BERLIN (Reuters) – German manufacturers’ recovery from lockdown measures continued last month, with output growing at the fastest pace since February 2018, a survey showed on Tuesday. IHS Markit’s final Purchasing Managers’ Index (PMI) for manufacturing, which... More »
(Reuters) – Billionaire entrepreneur Elon Musk’s neuroscience startup Neuralink on Friday unveiled a pig named Gertrude that has had a coin-sized computer chip in its brain for two months, showing off an early step toward the goal of curing human diseases with... More »
SHANGHAI (Reuters) – Geely Automobile Holdings Ltd on Monday booked a 43% drop in half-year profit and trimmed its full-year sales goal, sending its shares down 4%, as the coronavirus outbreak continues to trouble the world’s biggest auto market. The results c... More »
(Reuters) – Korean automaker Hyundai Motor Co (005380.KS) is creating a family of electric vehicles it will sell under the Ioniq brand as part of its drive to become the world’s third-largest seller of EVs by 2025, the company said on Sunday. Hyundai said the ... More »
SEOUL (Reuters) – Hyundai Motor Co (005380.KS) stock jumped as much as 10.2% on Monday to its highest price since May 2018, after the automaker said it would create a family of Ioniq-brand electric vehicles (EVs) as it aims to become the third-largest EV maker... More »
DES MOINES, Iowa (Reuters) – After years of being part of a future that never quite arrived, the coronavirus pandemic has put U.S. online car sellers on the map. Now comes a race to spend vast sums on digital commerce platforms specifically designed to handle ... More »
(Reuters) – Lordstown Motors has agreed to go public through a merger with blank-check company DiamondPeak Holdings in a deal that values the electric pickup truck start-up at pro forma equity value of $1.6 billion, the companies said on Monday. The combined c... More »
MADRID (Reuters) – Spanish factory activity expanded in July, rebounding from its worst slowdown in almost 12 years as the economy revived after the government ended one of Europe’s strictest coronavirus lockdowns a month earlier, a survey showed on Monday. In... More »
(Reuters) – Tesla Inc (TSLA.O) cut the price of its sport utility vehicle Model Y by $3,000, just four months after its launch, as the U.S. electric carmaker seeks to maintain sales momentum in the COVID-19 pandemic. The reduction follows price cuts in May on ... More »
LONDON (Reuters) – British new car registrations fell by an annual 35% in June, the smallest drop since February, as many dealerships reopened after coronavirus lockdown measures were lifted. A total of 145,377 new cars were registered in June, leaving year-to... More »
BERLIN (Reuters) – Orders for German industrial goods rose by 10.4% in May, rebounding from their biggest drop since records began in 1991 the previous month, data showed on Monday, as demand picked up after lockdown measures to fight the coronavirus were lift... More »
LONDON (Reuters) – Russian Sergey Sirotkin will be on standby in Austria this weekend after Renault announced on Tuesday they had retained him as their Formula One reserve driver. The role has come into the spotlight more as the sport finally starts its season... More »
BUDAPEST (Reuters) – Hungary is ready to give financial support to Audi (NSUG.DE) to help its manufacturing plant in the country run at full operating capacity, Prime Minister Viktor Orban was reported as saying on Monday as he visited the site. Orban said Aud... More »
BEIJING (Reuters) – Delta Air Lines (DAL.N) has received approval from the Shanghai government to resume flights from June 18, a company spokeswoman said on Monday, paving the way for the carrier to resume services to China after months of suspension due to CO... More »
FRANKFURT (Reuters) – The number of publicly accessible charging points for electric vehicles (EV) jumped 60% in 2019, the biggest increase in three years and outpacing sales of battery-powered cars, according to the International Energy Agency (IEA). In its a... More »
(Reuters) – Online used car seller Vroom Inc raised $467.5 million in its U.S. initial public offering, the company said on Monday, as the IPO market picks up momentum after the COVID-19 pandemic placed many debuts on hold. Vroom priced its IPO at $22, above t... More »
TOKYO (Reuters) – Mitsubishi Motors Corp (7211.T) on Tuesday posted an 89% drop in annual operating profit in the year ended March as the Japanese automaker took a hit from falling vehicle sales as the coronavirus pandemic takes its toll on global demand for c... More »
FRANKFURT/DUESSELDORF (Reuters) – Thyssenkrupp’s CEO on Tuesday said there were no taboos in plans to consolidate its steel unit, marking a break with tradition under which the business had been sacrosanct for centuries. “Nothing is off-limits anymore,” Martin... More »
MILAN (Reuters) – The auto industry represents a significant share of Italy’s economy and it is right to support those who create jobs, Deputy Economy Minister Laura Castelli said when asked about Fiat Chrysler’s (FCHA.MI) request for state-backed loans. The I... More »
BEIJING (Reuters) – U.S. electric vehicle maker Tesla Inc (TSLA.O) suffered a slump of 64% in car registrations in China in April on the month, data from auto consultancy LMC Automotive showed. Tesla’s China registrations, including imported cars, fell to 4,63... More »
PRAGUE (Reuters) – Czech car production fell 31.1% year-on-year in the January-April period to 337,497 cars, the Automotive Industry Association said on Tuesday. In April alone, when the country ground to a standstill due to measures aimed to curb the coronavi... More »
FRANKFURT (Reuters) – Worldwide electric car registrations are set to fall 18% this year, but those of combustion engine cars are set to drop even faster, analysts BloombergNEF (BNEF) said on Tuesday, as the automotive sector is hammered by the coronavirus cri... More »
YUYAO, China/SHANGHAI (Reuters) – In the eastern Chinese city of Yuyao, a group of five face-masked workers at a Geely auto plant, stood almost shoulder to shoulder behind an SUV as they conducted paint and other quality checks. That scene would not have been ... More »
TOKYO (Reuters) – Toyota Motor Corp (7203.T) on Tuesday said it expects profit to drop 80% to its lowest in nine years, as Japan’s biggest automaker grapples with the impact of the novel coronavirus which has sapped global demand for vehicles. Global automaker... More »
TOKYO (Reuters) – Japan’s government will offer a wide range of funding support for the country’s automobile industry, which is facing slumping output due to the coronavirus pandemic, top government spokesman Yoshihide Suga said on Tuesday. He also told a regu... More »
(Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk on Monday said production was resuming at the automaker’s sole U.S. vehicle factory, in California, defying an order to stay closed and saying if anyone had to be arrested it should be him. The move come... More »
MILAN (Reuters) – Luxury sports car maker Ferrari (RACE.MI) still expects to make more than $1 billion in core profit this year, providing a relative beacon of stability in an auto industry ravaged by the coronavirus crisis. The company, known for its red Form... More »
BERLIN/MUNICH (Reuters) – The business climate in Germany’s auto sector suffered its biggest slump in April and hit its lowest level since 1991, when the Ifo economic institute began collecting data post-reunification, a survey showed on Monday. The news came ... More »
PRAGUE (Reuters) – Czech carmaker Skoda Auto, part of the Volkswagen Group (VOWG_p.DE), reported a 25% drop in first-quarter operating profit on Monday, but said the biggest hit from the coronavirus outbreak would come in the second quarter. Skoda, the Czech R... More »
WASHINGTON (Reuters) – Two senior U.S. House Democrats on Friday asked the U.S. Treasury and Federal Reserve to direct at least $5 billion in loans to struggling intercity bus companies because of the coronavirus pandemic. House Ways and Means Committee Chairm... More »
TOKYO (Reuters) – Nissan Motor Co (7201.T) said on Tuesday it will shut its global headquarters in Japan for 16 days through early May to contain the spread of the coronavirus, even though the government has permitted keeping workplaces open to get the economy... More »
SEOUL (Reuters) – South Korean exports plunged nearly 27% in the first 20 days of April as the coronavirus health crisis paralyzed global manufacturing activity and crushed consumer demand. The worst may be yet to come with many of the country’s top trading pa... More »
SEOUL (Reuters) – Kia Motors Corp (000270.KS) told its labour union in South Korea that it wants to suspend operations at three of its domestic factories as the coronavirus outbreak weighs on exports to Europe and the United States, a union official said on Mo... More »
(Reuters) – Uber Technologies Inc (UBER.N) on Thursday said it plans to ship millions of face masks to its active drivers and food delivery people around the world to help prevent the spread of the novel coronavirus. The ride-hailing company’s vice president o... More »
(Reuters) – Geico Corp, part of billionaire Warren Buffett’s Berkshire Hathaway Inc, said on Tuesday it will offer about $2.5 billion of credits to its 19 million auto and motorcycle policyholders, reflecting the decline in driving stemming from the coronaviru... More »
LONDON (Reuters) – A group representing Britain’s car industry cut its sales forecast for this year by 23% to 1.73 million vehicles because of the impact of the coronavirus crisis. The figure represented a 25% fall from the number of new car registrations in 2... More »
NEW YORK (Reuters) – Engineers at Tesla Inc (TSLA.O) showed a prototype for a ventilator on Sunday evening in a video published on the company’s YouTube channel, as hospitals around the country overwhelmed by coronavirus patients face device shortages. The des... More »
LONDON (Reuters) – Britain’s car sector needs immediate cash and the government should introduce measures to support suppliers, some of which only have enough money to handle the coronavirus crisis for weeks not months, the head of the main trade body told Reu... More »
(Reuters) – Uber and Lyft drivers are hitting a wall in their efforts to apply for the coronavirus jobless benefits promised by Congress as state agencies say they are not ready to handle a class of workers who are totally new to the U.S. unemployment system. ... More »
WASHINGTON (Reuters) – U.S. House of Representatives Speaker Nancy Pelosi said on Thursday she will form a bipartisan select committee on the coronavirus crisis to oversee the spending of $2.3 trillion that Congress has approved to respond to the pandemic. In ... More »
LONDON/OAKLAND/BUCHAREST (Reuters) – Driving to work at his factory to the west of London last week, designer Steve Brooks had coronavirus on his mind. What could he make that would let him open a door without touching the handle? “Everyone has to use their li... More »
WASHINGTON (Reuters) – President Donald Trump, who excoriated General Motors Co on Friday and invoked emergency powers to compel the production of badly needed ventilators to tackle the coronavirus pandemic, has abruptly shifted gears to praise the automaker. ... More »
BEIJING (Reuters) – China’s Geely Automobile Holdings Ltd (0175.HK) on Monday said 2020 may be “amongst the most difficult years” in its history, as pressure stemming from the coronavirus pandemic on production and sales is likely to persist in the near future... More »
TOKYO (Reuters) – Toyota Motor Corp (7203.T) said on Monday that it would extend a suspension at all of its factories in Europe with the exception of Russia until further notice, with a restart expected no earlier than April 20. With the spread of the coronavi... More »
BERLIN (Reuters) – Lufthansa (LHAG.DE) said on Monday that it was suspending flights to China until April 24 and to Tehran until April 30 due to the coronavirus outbreak. Lufthansa said it was also adjusting its flights to northern Italy. It said Austrian Airl... More »
SEOUL (Reuters) – Hyundai Motor (005380.KS) reported its lowest monthly global sales in a decade in February as the coronavirus outbreak hurt demand, in what is the first major indicator of damage to the broader auto sector from the epidemic. It turned in a pr... More »
BEIJING/TOKYO (Reuters) – Japanese automaker Toyota plans to build a new electric vehicle plant in the Chinese city of Tianjin with its local partner FAW Group, a document from the local authorities showed. The joint venture between Toyota and FAW plans to inv... More »
SINGAPORE (Reuters) – French junior transport minister Jean-Baptiste Djebbari said on Monday that he saw no need to close down transport borders between France and Italy, despite the spread of coronavirus. “Closing down the borders would make no sense, as the ... More »
(Reuters) – Automakers including Daimler, Tesla and Ford are likely to restart production in China on Monday after being forced to shut factories for more than a week following a widespread outbreak of the coronavirus. However, some have further delayed reopen... More »
TOKYO (Reuters) – Toyota Motor Corp (7203.T) and Panasonic Corp (6752.T) have agreed to set up a joint venture that will begin developing electric vehicle (EV) batteries from April, as the Japanese companies gear up for an expected surge in demand. The new com... More »
TOKYO (Reuters) – Toyota Motor Corp unveiled an emergency safety system on Monday that uses big data to ignore the accelerator if it determines the driver steps on the pedal unintentionally. Japan’s biggest car maker will roll out what it calls an “accelerator... More »
SHANGHAI (Reuters) – China’s top electric vehicle battery maker CATL (300750.SZ) said on Monday it has signed a battery supply agreement with Tesla (TSLA.O). Tesla will determine the battery purchase volume between July 2020 and June 2022, according to its own... More »
PARIS (Reuters) – Renault’s (RENA.PA) engineering boss will meet his counterpart at Nissan (7201.T) in Japan this week, two sources close to Renault said, as the carmakers seek to revive projects crucial to an alliance left reeling by the Carlos Ghosn affair. ... More »
MILL VALLEY, California (Reuters) – Electric vehicle startup Rivian on Saturday displayed its pickup truck and SUV at an event in San Francisco’s Bay Area and said that when their prices are unveiled soon they will be lower than has been previously announced. ... More »
BERLIN (Reuters) – U.S. electric car pioneer Tesla (TSLA.O) has agreed to buy a property on the outskirts of Berlin, bringing it a step closer to opening its first European factory, local authorities said on Sunday. The U.S. carmaker last November announced pl... More »
BEIJING/SHANGHAI (Reuters) – Automakers in China need to get used to a new normal of “low speed growth” in the world’s largest car market, the country’s top auto body said on Monday, as it reiterated predictions that sales will likely shrink for the third cons... More »
BERLIN (Reuters) – The shift to electric vehicles could cost 410,000 jobs in Germany by 2030, daily Handelsblatt reported on Monday, citing government advisers. In engines and transmissions’ production alone, around 88,000 jobs will be at risk, the newspaper s... More »
SHANGHAI (Reuters) – Ford Motor Co’s (F.N) China vehicle sales fell for a third consecutive year, by 26.1%, as it battles a prolonged overall sales decline in its second-biggest market that has hit demand for its mass-market Ford brand and sports utility vehic... More »
JAKARTA (Reuters) – A coalition of trade unions will mobilize thousands of people next week to block the Indonesian government’s plan to relax restrictive labor rules, as President Joko Widodo’s administration is set to hand over a bill to parliament. The prot... More »
(Reuters) – Uber Technologies Inc on Wednesday informed its California customers that it would switch to providing estimates as opposed to fixed prices for its rides in response to a new law that makes it harder to qualify its drivers as contractors. In an ema... More »
(Reuters) – The U.S. National Highway Traffic Safety Administration (NHTSA) said on Wednesday it was launching an investigation into the Dec. 29 crash of a Tesla Model 3 that left a passenger dead after the vehicle collided with a parked fire truck in Indiana.... More »
BEIJING (Reuters) – China will lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year as Beijing looks to boost imports amid a slowing economy and a trade war with the United States. Next year, China will imple... More »
WASHINGTON (Reuters) – The U.S. auto safety agency said Friday it will investigate a 12th Tesla crash that may be tied to the vehicle’s advanced Autopilot driver assistance system after a Tesla Model 3 rear-ended a parked police car in Connecticut on Saturday.... More »
BERLIN (Reuters) – Germany’s export-dependent manufacturing sector contracted at a slower pace for the second month in a row in November, a survey showed on Monday, as companies sounded optimistic about their future business. IHS Markit’s Purchasing Managers’ ... More »
YOKOHAMA (Reuters) – Nissan Motor Co (7201.T) chief executive Makoto Uchida said on Monday that he would work to improve the automaker’s financial performance and co-operate closely with alliance partner Renault SA (RENA.PA), while maintaining Nissan’s indepen... More »
FRANKFURT (Reuters) – Tesla’s (TSLA.O) announcement earlier this month that it will build its first European factory near Berlin will draw further companies from the electric mobility and energy storage sectors into Germany, a state premier told newspaper Die ... More »
(Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk indicated in a tweet on Sunday that the electric carmaker received 200,000 orders for its electric pickup truck within three days of its launch. Musk, who has been regularly tweeting about the Cy... More »
SAO PAULO (Reuters) – Max Verstappen won a thrilling Brazilian Formula One Grand Prix for Red Bull on Sunday after the Ferraris collided and Mercedes’ six-times world champion Lewis Hamilton was demoted from third to seventh. In a race of safety cars and surpr... More »
(Reuters) – An Airbus-backed air racing tournament unveiled an electric-powered sports aircraft on Sunday, billed as the world’s first, as the European planemaker seeks to boost its green aerospace technology. Several companies, including U.S. ride-hailing com... More »
BEIJING/SHANGHAI (Reuters) – Fewer new energy vehicles (NEV) could be sold in China this year than in 2018, an official at the country’s biggest auto industry association said on Monday, as customers hold back on purchases following a government decision to cu... More »
BEIJING/SHANGHAI (Reuters) – China’s auto industry executives met with government officials over the weekend to discuss ways to promote higher car sales in rural areas, sources familiar with the matter said. The country’s car manufacturers are grappling with t... More »
(Reuters) – The United States may not need to impose tariffs on imported vehicles later this month after holding “good conversations” with automakers in the European Union, Japan and Korea, U.S. Commerce Secretary Wilbur Ross said in an interview published on ... More »
FRANKFURT (Reuters) – Germany should have one million charging stations for electric cars by 2030, Chancellor Angela Merkel said in a video message on Sunday, ahead of meetings on Monday with the car industry on how to speed the move to low-emission battery-po... More »
(This October 28 story corrects to remove erroneous reference in paragraph 6 to regulations preventing the use of autonomous trucks) DETROIT (Reuters) – Waymo Chief Executive John Krafcik said the self-driving vehicle company is now offering limited “rider-onl... More »
JAKARTA (Reuters) – Gojek CEO and co-founder Nadiem Makarim said on Monday he had resigned to join Indonesia’s cabinet, and the ride-hailing and payments company said two senior officials would jointly take over running operations of the $10 billion firm. Pres... More »
FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) has postponed the final decision whether to build a car plant in Turkey, a company spokesman said, amid international criticism of the country’s military operation in Syria and concerns about potential reputational ... More »
LONDON (Reuters) – Britain’s markets watchdog has proposed banning auto dealers and brokers from receiving commission linked to interest rates on loans used to finance car purchases, a step it said would save consumers 165 million pounds ($208.4 million) annua... More »
(Reuters) – Faraday Future founder and Chief Executive Officer Jia Yueting has filed for bankruptcy in the United States and plans to turn over his stake in the Chinese electric vehicle firm to repay his personal debts, the company said. Yueting’s plan will no... More »
FRANKFURT (Reuters) – Volvo Cars will merge its engine development and manufacturing assets with those of parent Geely, creating a division to supply in-house brands Lotus, LEVC, Lynk and Proton, and also potential rivals with next-generation combustion and hy... More »
DETROIT (Reuters) – Talks for a new four-year labor contract between General Motors Co (GM.N) and its striking workers took a “turn for the worse” on Sunday after the United Auto Workers rejected the largest U.S. automaker’s latest offer but the two sides were... More »
WASHINGTON (Reuters) – U.S. Senator and Democratic presidential candidate Kamala Harris on Friday asked a government watchdog to look into the Trump administration’s decision to launch an antitrust probe into four automakers cooperating with California on tigh... More »
FRANKFURT (Reuters) – Chinese suppliers and manufacturers have stepped up their presence at the Frankfurt auto show, capitalizing on a strong position in electric technologies forced on European carmakers by regulators seeking to curb pollution. Though the num... More »
TORONTO (Reuters) – Actors Christian Bale and Matt Damon say they have a newfound respect for racecar drivers after making “Ford v Ferrari”, based on the true story of the battle between the car makers at the 1966 Le Mans. The movie, shown at the Toronto Film ... More »
FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) will not be excluded from public sector contracts in the United States but will instead install a second U.S. monitor at its German headquarters, business daily Handelsblatt reported on Monday. The German carmaker h... More »
WASHINGTON (Reuters) – Lawyers for owners of 98,000 Volkswagen AG (VOWG_p.DE) U.S. vehicles that had fuel economy labels that overstated efficiency will ask a U.S. judge for $26 million in attorney’s fees and costs, court documents show. On Friday, the Environ... More »
(Reuters) – U.S. President Donald Trump’s next round of tariffs on Chinese imports is scheduled to take effect starting on Sunday, escalating the trade war between the world’s two largest economies with a big hit to consumer goods. Trump has targeted some $300... More »
BEIJING (Reuters) – China will exempt Tesla Inc’s (TSLA.O) electric vehicles from its purchase tax, the Ministry of Industry and Information Technology (MIIT) said on Friday, a concession made amidst trade tensions with the United States. Tesla sees China as o... More »
STUTTGART, Germany (Reuters) – Automakers around the world are pushing hard for new networks that can charge electric cars fast. In Europe, some power companies and grid operators are testing whether it might be smarter and cheaper to move into the slow lane. ... More »
TOKYO (Reuters) – Japanese Economy Minister Toshimitsu Motegi said on Tuesday he did not think U.S.-Japan trade talks would result in an outcome that would cause concern for Japanese automakers. Motegi made the remarks to reporters in Tokyo after the United St... More »
BIARRITZ, Belgium (Reuters) – France on Monday issued a short statement at the end of a meeting of G7 leaders on several issues, but it was not a communique along the lines of those usually drawn up at the annual summit, reflecting divisions. The issues were t... More »
LONDON (Reuters) – Uber (UBER.N) appointed a new boss for Britain and Ireland on Monday just over a month before its licence expires in London, one of its most important global markets where the regulator has previously stripped it of its right to operate. Tra... More »
BEIJING (Reuters) – Sales of new energy vehicles (NEVs) in China fell 4.7% in July from a year earlier, the first drop in more two years, data from the country’s biggest auto industry association showed. That compared with growth of 80% in NEV sales in June. O... More »
LAS VEGAS (Reuters) – At a conference where hackers can try their hand at picking locks and discover cyber vulnerabilities in a makeshift hospital, they can also endeavor to break into the control units of cars and take over driving functions. Those efforts at... More »
MOSCOW (Reuters) – A Tesla Model 3 electric car caught fire after crashing into a parked tow truck on a Moscow motorway late on Saturday, with the Tesla driver saying he had failed to see the vehicle with which he collided. Asked in a video published on REN TV... More »
WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said his administration would not grant Apple Inc any relief for tariffs on parts made in China for its Mac Pro computer and later added he thought the firm would build a plant in Texas. “Apple will ... More »
BEIJING (Reuters) – China’s economic growth slowed to 6.2% in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting U.S. trade pressure. While more upbeat June factory output and retail sales o... More »
LONDON (Reuters) – Valtteri Bottas says he will be looking at the ‘man in the mirror’ to find a way to beat Mercedes team mate Lewis Hamilton after falling further behind the runaway Formula One leader in Britain. The Finn was fastest in Friday practice and st... More »
LEIPZIG, Germany (Reuters) – Volkswagen (VOWG_p.DE) will create joint ventures and help finance battery production to persuade skeptical cell suppliers to back its aggressive push for mass producing electric vehicles, board member Stefan Sommer told Reuters. V... More »
(Reuters) – Cruise, a U.S. self-driving vehicle company majority-owned by General Motors Co, told Reuters on Friday that a U.S. national security panel approved a $2.25 billion investment in the firm by Japan’s SoftBank Corp. SoftBank has come under increasing... More »
MUMBAI/NEW DELHI (Reuters) – India proposed tax waivers on Friday on the purchase of electric vehicles and removed import taxes on some auto components to help boost sales and reduce its dependence on fossil fuels. India, the world’s third-biggest emitter of g... More »
