Saturday, September 18

Automobile

Automobile

Elon Musk praises Chinese automakers amidst regulatory scrutiny
Automobile

Elon Musk praises Chinese automakers amidst regulatory scrutiny

An unusually scripted Elon Musk issued conciliatory and complimentary comments to Chinese automakers during a pre-recorded appearance at China’s World New Energy Vehicle Congress, striking a pose that is worlds away from his commentary style in the United States. “I have a great deal of respect for the many Chinese automakers for driving these [EV and AV] technologies,” he said, the reflection of a ring light just visible in the window over his left shoulder. The entire tableau was enough to make one suspect that there was a crisis communications expert just out of frame, urging him to continue with his prepared remarks. Then again, perhaps Musk doesn’t need any external coaxing; China is one of the most lucrative markets for electric vehicles in the entire world, accounting for aroun...
How the Le Mans hydrogen racer is shaping up
Automobile

How the Le Mans hydrogen racer is shaping up

Enlarge / GreenGT's prototype hydrogen-powered racer.Dhananjay KhadilkarAround 400 meters from the buzz of the paddock during this year's 24 Hours of Le Mans stood a tent with two racing cars and a mobile fueling station. Every now and then, people wearing blue T-shirts bearing the logo of "Mission H24" would walk by the cars to attend meetings in a motor home sitting next to the tent. One of those people was François Granet of the Franco-Swiss company GreenGT. He appeared particularly thrilled because, on the eve of the start of this year's race, the ACO (Automobile Club de l'Ouest), which organizes the 24 Hours of Le Mans, announced a new category of race cars at the Le Mans event for 2025: hydrogen-electric prototypes. The company's forerunners were...
India approves $3.5 billion incentive scheme for auto sector, drones – Reuters
Automobile

India approves $3.5 billion incentive scheme for auto sector, drones – Reuters

NEW DELHI, Sept 15 (Reuters) - India's cabinet on Wednesday approved an incentive scheme for the automobile sector, aimed at boosting production of electric and hydrogen fuel-powered vehicles, and to promote the manufacture of drones.The government will give about 260 billion rupees ($3.54 billion) in incentives to auto companies and drone manufacturers over a five-year period, Anurag Thakur, minister of information and broadcasting, told reporters."The incentive scheme has been designed to help India become a global player in the automobile sector," Thakur said, adding that it will also boost the country's efforts to increase local manufacturing.The production-linked incentive scheme is expected to help attract new investment of about 425 billion rupees in the auto sector and 50 billion r...
Indias Nifty 50 hits record high as auto, energy stocks jump – Reuters India
Automobile

Indias Nifty 50 hits record high as auto, energy stocks jump – Reuters India

Clouds are seen over the Bombay Stock Exchange (BSE) building in Mumbai, India May 25, 2016. REUTERS/Danish SiddiquiBENGALURU, Sept 15 (Reuters) - India's Nifty 50 index hit an all-time high on Wednesday, boosted by energy stocks, while automobile and telecom shares climbed on local media reports that the government was considering incentives and financial relief for the sectors.The blue-chip NSE Nifty 50 index (.NSEI) was up 0.46% at 17,459.05 by 0510 GMT, having hit a record high of 17,641.50 earlier. The benchmark S&P BSE Sensex (.BSESN) rose 0.47% to 58,579.86.Energy stocks (.NIFTYENR) added more than 1%, driven by Oil and Natural Gas Corp's (ONGC.NS) 5.5% jump to a near two-year high. The stock was also the top gainer on the Nifty 50.Auto stocks (.NIFTYAUTO) advanced 0.7% after lo...
Indias Nifty 50 hits record high as auto, energy stocks jump – Reuters
Automobile

Indias Nifty 50 hits record high as auto, energy stocks jump – Reuters

BENGALURU, Sept 15 (Reuters) - India’s Nifty 50 index hit an all-time high on Wednesday, boosted by energy stocks, while automobile and telecom shares climbed on local media reports that the government was considering incentives and financial relief for the sectors.The blue-chip NSE Nifty 50 index was up 0.46% at 17,459.05 by 0510 GMT, having hit a record high of 17,641.50 earlier. The benchmark S&P BSE Sensex rose 0.47% to 58,579.86.Energy stocks added more than 1%, driven by Oil and Natural Gas Corp’s 5.5% jump to a near two-year high. The stock was also the top gainer on the Nifty 50.Auto stocks advanced 0.7% after local media reported here that the government would likely consider production-linked incentive scheme for specific segments of the sector in a cabinet meeting on Wednesd...
Indian shares rise on auto, telecom boost ahead of cabinet meeting – Reuters
Automobile

Indian shares rise on auto, telecom boost ahead of cabinet meeting – Reuters

Clouds are seen over the Bombay Stock Exchange (BSE) building in Mumbai, India May 25, 2016. REUTERS/Danish SiddiquiBENGALURU, Sept 15 (Reuters) - Indian shares edged higher on Wednesday, boosted by gains in some energy stocks, while automobile and telecom companies jumped after local media reported that the government was considering incentives and financial relief for the sectors.The blue-chip NSE Nifty 50 index (.NSEI) was 0.19% higher at 17,412.60 by 0355 GMT, and the benchmark S&P BSE Sensex (.BSESN) rose 0.18% to 58,358.53.Auto stocks (.NIFTYAUTO) rose 0.47% on reports that the government would likely consider production-linked incentive scheme for specific segments of the sector in a cabinet meeting.Debt-laden telecom company Vodafone Idea (VODA.NS) advanced about 3% and bigger ...
Indian shares end higher on auto, banking gains; Zee soars – Reuters
Automobile

Indian shares end higher on auto, banking gains; Zee soars – Reuters

BENGALURU, Sept 14 (Reuters) - Indian shares edged up on Tuesday as automobile and banking stocks rose, while Zee Entertainment logged record gains after top investors called a shareholder meet for a management reshuffle.The blue-chip NSE Nifty 50 index (.NSEI) ended up 0.14% at 17,380, having hit a record high at 17,438.55 earlier in the session, while the benchmark S&P BSE Sensex (.BSESN) closed 0.12% higher at 58,247.09.Indian equities have hovered near record highs and outperformed Asian peers so far this year as central banks pumped money into the COVID-ravaged economies and as most domestic pandemic-related restrictions have been lifted.Zee Entertainment Enterprises (ZEE.NS) registered its best trading session ever, soaring 40%, after its biggest shareholders called for a special...
The Station: Apple car shakeup, how Sept. 11 changed travel, and a pledge from airlines
Automobile

The Station: Apple car shakeup, how Sept. 11 changed travel, and a pledge from airlines

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox. Hi readers: Welcome to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B. Twenty years and one week ago, I was riding the monorail system at the Newark airport and pointed to the twin skyscrapers looming in the distance. “I can’t believe you’ve never been to the top of the World Trade Center,” I said to my then fiancé and now husband. Days later, I would walk into a restaurant in a Slovenian town and see a report on the TV about a plane crashing into one of those towers. Like so many of us, we spent the rest of that day watching the news and wondering what w...
China’s WeRide unveils Robovan, its first electric, autonomous cargo van
Automobile

China’s WeRide unveils Robovan, its first electric, autonomous cargo van

Chinese autonomous driving company WeRide has unveiled its first cargo van, the vessel upon which it will self-drive into the world of urban logistics. WeRide will work with Chinese automobile manufacturer Jiangling Motors (JMC) and Chinese express delivery company ZTO Express to commercialize its first self-driving van at scale. The deal was signed on Wednesday by Tony Han, founder and CEO of WeRide, Wenhui Jin, executive vice president of JMC, and Renqun Jin, vice president of ZTO, during WeRide’s latest online press conference dubbed “The Next.” As part of the agreement, WeRide and JMC will jointly design purpose-built models of the Robovan for mass production on JMC’s assembly lines, and ZTO will put the Robovans to good use in their urban logistics service, ac...
Mexico wants talks with United States over auto content rules in trade pact – Reuters
Automobile

Mexico wants talks with United States over auto content rules in trade pact – Reuters

MEXICO CITY, Aug 20 (Reuters) - Mexico sought formal consultation with the United States on Friday over the interpretation and application of tougher content rules for automobiles set out in the USMCA trade pact.In May, Mexico voiced disagreement over the issue in a three-way online virtual meeting when it cited differences with the United States methods. Canada and Mexico use more flexible interpretations. read more "Mexico has identified a divergent position between our governments on the interpretation of ... provisions on rules of origin for the automotive sector," Economy Minister Tatiana Clouthier said in a letter.In her letter on Friday to U.S. Trade Representative Katherine Tai, Clouthier said Mexico wanted to avoid or resolve a possible dispute.The United States-Mexico-Canada Agr...