Top Indian Automobile Industry News & Updates - 21 Sep 2023,Thursday

🏢 Industry

Tata Motors DVR may be included in global indices in November
The surge in its stock price and the narrower discount vis-a-vis ordinary shares could potentially lead to Tata Motors DVR’s inclusion in global indices in November, said analysts. While Tata Motors is a member of Nifty, Sensex and some global indices, Tata Motors DVR has a much smaller index membership due to its lower free float and liquidity.
M&M market valuation crosses Rs 2 lakh crore
The market capitalisation of Mahindra and Mahindra Ltd crossed Rs 2 lakh crore mark, helped by a strong order book in the SUV segment and leadership position in tractor segment.
Tesla courts interest from Turkey to India for next gigafactory
Tesla's plan to expand its global manufacturing footprint has sparked a race among some countries to woo CEO Elon Musk and secure billions in investment dollars.
Semiconductor supply chains in Asia significant for Intel: CEO Pat Gelsinger
Semiconductor supply chains in Asian countries such as India, China, Malaysia, Taiwan, Vietnam, and Indonesia are becoming more significant over time for Intel, the company’s chief executive officer Pat Gelsinger said.
India, US join hands to launch 10,000 electric buses on Indian streets
New Delhi: US Ambassador to India Eric Garcetti on Wednesday said electric buses can change the world and give a future where the planet will be liveable. The ambassador travelled in an Indian electric bus here to attend a session on "accelerating deployment of electric buses in India".
Hyundai India leads in 4W mass market, HMSI in 2W and VECV in CV segment: FADA satisfaction survey
New Delhi: The Federation of Automobile Dealers Associations (FADA), India's premier organization for automobile retail, Wednesday unveiled the results of its comprehensive Dealer Satisfaction Study 2023 (DSS'23). Conducted in collaboration with Singapore-based PremonAsia, a leader in consumer insights and advisory services, the study looks into the auto retail landscape in India.
​ASDC and GIZ India launch innovative EV Technician course
New Delhi: Automotive Skills Development Council (ASDC), the sole skill body under the Ministry of Skill Development and Entrepreneurship, in collaboration with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, a German development agency, has announced the inauguration of a pioneering short-term Electric Vehicle (EV) technician course.
India gears up for the first MotoGP Bharat this weekend
New Delhi: As India gears up to host the first edition of MotoGP Bharat this weekend, the Indian promoters, Fairstreet Sports are bullish on the potential of growing the popularity of the motorcycle racing series in the country in the long term. The promoters expect MotoGP Bharat to become a profitable venture by the third year. 
When will electric vehicles get cheaper? Tata Motors' Chief Product Officer, Anand Kulkarni, says this
Electric vehicle battery prices may soon stabilise, and as a result, some EVs would gain parity with ICE vehicles in price, according to Anand Kulkarni, the Chief Product Officer and the Head of High Voltage Programs at Tata Passenger Electric Mobility Ltd.
FAME II may need more fuel as EV sales rev up, heavy industries ministry seeks additional Rs 1,700 cr

Mumbai: The ministry of heavy industries is expected to ask the finance ministry for an additional ₹1,500-1,700 crore under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) scheme, senior ministry officials said. With robust electric vehicle sales, funds earmarked for the second phase are likely to be exhausted before March 2024.
Bafna Motors sells 4-acre plot in Navi Mumbai’s Nerul to Greenscape IT Park

Bafna Motors (Mumbai), one of the key dealers for Tata Motors commercial vehicles, has sold the leasehold rights of a 4-acre prime land parcel in Trans Thane Creek industrial area in Navi Mumbai’s Nerul locality for over Rs 145 crore to Greenscape IT Park LLP.
Uber Auto in Delhi among services driving company’s growth: CEO
 
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🎤 Interviews & Features

India needs growth-focused, radical digitalisation to unleash its potential, says Dilip Sawhney, MD, Rockwell India
Edited excerpts:
Road travel surges in India ahead of festive season: Simpl Checkout report
As weekends approach, more and more people are opting for road trips using services like Zoomcar, DriveU, and QuickRide during the period leading up to the festive season. Simpl, a payment platform, has reported that the number of bookings on these merchant platforms, made through its one-tap checkout, has doubled in August this year compared to the same time in 2022.
Domestic markets more exciting, but exports recovery has commenced too: Rakesh Sharma, Bajaj Auto
What have festive sales been like up until now? Which segments do you believe could really propel growth?
Jeep Compass 4x2 AT first drive review: Part raw, part rugged, part rad
Jeep Compass 4x2 AT: Still capable?
JCB’s Chairman Lord Bamford backs India as an investment destination
Post-Covid, India has become a preferred destination for investments vis a vis China as global corporations see humongous potential for growth in an economy that is one of the fastest-growing.
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🚗 Cars / SUVs

2024 Volkswagen Tiguan globally unveiled– gets petrol, hybrid, diesel engines
Volkswagen has globally unveiled the new generation Tiguan at its world premiere in Wolfsburg, Germany. Tiguan has been the company’s highest-selling model since 2018 with more than 76 lakh units of the SUV sold globally since its debut in 2007. The third-gen model of the premium mid-size SUV will roll out from its Wolfsburg facility later this year.
Kia India adds two trims GTX+(S) and X-Line (S) to new Seltos
New Delhi: Kia India has launched two new variants: GTX+ (S) and X-Line (S), positioned between the premium HTX+ variant and GTX+ and X-Line variants. These variants fill the gap between the premium HTX+ variant and the GTX+ and X-Line models, aiming to reduce waiting times and enrich the value proposition for customers.
Mahindra Thar, Scorpio-N price increased, buyers to pay extra as much as an Apple iPhone 15
Mahindra Thar is one of the most recognised SUVs in the country right now and as the company is getting closer to the launch of 5-door Mahindra Thar, the SUVs popularity has gone through the roof. Mahindra Thar has been facing a long waiting period since the launch of the latest model, however new Thar buyers will now have to pay extra to own the SUV as Mahindra has hiked prices of its popular vehicles that includes Thar, Scorpio-N and Scorpio Classic. The popular Mahindra Thar price has been increased by up to Rs 44,000. The base model of the Mahindra Thar SUV is now priced at Rs 10.98 lakh (ex-showroom) and the top of the line variant now costs Rs 16.93 lakh (ex-showroom).The 2wd AX(O) MT variant has received the highest hike of Rs 44,000 among the lineup.
Mahindra Bolero Neo+ Ambulance launched at Rs 13.99 lakh
Mahindra & Mahindra, one of the leading SUV maker in India has launched the Bolero Neo+ Ambulance that complies with AIS:125 (Part 1) norms that govern the Type B Ambulance segment, at Rs 13.99 lakh.
Six most affordable cars with ADAS
In the last couple of years, the Indian automobile sector has seen a paradigm shift in the field of safety. With Indian automobile brands receiving a 5-star safety rating from Global NCAP, the manufacturers are upping the game by introducing state-of-the-art Advanced Driver Assistance Systems (ADAS). We find out which are the most affordable cars that come with ADAS.
Citroen C3 Aircross variants explained: Seven-seater Seltos, Creta rival
Citroen India recently announced that the C3 Aircross will be priced from Rs 9.99 lakh (ex-showroom) onwards, with the variant-wise pricing yet to be revealed. However, the French automaker has also revealed that the Hyundai Creta and Kia Seltos rivaling seven-seater SUV will be offered in three trim levels, namely You, Plus and Max.
 
Dealer satisfaction: Hyundai leads in four-wheeler segment
Chennai: When it comes to dealer satisfaction, Korean car major Hyundai leads in the four-wheeler mass market segment whereas Honda Motorcycle & Scooter India and Volvo Eicher Commercial Vehicles retained their top spots in the two- wheelers and commercial vehicle segments for the third consecutive year.
 
Tata Nexon SUV diesel mileage revealed, offers more than Venue or Sonet
According to the fuel efficiency figures revealed by Tata Motors, the petrol variants of the Nexon SUV with manual and dual-clutch transmission options offer mileage of 17.01 kmpl. The Nexon petrol variants with the AMT gearbox offers 17.44 kmpl of mileage. In diesel version, the Nexon offers at least 23.23 kmpl in variants offered with manual transmission. The variants which are offered with AMT gearbox, offers up to 24.01 kmpl of mileage.
Hyundai i20 facelift on-road prices in top 10 cities in India
Source Credit: Prachi Ahluwalia, The Times of India

Hyundai India recently launched the i20 facelift in the Indian market at a starting price of Rs 6.99 lakh (ex-showroom). The hatchback is available in five variants - Era, Magna, Sportz, Asta and Asta(O) and eight colour options. Here we have mentioned the on-road prices of the 2023 Hyundai i20 in top cities in India.

2023 Hyundai i20 on-road prices:

City i20 Era MT variant i20 Asta (O) iVT variant
Delhi Rs 7.99 lakh Rs 12.91 lakh
Hyderabad Rs 8. 44 lakh Rs 13.64 lakh
Bengaluru Rs 8.45 lakh Rs 13.65 lakh
Mumbai Rs 8.25 lakh Rs 13.11 lakh
Chennai Rs 8.18 lakh Rs 13.43 lakh
Lucknow Rs 8.01 lakh Rs 12.63 lakh
Jaipur Rs 8.08 lakh Rs 12.75 lakh
Pune Rs 8.25 lakh Rs 13.11 lakh
Gurgaon Rs 8.01 lakh Rs 12.63 lakh
Amritsar Rs 7.94 lakh Rs 12.52 lakh
Hyundai i20, Grand i10 Nios waiting period in September 2023
Source Credit: Prachi Ahluwalia, The Times of India

Hyundai is the second-best-selling car manufacturer in the Indian market as per sales numbers. In the last few months, Hyundai has launched the all-new Exter SUV and the facelifts of the i20, Aura, Venue and Grand i10 Nios across the country. In this story, we list the waiting period details of the 2023 Hyundai i20 and the Grand i10 Nios facelift, as confirmed by our dealer sources.

2023 Hyundai i20 waiting period
The Hyundai i20 facelift has been recently launched at a starting price of Rs 6.99 lakh (ex-showroom) in India. The top-spec variant is priced at Rs 11.01 lakh, ex-showroom onwards. Hyundai is offering the 2023 i20 in five variants - Era, Magna, Sportz, Asta and Asta (O).

Talking about the waiting period, the 2023 Hyundai i20 commands a waiting period of up to 10 weeks maximum from the date of booking. The 1.2-litre Sportz variant has a waiting period of 2-4 weeks, while the Asta and Magna 1.2-litre variants have a waiting period of 6-8 weeks. Customers purchasing the Asta(O) 1.2L petrol variant have to wait for 4-6 weeks.
 
Hyundai Motor India net profit jumps 62.3% to Rs 4,709.25 cr in FY23

The company, which is the second largest passenger vehicles manufacturer in India, had posted a consolidated net profit of Rs 2,901.59 crore in 2021-22.
Skoda teases new Superb sedan and Kodiaq SUV while testing, India launch likely
 The car brand started testing the new models about four years ago, while the real-world testing started two years ago. Skoda claims that the new Superb and Kodiaq prototypes have experienced temperatures ranging between minus 30 degrees and 50 degrees Celsius. For the temperature testing, the cars have travelled north of the Arctic Circle while also visiting Arizona, Spain, and Africa. The cars claim to have faced 13 per cent inclines while driving in the Austrian Alps, helping the company to study the models' brake efficiency and thermal regulation.
Jeep brand eyes doubling sales, increasing localisation
 
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Electric-Cars / SUVs

Fiat Topolino is a tiny EV with a tinier price point
The Fiat Topolino, based on the Citroen Ami, is just 2.53 meters long and has a top speed of 45 kmph. For reference, the smallest EV in India is the Comet EV from MG Motor and it measures 2.97 meters in length and has a top speed of 100 kmph. The Topolino, however, is meant far more for practicality than it is for show and performance.
BYD India delivers 200 ATTO 3 e-cars on Sept 17 in select cities
New Delhi: BYD India, a subsidiary of BYD, has delivered 200 ATTO 3 electric passenger vehicles through a series of events on September 17, 2023 across six major Indian cities – Delhi NCR, Mumbai, Bengaluru, Chennai, Hyderabad, and Kochi.
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🚗 Luxury Cars

Mercedes EQE vs BMW iX, Jaguar i-Pace: Price, range and features compared
Mercedes-Benz EQE, which is the electric version of the GLE SUV, has been launched in India with single variant option. The EQE on offer is the 500 4MATIC variant, which sits on top of the range in the lineup. In India, the EQE is available at a price of ₹1.39 crore (ex-showroom). In comparison, the iX electric SUV from BMW is around ₹15 lakh more affordable and priced at ₹1.24 crore (ex-showroom). The price of the Jaguar i-Pace electric SUV starts at ₹1.20 crore (ex-showroom), almost ₹20 lakh more affordable than the EQE.
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⛟ Commercial Vehicles

Electric buses can change the world: US Ambassador
 
VECV marks 15 years in India, says focused on exports and EV growth
 
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🏗 Construction & Agri Machinery

Escorts Kubota to set-up NBFC for customers with a budget outlay of upto Rs 900 crore
Escorts Kubota, one of the leading engineering companies in the farming and construction equipment segment is looking to set-up a non-banking financial company (NBFC) with an authorised capital of Rs 700 crore.
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🏍 2/3 Wheelers

2023 KTM Duke 390 vs Triumph Speed 400 vs Bajaj Dominar 400: Specs, price compared
The recently launched 2023 KTM 390 Duke makes it the third sub-400 ccc single-cylinder naked street motorcycle to join Bajaj Auto's portfolio, along with the Triumph Speed 400 that is co-developed by Triumph and Bajaj, as well as the Dominar 400. While all three motorcycles carry their own USPs, they do give competition to one another too.
 
Royal Enfield launches new rental scheme for bikes
Royal Enfield has introduced a new rental scheme called Royal Enfield Rentals. This new scheme allows travellers and motorcyclists access to rent from a wide portfolio of over 300 Royal Enfield motorcycles across 25 cities in India, from more than 40 motorcycle rental operators.
Royal Enfield appoints AW Rostamani Group as official distributor for UAE
Royal Enfield has further strengthened its presence in the Middle East and Africa region with the appointment of AW Rostamani Group as its official distribution partner for the UAE region.
New Ducati Multistrada V4 S Grand Tour — All you need to know
Ducati has announced the new Multistrada V4 S Grand Tour motorcycle, based on the popular V4 S platform. With the new motorcycle, Ducati claims that it is targeted at touring in luxury, and with the level to what the motorcycle is specced to, Ducati is right.
Aprilia RS 457 unveiling today: What to expect?
After murmurs of Aprilia developing a new twin-cylinder sports bike going for a long time, the Italian brand will officially unveil the same today. The bike has taken the shape of the all-new RS 457 and is specifically targeted at emerging markets like India. More importantly, the motorcycle will be manufactured at Aprilia’s Baramati plant in Maharashtra. 
Aprilia RS 457 vs Kawasaki Ninja 400: Affordable twin-cylinder sports bike comparo
Source Credit: Sahil Kukreja, The Times of India

The Aprilia RS 457 has finally made its much-awaited Indian debut today as the company's smallest motorcycle in the country. While still a niche product, the Aprilia RS 457 caters to the growing demand of accessible motorcycles from big bike manufacturers, and will directly face competition from one specific product - the Kawasaki Ninja 400.

Check out this specifications and price comparison between the two faired sportbikes -

Engine specs
The Aprilia RS 457 makes use of a 457 cc liquid-cooled twin-cylinder engine producing 47 hp of maximum power, mated to a 6-speed gearbox. Torque output is yet to be revealed.

🚲 Electric 2/3 Wheelers

Ola Electric eyes IPO filing by end-Oct in expedited listing plan-sources
India's Ola Electric plans to file regulatory papers for its up to USD 700 million IPO before the end of October as the e-scooter maker fast-tracks its listing move, three people with direct knowledge said.
Dynamo Alpha, Smiley, Infinity, VX1 electric scooters launched: Offers up to 200 km range
Dynamo Electric recently launched its Alpha, Smiley, Infinity, VX1, RX1 and RX4 electric scooters in the Indian market. The company has showcased these high-speed and low-speed e-scooters at EV India Expo 2023 in the India Expo Centre, Greater Noida.
 
MotoGP Bharat 2023: Former world champion Loris Capriossi takes Ola electric scooter for a spin on BIC tracks
 The Ola Diamondhead comes with a diamond-shaped panel at the front, which paved the way for the nomenclature. The diamond panel gets a sleek LED strip, while the actual LED headlamp sits beneath the beak. The concept sportsbike was showcased as a semi-faired model.
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🌇 Allied Industries

Battery of electric two-wheeler explodes while charging in Delhi. Here what causes EV fires and safety tips
The battery of an e-scooter exploded at a shop in south Delhi's CR Park area, according to reports.
StrideOne in talks to acquire EV tech startup MoEVing
StrideOne Capital Pvt. Ltd, the non-banking financial company (NBFC) set up by the founders of venture debt fund Strides Venture Partners, is in talks to acquire MoEVing Urban Technologies Ltd, the operator of the electric vehicle (EV) tech startup MoEVing, said two people aware of the development, seeking anonymity.
Modulus Alternatives infuses INR 105 crore in Shivam Autotech, commits total investment of INR 150 crore
Private credit platform Modulus Alternatives Investment Managers Ltd on Wednesday said it has infused INR 105 crore in transmission gear and shafts maker Shivam Autotech as part of its commitment to invest INR 150 crore in the company. The proceeds of the investment will be utilised for both growth and working capital, Modulus Alternatives said in a statement.
Micron set to break ground for chip unit
New Delhi: Micron Technology is scheduled to break ground for its semiconductor testing and assembly plant in Gujarat’s Sanand on Saturday, barely three months after the US chipmaker announced its intent to set up the unit.
Via Terra Austin riding jeans review: The comfortable side of biking
Armoured motorcycle riding jeans have become popular in India and for a customer looking for a pair, the choices are many across the price range. However, the more affordable options don’t have adequate protection, or the ones with good armour cost too much. For some, they don’t mind shelling out money for good protective gear – which is the right way to do it – while others are in search of good gear at a reasonable price.
All charged up: India’s battery storage plans
How do we store battery energy?
Labour dispute halts production at Apollo Tyres Limda plant in Gujarat
 
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🌢 Fuels, Lubricants & Charging Stations

India’s crude oil imports slip to 10-month low in August 2023
Crude oil imports by India, the world’s third largest importer of the most critical fossil fuel, declined by almost 4 per cent M-o-M to 18.73 million tonnes (mt) in August largely due to production cuts by Russia and autumn refinery maintenance. However, imports last month were higher on an annual basis by more than 6 per cent from 17.64 mt in August 2022.
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💸 Finance & Insurance

Kinetic Green partners SBI to provide affordable finance schemes for electric three-wheelers in North India
Kinetic Green Energy and Power Solutions, a leading manufacturer of electric two- and three-wheelers has partnered State Bank of India (SBI), Chandigarh Circle to offer financing on its electric three-wheeler range in the North Indian market.
Euler Motors collaborates with SIDBI for EV financing
Euler Motors has announced a collaboration with the Small Industries Development Bank of India (SIDBI) for the visionary “Mission 50K-EV4ECO” program, aimed at catalysing the entire EV value chain. This strategic partnership aims to revolutionize the electric vehicle financing segment, strengthen the electric mobility ecosystem, and pave the way for a sustainable future.
How to transfer no claim bonus of motor insurance policy to a new vehicle

The insured party owns the No Claim Bonus (NCB), not the vehicle. Therefore, if you're buying a new car, you can transfer your current NCB to the new car, according to the Insurance Regulatory Development Authority of India (IRDAI) website.
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📖 Magazines News

Volkswagen confirms three-row Tayron SUV for global markets
Source Credit: Autocar India

Volkswagen has confirmed the development of an all-new, three-row SUV as a successor to the Tiguan AllSpace, which will be retired after its current generation. This, as we have exclusively reported, will be sold as the 'Tayron' in India and other parts of the world, except the USA, where it will retain the ‘Tiguan’ moniker due to its popularity.
Kia Seltos GTX+ (S), X-Line (S) launched to combat supply constraints
Source Credit: Autocar India

Kia India has added two more variants to the recently launched Seltos facelift – the GTX+ (S) and X-Line (S) priced at Rs 19.39 lakh and Rs 19.59 lakh (ex-showroom), respectively.
Citroen C3 Aircross price, variants explained
Source Credit: Autocar India

Citroen have launched the C3 Aircross with an indicative pricing starting from Rs 9.99 lakh. With this launch, the French marque aims to take on the likes of the Hyundai Creta, Kia Seltos and the Maruti Suzuki Grand Vitara. The C3 Aircross is available with a 1.2-litre, 3-cylinder turbo-petrol engine that produces 110hp with 190Nm of torque, and comes mated to a 6-speed manual transmission only. We explain all the C3 Aircross' trims along with their prices and features list.
New Volkswagen Tiguan officially revealed
Source Credit: Autocar India

The third-gen Volkswagen Tiguan has been finally revealed after a series of online leaks. The new SUV will go on sale overseas next year and has been comprehensively restyled and re-engineered, according to Volkswagen. 
Mahindra XUV300 sees a marginal price cut for some variants
Source Credit: Autocar India

Mahindra has unveiled fresh prices for the XUV300, with most trim levels seeing a marginal price drop. The XUV300 line-up currently gets a total of five variants and three engine options mated to either a manual or an AMT transmission. 
Jeep Compass 4x2 AT review: Doubling down
Source Credit: Autocar India

Jeep has built its reputation around its off-road capability, and true to its DNA, every Jeep comes with a 4x4 option. However, does every Jeep owner in India desire the capability to conquer cliffs and ford rivers?  Not quite. That’s why Jeep has a 4x2 option for those who want the Jeep cred but without venturing far from paved roads, and without the added cost. But, in what can be best termed as a product planning goof-up, Jeep axed the Compass 1.4 turbo-petrol 4x2 auto, leaving the pricier 4x4 diesel as the sole automatic offering in the Compass range.
Ather to launch two new e-scooters by March 2025
Source Credit: Autocar India

Electric vehicle startup Ather Energy aims to double its market share to 30 percent (currently with two new product launches by FY2025 (by March 2025). The company is currently third when it comes to market share, with 54 percent growth over last year and cumulative sales of 5,52,439 units in the January-August 2023 period.
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📰 International News

Volvo to ditch all diesel engines, last model to come out in 2024
Volvo Cars has announced that it will end production of any remaining diesel models by early 2024 as it heads towards becoming an all-electric carmaker. “In a few months from now, the last diesel-powered Volvo car will have been built, making Volvo Cars one of the first legacy car makers to take this step,” the Swedish company said in a statement.
Ford Motor avoids US-like strike in Canada by auto workers' union, strikes last minute deal
Unifor, which represents about 5,600 Canadian auto workers, were threatening to go on strike at all three of Ford's plants in the country if a deal was not reached by 11:59 p.m. on Tuesday (0359 GMT on Wednesday). "We leveraged our union's most powerful weapon: the right to strike," Unifor said of the tentative deal in a statement. "The gains achieved were hard fought for over weeks of negotiation."
Russia considers export duty on oil products of USD 250/T from Oct. 1
Russia's government is considering imposing export duties on all types of oil products of USD 250 per metric ton - much higher than current fees - from Oct. 1 until June 2024 to tackle fuel shortages, sources told Reuters on Tuesday.
China's BYD challenges Toyota and Nissan in Japan's compact car market
New Delhi: In a move to challenge automakers in Japan, Chinese automaker BYD has unveiled its second model for the Japanese market—a compact electric car named "The Dolphin." Priced at 3.6 million yen (USD 24,000), BYD's announcement sent ripples through the automotive industry.
Georgia Tech and Hyundai Motor Group sign MoU for future mobility collaboration
New Delhi: Georgia Tech and Hyundai Motor Group WEdnesday signed a memorandum of understanding to collaborate on research and applications to support the future of sustainable mobility, including developing a hydrogen economy, workforce development, and making cities smarter and more sustainable, among many other areas of cooperation.
Ismail Dagli to head Continental’s Autonomous Mobility business area from Oct 1, 2023
New Delhi: Effective October 1, 2023, Ismail Dagli will take charge of Continental’s Autonomous Mobility business area, succeeding Frank Petznick, who will leave the company at his own request at the end of September.
Cloudera helps SAIC Volkswagen monitor vehicle data in real time
New Delhi: Cloudera, the data company for trusted enterprise AI, announced that it has helped SAIC Volkswagen (SVW) build a vehicle data monitoring platform to address regulatory requirements on collecting and monitoring smart vehicle data for its Internet of Vehicles (IoV) business.
More than a fifth of cars sold in EU in August were full EVs: ACEA
Just over one in five new cars sold in the European Union in August was fully electric, as sales of zero-emission models more than doubled, data from the European Automobile Manufacturers Association (ACEA) showed on Wednesday.
Ford avoids Canada walkout as UAW prepares for more US auto strikes
Ford reached a last-minute deal to avoid a walkout at its Canadian operations late on Tuesday, as the United Auto Workers union prepared for a potential expansion of its U.S. strikes against the Detroit Three automakers.
Exxon working on direct air capture of CO2, stays out of EV charging stations
Exxon Mobil Corp is working on developing technology for direct air capture (DAC) of carbon dioxide, and sees a clear place for it in a net-zero future, an Exxon executive said on Tuesday, but the largest U.S. oil company has no plans to invest in building electric vehicle charging stations.
Chinese EV maker Nio raises USD 1 bn in convertible bond deal
Chinese electric vehicle maker Nio Inc said on Wednesday it had raised USD 1 billion in a two-tranche convertible bond from which it intends to use the proceeds to pay down debt and strengthen its balance sheet.
UK pushes back plans to ban sale of petrol-powered cars. Here's why
Britain has a stated objective of attaining a legally-binding target of achieving net zero emissions by 2050 and a firm grip on vehicular emissions in the country will go a long way towards this. But many argue that a ban on petrol-powered vehicles - or cars in particular, could be way too radical a decision for the public at large. Sunak, therefoe, wants to hear from the public at large.
US DoJ begins investigating Tesla perks for Elon Musk
 
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