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

• Second round of talks to start on Oct. 30
• All German sites must be kept open, unions say
• Unions threaten strike if no solution found by Dec. 1

(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

• Fight over satellite broadband spectrum rages in India
• Billionaire Ambani at odds with Elon Musk’s Starlink
• Reliance asking for consultation to start afresh, letter shows

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

• EU to vote on tariff proposal for Chinese EVs on Friday
• France, Greece, Italy and Poland say they will vote in favour, sources say
• Their support should be enough to pass the vote
• France’s Macron says China’s level of subsidies ‘unbearable’

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

• Dockworkers’ strike halts flow of half the nation’s ocean shipping
• European automakers most affected due to reliance on East and Gulf Coast ports
• Detroit automakers may benefit from reduced industry inventories
• Group representing major automakers urges White House to broker a resolution
• Shortage of parts could lead some automakers to reduce vehicle production

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”

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

• French cognac houses to attend meeting in Beijing
• Some European countries oppose tariffs
• Intense negotiations expected to continue

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:

WHY IS VOLKSWAGEN DOING THIS?

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?”

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”

• Passenger Vehicles2 sales were 3,35,629 units in April 2024.
• Three-wheeler sales were 49,116 units in April 2024
• Two-wheeler sales were 17,51,393 units in April 2024.

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”

Introduction 

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”

Summary

• Aston Martin sees Q2 peformance broadly similar to Q1
• Shares hit lowest level since November 2022
• Q1 pretax loss, wholesale volumes and cash flow miss estimates

(Reuters) – Aston Martin posted a bigger-than-expected first-quarter pretax loss on Wednesday as the British luxury carmaker made fewer cars and burned more cash than analysts anticipated, sending its shares 7% lower. Continue reading “Aston Martin losses balloon ahead of new model ramp up”

Source : PTI | India’s net oil import bill could widen to USD 101-104 billion in current fiscal from USD 96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of USD 7.9 billion in 11 months (April-February) of 2023-24, up from USD 5.1 billion in 2022-23.

“With India’s oil import dependency expected to remain high, if the discounts on purchases of Russian crude persist at the prevailing low levels, ICRA expects India’s net oil import bill to widen to USD 101-104 billion in FY2025 from USD 96.1 billion in FY2024, assuming an average crude oil price of USD 85/bbl in the fiscal,” ICRA said. Continue reading “India’s oil import bill could swell to USD 101-104 bn in FY25: ICRA”

Summary

• European carmakers post lower Q1 sales
• New model launches eat into margins
• Volkswagen, Stellantis, Mercedes Benz shares all lower

LONDON/FRANKFURT, (Reuters) – European car giants Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue on Tuesday as they geared up to launch new models, faced higher costs and were hit by weaker demand for new cars as interest rates remain high. Continue reading “Weak demand, new model ramp up hit Europe’s top automakers”

PTI | New Delhi: A major surge of nearly 149% in prosecutions related to mobile phone usage while driving in Delhi since January 1, as compared to the corresponding period last year, the traffic police data revealed. The statistics, shared by the Delhi Traffic Police, indicate a sharp rise in violations of mobile phone usage laws while driving.

From January 1 to April 15, a total of 15,846 motorists were booked for this offence, significantly higher than the 6,369 cases reported in 2023, it said. Continue reading “149% surge in cases of mobile phone use while driving since Jan”

LONDON, (Reuters) – U.S. and European politicians have raised alarms that their domestic auto industries could be destroyed by a wave of cheap Chinese electric vehicles. But so far, China’s top EV maker, BYD, has dramatically hiked export prices compared to what it charges at home rather than undercut foreign rivals.

The goal: to rake in hefty profit margins the automaker can’t get in China amid fierce competition. Continue reading “Insight: Why BYD’s EV exports sell for twice the China price”

BEIJING, (Reuters) – Nissan Motor and Mazda Motor unveiled new cars tailored for Chinese drivers on Thursday, signalling a fresh push by Japanese automakers to regain ground in the world’s largest auto market.

The models, including some concept cars, were introduced at the Beijing auto show and mark an attempt to better respond to demand from Chinese consumers for software-loaded, electric-powered vehicles. Continue reading “Nissan, Mazda roll out new models for China as they aim for comeback”