Maharashtra Chief Minister Devendra Fadnavis has postponed the decision to make Marathi mandatory for auto-rickshaw, taxi and cab drivers by one year. The move comes after talks with auto and taxi unions, offering relief to thousands of non-Marathi-speaking drivers across Mumbai and Maharashtra.

Maharashtra CM Fadnavis pauses 'marathi' directive 

UK manufacturers are bracing for a fresh trade shock as President Donald Trump imposes a 10% tariff on European imports. The move threatens Britain’s auto sector, raises export costs, and revives fears of a wider transatlantic trade dispute impacting jobs and growth.


UK auto sector braces for trade shock 

Chinese demand for foreign luxury cars is weakening as buyers turn away from big-ticket purchases amid a slowing economy. 

Chinese Buyers Cut Back on Big-Ticket Auto Spending

Chinese automakers achieved a new milestone in Europe in May, seizing record market share in hybrid vehicles and making significant inroads in electric cars, according to data from industry researcher Dataforce. Manufacturers led by BYD and SAIC Motor’s MG brand captured more than 9 per cent of Europe’s hybrid and electric vehicle (EV) market, the highest levels ever recorded for Chinese companies. Overall, Chinese-branded vehicles, including those with combustion engines, accounted for more than 5 per cent of all new car registrations in Europe for the first time.&nbsp;The latest figures highlight how Chinese carmakers are solidifying their presence in one of the world’s most competitive auto markets, leveraging strengths in battery technology and software to push forward despite regulatory hurdles. The strongest growth has come from hybrid models, which are not subject to the European Union’s (EU) recent tariffs on Chinese-made EVs. In May 2023, Chinese brands held just 1 per cent of the plug-in hybrid segment. By May 2024, they had claimed 12 per cent of plug-in hybrid sales and 7 per cent of the mild hybrid market.&nbsp;BYD has emerged as a standout performer. The company, which has named Europe its most important international market, has expanded its footprint even after the EU’s tariff imposition. “Instead of stopping them, the tariffs are forcing brands such as BYD to introduce more affordable models in the entry segments,” Felipe Munoz, an analyst at Jato Dynamics, told Bloomberg.&nbsp;To adapt, BYD is targeting mass-market categories with new models like the Dolphin Surf, an urban compact, and the Atto 2, a small SUV aimed at value-conscious buyers. MG, originally a British sports car marque now owned by SAIC, was among the hardest hit by the EU tariffs, facing duties of 45 per cent on its EVs. In response, MG has pivoted away from pure electric models, increasing its focus on hybrids.&nbsp;Despite regulatory headwinds, sales of Chinese vehicles in Europe rose 85 per cent in May to over 60,000 units, reaching levels not seen since mid-2024. Analysts say the growth trajectory of Chinese automakers in Europe is likely to continue, especially in hybrid segments that remain tariff-free.

Manufacturers led by BYD and SAIC Motor’s MG brand captured more than 9 per cent of Europe’s hybrid and electric vehicle market, the highest levels ever recorded for Chinese companies. 

Chinese automakers achieved a new milestone in Europe in May, seizing record market share in hybrid vehicles and making significant inroads in electric cars, according to data from industry researcher Dataforce. Manufacturers led by BYD and SAIC Motor’s MG brand captured more than 9 per cent of Europe’s hybrid and electric vehicle (EV) market, the highest levels ever recorded for Chinese companies. Overall, Chinese-branded vehicles, including those with combustion engines, accounted for more than 5 per cent of all new car registrations in Europe for the first time. The latest figures highlight how Chinese carmakers are solidifying their presence in one of the world’s most competitive auto markets, leveraging strengths in battery technology and software to push forward despite regulatory hurdles. The strongest growth has come from hybrid models, which are not subject to the European Union’s (EU) recent tariffs on Chinese-made EVs. In May 2023, Chinese brands held just 1 per cent of the plug-in hybrid segment. By May 2024, they had claimed 12 per cent of plug-in hybrid sales and 7 per cent of the mild hybrid market. BYD has emerged as a standout performer. The company, which has named Europe its most important international market, has expanded its footprint even after the EU’s tariff imposition. “Instead of stopping them, the tariffs are forcing brands such as BYD to introduce more affordable models in the entry segments,” Felipe Munoz, an analyst at Jato Dynamics, told Bloomberg. To adapt, BYD is targeting mass-market categories with new models like the Dolphin Surf, an urban compact, and the Atto 2, a small SUV aimed at value-conscious buyers. MG, originally a British sports car marque now owned by SAIC, was among the hardest hit by the EU tariffs, facing duties of 45 per cent on its EVs. In response, MG has pivoted away from pure electric models, increasing its focus on hybrids. Despite regulatory headwinds, sales of Chinese vehicles in Europe rose 85 per cent in May to over 60,000 units, reaching levels not seen since mid-2024. Analysts say the growth trajectory of Chinese automakers in Europe is likely to continue, especially in hybrid segments that remain tariff-free.

Manufacturers led by BYD and SAIC Motor’s MG brand captured more than 9 per cent of Europe’s hybrid and electric vehicle market, the highest levels ever recorded for Chinese companies.&nbsp;

Chinese carmakers hit record hybrid market share in Europe

Chinese electric vehicle (EV) giant BYD has overtaken Tesla in battery-electric vehicle (BEV) sales in Europe for the first time, marking a key turning point in the region’s EV landscape, according to market researcher JATO Dynamics.&nbsp;In April 2025, BYD registered 7,231 BEVs across 28 European countries, registering an increase of 169 per cent from the same month last year. Tesla, once the dominant EV force in Europe, registered 7,165 units, a steep decline of 49 per cent year-on-year. Though the margin between the two is narrow, analysts say the implications are far-reaching.&nbsp;The development comes amid broader growth in Europe’s EV sector, with BEV registrations rising 28 per cent in April. Volkswagen led that surge with a 61 per cent jump in EV sales, while its Skoda brand more than tripled EV registrations. BMW, Renault, Audi, and Kia also posted gains. In contrast, aside from Tesla, Volvo and Mercedes recorded declining numbers.&nbsp;BYD expands despite tariffs&nbsp;BYD’s rapid rise in Europe has been bolstered by a strategic pivot toward plug-in hybrids in response to new European Union (EU) tariffs on China-made BEVs. Including plug-in hybrids, BYD's total registrations soared 359 per cent in April, positioning it ahead of legacy automakers like Fiat and Seat in markets such as France.&nbsp;The tariffs—17 per cent for BYD compared to just 7.8 per cent for Tesla’s made-in-China cars—were intended to curb the influence of Chinese EV brands amid accusations of unfair trade practices. However, BYD has managed to offset the impact by diversifying its product lineup and offering competitive pricing. Hybrid vehicles, not subject to the same tariffs, have also proven key to this growth.&nbsp;Despite these trade hurdles, Chinese EV brands collectively saw a 59 per cent increase in European registrations in April. Tesla, on the other hand, continued its downward trend. In the first quarter of 2025, Tesla posted a 71 per cent drop in net income, and its sales have slumped each month this year—down 36 per cent in March, 47 per cent in February, and 50 per cent in January.&nbsp;Observers cite multiple factors for Tesla’s struggles, including limited model updates and CEO Elon Musk’s controversial political affiliations. His close ties to the Trump administration and public controversies have drawn protests in Europe and alienated consumers in a region known for its progressive policies.&nbsp;The road ahead&nbsp;BYD’s momentum is expected to continue as it prepares to open a manufacturing plant in Hungary, its first in Europe. Meanwhile, Tesla is working to expand its Berlin gigafactory in a bid to recapture market share.&nbsp;JATO Dynamics noted that although Tesla remains a significant global EV player, BYD’s expansion and local manufacturing plans put it in a strong position to challenge for dominance in key international markets.&nbsp;With the European EV market heating up, industry watchers say this rivalry is only just beginning—and it’s no longer guaranteed that Tesla will lead the charge.&nbsp;(With inputs from agencies)

Tesla, once the dominant EV force in Europe, registered a steep decline of 49 per cent year-on-year. Though the margin between the two is narrow, analysts say the implications are far-reaching.

Chinese electric vehicle (EV) giant BYD has overtaken Tesla in battery-electric vehicle (BEV) sales in Europe for the first time, marking a key turning point in the region’s EV landscape, according to market researcher JATO Dynamics. In April 2025, BYD registered 7,231 BEVs across 28 European countries, registering an increase of 169 per cent from the same month last year. Tesla, once the dominant EV force in Europe, registered 7,165 units, a steep decline of 49 per cent year-on-year. Though the margin between the two is narrow, analysts say the implications are far-reaching. The development comes amid broader growth in Europe’s EV sector, with BEV registrations rising 28 per cent in April. Volkswagen led that surge with a 61 per cent jump in EV sales, while its Skoda brand more than tripled EV registrations. BMW, Renault, Audi, and Kia also posted gains. In contrast, aside from Tesla, Volvo and Mercedes recorded declining numbers. BYD expands despite tariffs BYD’s rapid rise in Europe has been bolstered by a strategic pivot toward plug-in hybrids in response to new European Union (EU) tariffs on China-made BEVs. Including plug-in hybrids, BYD's total registrations soared 359 per cent in April, positioning it ahead of legacy automakers like Fiat and Seat in markets such as France. The tariffs—17 per cent for BYD compared to just 7.8 per cent for Tesla’s made-in-China cars—were intended to curb the influence of Chinese EV brands amid accusations of unfair trade practices. However, BYD has managed to offset the impact by diversifying its product lineup and offering competitive pricing. Hybrid vehicles, not subject to the same tariffs, have also proven key to this growth. Despite these trade hurdles, Chinese EV brands collectively saw a 59 per cent increase in European registrations in April. Tesla, on the other hand, continued its downward trend. In the first quarter of 2025, Tesla posted a 71 per cent drop in net income, and its sales have slumped each month this year—down 36 per cent in March, 47 per cent in February, and 50 per cent in January. Observers cite multiple factors for Tesla’s struggles, including limited model updates and CEO Elon Musk’s controversial political affiliations. His close ties to the Trump administration and public controversies have drawn protests in Europe and alienated consumers in a region known for its progressive policies. The road ahead BYD’s momentum is expected to continue as it prepares to open a manufacturing plant in Hungary, its first in Europe. Meanwhile, Tesla is working to expand its Berlin gigafactory in a bid to recapture market share. JATO Dynamics noted that although Tesla remains a significant global EV player, BYD’s expansion and local manufacturing plans put it in a strong position to challenge for dominance in key international markets. With the European EV market heating up, industry watchers say this rivalry is only just beginning—and it’s no longer guaranteed that Tesla will lead the charge. (With inputs from agencies)

Tesla, once the dominant EV force in Europe, registered a steep decline of 49 per cent year-on-year. Though the margin between the two is narrow, analysts say the implications are far-reaching.

BYD overtakes Tesla in Europe EV sales for the first time

In a major move to expand its footprint in the global premium motorcycle segment, Bajaj Auto Ltd announced plans on May 22 to acquire a controlling stake in Austrian motorcycle maker KTM AG. The deal, subject to regulatory clearances, will see Bajaj shift from a dormant minority stakeholder to the majority owner of KTM through its Netherlands-based subsidiary, Bajaj Auto International Holdings BV (BAIHBV).Bajaj, one of India's leading two-wheeler makers, has outlined a comprehensive €800 million ($903.75 million) funding package to support KTM’s financial restructuring and revival. The funding includes €600 million ($677.82 million) in fresh capital being deployed now, in addition to €200 million ($225.91 million) already infused earlier to address KTM’s urgent liquidity needs.&nbsp;Rescuing a storied brand&nbsp;KTM AG, known for high-performance motorcycle brands such as KTM, Husqvarna, and GASGAS, filed for judicial restructuring in November 2024 due to spiralling debt and operational bottlenecks.On February 25, 2025, its creditors approved a restructuring plan that proposed a one-time payout of 30 per cent of their claims by May 23. Bajaj’s financial support is crucial for meeting this deadline and reviving the company’s stalled operations.The €800 million ($903.75 million) package includes a €450 million ($508.30 million) secured term loan to KTM and €150 million ($169.41 million) in convertible bonds issued by Pierer Bajaj AG (PBAG)—a joint venture between Bajaj and Austrian entrepreneur Stefan Pierer.Bajaj’s BAIHBV currently holds a 49.9 per cent stake in PBAG, which owns 75 per cent of KTM’s listed parent entity, Pierer Mobility AG (PMAG). The deal will enable Bajaj to acquire full control of PBAG, thereby gaining indirect control over KTM.Additionally, BAIHBV has assumed a commitment worth €80 million from Dabepo Holding GmbH to prevent loan foreclosure that could jeopardise KTM’s revival plans.&nbsp;Strategic shift for Bajaj Auto&nbsp;“This twin move of taking ownership (subject to approvals) and paring down debt by providing liquidity at a crucial stage positions Bajaj Auto as a driving force in shaping the future of one of the world’s most admired high-performance motorcycle companies,” the company said in a statement.Bajaj’s involvement with KTM dates back to 2007. Over the years, the partnership has expanded to include joint development, manufacturing, and export of KTM motorcycles from India to over 80 countries. Bajaj Auto currently holds an effective 37.5 per cent stake in KTM via PMAG.Post-deal, Bajaj aims to resume production at KTM’s Austrian facilities after months of stoppage and enhance operations through its established India-based development programmes. Long-time KTM CEO Stefan Pierer is expected to step down as part of the transition.The deal not only marks a significant governance shift but also positions Bajaj Auto to leverage KTM’s global brand equity for wider opportunities in technology innovation and international market expansion.The court is expected to confirm KTM’s restructuring plan by mid-June, following which the creditor payments will be released and legal proceedings concluded. In parallel, Bajaj is seeking approvals from Austria’s Takeover Commission, Foreign Investment Control, and Merger Control Authorities.&nbsp;(With inputs from agencies)

The deal, subject to regulatory clearances, will see Bajaj Auto shift from a dormant minority stakeholder to the majority owner of KTM through its Netherlands-based subsidiary, Bajaj Auto International Holdings BV.

In a major move to expand its footprint in the global premium motorcycle segment, Bajaj Auto Ltd announced plans on May 22 to acquire a controlling stake in Austrian motorcycle maker KTM AG. The deal, subject to regulatory clearances, will see Bajaj shift from a dormant minority stakeholder to the majority owner of KTM through its Netherlands-based subsidiary, Bajaj Auto International Holdings BV (BAIHBV). Bajaj, one of India's leading two-wheeler makers, has outlined a comprehensive €800 million ($903.75 million) funding package to support KTM’s financial restructuring and revival. The funding includes €600 million ($677.82 million) in fresh capital being deployed now, in addition to €200 million ($225.91 million) already infused earlier to address KTM’s urgent liquidity needs. Rescuing a storied brand KTM AG, known for high-performance motorcycle brands such as KTM, Husqvarna, and GASGAS, filed for judicial restructuring in November 2024 due to spiralling debt and operational bottlenecks. On February 25, 2025, its creditors approved a restructuring plan that proposed a one-time payout of 30 per cent of their claims by May 23. Bajaj’s financial support is crucial for meeting this deadline and reviving the company’s stalled operations. The €800 million ($903.75 million) package includes a €450 million ($508.30 million) secured term loan to KTM and €150 million ($169.41 million) in convertible bonds issued by Pierer Bajaj AG (PBAG)—a joint venture between Bajaj and Austrian entrepreneur Stefan Pierer. Bajaj’s BAIHBV currently holds a 49.9 per cent stake in PBAG, which owns 75 per cent of KTM’s listed parent entity, Pierer Mobility AG (PMAG). The deal will enable Bajaj to acquire full control of PBAG, thereby gaining indirect control over KTM. Additionally, BAIHBV has assumed a commitment worth €80 million from Dabepo Holding GmbH to prevent loan foreclosure that could jeopardise KTM’s revival plans. Strategic shift for Bajaj Auto “This twin move of taking ownership (subject to approvals) and paring down debt by providing liquidity at a crucial stage positions Bajaj Auto as a driving force in shaping the future of one of the world’s most admired high-performance motorcycle companies,” the company said in a statement. Bajaj’s involvement with KTM dates back to 2007. Over the years, the partnership has expanded to include joint development, manufacturing, and export of KTM motorcycles from India to over 80 countries. Bajaj Auto currently holds an effective 37.5 per cent stake in KTM via PMAG. Post-deal, Bajaj aims to resume production at KTM’s Austrian facilities after months of stoppage and enhance operations through its established India-based development programmes. Long-time KTM CEO Stefan Pierer is expected to step down as part of the transition. The deal not only marks a significant governance shift but also positions Bajaj Auto to leverage KTM’s global brand equity for wider opportunities in technology innovation and international market expansion. The court is expected to confirm KTM’s restructuring plan by mid-June, following which the creditor payments will be released and legal proceedings concluded. In parallel, Bajaj is seeking approvals from Austria’s Takeover Commission, Foreign Investment Control, and Merger Control Authorities. (With inputs from agencies)

The deal, subject to regulatory clearances, will see Bajaj Auto shift from a dormant minority stakeholder to the majority owner of KTM through its Netherlands-based subsidiary, Bajaj Auto International Holdings BV.

Bajaj Auto to acquire majority stake in KTM with €800 million revival package

Auto stocks fell on Thursday as the US is pushing ahead with some harsh tariffs on automakers and threatened more sweeping trade taxes, reinforcing investor concern about the hit to global economic growth. Asian shares skidded with Wall Street after Trump's announcement. Shares in Japan's biggest car companies fell. Stocks of Japanese automakers Toyota, Nissan, Mitsubishi Motors, and South Korea's Hyundai fell by over 3%.

Trump's 25% auto import tax triggers trade war fears

Several car factories in Europe and North America face imminent closure or sale this year. This comes as automakers grapple with overcapacity and intense price competition. According to a Gartner report, automakers are expected to cut production capacity on both continents by 2025, driven by tightening emissions targets and tariff challenges. Watch in for more details!

Auto giants face factory shutdowns

Gartner: Auto brands to cut production capacity by 2025

In India, there's a growing desire for car ownership that's causing a significant increase in auto loans. This trend isn't limited to metropolitan cities alone, but also spreading to smaller cities. As car prices rise, consumers are choosing loans with longer repayment periods to make their purchases more affordable.

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Data collected by Jato Dynamics shows that major automobile manufacturers like Maruti Suzuki, Hyundai, Mahindra, Tata Motors, Honda, and Toyota anticipate finance penetration to increase from 64 to 75 per cent in the pre-pandemic era to 75 to 84 per cent in 2024. The statistics reveal that approximately 79.1 per cent of car purchases in India are financed through bank loans or non-banking financial companies (NBFCs). This shows the enduring status of cars as a symbol of social advancement in the world's most populous country.

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The inclination towards financing is particularly evident in tier II and III cities, where 75 per cent of buyers opt for loans. This indicates that the aspiration for car ownership has expanded beyond the boundaries of major cities, according to a high-ranking official at a South India-based NBFC.

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While traditional financing methods dominate the market, alternative models such as leasing and subscription services are struggling to gain a foothold in India. Leasing accounts for only 1.5 per cent of the market, while subscription services make up a mere 0.1 per cent. Experts attribute this lack of popularity to regulatory challenges, complicated logistics related to insurance and maintenance, and a cultural preference for outright ownership.

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A senior official at a prominent South India-based NBFC pointed out that the absence of GST benefits in leasing makes them hesitant to offer it to consumers. The official believes that leasing is more suitable for specialised leasing companies. In contrast to India, leasing comprises about half of new car sales in mature automotive markets like Europe. The leasing market is projected to grow by 4.5 per cent annually, reaching USD 12.17 billion between 2023 and 2028.

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Cash purchases still account for 19.3 per cent of total car deals, representing both affluent buyers and those unable to secure loans, according to experts.

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Auto dealers report that finance penetration is growing rapidly. Nikunj Sanghi, a prominent automotive dealer, stated that despite rising vehicle prices, consumers are now open to taking longer-term loans with minimal down payments. He added that the loan-to-vehicle ratio has significantly increased, now exceeding 85 per cent compared to 30 to 35 per cent previously.

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Ravi Bhatia, president of Jato Dynamics, suggests that the willingness to take on long-term debt for depreciating assets like cars indicates confidence in future earning potential and economic stability among Indian consumers.

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Financiers see great potential for auto loans in the upcoming festive period, which is crucial for consumer goods purchases. Banks and NBFCs are becoming more aggressive by offering competitive interest rates and faster documentation. Self-employed individuals particularly prefer loans, as they can invest their funds in their businesses where the return on investment often exceeds the interest cost, according to an official from a Mumbai-based bank that is a leading auto financier.

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With the second half of the calendar year expected to outperform the first half for vehicle financiers, Axis Capital predicts that Mahindra Finance will report a 1.9 per cent Return on Assets (RoA) for FY25. A comparison with Cholamandalam Investment &amp; Finance Company's vehicle finance on key metrics (Q1FY25) suggests that Mahindra Finance's business potential remains strong and should converge to better return ratios as growth accelerates.

In India, there's a growing desire for car ownership that's causing a significant increase in auto loans. This trend isn't limited to metropolitan cities alone, but also spreading to smaller cities.

In India, there's a growing desire for car ownership that's causing a significant increase in auto loans. This trend isn't limited to metropolitan cities alone, but also spreading to smaller cities. As car prices rise, consumers are choosing loans with longer repayment periods to make their purchases more affordable. Data collected by Jato Dynamics shows that major automobile manufacturers like Maruti Suzuki, Hyundai, Mahindra, Tata Motors, Honda, and Toyota anticipate finance penetration to increase from 64 to 75 per cent in the pre-pandemic era to 75 to 84 per cent in 2024. The statistics reveal that approximately 79.1 per cent of car purchases in India are financed through bank loans or non-banking financial companies (NBFCs). This shows the enduring status of cars as a symbol of social advancement in the world's most populous country. The inclination towards financing is particularly evident in tier II and III cities, where 75 per cent of buyers opt for loans. This indicates that the aspiration for car ownership has expanded beyond the boundaries of major cities, according to a high-ranking official at a South India-based NBFC. While traditional financing methods dominate the market, alternative models such as leasing and subscription services are struggling to gain a foothold in India. Leasing accounts for only 1.5 per cent of the market, while subscription services make up a mere 0.1 per cent. Experts attribute this lack of popularity to regulatory challenges, complicated logistics related to insurance and maintenance, and a cultural preference for outright ownership. A senior official at a prominent South India-based NBFC pointed out that the absence of GST benefits in leasing makes them hesitant to offer it to consumers. The official believes that leasing is more suitable for specialised leasing companies. In contrast to India, leasing comprises about half of new car sales in mature automotive markets like Europe. The leasing market is projected to grow by 4.5 per cent annually, reaching USD 12.17 billion between 2023 and 2028. Cash purchases still account for 19.3 per cent of total car deals, representing both affluent buyers and those unable to secure loans, according to experts. Auto dealers report that finance penetration is growing rapidly. Nikunj Sanghi, a prominent automotive dealer, stated that despite rising vehicle prices, consumers are now open to taking longer-term loans with minimal down payments. He added that the loan-to-vehicle ratio has significantly increased, now exceeding 85 per cent compared to 30 to 35 per cent previously. Ravi Bhatia, president of Jato Dynamics, suggests that the willingness to take on long-term debt for depreciating assets like cars indicates confidence in future earning potential and economic stability among Indian consumers. Financiers see great potential for auto loans in the upcoming festive period, which is crucial for consumer goods purchases. Banks and NBFCs are becoming more aggressive by offering competitive interest rates and faster documentation. Self-employed individuals particularly prefer loans, as they can invest their funds in their businesses where the return on investment often exceeds the interest cost, according to an official from a Mumbai-based bank that is a leading auto financier. With the second half of the calendar year expected to outperform the first half for vehicle financiers, Axis Capital predicts that Mahindra Finance will report a 1.9 per cent Return on Assets (RoA) for FY25. A comparison with Cholamandalam Investment & Finance Company's vehicle finance on key metrics (Q1FY25) suggests that Mahindra Finance's business potential remains strong and should converge to better return ratios as growth accelerates.

Indian small towns go big on auto financing

Europe faces a reality check as its weak auto market is set to face more closures. In their latest move, Audi takes the centre stage as the firm is considering closing the Brussels plant. Analysts says this move is indicates the troubles afflicting Europe's wider electric car industry amid low demand and competition from China.

Audi: More than 3,000 jobs at risk in Europe

In August, sales of passenger vehicles in the Indian market experienced a decline for the second consecutive month, attributed to a high comparative base and car manufacturers reducing dispatches to better manage inventory levels at dealerships. Industry estimates indicate that approximately 350,000 to 355,000 cars, including sedans and utility vehicles, were dispatched from factories to dealerships last month. This represents a decrease of around 1.7 per cent to 3 per cent compared to the 361,123 vehicles sold in August 2023. It's important to note that automakers in India typically report wholesale dispatch figures rather than retail sales to end customers.

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Despite this downturn, car manufacturers remain optimistic about robust demand in the upcoming festive season, particularly with Ganesh Chaturthi celebrations in Maharashtra starting on September 7 and Onam festivities in Kerala from September 16. Market leader Maruti Suzuki reported an 8.4 per cent drop in sales, totaling 143,075 units. Partho Banerjee, Senior Executive Officer for Marketing and Sales at Maruti Suzuki, explained, “We calibrated our dispatches with market demand to bring down stocks at dealerships. Our inventory in the channel has now decreased to 36 days from 38 days previously. We aim to maintain this level because reducing stocks further could affect vehicle availability and result in lost sales during the festive season”.

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Banerjee also noted a positive response to their vehicles in Kerala, particularly since the onset of the Chingham month on August 17, with bookings increasing by 7 per cent in the state. He expressed optimism for retail sales to rise during Onam, stating, “Overall, our wholesale has aligned with retail sales in August, which is a good sign.” Currently, Maruti Suzuki has an order bank of 165,000 vehicles.

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In August, SUVs accounted for a significant 55 per cent of total passenger vehicle sales in the domestic market. Hyundai, too, reported that SUVs, particularly models like the CRETA, VENUE, and EXTER, remain key growth drivers, contributing 66.8 per cent to domestic sales. Tarun Garg, Whole-time Director and Chief Operating Officer of Hyundai, mentioned the upcoming launch of the new 6 and 7-seater SUV, Hyundai ALCAZAR, expressing confidence in a strong response during the festive season. However, Hyundai's local sales fell by 8 per cent to 49,525 units last month. Tata Motors, another leading domestic automaker, also saw a decline of 3 per cent, selling 44,142 units in August.

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Conversely, some manufacturers like Toyota Kirloskar Motor (TKM), Kia, and MG Motor India reported growth in their sales last month, driven by increased demand for their utility vehicles. Toyota's sales surged by 36.5 per cent to 28,589 units, while Kia experienced a 17.2 per cent rise, selling 22,523 units. MG Motor India sold 4,571 units, with over a third of these sales attributed to electric vehicles. 

Sabari Manohar, Vice President of Sales, Service, and Used Car Business at TKM, noted, “As we approach the festive season, demand for our products remains buoyant, and we are already witnessing increased consumer interest and footfall across all our dealerships. SUVs and MPVs continue to significantly contribute to our sales numbers, reflecting a growing preference for these segments, even in tier 2 and tier 3 markets”.

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Hardeep Singh Brar, Senior Vice President and National Head of Sales &amp; Marketing at Kia, highlighted the company’s focus on optimizing its product offerings to meet evolving customer needs, stating, “Kia India is committed to offering vehicles that resonate well with our customers' preferences and aspirations while continuously expanding our presence in the country”.

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In the two-wheeler segment, TVS Motor Company reported a 13 per cent increase in sales, reaching 289,063 units, attributed to a resurgence in consumer demand across both rural and urban markets. However, the commercial vehicle sector saw subdued sales, with Tata Motors reporting a 16 per cent decline, selling 25,864 units in August.

In August, sales of passenger vehicles in the Indian market experienced a decline for the second consecutive month, attributed to a high comparative base and car manufacturers reducing dispatches to better manage inventory levels at dealerships.

In August, sales of passenger vehicles in the Indian market experienced a decline for the second consecutive month, attributed to a high comparative base and car manufacturers reducing dispatches to better manage inventory levels at dealerships. Industry estimates indicate that approximately 350,000 to 355,000 cars, including sedans and utility vehicles, were dispatched from factories to dealerships last month. This represents a decrease of around 1.7 per cent to 3 per cent compared to the 361,123 vehicles sold in August 2023. It's important to note that automakers in India typically report wholesale dispatch figures rather than retail sales to end customers. Despite this downturn, car manufacturers remain optimistic about robust demand in the upcoming festive season, particularly with Ganesh Chaturthi celebrations in Maharashtra starting on September 7 and Onam festivities in Kerala from September 16. Market leader Maruti Suzuki reported an 8.4 per cent drop in sales, totaling 143,075 units. Partho Banerjee, Senior Executive Officer for Marketing and Sales at Maruti Suzuki, explained, “We calibrated our dispatches with market demand to bring down stocks at dealerships. Our inventory in the channel has now decreased to 36 days from 38 days previously. We aim to maintain this level because reducing stocks further could affect vehicle availability and result in lost sales during the festive season”. Banerjee also noted a positive response to their vehicles in Kerala, particularly since the onset of the Chingham month on August 17, with bookings increasing by 7 per cent in the state. He expressed optimism for retail sales to rise during Onam, stating, “Overall, our wholesale has aligned with retail sales in August, which is a good sign.” Currently, Maruti Suzuki has an order bank of 165,000 vehicles. In August, SUVs accounted for a significant 55 per cent of total passenger vehicle sales in the domestic market. Hyundai, too, reported that SUVs, particularly models like the CRETA, VENUE, and EXTER, remain key growth drivers, contributing 66.8 per cent to domestic sales. Tarun Garg, Whole-time Director and Chief Operating Officer of Hyundai, mentioned the upcoming launch of the new 6 and 7-seater SUV, Hyundai ALCAZAR, expressing confidence in a strong response during the festive season. However, Hyundai's local sales fell by 8 per cent to 49,525 units last month. Tata Motors, another leading domestic automaker, also saw a decline of 3 per cent, selling 44,142 units in August. Conversely, some manufacturers like Toyota Kirloskar Motor (TKM), Kia, and MG Motor India reported growth in their sales last month, driven by increased demand for their utility vehicles. Toyota's sales surged by 36.5 per cent to 28,589 units, while Kia experienced a 17.2 per cent rise, selling 22,523 units. MG Motor India sold 4,571 units, with over a third of these sales attributed to electric vehicles. Sabari Manohar, Vice President of Sales, Service, and Used Car Business at TKM, noted, “As we approach the festive season, demand for our products remains buoyant, and we are already witnessing increased consumer interest and footfall across all our dealerships. SUVs and MPVs continue to significantly contribute to our sales numbers, reflecting a growing preference for these segments, even in tier 2 and tier 3 markets”. Hardeep Singh Brar, Senior Vice President and National Head of Sales & Marketing at Kia, highlighted the company’s focus on optimizing its product offerings to meet evolving customer needs, stating, “Kia India is committed to offering vehicles that resonate well with our customers' preferences and aspirations while continuously expanding our presence in the country”. In the two-wheeler segment, TVS Motor Company reported a 13 per cent increase in sales, reaching 289,063 units, attributed to a resurgence in consumer demand across both rural and urban markets. However, the commercial vehicle sector saw subdued sales, with Tata Motors reporting a 16 per cent decline, selling 25,864 units in August.

Auto sales decline in August for second consecutive month

The Automotive Component Manufacturers Association of India (ACMA), through its latest Industry Performance Review FY 2023-24, has outlined that the country's auto component industry is now progressing significantly and is stronger across several fronts despite various odds.

The turnover of the auto component industry stood at a substantial INR 6.14 lakh crore (USD 74.1 billion) for the period between April 2023 to March 2024, marking an impressive 9.8% increase compared to the previous fiscal year. This growth was underpinned by steady vehicle production, a thriving aftermarket, and expanding exports.

Vinnie Mehta, Director General of ACMA, highlighted the sector's performance, noting that domestic component sales to original equipment manufacturers (OEMs) grew by 8.9% to INR 5.18 lakh crore. Notably, the electric vehicle (EV) segment contributed 6% to total component production. Meanwhile, exports of auto components grew by 5.5% to USD 21.2 billion, despite geopolitical tensions and rising logistics costs. Imports also saw a modest increase of 3% to USD 20.9 billion, resulting in a trade surplus of USD 300 million.

Shradha Suri Marwah, President of ACMA and CMD of Subros, emphasised the sector's resilience and adaptation amid global uncertainties. She pointed out that while the first quarter of FY25 saw a slight slowdown in vehicle sales due to adverse weather conditions and electoral effects, the industry remains optimistic. With favorable macroeconomic indicators and government policies supporting growth, Marwah anticipates continued strong performance in FY25.

Although the lengthened after-market segment expanded to a turnover of INR 93,886 crore (USD 11.3 billion) for the fiscal year FY 2023-24, it rose 10% overtime from the prior year. This was due to better traffic flow in the market as well as higher demand for used vehicles aided in equal measure by enhanced e-commerce acceptance in the rural market.

Finally, based on the data included in the ACMA report, it is possible to conclude that effective further from now, the auto component industry remains one of the most influential segments of the Indian economy. By maintaining a steady velocity in car manufacturing and increasing the pace of localisation strategies, this sector is found to be in the right track of unlocking new prospects in China as well as in the global market.

Major exported products in this sector were drive transmission and steering, engines and their parts, bodies and chassis, suspension and braking systems, among others. Likewise, the import section contained objects like engines and their parts, body and chassis, and drive transmission and steering used largely from Asia, Europe, and North America.

Launch of ACMA Mobility Foundation

At the event, Mehta also announced the launch of ACMA Mobility Foundation, a new entity under the umbrella of ACMA to foster inclusive growth and development by integrating non-traditional automotive players in the value chain. By doing so, the apex body aims to bring the new-age, innovative startups and non-traditional technology players under its gamut.

 
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The Automotive Component Manufacturers Association of India (ACMA), through its latest Industry Performance Review FY 2023-24, has outlined that the country's auto component industry is now progressing significantly and is stronger across several fronts despite various odds.

The Automotive Component Manufacturers Association of India (ACMA), through its latest Industry Performance Review FY 2023-24, has outlined that the country's auto component industry is now progressing significantly and is stronger across several fronts despite various odds. The turnover of the auto component industry stood at a substantial INR 6.14 lakh crore (USD 74.1 billion) for the period between April 2023 to March 2024, marking an impressive 9.8% increase compared to the previous fiscal year. This growth was underpinned by steady vehicle production, a thriving aftermarket, and expanding exports. Vinnie Mehta, Director General of ACMA, highlighted the sector's performance, noting that domestic component sales to original equipment manufacturers (OEMs) grew by 8.9% to INR 5.18 lakh crore. Notably, the electric vehicle (EV) segment contributed 6% to total component production. Meanwhile, exports of auto components grew by 5.5% to USD 21.2 billion, despite geopolitical tensions and rising logistics costs. Imports also saw a modest increase of 3% to USD 20.9 billion, resulting in a trade surplus of USD 300 million. Shradha Suri Marwah, President of ACMA and CMD of Subros, emphasised the sector's resilience and adaptation amid global uncertainties. She pointed out that while the first quarter of FY25 saw a slight slowdown in vehicle sales due to adverse weather conditions and electoral effects, the industry remains optimistic. With favorable macroeconomic indicators and government policies supporting growth, Marwah anticipates continued strong performance in FY25. Although the lengthened after-market segment expanded to a turnover of INR 93,886 crore (USD 11.3 billion) for the fiscal year FY 2023-24, it rose 10% overtime from the prior year. This was due to better traffic flow in the market as well as higher demand for used vehicles aided in equal measure by enhanced e-commerce acceptance in the rural market. Finally, based on the data included in the ACMA report, it is possible to conclude that effective further from now, the auto component industry remains one of the most influential segments of the Indian economy. By maintaining a steady velocity in car manufacturing and increasing the pace of localisation strategies, this sector is found to be in the right track of unlocking new prospects in China as well as in the global market. Major exported products in this sector were drive transmission and steering, engines and their parts, bodies and chassis, suspension and braking systems, among others. Likewise, the import section contained objects like engines and their parts, body and chassis, and drive transmission and steering used largely from Asia, Europe, and North America. Launch of ACMA Mobility Foundation At the event, Mehta also announced the launch of ACMA Mobility Foundation, a new entity under the umbrella of ACMA to foster inclusive growth and development by integrating non-traditional automotive players in the value chain. By doing so, the apex body aims to bring the new-age, innovative startups and non-traditional technology players under its gamut.

Indian auto component industry clocked 9.8% growth in FY24 at INR 6.14 lakh crore

The US National Highway Traffic Safety Administration announced on Wednesday that BMW has planned a recall of 291,112 cars in the United States because of risks that interior cargo rails might get separated during rear impacts, increasing the danger of individuals being harmed. The regulatory body indicated to the owners that the dealerships would remove the rear cargo rail attachment bolts in a non-costly manner.

The recall also covers specific models such as X3 sDrive30i, X3 xDrive30i, X3 M40i and X3 M made from 2018 to 2023. Because of this safety concern, it is necessary to recall these vehicles to fix the potential problem with the cargo rails that can become detached during a rear impact and present a real danger to the safety of occupants. 
 
Also Read:&nbsp;<a href="https://www.wionews.com/autonews/porsche-cuts-forecasts-due-to-alloy-shortage-shares-fall-743785">Porsche cuts forecasts due to alloy shortage, shares fall</a> 
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Still, to revert to the point, BMW’s decision to launch this recall attests to their dedication to their buyers’ security. In doing so, the automaker proposes to replace bolts that fix the rail in the rear cargo area and minimise the risks of the detachment of these parts in the event of a crash scenario.

BMW drivers are encouraged to promptly visit authorised dealers for remedial works to their vehicles at the soonest possible time. This is a preventive measure focused on responding immediately to the safety issue that has been highlighted to ensure that the vehicles meet the safety requirements as set herein and by other regulatory bodies.

The formation of the US National Highway Traffic Safety Administration ensures that automotive safety has been a focal point for regulation to prevent consumers from being at the receiving end of dangers arising from plausible defects in automobiles. Thus, BMW’s decision to recall these cars is aligned with the high standards of car safety that consumers expect and supports the manufacturer’s effort to ensure that no dangerous vehicles are on the road.

The US National Highway Traffic Safety Administration announced on Wednesday that BMW has planned a recall of 291,112 cars in the United States because of risks that interior cargo rails might get separated during rear impacts, increasing the danger of individuals being harmed.

The US National Highway Traffic Safety Administration announced on Wednesday that BMW has planned a recall of 291,112 cars in the United States because of risks that interior cargo rails might get separated during rear impacts, increasing the danger of individuals being harmed. The regulatory body indicated to the owners that the dealerships would remove the rear cargo rail attachment bolts in a non-costly manner. The recall also covers specific models such as X3 sDrive30i, X3 xDrive30i, X3 M40i and X3 M made from 2018 to 2023. Because of this safety concern, it is necessary to recall these vehicles to fix the potential problem with the cargo rails that can become detached during a rear impact and present a real danger to the safety of occupants. Also Read: Porsche cuts forecasts due to alloy shortage, shares fall Still, to revert to the point, BMW’s decision to launch this recall attests to their dedication to their buyers’ security. In doing so, the automaker proposes to replace bolts that fix the rail in the rear cargo area and minimise the risks of the detachment of these parts in the event of a crash scenario. BMW drivers are encouraged to promptly visit authorised dealers for remedial works to their vehicles at the soonest possible time. This is a preventive measure focused on responding immediately to the safety issue that has been highlighted to ensure that the vehicles meet the safety requirements as set herein and by other regulatory bodies. The formation of the US National Highway Traffic Safety Administration ensures that automotive safety has been a focal point for regulation to prevent consumers from being at the receiving end of dangers arising from plausible defects in automobiles. Thus, BMW’s decision to recall these cars is aligned with the high standards of car safety that consumers expect and supports the manufacturer’s effort to ensure that no dangerous vehicles are on the road.

BMW to recall over 290,000 faulty vehicles in US over safety concerns

Rather than diluting everything that was once exotic about Havana and its image of vintage cars cruising past beautiful old buildings, the electric scooters add a new dimension to the perception of the city and the outlook of transport challenges that Cubans need to address. Electric motorcycles are fixing a lot of issues in Cuba; they are utilised for nearly all the tasks.&nbsp;

A Cuban hotel worker, Omar Cortina, who in recent past bought his first electric vehicle - a scooter with lithium battery, told Reuters that the streets of Cuba during his childhood up until the 1990s looked like those from the 1950s: roads in bad condition, lot of smoke from old cars, not a lot of vehicles on the road. On the contrary, the emergence of electric automobiles is going to be disruptive to the political structure of the communist nation.&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/honda-motor-announces-secondary-share-sale-valued-at-usd-316-billion-741974">Honda Motor announces secondary share sale valued at USD 3.16 billion</a>

Figures from the Cuban government reveal that between 2020 and 2022, local firms manufactured above 23,000 electric cars. Continuing petrol shortages stemming from a steep price increase earlier this year means that the average Cuban may have to spend more than the state-set average monthly wage for a conventional 40 liter tank. Transportation has also been adversely affected with reduced number of buses in circulation within Havana and many of the ones available are cramped and in bad shape. Many of the routes outside the capital have been cut or even done away with completely due to lack of fuel and spare parts.

These challenges have boosted the demand for electric cars recorded with the advancement of new investors such as Caribbean Electric Vehicles (Vedca), a joint venture of the Chinese investor Tianjin Dongxing Industrial and Cuban State Bicycle Manufacturer Minerva. But in 1999 Vedca has manufactured over 2,000 scooters, bicycles, mini-trucks, etc by Cuban assembled with Chinese parts. "It is imperative that we shift our perspective now,” states Julio Oscar Perez, the director of Vedca. Electric cars are not a mere innovation for transportation needs but also for other issues that fuel constraints cause.

At Vedca’s manufacturing plant in Cuba’s outskirts, personnel build scooters and bikes, and even toy with electric tractors and other massive equipment. Other competitive local manufacturers are also available in the market and are involved in offering electric bikes to the market segments. At the same time, the Cuban government has recently allowed the importation of better brand new electrical models amongst which from the United States as Tesla brand models are steadily gaining traction among a newly emerging sort of a high earning revolutionised class in Cuba.

Nevertheless, for many, including Cortina, electric cars are still mainly an issue of utility as the basics such as battery charge have been articulated. He bursts into laughter, ‘Years later, all transport means will be electric,’ this vision is part of a shift towards environmentally friendly transport solutions in the emerging Cuban cities. 
&nbsp;

Rather than diluting everything that was once exotic about Havana and its image of vintage cars cruising past beautiful old buildings, the electric scooters add a new dimension to the perception of the city and the outlook of transport challenges that Cubans need to address.

Rather than diluting everything that was once exotic about Havana and its image of vintage cars cruising past beautiful old buildings, the electric scooters add a new dimension to the perception of the city and the outlook of transport challenges that Cubans need to address. Electric motorcycles are fixing a lot of issues in Cuba; they are utilised for nearly all the tasks. A Cuban hotel worker, Omar Cortina, who in recent past bought his first electric vehicle - a scooter with lithium battery, told Reuters that the streets of Cuba during his childhood up until the 1990s looked like those from the 1950s: roads in bad condition, lot of smoke from old cars, not a lot of vehicles on the road. On the contrary, the emergence of electric automobiles is going to be disruptive to the political structure of the communist nation. Also Read: Honda Motor announces secondary share sale valued at USD 3.16 billion Figures from the Cuban government reveal that between 2020 and 2022, local firms manufactured above 23,000 electric cars. Continuing petrol shortages stemming from a steep price increase earlier this year means that the average Cuban may have to spend more than the state-set average monthly wage for a conventional 40 liter tank. Transportation has also been adversely affected with reduced number of buses in circulation within Havana and many of the ones available are cramped and in bad shape. Many of the routes outside the capital have been cut or even done away with completely due to lack of fuel and spare parts. These challenges have boosted the demand for electric cars recorded with the advancement of new investors such as Caribbean Electric Vehicles (Vedca), a joint venture of the Chinese investor Tianjin Dongxing Industrial and Cuban State Bicycle Manufacturer Minerva. But in 1999 Vedca has manufactured over 2,000 scooters, bicycles, mini-trucks, etc by Cuban assembled with Chinese parts. "It is imperative that we shift our perspective now,” states Julio Oscar Perez, the director of Vedca. Electric cars are not a mere innovation for transportation needs but also for other issues that fuel constraints cause. At Vedca’s manufacturing plant in Cuba’s outskirts, personnel build scooters and bikes, and even toy with electric tractors and other massive equipment. Other competitive local manufacturers are also available in the market and are involved in offering electric bikes to the market segments. At the same time, the Cuban government has recently allowed the importation of better brand new electrical models amongst which from the United States as Tesla brand models are steadily gaining traction among a newly emerging sort of a high earning revolutionised class in Cuba. Nevertheless, for many, including Cortina, electric cars are still mainly an issue of utility as the basics such as battery charge have been articulated. He bursts into laughter, ‘Years later, all transport means will be electric,’ this vision is part of a shift towards environmentally friendly transport solutions in the emerging Cuban cities.

Cubans increasingly adopt electric vehicles for transportation

Ford Motor will no longer build the vehicles of the future at a Canadian plant originally planned for new electric cars. The company will build larger vehicles, especially the gasoline ones that have many fans today, the F-Series pickup trucks. This change is following Ford having rescheduled from planned three-row electric SUVs at Oakville Assembly plant from 2025 to 2027 on account of lower than expected growth in the demand of electric vehicles. After the merger, the automaker stood firm on the kind of EVs it will continue to develop and the timeline but remained mum on where they will be assembled.

Located in Oakville, Ford Motor plans to increase the production of 100,000 F-Series Super Duty trucks ranging from future multi-energy technology as the company was located in Dearborn, Michigan, Ford Motor stated its strategic intention to expand the Oakville facility in due regards to the rising demand of Super Duty line up as claimed by the Chairman and chief executive officer of the Ford, Jim Farley, for being vital tools for business people and the entire.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/honda-motor-announces-secondary-share-sale-valued-at-usd-316-billion-741974">Honda Motor announces secondary share sale valued at USD 3.16 billion</a>

While demand for EVs has slowed down globally, major players like Tesla and new entrant, BYD, have started cutting prices to boost the market share and accelerate sales which forced traditional auto majors like Ford and GM to reconsider over-ambitious EV targets. Ford, which was recording a sale of almost USD 4.8 billion in losses from the EV segment in 2023 and up to USD 5.5 billion this year, have said they will only bring out the next generation of EVs when they are making money.

In line with this approach, Ford has been shifting its focus to hybrids as there are still people who feel that they have not yet fully embraced full electrification. The Ford Motor Company plans on increasing the hybrid manufacturing fourfold in the near future as well as the firm’s cash cow, the F-150 heavy-duty truck that is manufactured in Kentucky, Ohio, and more at Oakville facility with USD 3 billion investment.

The advanced heavy production schedule of Super Duty at Oakville will guarantee about 1,800 employees at the onset with more anticipated in engine and component plants. Canadian ‘Automotive workers’ Union’, Unifor also voiced relief over the accelerated retooling plan ahead of Ford Motor Co.

While showing continued losses in EVs, Ford has been focusing on the commercial business as a money-making segment; Ford believes it will be software-based services within this division that will significantly improve its future financial performance. Combined with operating profit margins approaching 17% in the last quarter, Ford and GM are waiting for the release of their second-quarter earnings next week.

Ford Motor will no longer build the vehicles of the future at a Canadian plant originally planned for new electric cars. The company will build larger vehicles, especially the gasoline ones that have many fans today, the F-Series pickup trucks.

Ford Motor will no longer build the vehicles of the future at a Canadian plant originally planned for new electric cars. The company will build larger vehicles, especially the gasoline ones that have many fans today, the F-Series pickup trucks. This change is following Ford having rescheduled from planned three-row electric SUVs at Oakville Assembly plant from 2025 to 2027 on account of lower than expected growth in the demand of electric vehicles. After the merger, the automaker stood firm on the kind of EVs it will continue to develop and the timeline but remained mum on where they will be assembled. Located in Oakville, Ford Motor plans to increase the production of 100,000 F-Series Super Duty trucks ranging from future multi-energy technology as the company was located in Dearborn, Michigan, Ford Motor stated its strategic intention to expand the Oakville facility in due regards to the rising demand of Super Duty line up as claimed by the Chairman and chief executive officer of the Ford, Jim Farley, for being vital tools for business people and the entire. Also Read: Honda Motor announces secondary share sale valued at USD 3.16 billion While demand for EVs has slowed down globally, major players like Tesla and new entrant, BYD, have started cutting prices to boost the market share and accelerate sales which forced traditional auto majors like Ford and GM to reconsider over-ambitious EV targets. Ford, which was recording a sale of almost USD 4.8 billion in losses from the EV segment in 2023 and up to USD 5.5 billion this year, have said they will only bring out the next generation of EVs when they are making money. In line with this approach, Ford has been shifting its focus to hybrids as there are still people who feel that they have not yet fully embraced full electrification. The Ford Motor Company plans on increasing the hybrid manufacturing fourfold in the near future as well as the firm’s cash cow, the F-150 heavy-duty truck that is manufactured in Kentucky, Ohio, and more at Oakville facility with USD 3 billion investment. The advanced heavy production schedule of Super Duty at Oakville will guarantee about 1,800 employees at the onset with more anticipated in engine and component plants. Canadian ‘Automotive workers’ Union’, Unifor also voiced relief over the accelerated retooling plan ahead of Ford Motor Co. While showing continued losses in EVs, Ford has been focusing on the commercial business as a money-making segment; Ford believes it will be software-based services within this division that will significantly improve its future financial performance. Combined with operating profit margins approaching 17% in the last quarter, Ford and GM are waiting for the release of their second-quarter earnings next week.

Ford will no longer build electric vehicles at its Canada facility

Honda Motor has set the price for its secondary share sale at 1,664.5 yen per share, representing a 3% discount from Wednesday's closing price. The total value of the share sale amounts to 497 billion yen, or approximately USD 3.16 billion. This valuation includes an overallotment option that may be exercised based on investor demand.

The share sale constitutes the primary sellers which include insurers and financial institutions such as Tokyo Marine, Sompo, and Mitsubishi UFJ. These entities intend to offer as many as 300 million Honda shares on the market in aggregate. The fact of this sale was disclosed by internet earlier this month by Reuters.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/tesla-switches-legal-teams-amidst-ongoing-antitrust-battle-741776">Tesla switches legal teams amidst ongoing antitrust battle</a>

Cross-shareholding was previously implemented as a part of Japanese business ethic where companies invested in each other with the aim of cementing their business ties. This practice of separate classes of shares has received criticism from governance experts and foreign investors because it can be used to shield management from the other shareholders.

This secondary share sale is another key step for Honda as the firm repositions itself based on changing conditions and regulation in the market place and future globalisation of corporate governance systems. 
&nbsp;

Honda Motor has set the price for its secondary share sale at 1,664.5 yen per share, representing a 3% discount from Wednesday's closing price. The total value of the share sale amounts to 497 billion yen, or approximately USD 3.

Honda Motor has set the price for its secondary share sale at 1,664.5 yen per share, representing a 3% discount from Wednesday's closing price. The total value of the share sale amounts to 497 billion yen, or approximately USD 3.16 billion. This valuation includes an overallotment option that may be exercised based on investor demand. The share sale constitutes the primary sellers which include insurers and financial institutions such as Tokyo Marine, Sompo, and Mitsubishi UFJ. These entities intend to offer as many as 300 million Honda shares on the market in aggregate. The fact of this sale was disclosed by internet earlier this month by Reuters. Also Read: Tesla switches legal teams amidst ongoing antitrust battle Cross-shareholding was previously implemented as a part of Japanese business ethic where companies invested in each other with the aim of cementing their business ties. This practice of separate classes of shares has received criticism from governance experts and foreign investors because it can be used to shield management from the other shareholders. This secondary share sale is another key step for Honda as the firm repositions itself based on changing conditions and regulation in the market place and future globalisation of corporate governance systems.

Honda Motor announces secondary share sale valued at USD 3.16 billion

Royal Enfield has unveiled its latest high-end modern roadster – the Guerrilla 450 and claims that it will change the way roadsters are perceived, experienced and defined, being kinetic, intelligent and playful. As a sport-touring bike desirably designed for an intensive ride, the Guerrilla 450 is muscular, versatile, and highly sophisticated that will excel as a daily commuter, a Sunday cruiser or a long-distance traveler. It is a major step forward in to Royal Enfield’s roadster narrative, providing base appeal in its rawest form.

The same product, in most of Latin American countries, will be called GRR 450 throughout marketing channels. This series has three models: Analogue, Dash, and Flash and five fancy colours. In India, the Guerrilla 450 will have six color options; in the Analogue version, it comes with Smoke Silver and Playa Black color combo; on the other hand, the Dash version comes with Playa Black and Golden Dip. Flash has a yellow ribbon color scheme, and Brava Blue color scheme.

The pre-booking opens in India today at an attractive price of INR 2,39,000, test rides and official sales launch on 1st August. Bookings for Europe commence today as well and the prices at the starting range are 4,850 pounds MSRP of the product in the UK and EURO 5,290 MSRP in Germany.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/exxon-mobil-reveals-plans-for-seventh-oil-project-in-guyana-741434">Exxon Mobil reveals plans for seventh oil project in Guyana</a>

To a large extent, the Guerrilla 450 can safely be described as a bike for all terrains tarmac. Using a 452cc Sherpa engine, it produces a power of 40 PS at 8,000 rpm and 40 NM of maximum torque at 5,500 rpm. This explains why its cooling system is water cooled to suit its performance from any climate. The six speeds with assist and slip clutch help in improve on cruising with this vehicle.

Intuitive Riding Ergonomics

Intensely performance-oriented, the Guerrilla 450 boasts of a high tensile steel double cradle frame with a 43mm telescopic front fork and a linkage-type mono-shock at the rear end. It has 17 inches tubeless tyres and 1440 mm wheel base so that will provide proper stability. The rider geometry tends to riding in an upright position thus making it suitable for daily city use and sporty ride on winding tarmac.

Advanced Technology

Out with the Guerrilla 450 comes Performance and Eco Modes, which are made possible by the EMS or the Engine Management System and ride-by-wire package. The top and mid variants sport the new Tripper Dash, which is a 4-inch infotainment cluster with more additional accesses, including route recording and, GPX file sharing.

Accessories and Apparel

For the Guerrilla 450 model, Royal Enfield provides a selection of Genuine Motorcycle Accessories based on flat-tracker and urban rider’s influence. Apart from T-shirts, caps and headgears, the new Crossroader riding jacket is the part of Guerrilla 450 Linea, which is the first Indian biking apparel with 100 titanium sliders.

Availability and Pricing

The bookings for the new Guerrilla 450 model are now open in India, United Kingdom, Europe with the deliveries to commence from August 2024. The motorcycle is planned to be launched globally in phases effective by the beginning of the next year. Royal Enfield has also recently launched ‘Borderless Warranty Program, a massive warranty program covering 70+ countries.

Royal Enfield has unveiled its latest high-end modern roadster – the Guerrilla 450 and claims that it will change the way roadsters are perceived, experienced and defined, being kinetic, intelligent and playful.

Royal Enfield has unveiled its latest high-end modern roadster – the Guerrilla 450 and claims that it will change the way roadsters are perceived, experienced and defined, being kinetic, intelligent and playful. As a sport-touring bike desirably designed for an intensive ride, the Guerrilla 450 is muscular, versatile, and highly sophisticated that will excel as a daily commuter, a Sunday cruiser or a long-distance traveler. It is a major step forward in to Royal Enfield’s roadster narrative, providing base appeal in its rawest form. The same product, in most of Latin American countries, will be called GRR 450 throughout marketing channels. This series has three models: Analogue, Dash, and Flash and five fancy colours. In India, the Guerrilla 450 will have six color options; in the Analogue version, it comes with Smoke Silver and Playa Black color combo; on the other hand, the Dash version comes with Playa Black and Golden Dip. Flash has a yellow ribbon color scheme, and Brava Blue color scheme. The pre-booking opens in India today at an attractive price of INR 2,39,000, test rides and official sales launch on 1st August. Bookings for Europe commence today as well and the prices at the starting range are 4,850 pounds MSRP of the product in the UK and EURO 5,290 MSRP in Germany. Also Read: Exxon Mobil reveals plans for seventh oil project in Guyana To a large extent, the Guerrilla 450 can safely be described as a bike for all terrains tarmac. Using a 452cc Sherpa engine, it produces a power of 40 PS at 8,000 rpm and 40 NM of maximum torque at 5,500 rpm. This explains why its cooling system is water cooled to suit its performance from any climate. The six speeds with assist and slip clutch help in improve on cruising with this vehicle. Intuitive Riding Ergonomics Intensely performance-oriented, the Guerrilla 450 boasts of a high tensile steel double cradle frame with a 43mm telescopic front fork and a linkage-type mono-shock at the rear end. It has 17 inches tubeless tyres and 1440 mm wheel base so that will provide proper stability. The rider geometry tends to riding in an upright position thus making it suitable for daily city use and sporty ride on winding tarmac. Advanced Technology Out with the Guerrilla 450 comes Performance and Eco Modes, which are made possible by the EMS or the Engine Management System and ride-by-wire package. The top and mid variants sport the new Tripper Dash, which is a 4-inch infotainment cluster with more additional accesses, including route recording and, GPX file sharing. Accessories and Apparel For the Guerrilla 450 model, Royal Enfield provides a selection of Genuine Motorcycle Accessories based on flat-tracker and urban rider’s influence. Apart from T-shirts, caps and headgears, the new Crossroader riding jacket is the part of Guerrilla 450 Linea, which is the first Indian biking apparel with 100 titanium sliders. Availability and Pricing The bookings for the new Guerrilla 450 model are now open in India, United Kingdom, Europe with the deliveries to commence from August 2024. The motorcycle is planned to be launched globally in phases effective by the beginning of the next year. Royal Enfield has also recently launched ‘Borderless Warranty Program, a massive warranty program covering 70+ countries.

Royal Enfield launches Guerrilla 450 modern Roadster at INR 2.39 lakh

Gadgets brand Portronics has launched the Vayu 3.0, a revolutionary portable tyre inflator designed for vehicle owners. In terms of refilling objects, the Vayu 3.0 has the capacity to draw up to 150 PSI. It can be used for vehicles such as cars, motorcycles and bicycles, besides being ideal for use in sporting equipment like footballs, basketballs and volleyballs. Small size and 4000mAh rechargeable battery allow the usage of the invention where there is no petrol station nearby in cases of emergency.

Hence, Vayu 3.0 turns out to be very handy in case of an emergency say a flat tyre in the middle of nowhere. It is accessible for all users including those with little or no understanding of car mechanics. The fact that it is contained within a cordless device and has a very basic set of controls means that the device is relatively easy to use and does not require technical knowledge to master.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/exxon-mobil-reveals-plans-for-seventh-oil-project-in-guyana-741434">Exxon Mobil reveals plans for seventh oil project in Guyana</a>

It comes with LED display that gives accurate reading and features automatic pressure detection, providing accurate tyre pressure readings. Using the desired pressure input from the users, there is an internal air compressor which starts and stops as soon as the set pressure is attained. It has settings for car, bike, bicycles, and ball enabling anyone to pump them up without elaborate procedures.

Portable and Practical

The Vayu 3.0 comes with configurations of different sizes and shapes to increase adaptability; it is equipped with Presta Valve adapter. The inflator is capable of filling a tyre with air in less than 10 minutes, while the battery energy available can charge all the four car tyres. It also features an effective LED light which proves very vital; in case one is lighting up a tyre at night, or walking in the dark to fix the issue. It has a 4000mAh battery that is rechargeable using the standard USB Type-C port for added practicability.

Pricing and Availability

The Portronics Vayu 3.0 is available for purchase at an introductory price of INR 2099 on the company's official website. It comes with a 12-month warranty. The device is also available on Amazon.in, Flipkart.com, and other leading online and offline stores.

Gadgets brand Portronics has launched the Vayu 3.0, a revolutionary portable tyre inflator designed for vehicle owners. In terms of refilling objects, the Vayu 3.

Gadgets brand Portronics has launched the Vayu 3.0, a revolutionary portable tyre inflator designed for vehicle owners. In terms of refilling objects, the Vayu 3.0 has the capacity to draw up to 150 PSI. It can be used for vehicles such as cars, motorcycles and bicycles, besides being ideal for use in sporting equipment like footballs, basketballs and volleyballs. Small size and 4000mAh rechargeable battery allow the usage of the invention where there is no petrol station nearby in cases of emergency. Hence, Vayu 3.0 turns out to be very handy in case of an emergency say a flat tyre in the middle of nowhere. It is accessible for all users including those with little or no understanding of car mechanics. The fact that it is contained within a cordless device and has a very basic set of controls means that the device is relatively easy to use and does not require technical knowledge to master. Also Read: Exxon Mobil reveals plans for seventh oil project in Guyana It comes with LED display that gives accurate reading and features automatic pressure detection, providing accurate tyre pressure readings. Using the desired pressure input from the users, there is an internal air compressor which starts and stops as soon as the set pressure is attained. It has settings for car, bike, bicycles, and ball enabling anyone to pump them up without elaborate procedures. Portable and Practical The Vayu 3.0 comes with configurations of different sizes and shapes to increase adaptability; it is equipped with Presta Valve adapter. The inflator is capable of filling a tyre with air in less than 10 minutes, while the battery energy available can charge all the four car tyres. It also features an effective LED light which proves very vital; in case one is lighting up a tyre at night, or walking in the dark to fix the issue. It has a 4000mAh battery that is rechargeable using the standard USB Type-C port for added practicability. Pricing and Availability The Portronics Vayu 3.0 is available for purchase at an introductory price of INR 2099 on the company's official website. It comes with a 12-month warranty. The device is also available on Amazon.in, Flipkart.com, and other leading online and offline stores.

Portronics unveils portable tyre inflator for two and four-wheelers

BYD India has officially launched three new variants of the BYD Atto 3: Dynamic, Premium, and Superior. This strategic expansion aims to cater to a diverse customer base and enhance options for potential buyers in the growing electric vehicle (EV) market. The introduction of these variants comes as BYD prepares to solidify its presence in India, following the successful rollout of its all-new e6 and BYD Seal models.&nbsp;

Each Atto 3 variant is designed to offer unique features and capabilities, reflecting BYD's commitment to innovation and customer satisfaction. This launch aligns with BYD's ambition to lead in the EV sector, showcasing a robust lineup of electric vehicles tailored for Indian consumers.

Rajeev Chauhan, Head of Electric Passenger Vehicles (EPV) Business at BYD India, expressed excitement about the launch, stating, "The new variants of the BYD ATTO 3 will empower more customers to embrace electric mobility while enjoying the high-quality performance and features that define our brand."

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/hyundai-launches-exter-with-dual-cylinder-cng-at-inr-850-lakh-741281">Hyundai launches Exter with dual cylinder CNG at INR 8.50 Lakh</a>

In addition to the Atto 3 launch, BYD India is also spearheading the BYD EV INNOVATE-A-THON, an initiative aimed at fostering innovation and sustainability among engineering students in India. In collaboration with the Automotive Skill Development Council (ASDC), this program encourages students to develop creative solutions in the electric vehicle domain.

The BYD EV INNOVATE-A-THON consists of three stages: an online quiz, a digital prototype round, and a physical prototype creation and sales pitch. Winning teams will have the opportunity to meet technology and sustainability experts at BYD's headquarters in Shenzhen, China, and receive cash prizes and trophies.

F R Singhvi, President of ASDC, praised the initiative, stating it aligns perfectly with the commitment to innovation and excellence, inspiring students to adopt an innovative mindset for a sustainable future.

With a brand value exceeding USD 10 billion and recognition as one of the top 10 global automotive brands, BYD continues to make significant strides in the electric vehicle landscape, positioning itself as a trusted leader in the industry.

BYD India has officially launched three new variants of the BYD Atto 3: Dynamic, Premium, and Superior. This strategic expansion aims to cater to a diverse customer base and enhance options for potential buyers in the growing electric vehicle (EV) market.

BYD India has officially launched three new variants of the BYD Atto 3: Dynamic, Premium, and Superior. This strategic expansion aims to cater to a diverse customer base and enhance options for potential buyers in the growing electric vehicle (EV) market. The introduction of these variants comes as BYD prepares to solidify its presence in India, following the successful rollout of its all-new e6 and BYD Seal models. Each Atto 3 variant is designed to offer unique features and capabilities, reflecting BYD's commitment to innovation and customer satisfaction. This launch aligns with BYD's ambition to lead in the EV sector, showcasing a robust lineup of electric vehicles tailored for Indian consumers. Rajeev Chauhan, Head of Electric Passenger Vehicles (EPV) Business at BYD India, expressed excitement about the launch, stating, "The new variants of the BYD ATTO 3 will empower more customers to embrace electric mobility while enjoying the high-quality performance and features that define our brand." Also Read: Hyundai launches Exter with dual cylinder CNG at INR 8.50 Lakh In addition to the Atto 3 launch, BYD India is also spearheading the BYD EV INNOVATE-A-THON, an initiative aimed at fostering innovation and sustainability among engineering students in India. In collaboration with the Automotive Skill Development Council (ASDC), this program encourages students to develop creative solutions in the electric vehicle domain. The BYD EV INNOVATE-A-THON consists of three stages: an online quiz, a digital prototype round, and a physical prototype creation and sales pitch. Winning teams will have the opportunity to meet technology and sustainability experts at BYD's headquarters in Shenzhen, China, and receive cash prizes and trophies. F R Singhvi, President of ASDC, praised the initiative, stating it aligns perfectly with the commitment to innovation and excellence, inspiring students to adopt an innovative mindset for a sustainable future. With a brand value exceeding USD 10 billion and recognition as one of the top 10 global automotive brands, BYD continues to make significant strides in the electric vehicle landscape, positioning itself as a trusted leader in the industry.

BYD India launches three all-new variants of Atto 3 SUV

Stellantis has made progress in the field of electrification through the launch of its Free2move Charge website and app which aims to help consumers shift easily to EVs as it introduces its first electric cars this year. These include the Fiat 500e, Jeep Wagoneer S, and Dodge Charger Daytona models among others that will hit the US market this year, with each incorporating cutting-edge technology while still carrying the same DNA.

The COO for Stellantis Carlos Zarlenga said that “electrification is a game changer,” mentioning efficiency gains and better performance to illustrate his point. This will help enhance Jeep off-road prowess while solidifying Dodge Charger as the fastest muscle car globally.

To support new battery-electric vehicle (BEV) owners, the Free2move Charge platform provides comprehensive assistance throughout the buying process. It can be downloaded from Apple or Google’s app stores and teaches users about BEVs and charging options available.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/stellantis-and-totalenergies-introduce-sustainable-lubricant-quartz-ev3r-10w-40-741234">Stellantis and TotalEnergies introduce sustainable lubricant: Quartz EV3R 10W-40</a>

Mathilde Lheureux, head of energy and charge business unit explained that Stellantis gives customers a choice between a Free2move Level 2 charging unit or USD 600 worth of charging credits usable at numerous stations spread across America.

Free2move Charge Options:

Home Package: Included with each BEV purchase, this package features a Level 2 charging unit, allowing users to charge from home. The installation process is streamlined into three easy steps, facilitating a commitment-free estimate and scheduling with Qmerit.

Go Package: For those opting for charging credits, the Go Package provides USD 600 to use at public charging stations. The Free2move Charge app enables users to find charging locations and manage their balance conveniently.

Stellantis customers will gain access to over 75,000 charging stations across the US, including partnerships with ChargePoint, Shell Recharge, and EVgo. Additionally, through its joint venture with IONNA, Stellantis aims to deploy 30,000 in-network chargers, with the first stations set to open in 2024. As Stellantis prepares for an electric future, the Free2move Charge ecosystem positions the company as a leader in seamless charging and energy management for its customers.

Stellantis has made progress in the field of electrification through the launch of its Free2move Charge website and app which aims to help consumers shift easily to EVs as it introduces its first electric cars this year.

Stellantis has made progress in the field of electrification through the launch of its Free2move Charge website and app which aims to help consumers shift easily to EVs as it introduces its first electric cars this year. These include the Fiat 500e, Jeep Wagoneer S, and Dodge Charger Daytona models among others that will hit the US market this year, with each incorporating cutting-edge technology while still carrying the same DNA. The COO for Stellantis Carlos Zarlenga said that “electrification is a game changer,” mentioning efficiency gains and better performance to illustrate his point. This will help enhance Jeep off-road prowess while solidifying Dodge Charger as the fastest muscle car globally. To support new battery-electric vehicle (BEV) owners, the Free2move Charge platform provides comprehensive assistance throughout the buying process. It can be downloaded from Apple or Google’s app stores and teaches users about BEVs and charging options available. Also Read: Stellantis and TotalEnergies introduce sustainable lubricant: Quartz EV3R 10W-40 Mathilde Lheureux, head of energy and charge business unit explained that Stellantis gives customers a choice between a Free2move Level 2 charging unit or USD 600 worth of charging credits usable at numerous stations spread across America. Free2move Charge Options: Home Package: Included with each BEV purchase, this package features a Level 2 charging unit, allowing users to charge from home. The installation process is streamlined into three easy steps, facilitating a commitment-free estimate and scheduling with Qmerit. Go Package: For those opting for charging credits, the Go Package provides USD 600 to use at public charging stations. The Free2move Charge app enables users to find charging locations and manage their balance conveniently. Stellantis customers will gain access to over 75,000 charging stations across the US, including partnerships with ChargePoint, Shell Recharge, and EVgo. Additionally, through its joint venture with IONNA, Stellantis aims to deploy 30,000 in-network chargers, with the first stations set to open in 2024. As Stellantis prepares for an electric future, the Free2move Charge ecosystem positions the company as a leader in seamless charging and energy management for its customers.

Stellantis launches Free2move Charge to support electric vehicle transition

According to a new study conducted by JD Power, the expensive price of electric vehicles (EVs) is far outweighed by the cost of running them and so they happen to be more economical in 48 states over a 5-year ownership cycle in the US. The study reveals that in many instances, motorists would save over USD 10,000 if they chose an EV rather than the normal combustion engine vehicle. The JD Power report also compared lifetime costs between EVs and traditional petrol cars.

The JD Power study closely compared lifetime expenses of EVs to those of an internal combustion engine (ICE) car. Only in West Virginia and Maine did the ICE car cost less, and only by USD 1,800 over a five-year period in the case of West Virginia, and USD 1,619 for Maine. For the rest of the 50 states, and the District of Columbia, EV ownership will result in savings.&nbsp;

New Jersey has the greatest potential, with a projected savings of USD 10,345, largely due to a sales tax exemption for electric vehicles. Additionally, Nevada has a potential savings of USD 9,216, Illinois has a potential savings of USD 8,751, and Colorado's total savings are USD 8,493 when combining the maximum USD 5,000 incentive with other programs.&nbsp;

Also Read:<a href="https://www.wionews.com/autonews/hyundai-to-launch-first-three-row-electric-suv-in-us-741230">&nbsp;Hyundai to launch first three row electric SUV in US</a>

Additionally, more than USD 6,000 can be saved by choosing an electric car in New York, Massachusetts, Utah, Arizona, and New Mexico. In most remaining states, total savings range from almost USD 5,000 to USD 1,200, which provides a substantial cushion to a monthly car payment. The only exception is Vermont, where the savings total only USD 29 over five years.&nbsp;

JD Power's analysis demonstrates that EV owners can expect to save an average of USD 3,161, providing consumers with an opportunity to reconsider how they think about vehicle costs. Traditionally, we tend to focus on the upfront price of the vehicles, ignoring the long-term cost-saving benefits of EV ownership.

The savings only apply when purchasing an EV to own for five years. Interestingly, leasing an EV could cost consumers on average an additional USD 1,813 by the end of the lease term, significantly affecting the financial outcomes of different vehicle ownership decisions.&nbsp;

According to a new study conducted by JD Power, the expensive price of electric vehicles (EVs) is far outweighed by the cost of running them and so they happen to be more economical in 48 states over a 5-year ownership cycle in the US.

According to a new study conducted by JD Power, the expensive price of electric vehicles (EVs) is far outweighed by the cost of running them and so they happen to be more economical in 48 states over a 5-year ownership cycle in the US. The study reveals that in many instances, motorists would save over USD 10,000 if they chose an EV rather than the normal combustion engine vehicle. The JD Power report also compared lifetime costs between EVs and traditional petrol cars. The JD Power study closely compared lifetime expenses of EVs to those of an internal combustion engine (ICE) car. Only in West Virginia and Maine did the ICE car cost less, and only by USD 1,800 over a five-year period in the case of West Virginia, and USD 1,619 for Maine. For the rest of the 50 states, and the District of Columbia, EV ownership will result in savings. New Jersey has the greatest potential, with a projected savings of USD 10,345, largely due to a sales tax exemption for electric vehicles. Additionally, Nevada has a potential savings of USD 9,216, Illinois has a potential savings of USD 8,751, and Colorado's total savings are USD 8,493 when combining the maximum USD 5,000 incentive with other programs. Also Read: Hyundai to launch first three row electric SUV in US Additionally, more than USD 6,000 can be saved by choosing an electric car in New York, Massachusetts, Utah, Arizona, and New Mexico. In most remaining states, total savings range from almost USD 5,000 to USD 1,200, which provides a substantial cushion to a monthly car payment. The only exception is Vermont, where the savings total only USD 29 over five years. JD Power's analysis demonstrates that EV owners can expect to save an average of USD 3,161, providing consumers with an opportunity to reconsider how they think about vehicle costs. Traditionally, we tend to focus on the upfront price of the vehicles, ignoring the long-term cost-saving benefits of EV ownership. The savings only apply when purchasing an EV to own for five years. Interestingly, leasing an EV could cost consumers on average an additional USD 1,813 by the end of the lease term, significantly affecting the financial outcomes of different vehicle ownership decisions.

EVs offer significant long-term savings across most US states: Study

UAW President Shawn Fain met with the union’s executive board late Thursday to discuss growing anxieties about Biden’s ability to defeat Trump in November, the sources said. The discussion presented at the meeting with the leaders of the union, which has nearly 400,000 members, was devoted to the analysis of Biden’s campaign activities and identification of possible actions, the sources who asked not to reveal their identity added.

Fain and the UAW, which endorsed Biden in January and has a major say in the key battleground states such as Michigan where the union is based. Biden and Trump both have amped up their activity in these areas, reaching out to the automakers workers namely Ford Motor, General Motors, and Stellantis.

UAW Communications Director Jonah Furman did not want to comment on the matter, neither did the Biden campaign. Fain previously supported Biden this year, thereby showing the union’s enemity with Trump; Fain said, “Donald Trump is against everything that we, as a society, uphold.”

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/audi-contemplates-early-discontinuation-of-q8-ev-740055">Audi contemplates early discontinuation of Q8 EV</a>

Recently, Biden tried to strengthen labour unions by getting a meeting with the AFL-CIO’s executive council, present was Fain. In the meeting, Biden highlighted the role of union in his campaigns for the next president’s elections and calmed the leaders while explaining to them his next course of action.

The improvement of Biden’s connection with labor unions seemed in the large autoworkers strike that occurred in the previous year where he openly endorsed the workers, leading to record increases in wages. This action gained him appreciation from Fain and Biden in his state of the union earlier this year.

During Biden’s attempt to gather votes, doubts about his capabilities and chances of winning have risen, due to a rather unstable performance in the debate and questionable cognition abilities. Some democrats and supporters have demanded that he step aside increasing division within the party.

The deliberations within the UAW mimic similar concerns expressed amongst members of the Democratic party in the lead-up to the election about Biden’s capacity to beat Trump in November. 
&nbsp;

UAW President Shawn Fain met with the union’s executive board late Thursday to discuss growing anxieties about Biden’s ability to defeat Trump in November, the sources said.

UAW President Shawn Fain met with the union’s executive board late Thursday to discuss growing anxieties about Biden’s ability to defeat Trump in November, the sources said. The discussion presented at the meeting with the leaders of the union, which has nearly 400,000 members, was devoted to the analysis of Biden’s campaign activities and identification of possible actions, the sources who asked not to reveal their identity added. Fain and the UAW, which endorsed Biden in January and has a major say in the key battleground states such as Michigan where the union is based. Biden and Trump both have amped up their activity in these areas, reaching out to the automakers workers namely Ford Motor, General Motors, and Stellantis. UAW Communications Director Jonah Furman did not want to comment on the matter, neither did the Biden campaign. Fain previously supported Biden this year, thereby showing the union’s enemity with Trump; Fain said, “Donald Trump is against everything that we, as a society, uphold.” Also Read: Audi contemplates early discontinuation of Q8 EV Recently, Biden tried to strengthen labour unions by getting a meeting with the AFL-CIO’s executive council, present was Fain. In the meeting, Biden highlighted the role of union in his campaigns for the next president’s elections and calmed the leaders while explaining to them his next course of action. The improvement of Biden’s connection with labor unions seemed in the large autoworkers strike that occurred in the previous year where he openly endorsed the workers, leading to record increases in wages. This action gained him appreciation from Fain and Biden in his state of the union earlier this year. During Biden’s attempt to gather votes, doubts about his capabilities and chances of winning have risen, due to a rather unstable performance in the debate and questionable cognition abilities. Some democrats and supporters have demanded that he step aside increasing division within the party. The deliberations within the UAW mimic similar concerns expressed amongst members of the Democratic party in the lead-up to the election about Biden’s capacity to beat Trump in November.

UAW considering next steps on worries Trump could beat Biden

Opel light commercial vehicles of the new generation will change the way people with intensive duties in various industries approach their work. Whether it be the manufacturing of buildings or delivering packages, these multifaceted helpers of the contemporary world like the Opel Combo Electric, Opel Vivaro Electric, and Opel Movano Electric vehicles have as paramount importance a broad array of ADAS aimed at raising levels of safety and decreasing drivers' burdens.

The Opel brand also fits Dynamic Surround Vision for the new Combo and Vivaro models, necessary for LCVs’ essential tasks, including loose space handling. This new idea blends external camera that are placed on boxes exterior to the car together with a high definition of a rear view mirror. It enhances the drivers’ visibility of the outside world; it has features such as the blind spots activated by the indicator stalk. It reduces the probability of neglecting the presence of pedestrians, cycles or other cars thus greatly improving the maneuverability and security of the car.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/bmw-outpaces-german-rivals-in-electric-vehicle-sales-surge-739831">BMW outpaces German rivals in electric vehicle sales surge</a>

Apart from improved visibility, Opel’s Advanced Driving Assistance Systems package range for both Combo and Vivaro includes up to 18 electronic applications and aides including Intelligent Speed Assist, Lane Keep Assist, Advanced Emergency Braking, and Driver Attention Alert. Optional Adaptive Cruise Control (ACC) makes long distance drive very comfortable, practically too, take of hassle free driving.

At the same time, the Opel Movano itself is equipped with up to 21 ADAS in its segment. Notably it has Level 2 automation that include ACC with Lane Centring and Traffic Jam Assist. The combined feature enables the Movano to take full control of the braking, acceleration, and steering up to 30km/h Constantly watching the road and hands on the steering wheel.

Furthermore, the Movano’s Drowsiness Alert system also makes the driver to be more alert especially when he or she is driving for a long time or even needs to take a break. Other safety technologies include Traffic Sign Recognition, Forward Collision Alert with Emergency Braking, and Parking Assist completing the list of ADAS technologies.

Opel's commitment to enhancing LCV functionality and safety underscores its understanding of the demanding nature of commercial vehicle operations. With the introduction of the new Combo, Vivaro, and Movano models, Opel aims not only to streamline daily tasks but also to set new standards in safety and driver assistance within the LCV segment.

Opel light commercial vehicles of the new generation will change the way people with intensive duties in various industries approach their work. Whether it be the manufacturing of buildings or delivering packages, these multifaceted helpers of the contemporary world like the Opel Combo Electric, Opel Vivaro Electric, and Opel Movano Electric vehicles have as paramount importance a broad array of ADAS aimed at raising levels of safety and decreasing drivers' burdens.

Opel light commercial vehicles of the new generation will change the way people with intensive duties in various industries approach their work. Whether it be the manufacturing of buildings or delivering packages, these multifaceted helpers of the contemporary world like the Opel Combo Electric, Opel Vivaro Electric, and Opel Movano Electric vehicles have as paramount importance a broad array of ADAS aimed at raising levels of safety and decreasing drivers' burdens. The Opel brand also fits Dynamic Surround Vision for the new Combo and Vivaro models, necessary for LCVs’ essential tasks, including loose space handling. This new idea blends external camera that are placed on boxes exterior to the car together with a high definition of a rear view mirror. It enhances the drivers’ visibility of the outside world; it has features such as the blind spots activated by the indicator stalk. It reduces the probability of neglecting the presence of pedestrians, cycles or other cars thus greatly improving the maneuverability and security of the car. Also Read: BMW outpaces German rivals in electric vehicle sales surge Apart from improved visibility, Opel’s Advanced Driving Assistance Systems package range for both Combo and Vivaro includes up to 18 electronic applications and aides including Intelligent Speed Assist, Lane Keep Assist, Advanced Emergency Braking, and Driver Attention Alert. Optional Adaptive Cruise Control (ACC) makes long distance drive very comfortable, practically too, take of hassle free driving. At the same time, the Opel Movano itself is equipped with up to 21 ADAS in its segment. Notably it has Level 2 automation that include ACC with Lane Centring and Traffic Jam Assist. The combined feature enables the Movano to take full control of the braking, acceleration, and steering up to 30km/h Constantly watching the road and hands on the steering wheel. Furthermore, the Movano’s Drowsiness Alert system also makes the driver to be more alert especially when he or she is driving for a long time or even needs to take a break. Other safety technologies include Traffic Sign Recognition, Forward Collision Alert with Emergency Braking, and Parking Assist completing the list of ADAS technologies. Opel's commitment to enhancing LCV functionality and safety underscores its understanding of the demanding nature of commercial vehicle operations. With the introduction of the new Combo, Vivaro, and Movano models, Opel aims not only to streamline daily tasks but also to set new standards in safety and driver assistance within the LCV segment.

Latest Opel LCVs get extensive Advanced Driver Assistance Systems

Nissan has been associated with products like Rogue that is well known around the world and legendary Z cars and GT-Rs. However, as soon as the focus remains on certain segments, such as SUVs, it is impossible not to remember Nissan’s, and, accordingly, Datsun’s roots which are connected with sedans. Whether it is the economical Sentra, the luxurious Maxima or the middle of the road Altima and all are four door sedans; they have formed a breed that is suddenly looking at threatened existence.

The automotive industry is continuously evolving especially with the coming of what is being considered as the future means of transportation - electric vehicles (EV). Thus, despite the fact that the usage of electric vehicles is not nearing its climax, many investments are directed by the US. A couple of billion dollars are being invested in Detroit’s big three auto makers for production of electric cars, and the feeling clearly is that America will not be left behind in auto technology. On the other hand, Audi's consideration of closing down a long-time factory show that the traditional automakers face hard time in transitioning to the electric phase.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/bmw-outpaces-german-rivals-in-electric-vehicle-sales-surge-739831">BMW outpaces German rivals in electric vehicle sales surge</a>

New car prices on the other hand have been on and upward trend and this has led to potential car buyers taking their time to decide on that next purchase they are going to make. Thus, Nissan remains the only non-premium carmaker that remains keen on sedans to the extent that Altima is its best-selling model. Stationed between the economical Versa and the robust Maxima, these models alone make for more than one-third of Nissan’s sales, which is not minor in a segment where sedans are steadily disappearing.

In comparison, Ford and General Motors have withdrawn from sedans, leaving trucks and SUVs as their major offerings. Stellantis, while debuting occasionally Charger models, is less of a contender until a new sedan is introduced. Toyota and Honda still provide sedans, however, they do not concentrate on them like Nissan does.

Moving to the future, one can expect the future of Nissan’s sedan line-up to be the next big question. Subsequently, there is still much market gossip that suggests the Altima may need to go green in a hybrid or plug-in hybrid form to suit consumers in the future as well as meet specific legislative requirements dictated by the market.

Thus, the continued requirements for sedans in the market and the adapting automakers testify to Nissan’s traditional strength even while it faces increasing changes before it.

Nissan has been associated with products like Rogue that is well known around the world and legendary Z cars and GT-Rs. However, as soon as the focus remains on certain segments, such as SUVs, it is impossible not to remember Nissan’s, and, accordingly, Datsun’s roots which are connected with sedans.

Nissan has been associated with products like Rogue that is well known around the world and legendary Z cars and GT-Rs. However, as soon as the focus remains on certain segments, such as SUVs, it is impossible not to remember Nissan’s, and, accordingly, Datsun’s roots which are connected with sedans. Whether it is the economical Sentra, the luxurious Maxima or the middle of the road Altima and all are four door sedans; they have formed a breed that is suddenly looking at threatened existence. The automotive industry is continuously evolving especially with the coming of what is being considered as the future means of transportation - electric vehicles (EV). Thus, despite the fact that the usage of electric vehicles is not nearing its climax, many investments are directed by the US. A couple of billion dollars are being invested in Detroit’s big three auto makers for production of electric cars, and the feeling clearly is that America will not be left behind in auto technology. On the other hand, Audi's consideration of closing down a long-time factory show that the traditional automakers face hard time in transitioning to the electric phase. Also Read: BMW outpaces German rivals in electric vehicle sales surge New car prices on the other hand have been on and upward trend and this has led to potential car buyers taking their time to decide on that next purchase they are going to make. Thus, Nissan remains the only non-premium carmaker that remains keen on sedans to the extent that Altima is its best-selling model. Stationed between the economical Versa and the robust Maxima, these models alone make for more than one-third of Nissan’s sales, which is not minor in a segment where sedans are steadily disappearing. In comparison, Ford and General Motors have withdrawn from sedans, leaving trucks and SUVs as their major offerings. Stellantis, while debuting occasionally Charger models, is less of a contender until a new sedan is introduced. Toyota and Honda still provide sedans, however, they do not concentrate on them like Nissan does. Moving to the future, one can expect the future of Nissan’s sedan line-up to be the next big question. Subsequently, there is still much market gossip that suggests the Altima may need to go green in a hybrid or plug-in hybrid form to suit consumers in the future as well as meet specific legislative requirements dictated by the market. Thus, the continued requirements for sedans in the market and the adapting automakers testify to Nissan’s traditional strength even while it faces increasing changes before it.

Nissan could kill Altima And Maxima sedans: Report

BMW has reported the strongest sales among Germany's top three premium carmakers for the first half of the year, significantly boosting its battery-electric vehicle deliveries while Mercedes-Benz and Porsche faced declining demand. BMW's total sales rose by 2.3% to nearly 1.1 million vehicles in the first half of the year, with a notable 34% increase in battery-electric sales, reaching almost 180,000 cars. This strong performance sets BMW apart from its competitors in the electric vehicle market.

Conversely, Mercedes-Benz, a manufacturer who also sold battery-electric cars recorded a 17% decrease in sales making sales of approximately 93,400 battery-electric cars. Its total number of vehicles sales was declined by 6% and reached at 960,000 vehicles. The company said that EVs’ scale-up was impacted by difficulties in the key markets and underlined its commitment to profitable growth amid headwinds in the form of heavy discounting. Mercedes said the build up of electric vehicles was slow in certain key markets and that the company has always pursued moderate sales growth in an environment that has been increasingly rife with discounts.

The automotive industry, especially Chinese brands , have cut prices of electric cars in an effort to move a greater number in the face of stiff competition and lowered demand. However, to this, Porsche and Mercedes-Benz car manufacturers; the Volkswagen group’s premium brand Audi have declared that new model releases planned for the future should assisting in making up for the lost grounds and improve on the sales.

The total sales for the first six months of this year slumped to 8% lower, selling 833,000 cars and just a 1%. A 14% growth in the sales of Battery-Electrics which amount to a 3% ration. Porsche, whose vehicle sales are comparatively lesser in magnitude but are high-margin products, sold 155,900 vehicles, which was 7% less than the previous year although there was a 33% decrease in China.

In general, analysts stay rather bullish about future results at Porsche. After the pre-close call made to the Porsche AG management on Tuesday, these sources postulated that revenue should be up in the second quarter due to higher availability of high end models and posted a margin right on target at between 15% and 17%. Hispano continues to hold a buy recommendation on the stock, Deutsche Bank analyst Tim Rokossa said in a note to investors.

With the market environment remaining unfavourable to the automotive industry, they are all lucky to be associated with BMW which registers a good performance especially in the sales of electric vehicles.

BMW has reported the strongest sales among Germany's top three premium carmakers for the first half of the year, significantly boosting its battery-electric vehicle deliveries while Mercedes-Benz and Porsche faced declining demand.

BMW has reported the strongest sales among Germany's top three premium carmakers for the first half of the year, significantly boosting its battery-electric vehicle deliveries while Mercedes-Benz and Porsche faced declining demand. BMW's total sales rose by 2.3% to nearly 1.1 million vehicles in the first half of the year, with a notable 34% increase in battery-electric sales, reaching almost 180,000 cars. This strong performance sets BMW apart from its competitors in the electric vehicle market. Conversely, Mercedes-Benz, a manufacturer who also sold battery-electric cars recorded a 17% decrease in sales making sales of approximately 93,400 battery-electric cars. Its total number of vehicles sales was declined by 6% and reached at 960,000 vehicles. The company said that EVs’ scale-up was impacted by difficulties in the key markets and underlined its commitment to profitable growth amid headwinds in the form of heavy discounting. Mercedes said the build up of electric vehicles was slow in certain key markets and that the company has always pursued moderate sales growth in an environment that has been increasingly rife with discounts. The automotive industry, especially Chinese brands , have cut prices of electric cars in an effort to move a greater number in the face of stiff competition and lowered demand. However, to this, Porsche and Mercedes-Benz car manufacturers; the Volkswagen group’s premium brand Audi have declared that new model releases planned for the future should assisting in making up for the lost grounds and improve on the sales. The total sales for the first six months of this year slumped to 8% lower, selling 833,000 cars and just a 1%. A 14% growth in the sales of Battery-Electrics which amount to a 3% ration. Porsche, whose vehicle sales are comparatively lesser in magnitude but are high-margin products, sold 155,900 vehicles, which was 7% less than the previous year although there was a 33% decrease in China. In general, analysts stay rather bullish about future results at Porsche. After the pre-close call made to the Porsche AG management on Tuesday, these sources postulated that revenue should be up in the second quarter due to higher availability of high end models and posted a margin right on target at between 15% and 17%. Hispano continues to hold a buy recommendation on the stock, Deutsche Bank analyst Tim Rokossa said in a note to investors. With the market environment remaining unfavourable to the automotive industry, they are all lucky to be associated with BMW which registers a good performance especially in the sales of electric vehicles.

BMW outpaces German rivals in electric vehicle sales surge

Electric vehicles can be seen very often on the NHTSA recall list because they are still at a nascent stage and have a lot of software in them. The latest car to be included in this list is the Lucid Air, an electric sedan that has been cited for severe safety concerns in some models produced between the years 2022 and 2024.

The NHTSA’s recent report also reveals that Lucid has found at least ten cases of sudden loss of drive in its Lucid Air due to a problem in high voltage systems. In a report submitted to the NHTSA on July 1, Lucid detailed the issue: Unfortunately, Lucid has determined that due to the possibility of intermittent hardware connections to the various modules of the HVIL logic, there is an unreasonable risk of loss of drive power while the vehicle is in Drive or Reverse in 5,251 model year 2022 and 2023 vehicles built before December 2022.

Other than the problem of power loss the recall also includes a major safety defect that is related to the windshield defrosting system of the vehicle. During the investigation, Lucid identified at least 74 Air sedans produced before February 2023 that had a malfunctioning windshield defrosting system which may impair the driver’s visibility and thus enhance the risk of accidents. This problem was attributed to a faulty “High Voltage Coolant Heater” (HVCH).

The report elaborates: “Prior to the software remedy, there was no visual warning indicator for an HVCH failure. A vehicle with a failed HVCH will not produce warm air for the windshield defroster. Drivers would also experience a loss of cabin heat when an HVCH fails. Vehicles with the software remedy will receive a warning that defrost is unavailable upon an HVCH failure, even if the driver has not tried to enable cabin heat or defrost."

While these issues may affect thousands of Lucid Air sedans, the defect rate is estimated to be 1% or less. To address these potential hazards, Lucid announced that all affected vehicle owners will need to update their vehicle software. Owners will be notified via email with instructions on how to perform the update or can seek assistance from dealerships at no cost.

Electric vehicles can be seen very often on the NHTSA recall list because they are still at a nascent stage and have a lot of software in them. The latest car to be included in this list is the Lucid Air, an electric sedan that has been cited for severe safety concerns in some models produced between the years 2022 and 2024.

Electric vehicles can be seen very often on the NHTSA recall list because they are still at a nascent stage and have a lot of software in them. The latest car to be included in this list is the Lucid Air, an electric sedan that has been cited for severe safety concerns in some models produced between the years 2022 and 2024. The NHTSA’s recent report also reveals that Lucid has found at least ten cases of sudden loss of drive in its Lucid Air due to a problem in high voltage systems. In a report submitted to the NHTSA on July 1, Lucid detailed the issue: Unfortunately, Lucid has determined that due to the possibility of intermittent hardware connections to the various modules of the HVIL logic, there is an unreasonable risk of loss of drive power while the vehicle is in Drive or Reverse in 5,251 model year 2022 and 2023 vehicles built before December 2022. Other than the problem of power loss the recall also includes a major safety defect that is related to the windshield defrosting system of the vehicle. During the investigation, Lucid identified at least 74 Air sedans produced before February 2023 that had a malfunctioning windshield defrosting system which may impair the driver’s visibility and thus enhance the risk of accidents. This problem was attributed to a faulty “High Voltage Coolant Heater” (HVCH). The report elaborates: “Prior to the software remedy, there was no visual warning indicator for an HVCH failure. A vehicle with a failed HVCH will not produce warm air for the windshield defroster. Drivers would also experience a loss of cabin heat when an HVCH fails. Vehicles with the software remedy will receive a warning that defrost is unavailable upon an HVCH failure, even if the driver has not tried to enable cabin heat or defrost." While these issues may affect thousands of Lucid Air sedans, the defect rate is estimated to be 1% or less. To address these potential hazards, Lucid announced that all affected vehicle owners will need to update their vehicle software. Owners will be notified via email with instructions on how to perform the update or can seek assistance from dealerships at no cost.

Lucid Air faces safety recalls for power loss and defrost failures

Leading Chinese companies in the EV battery market such as Contemporary Amperex Technology Co. Limited (CATL) and BYD are shifting towards the emerging stationary energy storage industry. CATL, leading the market since 2021, has over 40% of the market share for energy storage batteries, as stated in its annual report. Its key clients are the leading state owned power plants such as Huaneng and the leading energy storage system makers like Sungrow Power Supply.

For 2023, CATL recorded a significant 46 percent increase. Record deliveries of 69 GWh, an 8% increase in energy storage, outpaced its EV battery growth rate of 32.6%. Energy storage batteries were 17 percent of the company’s total battery capacity. Beginning in the third quarter, CATL realised 6% of its total battery sales volume, which was up from 12.5% in 2021. Moreover, CATL is expected to ship battery cells and packs to Tesla’s export-oriented Megapack energy storage plant in Shanghai that is planned to start production in the first quarter of 2025. This facility needs to manufacture 10,000 Megapacks per year, with the total energy storage capacity of 40GWh.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/eu-imposes-steep-tariffs-on-chinese-evs-escalating-trade-tensions-738152">EU imposes steep tariffs on Chinese EVs, escalating trade tensions</a>

Another competitor of CATL in the energy storage business is BYD that supplied 22 GWh energy storage batteries in 2023 that increased by 57% year-on-year. This growth was even higher than the 15% growth reported by BYD as one of the leading electric car manufacturers in the EV battery deliveries with a total of 135 GWh in 2023, according to SNE Research.

Smaller players of the industry like EVE, REPT, and HITHIUM also recorded a considerable market share in the sales of energy storage batteries in the year 2023, capturing 11%, 8%, and 7% share respectively. The following are some of the firms that are playing a crucial role in determining the expansion and diversification of the energy storage sector which is a trend that is being witnessed in the energy industry and this is with the aim of achieving an increased uptake of renewable energy solutions and grid stability.

Expansion of CATL and BYD in the energy storage industry signifies China’s proactive approach towards gaining market control for batteries in both electric vehicles and stationary storage sectors across the world.

Leading Chinese companies in the EV battery market such as Contemporary Amperex Technology Co. Limited (CATL) and BYD are shifting towards the emerging stationary energy storage industry.

Leading Chinese companies in the EV battery market such as Contemporary Amperex Technology Co. Limited (CATL) and BYD are shifting towards the emerging stationary energy storage industry. CATL, leading the market since 2021, has over 40% of the market share for energy storage batteries, as stated in its annual report. Its key clients are the leading state owned power plants such as Huaneng and the leading energy storage system makers like Sungrow Power Supply. For 2023, CATL recorded a significant 46 percent increase. Record deliveries of 69 GWh, an 8% increase in energy storage, outpaced its EV battery growth rate of 32.6%. Energy storage batteries were 17 percent of the company’s total battery capacity. Beginning in the third quarter, CATL realised 6% of its total battery sales volume, which was up from 12.5% in 2021. Moreover, CATL is expected to ship battery cells and packs to Tesla’s export-oriented Megapack energy storage plant in Shanghai that is planned to start production in the first quarter of 2025. This facility needs to manufacture 10,000 Megapacks per year, with the total energy storage capacity of 40GWh. Also Read: EU imposes steep tariffs on Chinese EVs, escalating trade tensions Another competitor of CATL in the energy storage business is BYD that supplied 22 GWh energy storage batteries in 2023 that increased by 57% year-on-year. This growth was even higher than the 15% growth reported by BYD as one of the leading electric car manufacturers in the EV battery deliveries with a total of 135 GWh in 2023, according to SNE Research. Smaller players of the industry like EVE, REPT, and HITHIUM also recorded a considerable market share in the sales of energy storage batteries in the year 2023, capturing 11%, 8%, and 7% share respectively. The following are some of the firms that are playing a crucial role in determining the expansion and diversification of the energy storage sector which is a trend that is being witnessed in the energy industry and this is with the aim of achieving an increased uptake of renewable energy solutions and grid stability. Expansion of CATL and BYD in the energy storage industry signifies China’s proactive approach towards gaining market control for batteries in both electric vehicles and stationary storage sectors across the world.

China's EV battery makers turn to stationary energy storage industry

German regulatory bodies have only partly acceded to Elon Musk-owned Tesla for its expansion of the Gigafactory a few kilometers from Berlin while citizens protested against the plan due to perceived environmental risks. The company began building the facility in 2015 and has established it in Grünheide in the region of Brandenburg, some nine kilometers southeast of Berlin.&nbsp;

The proposed expansion signifies the company’s plans to increase the production from around 500,000 cars per year to hit around one million cars in the near future, making the company a vital player in the automotive sector in the region.

At first, Tesla proposed to clear at least 100 hectares of a wood land in the country, which caused massive protest among the public. Due to these drastic changes, Tesla came up with an adjusted project plan that excluded a freight depot as the community opposed it. The Brandenburg state environment ministry has made it clear and noted that Tesla has only been cleared to begin construction ‘at its own risk,’ although it has not been granted official building permission yet, but there has been a positive dialogue between the company authorities and the government.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/gm-to-pay-usd-1458-million-penalty-after-us-finds-excess-emissions-737800">GM to pay USD 145.8 million penalty after US finds excess emissions</a>

Accepted master plan details encompass extensive projects such as new infrastructures of embedded tunnels, extra stairs, and integration of solar panels on the existing roofs. Further, the strategies also involve the construction of a new, smaller asphalted logistics area for vehicle storage and distribution, as well as an amplified production hall for better manufacturing performance and output.

After starting in Brandenburg in March 2022, Tesla’s operations provide a substantial part of employment in the region and currently supports roughly 12,000 jobs in the Grünheide location. However, there was a set back in April with the issue of laying off 400 employees which indicates that the company continues to experience some difficulties even as it makes operational changes.

In another incident that generated much public interest, the Gigafactory faced a severe power failure that occurred early this year, which was as a result of sabotage dating unnamed individuals. This forced an outrage from senior German officials concerned about Tesla's future investment in the region.

In the recent past, the factory has been associated with climate activists who tried to break the barriers, hence the embarrassment involving the police officers. All these cases demonstrate the symbiosis and tension between economic growth, environmental protection, and stakeholders’ interactions concerning Tesla’s activities in Grünheide. 
&nbsp;

German regulatory bodies have only partly acceded to Elon Musk-owned Tesla for its expansion of the Gigafactory a few kilometers from Berlin while citizens protested against the plan due to perceived environmental risks.

German regulatory bodies have only partly acceded to Elon Musk-owned Tesla for its expansion of the Gigafactory a few kilometers from Berlin while citizens protested against the plan due to perceived environmental risks. The company began building the facility in 2015 and has established it in Grünheide in the region of Brandenburg, some nine kilometers southeast of Berlin. The proposed expansion signifies the company’s plans to increase the production from around 500,000 cars per year to hit around one million cars in the near future, making the company a vital player in the automotive sector in the region. At first, Tesla proposed to clear at least 100 hectares of a wood land in the country, which caused massive protest among the public. Due to these drastic changes, Tesla came up with an adjusted project plan that excluded a freight depot as the community opposed it. The Brandenburg state environment ministry has made it clear and noted that Tesla has only been cleared to begin construction ‘at its own risk,’ although it has not been granted official building permission yet, but there has been a positive dialogue between the company authorities and the government. Also Read: GM to pay USD 145.8 million penalty after US finds excess emissions Accepted master plan details encompass extensive projects such as new infrastructures of embedded tunnels, extra stairs, and integration of solar panels on the existing roofs. Further, the strategies also involve the construction of a new, smaller asphalted logistics area for vehicle storage and distribution, as well as an amplified production hall for better manufacturing performance and output. After starting in Brandenburg in March 2022, Tesla’s operations provide a substantial part of employment in the region and currently supports roughly 12,000 jobs in the Grünheide location. However, there was a set back in April with the issue of laying off 400 employees which indicates that the company continues to experience some difficulties even as it makes operational changes. In another incident that generated much public interest, the Gigafactory faced a severe power failure that occurred early this year, which was as a result of sabotage dating unnamed individuals. This forced an outrage from senior German officials concerned about Tesla's future investment in the region. In the recent past, the factory has been associated with climate activists who tried to break the barriers, hence the embarrassment involving the police officers. All these cases demonstrate the symbiosis and tension between economic growth, environmental protection, and stakeholders’ interactions concerning Tesla’s activities in Grünheide.

Germany gives go-ahead to Tesla for Gigafactory expansion

Germany’s cabinet has vetoed the sale of gas turbine business of MAN Energy Solutions, a Volkswagen subsidiary, to a Chinese company over security in the backdrop of worsened trade relations between EU and China. The move shows the Germany economy ministry’s power to freeze and monitor deals, which may be dangerous to the nation’s security like other attempts by Berlin and EU to decrease the risks of China to economies dependency.

Blacklisting by German Officials of the proposed sale to the Chinese state-owned CSIC Longjiang GH Gas Turbine Co (GHGT) for an undisclosed amount of money was declared in June 2023, and this hurry prompted Germany’s anti-terrorism agency to blacklist the company. A large part of the Chinese shipbuilding industry is owned by GHGT, affiliated with China State Shipbuilding Corporation (CSSC) and the Merkel administration frets that turbines might be used in the military.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/eu-lawmakers-seek-to-guarantee-ice-tech-into-next-decade-737815">EU lawmakers seek to guarantee ICE Tech into next decade</a>

Interior Minister Nancy Faeser appreciated the decision at a news conference focusing on security-threat aspect of it. As a result, China’s Ministry of Foreign Affairs stated its disagreement with the political-economy approach to business relations and called for creating artificial constraints, but there should be equal and mutually beneficial economic partnership.

Thus, the openness of Germany to invest has still been highlighted by Economy Minister Robert Habeck though he focused on the protection of the technologies that are essential for maintaining public order and that define the government’s decision to block the deal. MAN Energy Solutions accepted the decision and provided assurances that there would be a gradual phase-out of the firm’s gas turbine development work to induce less impact to each of its employees, clients, and affiliates.

The German government has also encouraged cutting on dependence on China – Germany’s top trading partner and has called for favourable treatment of businesses. On the other hand, the EU has acted against what it considers unfair Chinese subsidies in electric vehicle manufacturing though there are voices within Germany to stop the planned tariffs on Chinese goods.

Germany’s cabinet has vetoed the sale of gas turbine business of MAN Energy Solutions, a Volkswagen subsidiary, to a Chinese company over security in the backdrop of worsened trade relations between EU and China.

Germany’s cabinet has vetoed the sale of gas turbine business of MAN Energy Solutions, a Volkswagen subsidiary, to a Chinese company over security in the backdrop of worsened trade relations between EU and China. The move shows the Germany economy ministry’s power to freeze and monitor deals, which may be dangerous to the nation’s security like other attempts by Berlin and EU to decrease the risks of China to economies dependency. Blacklisting by German Officials of the proposed sale to the Chinese state-owned CSIC Longjiang GH Gas Turbine Co (GHGT) for an undisclosed amount of money was declared in June 2023, and this hurry prompted Germany’s anti-terrorism agency to blacklist the company. A large part of the Chinese shipbuilding industry is owned by GHGT, affiliated with China State Shipbuilding Corporation (CSSC) and the Merkel administration frets that turbines might be used in the military. Also Read: EU lawmakers seek to guarantee ICE Tech into next decade Interior Minister Nancy Faeser appreciated the decision at a news conference focusing on security-threat aspect of it. As a result, China’s Ministry of Foreign Affairs stated its disagreement with the political-economy approach to business relations and called for creating artificial constraints, but there should be equal and mutually beneficial economic partnership. Thus, the openness of Germany to invest has still been highlighted by Economy Minister Robert Habeck though he focused on the protection of the technologies that are essential for maintaining public order and that define the government’s decision to block the deal. MAN Energy Solutions accepted the decision and provided assurances that there would be a gradual phase-out of the firm’s gas turbine development work to induce less impact to each of its employees, clients, and affiliates. The German government has also encouraged cutting on dependence on China – Germany’s top trading partner and has called for favourable treatment of businesses. On the other hand, the EU has acted against what it considers unfair Chinese subsidies in electric vehicle manufacturing though there are voices within Germany to stop the planned tariffs on Chinese goods.

Germany blocks VW's gas turbine business sale to China amid security concerns

MINI is preparing for a historic moment as it plans to debut the John Cooper Works E Prototype at the prestigious Goodwood Festival of Speed, scheduled from 11-14 July 2024. The event promises to provide an exciting preview of the electric vehicle’s capabilities before its official world premiere later this year. Known for its challenging course, the Goodwood hill climb will offer an ideal setting to demonstrate the performance and agility of MINI’s latest innovation.

Blending heritage with innovation

The John Cooper Works E Prototype represents more than just a new model; it signifies a bold leap forward in MINI’s evolution. By fusing the brand’s storied motorsport heritage with state-of-the-art electric powertrain technology, MINI is charting a course for a future where high-performance vehicles are also environmentally friendly.

Celebrating a legacy

The design of the John Cooper Works E Prototype honours MINI’s illustrious past. Featuring a distinctive camouflage pattern created by the MINI Design Team, the vehicle also prominently displays the “37” logo. This emblem commemorates MINI’s historic victory at the 1964 Rallye Monte Carlo, where the Mini Cooper S achieved a landmark win. This blend of historic and contemporary elements underscores MINI’s dedication to celebrating its legacy while looking ahead to the future.

Rudolf Juranek, MINI’s Head of Design, expressed his enthusiasm: “The John Cooper Works E Prototype embodies our commitment to pushing boundaries. This vehicle encapsulates MINI’s unique blend of heritage and innovation.”

Also read:&nbsp;<a href="https://www.wionews.com/autonews/robust-q2-ev-sales-inject-optimism-amidst-market-challenges-737366">Robust Q2 EV sales inject optimism amidst market challenges</a>

A glimpse into the future

The introduction of the John Cooper Works E Prototype signals MINI’s strategic direction. The company intends to offer both petrol and all-electric models in its future John Cooper Works lineup, catering to a diverse range of customer preferences and needs. This dual approach allows MINI to maintain its iconic driving experience while advancing towards a sustainable future.

Engineering excellence and performance

The John Cooper Works E Prototype is not just a showcase of MINI’s design prowess; it also exemplifies the brand’s engineering excellence. The advanced electric powertrain promises impressive performance, ensuring the new model meets the high standards set by its petrol-powered predecessors. As the automotive industry increasingly shifts towards electrification, MINI is positioning itself at the forefront of this transformation.

Alexis Morson, MINI’s Chief Engineer, highlighted the significance of this model: “Our goal with the John Cooper Works E Prototype was to create a vehicle that delivers on performance, sustainability, and the exhilarating driving experience MINI is known for.”

Anticipation builds ahead of world premiere

As anticipation builds for the official world premiere of the John Cooper Works E Prototype in autumn 2024, automotive enthusiasts and MINI fans are eager to see how this new model will perform in real-world conditions. The Goodwood Festival of Speed will offer an early indication of the vehicle’s potential, with its agile handling and dynamic performance expected to leave a lasting impression.

The transition to electric powertrains marks a pivotal moment for MINI, aligning with broader industry trends and consumer preferences for greener, more sustainable mobility solutions. By introducing the John Cooper Works E Prototype, MINI demonstrates its ability to innovate while staying true to its heritage.

A new era for MINI

The unveiling of the John Cooper Works E Prototype at the Goodwood Festival of Speed marks the beginning of an exciting new chapter for MINI. This model not only celebrates the brand’s rich history but also sets the stage for a future where high performance and sustainability go hand in hand. As MINI continues to evolve and embrace electric technology, it remains committed to delivering the thrilling driving experience that has made it an icon in the automotive world.

MINI is preparing for a historic moment as it plans to debut the John Cooper Works E Prototype at the prestigious Goodwood Festival of Speed, scheduled from 11-14 July 2024.

MINI is preparing for a historic moment as it plans to debut the John Cooper Works E Prototype at the prestigious Goodwood Festival of Speed, scheduled from 11-14 July 2024. The event promises to provide an exciting preview of the electric vehicle’s capabilities before its official world premiere later this year. Known for its challenging course, the Goodwood hill climb will offer an ideal setting to demonstrate the performance and agility of MINI’s latest innovation. Blending heritage with innovation The John Cooper Works E Prototype represents more than just a new model; it signifies a bold leap forward in MINI’s evolution. By fusing the brand’s storied motorsport heritage with state-of-the-art electric powertrain technology, MINI is charting a course for a future where high-performance vehicles are also environmentally friendly. Celebrating a legacy The design of the John Cooper Works E Prototype honours MINI’s illustrious past. Featuring a distinctive camouflage pattern created by the MINI Design Team, the vehicle also prominently displays the “37” logo. This emblem commemorates MINI’s historic victory at the 1964 Rallye Monte Carlo, where the Mini Cooper S achieved a landmark win. This blend of historic and contemporary elements underscores MINI’s dedication to celebrating its legacy while looking ahead to the future. Rudolf Juranek, MINI’s Head of Design, expressed his enthusiasm: “The John Cooper Works E Prototype embodies our commitment to pushing boundaries. This vehicle encapsulates MINI’s unique blend of heritage and innovation.” Also read: Robust Q2 EV sales inject optimism amidst market challenges A glimpse into the future The introduction of the John Cooper Works E Prototype signals MINI’s strategic direction. The company intends to offer both petrol and all-electric models in its future John Cooper Works lineup, catering to a diverse range of customer preferences and needs. This dual approach allows MINI to maintain its iconic driving experience while advancing towards a sustainable future. Engineering excellence and performance The John Cooper Works E Prototype is not just a showcase of MINI’s design prowess; it also exemplifies the brand’s engineering excellence. The advanced electric powertrain promises impressive performance, ensuring the new model meets the high standards set by its petrol-powered predecessors. As the automotive industry increasingly shifts towards electrification, MINI is positioning itself at the forefront of this transformation. Alexis Morson, MINI’s Chief Engineer, highlighted the significance of this model: “Our goal with the John Cooper Works E Prototype was to create a vehicle that delivers on performance, sustainability, and the exhilarating driving experience MINI is known for.” Anticipation builds ahead of world premiere As anticipation builds for the official world premiere of the John Cooper Works E Prototype in autumn 2024, automotive enthusiasts and MINI fans are eager to see how this new model will perform in real-world conditions. The Goodwood Festival of Speed will offer an early indication of the vehicle’s potential, with its agile handling and dynamic performance expected to leave a lasting impression. The transition to electric powertrains marks a pivotal moment for MINI, aligning with broader industry trends and consumer preferences for greener, more sustainable mobility solutions. By introducing the John Cooper Works E Prototype, MINI demonstrates its ability to innovate while staying true to its heritage. A new era for MINI The unveiling of the John Cooper Works E Prototype at the Goodwood Festival of Speed marks the beginning of an exciting new chapter for MINI. This model not only celebrates the brand’s rich history but also sets the stage for a future where high performance and sustainability go hand in hand. As MINI continues to evolve and embrace electric technology, it remains committed to delivering the thrilling driving experience that has made it an icon in the automotive world.

MINI set to unveil first electric John Cooper Works model at Goodwood Festival of Speed

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