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By last year, with sanctions elsewhere tightening, Russia was buying more than a quarter of Japan's used-car exports for an average price of almost $8,200. That was more than double the price in 2020, when Russia took about 15% of Japan's used-car exports. Those sales had been on track to top $1.9 billion for all of 2023 before Japan imposed its own tougher sanctions, trade data show. A system of mandatory inspections pushes the cost of maintaining used cars higher for customers in Japan. Battery recycling firm 4R Energy has seen a "significant" tailwind from declining used-car prices, including the Nissan Leaf, said chief executive Yutaka Horie.

Persons: Sergei Karpukhin, Japan's, we've, Olesya Alekseeva, Takanori Kikuchi, Wataru Nishiwaki, Yutaka Horie, Daniel Leussink, Gleb Stolyarov, Kevin Krolicki, Sonali Paul Organizations: Toyota, REUTERS, Rights, SV Alliance, Japan's Ministry, Economy, Trade, Industry, Honda, Energy, Nissan, Sumitomo, Thomson Locations: Moscow, Russia, Ukraine, Japan, New Zealand, Southeast Asia, Africa, Toyama, Russia's Vladivostok, Malaysia, Mongolia, Pakistan, Tanzania, Niigata prefecture

☆ Mexican auto lobby urges authorities to fix border 'crisis' as trade hit
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Sept 29 (Reuters) - Mexico's main auto industry association on Friday urged Mexican authorities to step up efforts to work with the United States to deal with a "migration crisis" on the countries' shared border because of problems it is causing for trade. Added security checks by Texan authorities in response to a recent surge in border crossings have led to delays in goods transport in recent weeks, fueling concern inside the Mexican car industry, which is heavily integrated with the U.S. Describing the matter as a "migration and commercial crisis", AMIA said the border impasses had caused considerable hold-ups and business losses, and were adversely affecting the economy of both Mexico and the United States. AMIA urged Mexican and U.S. authorities to take humanitarian steps to fix the problem and guarantee the free flow of trade. Reporting by Dave Graham; Writing by Natalia Siniawski; editing by Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.

Persons: AMIA, Dave Graham, Natalia Siniawski, Philippa Fletcher Organizations: MEXICO CITY, U.S, Mexican Automotive Industry Association, Thomson Locations: MEXICO, United States, Mexico, Darien, Central America, Mexican, U.S

☆ Trump seeks UAW endorsement while criticizing EVs, Biden in Michigan
▼ + stars: | 2023-09-27 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Former U.S. President Donald Trump speaks during an autoworker-focused campaign rally at auto supplier Drake Enterprises, on Sept. 27, 2023 in Clinton Township, Michigan. Trump, the front-runner among Republicans in the 2024 presidential race, many times encouraged the UAW to endorse him during the roughly hour-long speech. Former U.S. President Donald Trump speaks during an autoworker-focused campaign rally at auto supplier Drake Enterprises, on Sept. 27, 2023 in Clinton Township, Michigan. The sides failed to reach tentative agreements by an 11:59 p.m. Sept. 14 expiration of contracts for 146,000 UAW members with the Detroit automakers. Currently, about 18,300 UAW members with the Detroit automakers are on strike, with the union warning of additional strikes without substantial progress in the talks by Friday.

Persons: Donald Trump, Michael Wayland, CNBC CLINTON, Trump, Joe Biden, Biden's Organizations: U.S, Drake Enterprises, CNBC, CNBC CLINTON TWP, United Auto Workers, UAW, Trump, Republicans, General Motors, Ford Motor, Detroit, Detroit automakers, GOP Locations: Clinton Township , Michigan, Mich, –, Detroit, China, CNBC

☆ 'Just shut your mouth:' Populist Republicans back UAW workers' demands while slamming union leadership
▼ + stars: | 2023-09-26 | by ( Bryan Metzger | Nora Naughton | ) www.businessinsider.com time to read: +11 min

Hawley and Vance support striking auto workers, but they're not on the same page as union leadership. AdvertisementAdvertisementAs strikes at auto manufacturing plants continue across the country, some populist-minded Republicans are breaking from their party's long-standing orthodoxies and backing the United Auto Workers' demands. Last week, Fain even slammed Donald Trump as part of the "billionaire class" following the news that the former president would address union workers in Michigan this week. So far, the only company that has figured out how to squeeze consistent profits out of electric cars is Tesla, which does not use more union labor. The union is now aiming to rebuild its reputation and influence in automotive labor and the labor movement writ large.

Persons: Hawley, Vance, they're, It's, —, what's, Sen, JD Vance, Ohio, Josh Hawley, Biden, Shawn Fain, They've, Fain, Donald Trump, Sherrod Brown, Brown, we've, Detroit's Ford, Matt Wegener, Wegener, EVs, Charmonique Demings, Trump —, Trump Organizations: PRO, Service, United Auto Workers, Republicans, UAW, GM, Stellantis, Biden's, Democrat, Michigan Assembly, Ford's Michigan, Trump, US, Detroit —, National Labor Relations Board, Supreme, Bloomberg, Biden, Battery, EV, Volkswagen, Tesla, Republican, Ford, Democratic, Democratic Party, American Locations: Josh Hawley of Missouri, China, Wentzville , Missouri, Michigan, Ohio, Detroit, Trump's Michigan, States, Mexico, Canada, Missouri

NEW YORK, Sept 26 (Reuters) - Shares of electric-vehicle startup Fisker Inc (FSR.N) rose by more than 20% on Tuesday after the company reaffirmed its plan to increase deliveries of its flagship Ocean sports utility vehicle, and a bullish Wall Street analyst report. The EV maker said it had built 5,000 Ocean SUVs and expects to ramp up deliveries to 300 units per day later this year, reiterating a plan announced earlier this month by Chief Executive Henrik Fisker. Fisker's shares rose as high as $6.47, and were on course for their biggest daily percentage gain since April. "The automotive industry is undergoing a once-in-a-century revolution with technology advancement on electrification, autonomy, and digitization," the analysts said. Unlike other EV makers, Fisker has outsourced its vehicle production to Canadian auto part supplier Magna International (MG.TO).

Persons: Henrik Fisker, John Babcock, Fisker, Chibuike Oguh, Lance Tupper, Deepa Babington 私たち Organizations: Ocean, Bank of America, Magna International Locations: California, U.S, Europe, New York

☆ Auto suppliers urge Biden to provide financial assistance to address strike
▼ + stars: | 2023-09-26 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

WASHINGTON, Sept 26 (Reuters) - U.S. auto suppliers on Tuesday urged President Joe Biden to provide federal assistance to help auto parts companies impacted by the ongoing United Auto Workers strike against the Detroit Three automakers. MEMA, the Vehicle Suppliers Association, in a letter seen by Reuters urged Biden to "effectuate federal assistance to ensure the viability of this critical industry sector. Without federal assistance, the ability of the automotive industry to resume full manufacturing capacity is at risk." The group wants the Biden administration to provide low-interest loans and consider loan forgiveness for struggling small suppliers. The White House did not immediately comment and has previously declined to comment on whether it is considering programs to support auto suppliers.

Persons: Joe Biden, Biden, David Shepardson, Franklin Paul, Chris Reese Organizations: United Auto Workers, Detroit Three, Vehicle Suppliers Association, Reuters, Business Administration, Thomson Locations: Detroit

☆ EU ministers weaken position on vehicle emissions
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

A sign directing towards electric vehicle charging points is seen in a car park in Manchester, Britain, September 8, 2023. The European Union has progressively tightened road vehicle emission limits since 1992. Spain, which holds the rotating presidency of the European Union, presented a compromise text agreed by the Council of the European Union, the grouping of EU ministers. The EU countries agreed not to change the existing "Euro 6" test conditions and emissions limits for cars and vans, although they will be lower for buses and heavy vehicles. They also accepted new particle emissions limits for brakes and tyres.

Persons: Phil Noble, Hernández, Adolfo Urso, Roberto Vavassori, Sudip Kar, Alvise Armellini, Giulio Piovaccari, Philip Blenkinsop, Hugh Lawson, Barbara Lewis Organizations: REUTERS, Rights, Union, European Union, of, The, European Commission, EU, Italian Industry, Ferrari, Lamborghini, Maserati, Thomson Locations: Manchester, Britain, Rights BRUSSELS, France, Italy, Czech Republic, Spain

☆ Nissan says all new models launched in Europe will be fully electric
▼ + stars: | 2023-09-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Japanese carmarker Nissan announced Monday that all new models it launches in Europe will be fully electric, as it reaffirmed its aim for solely electric vehicle sales on the continent by 2030. "There is no turning back now," Makoto Uchida, Nissan president and CEO, said in a statement. Globally, Nissan plans to launch 27 electric and hybrid vehicles, which includes 19 all-electric models, by 2030. Nissan partner Renault , as well as rivals Ford and Stellantis, have all announced plans to make their European passenger ranges fully electric by 2030. In China, he said the company would look to launch cars more quickly and launch new models targeting specific consumers.

Persons: Makoto Uchida, Lisa Brankin, Uchida, CNBC's Arjun Khapal Organizations: Nissan, EV, Renault, Ford, Sunderland, Nissan Design Locations: Europe, Sunderland, London, China

☆ Indonesia's EV ambitions could help boost investments in the rest of Southeast Asia
▼ + stars: | 2023-09-25 | by ( Quek Jie Ann | ) www.cnbc.com time to read: +1 min

Korean automobile manufacturer Kia displays the electric vehicle "EV6 GT-Line" during the 30th Gaikindo Indonesia International Auto Show in Tangerang on August 10, 2023. Indonesia's EV-friendly policies have lured global investors to the country, but experts say they could also boost investments in Southeast Asia's automotive industry more broadly. Indonesia could be the "gateway" to the rest of the Association of Southeast Asian Nations, said Anindya Novyan Bakrie, CEO and president director of Bakrie & Brothers, an Indonesian conglomerate whose electric vehicle unit VKTR manufactures electric buses as well as EV parts. The Southeast Asian country is rich in copper, nickel, cobalt and bauxite — materials essential for the manufacturing of electric vehicle batteries. Indonesia is the largest nickel exporter, accounting for 22% of the world's reserves, according to a report by the ASEAN Briefing.

Persons: Anindya Novyan Bakrie, Tesla Organizations: Kia, Indonesia's, Association of Southeast Asian Nations, Bakrie, Brothers, ASEAN, BMI Fitch Solutions, CNBC Locations: Indonesia, Tangerang, Indonesian

The investment would alleviate the financial burden for Coherent, which has said it will invest $1 billion over the next 10 years to expand its production of silicon carbide wafers, which help boost the range of electric vehicles more than chips made with traditional silicon. Denso Corp (6902.T), Hitachi Ltd (6501.T), Mitsubishi Electric Corp (6503.T) and Sumitomo Electric Industries Inc (5802.T) have held discussions about taking a minority stake in Coherent's silicon carbide business, the source said. Coherent may accept more than one of these companies as investors in the silicon carbide division at a valuation of between $4 billion and $5 billion, the source added, requesting anonymity because the matter is confidential. Coherent, which said in May it would explore options for its silicon carbide business, declined to comment. Chips made with silicon carbide are used in applications that require huge amounts of power conversion, such as inverters and drivetrains in electric vehicles.

Persons: Chips, Milana Vinn, Andrea Ricci Organizations: Denso Corp, Hitachi Ltd, Mitsubishi Electric Corp, Sumitomo Electric Industries Inc, Thomson Locations: U.S, Pittsburgh , Pennsylvania, China, New York

☆ The UAW strike at Ford, GM, and Stellantis could change the entire automotive industry forever
▼ + stars: | 2023-09-21 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +7 min

For the first time in its 88-year history, the UAW is on strike at all three of the Detroit companies at once. "We have a bigger point to make," Wegener said, noting the strike sends a larger message about inequality across the industry. In fact, the United Auto Workers-led strike at the Detroit 3 is shaping up to have an outsized effect on the entire automotive industry. "If the UAW does dig their heels in and does well here, it's highly likely that they will get other auto workers who are not UAW auto workers to be very interested," Ambrose Conroy, CEO of consultancy Seraph, said. Even the branding of the strike, which Fain has called the "Stand Up" strike, is a play on the UAW's highly influential 1937 sit-down strike at GM.

Persons: Tesla, Matt Wegener, –, Wegener, It's, it's, Ambrose Conroy, Seraph, Fain, we've, Jason Miller, Stellantis, Melissa Atkins, Ford, Jim Farley, Miller, Conroy, They've Organizations: UAW, Service, United Auto Workers, Michigan Assembly, Detroit, Ford, GM, Teamsters, United Airlines, Michigan State University, CNBC, Tesla Locations: Detroit, Wall, Silicon, Wells Fargo

☆ The UK is delaying the switch to electric cars. Automakers are furious
▼ + stars: | 2023-09-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

A relaxation of 2030 would undermine all three,” Ford (F) UK chair Lisa Brankin said in a statement. “We and the whole automotive industry [need] clarity on the [EV] topic,” the German carmaker said in a statement shared with CNN. ‘Confusion’ will delay switch to EVsThe UK auto industry has been clawing its way back from rock bottom after car manufacturing hit a 66-year low in 2022. Reducing emissions from road transport “is the only way that you will achieve net zero,” Hawes told the BBC. The government’s own independent adviser on climate policy, the Climate Change Committee shares that view.

Persons: carmakers, Rishi Sunak, Sunak, “, ”, Sunak’s, ” Ford, Lisa Brankin, Brankin, carmaker, Mike Hawes, ” Hawes, Jobs, Sadiq Khan, ” Sunak, “ We’re, Alok Sharma, Simon Clarke, EVs, — Gemma Blundell, Doyle, Anna Cooban, Laura Paddison, Rob Picheta Organizations: London CNN, BMW, Oxford, Swindon, CNN, Fiat, Peugeot, Fiat Chrysler, France’s, India’s Tata Group, Society of Motor Manufacturers, Traders, BBC, Conservative Party, Labour Party’s London, Conservative Locations: Germany, France, Spain, Italy, Canada, Sweden, Ellesmere Port, Liverpool, Britain, London, Glasgow

☆ UK car industry says 'confusion' on climate policy will hinder transition to EVs
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

LONDON, Sept 20 (Reuters) - The transition to electric cars in Britain will be hindered by any confusion over climate policy, the auto industry's trade body said on Wednesday, following reports that the government was planning to delay a 2030 ban on new petrol car sales. "The automotive industry has and continues to invest billions in new electric vehicles as the decarbonisation of road transport is essential if net zero is to be delivered," Society of Motor Manufacturers and Traders Chief Executive Mike Hawes said. "To make this a reality, however, consumers must want to make the switch, which requires from government a clear, consistent message, attractive incentives and charging infrastructure that gives confidence rather than anxiety," he added. "Confusion and uncertainty will only hold them back." Reporting by Sachin Ravikumar; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Hawes, Sachin Ravikumar, William James Our Organizations: Society of Motor Manufacturers, Traders, Thomson Locations: Britain

☆ Canadian autoworkers extend negotiations with Ford, delaying a possible strike
▼ + stars: | 2023-09-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

According to an update posted on the union site: “Unifor is extending negotiations with Ford Motor Company for a 24-hour period. By contrast, Unifor announced if it goes on strike, it will strike all the Ford facilities where it represents members. The union had granted them contract extensions while it focused its negotiations on reaching the best possible deal with Ford. It has not had a strike in its Canadian operations since 1990 and has not had a US strike since 1978. A Canadian strike could be a bigger blow to Ford’s sales than the UAW strike, which is so far is limited to one factory in Michigan in the case of Ford.

Persons: Unifor, ” Ford, Lana Payne, ” Payne, Ford Organizations: CNN, Canadian, Ford, Ford Motor Company, United Auto Workers, General Motors, Jeep, Dodge, Chrysler, UAW, Ford Bronco, Nautilus Locations: Canada, Wayne , Michigan, Michigan, Windsor

☆ Banks scramble to find leaders equipped for today’s economic realities
▼ + stars: | 2023-09-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

That means most current executives, who came up in the era of easy money, are unfamiliar with the complexities of running a bank under today’s conditions. Some CEOs are deciding that they need to make drastic, expensive and often unpopular institutional changes to help them keep up. Banks currently have strong managers, but not a lot of strong leaders, said David Schiff, senior partner at West Monroe. Prior to the current interest rate hikes, banks had been operating with low-interest, stable rates for nearly two decades, he said. It has not had a strike in its Canadian operations since 1990 and had not had a US strike since 1978.

Persons: Jane Fraser, Fraser, Mike Santomassimo, Truist, Venkatakrishnan, Goldman Sachs, It’s, Roger Hochschild, Morgan Stanley, James Gorman, Banks, David Schiff, That’s, aren’t, ”, Schiff, “, “ There’s, Chris Isidore, Unifor, ” Ford, Lana Payne, Clorox, Jordan Valinsky Organizations: CNN Business, Bell, New York CNN, Citigroup, Citi, Wells, Reuters, Barclays, C.S, CNBC, Discover, Canadian, Ford, Ford Motor Company, United Auto Workers, General Motors, Jeep, Dodge, Chrysler Locations: New York, West Monroe, Canada, Clorox

☆ Ford barrels toward new Canadian strike that could affect F-Series pickup production
▼ + stars: | 2023-09-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

A Unifor strike would disrupt Ford's Oakville Assembly Plant that produces the Ford Edge and Lincoln Nautilus crossovers. F-Series, Mustang could be disruptedIf a prolonged Canadian strike occurs, the work stoppage could eventually impact U.S. production of the vehicles. Gasoline V8 models make up about 50% of Mustang and 20% of F-150 models sold in the U.S. Large F-Series trucks exclusively have V8 engines. But a majority of those vehicles sold have diesel V8 engines rather than gasoline, according to the company. The Canadian union picked Ford as its "target" company instead of following the UAW's new strategy of bargaining with all three automakers.

Persons: Ford, Carlos Osorio, Wheaton, Lana Payne, Jerry Dias, Cole Burston Organizations: Ford DETROIT, Ford, United Auto Workers, General Motors, Chrysler, Plant, Ford Edge, Lincoln Nautilus, Reuters, Detroit, UAW, Worker Institute, Cornell University, Unifor, Detroit automakers, U.S, Canadian Locations: Oakville, Oakville , Ontario, Canada, U.S, Mexico, Toronto , Ontario

☆ Ford and GM workers already make $20 more per hour than Tesla employees. Their union's demands would double that gap.
▼ + stars: | 2023-09-18 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Detroit executives have Tesla in mind as they reject the UAW's big demands. The labor cost gap between the Detroit 3 and Tesla is already staggering. Tesla is the "clear winner" in the UAW strike, one analyst said. The UAW launched a first wave of targeted strikes last week after months of negotiations for new labor contracts with Ford, GM, and Jeep-owner Stellantis. Tesla spends about $45 an hour on labor (this cost combines hourly wages and benefits), while Ford, GM, and Stellantis are currently spending about $66 an hour on their labor, according to industry analysts.

Persons: Tesla, Stellantis, Wells, Elon, Dan Ives Organizations: Detroit, UAW, Service, United Auto Workers, Ford, GM, Deutsche Bank, Toyota, Honda, Tesla, Thrones Locations: Wall, Silicon, Detroit, Michigan , Ohio, Missouri, Wells Fargo

☆ Chip startup UltraSense enters deal with Korean automotive supplier
▼ + stars: | 2023-09-18 | by ( Stephen Nellis | ) www.reuters.com time to read: +1 min

A view of cars on the road during rush hour traffic jam, in San Francisco, California, U.S. August 24, 2022. UltraSense makes a chip that uses ultrasound waves to detect when a person has tapped on a solid surface. Daniel Goehl, UltraSense's chief business officer, told Reuters that automotive companies are experimenting with replacing traditional control buttons with solid panels of metal or wood, especially in high-end models. Under the deal announced on Monday, Mobase, a supplier to Korea's automotive industry, will use UltraSense chips in button bars it supplies to automakers. San Jose, California-based UltraSense's Goehl declined to say which vehicles will contain his company's chips, but said they will show up in "high-tier" models from Korean automakers.

Persons: Carlos Barria, UltraSense, Daniel Goehl, Byeong, Goehl, there'll, Stephen Nellis, Will Dunham Organizations: REUTERS, UltraSense Systems, Reuters, Thomson Locations: San Francisco , California, U.S, Jose , California, San Francisco

☆ Auto strike could be speed bump for hard-driving US economy
▼ + stars: | 2023-09-15 | by ( Dan Burns | ) www.reuters.com time to read: +4 min

"While that amount is large in nominal dollar terms, it would not be large enough to tip the economy into recession. In the end, the impact of a such a strike would be modest compared to previous generations," Brusuelas said. Other economists offered comparable estimates of the potential drag from a prolonged strike by the Big Three's full union membership. A full-blown strike "could push U.S. payroll growth temporarily negative," Michael Pearce, lead U.S. economist at Oxford Economics, wrote on Wednesday. Pearce also estimated a full strike lasting a month could cut U.S. auto output by nearly a third, much as it did during the 1998 strike.

Persons: Rebecca Cook, Detroit's, Joe Brusuelas, Brusuelas, Michael Pearce, Pearce, Dan Burns, Deepa Babington Organizations: UAW, General Motors Detroit, Hamtramck, REUTERS, General Motors, Ford, United Auto Workers, RSM, Big, Federal Reserve, Oxford Economics, Labor, payrolls, Thomson Locations: Hamtramck , Michigan, U.S

After weeks of negotiations with Ford, GM, and Stellantis, United Auto Workers are on strike. The labor union did not reach an agreement with the Detroit 3 before its deadline. Looming impactThe strike is sure to impact more than just the union workers and the Detroit 3 . Experts also suggest the additional costs Ford, GM, and Stellantis could incur as a result of the negotiations could trickle down to consumers, particularly through EV pricing. Historic momentThe last time the UAW and Detroit 3 companies negotiated a contract in 2019, union workers went on strike against GM for 40 days.

Persons: WsUdPt0or5, Shawn Fain, Fain, Shawn Fain Livestream, woPPh2bVSQ, Stellantis, Tesla, Dan Ives Organizations: Ford, GM, United Auto Workers, Detroit, Service, UAW, WsUdPt0or5 — UAW, General Motors, Chrysler, woPPh2bVSQ — UAW, Associated Press, Company, EV, Wedbush, Car Locations: Wall, Silicon, Wentzville , Missouri, Toledo , Ohio, Ford, Wayne , Michigan

☆ UAW strike could brake hard-driving US economy
▼ + stars: | 2023-09-15 | by ( Dan Burns | ) www.reuters.com time to read: +5 min

"UAW on strike" signs lean against a pile of wood on the picket line outside the General Motors Detroit-Hamtramck Assembly in Hamtramck, Michigan, U.S. October 25, 2019. RSM estimates the U.S. economy would suffer a modest 0.2% drag to annualized growth of gross domestic product this quarter should the strike action last for a month, Brusuelas said. Other economists offered comparable estimates of the potential drag from a prolonged strike by the Big Three's full union membership. A full-blown strike "could push U.S. payroll growth temporarily negative," Michael Pearce, lead U.S. economist at Oxford Economics, wrote on Wednesday. Pearce also estimated a full strike lasting a month could cut U.S. auto output by nearly a third, much as it did during the 1998 strike.

Persons: Rebecca Cook, Detroit's, Joe Brusuelas, Brusuelas, Michael Pearce, Pearce, Dan Burns, Deepa Babington, Diane Craft Organizations: UAW, General Motors Detroit, Hamtramck, REUTERS, General Motors, Ford, United Auto Workers, RSM, Big, Reuters, Federal Reserve, Oxford Economics, Labor, payrolls, Thomson Locations: Hamtramck , Michigan, U.S

Still, it could hurt perceptions of Chinese EV makers as they expand abroad, Bernstein analysts said in a client note. Nio and Geely declined to comment on the EU probe, while BYD, Xpeng and SAIC did not respond to requests for comment. Shares in European carmakers were also among the biggest fallers on the euro zone stock index (.STOXXE50) in early trading. STRAINED RELATIONSThe anti-subsidy probe, initiated unusually by the European Commission and not from any industry complaint, comes amid broader diplomatic strains between the EU and China. It accounted for 40.25% of EV exports from China between January and April 2023.

Persons: Annegret, Ursula von der Leyen, Bernstein, BYD, CATL, Cui Dongshu, EVs, Donny Kwok, Brenda Goh, Ryan Woo, Anne Marie Roantree, Tom Hogue, Jamie Freed, Mark Potter Organizations: REUTERS, China, EV, EU, European, Ministry of Commerce, Eurasian Group, Reuters Graphics, Reuters Graphics Hong Kong, HK, Geely, SAIC, BMW, Volkswagen, Mercedes, European Commission, China Passenger Car Association, EVs, for Strategic, Internal Studies, Reuters, Thomson Locations: Berlin, Germany, Europe, China, SHANGHAI, BEIJING, Beijing, EU, Brussels, Southeast Asia, Reuters Graphics Hong, Shanghai, Xpeng, Shenzhen, SZ, Moscow, Russian, Ukraine, U.S, Hong Kong

☆ China denounces Europe probe of EVs as 'naked protectionist' act
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Nio ET5 electric vehicle is displayed at the Chinese EV maker's showroom in Shanghai, China, February 3, 2023. The investigation launched on Wednesday will determine if punitive tariffs are warranted to protect EU producers from what European Commission President Ursula von der Leyen described as a "flood" of cheaper Chinese EV imports. "It is a naked protectionist act that will seriously disrupt and distort the global automotive industry and supply chain, including the EU, and will have a negative impact on China-EU economic and trade relations." The probe, initiated by the European Commission and not from any industry complaint, will further irritate a tense relationship with China partly strained by trade and investment imbalances. Reporting by Ryan Woo; additional reporting by Ellen Zhang; Editing by Clarence Fernandez and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Ursula von der Leyen, Ryan Woo, Ellen Zhang, Clarence Fernandez, Jamie Freed Organizations: EV maker's, REUTERS, Rights, European, EV, EU, European Commission, Thomson Locations: Shanghai, China, Rights BEIJING, European Union, EU

☆ 'Blatantly protectionist': China sharply rebukes EU probe on Chinese EV subsidies
▼ + stars: | 2023-09-14 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Vcg | Visual China Group | Getty ImagesChina has accused the European Union of "blatant protectionism" after its executive arm unexpectedly launched an "anti-subsidy" investigation into China's electric vehicle makers. The Chinese Commerce Ministry urged dialogue to safeguard the interests of Chinese companies and commit to global efforts to address climate change and achieve carbon neutrality. If the EU finds harm from Chinese subsidies, Brussels is likely to impose tariffs on Chinese EVs despite the risk of political and economic backlash from Beijing. "If the EU finds harm from Chinese subsidies, Brussels is likely to impose tariffs on Chinese EVs despite the risk of political and economic backlash from Beijing." EU members are demanding the regional bloc shield European carmakers from Chinese EVs that they say are heavily subsidized by the Chinese government.

Persons: Ursula von der Leyen Organizations: Visual China, Getty, European Union, Chinese Commerce Ministry, CNBC, EU, Beijing . Eurasia, of, Eurasia Group Locations: Jinhua, Zhejiang Province, China, EU, Brussels, Beijing, U.S, Europe, Strasbourg

☆ The UAW doesn't have to strike at every automaker or factory to shut down most of the auto industry
▼ + stars: | 2023-09-14 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +5 min

The UAW can strike in a few ways, but typically, members have gone on strike against just one of the three Detroit automakers rather than all three at once. "We're going to hit where we need to hit and when we need to hit, we're going to hit to move mountains." If the UAW cuts off the Detroit auto companies' precious money-making factories, that could have a broader impact. AdvertisementAdvertisementIf the UAW strike takes down Detroit 3 production, that will impact the hundreds of suppliers that provide parts to these companies. Suppliers struggled after the last UAW strike, during which workers halted production at GM for 40 days.

Persons: Stellantis, Shawn Fain, Fain Organizations: United Auto Workers, Service, Ford, General Motors, Detroit, GM, UAW, Suppliers Locations: Wall, Silicon, Mexico, Detroit

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