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☆ Porsche to integrate Google Maps, Assistance into future cars
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

A Porsche logo is seen on a vehicle displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Angelika Warmuth Acquire Licensing RightsBERLIN, Oct 30 (Reuters) - Porsche (P911_p.DE) will integrate Google Maps, Google Assistance and other apps from Google Play (GOOGL.O) into its future cars, it said on Monday. Porsche said in January it was considering fully integrating Google software into its car cockpit, following the end of its cooperation with Volkswagen's Cariad unit on software research and development. Carmakers including General Motors, Renault, Nissan and Ford use embedded Google technology in their vehicles via a Google Automotive Services (GAS) package, offering features like Google Maps, Google Assistant and other applications. Reporting by Victoria Waldersee; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Angelika Warmuth, Porsche, Volkswagen's, Victoria Waldersee, Matthias Williams Organizations: REUTERS, Rights, Porsche, Google, General Motors, Renault, Nissan, Ford, Google Automotive Services, Thomson Locations: Munich, Germany

☆ Volkswagen plans job cuts, further launch delays at software unit -manager magazin
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +2 min

Volkswagen logo is pictured at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsBERLIN, Oct 27 (Reuters) - Volkswagen (VOWG_p.DE) wants to cut 2,000 jobs at its troubled software unit Cariad as part of a restructuring plan which will see its long-awaited new software architectures delayed even further, news outlet manager magazin reported on Friday. There is no concrete information on where positions should be cut in terms of structure and tasks," a Volkswagen works council spokesperson said. A Cariad spokesperson declined to comment on the article, but said Cariad CEO Peter Bosch has been working on a "comprehensive transformation plan" for "repositioning" the company since the summer. Volkswagen appointed Bosch, formerly Bentley production chief, as head of the unit earlier this year in an effort to get Cariad back on track.

Persons: Brendan McDermid, magazin, Peter Bosch, Herbert Diess, Miranda Murray, Friederike Heine, Kirsten Donovan Organizations: New York, REUTERS, Rights, Audi, Porsche, VW, Volkswagen, Bosch, Bentley, Thomson Locations: Manhattan , New York City, U.S

☆ Volkswagen says commodity markets still uncertain after Q3 hedge hit
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsCompanies Volkswagen AG FollowBERLIN, Oct 26 (Reuters) - Europe's largest automaker Volkswagen (VOWG_p.DE) on Thursday warned the outlook for commodity markets remained uncertain after confirming it took a major hit to its third-quarter profit from raw materials hedges. Like many other industrial firms, automakers hedge against commodity price swings, potentially leading to non-cash gains or losses, usually at the end of each quarter. This led to a 2.5 billion euro ($2.64 billion) non-cash loss in the third quarter that it will be unable to offset by the end of the year. "The further development of the commodity markets remains unpredictable," Volkswagen said. Volkswagen on Thursday confirmed it posted 78.8 billion euros in third-quarter sales and a 14% rise in operating profit to 4.9 billion euros.

Persons: Angelika Warmuth, Arno Antlitz, Victoria Waldersee, Nick Carey, Rachel More, Jamie Freed Organizations: Volkswagen, REUTERS, BERLIN, Thomson Locations: Munich, Germany

☆ BMW says diversifying risks does not mean it is leaving China
▼ + stars: | 2023-10-26 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

WUHAN, CHINA - MAY 25: (CHINA OUT) Attendees wear protective masks as they look around the at BMW Ix3 during 2023 Central China International Auto Show on May 25, 2023 in Wuhan, Hubei province, China. More than 80 brands took part in the 2023 Central China International Auto Show which started on Thursday. (Photo by Getty Images)German automaker BMW Group said that diversifying its supply chains away from China does not mean it is leaving the country completely. "Especially the BMW Vision Neue Klasse, it will not be a small volume. BMW is not leaving China, he said, adding that free trade is "fundamental to our business model."

Persons: Oliver Zipse, CNBC's Martin Soong, Annalena Baerbock Organizations: BMW Ix3, China International, Getty Images, BMW Group, BMW, Neue, Japan, Neue Klasse, Tesla Locations: WUHAN, CHINA, Wuhan, Hubei province, China, Germany

☆ Ford’s electric drive is going the wrong way
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Rebecca Cook Acquire Licensing RightsNEW YORK, Oct 26 (Reuters Breakingviews) - Ford Motor (F.N) may have dealt with its labor problem. While the ebb and flow of fossil-fueled fortunes is nothing new, Ford’s electric-car pivot is printing more red ink than ever. But Ford is trying to scale to profitable sales and right now, things are going the wrong way. The company’s electric division recorded a nearly $37,000 operating loss per battery-powered ride sold this quarter, 51% worse than last year. With once sky-high electric prices now free-falling, Ford faces the brass-tacks problem of simply grinding down costs.

Persons: Jim Farley, Rebecca Cook, can’t, nix, Ford, Jonathan Guilford, Lauren Silva Laughlin, Aditya Sriwatsav Organizations: Ford Motor, North American, REUTERS, Reuters, Ford, General Motors, Cox, X, Unilever, Thomson Locations: Detroit , Michigan, U.S, Detroit

☆ Porsche confirms outlook on strong sales in North America, Europe
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Porsche Mission X is displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Angelika Warmuth Acquire Licensing RightsBERLIN, Oct 25 (Reuters) - Porsche AG (P911_p.DE) reported nine-month results in line with its annual forecast on Wednesday as strong demand in North America and Europe compensated for lower China sales. The luxury carmaker reported an 18.3% return on sales with operating profit up 9% to 5.5 billion euros ($5.83 billion), even as it faced added costs of preparing for four upcoming product launches next year. Its 2023 forecast expects a 17-19% return on sales of 40 to 42 billion euros, betting on the resilience of luxury demand even amid high inflation and an uncertain global economy. ($1 = 0.9436 euros)Reporting by Victoria Waldersee, Editing by Friederike Heine and Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Angelika Warmuth, Victoria Waldersee, Friederike Heine, Miranda Murray Organizations: REUTERS, Rights, Porsche AG, Thomson Locations: Munich, Germany, North America, Europe, China

☆ Cars and concepts at the Japan Mobility Show
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: 1 min

Tokyo's auto show is back for the first time in four years and newly rebranded for the electric vehicle era. TOKYO, JAPAN

Locations: TOKYO, JAPAN

☆ Honda, GM scrap $5 bln plan to co-develop cheaper EVs
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +3 min

A Honda logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. GM cited a joint statement that pointed to the projects the companies are still working on together in acknowledging the end of EV plan. A spokesman confirmed she was referring to the Honda EV partnership. The automakers had said the deal was for "affordable" EVs, including compact crossover vehicles, built using GM's Ultium battery technology. "After studying this for a year, we decided that this would be difficult as a business, so at the moment, we are ending development of an affordable EV," Honda CEO Toshihiro Mibe was quoted by Bloomberg as saying in an interview.

Persons: David, Dee, Delgado, Tesla, Honda, Mary Barra, Toshihiro Mibe, Cruise, Daniel Leussink, Gursimran, Ben Klayman, Mark Potter, David Holmes Organizations: New York, REUTERS, Rights, Honda, General Motors, United Auto Workers, U.S, Tuesday, GM, Honda EV, Bloomberg, Cruise, Thomson Locations: Manhattan , New York City, U.S, California, U.S ., . California, Japan, Tokyo, Gursimran Kaur, Bengaluru, Ben, Detroit

It’s a message ringing clear at the Tokyo Mobility Show, which will run through Nov. 5 at Tokyo Big Sight hall and where battery-powered electric vehicles are the star at practically every booth. Toyota Motor Corp.’s lean angular Lexus concept, set to go on sale in 2026, is an electric vehicle running on lithium-ion batteries. That is partly because of Toyota’s past success in hybrids, exemplified in the Prius, which have a gasoline engine in addition to an electric motor. In China, a third of vehicles sold are EVs. Nissan, an early EV maker among the Japanese with its Leaf going on sale in 2010, is showcasing four EV concept cars.

Persons: —, ” Takero Kato, China's BYD, Kato, Tesla, EVs, Joe Biden, BYD, ” Kato, Joshua Cobb, ”, Cobb, Alfonoso Albaisa, ” Albaisa, De Souza, “, John de Souza, ___ Yuri Kageyama Organizations: TOKYO, Toyota, Tokyo Mobility, Mazda Motor Corp, Honda Motor, Toyota Motor Corp, Journalists, General Motors Co, Ford Motor Co, Benz, Subaru, Lexus, International Energy Agency, BMI, SAIC, GM, EV, Nissan, “, Manufacturers, Mitsubishi Fuso, Daimler, Mitsubishi Locations: Tokyo, Japan, U.S, China, San Francisco

Toyota Motor Corporation's cars are seen at a briefing on the company's strategies on battery EVs in Tokyo, Japan December 14, 2021. The Japan Mobility Show, which opens on Thursday, comes at a critical moment for the domestic industry. Toyota (7203.T), the world's top-selling automaker, this year announced a strategic pivot to battery EVs, including plans to commercialise advanced batteries and adopt die-casting technology pioneered by Tesla (TSLA.O). Toyota's shift has helped silence criticism that it was too slow to embrace battery EVs. In contrast to the darkening outlook in Japan, data from the ASEAN Automotive Federation shows that the auto market in Southeast Asia has been growing.

Persons: Kim Kyung, Koji Endo, Daniel Leussink, David Dolan, Jamie Freed Organizations: Toyota, REUTERS, Companies, Japan, Japan Mobility, Tesla, Subaru, Mazda, Mitsubishi Motors, BYD, HK, BMW, Honda, SBI Securities, Nissan, Mitsubishi, Japan Automobile Manufacturers Association, ASEAN Automotive Federation, EV upstarts, Thomson Locations: Tokyo, Japan, TOKYO, China, Southeast Asia, Thailand

☆ Hyundai to build Saudi car plant jointly with Saudi wealth fund
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +1 min

The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsRIYADH, Oct 22 (Reuters) - South Korea's Hyundai Motor Group (005380.KS) will build a car plant in Saudi Arabia jointly with the Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, South Korea's President Yoon Suk Yeol said on Sunday. Hyundai Motor Group, the world's No. Yoon visited Saudi Arabia where he met with Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto ruler. Yoon traveled with a delegation of business leaders including Hyundai Motor Group Executive Chair E.S.

Persons: Andrew Kelly, Yoon Suk Yeol, Yoon, Saudi Crown Prince Mohammed bin Salman, Chung, Prince Mohammed, Pesha Magid, Heekyong Yang, Aziz El Yaakoubi, John Stonestreet, David Holmes Organizations: Hyundai Motor, New York, REUTERS, Rights, Hyundai Motor Group, Public Investment Fund, South, Hyundai, South Korean, Saudi Crown, Thomson Locations: Manhattan , New York City, U.S, Rights RIYADH, KS, Saudi Arabia, Saudi, Riyadh, Gulf

☆ China's led the EV race – but it may be running out of charge
▼ + stars: | 2023-10-22 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisementThere's been a clear winner in the global EV race so far: China. Ford CEO Jim Farley announcing its Michigan EV battery plant in February. Bill Pugliano/Getty ImagesConcern about using Chinese battery technology reflects wider global concern about China's domination of the EV battery market, with governments starting to block Chinese investment into mines and factories. AdvertisementAdvertisementAustralia is the world's biggest producer of lithium, a key material for EV batteries, and a major producer of other rare earths. AdvertisementAdvertisementChina may have led the world in the EV race – but those days could well be numbered.

Persons: —, Bill Russo, Chrysler's, CATL, Ariel Cohen, there's, Shawn Fain, Ford, Jim Farley, Bill Pugliano, Jim Chalmers, Cohen, Morgan Stanley, Mazzocco, Bernstein, he's, Biden, it's, Ursula von der, Donald Trump Organizations: EV, European Union, Service, Economic, Financial, Ford, Council's Eurasia Center, of Foreign Relations, UAW, Reuters, Michigan EV, Minerals, Publishing, Center for Strategic, International Studies, South, Japan's Panasonic, European, Benz, Bloomberg, White Locations: China, America, Europe, South Korea, Michigan, Australia, India, Nanjing, Washington ,, Hungary

☆ Consumers can now find huge discounts on electric cars
▼ + stars: | 2023-10-21 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

CNN —Thanks to growing competition in the market, and some reticence from consumers, automakers and car dealers are offering huge discounts on electric vehicles, particularly luxury models. In September 2022, the average electric vehicle purchased in the United States, excluding Teslas, went for about $1,500 over sticker price. (Remember, for most new vehicles, the manufacturer’s suggested retail price, or sticker price, is just a suggestion, with the final selling price usually higher or lower.) In sheer dollars, the average price paid for a non-Tesla electric vehicle actually went up slightly over the past year. A couple looks at a Volkswagen ID.4 electric vehicle while shopping at a new car dealership.

Persons: Joseph Yoon, Pat Ryan, ” Ryan, Michael Nagle, Tesla, It’s, Yoon, Alison Flores, “, Edmunds, Charles Krupa Organizations: CNN, Edmunds, Nissan, New York, Bloomberg, Getty, Tesla, Teslas, Audi, BMW, Mercedes, Volkswagen, Hyundai, Volvo, Tax, H, AP Locations: Edmunds, United States, That’s

☆ Volkswagen cuts profit outlook on raw material hedges hit
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: 1 min

Volkswagen logo is pictured at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCompanies Volkswagen AG FollowFRANKFURT, Oct 20 (Reuters) - Volkswagen (VOWG_p.DE) on Friday cut its profit outlook for the current year due to negative effects from raw materials hedges at the end of the third quarter, Europe's largest carmaker said. The company said it no longer expected an operating return on sales between 7.5%-8.5%, and that its operating result before special items was now seen at the prior year level of 22.5 billion euros ($23.8 billion). ($1 = 0.9446 euros)Reporting by Christoph Steitz; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Christoph Steitz, Jan Harvey Organizations: New York, REUTERS, FRANKFURT, Thomson Locations: Manhattan , New York City, U.S

DETROIT (AP) — United Auto Workers union President Shawn Fain is expected to update members Friday afternoon on progress in contract talks with Detroit's three automakers as movement was reported with General Motors. The union's strikes at targeted plants at each company began on Sept. 15 and are nearing the start of their sixth week. A person briefed on the talks says the union is exchanging offers with GM and will meet again Friday with the company. The strikes started with one assembly plant from each company after contracts expired at 11:59 p.m. Sept. 14. The union later added the parts warehouses, then one assembly plant each from Ford and GM.

Persons: Shawn Fain, Fain, they’re, Gerald Johnson, ” Johnson, Ford, Stellantis Organizations: DETROIT, United Auto Workers, General Motors, GM, UAW, Ford, Equipment Market Association, Los Angeles Auto Show, CES Locations: America, Louisville , Kentucky, Kentucky

☆ EV maker VinFast strikes shares deal with Yorkville for up to $1 billion
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake/File Photo Acquire Licensing RightsHANOI, Oct 20 (Reuters) - Vietnamese electric vehicle (EV) maker VinFast said on Friday it has entered into a share subscription of up to $1 billion with U.S.-based fund Yorkville Advisors as it seeks to fund expansion in overseas markets. VinFast has the option, but not the obligation, to require Yorkville to subscribe for up to $1.0 billion worth of ordinary shares in VinFast at any time during the term of the agreement, VinFast said in a filing to the U.S. securities authority. VinFast so far has sold around 22,000 cars, aiming to meet this year's sale target of 40,000 to 50,000 units. Yorkville two years ago bought up to $400 mln worth of share in EV maker Lordstown. In April it said it would receive a fresh round of funding pledges worth $2.5 billion for its future development, of which $1 billion would be from its founder's pocket.

Persons: Mike Blake, VinFast, Pham Nhat Vuong, Ford, –, David Mansfield, Vuong, Mark Angelo, VinFast's, Tesla, Phuong Nguyen, Jason Neely, Martin Petty Organizations: Los Angeles Auto, REUTERS, Rights, U.S, Yorkville Advisors, Nasdaq, Yorkville, Lordstown, Thomson Locations: Los Angeles , California, U.S, Rights HANOI, Yorkville, VinFast, Vietnam

Volkswagen logo is pictured at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSummaryCompanies Now expects operating profit margin on sales of 7.0%-7.3%Keeps outlook for sales, deliveriesTo publish final Q3 results on Oct. 26FRANKFURT, Oct 20 (Reuters) - Volkswagen (VOWG_p.DE) cut its profit margin outlook for the current year on Friday, blaming negative effects from raw materials hedges at the end of the third quarter. Volkswagen kept its outlook for deliveries and sales, still expecting to hand between 9 million and 9.5 million vehicles to clients this year, while sales are forecast to grow by 10% to 15%. The carmaker, which is due to release full quarterly figures on Oct. 26, said third-quarter sales grew 12% to 78.8 billion euros, while operating profit was up around 14% at 4.9 billion. Volkswagen's controlling shareholder, Porsche SE (PSHG_p.DE), specified its 2023 outlook following Volkswagen's warning and now expects group profit after tax in the lower half of the 4.5 billion euro to 6.5 billion euro forecast range.

Persons: Brendan McDermid, Bernstein, Christoph Steitz, Ilona Wissenbach, Jan Harvey, Rod Nickel, Jonathan Oatis Organizations: New York, REUTERS, Volkswagen, Porsche, Thomson Locations: Manhattan , New York City, U.S, FRANKFURT, Frankfurt, Slovenia

☆ Management of bankrupt Volta Trucks seeking buyer - source
▼ + stars: | 2023-10-19 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

A Volta Zero electric truck is seen during the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 6, 2023. REUTERS/Angelika Warmuth Acquire Licensing RightsCompanies Volta Trucks AB FollowLONDON, Oct 19 (Reuters) - The management of bankrupt electric truck maker Volta Trucks is urgently seeking a buyer to take the company out of administration and help it complete the ramp-up to mass production, a source familiar with the issue told Reuters. The startup had picked a factory in Austria to make its trucks and had been working toward mass production. Representatives of executives at Alvarez & Marsal Europe (A&M), who have been appointed as bankruptcy administrators for Volta Trucks' UK operations, could not be reached for comment. A few, including EV parts supplier Proterra and electric pickup truck maker Lordstown Motors, have begun bankruptcy proceedings.

Persons: Angelika Warmuth, Nick Carey Organizations: REUTERS, Volta, Reuters, Volta Trucks, Management, Alvarez, Marsal Europe, EV, Lordstown Motors, Thomson Locations: Munich, Germany, Sweden, United Kingdom, Austria

☆ Ford recalling 35,000 US Mach-E EVs over power loss reports
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] Ford Mustang Mach-E is presented at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File photo Acquire Licensing RightsWASHINGTON, Oct 18 (Reuters) - Ford Motor (F.N) said on Wednesday it is recalling 35,000 Mustang Mach-E electric vehicles because high voltage battery main contactors may overheat resulting in a loss of driving power. The new recall of 2021 and 2022 model year Mach-E vehicles with extended range followed an August investigation by the National Highway Traffic Safety Administration's (NHTSA) into whether Ford's June 2022 recall of 49,000 Mach-E vehicles properly addressed the issue. The new recall, which is limited to extended range vehicles, includes a replacement high voltage battery junction box. NHTSA said in August that following the 2022 recall, Ford issued a service bulletin to replace the high voltage battery junction box and said owners that experienced loss of motive power after receiving the recall remedy had the part replaced.

Persons: David, Dee, Delgado, Ford, David Shepardson, Aurora Ellis Organizations: Ford, New York, REUTERS, Rights, National, NHTSA, Thomson Locations: Manhattan , New York City, U.S

☆ China's electric vehicle giant BYD sees Q3 net profit as much as doubling
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

People stand next to BYD Company vehicles, at the 2023 IAA Mobility auto show, in Munich, Germany, September 10, 2023. REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsCompanies BYD Co Ltd FollowHONG KONG, Oct 17 (Reuters) - Chinese electric vehicle giant BYD (002594.SZ) on Tuesday said it expects third-quarter net profit to as much as double thanks to robust sales and effective cost control. The Shenzhen-based company forecasts net profit for the July to September period at between 9.55 billion yuan ($1.31 billion) and 11.55 billion yuan, an increase of 67% to 102% from a year earlier. "Despite the increasingly intensified competition in the automobile industry in the third quarter, the company continued to record profit," BYD said in the filing. Net profit in the nine months through September is expected to rise 120-142% year-on-year to between 20.50 billion yuan and 22.50 billion yuan, it said, up from a net profit of 9.31 billion yuan in the year ago period.

Persons: Angelika Warmuth, BYD, Twinnie Siu, Jan Harvey Organizations: BYD Company, REUTERS, BYD, Tashkent Municipal, Thomson Locations: Munich, Germany, HONG KONG, Shenzhen, Uzbekistan, Tashkent

☆ Electric truck maker Volta Trucks files for bankruptcy in Sweden
▼ + stars: | 2023-10-17 | by ( Nick Carey | ) www.reuters.com time to read: +1 min

A Volta Zero electric truck is seen during the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 6, 2023. REUTERS/Angelika Warmuth/File photo Acquire Licensing RightsLONDON, Oct 17 (Reuters) - Electric truck maker Volta Trucks said on Tuesday it has decided to file for bankruptcy proceedings in Sweden, after difficulties at suppliers made it hard for the startup to raise funds. Volta said it will also shortly file for bankruptcy in Britain. The electric truck maker had raised around 300 million euros ($316 million) from investors and said it had an order book of more than 5,000 vehicles. Volta Trucks had picked a factory in Austria to make its trucks and had been working toward mass production.

Persons: Angelika Warmuth, Nick Carey, Louise Heavens, Sharon Singleton Organizations: REUTERS, Volta, Volta Trucks, Thomson Locations: Munich, Germany, Sweden, United Kingdom, Britain, Austria

☆ Stellantis, Ford furlough another 1,250 workers because of UAW strike
▼ + stars: | 2023-10-14 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

The Stellantis logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsOct 13 (Reuters) - Chrysler-parent Stellantis (STLAM.MI) and Ford Motor (F.N) said on Friday they will temporarily lay off 1,250 employees due to the impact of the United Auto Workers strike. Ford said it is temporarily laying off another 550 employees after the UAW walkouts at its Kentucky Truck Plant and Chicago Assembly Plant. Ford has warned that a dozen facilities could be impacted by the strike of the Kentucky Truck plant, its largest factory worldwide. Just over 34,000 UAW workers at the Detroit Three are on strike.

Persons: David, Dee, Delgado, Stellantis, Ford, David Shepardson, Chris Reese, Sandra Maler Organizations: New York, REUTERS, Chrysler, Ford, United Auto Workers, UAW, Plant, Chicago Assembly Plant, Detroit, General Motors, Thomson Locations: Manhattan , New York City, U.S, Indiana, Chicago, Ohio, Michigan, Kentucky

☆ Porsche: deliveries up in every region but China in first 9 months of 2023
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: 1 min

A Porsche logo is seen on a vehicle displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Angelika Warmuth/File photo Acquire Licensing RightsCompanies Dr Ing hc F Porsche AG FollowBERLIN, Oct 13 (Reuters) - Porsche (P911_p.DE) said on Friday that deliveries worldwide for the first nine months of 2023 were up 10% on the year, reaching 242,722 vehicles, with growth seen in every region but China. China sales fell 12% in the same January to September period, reaching 60,748 vehicles, due to the continuing challenging economic situation in the region, it said. Writing by Miranda Murray, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: Angelika Warmuth, Ing, Miranda Murray, Friederike Heine Our Organizations: REUTERS, Ing hc F Porsche, BERLIN, Porsche, Thomson Locations: Munich, Germany, China

☆ Toyota, Idemitsu join hands to mass-produce all-solid-state batteries
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

A worker cleans Toyota's Electric Vehicle bZ4X, that is displayed during the Gaikindo Indonesia International Auto Show in Tangerang, near Jakarta, Indonesia, August 10, 2023. REUTERS/Willy Kurniawan/File Photo Acquire Licensing RightsTOKYO, Oct 12 (Reuters) - Toyota Motor (7203.T) and Idemitsu Kosan (5019.T) have joined hands to develop and mass-produce all-solid-state batteries for electric vehicles, the companies said on Thursday. Idemitsu and Toyota said in a statement they would aim to commercialise the next-generation batteries in 2027-28, followed by full-scale mass production. Toyota President Koji Sato and Idemitsu President Shunichi Kito will hold a press conference at 3 p.m. (0600 GMT) on Thursday. Solid-state batteries can hold more energy than current liquid electrolyte batteries.

Persons: Willy Kurniawan, Idemitsu Kosan, Koji Sato, Shunichi Kito, Chang, Ran Kim, Muralikumar Organizations: REUTERS, Rights, Toyota, world's, Thomson Locations: Indonesia, Tangerang, Jakarta

☆ EV maker VinFast to acquire its battery maker sibling
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

The logo of Vinfast is pictured at the 2022 Paris Auto Show in Paris, France October 18, 2022. REUTERS/Stephane Mahe Acquire Licensing RightsOct 11 (Reuters) - Electric-vehicle maker VinFast Auto said on Wednesday it would acquire a 99.8% stake in battery maker VinES from its founder Pham Nhat Vuong as it seeks to ramp up its integration in the production value chain and competitive advantage. Founded in 2017 and starting to make EVs from 2021, VinFast has continuously received financial support from its founder, also Vietnam's richest man. In the short term, however, VinFast's costs are expected to increase for battery R&D and factory operations, the automaker said. After the acquisition, VinFast will acquire all rights and obligations over VinES' assets.

Persons: Stephane Mahe, VinFast Auto, Pham Nhat Vuong, VinFast, Vuong, Thuy, Thuy Le, Akash Sriram, Sriraj Kalluvila, Jonathan Oatis Organizations: REUTERS, VinFast, Vietnam's, Nasdaq, Thomson Locations: Paris, France, Indonesia, VinFast, Bengaluru, Phuong Nguyen, Hanoi

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