LONDON, (Reuters) – Carmakers said on Tuesday they will have to pay out nearly 6 billion pounds ($7.52 billion) in discounts and compliance costs to meet Britain’s electric vehicle sales mandate for 2024.
“Profitability and viability are in jeopardy and jobs are on the line,” Society of Motor Manufacturers and Traders (SMMT) CEO Mike Hawes warned in a statement. Continue reading “Carmakers say British EV sales mandate to cost them $7.5 bln in 2024”
WASHINGTON, (Reuters) – Tesla generated nearly 34 million metric tons of greenhouse gas credits in the 2023 model year by selling electric vehicles, as the auto industry racked up significant credit deficits in the face of more stringent emissions standards.
In a report first seen by Reuters, the Environmental Protection Agency said Monday new vehicle fuel economy increased by 1.1 miles (1.8 km) per gallon in 2023, reaching a record high 27.1 mpg (43.6 kpg). The EPA said fleetwide fuel economy is preliminarily projected to rise to 28 mpg (45.1 kpg)in the 2024 model year. Continue reading “Tesla racked up greenhouse emissions credits in 2023 as other automakers lagged”
Source : PTI | New Delhi, Transport assets worth approximately USD 575 billion in South Asia, including USD 400 billion in India, are exposed to climate hazards and rapid deployment of resilience measures needed to prevent risk to the sector which contributes significantly to the region’s GDP, according to a report. The South Asian region faces cascading economic losses due to climate risks, with disruptions in transport having cascading effects on key sectors such as manufacturing, agriculture, and services among others, as per the report jointly published by Boston Consulting Group (BCG) and Coalition for Disaster Resilient Infrastructure (CDRI). Continue reading “Transport assets worth USD 400 bn in India exposed to climate hazards: Report”
Summary
STOCKHOLM/GDANSK, (Reuters) – Northvolt’s financial collapse deals a blow to Europe’s plan to set up its own battery industry to power electric cars, stirring a debate about whether it needs to do more to attract investment as startups struggle to catch up with Chinese rivals. Continue reading “Northvolt crisis may be make or break for Europe’s EV battery ambitions”
STOCKHOLM, (Reuters) – Sweden’s Northvolt said on Thursday it will seek U.S. Chapter 11 bankruptcy protection as the cash-strapped battery start-up seeks to sort out its finances.
The company went in a matter of months this year from being Europe’s best shot at a home-grown electric-vehicle battery champion to racing to stay afloat, hobbled by production problems and as funding ran out. Continue reading “Northvolt goes from Europe battery promise to crisis”
Source : PTI | India is set to enter a transformative “smartphone era” for cars in 2025, with the introduction of vehicles featuring 5G M2M connectivity and advanced AI technologies, according to the latest findings from Techarc’s India Connected Consumer Report 2025. The report said the automotive sector will skip 4G and will enable connectivity using the latest 5G cellular technology.
It observed that consumers are interested in spending money on improving the value proposition in terms of features, quality and experience rather than exploring too many smart devices.
SHANGHAI, (Reuters) – China has told its automakers to halt big investment in European countries that support extra tariffs on Chinese-built electric vehicles, two people briefed about the matter said, a move likely to further divide Europe.
The new European Union tariffs of up to 45.3% came into effect on Wednesday after a year-long investigation that divided the bloc and prompted retaliation from Beijing. Continue reading “Exclusive: China tells carmakers to pause investment in EU countries backing EV tariffs, sources say”
DETROIT,(Reuters) – Ford Motor stock has tumbled about 8% so far this week after the company faltered on CEO Jim Farley’s mission to improve efficiency in its traditional gasoline-engine operations, whose profits the company needs to fund its expensive electric vehicle plans.
Quality and warranty problems, supplier issues and waste in the automaker’s 121-year legacy business have obscured its progress, Farley told analysts during a call to discuss quarterly earnings Monday. The automaker said annual results would be in the lowest range of its previous outlook. Continue reading “Ford investors impatient for the automaker to boost efficiency efforts”
SHANGHAI, (Reuters) – China has told its automakers to halt big investment in European countries that support extra tariffs on Chinese-built electric vehicles, two people briefed about the matter said, a move likely to further divide Europe.
The new European Union tariffs of up to 45.3% came into effect on Wednesday after a year-long investigation that divided the bloc and prompted retaliation from Beijing. Continue reading “Exclusive: China tells carmakers to pause investment in EU countries backing EV tariffs, sources say”
Summary
(Reuters) – Volkswagen and Germany’s IG Metall union will start their second round of negotiations on planned cuts to the carmaker’s German operations on Oct. 30, with unions insisting the company must keep all German sites open. Continue reading “Volkswagen, unions to start further talks on Germany cuts”
BERLIN, (Reuters) – The European Union wants a level playing field with China on car tariffs and is negotiating with Beijing on mechanisms such as price commitments or investments in Europe as a solution, European Commission chief Ursula von der Leyen said on Monday.
Speaking alongside German Chancellor Olaf Scholz in Berlin, she said negotiations with China would continue even if the EU’s tariffs on Chinese electric vehicles entered into force. Scholz expressed hope of reaching an agreement by the end of October. Continue reading “EU ‘wants level playing field’, but still negotiating with China on car tariffs”
Summary
NEW DELHI, (Reuters) – Indian billionaire Mukesh Ambani’s Reliance has argued that the telecom regulator incorrectly concluded that home satellite broadband spectrum should be allocated and not auctioned, a letter seen by Reuters shows, intensifying a face-off with Elon Musk’s Starlink. Continue reading “Reliance lobbies India minister on satellite spectrum in new face-off with Elon Musk”
Summary
BRUSSELS, (Reuters) – France, Greece, Italy and Poland will vote on Friday in favour of tariffs of up to 45% on imports of electric vehicles (EVs) made in China, sources said, enough to push through the European Union’s highest profile trade measures, risking potential retaliation from Beijing. Continue reading “EU has enough support to impose Chinese EV tariffs, sources say”
Summary
DETROIT/WASHINGTON, (Reuters) – European automakers are the most likely to be affected by the dockworkers strike at U.S. East Coast and Gulf Coast ports because they rely heavily on those locations, but a longer walkout could prove “debilitating” to the entire sector, industry officials and analysts said. Continue reading “European automakers most at risk from US dockworkers strike, analysts say”
Source : PTI | Ministry of Heavy Industries is working with auto industry associations SIAM and ACMA on Automotive Mission Plan 2047, which will pave the way for India to become an advanced industrial power, a top official said on Tuesday. Addressing an event to launch the PM E-DRIVE Scheme, Secretary in Ministry of Heavy Industries Kamran Rizvi said the PM E-BUS SEVA Payment Security Mechanism will also be rolled out shortly.
“PM E-DRIVE is not the terminal scheme. Another scheme of which we will hold the launch shortly is the PM E-BUS SEVA Payment Security Mechanism scheme,” the secretary said. Continue reading “Working on Automotive Mission Plan 2047 to make India advanced industrial power: Official”
Source : PTI | New Delhi: The National Green Tribunal (NGT) has sought a reply from the Union Ministry of Road Transport and Highways (MoRTH), Bureau of Indian Standards (BIS), and others in a matter regarding the use of cancer-causing chemicals in cars. The tribunal was hearing a matter where it had taken suo motu (on its own) cognisance of a media report regarding the use of two flame retardant chemicals inside cars – – TDCIPP and TCEP – which were carcinogenic.
In an order passed last week, a bench of NGT Chairperson Justice Prakash Shrivastava noted the reply of the Central Pollution Control Board (CPCB) that it did not have the facilities to test whether these substances were carcinogenic. Continue reading “Presence of carcinogenic chemicals in cars: NGT issues notice to BIS, MoRTH”
Source : PTI | India and the US have agreed to give impetus to sustainable aviation fuel, promote electrification of medium and heavy-duty vehicles and use of hydrogen in buses, tractors and heavy equipment, said a joint statement issued after the Strategic Clean Energy Partnership dialogue between the two nations. The two nations “welcomed increased investment in each country’s clean energy markets,” according to the statement issued after the Strategic Clean Energy Partnership (SCEP) Ministerial convened by US Energy Secretary Jennifer Granholm and Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri in Washington DC on Monday.
“While recognising the need to work towards a just, orderly and sustainable energy transition, which prioritises access to reliable, affordable, and clean energy supplies, the (two) sides welcomed the important role that energy trade plays in supporting the national priorities of both countries,” the statement said.
Continue reading “India, US for giving push to sustainable aviation fuel, hydrogen in buses”
HANOVER, Germany, (Reuters) – Major manufacturers, such as Daimler Truck and Traton, displaying their trucks at a transportation fair in Hanover this week say they are ready to go electric, but their e-trucks will not sell without massive investments in charging infrastructure.
Christian Levin, chief of Volkswagen’s truck subsidiary Traton, which owns such brands as Scania, MAN, Navistar, and Volkswagen Trucks and Buses, said the European Union’s goal of reaching a 50% share of e-trucks 2030 for now looks out of reach. “It’s not just about cost, it’s also about charging infrastructure, permissions, green electricity, supply of green electricity, and of course pricing. All of that needs to come together,” he told Reuters in an interview. Continue reading “Truckmakers say they are ready to go electric, but what about charging?”
BEIJING, (Reuters) – China is disappointed at the EU Commission for ignoring efforts by industry to find solutions, the Chinese commerce ministry said on Friday, after the bloc rejected offers from electric vehicle makers for minimum import prices.
The European Commission said it had received offers from electric vehicle makers in China for minimum import prices into Europe as a way of avoiding hefty tariffs but had rejected them. Continue reading “China disappointed at EU ‘ignoring’ tariff efforts”
New Delhi, 10 September 2024: At the 64th Annual Convention of Society of Indian Automobile Manufacturers (SIAM) today, the industry focused on “Sustainable Mobility Journey towards Viksit Bharat” wherein prominent leaders and policymakers discussed the pivotal role of sustainable mobility in achieving Viksit Bharat goals by 2047.
In his special message, Hon’ble Prime Minister of India, Shri Narendra Modi, emphasized on the need for the Automobile sector to set an example for others to follow and said, “The road ahead demands that our progress is rapid while also being sustainable. Working on greener and cleaner mobility is a vital step in this direction”. Continue reading “Hon’ble Prime Minister Highlights Vision for Sustainable Mobility at SIAM’s 64th Annual Convention”
New Delhi, August 29, 2024: The 11th World Auto Forum (WAF) Awards Presentation Ceremony was an unforgettable evening that celebrated the finest achievements in the automotive and mobility industries. Held with great fanfare, the event brought together key industry players, innovators, and thought leaders from across the globe.
The WAF Awards are recognised for their unparalleled rigour and transparency. A dedicated research team from DMS, IIT Delhi plays a crucial role in supporting the jury’s selection process each year, ensuring highest standards are maintained. The jury, composed of industry veterans and experts, use a multi-tiered evaluation process that includes extensive analysis of performance metrics, innovations, and contributions to Marketplace, Business & Society.
New Delhi, August 29, 2024 – In a rapidly evolving world of technology, AI, Blockchain, and Cloud Computing are no longer futuristic concepts—they are integral to the automotive and mobility sectors. The 8th WAFit! Summit 2024, held at Aerocity, New Delhi, united industry leaders and experts to explore these transformative technologies. The summit offered valuable insights into the application, challenges, and future potential of these innovations in shaping the industry.
We keep working hard, really hard. So many days, weeks away from home and family! Manage, fix and conquer so many situations and challenges! Gather all kinds of experiences, exposures, skills, knowledge – Subject matter, Domain, Functional and then suddenly one fine day, we realise….
A set of new techs are busy disrupting our career, our position, our place, ‘our relevance’ in the Organisation, Business Ecosystem and the World!
Many a times we tend to ignore the initial symptoms just like any other physical ailment and then it strikes hard, really hard and it feels sudden but it never was….We allowed the Build Up…
Getting superseded, Missing a promotion or worse, a notice period or an instant pink slip!
Continue reading “A for AI, B for Blockchain, C for Cloud | Time to Learn the New ABC of Tech”
Tax Rate for Assessment Year 2025-26 and Financial Year 2024-25
Continue reading “India’s Top CA Demystifies Union Budget 24-25 in 12 Simplified Shots”
GENERAL
China’s EV battery giants CATL and BYD are eyeing the growing market for stationary energy storage.
Here are the numbers behind their energy storage business:
CATL has ranked first globally in terms of battery deliveries for energy storage since 2021 with more than 40% of the global market share, according to its annual report. It counts among its major clients state-owned power companies such as Huaneng as well as top energy storage system manufacturers including Sungrow Power Supply. Continue reading “How China’s EV battery makers stack up in energy storage”
Summary
BEIJING, (Reuters) – China announced the next step in its anti-dumping investigation into European brandy imports on Friday, ramping up tension on the day the European Commission’s provisional tariffs on Chinese-made electric vehicles take effect. Continue reading “China steps up pressure with EU brandy probe hearing as EV tariffs begin”
TOKYO, (Reuters) – Four of Japan’s top property and casualty insurers and other financial firms plan to sell around 500 billion yen ($3.1 billion) of shares in Honda Motor, three people said, as the unwinding of cross-shareholding practices accelerates.
Tokio Marine Holdings Sompo Holdings and two units of MS&AD Insurance Group will together offload shares in the automaker, said the people, who declined to be identified because the information has not been made public. Continue reading “Exclusive: Major Japanese insurers to offload $3.1 billion of Honda shares”
BERLIN/FRANKFURT, (Reuters) – Volkswagen, Europe’s biggest carmaker, plans to spend as much as $5 billion on an electric vehicle (EV) software partnership with U.S.-based Rivian.
Here are some of the key issues around the deal:
The tie-up is the latest in a string of deals by Volkswagen Chief Executive Oliver Blume, who took over in September 2022 after the ousting of Herbert Diess. Continue reading “What’s behind Volkswagen’s $5 bln EV software bet on Rivian?”
The White Ambassador car used for carrying out attack on the Indian Parliament in 2001 was bought from the Karol Bagh used car market and had a Fake Registration Plate.
Continue reading “So, What’s Wrong with the Car Registration Plates at NCR- Delhi ?”
DETROIT, (Reuters) – The Biden administration’s plan to slap heavy new tariffs on Chinese electric vehicles and batteries would provide temporary protection for U.S. auto jobs, potentially at the expense of White House efforts to fight climate change by accelerating U.S. EV adoption.
Few Chinese-made EVs are currently sold in the United States, so the immediate impact on consumers of higher EV tariffs would be minimal, analysts said. The White House also plans to more than triple tariffs on Chinese EV batteries and battery parts to 25%. Graphite, permanent magnets used in EV motors and other EV minerals would get new 25% duties added. These tariffs could affect a broader range of vehicles. Continue reading “A US-China EV trade war threatens Biden’s clean-car agenda”
BEIJING, (Reuters) – China’s measured response to the U.S. move to hike tariffs on $18 billion of Chinese goods from syringes to batteries suggests relations between the world’s two largest economies face more frost rather than a fresh firefight over trade.
China denounced the Biden administration’s action and vowed “resolute measures” to protect its interests. Continue reading “‘What doesn’t kill you makes you stronger,’ China trolls new US tariffs”
WASHINGTON, (Reuters) – The Biden administration’s new tariffs on Chinese electric vehicles and other strategic sectors aim to protect the future of U.S. manufacturing, but they will likely accelerate a shift of Chinese production to Mexico, Vietnam and elsewhere to avoid them.
U.S. officials and trade experts say that without strong efforts to cut off transshipped or lightly processed Chinese goods from Mexico and other countries, China’s underpriced excess production will still find its way into U.S. markets. Continue reading “Biden’s new China tariff wall faces leakage via Mexico, Vietnam”
Commenting on sales data of April 2024, Mr Vinod Aggarwal, President, SIAM said, “Year 2024-25 has started on a reasonably good note for the Auto industry, as all the segments have posted growth in April 2024, compared to April 2023, driven by positive consumer sentiments and festivities in this month. Above normal monsoon rainfall, policy continuity post-elections and Government’s push on manufacturing and infrastructure would propel the overall economic growth which would help in continuing the Auto sector’s growth trajectory.” Continue reading “India Automobile Sales Performance -April-2024”
TOKYO, (Reuters) – Honda Motor Co said on Friday it would increase R&D spending this financial year by nearly a quarter to boost its competitive edge in hybrid and other electrified vehicles, as it forecast a 2.8% rise in operating profit for 2024/25.
Japan’s second-largest automaker by volume announced a share buyback worth up to 300 billion yen ($1.93 billion) after beating analysts’ fourth quarter earnings estimates, helped by strong sales growth in the United States, which offset a decline in China. Continue reading “Honda ramps up R&D spending as it expands hybrid push”
WASHINGTON, (Reuters) – The U.S. could take “extreme action” and ban Chinese connected vehicles or impose restrictions on them, Commerce Secretary Gina Raimondo said on Wednesday, in the first indication a ban could be on the table after a national security investigation.
The Commerce Department is reviewing public comments that were due by April 30, Raimondo told Reuters, on a probe the Biden administration launched in February into whether Chinese vehicle imports pose national security risks. Continue reading “US could ban Chinese connected vehicles or impose restrictions”
Every OEM will need to incorporate solutions to manage their spare parts as repairs and replacement of spare parts are inevitable. Traditionally, OEMs would manage this complex process manually and finding the spares is often deemed time and cost intensive. This process would not only require dedicated workforce but also needed constant checks and audits to ensure there are the right spare parts. Continue reading “Spare Parts Management Made Easy: 10 ways, a Parts Catalog Software can Metamorphose this Process”
