By David Shepardson and Ben Klayman
Dec 6 (Reuters) – Ford Motor (F.N) said on Wednesday it is unlikely Mustang Mach-E electric vehicles currently in dealer showrooms will qualify for federal tax credits beginning in January.
The U.S. Treasury issued guidance last week detailing new battery sourcing restrictions that take effect Jan. 1 aimed at weaning the U.S. EV supply chain away from China. The current model Mach-E currently qualifies for a $3,750 federal tax credit.
By Paul Lienert
Dec 6 (Reuters) – Former auto designer Vicki von Holzhausen thinks carmakers can make their electric vehicles even greener — with the help of bamboo and bananas.
Vegan leather made from those plants is a specialty of an eponymous “material innovation” company she founded in 2015 in Malibu, California. The firm started out making handbags, backpacks and other accessories. Today, it ships a variety of plant-based materials to the fashion, furniture and aerospace industries, and has mounted a foray into the auto business.
Continue reading “Want greener EVs? Add plant-based ‘leather’ says designer Vicki von Holzhausen”
Reuters
COPENHAGEN, Dec 6 (Reuters) – PensionDanmark, one of Denmark’s largest pension funds, said on Wednesday it had decided to sell its holdings in Tesla (TSLA.O) over the U.S. auto company’s refusal to enter into agreements with labour unions.
The decision is part of a growing Nordic movement to force Tesla to sign collective bargaining agreements with Swedish mechanics, who have been on strike since October.
Continue reading “Danish pension fund to sell its Tesla shares over union dispute”
The first and foremost thing you must do is to get in touch with a towing company that is closest to you whenever you are stuck on the road. A towing company which is situated near to you will be able to come and protect you and your car quickly.
Continue reading “Which Towing Company to Call When You’re Stuck on the Road?”
Imagine that you are finally going on a long-awaited road trip with your family. You are on an isolated road, listening to your favorite music and enjoying the scenery. But suddenly your car breaks down: flat tire it is! What is the first thing that would come to your mind? Repair shop near me, right. But finding it within proximity is very difficult, and would you want to drag your car till you can find the mechanic? Of course not! Incidents like these: flat tires, dead battery, empty fuel tank, etc., create panic and spoil the mood of the trip.
Continue reading “Which is the best car breakdown and roadside assistance service in India?”
December 05, 2023
Reuters
TOKYO, Dec 6 (Reuters) – Harmonic Drive Systems (6324.T), a Japanese maker of speed reducers, said on Wednesday that Toyota Motor (7203.T) will sell its entire stake in the company in the open market overseas.
The move could fan hopes among investors that Toyota will accelerate sales of shareholdings in affiliates and partners following last week’s announcement it would divest a stake in supplier Denso (6902.T), a pillar of the Toyota group.
Continue reading “Toyota to sell entire stake in Japan’s Harmonic Drive Systems – filing”
Reuters
SHANGHAI/BEIJING, Dec 5 (Reuters) – Nio (9866.HK) said it would take over some plant assets from partner Anhui Jianghuai Automobile Group (600418.SS) (JAC) as the Chinese electric vehicle maker moves closer to producing cars on its own to save manufacturing costs.
In October, state-owned JAC put up for sale the assets at the two plants, known as F1 and F2, where Nio has been producing its electric vehicles (EVs). Nio said in an exchange filing on Tuesday that it would take some fixed assets and equipment at the two factories from JAC at a price of 3.16 billion yuan ($442.19 million).
Continue reading “Nio to take over plant assets from manufacturing partner JAC”
By Greg Bensinger
Dec 5 (Reuters) – General Motors’ Cruise autonomous vehicle unit has hit an “all time low,” said its new leader, while promising to restore trust with regulators and the public after the company pulled all of its vehicles from U.S. roads.
“Our integrity, our competency are being questioned and this really hurts,” said Mo Elshenawy at an all-staff meeting Tuesday, according to a transcript of the call reviewed by Reuters. “We went from an all-time high to an all-time low and from being an industry leader to temporary pausing all of our operations,” he said.
By Gilles Guillaume
PARIS, Dec 6 (Reuters) – Renault’s long-standing alliance partners Nissan (7201.T) and Mitsubishi (7211.T) confirmed plans to invest in the French car maker’s electric vehicle unit Ampere and use it to develop EVs for the European market, the companies said on Wednesday.
After years of contentious partnership, the announcement on Wednesday confirms that the new alliance between the three automakers is smaller and more pragmatic, focusing on regional cooperation.
Continue reading “Nissan, Mitsubishi confirm plans to invest in Renault EV unit Ampere”
By Laura Sanicola
Dec 6 (Reuters) – There is plenty of hand-wringing on display at the COP28 climate conference in Dubai about the slow pace of reducing the consumption of fossil fuels to fight climate change. But one positive that delegates can point to is the growing fleet of electric vehicles worldwide that is already making a surprisingly big dent in demand.
Growing sales of electric vehicles in recent years have led forecasters to speed their projections for when global oil use will peak, as public subsidies and improved technology help consumers overcome the sometimes eye-popping sticker prices for battery-powered cars, according to industry experts.
Continue reading “How electric vehicles are accelerating the end of the oil age”
Source : PTI | Renewable energy firm ReNew Energy Global Plc has inked an initial pact with the Asian Development Bank (ADB) for a funding of USD 5.3 billion. “The MoU was signed at COP28, Dubai by ReNew’s Founder, Chairman and CEO, Sumant Sinha and Suzanne Gaboury, Director General, Private Sector Operations Department, ADB,” a company statement said.
According to the statement, the MoU identified potential investments in renewable energy projects, manufacturing, carbon offset projects, green hydrogen, to jointly support sustainable energy transition.
Continue reading “ReNew inks initial pact with Asian Development Bank for USD 5.3 bn funding”
Soruce : PTI | Construction equipment major JCB on Monday termed hydrogen-powered construction equipment a very big opportunity with the gradual scaling up of the supporting infrastructure. The company, which on Monday unveiled a backhoe loader powered by a hydrogen combustion engine, said it can scale up the model range as per the market demand.
“It’s only a matter of time before hydrogen becomes readily available in India for a variety of applications,” JCB India CEO and Managing Director Deepak Shetty told reporters here.
Continue reading “JCB terms hydrogen powered construction equipment as a big opportunity”
Source :PTI | Industry body FICCI on Monday said it has submitted its proposal to the Ministry of Heavy Industries for the continuation of the FAME scheme for the next five years, with a review at the end of three years. The time period for the current FAME II scheme is till March 2024.
Sudden withdrawal or discontinuation of upfront price incentives will lead to up to 25 per cent price increase of EVs and this may derail EV adoption momentum substantially, also impacting further investments in the EV sector, and disrupting gains made so far, noted FICCI. Continue reading “FICCI submits proposal for continuation of demand incentives for EVs under FAME III”
DETROIT, (Reuters) – General Motors (GM.N) CEO Mary Barra said on Monday the Detroit automaker is “very focused on righting the ship” at Cruise, its troubled self-driving unit but said it did not plant to say how much it will spend until its completes a pair of reviews.
Barra said at a media event an ongoing outside external safety review will guide the company’s path forward and is expected to be completed in early 2024. Continue reading “GM ‘focused on righting’ ship at self-driving Cruise unit -CEO”
In today’s fast-paced world, providing impeccable service to automobile customers goes beyond the showroom. Automobile manufacturers understand the significance of offering comprehensive support, especially when unexpected challenges arise on the road. Roadside Assistance (RSA) – a lifeline for customers facing vehicle breakdowns, towing needs, and other roadside issues. Continue reading “EFFORT’s No-Code Roadside Assistance Solution: A Game-Changer for the Automobile Industry”
Indian Oil Corporation (IOC) on Monday opened its first battery-swapping station in Kolkata for electric vehicles (EV). The oil marketing PSU opened the facility at its retail outlet in New Town on the eastern outskirts of the city in collaboration with Sun Mobility, the company said in a statement, adding that this marks a significant step forward in promoting sustainable and accessible electric mobility solutions across the city.
Battery-swapping technology for two and three-wheeler EVs has proven to be a game-changer across India. Continue reading “Indian Oil opens its first EV battery swapping station in Kolkata”
Dec 4 (Reuters) – Ford Motor (F.N) posted a 0.5% drop in U.S. new vehicle sales for November on Monday, as the automaker worked to restart some of its key plants following a lengthy workers’ strike that impacted vehicle production.
However, sales of Ford’s electric vehicles such as its F-150 Lightning pickup truck and Mustang Mach-E, jumped 43.2% to 8,958 units from a year earlier. Continue reading “Ford’s November US vehicle sales slip, EV sales rise”
ALEXANDRIA, Louisiana, (Reuters) – Start-up tech firms are racing to transform the way rare earths are refined for the clean energy transition, a push aimed at turbocharging the West’s expansion into the niche sector that underpins billions of electronic devices.
The existing standard to refine these strategic minerals, known as solvent extraction, is an expensive and dirty process that China has spent the past 30 years mastering. MP Materials (MP.N), Lynas Rare Earths (LYC.AX) and other Western rare earths companies have struggled at times to deploy it due to technical complexities and pollution concerns. Continue reading “Insight: Western start-ups seek to break China’s grip on rare earths refining”
Source : PTI | New Delhi, The proposed 5 per cent blending of biogas with natural gas supplies in the country can cut LNG imports worth USD 1.17 billion annually, says a study by the Indian Biogas Association (IBA). The study comes against the backdrop of the government’s recent mandate to blend one per cent biogas with piped natural gas (PNG) supplies in the country from April 1, 2025 under the compressed biogas blending obligation (CBO) scheme.
The biogas blending is proposed to be further increased to 5 per cent by fiscal year 2028-29. Continue reading “Proposed 5% biogas blending with natural gas can cut LNG imports worth USD 1.17 bn: IBA”
TOKYO, Dec 4 (Reuters) – Toyota Motor (7203.T) said on Monday it would increase its line-up of battery electric vehicles in Europe to six models by 2026 and it expected such vehicles to make up more than 20% of new car sales in the region by then.
The world’s largest automaker by sales said in a statement it expected to sell more than 250,000 battery-powered vehicles annually in Europe by 2026, as it seeks steep growth in a market where it has long been overtaken by rivals. Continue reading “Toyota plans to expand battery EV line-up in Europe to 6 models by 2026”
SHANGHAI, Dec 4 (Reuters) – China’s electric vehicle giant BYD (002594.SZ) said on Sunday it would make permanent its system offering tipsters who report smear campaigns against the company up to 5 million yuan ($700,918).
The company in June 2022 increased the maximum amount providers of such information could receive from 1 million yuan to 5 million yuan, saying that policy was valid for a year. The minimum amount is 50,000 yuan. Continue reading “China’s BYD says will keep reward system for smear campaign tipsters”
BRUSSELS, Dec 4 (Reuters) – Electric vehicle drivers hoping to top up their batteries at one of Repsol’s (REP.MC) 1,600 Spanish charging stations might well be disappointed, with nearly half lying dormant because they have no power connection.
Such gaps are evident across the European Union, where last week the European Commission announced plans to upgrade the bloc’s power grids. These are due to be implemented in 18 months and include addressing EV charging station power shortages. Continue reading “EV charging growth plans slowed by EU’s power grid problems”
COPENHAGEN, Dec 4 (Reuters) – Volvo Cars’ (VOLCARb.ST) sales grew 8% in November from a year earlier to 63,682 cars, the Sweden-based group said on Monday.
Volvo Cars, which is majority-owned by China’s Geely (0175.HK), said in a statement that its fully electric and hybrid cars in November made up more than 50% of all cars sold in Europe, its biggest market. Continue reading “Volvo Cars’ November sales rise 8%”
BEIJING/SHANGHAI, Dec 4 (Reuters) – Sales of U.S. automaker Tesla’s (TSLA.O) China-made electric vehicles (EVs) skidded 17.8% in November from the same month a year earlier, to 82,432 cars, China Passenger Car Association (CPCA) data showed on Monday.
That marked the biggest fall since December 2022 when Tesla’s sales of China-made EVs fell 21% on the year as the U.S. automaker reduced output and cut prices to deal with rising inventories and weakening demand. Continue reading “Tesla’s China-made EV sales fall 17.8% in Nov, biggest drop since Dec 2022”
HANOI, Dec 4 (Reuters) – The United States International Development Finance Corporation (DFC) has signed a letter of interest with electric vehicles maker VinFast to consider the Vietnamese company’s application for a $500 million loan for expansion, VinFast said on Monday.
The loan, which will be used to support VinFast’s establishment of lithium-ion battery manufacturing facilities in Vietnam, is subject to a comprehensive review and approval process by DFC, the carmaker said in a statement. Continue reading “US DFC considers $500 mln loan to Vietnamese EV maker VinFast”
BELGRADE, Dec 3 (Reuters) – Serbian President Aleksandar Vucic said on Sunday he expects automaker Stellantis (STLAM.MI) to produce an electric Fiat Panda city car in the central town Kragujevac.
Vucic who spoke after meeting Italian Prime Minister Giorgia Meloni did not give any specific date for the production launch. Continue reading “Serbia’s Vucic says electric Fiat Panda model to be produced in Serbia”
Source : PTI | Honda Motorcycle & Scooter India (HMSI) on Friday said it is recalling a certain number of H’ness CB350 and CB350RS units to inspect and replace faulty parts. It has been identified that due to an improper process being followed to manufacture the rubber parts of rear stop light switch there are chances of crack development on the rubber, the two-wheeler maker said in a statement. .
This might cause water entry and corrosion inside the switch, leading the light to malfunction, it added. Continue reading “HMSI recalls H’ness CB350, CB350RS to replace faulty parts”
WASHINGTON, Dec 1 (Reuters) – General Motors said Friday that it expects many of its electric vehicles to qualify for U.S. tax credits next year after new stricter rules limiting Chinese battery content take effect.
“Due to GM’s historic investments in the U.S and efforts to build more secure and resilient supply chains we believe GM is well positioned to maintain the consumer purchase incentive for many of our EVs in 2024 and beyond,” the automaker said after the Biden administration issued new guidance. Continue reading “GM believes many of its EVs will qualify for tax credits in 2024”
WASHINGTON, (Reuters) – The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year.
In a win for automakers, the U.S. Treasury will temporarily exempt some trace critical minerals from new strict rules barring materials from China and other countries deemed a “Foreign Entity of Concern.” (FEOC) Continue reading “US to limit Chinese firms, battery parts from winning EV tax credits”
WASHINGTON, (Reuters) – A U.S. auto safety regulator said on Friday it is opening an investigation into 73,000 Chevrolet Volt plug-in hybrid cars over reports of abrupt loss of power, failures to restart and other issues.
The National Highway Traffic Safety Administration said it was opening the preliminary evaluation into the 2016 through 2019 model year Chevrolet Volt after 61 complaints tied to the battery energy control module (BECM). Some complaints reported there was little to no warning before the loss of operating power or reduced power mode occurred. Continue reading “US opens probe into 73,000 Chevrolet Volt cars over loss of power”
Source : PTI | State-owned Gail India on Friday said it has initiated legal proceedings against a former unit of Russian energy giant Gazprom for non-delivery of LNG and has sought USD 1.817 billion in damages. In a stock exchange filing, the gas utility said it has filed an arbitration claim before the London Court of International Arbitration for “non-supply of LNG cargoes under long-term contract.”
GAIL in 2012 signed a 20-year deal to buy as much as 2.85 million tonnes per annum of liquefied natural gas (LNG) with Russian energy giant Gazprom.
Continue reading “GAIL seeks USD 1.8 bn from former Gazprom unit”
Source : PTI | Japanese auto major Toyota Motor Corporation on Friday announced a regional restructuring with India being integrated into its ‘Middle East, East Asia & Oceania Region’ operations and slotting the country to act as the hub of the new geography. As part of this development, Masakazu Yoshimura, MD and CEO of Toyota Kirloskar Motor (TKM) — the company’s joint venture in India with the Kirloskar group — will concurrently be the Regional CEO, Toyota Motor Corporation (TMC) said in a statement.
“Currently, as a part of the Asia Region, the Indian market already enjoys high priority. With this change, India will now play an even more crucial role by being integrated into the Middle East, East Asia & Oceania Region and acting as the hub of the new ‘India, Middle East, East Asia & Oceania Region’ starting January 1, 2024,” it said. Continue reading “India to act as Toyota’s new regional hub”
Source : PTI | New Delhi: India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. If the government has to consider providing incentives then it will only be for all EV makers and entrants who want to come to India, the official said.
The official added that inter-ministerial discussions have happened on the customs duty concession demand of the US-based electric car maker Tesla, but “we never” come to any conclusion on those. Continue reading “Will never give company-specific incentives in EV sector, govt official on Tesla’s demand”
Source : PTI | Cab aggregator Uber on Thursday announced the launch of its global flagship electric vehicle service Uber Green in Bengaluru which allows residents of the tech city to book sustainable and eco-friendly rides on their app. Karnataka Information Technology Minister Priyank Kharge flagged off the first Uber Green vehicles from the Bengaluru Palace on the sidelines of the Bengaluru Tech Summit.
The cab aggregator said Uber Green is now available in several parts of the city including most of central Bengaluru and that it will soon be extended to more parts of the city. Continue reading “Uber Green launched in Bengaluru; offers sustainable transport option”
BEIJING, Dec 1 (Reuters) – China’s electric vehicle giant BYD Co Ltd (002594.SZ) on Friday announced subsidies for some models and a discount of up to 20,000 yuan ($2,803) in December for buyers who are switching from oil to electric cars.
BYD in March set a target to sell 3 million vehicles by the end of this year, local media Yicai has reported. Continue reading “China’s BYD offers subsidies, discount for some models in December”
(Reuters) – Elon Musk is keen to achieve what no business leader has done before, from mass-producing electric cars to developing reusable space rockets. Now he is blazing another trail most chief executives have avoided: the profane insult.
The Tesla (TSLA.O) CEO told advertisers who have fled his social media platform X over antisemitic content to “Go fuck yourself!” in an interview on Wednesday.
Several business communications analysts said they couldn’t remember a similar case of an executive publicly cursing at their customers. The job of a CEO is to do deals, not burn bridges, they said. Continue reading “Trailblazer Elon Musk pushes a profane new frontier”
WASHINGTON, Dec 1 (Reuters) – A U.S. auto safety regulator said on Friday it is opening an investigation into 73,000 Chevrolet Volt plug-in hybrid cars over reports of abrupt loss of power, failures to restart and other issues.
The National Highway Traffic Safety Administration said it was opening the preliminary evaluation into the 2016 through 2019 model year Chevrolet Volt after 61 complaints tied to the Battery Energy Control Module (BECM). Some complaints reported there was little to no warning before the loss of operating power or reduced power mode occurred. Continue reading “US opens probe into 73,000 Chevrolet Volt cars over loss of power”
Dec 1 (Reuters) – Electric-vehicle maker Fisker (FSR.N) said on Friday it will scale down production this month and produce lesser cars this year than its previous guidance, to prioritize cash for working capital needs.
Shares of the EV maker, which has been struggling with a cash crunch, rose 7% in premarket. Continue reading “Fisker scales back production to divert cash for working capital”
WASHINGTON, Dec 1 (Reuters) – The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year.
In a win for automakers, the U.S. Treasury will temporarily exempt some trace critical minerals from new strict rules barring materials from China and other countries deemed a “Foreign Entity of Concern.” (FEOC) Continue reading “US to limit Chinese firms, battery parts from winning EV tax credits”
