Chinese electric vehicles start at less than $10,000; in the U.S., automakers offer just a few under $35,000. On the outskirts of this city of 21 million, a showroom in a shopping mall offers extraordinary deals on new cars. Visitors can choose from some 5,000 vehicles. Locally made Audis are 50 per cent off. A… Continue reading China is sending its world-beating auto industry into a tailspin
Author: Economic Times of India Online News
China’s car glut fuels fire-sale discounts, gray markets and auto graveyards
These deals are offered by a company called Zcar, which says it buys in bulk from automakers and dealerships. On the outskirts of this city of 21 million, a showroom in a shopping mall offers extraordinary deals on new cars. Visitors can choose from some 5,000 vehicles. Locally made Audis are 50 per cent off.… Continue reading China’s car glut fuels fire-sale discounts, gray markets and auto graveyards
US to consider new national security tariffs on auto parts
US President Donald Trump The US Commerce Department said Tuesday it will consider industry requests to impose tariffs on additional imported auto parts in the coming weeks on national security grounds. In May, Trump imposed 25 per cent auto tariffs on more than $460 billion worth of imports of vehicles and auto parts annually, but… Continue reading US to consider new national security tariffs on auto parts
US manufacturing output unexpectedly rises on rebound in motor vehicle production
Motor vehicle and parts production rebounded 2.6 per cent last month after declining 0.7 per cent in July. US factory production unexpectedly increased in August amid a rebound in the output of motor vehicles and some nondurable goods, though tariffs continued to cast a shadow over the manufacturing sector. Manufacturing output rose 0.2 per cent… Continue reading US manufacturing output unexpectedly rises on rebound in motor vehicle production
Banks see car loan cancellations as customers await GST-driven price drops
Menon stated that the tax cut is expected to widen mobility access and inject fresh momentum into the automotive sector during the upcoming festive season. As the date for the implementation of Goods and Services Tax (GST) rate cut comes close, many potential vehicle buyers deferred purchases in anticipation of lower prices. Not only the… Continue reading Banks see car loan cancellations as customers await GST-driven price drops
Self-healing polymer by IIT-Bhilai team to boost safety for EVs & aerospace sectors
The researchers used a low-cost, scalable method to create the polymer, making it suitable for industrial use. Researchers at the Indian Institute of Technology (IIT), Bhilai, have developed a self-healing polymer that can repair itself at room temperature. The breakthrough material, described as “impact-resistant,” could enhance the safety and longevity of electric vehicles, aircraft, and… Continue reading Self-healing polymer by IIT-Bhilai team to boost safety for EVs & aerospace sectors
Auto exports to South Korea rise over 8% in August despite US tariffs
South Korea’s car exports rose 8.6% in August, driven by strong EV demand in Europe despite US tariffs. South Korea’s car exports increased 8.6 per cent from a year earlier in August despite US tariffs, thanks to robust demand for electric vehicles (EVs) in Europe, data showed on Tuesday. The value of outbound shipments of… Continue reading Auto exports to South Korea rise over 8% in August despite US tariffs
Ford is moving its world headquarters for the first time in 7 decades to a new campus 3 miles away
Ford’s new home base is on the site of the former Product Development Center. The venerable carmaker is moving its headquarters for the first time in seven decades, relocating to a newly constructed building 3 miles (5 kilometers) away in its longtime home of Dearborn, Michigan. The new 2.1-million-square-foot (195,096-square meter) structure formally will be… Continue reading Ford is moving its world headquarters for the first time in 7 decades to a new campus 3 miles away
Tesla’s stock is rising as Elon Musk buys more than 2.5M shares worth about $1 bn
The move may be viewed by the markets as the billionaire remaining confident in the company’s future. Tesla’s stock is climbing Monday as CEO Elon Musk disclosed the purchase of more than 2.5 million shares worth approximately $1 billion. Shares of the electric vehicle maker rose 3.6 per cent to $410.04 each. Musk purchased various… Continue reading Tesla’s stock is rising as Elon Musk buys more than 2.5M shares worth about $1 bn
JSW MG Motor India pushes for stronger academia-industry linkages to bridge skill gap
To address the gap between academia and industry, the company has partnered with around 25 universities across the country. New Delhi: With a persisting wide gap between classroom learning and industry requirements in the country, JSW MG Motor India has called for a stronger academia-industry collaboration to bridge the gap, even as the rise of… Continue reading JSW MG Motor India pushes for stronger academia-industry linkages to bridge skill gap