In the first half of 2024, nearly 40,000 cars were exported to the U.S., according to the Mexican Automotive Manufacturers Association. U.S. President Trump said he could impose 25% tariffs on Canada and Mexico from Feb. 1, sending shares of several Asian automakers and battery firms lower in trading on Tuesday. Here are companies that… Continue reading Global companies likely to be affected by Trump’s promised tariffs
Author: Economic Times of India Online News
Asian car and battery makers hit as Trump gets to work
Japanese finance minister Katsunobu Kato on Tuesday said the country would respond “appropriately” after examining the new president’s policies. Shares of Japanese automakers and South Korean battery makers were hit on Tuesday, after U.S. President Donald Trump said he could impose tariffs on Canada and Mexico soon and revoked the previous administration’s executive order on… Continue reading Asian car and battery makers hit as Trump gets to work
Trump revokes Biden 50% EV target, freezes unspent charging funds
His order said Trump’s administration should consider “the elimination of unfair subsidies and other ill-conceived government-imposed market distortions that favor EVs over other technologies and effectively mandate their purchase.” U.S. President Donald Trump on Monday took aim at electric vehicles, revoking a 2021 executive order signed by his predecessor Joe Biden that sought to ensure… Continue reading Trump revokes Biden 50% EV target, freezes unspent charging funds
Unpaid traffic challans: RLA to crack down on violators
It was decided by the Chandigarh administration that notice will be served to the violators having 5 or more unpaid challans, requiring them to pay compounding dues within 15 days. Over the past 2-3 years, Chandigarh saw a sharp rise in unpaid traffic violations, which is a grave cause for concern, calling for immediate attention.… Continue reading Unpaid traffic challans: RLA to crack down on violators
Vehicle scrappage policy and EV push vital for India’s circular economy: Union minister Bhupender Yadav
He also noted the government’s push for electric vehicles (EVs) through FAME and PLI schemes, with EV sales projected to reach 35% of total vehicle sales by 2030, potentially avoiding 5 metric tonnes of CO2 emissions annually. Union minister for environment, forest and climate change Bhupender Yadav emphasized the importance of transitioning to a circular… Continue reading Vehicle scrappage policy and EV push vital for India’s circular economy: Union minister Bhupender Yadav
EV sales must reach 50 pc by 2030 to achieve net zero goal: Bhupender Yadav
Yadav mentioned that though EVs are environment-friendly as they do not emit pollutants, it is important to note that their batteries are charged by electricity. Union Environment Minister Bhupender Yadav said on Monday that electric vehicles should make up 50 per cent of all vehicle sales by 2030 to ensure the automotive sector stays on… Continue reading EV sales must reach 50 pc by 2030 to achieve net zero goal: Bhupender Yadav
UK’s Pod Point Group warns of 2024 revenue miss on weak EV demand
“We made good progress on our costs but the weaker-than-expected private EV market has negatively impacted revenues,” CEO Melanie Lane said in a statement. Electric Vehicle charging point provider Pod Point Group warned of lower-than-expected results this year and cut its 2024 revenue forecast on Monday, due to weaker EV demand. Britain faces a dual… Continue reading UK’s Pod Point Group warns of 2024 revenue miss on weak EV demand
Rupee tracks Asian peers higher; volatility expectations at 17-month peak
“The RBI appears to now be allowing for more FX flexibility (especially to the upside) to slow the drain on its FX reserves,” Nomura said in a note. The Indian rupee was boosted by gains in most regional currencies on Monday, while expectations of near-term volatility climbed to a 17-month high ahead of Donald Trump’s… Continue reading Rupee tracks Asian peers higher; volatility expectations at 17-month peak
British startup gets USD 122 million funding for green charging stations
Aegis plans to build a total of up to 30 stations by 2030, it said. Britain’s Aegis Energy has secured a 100 million pound (USD 122 million) investment from private equity firm Quinbrook Infrastructure Partners to build five multi-energy filling stations for commercial vehicles, the startup said on Monday. Seeking to cut emissions, but also… Continue reading British startup gets USD 122 million funding for green charging stations
US agency sues two automakers, alleging discrimination and harassment
The GM and UAW lawsuit seeks to recoup benefits that workers ages 66 and older deserved but never received, while the FCA lawsuit seeks compensatory and punitive damages for female employees at the Detroit plant. The U.S. Equal Employment Opportunity Commission on Friday sued two large automakers, accusing General Motors and the United Auto Workers… Continue reading US agency sues two automakers, alleging discrimination and harassment