Chinese EV maker BYD has unveiled the Shark mid-size hybrid-electric pickup truck in Mexico, marking the first time that the company has launched a new product outside its home country. The firm's Chief of Americas, Stella Li said that Mexico was chosen because of the rapid growth in demand for pickup trucks in the country. The pickup truck strengthens the EV maker's foothold in the North American market posing a rivalry to the likes of Ford, General Motors and Toyota.&nbsp;

Exterior and Interior highlights:

BYD Shark features a full-width LED light bar in the front with a large BYD logo mounted on the radiator grille. Thanks to the Black cladding around, the pickup truck gives off-roading vibes. On the inside, there is a 12.8-inch rotating infotainment screen which is complemented by a 10.25-inch digital gauge cluster. Features like 12-inch heads-up display, wireless Apple CarPlay and Android Auto connectivity and bidirectional charging are offered on the vehicle.

Platform highlights:

In terms of dimensions, BYD Shark measures 214 inches long, 77.5 inches wide and 75.5 inches tall with a wheelbase of 128.3 inches. The pickup truck's maximum towing and payload capacities are 5,511 pounds and 1,840 pounds, respectively. BYD Shark rides on a body-on-frame platform, which the company calls DMO. DM stands for Dual Mode (hybrid) and O stands for off-road.

Engine highlights:

Shark's plug-in hybrid system houses the 1.5-liter turbo engine with two electric motors, one on each axle, delivering a combines power of 430 hp. The pickup truck can do 0-62 miles per hour in 5.7 seconds. The vehicle makes use of BYD's renowned in-house blade battery technology.&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/surge-in-global-prices-stalls-chinas-imports-of-russian-aluminium-721657">Surge in global prices stalls China’s imports of Russian aluminium</a>

US hikes EV tariffs:

The Shark unveil comes hours after US President Joe Biden announced increase in tariffs on Chinese imports over unfair competitive practices, leading to import duties on Chinese products quadrupling to over 100%. However, BYD's regional chief dismissed that these tariffs affect the company by saying that it is not eyeing the US market.&nbsp;

Li, in an interview to Reuters, stated that BYD plans to build a manufacturing plant in Mexico. "We don't have plans to go to the U.S. market, so this announcement does not impact us at all. When we build a Mexican plant, we only consider the Mexican market and other countries' markets, we have not considered the US," she added.

BYD eyeing EV plant in Mexico:

Li informed that the company has already shortlisted potential sites for building BYD's plant in Mexico and that the facility will be centrally-located in the Latin American country. She added that a "deeper dialogue" was needed to make the final decision and that could happen by the end of the year. BYD's Mexican plant is expected to have a capacity of 150,000 vehicles per year and could take up to two to three years to be operational.&nbsp;

Chinese automakers have been growing their presence in Mexico since 2017 as one of 10 cars sold in Mexico last year was from a Chinese automaker. MG Motors, a unit of SAIC dominated nearly half the Mexican market in the mentioned time period.&nbsp;

However, US Trade Representative Katherine Tai later said that the country is also weighing tariffs on imports from Mexico. Last month, Mexico's federal government too came under pressure from the US to keep Chinese automakers away by refusing to offer incentives such as low-cost public land or tax cuts for investment in EV production.

 
&nbsp;

Chinese EV maker BYD has unveiled the Shark mid-size hybrid-electric pickup truck in Mexico, marking the first time that the company has launched a new product outside its home country.

Chinese EV maker BYD has unveiled the Shark mid-size hybrid-electric pickup truck in Mexico, marking the first time that the company has launched a new product outside its home country. The firm's Chief of Americas, Stella Li said that Mexico was chosen because of the rapid growth in demand for pickup trucks in the country. The pickup truck strengthens the EV maker's foothold in the North American market posing a rivalry to the likes of Ford, General Motors and Toyota. Exterior and Interior highlights: BYD Shark features a full-width LED light bar in the front with a large BYD logo mounted on the radiator grille. Thanks to the Black cladding around, the pickup truck gives off-roading vibes. On the inside, there is a 12.8-inch rotating infotainment screen which is complemented by a 10.25-inch digital gauge cluster. Features like 12-inch heads-up display, wireless Apple CarPlay and Android Auto connectivity and bidirectional charging are offered on the vehicle. Platform highlights: In terms of dimensions, BYD Shark measures 214 inches long, 77.5 inches wide and 75.5 inches tall with a wheelbase of 128.3 inches. The pickup truck's maximum towing and payload capacities are 5,511 pounds and 1,840 pounds, respectively. BYD Shark rides on a body-on-frame platform, which the company calls DMO. DM stands for Dual Mode (hybrid) and O stands for off-road. Engine highlights: Shark's plug-in hybrid system houses the 1.5-liter turbo engine with two electric motors, one on each axle, delivering a combines power of 430 hp. The pickup truck can do 0-62 miles per hour in 5.7 seconds. The vehicle makes use of BYD's renowned in-house blade battery technology. Also Read: Surge in global prices stalls China’s imports of Russian aluminium US hikes EV tariffs: The Shark unveil comes hours after US President Joe Biden announced increase in tariffs on Chinese imports over unfair competitive practices, leading to import duties on Chinese products quadrupling to over 100%. However, BYD's regional chief dismissed that these tariffs affect the company by saying that it is not eyeing the US market. Li, in an interview to Reuters, stated that BYD plans to build a manufacturing plant in Mexico. "We don't have plans to go to the U.S. market, so this announcement does not impact us at all. When we build a Mexican plant, we only consider the Mexican market and other countries' markets, we have not considered the US," she added. BYD eyeing EV plant in Mexico: Li informed that the company has already shortlisted potential sites for building BYD's plant in Mexico and that the facility will be centrally-located in the Latin American country. She added that a "deeper dialogue" was needed to make the final decision and that could happen by the end of the year. BYD's Mexican plant is expected to have a capacity of 150,000 vehicles per year and could take up to two to three years to be operational. Chinese automakers have been growing their presence in Mexico since 2017 as one of 10 cars sold in Mexico last year was from a Chinese automaker. MG Motors, a unit of SAIC dominated nearly half the Mexican market in the mentioned time period. However, US Trade Representative Katherine Tai later said that the country is also weighing tariffs on imports from Mexico. Last month, Mexico's federal government too came under pressure from the US to keep Chinese automakers away by refusing to offer incentives such as low-cost public land or tax cuts for investment in EV production.

BYD Shark hybrid pickup launched in Mexico as US hikes EV tariffs

US EV maker Tesla has settled a lawsuit by a former factory employee who alleged that she was fired by the company for complaining about severe sexual harassment, Reuters reported. The electric carmaker has a series of sex and race discrimination lawsuits pending against it. Soon after Tyonna Turner and Tesla informed the district judge of the settlement, Judge William Orrick in San Francisco dismissed the 2023 lawsuit. However, the terms of settlement were not disclosed.

Turner was employed at Tesla's flagship assembly plant in Fremont, California, where the company is accused in a number of lawsuits of failing to address rampant harassment of Black and female workers. This appears to be the first settlement in a series of sexual harassment cases filed against the company since 2021. Both representatives of Tesla and Turner did not immediately respond to requests for comment by Reuters.

Also Read:<a href="https://www.wionews.com/business-economy/protestors-try-to-attack-german-tesla-factory-clash-with-police-720996">&nbsp;Protestors try to attack German Tesla factory, clash with police</a>

The lawsuit by Turner had alleged that in the nearly two years that she worked at the Fremont plant, she was harassed about 100 times. This included stalking by a male coworker who often followed her around the factory. She claimed that when she complained, a supervisor told her, "That's just how people are." Following this, in September 2022, Turner was fired in retaliation for reporting the harassment and a workplace injury.

Last August, judge Orrick rejected Tesla's bid to send the case to private arbitration, citing a 2022 federal law that bars mandatory arbitration of sexual harassment and assault claims. At least six other cases pending against Tesla in California state court are similar to what Turner's lawsuit alleged.

Other lawsuits faced by Tesla include tolerance of widespread racial discrimination at the Fremont plant and other facilities, including claims from a US anti-discrimination agency. There is a separate case by its California counterpart and a class action on behalf of 6,000 Black workers which claim that they were subjected to constant racial slurs and graffiti.&nbsp;

The lawsuits also allege that they were assigned less desirable jobs and retaliated against for complaining. However, Tesla has said it does not tolerate discrimination and has fired workers who were found to have engaged in racist conducts.

US EV maker Tesla has settled a lawsuit by a former factory employee who alleged that she was fired by the company for complaining about severe sexual harassment, Reuters reported.

US EV maker Tesla has settled a lawsuit by a former factory employee who alleged that she was fired by the company for complaining about severe sexual harassment, Reuters reported. The electric carmaker has a series of sex and race discrimination lawsuits pending against it. Soon after Tyonna Turner and Tesla informed the district judge of the settlement, Judge William Orrick in San Francisco dismissed the 2023 lawsuit. However, the terms of settlement were not disclosed. Turner was employed at Tesla's flagship assembly plant in Fremont, California, where the company is accused in a number of lawsuits of failing to address rampant harassment of Black and female workers. This appears to be the first settlement in a series of sexual harassment cases filed against the company since 2021. Both representatives of Tesla and Turner did not immediately respond to requests for comment by Reuters. Also Read: Protestors try to attack German Tesla factory, clash with police The lawsuit by Turner had alleged that in the nearly two years that she worked at the Fremont plant, she was harassed about 100 times. This included stalking by a male coworker who often followed her around the factory. She claimed that when she complained, a supervisor told her, "That's just how people are." Following this, in September 2022, Turner was fired in retaliation for reporting the harassment and a workplace injury. Last August, judge Orrick rejected Tesla's bid to send the case to private arbitration, citing a 2022 federal law that bars mandatory arbitration of sexual harassment and assault claims. At least six other cases pending against Tesla in California state court are similar to what Turner's lawsuit alleged. Other lawsuits faced by Tesla include tolerance of widespread racial discrimination at the Fremont plant and other facilities, including claims from a US anti-discrimination agency. There is a separate case by its California counterpart and a class action on behalf of 6,000 Black workers which claim that they were subjected to constant racial slurs and graffiti. The lawsuits also allege that they were assigned less desirable jobs and retaliated against for complaining. However, Tesla has said it does not tolerate discrimination and has fired workers who were found to have engaged in racist conducts.

Tesla settles sexual harassment lawsuit by factory worker

EV maker Zeekr saw its shares rise almost 35% above its initial public offering (IPO) price in the US, proving to be a strong start for the electric-vehicle maker. This is notably the first major US market debut by a Chinese company since 2021. As it successfully completed its US flotation, Zeekr aims to stand out among a swarm of Chinese EV makers competing for a larger share of the European market.

Thanks to the successful debut, Zeekr got a fully diluted valuation of USD 6.8 billion, or about half the USD 13 billion it fetched after a funding round last year. But ironically, its first day of trading happened when US President Joe Biden's administration planned on boosting tariffs on Chinese vehicle imports to the country.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/chinese-firms-secure-major-bids-in-iraqs-oil-and-gas-exploration-720801">Chinese firms secure major bids in Iraq's oil and gas exploration</a>

Zeekr is the premium brand of Chinese automaker Geely, which also owns Sweden's Volvo Cars and the UK's Lotus. The EV maker was formed in 2021 in order to tap into the growing demand for premium models in China. Since then, the brand has delivered nearly 200,000 cars, mostly in China, according to its IPO filing. Zeekr's CEO Conghui An, who is also the president of its parent company, told Reuters, "The capital markets in New York are very favorable for new energy vehicles. Zeekr is a global brand, and choosing to list in New York further demonstrates its global capabilities."

Zeekr has been eyeing expansion in other markets as fierce competition in China among domestic rivals and with Tesla has eroded its profits. All major Chinese automakers like BYD, SAIC and Great Wall Motor have been targeting Europe. They've been rolling out new electric models on the European turf with an aim to compete with the native legacy automakers. Thus, Chinese EV sales in Europe have soared in recent years.

Zeekr aims to become the Volkswagen Group of this era of new energy vehicles, said An, comparing the company to Europe's top automaker. The brand is more focused on the premium segment of the market.&nbsp;

(with inputs from Reuters)

EV maker Zeekr saw its shares rise almost 35% above its initial public offering (IPO) price in the US, proving to be a strong start for the electric-vehicle maker.

EV maker Zeekr saw its shares rise almost 35% above its initial public offering (IPO) price in the US, proving to be a strong start for the electric-vehicle maker. This is notably the first major US market debut by a Chinese company since 2021. As it successfully completed its US flotation, Zeekr aims to stand out among a swarm of Chinese EV makers competing for a larger share of the European market. Thanks to the successful debut, Zeekr got a fully diluted valuation of USD 6.8 billion, or about half the USD 13 billion it fetched after a funding round last year. But ironically, its first day of trading happened when US President Joe Biden's administration planned on boosting tariffs on Chinese vehicle imports to the country. Also Read: Chinese firms secure major bids in Iraq's oil and gas exploration Zeekr is the premium brand of Chinese automaker Geely, which also owns Sweden's Volvo Cars and the UK's Lotus. The EV maker was formed in 2021 in order to tap into the growing demand for premium models in China. Since then, the brand has delivered nearly 200,000 cars, mostly in China, according to its IPO filing. Zeekr's CEO Conghui An, who is also the president of its parent company, told Reuters, "The capital markets in New York are very favorable for new energy vehicles. Zeekr is a global brand, and choosing to list in New York further demonstrates its global capabilities." Zeekr has been eyeing expansion in other markets as fierce competition in China among domestic rivals and with Tesla has eroded its profits. All major Chinese automakers like BYD, SAIC and Great Wall Motor have been targeting Europe. They've been rolling out new electric models on the European turf with an aim to compete with the native legacy automakers. Thus, Chinese EV sales in Europe have soared in recent years. Zeekr aims to become the Volkswagen Group of this era of new energy vehicles, said An, comparing the company to Europe's top automaker. The brand is more focused on the premium segment of the market. (with inputs from Reuters)

Chinese EV maker Zeekr's shares rise nearly 35% in US market debut

In a shift from its initial plan to offer an all-electric lineup in Europe beyond 2030, Ford Motor Company is now considering offering gas-powered vehicles and hybrids in the region beyond the set timeline, the Detroit automaker said. Earlier in 2021, the company had outlined plans for an all electric lineup for Europe by the end of the decade.&nbsp;

However, due to slowing of EV adoption in the bloc, the company made a change in its plans. "As EV adoption in Europe has slowed, we believe we need to offer our customers ICE (internal combustion engine) and hybrid vehicle options beyond 2030," Ford said in a statement to Reuters. The company added that it is closely monitoring the situation and would adapt as necessary.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/german-carmakers-warn-eu-tariffs-on-chinese-evs-may-backlash-719665">German carmakers warn EU tariffs on Chinese EVs may backlash</a>

Over the past year, Europe has seen a rise in popularity of hybrid vehicles, which act as a bridge between gas-powered vehicles and EVs. This has prompted automakers to scale back on their plans to go fully electric by the end of the decade. Additionally, a lack of charging infrastructure in Europe has also deterred some buyers from switching over to EVs.

Still, global automakers are strategising to shift their gasoline-powered lineups to an all-electric powerhouse eventually and gradually, as they are under pressure to cut vehicle emissions and adapt greener technologies.

In a separate development, the US National Highway Traffic Safety Administration (NHTSA) has initiated an inquiry into Ford's BlueCruise hands-free driving technology, following two fatal collisions in which Mustang Mach-E SUVs hit parked vehicles. The safety agency will investigate the first 130,000 Ford Mustang Mach-E SUVs produced between 2021 and 2024 to determine whether these vehicles pose an unacceptable safety risk.

Ford assured it was cooperating with NHTSA to tackle the issue. Meanwhile, the National Transportation Safety Board (NTSB) has launched two independent investigations into the two crashes involving the Mustang Mach-E. In a fatal incident on February 24, a 2022 Mustang Mach-E using BlueCruise tech rammed into the rear of a stationary Honda CR-V on Interstate Highway 10 in San Antonio, Texas. On March 3, another Mach-E crashed in Philadelphia.

(with input from Reuters) 
&nbsp;

In a shift from its initial plan to offer an all-electric lineup in Europe beyond 2030, Ford Motor Company is now considering offering gas-powered vehicles and hybrids in the region beyond the set timeline, the Detroit automaker said.

In a shift from its initial plan to offer an all-electric lineup in Europe beyond 2030, Ford Motor Company is now considering offering gas-powered vehicles and hybrids in the region beyond the set timeline, the Detroit automaker said. Earlier in 2021, the company had outlined plans for an all electric lineup for Europe by the end of the decade. However, due to slowing of EV adoption in the bloc, the company made a change in its plans. "As EV adoption in Europe has slowed, we believe we need to offer our customers ICE (internal combustion engine) and hybrid vehicle options beyond 2030," Ford said in a statement to Reuters. The company added that it is closely monitoring the situation and would adapt as necessary. Also Read: German carmakers warn EU tariffs on Chinese EVs may backlash Over the past year, Europe has seen a rise in popularity of hybrid vehicles, which act as a bridge between gas-powered vehicles and EVs. This has prompted automakers to scale back on their plans to go fully electric by the end of the decade. Additionally, a lack of charging infrastructure in Europe has also deterred some buyers from switching over to EVs. Still, global automakers are strategising to shift their gasoline-powered lineups to an all-electric powerhouse eventually and gradually, as they are under pressure to cut vehicle emissions and adapt greener technologies. In a separate development, the US National Highway Traffic Safety Administration (NHTSA) has initiated an inquiry into Ford's BlueCruise hands-free driving technology, following two fatal collisions in which Mustang Mach-E SUVs hit parked vehicles. The safety agency will investigate the first 130,000 Ford Mustang Mach-E SUVs produced between 2021 and 2024 to determine whether these vehicles pose an unacceptable safety risk. Ford assured it was cooperating with NHTSA to tackle the issue. Meanwhile, the National Transportation Safety Board (NTSB) has launched two independent investigations into the two crashes involving the Mustang Mach-E. In a fatal incident on February 24, a 2022 Mustang Mach-E using BlueCruise tech rammed into the rear of a stationary Honda CR-V on Interstate Highway 10 in San Antonio, Texas. On March 3, another Mach-E crashed in Philadelphia. (with input from Reuters)

Ford planning to offer combustion-engine, hybrid vehicles in Europe beyond 2030

Uber surprised its investors with a quarterly loss and a projection that gross bookings fell short of analysts’ expectation that caused its shares to plunge by 9% and also suggesting that the ride-hailing and food delivery giant might be losing more than USD 10 billion in market value.

The dramatic contrast between Uber’s bleak outlook and Lyft's optimistic declaration, after their shares sky rocketed by 8%, showed some of the competition within the space.

Lyft was able to increase its revenues significantly during the quarter, thanks to an increase in demand across the industry as a whole. On the other hand, Uber’s growth is slowing down in comparison to its solid performance in 2023, in which it became the first ever company in the US to achieve an annual profit after taking over both the ride-share and delivery sectors.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/us-prosecutors-probe-teslas-autopilot-claims-for-potential-fraudulent-misrepresentation-719633">US prosecutors probe Tesla's autopilot claims for potential fraudulent misrepresentation</a>

Uber underperformed Wall Street's gross booking views for the first quarter, it is base on the important metric which is the total transaction value on its platform. CFO Prashanth Mahendra-Rajah identified the cause of this miss as: soft demand from ride share in Latin America and the impact of certain holidays being shifted into the first quarter.

Spanning close to 70 countries worldwide and providing a range of services such as meal deliveries and freight booking, Uber as of the March quarter held the leads with a commanding market share of nearly 72%, based on the data from YipitData. On the other hand, Lyft mainly operating in the US and parts of Canada has a different competitive landscape to deal with.

Uber reported a net loss of USD 654 million largely due to legal charges, provisions and fair value adjustments for some of its investments. While analysts had expected a net income to be USD 503.1 million, the opposite occurred.

Indeed, Lyft is currently hard on the accelerator to book market share from its competitor, Uber, led by CEO David Risher, who took over in April. These efforts can be seen in terms of better user experiences with shorter waiting times and competitive pricing.

Uber surprised its investors with a quarterly loss and a projection that gross bookings fell short of analysts’ expectation that caused its shares to plunge by 9% and also suggesting that the ride-hailing and food delivery giant might be losing more than USD 10 billion in market value.

Uber surprised its investors with a quarterly loss and a projection that gross bookings fell short of analysts’ expectation that caused its shares to plunge by 9% and also suggesting that the ride-hailing and food delivery giant might be losing more than USD 10 billion in market value. The dramatic contrast between Uber’s bleak outlook and Lyft's optimistic declaration, after their shares sky rocketed by 8%, showed some of the competition within the space. Lyft was able to increase its revenues significantly during the quarter, thanks to an increase in demand across the industry as a whole. On the other hand, Uber’s growth is slowing down in comparison to its solid performance in 2023, in which it became the first ever company in the US to achieve an annual profit after taking over both the ride-share and delivery sectors. Also Read: US prosecutors probe Tesla's autopilot claims for potential fraudulent misrepresentation Uber underperformed Wall Street's gross booking views for the first quarter, it is base on the important metric which is the total transaction value on its platform. CFO Prashanth Mahendra-Rajah identified the cause of this miss as: soft demand from ride share in Latin America and the impact of certain holidays being shifted into the first quarter. Spanning close to 70 countries worldwide and providing a range of services such as meal deliveries and freight booking, Uber as of the March quarter held the leads with a commanding market share of nearly 72%, based on the data from YipitData. On the other hand, Lyft mainly operating in the US and parts of Canada has a different competitive landscape to deal with. Uber reported a net loss of USD 654 million largely due to legal charges, provisions and fair value adjustments for some of its investments. While analysts had expected a net income to be USD 503.1 million, the opposite occurred. Indeed, Lyft is currently hard on the accelerator to book market share from its competitor, Uber, led by CEO David Risher, who took over in April. These efforts can be seen in terms of better user experiences with shorter waiting times and competitive pricing.

Uber shares take a dip hurting second quarter forecast

During his recent visit to China, Tesla CEO Elon Musk proposed testing the company's advanced driver-assistance package in the country by deploying it in robotaxis, state-backed China Daily newspaper reported on Wednesday. Chinese officials welcomed the robotaxi tests in the country and hoped it would "set a good example", the newspaper quoted the sources as saying.

However, the authorities in China did not immediately approve the widespread use of its Full Self-Driving (FSD) functions. Before the complete rollout of its FSD functions, Tesla still needs to get approval to collect and transfer data overseas to train Tesla cars for driver-assistance features. The newspaper added that this issue wasn't discussed in detail during Musk's visit.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/amazon-unveils-volvo-electric-trucks-for-port-operations-in-southern-california-719184">Amazon unveils Volvo electric trucks for port operations in Southern California</a>

A person briefed on the matter told Reuters that Tesla is seeking to launch the robotaxi tests in Shanghai, where the company's largest factory globally is located.

Musk's trip to Beijing last month was to discuss the rollout of FSD in the country and whether Tesla could secure government approvals to transfer data overseas that could prove pivotal in its development of autonomous vehicles.&nbsp;

What is FSD? It is the most autonomous version of Autopilot software and was rolled out by Tesla in 2020. Its features include self-parking, auto lane changes and traffic navigation. Among the wins during this trip was a key endorsement from a top Chinese auto association that said Tesla's Model 3 and Y cars were compliant with data-security regulations.&nbsp;

This development would enable local governments to allow Tesla cars into parts of China they were previously barred from, Chinese media reported. Separately, Tesla had also reached an agreement with Baidu to use the Chinese tech giant's mapping license for data collection on China's public roads, in a step towards FSD rollout in China.

However, the China Daily Newspaper said citing sources that the deal only meant that the accuracy of Baidu's maps provided to Tesla would be improved and that it had no direct relation with FSD. Also, for now, Musk has abandoned a longstanding goal for Tesla to make affordable electric cars for the masses. 
 
(with inputs from Reuters) 
&nbsp;

During his recent visit to China, Tesla CEO Elon Musk proposed testing the company's advanced driver-assistance package in the country by deploying it in robotaxis, state-backed China Daily newspaper reported on Wednesday.

During his recent visit to China, Tesla CEO Elon Musk proposed testing the company's advanced driver-assistance package in the country by deploying it in robotaxis, state-backed China Daily newspaper reported on Wednesday. Chinese officials welcomed the robotaxi tests in the country and hoped it would "set a good example", the newspaper quoted the sources as saying. However, the authorities in China did not immediately approve the widespread use of its Full Self-Driving (FSD) functions. Before the complete rollout of its FSD functions, Tesla still needs to get approval to collect and transfer data overseas to train Tesla cars for driver-assistance features. The newspaper added that this issue wasn't discussed in detail during Musk's visit. Also Read: Amazon unveils Volvo electric trucks for port operations in Southern California A person briefed on the matter told Reuters that Tesla is seeking to launch the robotaxi tests in Shanghai, where the company's largest factory globally is located. Musk's trip to Beijing last month was to discuss the rollout of FSD in the country and whether Tesla could secure government approvals to transfer data overseas that could prove pivotal in its development of autonomous vehicles. What is FSD? It is the most autonomous version of Autopilot software and was rolled out by Tesla in 2020. Its features include self-parking, auto lane changes and traffic navigation. Among the wins during this trip was a key endorsement from a top Chinese auto association that said Tesla's Model 3 and Y cars were compliant with data-security regulations. This development would enable local governments to allow Tesla cars into parts of China they were previously barred from, Chinese media reported. Separately, Tesla had also reached an agreement with Baidu to use the Chinese tech giant's mapping license for data collection on China's public roads, in a step towards FSD rollout in China. However, the China Daily Newspaper said citing sources that the deal only meant that the accuracy of Baidu's maps provided to Tesla would be improved and that it had no direct relation with FSD. Also, for now, Musk has abandoned a longstanding goal for Tesla to make affordable electric cars for the masses. (with inputs from Reuters)

Tesla CEO Elon Musk proposed to launch robotaxis in China during April visit

Swedish automaker Volvo Cars reported a rise of 27% in its April sales as compared to a year earlier. Sales stood at 65,838 cars last month, boosted by demand for electric and hybrid vehicles. Volvo Cars, majority-owned by China's Geely Holding witnessed sales of fully electric cars were up 94% and accounted for 26% of all sales globally in the month.

Volvo Cars' biggest market, Europe, saw jump of 65% in sales as compared to the same period last year, reaching 34,238 cars, with the company's fully electric small SUV, EX30, driving sales. In the United States, the company saw sales rise 10%, primarily driven by an 89% increase in plug-in hybrid car sales. Meanwhile, sales in China were down 3% compared to the same period last year.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/nio-plans-to-expand-global-presence-with-new-ev-models-718843">Nio plans to expand global presence with new EV models</a>

In a separate development, Volvo Cars has made a strategic investment in UK-based startup Breathe Battery Technologies with an aim to reduce charging time for its next generation of electric vehicles (EVs) by 30%. This move highlights Volvo’s commitment to enhancing the EV ownership experience and addressing consumer concerns over charging convenience.

Volvo Cars Tech Fund, the Swedish automaker’s corporate venture capital arm, facilitated this investment, marking a significant step towards advancing EV technology. Although the exact investment amount remains undisclosed, the company's partnership with Breathe Battery Technologies signals a shared vision for innovation in the EV sector.

With faster charging of EVs, customers will be encouraged to adopt battery-powered vehicles while those who already own EVs will witness a hassle-free ownership experience. Concerns related to charging infrastructure and charging speed is paramount in driving widespread EV adoption.

Apart from reducing EV charging times, Breathe Battery Technologies is also working on enhancing battery durability and performance. Their software solutions, already deployed in Oppo smartphones, aim to extend battery life and optimise performance. With its investment in Breathe Battery Technologies, Volvo Cars' underscores the company’s commitment to innovation and sustainability in the EV market.&nbsp;

Swedish automaker Volvo Cars reported a rise of 27% in its April sales as compared to a year earlier. Sales stood at 65,838 cars last month, boosted by demand for electric and hybrid vehicles.

Swedish automaker Volvo Cars reported a rise of 27% in its April sales as compared to a year earlier. Sales stood at 65,838 cars last month, boosted by demand for electric and hybrid vehicles. Volvo Cars, majority-owned by China's Geely Holding witnessed sales of fully electric cars were up 94% and accounted for 26% of all sales globally in the month. Volvo Cars' biggest market, Europe, saw jump of 65% in sales as compared to the same period last year, reaching 34,238 cars, with the company's fully electric small SUV, EX30, driving sales. In the United States, the company saw sales rise 10%, primarily driven by an 89% increase in plug-in hybrid car sales. Meanwhile, sales in China were down 3% compared to the same period last year. Also Read: Nio plans to expand global presence with new EV models In a separate development, Volvo Cars has made a strategic investment in UK-based startup Breathe Battery Technologies with an aim to reduce charging time for its next generation of electric vehicles (EVs) by 30%. This move highlights Volvo’s commitment to enhancing the EV ownership experience and addressing consumer concerns over charging convenience. Volvo Cars Tech Fund, the Swedish automaker’s corporate venture capital arm, facilitated this investment, marking a significant step towards advancing EV technology. Although the exact investment amount remains undisclosed, the company's partnership with Breathe Battery Technologies signals a shared vision for innovation in the EV sector. With faster charging of EVs, customers will be encouraged to adopt battery-powered vehicles while those who already own EVs will witness a hassle-free ownership experience. Concerns related to charging infrastructure and charging speed is paramount in driving widespread EV adoption. Apart from reducing EV charging times, Breathe Battery Technologies is also working on enhancing battery durability and performance. Their software solutions, already deployed in Oppo smartphones, aim to extend battery life and optimise performance. With its investment in Breathe Battery Technologies, Volvo Cars' underscores the company’s commitment to innovation and sustainability in the EV market.

Volvo Cars reports rise in April sales buoyed by EV demand

Due to the shift to electric vehicles in China and the US as well as a return to normal consumption after last year's bounce post Covid-19, analysts expect the global petrol demand growth to halve in 2024. This could lead to squeezing of the second-half refinery margins. The growth of gasoline has been lowest since 2020 with demand likely to rise 340,000 barrels per day (bpd) to stand at 26.5 million bpd this year, as per consultancy Wood Mackenzie.

The growth is down from growth of 700,000 bpd last year as China nears the point of peak transport fuel demand and the U.S. has surpassed it. "Penetration of electric vehicles has been increasing in US and China," Woodmac analyst Sushant Gupta told Reuters. "For this year Chinese demand will grow by only 10,000 bpd, due to higher EV uptake," he added.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/chinas-services-sector-shows-resilience-despite-easing-growth-caixin-pmi-reveals-718352">China's services sector shows resilience despite slowing growth, Caixin PMI reveals</a>

According to Consultancy Rystad Energy, the global gasoline demand is pegged at about 26 million bpd this year, up about 300,000 bpd from growth of about 700,000 bpd last year. This is fuelled by the consumption boom after the pandemic, analyst Mukesh Sahdev said.

World's largest auto market China was once the world's biggest driver of gasoline demand. However, now it is expected to account for more than half of all EV sales this year, as per the International Energy Agency. As per forecasts by a research arm of China National Petroleum Corp (CNPC), the world's largest crude importer's consumption is set to grow by about 1.3%, or about 2 million tons, to 165.1 million metric tons (3.8 million bpd) this year.

The research arm of the country's biggest refiner, Sinopec, expects gasoline demand to rise by 1.7%, or about 3 million tons, to stand at 182 million tons this year. On the other hand, the share of electric cars sold this year could reach 45% in China, about 25% in Europe and more than 11% in the United States, as per the IEA estimates.

On the contrary, countries are India and Indonesia are witnessing booming car sales, along with high economic growth and low EV penetration, driving gasoline demand. Petroleum consumption in India will hit a fresh record of 39.2 million tons (908,000 bpd) in the year to March 2025, up about 5% from 37.2 million tons in the year to March 2024, as per government estimates.

(with inputs from Reuters)

&nbsp;

Due to the shift to electric vehicles in China and the US as well as a return to normal consumption after last year's bounce post Covid-19, analysts expect the global petrol demand growth to halve in 2024.

Due to the shift to electric vehicles in China and the US as well as a return to normal consumption after last year's bounce post Covid-19, analysts expect the global petrol demand growth to halve in 2024. This could lead to squeezing of the second-half refinery margins. The growth of gasoline has been lowest since 2020 with demand likely to rise 340,000 barrels per day (bpd) to stand at 26.5 million bpd this year, as per consultancy Wood Mackenzie. The growth is down from growth of 700,000 bpd last year as China nears the point of peak transport fuel demand and the U.S. has surpassed it. "Penetration of electric vehicles has been increasing in US and China," Woodmac analyst Sushant Gupta told Reuters. "For this year Chinese demand will grow by only 10,000 bpd, due to higher EV uptake," he added. Also Read: China's services sector shows resilience despite slowing growth, Caixin PMI reveals According to Consultancy Rystad Energy, the global gasoline demand is pegged at about 26 million bpd this year, up about 300,000 bpd from growth of about 700,000 bpd last year. This is fuelled by the consumption boom after the pandemic, analyst Mukesh Sahdev said. World's largest auto market China was once the world's biggest driver of gasoline demand. However, now it is expected to account for more than half of all EV sales this year, as per the International Energy Agency. As per forecasts by a research arm of China National Petroleum Corp (CNPC), the world's largest crude importer's consumption is set to grow by about 1.3%, or about 2 million tons, to 165.1 million metric tons (3.8 million bpd) this year. The research arm of the country's biggest refiner, Sinopec, expects gasoline demand to rise by 1.7%, or about 3 million tons, to stand at 182 million tons this year. On the other hand, the share of electric cars sold this year could reach 45% in China, about 25% in Europe and more than 11% in the United States, as per the IEA estimates. On the contrary, countries are India and Indonesia are witnessing booming car sales, along with high economic growth and low EV penetration, driving gasoline demand. Petroleum consumption in India will hit a fresh record of 39.2 million tons (908,000 bpd) in the year to March 2025, up about 5% from 37.2 million tons in the year to March 2024, as per government estimates. (with inputs from Reuters)

EV growth in China, US could lead to slowing of gasoline demand this year

American automotive designer Rezvani Motors has teased its new armored luxury vehicle, called Arsenal, in a social media post. The retro-inspired SUV is scheduled to be launched in a few weeks into the automotive world. The SUV will come with cutting-edge armor technology. It makes use of "innovative composite material” instead of traditional ballistic steel. The composite material is lightweight and provides B6 levels of protection, meaning that the model will be able to handle an assortment of handguns and rifles.

Though Rezvani has not revealed much details about the Arsenal SUV but it has confirmed that it will have a “military-inspired design” that is “elegant and more incognito” than the other vehicles designed by the company. As one can gather from the teaser shared by the company, the model gets a bulging hood, a sloping roof, and blind spots. It will come as a seven-seater and offer traditional luxury features.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/rivian-secures-usd-827-mn-incentive-package-from-illinois-to-expand-operations-717681">Rivian secures USD 827 mn incentive package from Illinois to expand operations</a>

On the mechanical front, Arsenal will come with a V8 engine producing 420 hp of power, based on the Cadillac Escalade, Chevrolet Tahoe, or GMC Yukon models. All the three models also offer a 6.2-liter V8 with the same output. The company also confirmed the plans to bring in another variant of the vehicle with 675 hp of power.

The standard model will be priced at USD 225,000 while the armoring will come as an optional benefit with more premium. Customers can book their armored vehicle by paying a token amount of USD 150, which is a refundable deposit. Deliveries of the vehicle are slated to begin this summer.

Other models in Rezvani's portfolio include Tank, Hercules, and Vengeance, all adorning a rugged yet futuristic look. Speaking about the Arsenal, the company's CEO Ferris Rezvani, said “This is no ordinary car, it’s a thrilling blend of luxury, security, and innovative design. Your daily commutes are about to get a lot more interesting! Arsenal will showcase the newest and most advanced lightweight armor technology available on the market today."

 
&nbsp;

American automotive designer Rezvani Motors has teased its new armored luxury vehicle, called Arsenal, in a social media post. The retro-inspired SUV is scheduled to be launched in a few weeks into the automotive world.

American automotive designer Rezvani Motors has teased its new armored luxury vehicle, called Arsenal, in a social media post. The retro-inspired SUV is scheduled to be launched in a few weeks into the automotive world. The SUV will come with cutting-edge armor technology. It makes use of "innovative composite material” instead of traditional ballistic steel. The composite material is lightweight and provides B6 levels of protection, meaning that the model will be able to handle an assortment of handguns and rifles. Though Rezvani has not revealed much details about the Arsenal SUV but it has confirmed that it will have a “military-inspired design” that is “elegant and more incognito” than the other vehicles designed by the company. As one can gather from the teaser shared by the company, the model gets a bulging hood, a sloping roof, and blind spots. It will come as a seven-seater and offer traditional luxury features. Also Read: Rivian secures USD 827 mn incentive package from Illinois to expand operations On the mechanical front, Arsenal will come with a V8 engine producing 420 hp of power, based on the Cadillac Escalade, Chevrolet Tahoe, or GMC Yukon models. All the three models also offer a 6.2-liter V8 with the same output. The company also confirmed the plans to bring in another variant of the vehicle with 675 hp of power. The standard model will be priced at USD 225,000 while the armoring will come as an optional benefit with more premium. Customers can book their armored vehicle by paying a token amount of USD 150, which is a refundable deposit. Deliveries of the vehicle are slated to begin this summer. Other models in Rezvani's portfolio include Tank, Hercules, and Vengeance, all adorning a rugged yet futuristic look. Speaking about the Arsenal, the company's CEO Ferris Rezvani, said “This is no ordinary car, it’s a thrilling blend of luxury, security, and innovative design. Your daily commutes are about to get a lot more interesting! Arsenal will showcase the newest and most advanced lightweight armor technology available on the market today."

Rezvani Arsenal teased as most advanced armored luxury vehicle with up to 675 hp

Chinese electric vehicle maker BYD has issued a recall for 16,666 Seagull electric vehicles produced between April and May 2023. Some of the vehicles have issues with camera driver software which could lead the reversing screen display to fail. This can consequently affect the driver's field of vision and increase the probability of accidents, as per China's market regulator.&nbsp;

The auto giant will start fixing the software from May 20 onwards to reduce the chances of accidents due to this issue. The rectification will be done free of cost and by the means of over-the-air (OTA) technology.&nbsp;

BYD Seagull first went on sale in China in April 2023, when it had a starting price of RMB 73,800 (USD 10,200). It is one of the least expensive models sold by the company and also one of the highest-selling. It is sold as the Dolphin Mini in some overseas markets.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/tesla-shakes-up-staff-amid-revenue-decline-717024">Tesla shakes up staff amid revenue decline</a>

The compact pure electric car borrows an ocean-inspired aesthetic and is full of dynamic color schemes and lines. It boasts a streamlined body with smooth curves and elegant stance. On the inside, it comes with an intelligent cockpit system and a 10.1-inch adaptive rotating screen, which offers smart voice control, karaoke, Apple CarPlay and Android Auto, among other features.&nbsp;

Based on the in-house e-Platform 3.0, the Seagull benefits from an ultra- safe body structure alongside its exceptional intelligent driving experience. The vehicle comes equipped with the company's blade battery technology, offering a range of up to 380 kilometres under NEDC conditions. The vehicle can be charged from 30% to 80% in just 30 minutes with DC fast charging.

In a separate development, BYD unveiled its latest premium offering, the Denza Z9GT sedan, at the Beijing auto show. The model is based on the company's e3 technology and its powertrain houses three electric motors with peak power of 230 kW, 240 kW, and 240 kW respectively. The model churns out a combined power output of up to 1,000 hp. After the unveil at the auto show, BYD will hold another technology launch event for the car in May, and later launch it officially at the end of the year.

 
&nbsp;

Chinese electric vehicle maker BYD has issued a recall for 16,666 Seagull electric vehicles produced between April and May 2023. Some of the vehicles have issues with camera driver software which could lead the reversing screen display to fail.

Chinese electric vehicle maker BYD has issued a recall for 16,666 Seagull electric vehicles produced between April and May 2023. Some of the vehicles have issues with camera driver software which could lead the reversing screen display to fail. This can consequently affect the driver's field of vision and increase the probability of accidents, as per China's market regulator. The auto giant will start fixing the software from May 20 onwards to reduce the chances of accidents due to this issue. The rectification will be done free of cost and by the means of over-the-air (OTA) technology. BYD Seagull first went on sale in China in April 2023, when it had a starting price of RMB 73,800 (USD 10,200). It is one of the least expensive models sold by the company and also one of the highest-selling. It is sold as the Dolphin Mini in some overseas markets. Also Read: Tesla shakes up staff amid revenue decline The compact pure electric car borrows an ocean-inspired aesthetic and is full of dynamic color schemes and lines. It boasts a streamlined body with smooth curves and elegant stance. On the inside, it comes with an intelligent cockpit system and a 10.1-inch adaptive rotating screen, which offers smart voice control, karaoke, Apple CarPlay and Android Auto, among other features. Based on the in-house e-Platform 3.0, the Seagull benefits from an ultra- safe body structure alongside its exceptional intelligent driving experience. The vehicle comes equipped with the company's blade battery technology, offering a range of up to 380 kilometres under NEDC conditions. The vehicle can be charged from 30% to 80% in just 30 minutes with DC fast charging. In a separate development, BYD unveiled its latest premium offering, the Denza Z9GT sedan, at the Beijing auto show. The model is based on the company's e3 technology and its powertrain houses three electric motors with peak power of 230 kW, 240 kW, and 240 kW respectively. The model churns out a combined power output of up to 1,000 hp. After the unveil at the auto show, BYD will hold another technology launch event for the car in May, and later launch it officially at the end of the year.

BYD to recall over 16,000 Seagull EVs in China over faulty software

The US National Highway Traffic Safety Administration (NHTSA), in a bid to increase road safety, has made it mandatory for nearly all new passenger cars and trucks sold in the country to have automatic emergency braking systems by September 2029. The new rule aims to save at least 360 lives annually and prevent at least 24,000 injuries on US roads. It intends to curb the rising number of traffic deaths following the Covid-19 lockdowns.

The US Congress had directed the NHTSA in the 2021 infrastructure law to create a rule that would establish the minimum performance standards required for the automatic emergency braking (AEB) systems in vehicles. AEB systems function by making use of cameras and radars to detect when a vehicle is close to crashing. They then automatically apply brakes if the driver fails to do so in time.

<a href="https://www.wionews.com/business-economy/teslas-shares-surges-as-china-backs-elon-musks-full-self-driving-initiative-716525">Also Read:&nbsp;Tesla's shares surges as China backs Elon Musk's full self-driving initiative</a>

As per the rule established by the NHTSA, the AEB systems need to detect pedestrians in both daylight and at night. Initially, the US safety agency had proposed requiring nearly all vehicles to comply with the rule within three years after publication, but now the automakers are being given five years. However, the rule is flexible for some low-volume manufacturers, giving them an extension of one year to comply.

Further, the rule requires all cars and trucks be able to stop and avoid striking vehicles in front of them up to 62 miles per hour. The AEB system should be able to apply brakes automatically up to 90 mph when collision with a lead vehicle is imminent, and up to 45 mph when it detects a pedestrian.

US is making significant progress in increasing road safety features in its vehicles. In 2016, 20 automakers voluntarily agreed to make automatic emergency braking feature standard on nearly all US vehicles by 2022. According to the Insurance Institute for Highway Safety, all these automakers had equipped at least 95% of their vehicles with AEB as of December 2023.&nbsp;

Further, traffic deaths in the country fell by 3.6% last year, marking the second straight year of decline in fatalities. However, they still remain significantly above pre-pandemic levels and thus the government and automakers are putting in advanced efforts to curb traffic deaths.

(with inputs from Reuters)

The US National Highway Traffic Safety Administration (NHTSA), in a bid to increase road safety, has made it mandatory for nearly all new passenger cars and trucks sold in the country to have automatic emergency braking systems by September 2029.

The US National Highway Traffic Safety Administration (NHTSA), in a bid to increase road safety, has made it mandatory for nearly all new passenger cars and trucks sold in the country to have automatic emergency braking systems by September 2029. The new rule aims to save at least 360 lives annually and prevent at least 24,000 injuries on US roads. It intends to curb the rising number of traffic deaths following the Covid-19 lockdowns. The US Congress had directed the NHTSA in the 2021 infrastructure law to create a rule that would establish the minimum performance standards required for the automatic emergency braking (AEB) systems in vehicles. AEB systems function by making use of cameras and radars to detect when a vehicle is close to crashing. They then automatically apply brakes if the driver fails to do so in time. Also Read: Tesla's shares surges as China backs Elon Musk's full self-driving initiative As per the rule established by the NHTSA, the AEB systems need to detect pedestrians in both daylight and at night. Initially, the US safety agency had proposed requiring nearly all vehicles to comply with the rule within three years after publication, but now the automakers are being given five years. However, the rule is flexible for some low-volume manufacturers, giving them an extension of one year to comply. Further, the rule requires all cars and trucks be able to stop and avoid striking vehicles in front of them up to 62 miles per hour. The AEB system should be able to apply brakes automatically up to 90 mph when collision with a lead vehicle is imminent, and up to 45 mph when it detects a pedestrian. US is making significant progress in increasing road safety features in its vehicles. In 2016, 20 automakers voluntarily agreed to make automatic emergency braking feature standard on nearly all US vehicles by 2022. According to the Insurance Institute for Highway Safety, all these automakers had equipped at least 95% of their vehicles with AEB as of December 2023. Further, traffic deaths in the country fell by 3.6% last year, marking the second straight year of decline in fatalities. However, they still remain significantly above pre-pandemic levels and thus the government and automakers are putting in advanced efforts to curb traffic deaths. (with inputs from Reuters)

US mandates new cars to come with emergency braking systems by 2029

Author

Zee News Rajasthan

Editor

Deepika Agrawal

Home

Live Tv

Latest

World

India

Business

Entertainment

Sports

Opinions

Videos

Photos

Gravitas

Lifestyle

Science

Tech

Rajasthan News in Hindi: In-depth coverage of Rajasthan Crime, Political News, Education, Rajasthan Weather Update and Latest Rajasthan News on Zee News Rajasthan.