Author: Harding Greenwood

The National Highway Traffic Safety Administration (NHTSA) announced on Tuesday that General Motors will recall 107 Chevy Bolt EV and EUV vehicles from model years 2020-2022 due to a potential fire risk. The recall involves vehicles previously repaired in earlier recalls, with concerns that the installation of advanced diagnostic software may not have been properly completed, potentially creating a hazard when the battery is fully or nearly fully charged. To reduce the risk, the NHTSA advises owners of affected vehicles to take several precautionary steps: limit battery charging to 90%, avoid allowing the battery to deplete below a 70-mile range,…

Tesla has introduced a new incentive in China, offering customers the chance to win a tour of its Giga Shanghai facility as the automaker seeks to leverage the country’s car consumption stimulus. From now until December 3, Chinese customers who order a new Tesla vehicle via the company’s trade-in service and complete the delivery within the contract period will be eligible for a lottery, the company announced on Weibo. The incentive includes a round-trip airfare and a one-night hotel stay for the winners and their companions. A total of 10 winners will be selected, each allowed to bring a guest…

Europe must invest €39 billion ($42.46 billion) annually to meet its net zero emissions targets in the transport sector by 2050, according to a report released by campaign group Transport & Environment (T&E) on Monday. The organization outlined five key recommendations aimed at guiding the European Union’s efforts to decarbonize its transportation systems. The report highlights the need for a coordinated industrial policy that includes significant investment in green technologies, particularly in light of recent findings by former European Central Bank chief Mario Draghi, who emphasized the importance of a comprehensive investment strategy for the EU. “An EU-level investment strategy…

China has formally lodged a complaint with the World Trade Organization (WTO) against the European Union (EU) over its recent tariff hikes on electric vehicles (EVs) imported from China. Chinese officials filed the complaint on Monday, arguing that the EU’s decision constitutes “trade protectionism” and infringes on global trade rules. The move, announced by China’s Commerce Ministry, aims to “safeguard the development interests” of the EV sector. The Commerce Ministry criticized the EU’s tariff increases, asserting that they lack a factual and legal basis. A spokesperson urged the EU to reconsider its measures, calling for efforts to maintain the stability…

Eve Air Mobility has announced the acquisition of a $50 million loan from Citibank to strengthen its balance sheet and support its aircraft research and development program. This loan will increase Eve’s pro-forma liquidity for the second quarter of 2024 to approximately $480 million when combined with $95.6 million in equity financing secured in July 2024 from various global industrial companies and financial investors. The company also established a new $88 million credit line agreement with Brazil’s National Development Bank (BNDES) for the development of its aircraft production facility in Taubaté, São Paulo. “Eve continues to attract new investors, a…

BYD has made significant strides in boosting its factory capacity over the past three months to sustain its ongoing sales growth in the new energy vehicle (NEV) market. According to He Zhiqi, the company’s executive vice president, BYD increased its production capacity by nearly 200,000 units during the August to October period, as announced on Weibo. While He did not provide specifics, it is expected that this capacity increase pertains to the monthly production rate. BYD’s monthly sales surged from approximately 370,000 units in August to 500,000 units in October, reflecting the company’s rapid growth trajectory. To support this expansion,…

Yutong Bus has successfully completed a battery endurance and mileage challenge, traveling 555 kilometers on a single charge in Australia, underscoring its commitment to advancing green mobility solutions in public transport. The Yutong C12E fully electric bus, which has been in operation for two and a half years, undertook a round trip of 285 kilometers from Preston, a suburb of Melbourne, to Kiama, finishing the journey with 50 percent of its battery remaining. During the trip, the bus achieved a power consumption rate of 0.63 kWh/km while navigating various road conditions, including city streets, highways, and mountainous terrain. https://www.youtube.com/watch?v=gt1R4-xjb8A Kent…

JAC Motors, a Chinese electric truck manufacturer, has shipped 100 MD electric trucks (cab and chassis) to a single customer in Mexico, marking a notable advancement in the company’s efforts to establish a presence in the North American market. As the thirteenth-largest automotive market globally, Mexico offers a competitive environment where American vehicles often share the roads with international brands. The country’s favorable labor rates have attracted various global car manufacturers, creating a market where vehicles sold in the U.S. and Europe face competition from Chinese brands. https://www.youtube.com/watch?v=vq8Z88OWpxU This competitive landscape is particularly significant in Mexico’s electric vehicle (EV) sector,…

The German auto industry, traditionally viewed as a stable source of long-term employment, may face significant workforce reductions over the next decade, largely driven by the sector’s shift to electric vehicles (EVs), according to a new study by consultancy firm Prognos. The report predicts that the transition to EVs could reduce employment in Germany’s automotive industry by about 186,000 jobs by 2035 compared to 2019. This decline is attributed in part to the simpler drive systems in electric vehicles, which require fewer components than traditional internal combustion engines. As a result, a range of jobs, particularly in welding, metal processing,…

Tesla and Uber have launched an incentive program valued at up to $2,000 to encourage ride-share drivers to switch to electric vehicles. Eligible Uber drivers purchasing a new Tesla Model 3 or Model Y can receive $1,000 in Tesla credits upon delivery and another $1,000 from Uber after completing 100 trips, Tesla announced on a dedicated section of its website. “Eligible Uber drivers who purchase a new Model 3 or Model Y vehicle can receive $1,000 in Tesla Credits upon taking delivery, and $1,000 in cash from Uber after completing 100 trips,” the website states, with Tesla Credits available for…

BYD, China’s largest new energy vehicle (NEV) manufacturer, reported record sales of 502,657 NEVs in October, marking the first time the company has exceeded the 500,000 mark in a single month. This represents a 66.5% increase compared to 301,833 units in the same period last year and a 19.8% rise from September’s 419,426 units, according to data released by BYD on Wednesday. The company’s October sales milestone reflects continued strong demand for its plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) across domestic and international markets. “Our focus on NEVs has enabled us to drive sustainable growth month…

Germany’s Federal Cartel Office has cleared Porsche’s acquisition of a stake in battery manufacturer Varta, citing no competition concerns with the planned investment. The decision allows Porsche to move forward with acquiring a non-controlling interest in Varta AG and a majority stake in Varta’s subsidiary V4Drive Battery GmbH, the company’s large-format lithium-ion cell unit. The acquisition, announced on October 9, permits Porsche to assume sole control of V4Drive, with Varta AG retaining a minority interest in the unit. This partnership is part of a broader reorganization aimed at supporting Varta amid financial challenges. Porsche and Austrian shareholder Michael Tojner have…