(Reuters) – Porsche is recalling 27,527 electric sedans in the U.S. over concerns that they may face a short circuit within the battery module, the National Highway Traffic Safety Administration (NHTSA) said on Tuesday.
The recall affects Porsche’s 2021-2024 Taycan models, NHTSA said. Continue reading “Porsche to recall over 27,000 EVs in US over battery short circuit risk”
OSLO, Oct 8 (Reuters) – Sweden’s Northvolt said on Tuesday that one of its subsidiaries had filed for bankruptcy after the project it was developing was cancelled, while the rest of the cash-strapped battery making group continued to consolidate operations.
“All contacts with Ett Expansion AB will from now on be managed by the bankruptcy trustee,” Northvolt said. Continue reading “Northvolt says subsidiary files for bankruptcy after project pulled”
NEW DELHI, (Reuters) – China’s BYD wants to make cars in India but has received no “direct” signal from New Delhi on a possible easing of stringent investment rules for Chinese businesses, a top executive said, as the automaker seeks to expand in a fast-growing market.
BYD 002594.SZ, in partnership with a local firm, submitted a $1 billion investment proposal last year to build electric vehicles in India. But New Delhi is yet to approve the plan after increasing scrutiny of investments from China following a 2020 border clash between the arch rivals. Continue reading “China’s BYD wants to build cars in India, but has no ‘direct’ signal of investment rules easing”
(Reuters) – Uber Technologies will roll out an AI assistant powered by OpenAI’s technology to help drivers transition to electric vehicles, as part of its efforts to lower emissions.
The ride-hailing company has advocated a shift to EVs for several years and has pledged $800 million to support its driver partners’ switching entirely to EVs by 2040. Continue reading “Uber to launch AI assistant powered by OpenAI’s GPT-4o to help drivers go electric”
(Reuters) – Lyft is looking to make its ride-hailing platform more attractive to drivers by rolling out measures such as higher pay for longer-than-estimated trips and prioritizing members with a safe driving record.
Lyft is in fierce competition with Uber for both drivers and passengers. The two companies are trying to stay ahead of each other in their race to grab a bigger market share by offering a range of promotions, incentives and benefits on their platforms. Continue reading “Lyft unveils improved pay measures to attract more drivers”
Summary
DETROIT, (Reuters) – General Motors will seek to soothe shareholders’ worries on Tuesday that lagging demand for electric vehicles and perceived peak demand for gasoline-powered trucks will create a rough road ahead for the automaker. Continue reading “GM seeks to ease investor concerns as EV growth slows”
(Reuters) – Lucid Group beat market expectations for third-quarter deliveries on Monday, as discounts and cheaper financing options for its luxury electric vehicles boosted demand in an uncertain economy.
Shares of the company rose around 1.5%.
The company handed over 2,781 vehicles in the quarter ended Sept. 30, compared with estimates of 2,242 according to 8 analysts polled by Visible Alpha. Continue reading “Lucid beats quarterly deliveries estimate as price discounts boost demand”
(Reuters) – Japan’s Nissan Motor said on Monday it would invest an undisclosed amount in ChargeScape and roll out the battery charging technology company’s services to its electric-vehicle drivers across the United States and Canada.
After the transaction, Nissan will pick up a 25% stake in ChargeScape, becoming an equal investor in the joint venture that is currently equally owned by BMW, Ford and Honda. Continue reading “Japan’s Nissan to invest in auto tech firm ChargeScape”
Summary
WASHINGTON/DETROIT, (Reuters) – Chrysler parent Stellantis said on Monday it has filed eight additional lawsuits against the United Auto Workers and 23 local units, saying the union has violated its contract by threatening to strike over the company’s delays in planned investments. Continue reading “Stellantis files new lawsuits against United Auto Workers union”
BRUSSELS, (Reuters) – German Chancellor Olaf Scholz’s rejection of EU tariffs on Chinese electric vehicles failed to stop fellow European Union members voting in favour, exposing how a divided Berlin is struggling to drive EU policy.
Germany was one of only five EU members to reject tariffs after months of pressure from its carmakers, which rely on China for almost a third of their sales, allowing the European Commission to press ahead with anti-subsidy duties by the end of the month. Continue reading “EU backing for China EV tariffs shows Berlin’s waning influence”
(Reuters) – The U.S. Department of Justice said in a court filing on Monday that bankrupt electric vehicle maker Fisker’s plan to pass on the costs of vehicle recalls to customers is illegal.
Fisker filed for bankruptcy protection in June, with plans to sell its assets and restructure its debt in an attempt to salvage operations. Continue reading “Making customers pay for Fisker vehicles recall repairs is illegal, DOJ says”
Summary
(Reuters) – The U.S. Supreme Court declined on Monday to hear a challenge by Uber and Lyft to lawsuits by the state of California on behalf of drivers who signed agreements to keep legal disputes with the ride-hailing companies out of court in a legal fight over their status as contractors. Continue reading “US Supreme Court denies Uber, Lyft bid to avoid California driver suits”
Source : PTI | Servotech Power Systems on Monday said it has secured an additional order in Maharashtra to set up nine EV charging stations. With this, the total number of EV charging stations set up by the company will reach 29.
The additional orders have been secured from Nashik Municipal Corporation (NMC), the company said in a statement.
Summary
(Reuters) – Republican U.S. presidential candidate Donald Trump on Sunday said he would slap tariffs as high as 200% on vehicles imported from Mexico as he ratchets up his protectionist trade rhetoric ahead of the Nov. 5 election. Continue reading “Trump threatens a 200% tariff on vehicles imported from Mexico”
Summary
(Reuters) – Rio Tinto is in talks to buy lithium producer Arcadium with the global miner looking to pounce following a slump in prices for the ultralight metal used to make electric-vehicle batteries. Continue reading “Rio Tinto aims to snap up Arcadium before lithium prices recover”
MILAN, (Reuters) – Automaker Stellantis said on Monday it would start production of the new version of its best-selling Jeep Compass mid-sized SUV next year, at its Melfi plant in southern Italy.
The model will be based on Stellantis’ Medium platform, allowing for flexibility on different propulsion configurations. Continue reading “Stellantis to start production of new Jeep Compass in Italy in 2025”
BEIJING, (Reuters) – The European Commission’s decision to press ahead with tariffs on Chinese-made electric vehicles threatens to undermine decades of cooperation between China and the EU, and endangers climate-change goals, Xinhua news agency said on Saturday.
On Friday, the EU said it would push forward with hefty tariffs on China-made EVs, even after the bloc’s largest economy Germany rejected them. The dispute is its biggest trade row with Beijing in a decade. Continue reading “EU plan to press ahead with China EV tariffs bad for ties and green ambitions, Xinhua reports”
Summary
FRANKFURT, Oct 6 (Reuters) – The CEO of German carmaker Volkswagen said the European Union should consider adjusting planned tariffs against China-made electric vehicles to make allowances for investments made in Europe. Continue reading “VW CEO: Chinese automakers should be allowed to avert tariffs by investing in EU”
Source : PTI | Aditya Birla Group firm Hindalco Industries and Sajjan Jindal-led JSW Steel are in the race for two copper mines in Jharkhand which will be put on sale this month, sources said. Both mines have a combined capacity of three million tonne per annum.
Hindalco Industries and JSW Steel will be vying for state-owned Hindustan Copper Ltd’s two copper mines in Jharkhand, sources said. Continue reading “Hindalco, JSW Steel in race for copper mines in Jharkhand”
Source : PTI | To increase the usage of available raw materials, the Ministry of Steel has directed integrated steel players to make use of iron ore fines in steel making after its beneficiation. As per sources, the ministry has also suggested that players look at options like acquiring coking coal mines abroad.
This is aimed at increasing the availability of raw materials at competitive prices, they said. Continue reading “Govt asks major steel players to use iron ore fines also for steel making”
Source : PTI | Home grown EV charging solutions firm Exicom has acquired US-based DC fast charging technology company Tritium for USD 37 million, or about INR 310 crore, a senior company official said. Exicom managing director Anant Nahata told PTI that the company is setting up a manufacturing unit in Hyderabad where it will use DC (Direct Current) fast charging technology of Tritium to develop solutions for electric vehicles.
The Hyderabad facility is expected to be operational by the end of 2025.
Continue reading “Exicom acquires US EV charging company Tritium for INR 310 cr”
Source : PTI | Toyota Kirloskar Motor (TKM) was on Monday allotted 827-acre land for a new manufacturing plant in Maharashtra’s Chhatrapati Sambhajinagar, an official said. TKM on July 31 signed an agreement with the state government to set up a greenfield manufacturing facility for electric and hybrid cars.
“A greenfield smart industrial city was set up in the joint partnership of the Central and Maharashtra governments through a SPV (Special Purpose Vehicle) named the Maharashtra Industrial Township Limited (MITL). The nodes of Shendta and Bidkin are being developed,” the Delhi-Mumbai Industrial Corridor (DMIC) official told PTI. Continue reading “Toyota Kirloskar Motor allotted 827-acre land for new manufacturing unit in Maharashtra”
Source : PTI | Multi-brand pre-owned car firm Mahindra First Choice Wheels Ltd on Monday said Mohammed Turra has been appointed as its Managing Director and CEO. Turra succeeds Ashutosh Pandey, who will be taking on a new role within the Mahindra Group, the company said in a statement.
He brings over two decades of leadership experience across India, the Middle East, France and the US, spanning domains across consulting, financial services, FMCG, and the automotive industry, it added. Continue reading “Mahindra First Choice Wheels names Mohammed Turra as MD & CEO”
FADA President, Mr. C S Vigneshwar, shared his perspective on the auto retail performance for September 2024, stating, “The 2024 southwest monsoon recorded 8% above-normal rainfall—the highest in four years—which has boosted Kharif sowing by 1.5% YoY. This increase in agricultural productivity has positively impacted rural demand and economic sentiment.
Despite the onset of festivals such as Ganesh Chaturthi and Onam, Dealers have reported that the performance has been largely stagnant. This suggests that overall market sentiment during these festive periods has been underwhelming, with a trend leaning towards flat or negative growth. Continue reading “FADA Releases September’24 Vehicle Retail Data”
(Reuters) – Rivian Automotive has applied for a federal loan to enable the construction of its electric vehicle factory in Georgia, according to a filing by the U.S. Department of Energy.
While Rivian has applied for a loan, the department has not made a final decision and the filing did not disclose the requested amount or terms. Continue reading “Rivian applies for federal loan to restart Georgia EV factory construction”
(Reuters) – The U.S. Securities and Exchange Commission is investigating Fisker and has sent multiple subpoenas to the bankrupt EV maker, according to a filing by the regulator on Friday.
Fisker filed for bankruptcy protection in June, after burning through cash in an attempt to ramp-up production of its Ocean SUVs. Continue reading “EV startup Fisker faces probe by US securities regulator”
WASHINGTON/DETROIT, (Reuters) – Chrysler parent Stellantis filed a federal lawsuit against the United Auto Workers, saying the union has violated its contract by threatening to strike over the company’s delays in planned investment.
The automaker filed the suit on Thursday asking the U.S. District Court in the Central District of California to declare the decision by UAW Local 230 in Los Angeles to take a strike authorization vote violates terms of the contract reached last fall. Continue reading “Stellantis sues UAW in US federal court over strike threats”
(Reuters) – A U.S. auto safety regulator said on Friday it was investigating 368,309 Ford crossover SUVs in the country over loss of braking caused by rear brake hose failure.
The preliminary evaluation covers some Ford Edge crossovers from model years 2015-2017, the National Highway Traffic Safety Administration said. Continue reading “US regulator opens probe into more than 360,000 Ford SUVs over loss of braking”
Summary
BRUSSELS, (Reuters) – The European Union will press ahead with hefty tariffs on China-made electric vehicles, the EU executive said on Friday, even after the bloc’s largest economy Germany rejected them, exposing a rift over its biggest trade row with Beijing in a decade. Continue reading “EU presses ahead with Chinese EV tariffs after divided vote”
Source : PTI | German luxury carmaker BMW Group on Friday said its BMW and MINI brands recorded a 10 % year-on-year increase in sales, at 10,556 units in India during the January-September period of 2024. The number of cars (BMW and MINI) sold in the nine months of 2023 was 9,580 units.
Besides, the group also sold 5,638 units of Motorrad brand of motorcycles, the group announced here on Friday. Continue reading “BMW, MINI record 10 % sales growth in Jan-Sept”
SAN FRANCISCO, (Reuters) – Alphabet’s Waymo will add electric vehicles from South Korea’s Hyundai Motor to its robotaxi fleet, the companies said on Friday, as Waymo expands in the United States.
On-road testing for IONIQ 5 SUVs – assembled at Hyundai’s Georgia facility and equipped with Waymo’s autonomous technology – will begin by late 2025, they said. Continue reading “Alphabet’s Waymo to expand robotaxi fleet with Hyundai EVs”
Summary
(Reuters) – Rivian slashed its full-year production forecast on Friday and missed third-quarter deliveries expectations due to a parts shortage and slowing growth in electric-vehicle demand, sending shares of the startup down nearly 9%. Continue reading “Rivian lowers annual production forecast due to parts shortage, shares drop”
ROME, (Reuters) – Stellantis said on Friday it backed free and fair competition, stable rules and policies supporting demand after EU member states voted in favour of tariffs on China-made electric vehicles.
In a statement, Stellantis said it took note of the vote. Continue reading “Stellantis, after EU vote on China EV tariffs, says stable rules ‘more important than ever’”
(Reuters) – China called on the European Union on Friday to delay implementing tariffs on Chinese-made electric vehicles and avoid escalating trade frictions, state media reported.
China’s Chamber of Commerce to the EU expressed in a statement strong dissatisfaction with the EU for promoting “trade protectionism” measures. Continue reading “China urges EU to delay implementing tariffs on China-made EVs, state media says”
Summary
FRANKFURT, (Reuters) – Germany’s top carmakers on Friday urged Brussels and Beijing to avert looming tariffs on imports of Chinese-made electric vehicles through a negotiated deal, highlighting fears over what an escalating trade conflict will mean for business.
Earlier, the European Commission received enough support from EU member states to implement tariffs in a long-awaited vote pitting China-dependant economies such as Germany against member states with less exposure. Continue reading “EU tariff vote on China EVs a ‘fatal signal’ for sector, German carmakers warn, urging compromise”
Gurugram, Haryana, India – Business Wire India
• Customers can book the Windsor for INR 11,000 at their nearest MG dealership or by visiting www.mgmotor.co.in
• Equipped with a host of industry and segment-first features, the Windsor EV starts at an attractive price of INR 9.99L + INR 3.5/km
• Deliveries commence from October 12, 2024
MG Windsor EV, India’s 1st Intelligent CUV, received a significant customer response minutes after the bookings commenced on Thursday, October 3, 2024, at 7:30 am.
MADRID, (Reuters) – The European Union should seek a compromise and negotiated outcome with China, Spain said on Thursday, on the eve of a crucial EU vote on electric vehicle (EV) tariffs.
Instead of imposing tariffs, the EU should “keep negotiations open … beyond the binding vote” to strike a deal on prices as well as the relocation of battery production to the bloc, Economy Minister Carlos Cuerpo said in a letter to the European Commission Vice President Valdis Dombrovskis seen by Reuters. Continue reading “Exclusive: Spain calls for compromise with China ahead of EU vote on EV tariffs”
FRANKFURT, (Reuters) – Germany on Friday will vote against the introduction of European Union tariffs on Chinese electric vehicles, people with knowledge of the matter told Reuters on Thursday.
Germany abstained in a first non-binding vote in July on the European Commission’s proposal to impose the tariffs, but since then industry has pressured German Chancellor Olaf Scholz to vote against the measure in Friday’s vote by European Union member states. Continue reading “Exclusive: Germany to vote against EU tariffs on Chinese electric vehicles, sources say”
BRUSSELS, (Reuters) – European Union members face a pivotal vote on Friday on whether to impose tariffs of up to 45% on imports of Chinese-made electric vehicles in the bloc’s highest profile trade case, which risks retaliation from Beijing.
The European Commission, which oversees the bloc’s trade policy, proposed final duties for the next five years to counter what it sees as unfair Chinese subsidies after a year-long anti-subsidy investigation. Continue reading “EU governments face pivotal vote on Chinese EV tariffs”
Source : PTI | New Delhi: Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, is expected to launch its much-awaited INR 25,000-crore initial share-sale for public subscription on October 14, people familiar with the development said on Thursday. This would be the largest initial public offering (IPO) in India after LIC’s initial share sale of INR 21,000 crore.
According to the Draft Red Herring Prospectus (DRHP) filed in June, Hyundai Motor India’s proposed IPO is entirely an Offer-for-Sale (OFS) of 142,194,700 equity shares by promoter Hyundai Motor Company, with no fresh issue component. Continue reading “Hyundai Motor India may launch its INR 25,000 cr IPO on Oct 14”
