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Would Indians Love or Shove the Tesla ?
by WAF Auto Think Tank
Elon Musk coming to India next week is Big News! It’s speculated that Tesla just might invest a couple Billion Dollars in the third largest automotive market in the world!
After the EV Policy change, Tesla could have invested just half a Billion dollars to qualify for the newly constituted 15% Duty bracket down from the 100% one. But it seems, it chooses to invest much higher.
The richest man in the world coming to meet one of the most powerful leaders in the world around the time when the largest democracy in the world gets busy with it’s General Elections. Coincidence ? Fan Boy Moment ? Way to get more govt goodies post elections ? A competent strategy to ensure formidable global rivals like BYD stay in the rear view mirror ? Despite entering India much earlier!
India to be a USD 5 trillion economy by FY28; reach USD 30 trillion by 2047: FM
Source : PTI | India will become the third largest economy by 2027-28, with a GDP of over USD 5 trillion, Finance Minister Nirmala Sitharaman said on Wednesday. Even going by conservative estimates, the size of the Indian economy will be USD 30 trillion by 2047, she noted.
“It is possible that we will be the third largest economy by 2027-28, and our GDP will cross USD 5 trillion by that time. By 2047, it is a conservative estimate that we will reach at least USD 30 trillion in terms of economy,” Sitharaman said at the Vibrant Gujarat summit. Continue reading “India to be a USD 5 trillion economy by FY28; reach USD 30 trillion by 2047: FM”
European car sales rise 15% in July, EVs up nearly 61%
LONDON, Aug 30 (Reuters) – European new car registrations jumped 15.2% in July, the 12th consecutive month of growth as the auto industry recovers from pandemic-related supply chain issues, data from the European Automobile Manufacturers Association (ACEA) showed on Wednesday.
Electric vehicle sales jumped 60.6%, continuing a rise buoyed by subsidies in a number of European Union countries. Full EVs accounted for 13.6% of all new car sales, up from under 10% in July 2022.
Plug-in hybrids, which have both a combustion engine and a large battery, accounted for 7.9% of sales, while one in four vehicles sold in the EU was a full hybrid.
Continue reading “European car sales rise 15% in July, EVs up nearly 61%”
As Indonesia pushes EV dream, car shoppers stay cautious
TANGERANG, Indonesia, Aug 21 (Reuters) – Indonesia’s government used the Jakarta auto show to double down on plans to drive production and sales of electric vehicles in Southeast Asia’s largest auto market, but buyers are not sold yet.
The price premium on electric vehicles (EVs), questions about the availability of charging stations and doubts about new brands are reasons to hold back for now, said visitors to the auto show in Tangerang, on the outskirts of Jakarta. Continue reading “As Indonesia pushes EV dream, car shoppers stay cautious”
Ford to build battery plant in Michigan in drive with Chinese tech partner
By Joseph White and David Shepardson
ROMULUS, Michigan/WASHINGTON Feb 13 (Reuters) – Ford Motor Co (F.N) on Monday announced plans to invest $3.5 billion to build an electric vehicle battery plant in Michigan, betting that making the batteries in the United States will help it and Chinese partner CATL (300750.SZ) attract U.S. customers to embrace a lower-cost technology pioneered in China.
Continue reading “Ford to build battery plant in Michigan in drive with Chinese tech partner”Japan’s Subaru cuts annual output target as chip shortage drags on
TOKYO, Feb 8 (Reuters) – Japan’s Subaru Corp (7270.T) slashed its annual output target by nearly 10% on Wednesday amid ongoing fallout from a semiconductor shortage that continues to hamper automakers around the world.
The carmaker said the shortages were most acute among parts for immediate delivery in the spot market and it expected the lack of supply to last at most until around June before recovering.
Subaru said it now expects to produce 880,000 vehicles this fiscal year through March, down 9.3% from a previous forecast of 970,000 units.
Continue reading “Japan’s Subaru cuts annual output target as chip shortage drags on”
Four resign over scandal at Toyota unit Hino, others to return pay
TOKYO, Oct 7 (Reuters) – Toyota Motor Corp’s truck- and bus-making unit Hino Motors said on Friday four officials would step down and it would demand the return of some compensation from past managers, following an engine data scandal.
Three executives overseeing production and compliance and a senior official in charge of technology development would resign, Hino said in a statement. Continue reading “Four resign over scandal at Toyota unit Hino, others to return pay”
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The Full form of WAF is World Auto Forum
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World Auto Forum ( WAF) connects the industry across 125 Countries!
Uber, PayPal, Walgreens launch $11 million vaccine rides fund
(Reuters) – Uber Technologies Inc, PayPal Holdings Inc and Walgreens Inc on Monday said they launched an $11 million fund to provide free ride-hail trips to U.S. COVID-19 vaccination sites for people who lack access to transportation.
The Vaccine Access Fund will be managed by U.S. non-profit Local Initiatives Support Corporation, which will identify communities that need free rides as well as local partners to help with the program, the companies added.
Consumers can support the effort by donating to the fund through PayPal or in the Uber app, they said, adding they were also looking forward to welcoming other corporate donors.
In a joint letter to U.S. President Joe Biden and Vice President Kamala Harris, the companies said their cooperation came in response to calls by the administration for companies to get involved in the pandemic response.
“The Vaccine Access Fund will draw on the innovative tools developed by our respective firms to expand vaccine access and build upon the Biden-Harris administration’s efforts,” the companies said in the letter seen by Reuters.
The fund is separate from Uber’s promise to provide 10 million free or discounted rides to vaccination sites globally, an effort that is both public-spirited and self-interested as it is trying to get more drivers and passengers back on the road.
Lack of transportation is a major hurdle to healthcare equity and vaccine access, and studies show fewer options for medical care in low-income and Black communities that are frequently poorly served by public transit and have lower car ownership rates.
Reporting by Tina Bellon in Austin, Texas; Editing by Himani Sarkar
Honda to quit F1 to focus on zero-emission technology
TOKYO (Reuters) – Japan’s Honda Motor will end its participation as an engine supplier in the FIA Formula One World Championship at the end of the 2021 season to focus on zero-emission technology, it said on Friday.
The decision was made at the end of September and the company does not intend to return to F1, Chief Executive Takahiro Hachigo said in an online news conference.
“This is not a result of the coronavirus pandemic but because of our longer-term carbon-free goal,” he said.
Like other automakers, Honda is rushing to build new-energy vehicles in an industry shift that Hachigo on Friday described as “once in a century”. That race is accelerating amid the coronavirus outbreak as carmakers review production plans to capture market share with new models including low or zero-emission vehicles.
Honda, which returned to F1 in 2015 and last year began in supplying engines to the Red Bull Racing team, said it will divert the resources it used to build F1 engines towards efforts to accelerate development of zero-emission technologies such as fuel cells and batteries.
“We understand how difficult it has been for Honda Motor Company to reach the decision. We understand and respect the reasoning behind this,” Red Bull Team Principal Christian Horner said in a statement.
Honda is launching its first mass-produced all-battery car this month – the Honda e – and has announced plans for two thirds of the company’s output to be new-energy vehicles by 2030.
Domestic rival Toyota Motor Corp last week said it expects annual sales of electric vehicles to reach 5.5 million in 2025, five years earlier than initially planned.
Reporting by Tim Kelly and Chris Gallagher; Editing by David Goodman
Our Standards: The Thomson Reuters Trust Principles.
Empty trains, clogged roads: Americans get behind the wheel to avoid transit
Several opinion polls show Americans plan to avoid trains and buses as stay-at-home orders ease, with some city dwellers buying a car for the first time. A potential boon to coronavirus-battered automakers, the shift poses a challenge to city planners end environmental goals.
Continue reading “Empty trains, clogged roads: Americans get behind the wheel to avoid transit”
WAF at Auto Expo 2020
Harsh Vardhan, Director, EeVe India shares how one visit to Spain made him swing to EVs #autoexpo2020
Jeetender Sharma, Founder & MD, Okinawa Scooters talks about his Patents, BMS, Better Batteries, No Compromise on Safety #autoexpo2020
Why cant all Automotive factories and warehouses be powered by Solar? Meet Anil Bhat SVP Amplus Solar talk about it ! #autoexpo2020
Meet the Cartist Man of India Himanshu Jangid, Founder & MD, Cartist as talks about Sustainability with Art at Automotive #autoexpo2020
Hardeep S Brar Director Mktg & Sales, Great Wall Motors shares the Co’s Great Plans for India #autoexpo2020
How to take Digital beyond Lead Gen | The Auto World this Week
