DIRS.INFO The most relevant business & tech news

☆ The automakers and suppliers pushing to cut rare earths from EVs
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +4 min

1 U.S. automaker says it is "exploring options to limit or potentially eliminate rare earth materials in EV motors." BORGWARNER (BWA.N)The U.S. supplier already has an EV motor in production that has reduced heavy rare earth content. ZF (ZFF.UL)German supplier ZF has developed an EESM EV motor that could be in production in two years. The German premium automaker says it aims to remove heavy rare earth content entirely. EuroGroup Laminations (EGLA.MI) Electric motor component maker EuroGroup Laminations is working on both rare earth free permanent magnet motors and motors with limited rare earth content for automaker customers.

Persons: Darrin Zammit Lupi, Tesla, Stellantis, Zoe, Mercedes, Nick Carey, Sharon Singleton Organizations: REUTERS, BMW, GENERAL MOTORS, Volvo, ROVER, Tata Motors, Renault, RENAULT Renault, NISSAN, Nissan, MERCEDES, BENZ, TOYOTA, Toyota, Volkswagen, U.S, KKR, Thomson Locations: Malta, China, U.S, Niron Magnetics, Niron

[1/4] A wheel loader operator fills a truck with ore at the MP Materials rare earth mine in Mountain Pass, California, U.S. January 30, 2020. Market leader Tesla (TSLA.O) garnered headlines earlier this year saying it would cut rare earths from its next-generation EVs. China dominates the mining and processing of a group of 17 metals known as rare earths, though companies elsewhere are trying to loosen China's grip. 'WAITING IN THE WINGS'The average EV permanent magnet motor uses around 600 grams (1.32 lb) of heavy rare earth neodymium. Tesla's announcement on dropping rare earths "opened up buyers' eyes to the fact that you don't really need rare earths to make EV magnets," Niron CEO Jonathan Rowntree said.

Persons: Steve Marcus, Tesla, Otmar Scharrer, Scharrer, you've, Ben Chiswick, Uwe Deuke, Gerd Roesel, Jonathan Rowntree, Oki, James Edmondson, Edmondson, Mike Grant, Nick Carey, Christina Amann, Paul Lienert, Ernest Scheyder, Gilles Guillaume, Giulio Piovaccari, Ben Klayman, Sharon Singleton Organizations: REUTERS, Auto, LONDON, General Motors, Rover, Nissan, ZF, U.S, BMW, Renault, GM, EV, Warwick Acoustics, Thomson Locations: Pass , California, U.S, China, BERLIN, German, Detroit, Europe, London, Berlin, Houston, Paris, Milan

☆ India's TCS expands partnership with Britain's JLR in over $1 billion deal
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

A member of staff works on the production line at Jaguar Land Rover’s factory in Solihull, Britain, December 15, 2022. REUTERS/Phil Noble/File photo Acquire Licensing RightsBENGALURU, Sept 6 (Reuters) - India's Tata Consultancy Services (TCS.NS) and Britain's Jaguar Land Rover (JLR) have expanded their partnership, valued at more than 800 million pounds ($1.00 billion) over five years, the two Tata Group companies said on Wednesday. As part of the partnership, India's top IT services exporter would deliver a range of services for the vehicle manufacturer spanning application development and maintenance to cloud migration, cybersecurity and data services. TCS had in June signed a $1.1 billion contract with British pension scheme Nest. Rivals Infosys (INFY.NS) signed three deals between June and August, while HCL Technologies (HCLT.NS) secured a $2.1 billion deal with U.S. telecom major Verizon last month.

Persons: Phil Noble, Nandan Mandayam, Shilpi Majumdar Organizations: REUTERS, Rights, India's Tata Consultancy Services, Rover, Tata Group, JLR, TCS, Infosys, HCL Technologies, U.S, Verizon, Thomson Locations: Solihull, Britain, India, States, Bengaluru

The new plant is expected to be built in Somerset, south-west England, while Jaguar Land Rover's UK factories are based near Birmingham, central England. With an initial output of 40 gigawatt hours, Britain said the factory would provide almost half of the battery production needed by 2030. The Faraday Institution has projected UK battery demand to reach over 100 GWh a year by that time. "With this strategic investment, the Tata Group further strengthens its commitment to the UK," Tata Sons Chairman N Chandrasekaran said in the statement. "Almost every car producing nation in the world (is) offering a lot of incentives in order to ensure that they preserve the integrity of their car industry," he said.

Persons: Danish Siddiqui, Rishi Sunak's, Sunak, N Chandrasekaran, Mike Hawes, Andy Palmer, Aston Martin, Jeremy Hunt, wouldn't, Alistair Smout, Sarah Young, William James, Paul Sandle, Emma Rumney Organizations: Tata Motors, REUTERS, Danish, India's Tata Group, Rover, Tata, BBC, European Union, Nissan, Rover's, Faraday, Tata Group, EV, BBC Radio, Britain, Thomson Locations: Mumbai, India, Britain, Spain, Somerset, England, Birmingham, United States, Europe, China, EU

☆ UK set to secure commitment from Tata's JLR for new EV battery plant - Bloomberg
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 18 (Reuters) - Britain is set to secure a commitment from Tata's Jaguar Land Rover to build a battery plant in southwest England to supply a new range of electric Jaguar and Land Rover vehicles, Bloomberg reported on Tuesday. India's Tata has chosen a site in Somerset, the Bloomberg report said, citing people familiar with the plans. The company is set to outline its decision as soon as this week, the report added. A government spokesperson said there was no update on any timelines for an announcement. Reporting by Muvija M and Alistair Smout; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

Persons: India's Tata, Tata, Rishi Sunak's, Muvija M, Alistair Smout, William James Our Organizations: Rover, Bloomberg, Britain, Thomson Locations: Britain, England, Somerset, Spain

☆ JLR taps Everstream Analytics' AI to dodge supply chain problems
▼ + stars: | 2023-06-18 | by ( Nick Carey | ) www.reuters.com time to read: +1 min

LONDON, June 19 (Reuters) - JLR said on Monday it has partnered with supply chain mapping and risk analytics firm Everstream Analytics, which will embed artificial intelligence into the British luxury carmaker's system to help avert future global supply issues. The new AI technology, JLR said, will allow it to monitor its supply chain in real-time and protect the production of its current models and next generation of electric vehicles (EVs). JLR, a unit of India's Tata Motors (TAMO.NS) said Everstream's technology has already enabled it to avoid disruption at global freight ports to deliver vehicles to clients. In a post-pandemic world full of supply chain snarls, a growing group of startups and established logistics firms have created a multi-billion dollar industry to apply AI and machine learning to help businesses minimise disruption. JLR was hit particularly hard by a global shortage of semiconductor chips that forced major carmakers to curtail production of certain models.

Persons: JLR, Barbara Bergmeier, Nick Carey, Barbara Lewis Organizations: India's Tata Motors, Everstream, Thomson

☆ Jaguar Land Rover recalling I-PACE vehicles in US over fire risks
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, May 31 (Reuters) - Jaguar Land Rover (JLR) said it is recalling nearly 6,400 I-PACE vehicles in the United States due to fire risks because the high-voltage electric vehicle battery may overheat. JLR, which is owned by India's Tata Motors (TAMO.NS), said the battery energy control module software will be updated and battery modules will be replaced as necessary in certain 2019 through 2024 model year vehicles. The automaker has reports of eight U.S. vehicle fires but no accidents or injuries. Reporting by David Shepardson; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: India's Tata, David Shepardson, Jason Neely Organizations: Rover, PACE, India's, India's Tata Motors, Thomson Locations: United States

☆ Jaguar Land Rover plans to invest 15 bln pounds in electric push
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: 1 min

April 19 (Reuters) - British luxury carmaker Jaguar Land Rover (JLR) on Wednesday said it plans to invest 15 billion pounds ($18.65 billion) over the next five years to expand its electric-vehicle offerings. JLR, which is owned by India's Tata Motors (TAMO.NS), added that its Halewood plant in Merseyside, UK, will become an all-electric manufacturing facility. ($1 = 0.8042 pounds)Reporting by Chandini Monnappa in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ India's Tata Motors jumps to a 7-month high on strong Q4 JLR sales
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

Tata Motors's shares were the top gainer on India's bluechip Nifty 50 index (.NSEI), which was up 0.33%, and pushed the auto index (.NIFTYAUTO) up 1.16%. Tata Motors' global wholesales rose 8% in the quarter. JLR's sales contribute nearly 60% of Tata Motors's revenue from operations and the British automaker's strong sales in the October-December quarter had lifted the group to its first profit in two years. "The market is underestimating JLR's EBIT (earnings before interest and tax) margin potential from upcoming phase of wholesale volumes," Goldman Sachs said in a note. Tata Motors's stock hit a high of 473.30 rupees on the day, before giving up some gains to trade up about 6% at 463.75 rupees in early afternoon trading.

☆ Auto, realty stocks power Indian shares ahead of March quarter earnings
▼ + stars: | 2023-04-10 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, April 10 (Reuters) - Indian shares advanced on Monday, aided by auto and realty stocks following strong quarterly business updates, but rising odds of a U.S. Federal Reserve rate hike in May capped gains. The Nifty 50 (.NSEI) rose 0.28% at 17,647.70, as of 9:51 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.24% to 59,975.11. Ten of the 13 major sectoral indexes advanced, with auto stocks (.NIFTYAUTO) rising over 1%. Wall Street equities rose on Thursday in a truncated week, ahead of U.S. jobs data, which was released on Friday. The market is pricing in 68.3% chance of a 25 basis point rate hike in May, up from 49.2% on Thursday, according to CME's FedWatch Tool.

☆ Jaguar Land Rover opens three European self-driving tech hubs
▼ + stars: | 2023-02-21 | by ( Nick Carey | ) www.reuters.com time to read: +1 min

[1/2] Jaguar Land Rover unveils the new Jaguar F-Type model during its world premiere in Munich, Germany, December 2, 2019. REUTERS/Michaela RehleLONDON, Feb 21 (Reuters) - Luxury carmaker Jaguar Land Rover said on Tuesday it is opening three new engineering hubs in Europe to develop autonomous vehicle technologies as part of its partnership with Silicon Valley artificial intelligence company Nvidia (NVDA.O). The hubs in Munich, Bologna and Madrid will develop self-driving systems for JLR's next generation of luxury vehicles. JLR already has six global tech hubs the United States, China and Europe. The partnership with Nvidia gives JLR a well-funded ally as it tries to catch up with Tesla Inc (TSLA.O) and other luxury vehicle rivals in a digital technology arms race.

☆ India's Tata Motors surges 8% on first quarterly profit in 2 years
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 27 (Reuters) - Shares of Tata Motors Ltd (TAMO.NS), India's No.3 carmaker by volume, rose as much as 8.2% to a more-than-four-month high on Friday after the company reported its first quarterly profit in two years. Tata Motors swung to a surprise profit of 29.58 billion rupees in the October-December quarter, from a loss of 15.16 billion rupees a year before. Improving semiconductor supplies and rising demand helped Tata Motors' luxury car unit, Jaguar Land Rover (JLR), turn profitable. Goldman rates Tata Motors' stock "neutral", while Nomura rates it "buy", which is also the average rating of the 30 analyst covering the stock, according to Refinitiv data. Bajaj Auto Ltd (BAJA.NS), among India's top motorcycles and three-wheelers maker, also reported a bigger-than-expected quarterly profit due to strong domestic demand and higher prices.

☆ India's Tata Motors jumps 6% on first quarterly profit in 2 years
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, Jan 27 (Reuters) - Shares of Indian Tata Motors Ltd (TAMO.NS) rose as much as 6% on Monday after the carmaker reported its first quarterly profit in two years on the back of strong demand and as its luxury car unit, Jaguar Land Rover (JLR), turned profitable. Reporting by Nandan Mandayam in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Adani Group fallout drags Indian shares to 3-month low
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 27 (Reuters) - Indian shares fell more than 1% to a three-month low on Friday, as banks continued to lead the market lower along with Adani Group companies in the wake of a short-seller attack on the conglomerate. He said the hammering of Adani Group stocks has upset investor sentiment and created a crisis of confidence. Adani Ports (APSE.NS) and Adani Enterprises (ADEL.NS) were the top losers on the Nifty 50 on Friday, ahead of the latter's $2.45 billion follow-on public offering (FPO). The heavyweight financials sector (.NIFTYFIN) again led the slide, falling more than 2% even though brokerages said banks' exposure to the Adani Group was within manageable limits. The drop in Indian stocks was in contrast to their Asian peers, which hit a near nine-month-high after strong U.S. economic growth data eased recession worries.

BENGALURU, Jan 25 (Reuters) - Indian carmaker Tata Motors (TAMO.NS) beat analysts' expectations to post a profit for the first time in two years as improving semiconductor chip supplies and rising demand helped its luxury car unit Jaguar Land Rover (JLR) turn profitable. Like others in the sector, Tata Motors and JLR have been struggling to navigate supply chain disruptions and shortages of critical semiconductor components since the onset of the coronavirus pandemic. The total number of orders reached a record 215,000 units with its three most profitable models - the New Range Rover, Range Rover Sport and Defender - accounting for three-quarters of the order book. [1/5] A member of staff works on the production line at Jaguar Land Rover’s factory in Solihull, Britain, December 15, 2022. Analysts, on average, had expected a loss of 185.6 million rupees, according to Refinitiv IBES data.

☆ Carmaker Jaguar Land Rover looks to hire hundreds of laid off tech workers
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 18 (Reuters) - Laid off tech industry workers in Britain could find a new home at Jaguar Land Rover (JLR), as the 100-year-old luxury carmaker looks to hire hundreds of engineers to help develop electric car technology. The carmaker, which wants to become an "electric-first" business from 2025, on Friday announced a jobs portal for displaced tech workers to fill 800 roles spanning self-driving, electrification, machine learning and data science. The hiring drive comes after thousands of layoffs in recent weeks at U.S. tech firms including Twitter, Meta (META.O) and Amazon, some of which have offices in London and Dublin, Ireland. JLR last year announced an electrification strategy under which all Jaguar cars would be fully electric by 2024 and an electric option would be offered across its entire portfolio including Land Rover. Reporting by Sachin Ravikumar Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Jaguar Land Rover’s CEO, Thierry Bolloré, Steps Down
▼ + stars: | 2022-11-16 | by ( William Boston | ) www.wsj.com time to read: 1 min

Thierry Bolloré has worked to hone Jaguar Land Rover’s car models and accelerate the electrification of core models such as the Range Rover, Discovery and Defender. BERLIN—Jaguar Land Rover Automotive PLC Chief Executive Thierry Bolloré is stepping down at the end of the year for what the company said were personal reasons. His departure comes as the company struggles to improve sales and earnings after taking a hard hit during the pandemic. A former CEO of French car maker Renault SA, Mr. Bolloré was hired in 2020 and has been working to refocus JLR onto electric vehicles.

☆ Jaguar Land Rover’s CEO, Thierry Bolloré, Stepping Down
▼ + stars: | 2022-11-16 | by ( William Boston | ) www.wsj.com time to read: 1 min

Thierry Bolloré has worked to accelerate the electrification of core Jaguar Land Rover models such as the Range Rover, Discovery and Defender. BERLIN—Jaguar Land Rover Automotive PLC Chief Executive Thierry Bolloré is stepping down at the end of the year for what the company said were personal reasons. His departure comes as the company struggles to improve sales and earnings after taking a hard hit during the pandemic. A former CEO of French car maker Renault SA, Mr. Bolloré was hired in 2020 and has been working to refocus JLR onto electric vehicles.

☆ Tata Motors' JLR says CEO Bollore to resign
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Nov 16 (Reuters) - Tata Motors (TAMO.NS)-owned luxury carmaker Jaguar Land Rover said on Wednesday Chief Executive Officer Thierry Bollore would resign due to personal reasons after more than two years in the role. Adrian Mardell will take over as CEO on an interim basis, JLR said. A 32-year JLR veteran, Mardell is currently a member of the company's executive board. JLR said earlier this month its second-quarter loss before tax narrowed to 173 million pounds ($206.06 million), while revenue rose 36% from a year earlier. The division's performance is key to India's Tata Motors as it contributes nearly 60% to the group's revenue from operations.

☆ Tata Motors falls as core earnings fail to impress
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

Tata Motors posted a narrowed net loss for the July-September quarter and said its earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 53% year-over-year. However, brokerage Jefferies said the company's EBITDA came in 14% below its estimate, while Emkay Research and Motilal Oswal also said the number missed their estimates. "Tata Motors' performance was an all-around miss," Motilal Oswal analyst Jinesh Gandhi wrote in a note. Tata Motors stock was last down 4.4% at 414.25 rupees and was the biggest loser on India's benchmark Nifty 50 index (.NSEI), which is down 0.7%. Through the last close, Tata Motors shares had shed a tenth of their value, while the Nifty 50 index had gained around 4%.

☆ Jaguar Land Rover sets out to train workers, dealers for EV world
▼ + stars: | 2022-09-27 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

The shift to EVs means carmakers need to provide fresh skills to workers trained to make and service fossil-fuel models. EV sales have risen sharply in Europe over the last two years and looming fossil-fuel car bans mean more are coming. JLR's luxury Jaguar brand will be entirely electric by 2025 and the carmaker will launch electric versions of its entire line-up by 2030. JLR has developed its own training materials in cooperation with the University of Coventry and the University of Warwick. "Plant employees at all levels will require training to ensure they can work safely alongside the high voltage systems," JLR said.

Search resuls for: "JLR"

21 mentions found