Representative Image BEIJING/SHANGHAI: A shortage of certain auto chips may start to have a big impact on car production at some Chinese companies in the first quarter next year, a senior industry executive said on Tuesday, which may cast a shadow over the global auto sector’s recovery. Automobiles have become increasingly dependent on chips –… Continue reading Chip supply crunch likely to hit China’s auto output in Q1 2021: industry body
Author: Economic Times of India Online News
Daimler board backs strategy, staff fund planned
File Image BERLIN: The supervisory board of German automaker Daimler agreed on Thursday to back a strategic plan to cut fixed costs, capex and R&D spending and announced a new transformation fund for staff worth 1 billion euros ($1.22 billion) up until 2025. Daimler said in a statement that the supervisory board had given its… Continue reading Daimler board backs strategy, staff fund planned
Germany scraps renewable fee on green hydrogen to encourage new technology
The government also intends to monitor effects of the measure in 2022 and look into further activities to boost green electricity in power systems. BERLIN: Germany‘s government on Wednesday lifted a charge levied on power prices to support renewable energy for producers of so-called green hydrogen, part of a bid to encourage the nascent technology… Continue reading Germany scraps renewable fee on green hydrogen to encourage new technology
General Motors Co sent back to drawing board after most South Korea union members reject labour deal
SEOUL: General Motors Co, which has long struggled with labour relations in South Korea, will have to renegotiate a preliminary labour deal after a majority of union members voted against it. Only about 45% of members were in favour of an agreement reached with union negotiators last week for each member to receive a lump… Continue reading General Motors Co sent back to drawing board after most South Korea union members reject labour deal
Setco Automotive CFO Vinay Shahane passes away
File Image New Delhi: Setco Automotive on Wednesday said its long-time chief financial officer Vinay Shahane passed away on November 23. “We regret to inform you of the sudden and sad demise of Mr. Vinay Shahan, Vice President and CFO of the company. Mr. Shahane’s sudden and unexpected passing away will be an irreparable loss… Continue reading Setco Automotive CFO Vinay Shahane passes away
Cars24 raises new funds led by DST Global, valuation hits $1 billion
Online used car marketplace Cars24 has secured $200 million Series E financing led by existing investor DST Global at a post-money valuation of just over $1 billion, doubling from $500 million when it had raised $100 million financing in October last year. The financing round also catapults the company into the unicorn club, becoming the… Continue reading Cars24 raises new funds led by DST Global, valuation hits $1 billion
US safety agency seeks input on autonomous vehicle rules
So far the NHTSA has taken a voluntary approach to autonomous vehicles without standards and regulations. DETROIT – The U.S. government’s road safety agency is asking for public comment on how it should regulate safe deployment of self-driving vehicles. Seeking public comment is an early step in drawing up possible regulations, but that process takes… Continue reading US safety agency seeks input on autonomous vehicle rules
CEO Scott Wine to leave Polaris Inc to lead CNH Industrial
Wine will remain in his current role at Polaris through the end of the year. New Delhi: Polaris Inc on Wednesday announced that Chairman and CEO Scott Wine will leave the company to assume the CEO role at CNH Industrial, the maker of Case and New Holland agricultural equipment. Wine joined Polaris in 2008 as… Continue reading CEO Scott Wine to leave Polaris Inc to lead CNH Industrial
Nissan’s UK business tough to sustain without Brexit trade deal – COO Gupta
File Image By Tim Kelly and David Dolan TOKYO: Any final exit by Britain from the European Union that worsens business conditions through increased tariffs would threaten the sustainability of Nissan Motor Co’s UK operations, the Japanese car maker’s chief operating officer (COO) cautioned. Nissan, which employs 7,000 people at Britain’s biggest auto plant in… Continue reading Nissan’s UK business tough to sustain without Brexit trade deal – COO Gupta
Tritium launches new ‘scalable’ EV charging platform
Europe is Tritium’s fastest-growing market. (Representative Image) LONDON: Electric vehicle charging station maker Tritium said on Tuesday it is launching a new “scalable” platform so its customers can expand stations to charge more cars at once or change the speed at which they provide a charge. The new charging platform will hit the market in… Continue reading Tritium launches new ‘scalable’ EV charging platform