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[1/2] Manufacturing equipment is seen during a tour of Foxconn's electric vehicle production facility in Lordstown, Ohio, U.S. November 30, 2022. The Domestic Manufacturing Conversion Grants for EVs program will provide cost-shared grants for making efficient hybrid, plug-in electric hybrid, fully electric, and fuel cell vehicles. The Department of Energy's Vehicle Technologies Office said the program will prioritize projects that refurbish or retool manufacturing plants that have recently stopped operations or were expected to close soon. The Biden administration, as part of its goal of decarbonizing the economy by 2050, is pushing the U.S. auto industry to accelerate a transition to EVs. The Alliance for Automotive Innovation, which represents General Motors (GM.N), Stellantis NV (STLAM.MI), Toyota Motor (7203.T) and others, on Wednesday called the EPA proposal a "de facto battery electric vehicle mandate" that was "neither reasonable nor achievable."

Persons: Quinn Glabicki, Joe Biden's, Biden, Shawn Fain, Stellantis, Timothy Gardner, Joe White, David Shepardson, David Gregorio, Grant McCool Organizations: REUTERS, WASHINGTON, United Auto Workers, UAW, Energy's Vehicle Technologies, Lordstown, Environmental Protection Agency, Alliance, Automotive Innovation, General Motors, Stellantis, Toyota, Energy Department, Thomson Locations: Lordstown , Ohio, U.S, DETROIT, Ohio, Michigan , Ohio , Illinois, Indiana, Belvidere , Illinois, Washington, Detroit

☆ Auto industry seeks to soften Biden vehicle emissions proposal
▼ + stars: | 2023-06-28 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

June 28 (Reuters) - The trade group representing nearly all major automakers wants the U.S. Environmental Protection Agency to soften its proposal to sharply cut vehicle emissions through 2032 saying it is "neither reasonable nor achievable." The EPA, which declined to comment immediately, said the proposed 2027-2032 standards would cut emissions by 56% compared to the existing 2026 requirements. The group called the proposal a "de facto battery electric vehicle mandate." The group said the EPA proposal "substantially underestimates the cost of batteries while overestimating the availability of consumer and manufacturing tax credits." Environmentalists are pressing the Biden administration not to soften the proposal.

Persons: Joe Biden's, Biden, David Shepardson, Howard Goller Organizations: . Environmental Protection Agency, Alliance, Automotive Innovation, General Motors, Volkswagen, Toyota, EPA, Thomson

☆ Volkswagen shares recover after EV production cut reports
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - Shares in Volkswagen (VOWG_p.DE) inched higher on Wednesday, recovering slightly from a selloff the day before when the automaker played down reports it will cut EV output in Germany over the next two weeks because of lower than expected demand. Volkswagen "expects the trend in BEV (battery electric vehicle) orders, which already improved in May, to gradually stabilise in the coming months," spokesperson Christopher Hauss told Reuters. Following reports by news agency dpa-AFX of a production cut, Volkswagen shares fell 2% on Tuesday. However, some analysts said the reported production cut indicates the European EV market is not growing fast enough to support all the new EV models and planned extra capacity. "Our EV forecasts for Ford (F.N) and GM (GM.N) are a fraction of management targets by mid-decade", analysts at the investment bank say.

Persons: Christopher Hauss, Hauss, Volkswagen's, Daniel Schwarz, Morgan Stanley, Paolo Laudani, Barbara Lewis Organizations: Volkswagen, Reuters, EV, VW, Ford, GM, Thomson Locations: Germany, Emden

[1/3] A Lucid Air electric vehicle is displayed in Scottsdale, Arizona, U.S., September 27, 2021. REUTERS/Hyunjoo Jin/File PhotoJune 26 (Reuters) - British luxury carmaker Aston Martin (AML.L) has reached a deal that will give U.S. electric vehicle (EV) maker Lucid Group (LCID.O) a 3.7% stake in the company in return for access to its "high performance" technology, Aston Martin said on Monday. Subject to shareholder approval, Aston Martin will issue about 28.4 million new ordinary shares to Lucid Group. Smaller carmakers such as Aston Martin are more reliant on partnerships to make the transition. Lucid and Aston Martin have a common shareholder in Saudi Arabia's Public Investment Fund (PIF).

Persons: Hyunjoo Jin, Aston Martin, Lucid, Aston Martin's, PIF, Aby Jose Koilparambil, Rashmi Aich, Barbara Lewis Organizations: REUTERS, Lucid, Mercedes, Benz, Aston, Public Investment Fund, U.S, Tesla Inc, Thomson Locations: Scottsdale , Arizona, U.S, Aston Martin, Saudi, Bengaluru

☆ Quality of new vehicles in US declining on more tech use, study shows
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

Build quality of certain parts such as audio systems and cup-holders have resulted in quality issues, the report said, which collected data from 93,380 purchasers and lessees of 2023 model-year vehicles. Problems per 100 vehicles (PP100) rose 30 PP100 during the past two years, the report said. A lower score reflects higher vehicle quality. The wide range of quality problems in the automotive industry is "a phenomenon not seen in the 37-year history of the Initial Quality Study", said J.D Power's senior director of auto benchmarking Frank Hanley. Dodge ranked the highest overall in terms of initial quality, while Chrysler and Volvo were jointly ranked lowest, according to J.D.

Persons: Bing Guan, J.D Power's, Frank Hanley, Hanley, Nathan Gomes, Shilpi Majumdar Organizations: Tesla Inc, Dodge, Chrysler, Volvo, Thomson Locations: United States, Carson , California, U.S, Bengaluru

The total tax breaks will amount to 520 billion yuan, Vice Minister of Finance Xu Hongcai said at a press conference. The announcement follows a June 2 Cabinet meeting during which authorities said they would extend and optimise the tax exemption and study policies to promote NEV development. Analysts said the cap on the purchase tax exemption would help drive growth of cheaper models that are mainly produced by domestic firms rather than premium vehicles from foreign makers. NEV sales rose 10.5% in May from a month earlier, showed data from the China Passenger Car Association. The tax break was announced in 2014 and extended in 2017, 2020 and 2022.

Persons: Finance Xu Hongcai, Cui Dongshu, Li Auto, Warren, Berkshire Hathaway, Susan Zou, Qiaoyi Li, Liz Lee, Siyi Liu, Donny Kwok, Miyoung Kim, Christopher Cushing Organizations: China, Auto, Ministry of Finance, Finance, China Passenger Car Association, EV, HK, Reuters, Berkshire, Volkswagen, Analysts, Tesla, Rystad Energy, Thomson Locations: BEIJING, SHANGHAI, China, BYD, Beijing, Hong Kong

The total tax breaks will amount to 520 billion yuan, Vice Minister of Finance Xu Hongcai said at a press conference. The announcement follows a June 2 Cabinet meeting during which authorities said they would extend and optimise the tax exemption and study policies to promote NEV development. The tax break was announced in 2014 and extended in 2017, 2020 and 2022. NEV sales rose 10.5% in May from a month earlier, showed data from the China Passenger Car Association. They jumped 60.9% from a year earlier when COVID-19 curbs still roiled auto production and sales.

Persons: Finance Xu Hongcai, Cui Dongshu, Li Auto, Susan Zou, Qiaoyi Li, Liz Lee, Siyi Liu, Donny Kwok, Miyoung Kim, Christopher Cushing Organizations: China, Auto, Ministry of Finance, Finance, China Passenger Car Association, EV, HK, Reuters, Tesla, Rystad Energy, Thomson Locations: BEIJING, SHANGHAI, China, BYD, Beijing, Hong Kong

☆ Tesla urges EPA to finalize tougher US heavy-duty emissions cuts
▼ + stars: | 2023-06-21 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Companies Tesla Inc FollowWASHINGTON, June 20 (Reuters) - Tesla (TSLA.O) urged the Biden administration to finalize significantly stricter heavy-duty emissions limits than proposed in April, arguing larger vehicles were being electrified much faster than envisioned and would lead to bigger pollution cuts. EPA should "actively embrace a more rapid transition to (battery electric vehicles)" adding "the time for doing so is now," Tesla said. Tesla cited its Tesla Semi production in making the case for tougher emissions rules, noting it anticipates production levels of a Class 8 Day Cab tractor at 50,000 per year with significant production volumes beginning in late 2024. Tesla submitted its Semi heavy-duty production plans through 2030 to EPA but did not make them public. This means Tesla’s production goal alone would far exceed the 5% EV sales deployment EPA anticipates in 2027," Tesla wrote, noting other companies are planning to build heavy-duty EVs.

Persons: Biden, Tesla, Elon Musk, David Shepardson, Chris Reese, Matthew Lewis, Sonali Paul Organizations: Tesla, WASHINGTON, EPA, Act, Analysts, American Trucking Associations, Thomson Locations: Washington

☆ Stellantis to reveal its first Europe-made affordable electric vehicle
▼ + stars: | 2023-06-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Stellantis, the third-largest carmaker in the world by revenue, will reveal its first European-made, affordable electric car in mid-October. The new Citroën e-C3 model will have a 320-kilometre range and a 57-minute "fast charge" capability, Citroën says. The company aims to have a total of 47 battery electric vehicles on the market by the end of 2024, the May press release said. Sales of Stellantis' battery electric vehicles were up 22% year-on-year in the first quarter of 2023, the company reported. Shares of Stellantis were up 0.2% when markets opened at 8.00 a.m. London time Friday.

Persons: Stellantis, Citroën Locations: London

☆ Stocks making the biggest moves midday: Logitech, Toyota, UnitedHealth, AMD and more
▼ + stars: | 2023-06-14 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Logitech — Shares tumbled 12.3% after the company announced president and CEO Bracken Darrell is departing. Toyota — The Japan-based automaker's shares gained 4.5% Wednesday. Lumen Technologies — The telecommunications stock gained 6% during midday trading Wednesday, adding to the 16% advance that was made Tuesday. Earlier in the week, the company announced a new partnership with electric vehicle software charging company ev.energy. Advanced Micro Devices — The chip stock gained nearly 2% in midday trading, a day after the company announced its latest artificial intelligence chips.

Persons: Bracken Darrell, UnitedHealth — UnitedHealth, John Franklin Rex, Akio Toyoda, Lumen, Roth MKM, Goldman Sachs, Bernstein, Bud, Raymond James, Buster's, Cinemark, Riley, Li Auto, Morgan Stanley, Wolfe, it's bullish, Gordon Haskett, SVB, — SoFi, Estée Lauder —, — CNBC's Michelle Fox, Yun Li, Sarah Min, Hakyung Kim Organizations: Logitech, Swiss Federal Institute of Technology of, Citi, Goldman, Global Healthcare, Toyota, Lumen Technologies, Google, Microsoft, Maxeon, Technologies, Reuters, Services, AMD, Anheuser, Busch InBev —, Netflix, Wolfe Research, Barclays, SVB Securities, Berenberg Locations: Swiss Federal Institute of Technology of Lausanne, Lausanne, Switzerland, Japan, Latin America

TOKYO, June 13 (Reuters) - Toyota (7203.T) faces an unprecedented challenge at its annual shareholder meeting on Wednesday, with some pension funds voting against Chairman Akio Toyoda on governance issues, while seeking more disclosures on the Japanese automaker's climate lobbying. Two prominent U.S. proxy advisers have flagged concern about Toyota's board independence. The step comes as companies across Japan face more pressure from investors, especially on environmental, social and governance (ESG) issues. The strong financial performance has meant concerns about board independence have largely been shrugged off, said Kazunori Suzuki of Waseda Business School. He enjoys strong support from individual investors and the many suppliers and Toyota group companies among its shareholders.

Persons: Akio Toyoda, Toyoda, Kentaro Shibata, Kazunori Suzuki, Anders Schelde, Denmark's, AkademikerPension, AkademikerPension's Schelde, Nicholas Benes, Benes, that's, Makiko Yamazaki, Maki Shiraki, Daniel Leussink, David Dolan, William Mallard, Clarence Fernandez Organizations: Toyota, Nikkei, Waseda Business School, Tokyo, Exchange, Services, International Paralympic Committee, Sumitomo Mitsui Financial Group, Training, of Japan, Nissan, Honda, Reuters, Thomson Locations: TOKYO, New York, Japan, Toyota

☆ Toyota shares surge 5% after announcing plans for next-gen battery EVs
▼ + stars: | 2023-06-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

In this article 7203.T-JP Follow your favorite stocks CREATE FREE ACCOUNTA display of Toyota electrified vehicles at the 2022 New York Auto Show, April 13, 2022. Toyota has a goal of achieving sales of 1.5 million all-electric vehicles per year by 2026, and selling 3.5 million all-electric vehicles annually by 2030. Separately, the company is also developing a method for mass producing all-solid-state batteries for battery electric vehicles, and aims to commercialize this in 2027 to 2028. Toyota said it will be looking at a 20% improvement in cruising range for its all-solid-state batteries, compared to the current batteries. HEVs refer to hybrid electric vehicles, which are vehicles that are powered by a conventional internal combustion engine in combination with one or more electric motors.

Persons: Scott Mlyn, Koji Sato, Sato, Akio Toyoda Organizations: Toyota, York Auto Show, CNBC, Tesla, Nikkei

☆ Toyota's April global sales rise on stronger demand in Japan, China
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +1 min

Companies Toyota Motor Corp FollowTOKYO, May 30 (Reuters) - Toyota Motor Corp's (7203.T) global sales rose by nearly 5% in April from a year earlier, boosted by stronger demand for hybrids and gasoline-powered cars in Japan and China. The Japanese automaker also reported better overseas sales of battery electric vehicles (EVs), bringing the total number of battery-powered units it sold in the first four months of the year above last year's level. In China, Toyota saw sales jump 46.3% to 162,554 units in April compared to the same month a year earlier, rebounding from the previous year's pandemic-related hit. In April, the automaker sold 8,584 battery EVs worldwide, including its Lexus brand, accounting for more than 1% of its global sales in a single month for the first time. That brought the total number of battery-powered vehicles it sold in January-April to 26,057 units, higher than the 24,466 battery EVs the company sold in 2022.

TOKYO, May 28 (Reuters) - Proxy adviser Institutional Shareholder Services (ISS) has recommended that shareholders of Toyota Motor Corp (7203.T) vote in favour of a resolution urging the automaker to improve disclosure of its lobbying related to climate change. ISS in a report also said it regarded three of Toyota's four outside board director nominees as not truly independent. Toyota's board said the fluidity of such disclosure made the proposal unsuitable for enshrining in the articles of incorporation. A spokesperson previously said few firms globally have made climate policy engagement-related disclosure to the extent of Toyota. "Toyota does not provide shareholders with enough information to evaluate its lobbying activities," ISS said.

[1/2] A Tesla vehicle is charged at a Tesla supercharging station in Kettleman City, California, U.S., January 25, 2023. REUTERS/Mike Blake/File PhotoMay 26 (Reuters) - Ford Motor Co (F.N) shares jumped by more than 7% on Friday after the No. 2 U.S. automaker announced a deal allowing its electric-vehicle owners to access rival Tesla Inc's (TSLA.O) charging stations in North America. Ford shares were up 7.6% at $12.25 in afternoon trade, while Tesla shares rose 7.5% to $197.95. U.S. Transportation Secretary Pete Buttigieg praised the Ford-Tesla deal, but told CNBC that the Biden administration would not dictate an EV charging standard.

☆ What to know about buying a used electric vehicle as more hit the auto sales market
▼ + stars: | 2023-05-21 | by ( Joe D'Allegro | ) www.cnbc.com time to read: +6 min

Electric vehicle sales keep growing, too. As recently as 2021, total battery-powered electric vehicle sales in the U.S. were under 450,000, but Kelley Blue Book says sales surpassed 800,000 in 2022 and are expected to top one million this year. While the used EV market is still very small, the growth trajectory of EV sales means shopping for a used electric vehicle will become more common and get easier over time, and encompass more make and model choices. In many ways, shopping for a used electric vehicle is the same as looking for any other used car or truck. Electric vehicles lose value faster, but upkeep is lessEVs generally depreciate faster than ICE vehicles, according to Kelley Blue Book.

☆ Elon Musk's quest for an irresistible price could spell trouble for Tesla and its stock
▼ + stars: | 2023-05-21 | by ( Brian Evans | ) www.cnbc.com time to read: +11 min

Its goal has been to coax consumers to make the leap to its brand with the lower prices. Finding an 'irresistible' price Tesla's price cuts are an effort to take advantage of that growing market. "We have written extensively on the drag EVs have on margins for legacy [original equipment manufacturers] and the impact of EV price deflation. She added that the price cuts are an effort for Tesla to retain market dominance and stave off competition from big competitors like Ford. Longer term, Tesla's price fluctuations could do more harm than good if they end up turning consumers off.

☆ The Chinese EV market is exploding. Here are the 5 major Chinese EV brands you should know about.
▼ + stars: | 2023-05-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

The Asian giant's EV edge is thanks to its push for clean energy technology, including in the transportation sector. "Having recognized the potential of electric vehicles 15 years ago, China has since invested vast resources in building a competitive electric vehicle ecosystem," said Allianz in its report. Chinese EV makers hold a competitive edge in "nearly all aspects" of the battery electric vehicle value chain, per Allianz. And now, industry experts tell Insider's Nora Naughton and Tim Levin that affordable Chinese EV cars are set to arrive in the competitive American market. Given China's increasing foray into the global EV market, here are 5 major Chinese EV brands to know.

☆ Not enough resources for EVs to be only cleaner car option, Toyota says
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

Some investors and environmental groups have long criticised Toyota (7203.T) for being slow to embrace BEVs, saying it has lagged Tesla Inc (TSLA.O) and others amid growing global demand. Gill Pratt, chief executive of the Toyota Research Institute, told reporters that BEVs could make a positive difference in reducing climate change in countries such as Norway, which has a lot of renewable infrastructure. But in other parts of the world, where coal is still used to produce power, hybrids were better for CO2 emissions, he added. "But it's going to take decades for battery material mines, renewable power generation, transmission lines and seasonal energy-storage facilities to scale up." BEVs are "one very important option" for achieving carbon neutrality and hydrogen is as well, Toyoda, who currently is chairman of Toyota, told reporters earlier on Thursday.

☆ Toyota, partners to start selling electric micro-vans by March 2024
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

TOKYO, May 18 (Reuters) - Toyota Motor Corp (7203.T) and two allied automakers unveiled a micro-sized electric van targeted at Japan's delivery industry on the sidelines of the Group of Seven (G7) summit in Hiroshima on Thursday. The small electric commercial van will run on a battery electric vehicle (BEV) system that Toyota is jointly developing with minivehicle specialists Daihatsu and Suzuki Motor Corp (7269.T), the companies said in a joint statement. The roll-out by Toyota, which owns 4.89% of Suzuki, and its partners also comes as other automakers in Japan are expanding their lineups with electric mini-commercial vans. Honda Motor Co Ltd (7267.T) said in December it would start selling a micro-sized commercial electric van with a target cruising range of 200km in spring 2024, as part of its effort to electrify its vehicle lineup. Mitsubishi Motors Corp (7211.T) in November re-launched its own small commercial van, Minicab-MiEV, which has a shorter cruising range of 133 km.

☆ US consumers keep vehicles for a record 12.5 years on average -S&P
▼ + stars: | 2023-05-15 | by ( Paul Lienert | ) www.reuters.com time to read: +1 min

May 15 (Reuters) - Americans in the waning days of the COVID pandemic are keeping their combustion-engine vehicles longer, according to a new study. Despite six straight years of increases, average vehicle age is expected to drop over the coming year as rising availability and renewed demand push new vehicle sales above 14.5 million in 2023, the S&P research said. Electric vehicles are bucking the aging trend, according to S&P. The average age of battery electric vehicles (BEV) in the U.S. actually fell to 3.6 years, down slightly from 3.7 years in 2022. During the same period, just 5.2% of combustion vehicles left the fleet, S&P said.

Toyota's board on Wednesday recommended that shareholders vote against the resolution, to be put to the company's annual general meeting in June. On Wednesday Toyota said it expects a five-fold jump in pure electric vehicle (EV) sales this business year. "We need concrete policy changes and a better annual review drawing on independent data to calm international investors." LONG ENGAGEMENTIt will be the first time that Toyota faces such a climate-related resolution at its annual general meeting, the funds said. It first planned to submit a shareholder proposal in 2021, but withdrew that after it received assurances that Toyota would review its climate lobbying.

☆ Ford to test small UK fleet of hydrogen fuel cell E-Transit vans
▼ + stars: | 2023-05-09 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

LONDON, May 9 (Reuters) - Ford Motor Co (F.N) said on Tuesday it will test a small fleet of prototype hydrogen fuel-cell versions of its electric E-Transit model to see if they are a workable zero-emission option for customers hauling heavy goods long distances. Ford will lead a consortium in the three-year project that includes BP (BP.L), which will focus on hydrogen and infrastructure, and British online supermarket and technology group Ocado (OCDO.L). Interest in using hydrogen fuel cells to power trucks and vans is getting a boost from fleet operators looking for a more practical alternative to electric vehicles and rising government aid, particularly the U.S. Inflation Reduction Act (IRA). Vehicles with hydrogen fuel cells, in which hydrogen mixes with oxygen to produce water and energy to power a battery, can refuel in minutes and have a much longer range than those with BEVs. But there are major challenges to be overcome for mass adoption of hydrogen fuel cells, including the lack of fueling stations and green hydrogen made using renewable energy to power them.

☆ Auto giants are setting their sights on a new growth market for EVs: India
▼ + stars: | 2023-05-04 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +3 min

When it comes to electric cars, however, the country is playing a game of catch up. During a recent interview with CNBC's Charlotte Reed, Thierry Koskas accepted that the market in India was "just starting." Citroën India, which launched the fully electric ë-C3 in Feb. 2023, is not alone when it comes to making a move in India's nascent electric car sector. According to the IEA, Tata was responsible for more than 85% of battery electric vehicle sales within India last year. Other Indian firms jostling for position in the sector include Mahindra and Mahindra and Ola Electric.

☆ Volkswagen posts drop in quarterly profit, says it must speed up to catch Chinese EV market rivals
▼ + stars: | 2023-05-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

First-quarter sales revenue rose by 22% to 76 billion euros, Volkswagen said, primarily driven by a recovery in sales volumes in Europe and North America. Volkswagen said operating profit fell 31% to 5.7 billion euros ($6.3 billion) through the first three months of 2023, down from 8.3 billion euros over the same period last year. Europe's biggest carmaker said operating profit before valuation effects from commodity hedging, however, increased by 35% to 7.1 billion euros. First-quarter sales revenue rose by 22% to 76 billion euros, Volkswagen said, primarily driven by a recovery in sales volumes in Europe and North America. Asked about the sliding first-quarter sales in China, Volkswagen's replied Antlitz, "We had a slow start in China."

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