Varanasi, 28th March 2024: The Society of Indian Automobile Manufacturers (SIAM), the apex automobile industry body, organised the 18th SIAM Styling and Design Conclave alongside the 16th Automotive Design Challenge (ADC) on 22nd March 2024 at Hotel Ramada Plaza by Wyndham, Varanasi, Uttar Pradesh. The theme of the conclave was “Designing for Aspiring India”, focusing on the future of … [Read more...]
China’s BYD slows down plans for EV factory in Vietnam, industrial park says
HANOI, (Reuters) – Chinese electric vehicles maker BYD has slowed down its plans to build an EV factory in Vietnam, a manager of the industrial park where the plant would be built told a shareholders meeting on Thursday. Vietnam’s government said in May that BYD had decided to build a factory to manufacture and assemble electric cars in the northern Vietnamese province of Phu Tho, where the … [Read more...]
Mercedes partly loses class action case over diesel defeat devices
BERLIN, (Reuters) – A German court ruled on Thursday partly in favour of consumers in a class action suit against Mercedes Benz over diesel emissions defeat devices. Some of the German luxury carmaker’s diesel models with the Euro 6 grade engines built between 2012-2016 had cheat devices, the Stuttgart court said. It found no violations in the older Euro 5 models, however.. Owners can return the … [Read more...]
Subaru recalls 118,000 US vehicles over faulty air bag sensors
(Reuters) – Subaru is recalling 118,000 SUVs and sedans in the United States to address a faulty sensor that can prevent air bags from deploying in a crash, the National Highway Traffic Safety Administration (NHTSA) said on Wedne0sday. The recall covers various 2020 through 2022 model year Outback and Legacy. It is the third recall stemming from the same issues from parts produced by the same … [Read more...]
Xiaomi set for plunge into EVs at a tricky time for China autos
BEIJING, (Reuters) – China’s Xiaomi will launch its highly anticipated electric vehicle (EV) on Thursday when it will reveal its pricing and start taking orders, marking the electronics company’s entry into the world of automobiles. The world’s third largest smartphone vendor has only said so far that its car will be priced below 500,000 yuan ($69,170.64). Models it unveiled in over 70 stores … [Read more...]
Toyota’s global sales slide 7% in February, led by slumps in China and Japan
TOKYO, (Reuters) – Toyota Motor’s global sales dropped 7% in February from a year earlier, hurt by a heavy decline in China due to Lunar Year holidays and a slump in Japan after a safety test scandal at its small car unit. Sales in China – the world’s biggest auto market – tumbled 36%. This year the week-long Lunar New Year holiday took place in February while last year it occurred in … [Read more...]
Hyundai Motor doubles down on EVs as it ramps up investment in Korea
NEW YORK/SEOUL, (Reuters) – Hyundai Motor Group said on Wednesday it will invest 68 trillion won ($51 billion) over three years in South Korea to ramp up electric vehicle production and new mobility business and separately hire 80,000 new employees, doubling down at a time when other established automakers are slowing efforts. More than half of the investment, or 35.5 trillion won, will be … [Read more...]
Tendulkar-backed company to invest INR 5,000 crore for semiconductor facility in Maha
Source : PTI | RRP Electronics , a company backed by former cricketer Sachin Tendulkar, on Tuesday announced an investment of INR 5,000 crore for a semiconductor facility in Maharashtra. The investment will be done over the next five years, the company said in a statement. Contributions from Tendulkar in the overall investment or details of other shareholders were not disclosed by the company. … [Read more...]
Chinese EV maker Nio cuts Q1 deliveries forecast amid tepid demand
(Reuters) – Chinese electric-vehicle maker Nio lowered its forecast for first-quarter deliveries on Wednesday, as it grapples with slowing demand and a price war in China. The company’s U.S.-listed shares fell around 4% in premarket trading. EV demand in Nio’s home market China — the world’s largest auto market — has been faltering as intense market competition has driven down car prices and … [Read more...]
EV maker VinFast signs partnership agreements with 15 dealers in Thailand
HANOI, (Reuters) – Vietnamese electric vehicle maker VinFast said on Wednesday that it had signed partnership agreements with 15 dealers in Thailand, its latest effort to expand in Southeast Asia and tap growing demand in the region. It said the deals were made at this week’s Bangkok International Motor Show. Thailand is looking convert about 30% of its annual vehicle production into EVs by … [Read more...]
Hyundai Motor Group to invest 68 trln won over 3 years
SEOUL, (Reuters) – South Korea’s Hyundai Motor Group said on Wednesday it will invest 68 trillion won ($51 billion) over three years to bolster its growth potential in electric vehicles and new mobility business and separately hire 80,000 new employees. More than half of the investment, or 35.5 trillion won, will be allocated for new research and development infrastructure and assembly lines for … [Read more...]
GM, Ford will reroute Baltimore shipments after bridge collapse
NEW YORK, (Reuters) – U.S. automakers General Motors and Ford will reroute affected shipments after a bridge collapse in the U.S. shuttered the Port of Baltimore, but the companies said on Tuesday the impact will be minimal. “We expect the situation to have minimal impact to our operations. We are working to re-route any vehicle shipments to other ports,” GM said in a statement. The Port of … [Read more...]
Subaru recalls 118,000 US vehicles over faulty air bag sensors
(Reuters) – Subaru is recalling 118,000 SUVs and sedans in the United States to address a faulty sensor that can prevent air bags from deploying in a crash, the National Highway Traffic Safety Administration (NHTSA) said on Wedne0sday. The recall covers various 2020 through 2022 model year Outback and Legacy. It is the third recall stemming from the same issues from parts produced by the same … [Read more...]
Nissan will invest in Renault’s Ampere in pursuit of global EV roadmap, CEO says
ORAGADAM, India, (Reuters) – Japan’s Nissan Motor will invest in Renault’s electric vehicle (EV) unit Ampere even after its listing plans fell through, while also evaluating its partnership with Honda Motor to further build its global EV expansion. “We want to be a global (EV) player in the world,” Nissan CEO Makoto Uchida told reporters during a press briefing in the southern Indian city of … [Read more...]
Jaishankar urges Singapore’s business community to invest in India’s semiconductor manufacturing sector
Source : PTI | External Affairs Minister S Jaishankar on Saturday briefed Singapore’s business community about the strides taken by India in the field of manufacture of semiconductors and appealed to them to invest in this key sector in the country. Jaishankar spoke about how machines for the manufacture of semiconductors have started coming (to India) and also how India is progressing towards … [Read more...]
Auto players line up array of new EV models in coming years on govt push to green mobility
Source : PTI | New Delhi: The Indian auto industry is gearing up to roll out an array of electric vehicle models over the next few years amid a renewed push by the government to encourage environment-friendly mobility solutions with the unveiling of a new policy. Mass market players like Maruti Suzuki, Hyundai, Mahindra & Mahindra and Tata Motors are lining up new models to cater to the demand … [Read more...]
India’s push for EVs may lead to large-scale entry of Chinese firms in domestic market: GTRI
Source : PTI | The Indian government’s push to boost domestic manufacturing of electric vehicles (EVs) may lead to large-scale entry of Chinese auto firms in the local market, a report by think tank GTRI said on Sunday. China’s automotive industry, buoyed by substantial state support, has grown rapidly in electric vehicle technology, making it a leading exporter of EVs and related components, the … [Read more...]
Nissan to launch 16 EVs in next three years globally, plans to make India a hub for exports
Source : PTI | Japanese auto major Nissan Motor Co Ltd plans to launch three all-new models in India by fiscal year 2026 and make the country a hub for exports under its new global business plan to drive value and strengthen competitiveness, according to a company statement. Under the new plan, which is split into mid-term imperatives for fiscal years 2024 through 2026, and mid-long-term actions … [Read more...]
In 2023, bold EV strategies took a punch from reality
DETROIT, (Reuters) – This was the year the auto industry’s race toward an all-electric future took a detour. Heading into 2023, automakers were gearing up to invest $1.2 trillion by 2030 to move electric vehicles from niche products to mass-market models – many with batteries and software developed in-house, according to a Reuters analysis. As the year closes, legacy automakers as well as Tesla, … [Read more...]
Toyota plans to mass produce battery Hilux pickup truck by 2025, official says
BANGKOK, (Reuters) – Japan’s Toyota plans to mass-produce a battery electric Hilux pickup truck by the end of 2025, the president of its Thailand unit said on Tuesday. The announcement comes just a few days after the Thai government said that the rival Japanese automaker Isuzu Motors said it would manufacture its battery D-MAX pickup in Thailand by 2025. Thailand is a regional automaking hub, with … [Read more...]
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