ELECTRIC VEHICLE PUSH
EU slaps Chinese electric cars with tariffs of up to 38%
The European Union imposed provisional duties of up to 38 per cent on Chinese electric car imports due to alleged unfair state subsidies, sparking concerns of a trade war. The move was criticised by China as "politically motivated" and "protectionist." European countries are divided on the issue, with Germany fearing harm to its auto industry. Talks with China continue, with hopes for a negotiated solution to avoid escalating tensions.
EU governments hesitant on Chinese EV tariffs as trade spat escalates
Germany, whose carmakers made a third of their sales last year in China, wants to stop the tariffs, according to a government source, while France has been among the firmest backers.
EU governments waver over Chinese EV tariffs as trade spat escalates
EU countries debate supporting tariffs on Chinese electric vehicles in Brussels amid concerns over Beijing's possible retaliation affecting EU exports like cognac and pork.
BII bullish on Indian EV ecosystem, expects to invest USD 300 mn in 3 yrs: MD Abhinav Sinha
Abhinav Sinha of British International Investment envisions India surpassing China in EV adoption by 2030, ahead of Europe and the US, driven by government support and cost considerations, emphasizing the country's potential for significant growth in electric transportation.
Carmakers take the multiple powertrain ride
Carmakers from industry leader Maruti Suzuki to Tata Motors, Toyota Motor, Honda and Citroen, a relatively newcomer in the Indian market, offer diverse options in powertrains, from petrol, diesel and CNG to flexible fuel, electric and hybrid.
How a tax sop has created a divide in India's motown
Indian automakers are at a crossroads as they navigate the shift from internal combustion engines to electric vehicles. Consumers are showing a preference for hybrids over EVs, sparking debate among automakers. The government's proposed tax reduction for hybrids has divided industry leaders, with some advocating for incentives solely for electric vehicles. The potential impact on sales volumes and climate goals is a central point of contention.
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FADA plans to take up issue of high inventory with SIAM
The Federation of Automobile Dealers' Association (FADA) expressed concerns over high inventory levels and plans to discuss the issue with the Society of Indian Automobile Manufacturers (SIAM). FADA President Manish Singhania highlighted challenges faced by dealers, emphasizing the need for continuity in policies like FAME-3 and infrastructure development. Singhania noted that high inventory levels can impact dealerships negatively, especially if they exceed 30 days. He urged for collaboration with SIAM to address the issue and emphasized the importance of maintaining manageable inventory levels to avoid a repeat of the challenges faced in 2018-19.
Germany says 'serious movement' needed from China in EV tariff row
Chancellor Olaf Scholz's government is pushing for what it calls an "amicable" solution after the European Union threatened to impose swingeing anti-subsidy tariffs to shield European automakers from competition.
Strategic reforms in customs duties, GST, commerce to push India's inclusive growth, says GTRI
The think tank suggested increasing the GST exemption limit for a firm's annual turnover from 40 lakh to 1.5 crore as this will be transformative for India's MSME sector, promoting job creation and growth. Firms with less than Rs 1.5 crore turnover make up over 80 per cent of registrations but contribute less than 7 per cent of the tax collected, it said adding a yearly turnover of 1.5 crore equals 12-13 lakh monthly turnover, translating to just Rs 1.2 lakh at a 10 per cent profit margin.
Europe wants affordable electric vehicles from China. But not at the cost of its own auto industry
The European Union plans to increase tariffs on Chinese-made electric vehicles due to unfair subsidies. This move aims to address the surge in Chinese EV exports to Europe, posing a threat to EU manufacturers and green tech industries.
VinFast pushes ahead with Asia expansion, expects to open India plant ahead of schedule
VinFast in January signed an agreement with the Indian state of Tamil Nadu to invest as much as $2 billion in the country as it seeks to break into one of the world’s biggest auto markets. Work on the plant started in February, with an initial investment of $500 million.
First among equals: 5 PSU stocks which have benefited the most due to government policy push, spending & may continue their journey
Right from perennial under-performers like oil marketing and refining companies to PSU banks. Literally every stock which has the tag of “PSU” stock has seen a re-rating in the last two years. Now that the exit polls are predicting what the street has been looking for, that is continuity in the policy making framework, there is a high probability that there will be another round of re-rating of PSU stocks. So, continued policy and continued re-rating. Like the earlier re-rating, this time also, some sectors and stocks in the PSU space will outperform others. A company which is going to be providing finance for the expansion of the solar energy network which is the next focus area of the government. The overall demand runway for some of the sectors is longer. This essentially means that while every PSU is likely to see a push, there are a select few which are likely to see more tailwinds of business growth and valuation expansion.
Not so well known stakeholders of EV ecosystem: 8 stocks that don't come instinctively, 3 with an upside potential of more than 18%
We also have a whole list, but we have separated the eight companies, just because these companies are not the names which one would instinctively think about and probably they may have more to go as they form this index.
Hybrid vehicles aren't just bridge to EVs, Ford chief says
Ford CEO Jim Farley emphasized the importance of hybrid vehicles as a long-term solution rather than just a transitional technology during a recent Bernstein analyst conference. Farley expressed his belief that plug-in hybrids may become irrelevant in the near future, but extended-range hybrids will play a crucial role in the industry's future. Despite the surge in demand for hybrid vehicles over the past year, automakers have been scaling back on their electric vehicle (EV) investments.
Old empires could be the key to a new car future
Hydrogen, a vital element in water creation, is gaining traction as a fuel source for fuel-cell electric vehicles.
Japan's Toyota shows 'an engine born' with green fuel despite global push for battery electric cars
Toyota plans to introduce lean compact engines running on green fuels like hydrogen and bioethanol, paired with electric motors in hybrids. The company aims to push the world into carbon neutrality with optimized engines for the electrification era.
EV ride-hailer BluSmart seeks $300 million to expand car fleet
BluSmart, India’s top electric cab operator, aims to raise $300 million to expand its fleet with cars from top manufacturers, targeting major cities for premium service. The company focuses on electrification and sustainability efforts in India, with plans to double revenue by 2025.
Slowing EV sales are upending banker climate strategies
The global electric vehicle market faces challenges as China leads in EV development, impacting sales in Europe and US. Policy interventions are expected due to China's dominance and US tariff increases on Chinese imports.
How is the violent unrest in New Caledonia impacting global nickel prices?
Global nickel prices have surged following violent unrest in New Caledonia, a major nickel producer. Social unrest erupted over French constitutional changes allowing certain residents to vote in elections. New Caledonia holds significant nickel reserves, critical for electric vehicles and other industries. The turmoil has disrupted supplies, contributing to the price spike.
Talent demand in EV segment drives in new roles and contract hiring
The electric vehicle (EV) industry is booming, creating a demand for diverse skills and expertise. Opportunities span technical, leadership, and operational roles. Contract staffing is playing a crucial role in meeting the industry's needs, with a focus on talent development and agile solutions. Leaders face challenges in talent acquisition and navigating industry dynamics amidst rapid advancements.
Japanese automakers least prepared for EV transition: Think-tank
The four automakers with the lowest proportion of forecasted EV production in 2030 are all from Japan (Suzuki at 10%, Honda at 24%, Toyota at 29% and Mazda at 30%), with Toyota, Mazda and Suzuki all receiving the lowest performance, says InfluenceMap in its latest report titled, “Automakers and Climate Policy Advocacy: A Global Analysis.
Will China become the cat among India's EV pigeons?
Chinese electric vehicles are causing concern in the US and Europe due to their affordability and efficiency. The US has responded by imposing tariffs on Chinese EVs and lithium-ion batteries. India may now become a target for Chinese EVs. Stellantis is considering manufacturing Leapmotor's electric vehicles in India to avoid tariffs.
'US-China trade war escalation may lead to dumping of goods in India': GTRI
The US on Tuesday reignited the trade war with China by announcing a series of proposed tariff increases on imports including electric vehicles (EVs), batteries, and various other goods.
Tesla pullback puts onus on others to build electric vehicle chargers
Musk's decision to lay off the 500-member team responsible for installing charging stations, and to sharply slow investment in new stations, baffled the industry and raised doubts about whether the number of public chargers would grow fast enough to keep pace with sales of battery-powered cars.
Tesla's cheaper car push may put India, Mexico in back seat
The world's top EV maker said it plans to raise production by 50% from 2023 to its current capacity of close to 3 million vehicles before investing in new manufacturing lines. "This update may result in achieving less cost reduction than previously expected but enables us to prudently grow our vehicle volumes in a more capex efficient manner during uncertain times," it added.
Ford slows its push into electric vehicles
Ford and other automakers delay electric car plans, focusing on hybrids due to sales challenges. Consumers prefer hybrids for easier fueling. Ford aims to offer hybrid versions for all its models.
Zombie Chinese EV makers resurrected in ‘productive force’ push
Only a third of the top dozen manufacturers hit their sales target last year, and the industry has been embroiled in a bruising price war that has shrunk markets.
Car models crowd in as EVs spark in India
India's electric vehicle market is expanding rapidly with government support and increasing consumer awareness. Tata Motors leads the market with a range of popular models, while MG Motor India, Mahindra & Mahindra, and BYD are also prominent players.
Exclusive | Upstarts are everywhere, we have to be constantly on our toes in India: Uber CEO Dara Khosrowshahi
Dara Khosrowshahi took over as the CEO of Uber Technologies in 2017, when the mobility firm was in its most controversial period. The Iran-born executive, who replaced founder Travis Kalanick, is now being called tech’s newest turnaround chief. In an interview with ET’s Pranav Mukul, Samidha Sharma and Surabhi Agarwal, Khosrowshahi spoke about the company’s focus on only mobility, profitability and electric vehicle push.
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