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July 1, 2022

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S.Korea’s LGES reviews plan for $1.3 bln Arizona battery plant as U.S. inflation bites

Reuters
by Reuters00
SEOUL, June 29 (Reuters) – South Korean battery maker LG Energy Solution Ltd (LGES) (373220.KS) plans to reassess its investment plan for a standalone Arizona battery factory due to the current U.S. economic environment, a company spokesperson said on Wednesday. The spokesperson’s comments on the previously announced $1.3 billion investment......
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India plans safety rating system for passenger cars

Reuters
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Traffic moves on a road in a heat haze during hot weather on the outskirts of Ahmedabad, India, May 12, 2022. REUTERS/Amit Dave Register now for FREE unlimited access to Reuters.com Register NEW DELHI, June 25 (Reuters) – India will introduce a safety rating system for passenger cars – a......
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Japan’s Panasonic sees global car output improving this business year

Reuters
by Reuters01
June 1 (Reuters) – Panasonic Holdings Corp (6752.T), which makes batteries for Tesla and other automakers, said on Wednesday it expected global car production to recover this fiscal year, but predicted that the two-year long chip shortage would continue. “We will be running our business as we consider risks of......
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How a cheap component could help kill off combustion cars

Reuters
by Reuters01
LONDON/BERLIN, May 30 (Reuters) – The humble wire harness, a cheap component that bundles cables together, has become an unlikely scourge of the auto industry. Some predict it could hasten the downfall of combustion cars. Supplies of the auto part were choked by the war in Ukraine, which is home......
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Global light vehicle sales to fall further on China lockdown – data

Reuters
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Traffic is seen at West Street ahead of the July 4th holiday, in New York City, New York, U.S., July 2, 2021. REUTERS/Eduardo Munoz Register now for FREE unlimited access to Reuters.com Register May 25 (Reuters) – Auto industry consultants J.D. Power and LMC Automotive on Wednesday further cut their......
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North Korea launches ICBM after Biden summits with Asia allies

Reuters
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Three missiles launched from near Pyongyang, South Korea says Apparent tests came after Biden held summits in Seoul, Tokyo U.S., S.Korea test-fire missiles in response New S.Korea president vows harder line on N.Korea weapons tests SEOUL, May 25 (Reuters) – North Korea fired three missiles on Wednesday, including one thought......
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Hyundai Motor Group to invest $5 billion in U.S. through 2025

Reuters
by Reuters01
SEOUL, May 22 (Reuters) – Hyundai Motor Group said on Sunday it plans to invest an additional $5 billion in the United States through 2025 to strengthen its collaboration with U.S. firms in diverse technologies, such as robotics, urban air mobility, autonomous driving and artificial intelligence. Hyundai Motor Group, which......
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Exclusive: China in talks with automakers on EV subsidy extension

Reuters
by Reuters01
SHANGHAI, May 18 (Reuters) – China is in talks with automakers about extending costly subsidies for electric vehicles (EV) that were set to expire in 2022, aiming to keep a key market growing as the broader economy slows, three people familiar with the matter said. The move by policymakers comes......
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Toyota to make EV parts in India for domestic, export markets

Reuters
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The Toyota logo is seen on the bonnet of a newly launched Camry Hybrid electric vehicle at a hotel in New Delhi, India, January 18, 2019. REUTERS/Anushree Fadnavis Register now for FREE unlimited access to Reuters.com Register Move is part of Toyota’s 2050 carbon-neutrality goals NEW DELHI, May 11 (Reuters)......
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Musk says he would reverse Twitter ban on Donald Trump

Reuters
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May 10 (Reuters) – Billionaire Elon Musk said Tuesday he would reverse Twitter’s ban on former U.S. President Donald Trump when he buys the social media platform, the clearest signal of Musk’s intention to cut moderation of the site. Musk, the world’s richest person and chief executive of Tesla Inc,......
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Exclusive: Tesla halts most production at Shanghai plant on Tuesday – memo

Reuters
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Tesla China-made Model 3 vehicles are seen during a delivery event at the carmaker’s factory in Shanghai, China January 7, 2020. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register Plant to produce less than 200 cars on Tuesday – memo Plant halted work due to supplies issues......
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Stellantis to boost EV plants with C$3.6 bln investment

Reuters
by Reuters01
A view shows the logo of Stellantis at the entrance of the company’s factory in Hordain, France, July 7, 2021. REUTERS/Pascal Rossignol Register now for FREE unlimited access to Reuters.com Register May 2 (Reuters) – Stellantis N.V. (STLA.MI) will spend up to C$3.6 billion ($2.8 billion) to boost production of......
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Forvia drives cautiously into 2022 as China, Ukraine cloud auto outlook

Reuters
by Reuters00
Cautious 2022 guidance for combined group Faurecia suspends dividend Demand hit by Chinese lockdowns, Ukraine Shares down slightly after early boost April 26 (Reuters) – Forvia, the European car parts maker created by Faurecia’s (EPED.PA) takeover of German rival Hella (HLE.DE), is cautious about the outlook for 2022, based on......
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German-funded consortium to develop ‘battery passport’ for Europe

Reuters
by Reuters00
BERLIN, April 25 (Reuters) – A German-funded consortium of carmakers and battery producers, including BMW (BMWG.DE), Umicore (UMI.BR) and BASF (BASFn.DE), is to develop a “battery passport” that traces the content and carbon footprint of batteries in Europe, Germany’s economy ministry said on Monday. The consortium of 11 partners has......
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Rheinmetall seeks to export heavy weapons to Ukraine, source says

Reuters
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BERLIN, April 25 (Reuters) – German defence company Rheinmetall (RHMG.DE) has requested approval to export 100 old Marder infantry fighting vehicles to Ukraine, a defence source told Reuters on Monday, in what would be the first heavy weapons shipment from Germany to Ukraine. The company is seeking an export licence......
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Swiss veto German request to re-export ammunition to Ukraine – paper

Reuters
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A Marder armoured infantry fighting vehicle of the German army Bundeswehr is pictured at Rukla military base, Lithuania April 22, 2022. REUTERS/Alexander Ratz Register now for FREE unlimited access to Reuters.com Register ZURICH, April 24 (Reuters) – Neutral Switzerland has held up German arms deliveries to Ukraine by blocking the......
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Elon Musk’s Tesla races ahead of rising costs with price hikes

Reuters
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SAN FRANCISCO, April 20 (Reuters) – Tesla Inc results (TSLA.O) surged past Wall Street expectations on Wednesday, as higher prices helped insulate the electric vehicle maker from supply chain chaos and rising costs. The results also should trigger $23 billion in new payouts to CEO Elon Musk, already the world’s......
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CEO steers electric truck startup Rivian through supply chain twilight zone

Reuters
by Reuters00
NORMAL, Ill., April 18 (Reuters) – Rivian Automotive Inc (RIVN.O) CEO R.J. Scaringe needs to sell a lot more electric vans and pickup trucks to boost a beaten down stock price and fund his ambitious long-term growth plans, but the startup is having trouble buying the parts to build them.......
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Honda to spend $64 billion on R&D as it revs up electric ambitions

Reuters
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The Honda Motor logo is pictured at the 43rd Bangkok International Motor Show, in Bangkok, Thailand, March 22, 2022. REUTERS/Athit Perawongmetha Register now for FREE unlimited access to Reuters.com Register TOKYO, April 12 (Reuters) – Japan’s Honda Motor Co Ltd (7267.T) said on Tuesday it plans to spend $64 billion......
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Exclusive: Canada to invest C$2 billion on mineral strategy for EV battery supply chain

Reuters
by Reuters00
OTTAWA, April 4 (Reuters) – Canada’s federal budget will include an investment of at least C$2 billion ($1.6 billion) for a strategy to accelerate the production and processing of critical minerals needed for the electric vehicle (EV) battery supply chain, two senior government sources said. Prime Minister Justin Trudeau’s government,......
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