Source : PTI | New Delhi: The domestic demand for EV chargers is likely to grow at a CAGR of 65% to reach the 3 million unit mark by 2030, according to a report. More than 17,000 units of electric vehicle (EV) chargers were sold in 2021, the joint report of Customized Energy Solutions(CES) and India Energy Storage Alliance (IESA) said.

The Indian EV charger market is poised to expand at an impressive CAGR of 65% between 2022 and 2030 to achieve annual sales of 3 million units to meet the requirement of chargers to meet the national EV scenario (NEV) by 2030, the report titled ‘India Electric Vehicle Charging Infrastructure & Battery Swapping Market Overview’ said. Continue reading “Demand for EV charger to grow at 65% CAGR by 2030”

BELLEVILLE, Michigan, Sept 26 (Reuters) – President Joe Biden on Tuesday joined a picket line with striking autoworkers in Michigan, supporting their call for a 40% pay raise and saying they deserve a “lot more” than they are getting.

Biden’s appearance, the first visit by a U.S. president to striking workers in modern history, comes a day before Donald Trump, the Republican front-runner for president, will speak to auto workers in Michigan. The rare back-to-back events highlight the importance of union support in the 2024 presidential election, even though unions represent a tiny fraction of U.S. workers. Continue reading “Biden says UAW should fight for 40% pay raise in Michigan strike visit”

MUNICH, Sept 6 (Reuters) – China’s electric vehicle industry leaders from policy adviser and ‘father of EVs’ Wan Gang to the heads of carmakers BYD and Nio and battery maker CATL called for stronger global cooperation and standardisation in policy to ease the technological transition.

Wan, a key figure in leading China’s development of electric vehicles, said efficient batteries, better EV architectures and intelligent driving systems were the three key technologies required to boost EV uptake. Continue reading “Chinese auto executives and ‘father of EVs’ urge global cooperation”

MUNICH, Sept 6 (Reuters) – BYD (002593.SZ) chairman and president Wang Chuanfu told German auto executives at a conference in Munich on Wednesday there was room for more cooperation in the electric vehicle transition, echoing a series of Chinese EV startups calling for partnerships.

“We believe there is more space to cooperate and work together with German counterparts … we want to invite partners from Germany to join BYD to promote green transport,” Wang Chuanfu said, speaking at the World New Energy Vehicle Congress. Continue reading “BYD calls for more cooperation with German automakers”

LONDON/DETROIT/MILAN, England, Sept 6 (Reuters) – A global shortage of technicians and independent repair shops qualified to fix electric vehicles (EV) threatens to increase repair and warranty costs for drivers, potentially undermining upcoming deadlines to cut vehicle carbon emissions.

From Milan to Melbourne to Malibu, technician training organizations, warranty providers and repairers say that independent repair shops will be vital for making EVs affordable because they are far cheaper than franchise dealers. Continue reading “EV broken? Finding a technician to fix it may take a while”

Aug 29 (Reuters) – Elon Musk has championed Tesla Inc’s (TSLA.O) driver assistance Autopilot and “Full Self-Driving” software as innovations that will both improve road safety and position the electric vehicle maker as a technology leader.

But the Tesla systems – and Musk’s claims about them – face their biggest challenge since the launch of Autopilot in 2015 as a series of lawsuits over fatal Tesla accidents head to court starting next month and a federal probe into Autopilot nears an end. Continue reading “Factbox: Tesla’s Autopilot faces unprecedented scrutiny”

Source : PTI | India’s automotive industry is poised to rank number three in the world by 2030, with various schemes like the INR 25,938 crore PLI for Automobile and Auto Components supporting the sector’s growth, the government said on Monday. Ministry of Heavy Industries (MHI) is organising a conference on Tuesday to review the performance of the Production Linked Incentive -Auto Scheme. The meeting with stakeholders will be chaired by Heavy Industries Minister Mahendra Nath Pandey.

The event shall have special focus on understanding the opportunities available through this scheme. Continue reading “India’s auto industry poised to rank number 3 in world by 2030: Govt”

To truly realize the full potential of Artificial Intelligence (AI), we need to figure out a way to embrace AI so that we can innovate faster while at the same time protect privacy, said Mr N Chandrasekaran, Chair, B20 India and Executive Chairman, Tata Sons, India. Mr Chandrasekaran said that having the right digital infrastructure like cloud, data centre, digital devices for everyone, etc is fundamental to make a large impact. He was speaking during Plenary Session 2 on ‘AI for Business and Societies: Opportunities and Regulations’ at the B20 Summit India 2023 in New Delhi on 25 August. The summit was organized by CII, the Secretariat for the B20 India. Continue reading “Need to embrace AI, innovate faster and protect privacy: B20 India Chair India has made a big breakthrough in the privacy space: N Chandrasekaran”

Source : PTI | New Delhi: India’s imports from Russia doubled to USD 20.45 billion during the April-July period of this fiscal due to increasing inbound shipments of crude oil and fertiliser from that country, according to the commerce ministry data. With this, Russia has become India’s second largest import source during the first four months of this fiscal.

The imports were USD 10.42 billion during April-July 2022.

From a market share of less than 1% in India’s import basket before the start of the Russia-Ukraine conflict, Russia’s share of India’s oil imports rose to over 40%. Continue reading “India’s imports from Russia doubled to USD 20.45 billion in April-July period”

THE DEMISE OF CHINA’S GROWTH HAS BEEN MISTAKENLY FORECAST BEFORE. IS THIS TIME DIFFERENT?

Activity data has been missing forecasts since the beginning of the second quarter, with the weakness raising worries that China’s economy is coming closer to a crunch point.

It would not be for the first time. Continue reading “How much worse can China’s economic slowdown get?”

Source : PTI | The advanced chemistry cell battery market demand in India is expected to grow at a CAGR of 50% from 20 GWh in 2022 to around 220 GWh by 2030, according to a CII report released on Sunday. The growth is expected to be supported by the thriving local battery manufacturing industry and a robust local supply chain.

As a result, India is expected to localize a significant portion of the entire value chain from material processing to pack assembly and integration, said the report on ‘Raw materials for Battery & Component Manufacturing’. Continue reading “ACC battery market demand in India to rise to 220 GWh by 2030: Report”

Source : PTI | New Delhi: Domestic passenger vehicle sales are expected to cross 10 lakh mark in the festive period this year with demand remaining robust, especially for utility vehicles. The 68-day festive period this year falls between August 17 and November 14. Few days in between are not considered auspicious for buying.

In an interaction with PTI, Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Shashank Srivastava said that usually the festive season sales account for around 22-26% of the overall sales during a year. Continue reading “Passenger vehicle sales set to cross 10 lakh mark in festive period this year”

New Delhi, 9^th August 2023: With the objective of promoting eco-friendly and sustainable mobility, the Society of Indian Automobile Manufacturers (SIAM) hosted an international conference focused on “Fuelling the Future towards Sustainability: Observing World Biofuels Day 2023”. The conference aimed to share knowledge and experiences about making the automotive industry more sustainable through biofuels. It witnessed deliberations around various aspects of biofuel, including biofuel production, use, biofuel policies in India and global initiatives, along with innovative technologies. The conference provided a platform for industry experts and stakeholders to discuss and explore ways to drive sustainable practices in the automotive sector through the adoption of biofuels. Continue reading “SIAM organises International Conference on Fuelling the Future towards Sustainability on World Biofuel Day 2023”

Noida, August 6, 2023: Continuing with its endeavors to promote road safety and safe driving amongst two-wheeler riders, Rapido, India’s leading bike-taxi aggregator platform, has yet again initiated an important step to promote the adoption of road safety practices amongst motorcyclists and scooter riders by partnering with the UP Police for a free helmet distribution drive.

Held near the Botanical Garden Metro Station in Noida, the helmet distribution drive aimed at promoting safe driving practices amongst scooter and bike riders and encourage them to adopt certified helmets for increasing personal safety and reducing chances of injuries and fatalities in case they meet with a road accident. This initiative was led by Mr. Saurabh Srivastava, ACP Traffic, Gautam Buddh Nagar, who extended strong support to the awareness and helmet distribution program. Continue reading “UP Police & Rapido join hands to Promote Safe Riding, Distributes Free Helmets in Noida”

July 5 (Reuters) – Chinese auto brands are on track to account for just over 50% of the cars sold in their home market this year thanks to a growing dominance in electric vehicles, consultancy AlixPartners said on Wednesday.

It would represent the first time Chinese automakers have controlled a majority share of China’s car market – the world’s largest. Continue reading “Chinese automakers to take majority of home market for first time – forecast”

Source : PTI The government intends to double the turnover of the automobile industry to INR 15 lakh crore from INR 7.5 lakh crore at present, Union Minister for Road Transport and Highways Nitin Gadkari said on Tuesday. Speaking at a public meeting in Rajasthan’s Pratapgarh district to highlight achievements of the central government in the last nine years, Gadkari also targeted Congress saying that in the name of removing poverty, Congress leaders eliminated their own poverty.

“The turnover of the automobile industry is INR 7.55 lakh crore, and four and a half crores have got jobs in the sector. This industry gives maximum GST to the government. We have decided that we will make this industry of INR 15 lakh crore,” he said, adding that the industry will generate ten crore jobs. Continue reading “Govt plans to double turnover of automobile industry to INR 15 lakh crore: Nitin Gadkari”

PTI – Stockholm, The governments and various stakeholders need to rethink mobility as there is an urgent need to move from the dirty and dangerous streets for cars to safe, green and vibrant spaces designed for the people, WHO’s Head of Safety and Mobility, Nhan Tran, said on Monday. Road accidents kill more than 1.3 million people each year – more than two every minute – with 9 in 10 of these preventable deaths occurring in low- and middle-income countries. Road crashes are the leading global killer of children and youth aged 5-29.

Continue reading “Need to move from dangerous streets built for cars to safe spaces designed for people: WHO”

LONDON, June 26 (Reuters) – Global automakers have touted plans to re-use electric vehicle (EV) batteries when they lose power, but competition for battery packs and cell materials, and the appetite for affordable cars cast doubt on this part of the circular economy.

An array of startups offers second-life energy storage using old EV batteries.

But creating the viable industry envisioned by carmakers such as Nissan (7201.T) would mean fighting off competition from recyclers, refurbishers and the needs of drivers squeezed by the cost-of-living crisis.

Continue reading “A second life for EV batteries? Depends how long the first is”

LAS VEGAS, June 22 (Reuters) – Lithium producers are growing anxious that delays in mine permitting, staffing shortages and inflation may hinder their ability to supply enough of the battery metal to meet the world’s aggressive electrification timelines.

Once a niche metal used primarily in ceramics and pharmaceuticals, lithium is now one of the world’s most in-demand metals given aggressive EV plans from Stellantis (STLAM.MI), Ford (F.N) and other automakers.

Continue reading “Lithium producers warn global supplies may not meet electric vehicle demand”

BENGALURU, June 13 (Reuters) – Indian passenger vehicle (PV) wholesales rose 13.5% in May, data from the Society of Indian Automobile Manufacturers (SIAM) showed on Tuesday, indicating a build-up of stocks amid worries of muted retail demand.

Carmakers sold 334,247 PVs in the month, compared to 294,392 units a year before, according to SIAM, which tracks sales made to dealers.

Continue reading “India’s May passenger vehicle wholesales jump shows inventory build-up”

PTI – “We (transport) are responsible for 40 per cent of air pollution in the country…as the transport minister, actually I am responsible for that,” Gadkari said, citing the case of New Delhi which is grappling with air pollution woes.

TOKYO, May 18 (Reuters) – A lack of resources means battery electric vehicles (BEV) cannot be the auto sector’s only answer to climate change, Toyota Motor Corp’s top scientist said Thursday, warning that focusing on BEVs could lead some drivers to hold onto polluting vehicles.

Some investors and environmental groups have long criticised Toyota (7203.T) for being slow to embrace BEVs, saying it has lagged Tesla Inc (TSLA.O) and others amid growing global demand.

Continue reading “Not enough resources for EVs to be only cleaner car option, Toyota says”

BRUSSELS, March 30 (Reuters) – The U.S. Treasury Department is expected to give guidance on Friday on tax breaks for consumers buying electric vehicles and Europe’s auto sector and policymakers will be closely watching to assess the consequences for European industry.

MADE IN AMERICA CONDITIONS

The Treasury is not expected to specify vehicle models but merely lay out the subsidy criteria.

Continue reading “Factbox: How U.S. electric vehicle subsidy rules impact Europe”

By Gleb Stolyarov and Roman Churikov

• This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine

MOSCOW, March 24 (Reuters) – As the exodus of Western carmakers narrows options for Russian consumers, Chinese automakers are filling the gap, forcing Russians to overcome their reluctance to embrace Chinese brands and stomach higher prices.

Continue reading “Russians reluctantly embrace Chinese cars after Western brands depart”

PTI – Addressing an event organised by industry body CII, the road, transport and highway minister said there is a need to encourage public transport, and electric buses are the future.

Union minister Nitin Gadkari on Friday said that if India can use recently discovered reserve of lithium in Jammu and Kashmir, it can become world’s number one automobile manufacturer in electric vehicle segment. Addressing an event organised by industry body CII, the road, transport and highway minister said there is a need to encourage public transport, and electric buses are the future.

Continue reading “India can become number one EV manufacturer by using lithium reserve in J&K: Gadkari”

MEXICO CITY, March 21(Reuters) – With Tesla Inc’s plan to open a $5 billion Gigafactory in Mexico, the country should soon become a hub of electric vehicle (EV) production, but the zero emissions cars remain too expensive for most Mexicans and they are impractical to drive in much of the country, which lacks enough charging stations.

Mexico has made reviving fossil fuel output a priority under President Andres Manuel Lopez Obrador, frequently giving short shrift to investment in renewable power sources.

Continue reading “Mexico makes lots of electric cars, but few Mexicans drive them”

PTI – According to it, the total number of motor vehicles on Delhi roads in 2021-22 was 79.18 lakh, a 35.38 per cent decrease since the Delhi government banned diesel vehicles aged over 10 years and petrol vehicles which are more than 15 years old.

The total number of vehicles on the roads of the national capital has declined by more than 35 per cent since the city government banned plying of overage vehicles, according to the Economic Survey of Delhi 2022-23, report. Delhi Finance Minister Kailash Gahlot tabled the Delhi Economic Survey in the Assembly on Monday.

Continue reading “35% drop in total vehicles on Delhi roads since ban on overage automobiles”

By Siyi Liu and Melanie Burton

BEIJING/MELBOURNE, Feb 28 (Reuters) – Rare discounts offered by Chinese battery giant CATL (300750.SZ) to automakers have accelerated a plunge in lithium prices, and the market is set to drop a further 25% with supply growth outpacing demand, analysts and traders say.

Continue reading “Analysis: Lithium price slide deepens as China battery giant bets on cheaper inputs”

PTI – Going forward, while price hikes and sequential input cost reductions can boost margins in the near term, geopolitical tensions, recessionary concerns, and forex volatility continue to pose risks, the agency said.

India Inc’s operating profit margin narrowed by a sharp 2.37 per cent in the December quarter to 16.3 per cent on an annual basis due to inflation and rising energy costs, a domestic ratings agency said on Monday. When viewed sequentially, the operating profit margin for the December quarter expanded by 1.80 per cent over the preceding September quarter, Icra Ratings said, attributing the same to the easing in input costs and also price hikes by many companies.

Continue reading “India Inc’s profit margin narrows in Dec quarter on high inflation: ICRA”

Hyundai Motor India elevates Tarun Garg as the Chief Operating Officer and Gopala Krishnan CS as the Chief Manufacturing Officer, effective January 1, 2023.

Hyundai Motor India today announced elevations in its Senior Management leadership. Tarun Garg, Director (Sales, Marketing & Service) has been elevated to the Chief Operating Officer (COO) of Hyundai, overseeing Sales, Marketing, Service & Product Strategy for the organisation.

Gopala Krishnan CS, Vice President (Production), has been elevated as Chief Manufacturing Officer (CMO) overseeing Production, Quality Management & Supply Chain. The elevations are effective from January 01, 2023.

Continue reading “Hyundai India elevates Tarun Garg as COO and Gopala Krishnan as CMO”