Page 10 - Automobile Manufacturer

Tesla's plan for affordable cars follows playbook of its Detroit rivals

Tesla said the change would allow the company to launch low-cost vehicles swiftly but would result in smaller cost reduction than had been expected and modest volume growth

Donald Petersen, CEO who pulled Ford out of 1980s crisis, dies at 97

Under Petersen, Ford's ad slogan became 'Quality is Job One'

Why future of cars does not look electrified

Electric cars, despite a goods and services tax (GST) rate of 5 per cent, are a shade above 2 per cent of all cars sold

Proxy firms give up a thumbs up to Tata Motors DVR conversion plan

Move, they say, will simplify capital structure and eliminate price discount

Tesla stock jumps as Musk's promise of 'affordable' cars eases growth fears

"We read 'more affordable' as potentially de-contented Model Y/Model 3 versions with improvements in software and AI/hardware capability, but at lower prices," Morgan Stanley analyst Adam Jonas said

Tesla to lay off nearly 2,700 employees in Texas factory, says report

The notice on Monday was issued under the WARN Act, a U.S. labor law that requires companies with 100 or more employees to notify 60 days ahead of planned closings or mass layoffs

Tesla shares rise 2.3% to $145 in early trading ahead of quarterly results

The stock was up 2.3% at $145.34 in volatile early trading ahead of the report, due after the closing bell

Volkswagen rolls out two new variants of sports utility vehicle Taigun

German automaker Volkswagen has rolled out two new variants of its popular sports utility vehicle Taigun, the company said on Tuesday. Widening its product portfolio, the company has launched Taigun GT Line equipped with a 1.0L TSI engine at Rs 14.08 lakh, while the Taigun GT Plus Sport 1.5L TSI will be available at Rs 18.53 lakh, both ex-showroom prices. The two new variants were formally unveiled at the Volkswagen Annual Brand Conference which showcased its all-electric vehicle ID.4 in March. "The Volkswagen GT badge is an aspirational cornerstone that evokes the unmatched feeling of sporty driving. We are delighted to introduce the all-new Taigun GT Line and Taigun GT Plus Sport for Indian buyers," the company's Brand Director Ashish Gupta said. The aesthetic treatment of these new variants would create a differentiated value proposition, with Taigun showcasing a sportier and robust appeal, he said. The Taigun GT Line is powered by a 1.0-litre TSI Engine and it is available wi

Hero MotoCorp opens assembly facility with 75,000 units capacity in Nepal

Two-wheeler major Hero Motocorp on Sunday said it has opened an assembly facility in Nepal in partnership with its distributor CG Motors. The facility will have a capacity of 75,000 units per annum and will bring new investments and create job opportunities in the region, Hero MotoCorp said in a statement. Four products - - Xpulse 200 4V, Super Splendor, Splendor+ motorcycles and Xoom 110 scooter -- which have been launched in the country - - will be assembled locally at the new assembly facility located in CG Industrial Park in Nawalparasi, it added. "This is an exciting development for us, CG Motors and for Nepal. The state-of-the-art assembly unit will ensure that our world-class products will now be made in Nepal and available to customers across the country," Hero Motocorp Chief Business Officer - Global Business Unit, Sanjay Bhan said. He further said, "The rapid expansion of the sales and service network will enable us to entrench the market with our world-class products and

Tesla cuts price of Full Self-Driving software by a third to $8,000

Earlier this month, Musk said Tesla will unveil its robotaxis on Aug. 8, after Reuters reported Tesla had scrapped its inexpensive, mass-market car in favour of robotaxis

Electric vehicle plant to spacetech: All eyes on X ahead of Elon Musk visit

Elon Musk is expected to meet PM Narendra Modi and announce that Tesla will set up a car and battery plant in India. He may push plans to launch Starlink's broadband services

Daimler India to enter battery electric segment with new gen eCanter

Daimler India Commercial Vehicles on Wednesday said it plans to foray into the domestic battery electric segment with the launch of the all-electric next-generation light duty truck eCanter in the next 6-12 months. The all-new next-generation eCanter had its world premiere in Japan and Europe in the second half of 2022. "The launch of the all-electric eCanter in India, within the next 6 to 12 months, is the first step in our long-term strategy to decarbonise our entire product portfolio," Daimler India Commercial Vehicles (DICV) MD and CEO Satyakam Arya said in a statement. However, the reality is that diesel ICE and carbon dioxide neutral propulsion technologies will continue to co-exist in the Indian market for the foreseeable future, he added. "A long-term plan like ours hinges on many complex external factors, some of which are, the availability of a charging and refuelling infrastructure, the availability of green energy, cost parity and wide-scale customer acceptance," Arya .

Tesla plans to lay off more than 10% of its staff amid softening demand

The world's largest automaker by market value had 140,473 employees globally as of December 2023, its latest annual report shows

BP's electric vehicle charging arm reduces over a tenth of workforce

The move comes as automakers across the world tighten their belts amid a slower than expected uptake of EVs

Honda Motors commences work for new warehouse facility in Karnataka

Japanese firm Honda on Monday said it has commenced work for a spare parts warehouse facility in Doddaballapura near Bengaluru, Karnataka. Managed by Honda Cars India, the new facility will support the spare parts operations for all Honda businesses, including Honda Cars India, Honda Motorcycle & Scooter India, and Honda India Power Products, the company said in a statement. The upcoming facility, which will be operational by the first quarter of FY26, will play an important role in the faster availability of spare parts at Honda dealerships, it added. "This is in line with our commitment towards our customers for providing timely and quicker availability of spare parts for their Honda products," Honda Cars India President and CEO Takuya Tsumura stated. The new facility will not only enhance spare parts accessibility in the southern region of the country but also pave the way for future requirements amid rapid electrification, he added. The development project of the facility will

EVs head for junkyard as mechanic shortage inflates repair costs in UK

Once there are more fully trained EV technicians, repair rather than replace becomes a more viable proposition, an expert said

US govt opens investigation into Ford recall for Bronco gasoline leaks

The US government's auto safety agency has opened an investigation into a Ford recall for gasoline leaks from cracked fuel injectors that can cause engine fires, saying in documents that the remedy doesn't fix the leaks. The National Highway Traffic Safety Administration said in documents posted on Friday that the probe will evaluate the adequacy and safety consequences of the remedy that Ford specifies in the recall. The agency moved with unusual speed, posting documents detailing the recall query just two days after the recall was made public. The recall covers nearly 43,000 Ford Bronco Sport SUVs from the 2022 and 2023 model years, and Escape SUVs from 2022. All have 1.5-litre engines. NHTSA said that fuel injectors can crack, causing gasoline or vapours to leak at a high rate onto hot surfaces in the engine compartment. The Associated Press reported on Wednesday that Ford's remedy for the leaks is to add a drain tube to send the gas away from hot surfaces, and a software updat

Passenger vehicle wholesales up 8.4% at 4,218,746 units in FY24: Siam

Passenger vehicle wholesales in India rose by 8.4 per cent year-on-year to 42,18,746 units in financial year 2023-24, industry body SIAM said on Friday. The overall passenger vehicle dispatches stood at 38,90,114 units in fiscal year 2022-23. Two-wheeler sales were up 13.3 per cent last fiscal at 1,79,74,365 units, as compared to 1,58,62,771 units in the financial year 2022-23. Vehicle sales across categories rose by 12.5 per cent to 2,38,53,463 units in the period under review, as against 2,12,04,846 units in fiscal year 2022-23.

BMW EV sales surge in Q1 even as rivals struggle with weak demand

Customer deliveries of battery-powered models such as BMW's i4, iX1 and i7 jumped 41% in the three months through March compared to the same period last year, the company said Wednesday

Muted exports for auto sector in FY25 amid weak overseas demand: Ind-Ra

A slowdown in demand from both domestic commercial vehicle manufacturers and subdued exports could limit revenue growth to a range of 6-8 per cent year-over-year