TOKYO, (Reuters) – Japan’s Toyota Motor has slashed its electric vehicle production plans for 2026 by a third, the Nikkei business daily reported, becoming the latest automaker to roll back electric car plans as EV sales momentum wanes.
The world’s biggest automaker now plans to build 1 million EVs in 2026, compared with the company’s earlier announced sales target of 1.5 million, it said. Continue reading “Toyota cuts 2026 global EV output plans by a third, Nikkei reports”
WASHINGTON, (Reuters) – A bipartisan group of lawmakers asked the CEOs of six major auto parts retailers if they bought products from a Chinese company that may have evaded U.S. tariffs, according to letters seen by Reuters on Friday.
Representative John Moolenaar, a Republican who chairs a House panel on China, and the committee’s top Democrat Raja Krishnamoorthi, along with other lawmakers, asked AutoZone, O’Reilly Auto Parts, Genuine Parts, Advance Auto Parts, First Brands Group, and Factory Motor Parts to address concerns they are purchasing parts from China’s Qingdao Sunsong and its U.S.-based subsidiary. Continue reading “Lawmakers probe if US retailers bought Chinese auto parts that evaded tariffs”
Summary
BERLIN/FRANKFURT, (Reuters) – In May, Volkswagen (VOWG_p.DE), opens new tab finance chief Arno Antlitz warned that Europe’s top carmaker had about two or three years to prepare for cut-throat competition from abroad, mainly China. Continue reading “China, price cuts and costs: the fuel driving Volkswagen’s crisis”
Source : PTI | German luxury car maker Mercedes-Benz India on Thursday said India has the potential to become one of the top five markets for its Maybach brand of cars in sales volume. Launching the electric version of its first-ever all-electric Mercedes-Maybach in India, the company’s managing director and CEO Santosh Iyer said the launch of the new car models -Mercedes-Maybach EQS 680 SUV manifests the firm’s ambition to lead in digital and electric mobility with a focus on ultra-luxury segment.
The Maybach EQS 680 SUV starts at INR 2.25 crore onwards (all India ex-showroom). Continue reading “India to become one of top five markets for Maybach brand: Mercedes”
New Delhi – September 6th, 2024 : Revfin, India’s leading EV financing company, has advanced its sustainable mobility strategy by taking over 15,000 vehicles, valued at Rs. 100 Crore, operating on the SUN Mobility platform. This significant move highlights Revfin’s dedication to accelerating electric vehicle adoption and transforming fleet operations across India. The portfolio is set to play a pivotal role in enhancing Revfin’s operations and influence in the country. The announcement was jointly made by Mr. Sameer Aggarwal, Founder & CEO, Revfin and Anant Badjatya, CEO of SUN Mobility, underscoring the collaborative efforts between the two companies to advance the electric mobility agenda.
This deal not only broadens Revfin’s operational footprint but also reinforces Revfin’s commitment to expanding its mobility business vertical, with a strategic focus on driving EV adoption among fleet operators. Continue reading “Revfin Accelerates EV Expansion with Takeover of 15,000 Vehicles operating on SUN Mobility’s Platform”
Source : PTI | Travel booking platform EasyMyTrip.com on Thursday announced it is venturing into the electric bus manufacturing market through its new subsidiary Easy Green Mobility. Easy Green Mobility will manufacture EV buses, with YoloBus (another subsidiary of EaseMyTrip) serving as its operating arm.
EaseMyTrip is investing INR 200 crore for extensive R&D, product development, and setting up a manufacturing plant over a period of 2-3 years.
Continue reading “EaseMyTrip ventures into electric bus manufacturing”
Summary
BERLIN, (Reuters) – Germany’s biggest union pledged to leave no idea unexplored, including a move to a four-day week, to counter Volkswagen management’s threat of closing domestic plants for the first time in its history and dissolving decades-old job guarantees. Continue reading “Unions pledge to leave ‘no idea unexplored’ in tackling VW crisis”
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11th WAF Awards Winners Featured in The Economic Times! WAF
WAF Powers Discussion on Smart Mobility with Top Industry Leaders & Startups WAF
Continue reading “WAF Auto News | The Auto World This Week (6th September 2024)”
Mumbai: Volkswagen India announced its partnership with Red Bull and its top wakeboarding athlete Dominik Hernler, in his attempt to create history with a momentous jump over five traditional snake boats in the backwaters of Kerala. Powering Hernler’s brilliance, the Volkswagen Taigun GT Plus Sport displayed extreme performance, accelerating powerfully over smooth and rough surfaces. Continue reading “Volkswagen India Partners With Red Bull Showcasing Sporty Athleticism at Its Best With Wakeboarder Dominik Hernler’s Historic Feat”
Summary
(Reuters) – Piedmont Lithium has pulled its application for a debt package from a popular U.S. government loan program and is scaling back ambitious expansion plans across two continents, as tumbling prices of the electric vehicle battery metal force the U.S. miner to conserve cash. Continue reading “Piedmont Lithium pulls US government loan application as prices slump”
(Reuters) – Tesla shares rose 2.6% before the bell on Thursday after the electric automaker stuck to its plans to launch the Full Self-Driving (FSD) advanced driver assistance software in China and Europe pending approval from regulators.
This comes about a month ahead of the company’s unveiling of its robotaxi product, “Cybercab”, underpinned by the technology that helps drivers accelerate, brake and steer in cities and highways with human supervision. Continue reading “Tesla shares gain on plans to launch Full Self-Driving in Europe, China”
STUTTGART, (Reuters) – Daimler Truck expects a further slowdown in demand for commercial vehicles and its new CEO must take measures to adjust for that, the German company’s Chairman Joe Kaeser said on Thursday.
“Our profitability is not yet where competitors are, that has to change in the medium to long term”, Kaeser told a press conference after Karin Radstrom was announced as the company’s next CEO late on Wednesday. Continue reading “New CEO must adapt Daimler Truck to weaker market, chairman says”
BERLIN, (Reuters) – BMW aims to bring its first hydrogen-powered vehicle onto the market in 2028, using fuel cell technology developed with Toyota Motor Corp, the German carmaker said on Thursday.
The company said the vehicle would be an existing model with a hydrogen fuel cell drive option, without giving further details. It also did not give details on price or production volume. Continue reading “BMW plans to bring its first hydrogen car onto the market from 2028”
(Reuters) – Swedish automaker Volvo Cars slashed its margin and revenue ambitions for a second time in a year on Thursday, a day after it abandoned its EV-only target as the impact of tariffs and reduced demand for electric vehicles continue to hurt.
Slowing demand for EVs, partly due to a lack of affordable models, as well as the effects of EU, U.S. and Canadian tariffs on electric cars made in China have made market conditions increasingly difficult for automakers. Continue reading “Volvo Cars scales back margin and revenue ambitions”
Source : PTI | New and Renewable Energy Minister Pralhad Joshi on Wednesday stressed on the need to bring startups into the green hydrogen sector to bring new ideas and involve youth. Addressing a curtain raiser of the second International Conference on Green Hydrogen India 2024, Joshi said that there will be over 120 exhibitors in the event which is scheduled on September 11-13, 2024 in Delhi.
He said for pushing green hydrogen mission, we need to bring startups as it needs young blood and new ideas. Continue reading “Need to bring startups to boost green hydrogen: Pralhad Joshi”
Source : PTI | Union minister Nitin Gadkari on Wednesday said two-wheeler manufacturers should provide helmet to the purchaser of the vehicle at a discount or reasonable rate as many people die in road accidents just for not wearing helmets. Addressing an event here, Gadkari said 50,029 people lost their lives in accidents in the country in 2022 when they were not wearing helmets.
“I am thinking of requesting two-wheeler manufacturers… if they can give some reasonable discount on helmets to the purchaser of the vehicle then we can save the life of the people,” he said. Continue reading “Two-wheeler makers should provide helmets to vehicle buyers at a discount: Nitin Gadkari”
(Reuters) – The United Auto Workers said on Wednesday that a battery manufacturing joint venture between General Motors and LG Energy Solution has agreed to recognize the union at a Tennessee plant.
The UAW said a majority of the employees at the Ultium Cells facility signed cards to join the UAW and the company had agreed to recognize the union after workers at an Ohio Ultium plant overwhelmingly voted to join the union in 2022 and won a new contract earlier this year with significant wage hikes. Continue reading “GM battery joint venture agrees to recognize UAW at Tennessee plant”
WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration said on Wednesday it has closed an engineering analysis into General Motors prior recall of more than 1.3 million of its vehicles in the United States for seat belt issues.
NHTSA first opened a probe in 2019 into GM’s 2014 recall over the detachment of the flexible steel seat belt anchor Continue reading “NHTSA closes probe into GM recall of 1.3 million vehicles over seat belt issues”
Summary
STOCKHOLM, (Reuters) – Swedish automaker Volvo Cars scrapped its target of going all electric by 2030 on Wednesday, saying it now expected to still be offering some hybrid models in its lineup at that time. Continue reading “Volvo Cars abandons 2030 EV-only target”
Summary
WOLFSBURG, Germany, (Reuters) – Volkswagen has “one, maybe two” years to turn its main car brand around, its finance chief said on Wednesday, as the auto giant weighs its first ever plant closures in Germany and its powerful unions threaten a fight. Continue reading “Volkswagen warns time running out as it clashes with workers over cuts”
SAO PAULO, (Reuters) – General Motors said on Wednesday that it would begin producing its first-ever hybrid-flex vehicles that can run on 100% ethanol or gasoline alongside their batteries in Brazil.
Rival automakers Stellantis and Honda ave also announced plans this year to launch hybrid-flex vehicles in the South American country, where most cars can run on 100% biofuel made from sugarcane or corn due to the strength of its large ethanol industry. Continue reading “GM to launch its first ethanol-capable hybrid-flex vehicles in Brazil”
Summary
YOKOHAMA, Japan, (Reuters) – BYD is rolling out electric-vehicle charging stations and ramping up marketing and customer incentives in Japan, aiming to boost sales in a market that has become a stumbling block in the Chinese automaker’s global expansion. Continue reading “BYD’s global expansion push runs into stiff Japan test”
Electric vehicles (EVs) have swept the automotive industry and are slowly taking over. EVs are a more efficient, sustainable, and economical transportation option. The demand for EVs has only increased due to the sustainability factor and the significantly reduced carbon footprint. According to a report by the International Energy Agency (IEA), there were about 10 million electric cars in 2010 and this number is only going to increase.
As EVs are fairly new in the market, building customer trust is an essential factor. Delivering a machine that works efficiently is important. Through this blog we will be talking about pre-delivery inspections (PDI), the transition from traditional delivery inspections to software-driven inspections and their benefits. Continue reading “Automating EV Delivery Inspections: Benefits of Software-Driven Automation”
(Reuters) – Automaker Stellantis on Tuesday named Bob Broderdorf as the head of Jeep North America.
Broderdorf, who previously served as senior vice president for the company’s Ram brand operations and head of sales operations at Dodge, will now be overseeing strategy, sales and marketing for Jeep in the United States, Canada and Mexico. Continue reading “Stellantis names new head of Jeep North America, makes other executive changes”
Summary
BEIJING, (Reuters) – China said on Tuesday it planned to start an anti-dumping investigation into canola imports from Canada, after Ottawa moved to impose tariffs on Chinese electric vehicles, lifting prices of domestic rapeseed oil futures to a one-month peak. Continue reading “China hits Canada with anti-dumping probe on canola imports, Ottawa deeply concerned”
Source : PTI | New Delhi: Maruti Suzuki India on Tuesday said it has donated INR 3 crore to the PM CARES fund for flood relief across various states. The company’s contribution aims to support the government’s relief and rebuilding efforts across the country, the auto major said in a statement.
“We stand in solidarity with the individuals and families affected by the recent natural calamities. In times of crisis, it is a collective responsibility to stand together and rebuild,” Maruti Suzuki India MD and CEO Hisashi Takeuchi said.
Continue reading “Maruti contributes INR 3 cr to PM CARES fund for flood relief”
Source : PTI | New Delhi: Delhi Transport Minister Kailash Gahlot on Monday called gig workers of food delivery companies as ‘Pradushan Yodha’ (warriors against pollution) as he spoke about the importance of electric vehicles. Addressing thousands of delivery partners, commonly known as ‘gig workers’, at an event organised by delivery companies Zomato and Blinkit at Talkatora Stadium, he called them the backbone of India’s economy.
“You are ensuring that millions of people can receive household essentials in minutes and enjoy meals from their favourite restaurants with just a click. Your dedication keeps our cities running smoothly.
Source : PTI | New Delhi: In a bid to ensure road discipline on highways and roads, the S. A bench of Justices Abhay S Oka and Augustine George Masih directed Delhi, West Bengal, Maharashtra, Tamil Nadu, Karnataka, and Kerala to apprise the court of the steps taken to comply with Section 136A read with Rule 167A of the Motor Vehicles Act.
It said after the state government and Union territories decide about the use of electronic enforcement devices for issuance of challans, they shall ensure that fines for violation of provisions of the MV Act are made based on footage from electronic devices.
Source : PTI | Sixty-six % of road traffic deaths in Southeast Asia are of pedestrians, motorised two-wheeler riders and cyclists while the highest traffic fatalities in India are among two- and three-wheeler riders, according to the latest WHO report. The “WHO South-East Asia Regional Status Report on Road Safety” was launched during “Safety 2024”, the 15th World Conference on Injury Prevention and Safety Promotion, 2024.
According to the World Health Organization (WHO), globally, 30 % of reported road traffic deaths involved users of powered two- and three-wheelers. Continue reading “Pedestrians, cyclists, two-wheeler riders constitute 66 % of road fatalities in Southeast Asia: WHO”
Summary
BEIJING, (Reuters) – China said on Tuesday it plans to start an anti-dumping investigation into canola imports from Canada, after Ottawa moved to impose tariffs on Chinese electric vehicles, lifting prices of domestic rapeseed oil futures to a one-month peak. Continue reading “China hits Canada with anti-dumping probe on canola imports in response to EV tariffs”
(Reuters) – Electric vehicle maker Polestar said on Tuesday it has appointed former Stellantis finance executive Jean-Francois Mady as its CFO, days after replacing long-time CEO Thomas Ingenlath.
This marks the fourth executive change at the Geely-backed EV maker in the past few months as it looks to battle fresh tariffs in the European Union and rising competition from U.S.-based Tesla and legacy automakers. Continue reading “EV firm Polestar taps former Stellantis finance executive as CFO”
SHANGHAI, (Reuters) – Tesla plans to produce a six-seat variant of its Model Y car in China from late 2025, two people with direct knowledge of the matter said, as the U.S. automaker strives to increase the appeal of its best-selling yet aging electric vehicle (EV).
Tesla has asked suppliers to prepare accordingly for a double-digit increase of Model Y output at its Shanghai factory, said one of the people, who declined to be named as the plan is not public. Continue reading “Exclusive: Tesla plans six-seat Model Y, production slated for 2025 in China, sources say”
Summary
BERLIN/FRANKFURT, (Reuters) – Volkswagen boss Oliver Blume, already battling slowing demand for electric cars and Chinese rivals, must now put aside his mantle as team player to tackle yet another tough opponent, Germany’s powerful labour unions. Continue reading “From peace-maker to taboo-breaker, VW boss Blume takes on the unions”
BERLIN, (Reuters) – An electric vehicle made in China by Volkswagen’s CUPRA brand would be “wiped out” if the European Commission followed through with planned import tariffs of 21.3% on the vehicle, the brand’s CEO told Reuters.
Raising the price of the Tavascan, an all-electric SUV selling for around 52,000 euros ($57,500), to cover the costs was not an option in the current European economic environment, said Wayne Griffiths, who heads up the SEAT and CUPRA brands under Volkswagen’s SEAT S.A. subsidiary. Continue reading “Exclusive: Volkswagen’s CUPRA ‘at risk’ from planned EU tariffs, says brand CEO”
PARIS,(Reuters) – France’s new car registrations entered a decline last month, as concerns over the economy weigh on consumer appetite.
New car registrations in August plunged 24.3% compared with the same month a year ago, data from French car lobby Plateforme de la filière automobile (PFA) showed on Sunday, while registrations for the first eight months of the year shrank by 0.5%. Continue reading “France’s car sales shrink as political turmoil weighs”
QUITO, (Reuters) – General Motors’ factory in Ecuador will shutter production on Friday amid pressure from local competitors, but will still sell vehicles in the Andean country.
The Cadillac and Chevrolet maker said in April it would close its production operations in Ecuador and neighboring Colombia. Continue reading “General Motors Ecuador factory closes doors for good”
BERLIN,(Reuters) – German automaker BMW is recalling electric Mini Cooper SE vehicles due to problems in their batteries, which could potentially affect more than 140,000 autos worldwide, a company spokesperson told Reuters on Monday.
Around 39,000 vehicles could be affected in Germany, the company said in a statement on Monday, adding that there are no known accidents or injuries in this context. Continue reading “BMW worldwide recalling Mini Cooper SE electric models, company says”
Summary
BERLIN, (Reuters) – Volkswagen is considering closing factories in Germany for the first time, in a move that shows the mounting price pressure Europe’s top carmaker faces from Asian rivals. Continue reading “Volkswagen considers historic German plant closures in cost drive”
Source : PTI | The Maharashtra government has hiked fees for “choice numbers,” commonly known as VIP numbers, for new vehicles, which will translate into revised INR 6 lakh charge for the most sought-after ‘0001’ number for four-wheelers in high-demand areas like Mumbai, Pune, and other cities. Interestingly, the new fees mean that an out-of-series VIP number will cost up to INR 18 lakh in major cities including Mumbai and Pune, which incidentally is the cost of new cars in the mid-segment.
As per the transport department’s notification dated August 30, the cost for the coveted number ‘0001’ will rise to INR 5 lakh for four-wheelers, up from the current INR 3 lakh. For two and three-wheelers, the fee will increase to INR 1 lakh, doubling from the existing INR 50,000.
Source : PTI |New Delhi: Union Minister Nitin Gadkari on Monday said state finance ministers should consider reducing Goods and Services Tax (GST) on flex-fuel vehicles to 12 % in the GST Council meeting. Addressing IFGE’s India Bio-Energy & Tech Expo, Gadkari also said there is a need to reduce imports of fossil fuels and encourage the use of biofuel.
“We need support from finance ministers of different states. The (Union) finance minister assured me that we will try to convince all the finance ministers. Continue reading “Gadkari asks state FM’s to consider reducing GST on flex-fuel vehicles to 12 %”
