country as a global electronics production hub.
Under the plan, India’s government will extend fiscal support of up to 50% of a project’s cost to eligible display and semiconductor fabricators, the government said in a statement. Continue reading “India outlines $10 bln plan to woo global chip makers”
TOKYO, Dec 16 (Reuters) – Nissan Motor Co Ltd (7201.T) plans to build new battery recycling factories in the United States and Europe by the end of fiscal 2025, the daily Nikkei reported on Thursday.
Nissan hopes that recycling batteries and re-using them in electric vehicles (EVs) would help lower production costs as the price of rare metals rise, Nikkei said. Continue reading “Nissan to build new battery recycling factories in U.S., Europe by 2025 -Nikkei”
BERLIN, Dec 16 (Reuters) – Volkswagen (VOWG_p.DE) expects to produce even fewer cars in 2022 than this year due to ongoing semiconductor supply troubles, Manager Magazin reported on Thursday, citing people familiar with the matter.
The carmaker, which reduced its forecast for 2021 vehicle deliveries last week to 9 million from 9.3 million, is preparing for the possibility that the current chips shortage could last until at least early 2023, the report said. Continue reading “Volkswagen to produce even fewer cars in 2022 than this year – Manager Magazin”
Dec 15 (Reuters) – Aurora Innovation Inc (AUR.O) on Wednesday said it had launched a pilot program with the freight unit of Uber Technologies Inc (UBER.N) to transport goods in Texas and to integrate autonomous trucking into Uber Freight’s shipping platform.
Aurora said it began autonomously transporting loads for Uber Freight customers between Dallas and Houston last week. The company plans to launch its commercial autonomous trucking business by the end of 2023, starting in Texas. read more Continue reading “Self-driving truck company Aurora launches pilot with Uber Freight”
MG Motor India on Thursday has announced the launch of non-fungible token (NFT). With this, the British automobile brand becomes the first carmaker in India to launch NFTs. As the carmaker claims, fund collected from the brand’s inaugural NFT collection will go towards community service.
MG Mortor India will start selling the NFTs from 28th December, 2021. The carmaker will introduce 1,111 units of digital creatives as part of the launch collection. MG Motor India will introduce its maiden NFT on KoineArth’s NgageN platform that has been especially customised for MG’ transactions. Continue reading “MG becomes first carmaker in India to launch NFTs”
TVS Motor Company Joint Managing Director M Sudarshan Venu announced on December 15 that the brand will be extending its partnership with BMW Motorrad to co-develop “new platforms and future technologies”, chiefly electric vehicles. According to TVS Motor, the brand will be tasked with “designing and developing future BMW Motorrad products and delivering world-class quality, supply chain management”, among other things.
The two brands entered a long-term strategic partnership in 2013 with the aim of manufacturing entry-level performance motorcycles in the sub-500cc category. The BMW G310 R and its ADV counterpart – the 310 GS – were the first two products to emerge from this partnership. The powertrain was shared with the TVS Apache RR310, a fully-faired entry-level performance motorcycle, which consistently outsold its BMW-badged counterpart due to its lower pricing. Continue reading “TVS Motor and BMW Motorrad to co-develop electric two-wheelers”
Gurpratap Boparai, the managing director of Skoda Auto Volkswagen India Private Limited (SAVWIPL) has stepped down from his position. Christian Cahn von Seelen, the chairman of the company, will take interim charge of the role from January 1, 2022.
Gurpratap Boparai joined Skoda Auto as the managing director in April 2018. He was subsequently promoted to the post of managing director of the three VW entities – Skoda Auto, Volkswagen Auto, and Volkswagen Sales that year itself. Overall, he was overlooking all of the VW Group’s brands in India, including Skoda, Volkswagen, Audi, Porsche and Lamborghini. Continue reading “Skoda Auto Volkswagen India Managing Director Gurpratap Boparai Steps Down”
SAN FRANCISCO, Dec 13 (Reuters) – A California regulator on Monday said it has suspended a driverless testing permit for startup technology firm Pony.ai following an accident – the first time it has issued such a suspension.
On Oct. 28, a Pony.ai vehicle operating in autonomous mode hit a road center divider and a traffic sign in Fremont after turning right, showed the technology firm’s accident report filed with the California Department of Motor Vehicles (DMV). Continue reading “California halts Pony.ai’s driverless testing permit after accident”
MOSCOW, Dec 14 (Reuters) – Russian car-sharing company Delimobil on Tuesday reported an 89% jump in revenue in the third quarter to 3.9 billion roubles ($53 million), and said it was still eyeing a public market listing after postponing its U.S. IPO plans last month.
At least 10 Russian firms could hold IPOs in 2022, extending a listing spree that started a year ago, if their plans are not thwarted by geopolitics, including Ukraine tensions, or other risks, according to bankers and advisers. Continue reading “Russian car-sharing firm Delimobil, still eyeing IPO, reports revenue jump”
SHANGHAI, Dec 14 (Reuters) – WeRide, a China-based autonomous driving startup, said on Tuesday that it had received a strategic investment from Guangzhou Automobile Group (601238.SS) which will deepen their partnership that is focused on developing and making robotaxis.
It did not disclose the size of the investment. The two plan to build a fleet of tens of thousands of robotaxis in the coming years, WeRide said in a statement. Continue reading “China’s WeRide receives strategic investment from GAC Group for robotaxis”
Dec 14 (Reuters) – Electric vehicle leasing startup Hive Technologies Inc said on Tuesday it closed a $30 million funding round to expand its fleet for ride-hail drivers who can otherwise not afford the vehicles’ higher upfront costs.
Backed by environmental, social and governance (ESG)-focused investors, the company leases EVs to Uber Technologies Inc (UBER.N) and Lyft Inc (LYFT.O) drivers on a per-mile cost basis offering a potentially cheaper option than taking out a loan to buy a new EV. Continue reading “EV ride-hail leasing company Hive raises $30 mln in funding round”
TOKYO, Dec 14 (Reuters) – Toyota Motor Corp (7203.T) on Tuesday committed 8 trillion yen ($70 billion) to electrify its automobiles by 2030, half of it to develop a battery electric vehicle (BEV) line-up, as it looks to tap a growing market for zero-emission cars.
But the world’s biggest carmaker, which is a relative latecomer to full electric cars, said it expected annual BEVs sales to reach only 3.5 million vehicles by the end of the decade, or around a third of its current vehicle sales. Continue reading “Toyota commits $70 bln to bolster electrification, shares rally”
PARIS, Dec 14 (Reuters) – Leading Paris taxi company G7 has suspended the use of Tesla (TSLA.O) Model 3 cars in its fleet after a fatal accident involving one of the vehicles over the weekend.
G7 Deputy Chief Executive Yann Ricordel said an off-duty taxi driver was taking his family to a restaurant when the accident happened on Saturday evening. Continue reading “Paris taxi firm suspends use of Tesla cars after fatal accident”
TOKYO, Dec 15 (Reuters) – Toyota Motor Co (7203.T) said on Wednesday it planned to build 800,000 vehicles globally in January, a record for the month, as it ramps up production to make up for output lost to parts shortages.
“We will continue to maintain our production forecast of the 9 million unit level” for the year to March 31, the company said in a press release. Continue reading “Toyota says it will build record 800,000 vehicles in January”
Dec 15 (Reuters) – As they scour the globe for the lithium, nickel and cobalt resources needed to keep China on top in the electric vehicle (EV) stakes, Chinese battery and EV makers are fretting about supply of another mineral closer to home – graphite.
Graphite, in both natural and synthetic forms, is used for the negative end of a lithium-ion battery, known as the anode. Around 70% of all graphite comes from China, and there are few viable alternatives for batteries. Continue reading “China EV, battery makers grapple with graphite squeeze”
Dec 14 (Reuters) – Uber Technologies Inc (UBER.N) is looking to sell stakes in non-strategic assets including its holding in Beijing-based Didi Global Inc (DIDI.N), its CEO said on Tuesday, who also described the China market as a tough one with little transparency.
The U.S. firm pulled out of China in 2016 after burning through more than a billion dollars a year due to a price war with Didi. It eventually sold its China operations to Didi in exchange for a stake. Continue reading “Uber looking to sell Didi, China market has little transparency, CEO says”
E-mobility technology platform MoEVing has announced its total seed funding of $5 Mn, including $1 Mn raised earlier this year to accelerate growth.
The company currently operates 600 EVs in 10 cities and aims to scale to 10,000 EVs, 100 charging hubs in 30 cities by 2023, said a company statement. Continue reading “EV Tech Startup MoEVing Raises $5 Mn Seed Capital To Accelerate Growth”
Bengaluru-based electric two-wheeler maker Simple Energy has collaborated with the Indian Institute of Technology-Indore (IIT-Indore) to develop an advanced thermal management system for its flagship e-scooter Simple One and future products, the company announced on Tuesday.
The collaboration with IIT Indore will boost Simple Energy’s R&D and aid in the integration of lightweight vehicles with high-performance (composite) materials to reduce range anxiety and accelerate consumer demand in line with government standards, it said. Continue reading “Simple Energy joins hands with IIT-Indore for flagship e-scooter, future products”
Dec 10 (Reuters) – General Motors (GM.N) is considering investing more than $4 billion in two Michigan plants to boost its electric vehicle production capacity, according to sources and documents made public on Friday.
GM has proposed building a $2.5 billion battery plant near Lansing with partner LG Energy Solution (051910.KS), the documents show. Continue reading “GM eyes investments of more than $4 billion in Michigan EV plants”
FRANKFURT, Dec 11 (Reuters) – Europe’s automotive sector has become too reliant on Asia and other regions for vital components such as semiconductors and battery cells, Bosch’s (ROBG.UL) outgoing chairman told a German newspaper.
Automotive Chips and battery cells have become the two most important components in the age of electric and autonomous vehicles, forcing European carmakers to rely on Asian suppliers as local industry has been slow to build capacity close by. Continue reading “Europe’s car industry too reliant on other regions, says Bosch chairman”
Dec 13 (Reuters) – Tesla (TSLA.O) Chief Executive Officer Elon Musk was named Time magazine’s “Person of the Year” for 2021, a year that saw his electric car company become the most valuable carmaker in the world and his rocket company soar to the edge of space with an all-civilian crew.
Musk is also the founder and CEO of SpaceX, and leads brain-chip startup Neuralink and infrastructure firm The Boring Company. Tesla’s market value soared to more than $1 trillion this year, making it more valuable than Ford Motor (F.N) and General Motors (GM.N) combined. Continue reading “Elon Musk named Time’s 2021 ‘Person of the Year’”
BERLIN, Dec 13 (Reuters) – Volkswagen (VOWG_p.DE) said on Monday it was looking at locations for planned battery cell plants in Spain and eastern Europe and the exact sites for its third and fourth gigafactories would be determined in the first half of 2022.
“By 2030, Volkswagen plans to open two more cell factories in Europe,” the group added in a statement. Continue reading “Volkswagen plans to decide new gigafactory locations in H1, 2022”
BARCELONA, Dec 13 (Reuters) – Chinese carmaker Great Wall Motor (601633.SS) has withdrawn its interest in taking over Nissan’s (7201.T) main plant in Barcelona, which is scheduled to shut by year-end, the Spanish government and Nissan unions said on Monday.
Great Wall did not respond to a request for comment. Continue reading “Great Wall Motor withdraws interest in Spain’s Nissan plant”
BERLIN, Dec 13 (Reuters) – Daimler (DAIGn.DE) on Monday said its Chinese shareholder Beijing Automotive Group Co Ltd (BAIC)(1958.HK) does not plan to increase its stake in the German luxury carmaker beyond the 9.98% stake it has held since 2019.
The German carmaker said BAIC told Daimler after the Daimler Truck spinoff on Friday that it has held a 9.98% stake since 2019, and does not plan to increase it further. Continue reading “China carmaker BAIC has 9.98% stake in Daimler, no plans to raise it further”
New Delhi: Auto components maker Minda Industries Ltd (MIL) on Friday said it has entered into a joint venture agreement with FRIWO AG Germany to manufacture and supply various electric vehicle components in the Indian subcontinent with a planned capex of Rs 390 crore in the next six years. MIL, the flagship firm of Uno Minda Group, will hold a majority stake of 50.1 per cent, with the rest held by FRIWO AG Germany — a global manufacturer of innovative power supply units and e-drive solutions, the company said in a regulatory filing.
In a separate filing, the company said it will also expand production capacities of its two-wheeler and four-wheeler alloy wheels business for which a total capital expenditure (capex) outlay of Rs 264 crore has been made. Continue reading “Minda Industries forms JV with Germany’s FRIWO for manufacturing EV components”
NEW DELHI, Dec 8 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) said on Wednesday it planned to invest 40 billion rupees ($530 million) to launch six electric vehicles in India by 2028, making a clean driving push in a country with some of the world’s most polluted cities.
Hyundai, India’s second largest carmaker, will launch affordable and premium electric models including sport utility vehicles (SUVs) and sedans, starting with its first electric vehicle (EV) in 2022, said Tarun Garg, director sales and marketing for Hyundai Motor India. Continue reading “Hyundai to invest $530 million to launch six EVs in India by 2028”
BANGKOK, Dec 8 (Reuters) – Ford Motor Co (F.N) is investing $900 million to upgrade factories in Thailand that build its Ranger pickup truck and Everest SUV, its largest-ever investment in the country.
The plan includes a near doubling of the number of robots at its Thai manufacturing plant and at AutoAlliance Thailand, a venture with Mazda Motor Corp (7261.T), while $400 million of the investment will go towards its supply chain network. Continue reading “Ford invests $900 mln to modernise Thai auto plants”
WASHINGTON/DETROIT, Dec 8 (Reuters) – The U.S. government plans to end purchases of gas-powered vehicles by 2035 in a move to lower emissions and promote electric cars under an executive order signed by President Joe Biden on Wednesday.
The government owns more than 650,000 vehicles and purchases about 50,000 annually. Biden’s executive order said that light-duty vehicles acquired by the government will be emission-free by 2027. Continue reading “U.S. government to end gas-powered vehicle purchases by 2035 under Biden order”
FRANKFURT, Dec 8 (Reuters) – Lithium developer Vulcan Energy Resources (VUL.AX) has secured Volkswagen (VOWG_p.DE) as an additional car industry customer for its environmental-friendly lithium hydroxide for automotive batteries.
The binding purchase agreement with Volkswagen for lithium extracted from Germany’s Upper Rhine Valley region by means of geothermal energy has an initial term of five years with commercial delivery to start in 2026, Vulcan said in a statement on Wednesday, without providing contract details. Continue reading “Lithium extraction company Vulcan adds VW to customer line-up”
LONDON, Dec 8 (Reuters) – French carmaker Renault (RENA.PA) on Wednesday received a blow for its popular Zoe electric model, as the European New Car Assessment Programme (NCAP) gave it a zero-star safety rating in tests that are standards for Europe.
The carmaker, which is cutting costs and working to turn around its performance after overstretching itself over years of ambitious global expansion, also received a one-star rating for its lower-cost electric Dacia Spring model. Continue reading “Renault Zoe goes from hero to zero in European safety agency rating”
FRANKFURT, Dec 9 (Reuters) – Volkswagen (VOWG_p.DE) is readying its battery unit for a partial sale or listing and has agreed to convert it into a so-called European company, or Societas Europaea, to provide the conditions for such a move, CEO Herbert Diess said.
Diess, speaking after the carmaker provided details on its new five-year investment plan, said that the move was aimed to prepare the division for capital market activity, including bringing in external partners. Continue reading “Volkswagen prepares battery division for capital markets – CEO”
TOKYO, Dec 9 (Reuters) – Toyota Motor Corp (7203.T)has halted production at two factories in Japan due to a supply shortage, a spokesperson told Reuters on Thursday.
The stoppage means that Toyota cannot return to normal operations in December as it had originally planned. Continue reading “Toyota halts production at 2 Japan factories due to supply shortage”
Dec 10 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk is “thinking of” leaving his jobs and becoming an influencer, the world’s richest man tweeted on Thursday.
“thinking of quitting my jobs & becoming an influencer full-time wdyt,” Musk said in the tweet, without elaborating. Continue reading “Tesla’s Musk says he is ‘thinking of’ quitting his jobs”
San Francisco, Dec 9 (Reuters) – Tesla Inc (TSLA.O) is being sued by a second female employee for sexual harassment in less than a month, with the two lawsuits alleging a “hostile work environment” against women at the car maker’s U.S. factory.
Erica Cloud, a Tesla assembly line worker, accused defendants including her former manager of “continuous and pervasive” sexual harassment in a lawsuit filed in Alameda County Superior Court in California on Wednesday. Continue reading “Tesla sued by second female worker over sexual harassment, retaliation”
Dec 9 (Reuters) – General Motors Co (GM.N) plans to source rare earth magnets for its future electric vehicles from new U.S.-based manufacturing facilities under two separate deals announced on Thursday, a return to an industry the automaker had all but abandoned in the 1990s.
The agreements with MP Materials Inc (MP.N) and privately-held Vacuumschmelze are the latest push by GM to domestically source EV materials for its Ultium platform, a goal it hopes to achieve by 2025. GM did not disclose financial terms. Continue reading “General Motors returns to rare earth magnets with two U.S. deals”
TOKYO, Dec 10 (Reuters) – Toyota Motor Co (7203.T) on Friday expanded production stoppages at some factories in Japan because of a shortage of components shipped from parts plants in Southeast Asia.
The latest halts will cut car output by 9,000 vehicles when added to curbs announced on Thursday, affecting production of Lexus models and its four-wheel-drive Land Cruiser, Toyota said in a press release. Continue reading “Toyota halts more production in Japan as parts run out”
PARIS, Dec 6 (Reuters) – French carmaker Renault (RENA.PA) said on Monday it had revised down its forecast for engineering and support jobs cuts in France between 2022 and 2024 to 1,700 from the 2,000 job losses previously expected.
Renault, 15% owned by the French government, said in September it would start talks with unions on plans to cut up to 2,000 engineering and support jobs in France as it shifts into electric vehicles and hires for different posts. Continue reading “Renault to cut fewer jobs than initially planned by 2024”
BENGALURU, Dec 2 (Reuters) – U.S. ride-hailing company Uber Technologies Ltd (UBER.N) said on Thursday it would roll out a feature that will allow users in India to book rides via messaging service WhatsApp.
The move could help Uber tap into the more than 500 million user base of Meta Platforms-owned (FB.O) WhatsApp in India. Continue reading “Uber to allow users to book rides via WhatsApp in India”
