BERLIN, Dec 2 (Reuters) – Daimler’s (DAIGn.DE) supervisory board signed off an investment plan worth over 60 billion euros ($67.88 billion) for Mercedes-Benz Cars & Vans between 2022 and 2026, the company said on Thursday.

The statement, issued a week before the Cars & Vans division splits off from Daimler Truck & Buses on December 10, said that the luxury vehicle maker aims to be at the forefront of electric vehicle production and software following the listing. Continue reading “Daimler supervisory board signs off 60 bln euro investment plan for Mercedes-Benz”

SILVERSTONE, England, Dec 2 (Reuters) – You can save your prized Aston Martin DB6, Porsche 911 or Mustang from the museum of combustion engine history. Or your Fiat 500 and Renault Clio, for that matter.

That’s the message from a growing cohort of European and American startups seeking to carve out roles in the auto transition by converting the roaring dinosaurs of the fossil-fuel age into clean electric vehicles (EVs). Continue reading “Saving the dinosaurs: Startups drive to electrify fossil-fuel cars”

WASHINGTON, Dec 2 (Reuters) – Members of the United Auto Workers union have voted to change the union’s election method from the current delegate system to a direct election model, a court-appointed monitor said.

The referendum showed 63.7%, or 89,615 votes, in favor of the direct voting system, with 50,971, or 36.3%, for keeping the status quo, monitor Neil Barofsky said. Continue reading “UAW workers vote to elect union leaders directly”

BEIJING, Dec 3 (Reuters) – Toyota Motor Corp (7203.T) will launch an all-electric small sedan in China late next year, having turned to local partner BYD (002594.SZ) for key technology to finally make an affordable yet roomy runaround, four sources told Reuters.

Two of the four people with knowledge of the matter described the car as an electric holy grail for Toyota which has struggled for years to come up with a small EV that is both competitive on cost in China and doesn’t compromise on comfort. Continue reading “EXCLUSIVE Toyota turns to Chinese tech to reach its electric holy grail”

SYDNEY, Dec 3 (Reuters) – Paramedics with jetpacks, border police in flying cars and city workers commuting by drone all sound like science fiction – but the concepts are part of a advanced air mobility (AAM) market that is expected to be worth as much as $17 billion by 2025.

As urbanisation leaves city streets congested and advances in technology allow for vehicles considered impossible just decades ago, using the sky for small-scale aircraft has become increasingly attractive. Continue reading “Jetpacks, flying cars and taxi drones: transport’s future is in the skies”

Dec 3 (Reuters) – Ford Motor Co (F.N) expects to be the world’s second largest electric vehicle manufacturer within two years, with annual production capacity of nearly 600,000, a top company executive said Friday.

The automaker’s optimism stems from increasing demand for its next new EV, the Ford F-150 Lightning pickup, with retail reservations approaching 200,000, Lisa Drake, chief operating officer of Ford North America, said. Continue reading “Ford aims to be world’s #2 electric vehicle maker within two years – COO”

Dec 3 (Reuters) – The U.S. Trade Representative’s office said on Friday it was committed to legislation strengthening the domestic electric vehicle industry despite objections from Mexico and Canada over a proposed tax credit for electric vehicles built by U.S. union workers.

The proposed $12,500 electric vehicle tax credit would include $4,500 for EVs built in the United States by union workers, effective after 2027. It is included in the Biden administration’s sweeping climate and social spending legislation now under consideration by Congress. Continue reading “USTR backs efforts to strengthen U.S. EV industry despite objections”

HANOI, Dec 4 (Reuters) – Vingroup JSC (VIC.HM), Vietnam’s largest conglomerate, said on Saturday it is planning to list its car unit on the U.S. stock market in the second half of next year, in an offering expected to raise at least $3 billion.

Just last month, an official said the listing may happen within the next couple of years, as the company joins a growing list of electric vehicle startups taking advantage of investor excitement to raise funds. Continue reading “Vingroup plans U.S. IPO for automaking arm in late 2022”

FLINS, France, Nov 30 (Reuters) – Renault (RENA.PA) said on Tuesday that its yet-to-launch recycling business could generate an extra one billion euros ($1.13 billion) in revenue by the end of the decade.

“These activities will generate 200 million (euros) in turnover from 2025”, Renault Chief Executive Luca de Meo told reporters at a former car production plant in the town of Flins, near Paris, which it is repurposing for the recycling and reconditioning of used vehicles and components. Continue reading “Renault expects $1.1 billion revenue from new recycling business”

FRANKFURT, Dec 1 (Reuters) – Volkswagen’s (VOWG_p.DE) planned European battery cell plants and securing vital raw materials will cost as much as 30 billion euros ($34 billion), board member Thomas Schmall said, putting a price tag on the expansion for the first time.

Schmall, who is in charge of technology at Europe’s largest carmaker, said in an interview at the Reuters Next conference that Volkswagen would seek outside partners to fund it. Continue reading “VW expects battery, raw material drive to cost up to $34 bln”

DETROIT, Dec 1 (Reuters) – Stellantis NV (STLA.MI) Chief Executive Carlos Tavares said external pressure on automakers to accelerate the shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle to manage the higher costs of building EVs.

Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are “beyond the limits” of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. Continue reading “Stellantis CEO says EV cost burden is ‘beyond the limits’ for automakers”

Dec 1 (Reuters) – U.S. truck maker Navistar International Corp, backed by Volkswagen (VOWG_p.DE), said on Wednesday the Omicron variant of the coronavirus would likely slow the recovery in the global supply chain.

A shortage of semiconductor chips, used to operate everything from driver aids to infotainment systems, have forced major automakers to slash their productions and in some cases build vehicles without certain features. Continue reading “Truck maker Navistar says Omicron variant is likely to slow supply chain recovery”

Dec 1 (Reuters) – Automakers must work closer with lithium producers to guarantee supply of specialized types of the white metal that boost an electric vehicle’s range and performance, Albemarle Corp (ALB.N) and Livent Corp (LTHM.N) executives told the Reuters Next conference on Wednesday.

As EVs go mainstream, automakers are planning models that can run longer before recharging and handle different weather conditions. Batteries for such EVs typically are made with a type of lithium known as hydroxide that cannot be stored for long periods of time and thus must be made in custom batches. Continue reading “EV industry must work closer with lithium suppliers, executives say”

Dec 1 (Reuters) – San Francisco’s public transit operator has challenged an application by Cruise to charge for robotaxi rides, saying on Wednesday promotional videos from the General Motors Co (GM.N) unit show Cruise passengers illegally hopping in and out of vehicles in the middle of the street instead of at the curb.

The San Francisco Municipal Transportation Agency (SFMTA) said in a 24-page letter that the recent videos from Cruise show the self-driving technology company is allowing unlawful behavior that also endangers people nearby and slows down buses, agency director Jeff Tumlin said. The agency also blasted Cruise’s application for failing to plan service in low-income and minority neighborhoods or to accommodate wheelchairs. Continue reading “San Francisco agency opposes Cruise robotaxi application, citing safety”

DETROIT, Dec 1 (Reuters) – General Motors Co (GM.N) expects full year adjusted pre-tax profits will reach about $14 billion, higher than the previous forecast, the automaker’s Chief Financial Officer Paul Jacobson said during a presentation.

GM had previously forecast full-year adjusted pre-tax profits at $11.5 billion to $13.5 billion. GM shares were up more than 2.5% in mid-afternoon trading following Jacobson’s statement. Continue reading “GM boosts profit outlook as supply chain troubles ease”

Dec 1 (Reuters) – General Motors Co (GM.N) and Ford Motor Co (F.N) are revving up their century old rivalry, this time over which will sell more electric vehicles by 2025.

But with Tesla (TSLA.O) ensconced as the global EV leader and the Volkswagen Group (VOWG_p.DE) mounting a $100 billion-plus challenge, GM and Ford are racing for third place, at best. Continue reading “Ford, GM race to brag ‘We’re Number 3!’ in electric vehicle market”

DETROIT, Nov 30 (Reuters) – Auto industry executives expect electric vehicles will make up just over half of new vehicle sales in the United States and China by 2030, and could do so without receiving government subsidies, according to a new survey by accounting and consulting firm KPMG.

But combustion vehicles, including hybrids, are expected to retain a significant share of most major vehicle markets for years to come, according to KPMG’s latest annual survey of 1,000 auto industry executives. Continue reading “Auto executives expect EVs will own half of U.S., China markets by 2030 – survey”

Nov 30 (Reuters) – An Australian federal court has found that the local unit of Japanese automaker Mazda Motor Corp (7261.T) misled customers over their rights, the country’s competition regulator said on Tuesday.

The Australian Competition and Consumer Commission started court proceedings against Mazda in October 2019 in a case involving seven different Mazda vehicles and 10 customers. Continue reading “Court finds Mazda Australia misled customers on refunds for faulty vehicles”

FLINS, France, Nov 30 (Reuters) – Renault (RENA.PA) said on Tuesday that its yet-to-launch recycling business could generate an extra one billion euros ($1.13 billion) in revenue by the end of the decade.

“These activities will generate 200 million (euros) in turnover from 2025”, Renault Chief Executive Luca de Meo told reporters at a former car production plant in the town of Flins, near Paris, which it is repurposing for the recycling and reconditioning of used vehicles and components. Continue reading “Renault expects $1.1 billion revenue from new recycling business”

Nov 24 (Reuters) – Global shipping and supply chain bottlenecks are encouraging Canadian firms to bring production back home, but some companies would have to absorb higher costs and build expertise in certain sectors for local manufacturing to pick up pace.

While carefully knitted global supply chains helped sectors from fashion to autos cut costs and boost margins in recent decades, COVID-19 has eroded those advantages and exposed weaknesses like shortages of semiconductor chips. Continue reading “Analysis: Made in Canada: Factories see silver lining in supply chain woes”

LONDON, Nov 26 (Reuters) – British car output fell by an annual 41.4% last month to its lowest October level since 1956 as the global lack of semiconductor chips and a plant closure hit the sector, according to a trade industry body.

A total of 64,729 cars rolled off British production lines, data from the Society of Motor Manufacturers and Traders (SMMT) showed on Friday.

Continue reading “Lowest October UK car output since 1956 amid chip shortage”

BERLIN, Nov 26 (Reuters) – Tesla (TSLA.O) said on Friday it has withdrawn its application for state aid for its planned battery factory near Berlin as CEO Elon Musk declared the electric vehicle maker opposed all subsidies.

The European Union in January approved a plan that included giving state aid to Tesla, BMW (BMWG.DE) and others to support production of electric vehicle batteries and help the bloc to reduce imports from industry leader China. Continue reading “Tesla decides against state aid for German battery plant as Musk opposes subsidies”

MUNICH, Nov 26 (Reuters) – Whether buying computer chips directly from manufacturers, reconfiguring cars, or producing them with parts missing, automakers are having to get creative to cope with the global shortage of semiconductors.

The shortage, due to supply problems and a surge in demand for consumer electricals during the pandemic, has hit the auto industry hard, with millions of vehicles worldwide not being produced because important parts are missing. Continue reading “Carmakers get inventive as global chip crisis bites”

SHANGHAI, Nov 27 (Reuters) – Chinese smartphone giant Xiaomi Corp (1810.HK) will build a plant that can produce 300,000 vehicles annually in Beijing for its electric vehicle unit, authorities in the capital said on Saturday.

The plant will be constructed in two phases and Xiaomi will also built its auto unit’s headquarters, sales and research offices in the Beijing Economic and Technological Development Zone, the government-backed economic development agency Beijing E-Town said on its official WeChat account. Continue reading “Xiaomi to open car plant in Beijing with annual output of 300,000 vehicles – Beijing govt”

AMSTERDAM, Nov 24 (Reuters) – Uber Technologies Inc. (UBER.N) said it would halt operations in Brussels from Nov. 26 after a court ruled that a 2015 ban on private individuals offering taxi services also applies to professional drivers.

Uber said the decision by the Brussels Appeals Court on Wednesday will affect around 2,000 drivers, and it urged the Belgian government to quickly change taxi service laws. Continue reading “Uber to halt app in Brussels from Friday after court ruling”

AUSTIN, Texas, Nov 24 (Reuters) – Williamson County Judge Bill Gravell is the first to admit few people had heard of his small town of Taylor in Central Texas before South Korean conglomerate Samsung announced it was building its new $17 billion chip factory there.

The Electronics Co Ltd (005930.KS) plant, which is expected to produce advanced high-performance chips, is hailed by local, state and U.S. officials as an important step in shoring up domestic chip supply and reducing dependence on Chinese production. Continue reading “How a little Texas town snagged a $17 bln Samsung chip plant deal”

TAIPEI, Nov 25 (Reuters) – Taiwan is looking at cooperating with three Eastern European countries on semiconductors, a minister said on Thursday, a move likely to find favour in Brussels which has been courting Taiwanese semiconductor firms to manufacture in the bloc.

Tech powerhouse Taiwan, home to companies such as Taiwan Semiconductor Manufacturing Co Ltd (TSMC) (2330.TW), has become front and centre of efforts to resolve a shortage of chips that has shut some auto production lines around the world and whose impact is now being felt in consumer electronics too. Continue reading “Taiwan looking at chip cooperation with Eastern European nations”

SHANGHAI, Nov 25 (Reuters) – Chinese tech group Baidu Inc and self-driving startup Pony.ai have won approval to launch paid driverless robotaxi services that will see the firms deploy not more than 100 vehicles in an area in China’s capital Beijing.

The state-backed Beijing Daily newspaper reported on the approvals on Thursday, citing a ceremony held by the Beijing Economic and Technological Development Zone, where the 60 square kilometre-large area (23 square miles) is located. Continue reading “Baidu, Pony.ai approved for robotaxi services in Beijing”

Nov 24 (Reuters) – Global shipping and supply chain bottlenecks are encouraging Canadian firms to bring production back home, but some companies would have to absorb higher costs and build expertise in certain sectors for local manufacturing to pick up pace.

While carefully knitted global supply chains helped sectors from fashion to autos cut costs and boost margins in recent decades, COVID-19 has eroded those advantages and exposed weaknesses like shortages of semiconductor chips. Continue reading “Analysis: Made in Canada: Factories see silver lining in supply chain woes”

WASHINGTON, Nov 23 (Reuters) – Detroit’s Big Three automakers are not yet mandating vaccines for thousands of unionized workers even as they said in a joint statement with the United Auto Workers on Tuesday that they will extend requirements for workers to wear masks at work sites.

General Motors Co (GM.N), Ford Motor (F.N), Chrysler-parent Stellantis and the UAW said they have agreed that unionized auto workers will be asked to report vaccination status on a voluntary basis, but not as a requirement. They also agreed to continue mask requirements at work sites. Continue reading “U.S. automakers not yet mandating vaccines for union workers”

FRANKFURT, Nov 24 (Reuters) – BlackRock (BLK.N), the world’s largest money manager, has joined electric vehicle charging (EV) venture Ionity in a 700 million euro ($788 million) funding round, providing a much-needed cash injection to speed up construction of high-power loading sites.

The investment, which also includes contributions from existing shareholders, will enable Ionity to more than quadruple the number of high-power 350 kilowatt charging points to 7,000 by 2025, Ionity said on Wednesday. Continue reading “BlackRock joins e-car charging venture Ionity in $788 mln funding round”

WASHINGTON, Nov 23 (Reuters) – Detroit’s Big Three automakers are not yet mandating vaccines for thousands of unionized workers even as they said in a joint statement with the United Auto Workers on Tuesday that they will extend requirements for workers to wear masks at work sites.

General Motors Co (GM.N), Ford Motor (F.N), Chrysler-parent Stellantis and the UAW said they have agreed that unionized auto workers will be asked to report vaccination status on a voluntary basis, but not as a requirement. They also agreed to continue mask requirements at work sites. Continue reading “U.S. automakers not yet mandating vaccines for union workers”

BERLIN, Nov 23 (Reuters) – Employees at Tesla’s (TSLA.O) huge new factory near Berlin will elect a works council to represent their interests, a German trade union said on Tuesday.

The IG Metall trade union said seven employees had taken the first step towards setting up a works council, planning to choose an election committee on Nov. 29. Continue reading “Tesla employees in Germany plan works council”

LONDON, Nov 21 (Reuters) – Charging points for electric vehicles will be required to be installed in new buildings in Britain from next year under new legislation to be announced by Prime Minister Boris Johnson, his office said in a statement on Sunday.

It said the regulations would lead to up to 145,000 extra charge points being installed in England each year in the run-up to 2030, when the sale of new petrol and diesel cars will end in Britain. Continue reading “UK to require charge points for electric vehicles in new buildings”

LOS ANGELES, Nov 18 (Reuters) – Automakers chasing electric vehicle leader Tesla Inc (TSLA.O) revealed new, more affordable and larger electric sport utility vehicles at the Los Angeles Auto Show, racing into one of the fastest-growing segments of the U.S. market.

Kia Motors (000270.KS) called out Tesla by name at the show, announcing that its upcoming electric crossover EV6 beat Tesla’s previous record for the shortest charging time, while driving across the United States, by more than five hours. Continue reading “In Los Angeles, Tesla’s rivals roll out larger, cheaper electric SUVs”

MILAN, Nov 19 (Reuters) – The transition to electric cars could jeopardise 60,000 jobs in Italy, one of the country’s main metal workers’ unions said on Friday and called on the government to support a sector that is “overwhelmed by changes”.

Industry analysts say the auto sector in Italy could be hit harder than elsewhere because of the small average size of firms in the country and the scale of investment needed to comply with the European Union’s “Fit-For-55” climate plan to reduce net greenhouse gas emissions by 55% from 1990 levels by 2030. Continue reading “Electric vehicle transition puts 60,000 Italian jobs at risk, union says”

WASHINGTON, Nov 19 (Reuters) – Canadian Prime Minister Justin Trudeau returned to Ottawa on Friday after failing to convince U.S. President Joe Biden to scrap proposed electric-vehicle tax credits that would favor American-based manufacturers, but said he would keep seeking a solution.

Democrats in the U.S. House of Representatives on Friday passed the $1.75 trillion domestic investment bill that includes the tax credits, sending it to the Senate where negotiations will continue. Continue reading “Canada’s Trudeau comes up short on U.S. EV tax credits, says will keep pushing”

BERLIN, Nov 19 (Reuters) – Several thousand workers at autos supplier Robert Bosch protested in Germany on Friday against planned plant closures and job relocations which the company said are needed to adapt to changing demand in the transition to electric vehicles.

Around 3,000 workers from various plants gathered outside a Bosch plant in Buehl, union IG Metall said, where around 1,000 staff in Germany will lose their jobs by 2025 as a result of relocations, cuts, or new hires, according to the company. Continue reading “Bosch workers protest against factory closures, job cuts”

BARCELONA, Nov 19 (Reuters) – Volkswagen’s (VOWG_p.DE) Spanish car maker SEAT has recommended unvaccinated and vaccinated employees sit separately in its canteen at its plant outside Barcelona to protect workers and ensure operational activity, the company said on Friday.

The move, which involves having a separate section for workers who have not had a COVID-19 vaccine, has been in place for the past month, a SEAT spokesperson told Reuters. Continue reading “Spain’s SEAT asks unvaccinated workers to eat separately in Barcelona canteen”