The Saudi Arabia of Lithium Has a Calming Message for Car Makers

    

Photographer: Cristobal Olivares/Bloomberg

The nation sitting on half the world’s lithium reserves has a calming message for electric car makers: tougher environmental oversight won’t threaten future production of the metal used to make batteries.

Chile’s environmental regulator is working with other agencies to devise a plan for strengthening supervision of mining companies that pump out hundreds of liters a second of lithium-laced brine from beneath the Atacama salt flat. Under pressure from investors and customers, miners are already investing millions to reduce their footprint and they too say that shouldn’t constrain output.

While the main objective is to mitigate the impact on the fragile ecosystem and local communities, the new integrated approach to oversight shouldn’t jeopardize production in an era in which sustainability is a starting point, said Cristobal de La Maza, who heads the agency known as SMA. The Chilean expansion plans of Albemarle Corp.

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India To Offer $4.6 Billion In Incentives To Local EV Battery Makers


The Indian government plans to offer $4.6 billion in incentives to companies that establish battery manufacturing facilities for electric vehicles in the country.

A proposal drafted by the Niti Aayog think tank that is chaired by Prime Minister Narendra Modi reveals that the country could slash import bills by as much as $40 billion by 2030 if electric vehicles are to become widely adopted.

Reuters adds that this think tank has recommended incentives of $4.6 billion by 2030 for companies manufacturing batteries in the country. This would start with cash and infrastructure incentives of $122 million in the first financial year that would be ratcheted up annually.

Read Also: Not A Single New Car Was Sold In India Last Month

The plan would see India retain its import tax rate of 5 per cent for certain types of batteries, including those for electric vehicles, until 2022. After that date, it

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Auto makers get some momentum in September as dealers gear up for festive season

MUMBAI: The market expects automobile sales to have recovered further in September.

In the run-up to the festival season, original equipment manufacturers are restocking inventory at the dealers’ end. Channel checks show that among vehicle categories, inventory build-up is relatively better for two wheelers, passenger vehicles, and tractors. On the other hand, commercial vehicles and three-wheelers are likely to remain the laggards.

“Our interaction with leading industry channel partners indicates two-wheeler inventory has reached 30–45 days on the expectation that sales momentum would continue into the festive season and passenger vehicles inventory would sustain at a comfortable level of 20–30 days. Inquiries were encouraging and better than last year,” Motilal Oswal Securities Ltd said in a report on 30 September.

The broking house expects wholesales in September to grow on a year-on-year basis for all segments barring medium and heavy commercial vehicles (M&HCV). It said, low starting inventory, a low

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India plans $4.6 billion in incentives to lure EV battery makers

The Mahindra Funster electric concept vehicle is displayed at Auto Expo 2020 in February 2020 in Greater Noida, India. (Getty Images)



a car on display



 

NEW DELHI — India plans to offer $4.6 billion in incentives to companies setting up advanced battery manufacturing facilities as it seeks to promote the use of electric vehicles and cut down its dependence on oil, according to a government proposal seen by Reuters.

A proposal drafted by NITI Aayog, a federal think tank chaired by Prime Minister Narendra Modi, said India could slash its oil import bills by as much as $40 billion by 2030 if electric vehicles were widely adopted.

The proposal is likely to be reviewed by Modi’s cabinet in the coming weeks, said a senior government official, who was not authorized to comment on the matter and declined to be identified. NITI Aayog and the Indian government did not respond to requests for comment.

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Exclusive: India plans $4.6 billion in incentives for battery makers in electric vehicle push- document

NEW DELHI (Reuters) – India plans to offer $4.6 billion (3.6 billion pounds) in incentives to companies setting up advanced battery manufacturing facilities as it seeks to promote the use of electric vehicles and cut down its dependence on oil, according to a government proposal seen by Reuters.

FILE PHOTO: Tata Motors’ electric sport-utility vehicle Nexon EV is displayed during its launch in Mumbai, India, January 28, 2020. REUTERS/Hemanshi Kamani/File Photo

A proposal drafted by NITI Aayog, a federal think tank chaired by Prime Minister Narendra Modi, said India could slash its oil import bills by as much as $40 billion by 2030 if electric vehicles were widely adopted.

The proposal is likely to be reviewed by Modi’s cabinet in the coming weeks, said a senior government official, who was not authorised to comment on the matter and declined to be identified. NITI Aayog and

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Exclusive: India plans $4.6 billion in incentives for battery makers in electric vehicle push – document

NEW DELHI (Reuters) – India plans to offer $4.6 billion in incentives to companies setting up advanced battery manufacturing facilities as it seeks to promote the use of electric vehicles and cut down its dependence on oil, according to a government proposal seen by Reuters.

FILE PHOTO: Tata Motors’ electric sport-utility vehicle Nexon EV is displayed during its launch in Mumbai, India, January 28, 2020. REUTERS/Hemanshi Kamani/File Photo

A proposal drafted by NITI Aayog, a federal think tank chaired by Prime Minister Narendra Modi, said India could slash its oil import bills by as much as $40 billion by 2030 if electric vehicles were widely adopted.

The proposal is likely to be reviewed by Modi’s cabinet in the coming weeks, said a senior government official, who was not authorised to comment on the matter and declined to be identified. NITI Aayog and the Indian government

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Exclusive: India Plans $4.6 Billion in Incentives for Battery Makers in Electric Vehicle Push – Document | Investing News

By Neha Arora and Aftab Ahmed

NEW DELHI (Reuters) – India plans to offer $4.6 billion in incentives to companies setting up advanced battery manufacturing facilities as it seeks to promote the use of electric vehicles and cut down its dependence on oil, according to a government proposal seen by Reuters.

A proposal drafted by NITI Aayog, a federal think tank chaired by Prime Minister Narendra Modi, said India could slash its oil import bills by as much as $40 billion by 2030 if electric vehicles were widely adopted.

The proposal is likely to be reviewed by Modi’s cabinet in the coming weeks, said a senior government official, who was not authorised to comment on the matter and declined to be identified. NITI Aayog and the Indian government did not respond to requests for comment.

The think tank recommended incentives of $4.6 billion by 2030 for companies manufacturing advanced batteries,

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EXCLUSIVE-India plans $4.6 bln in incentives for battery makers in electric vehicle push -document

By Neha Arora and Aftab Ahmed

NEW DELHI, Sept 25 (Reuters)India plans to offer $4.6 billion in incentives to companies setting up advanced battery manufacturing facilities as it seeks to promote the use of electric vehicles and cut down its dependence on oil, according to a government proposal seen by Reuters.

A proposal drafted by NITI Aayog, a federal think tank chaired by Prime Minister Narendra Modi, said India could slash its oil import bills by as much as $40 billion by 2030 if electric vehicles were widely adopted.

The proposal is likely to be reviewed by Modi’s cabinet in the coming weeks, said a senior government official, who was not authorised to comment on the matter and declined to be identified. NITI Aayog and the Indian government did not respond to requests for comment.

The think tank recommended incentives of $4.6 billion by 2030 for companies

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Mobileye signs driver-assistance deal with Geely, one of China’s largest privately held auto makers

Mobileye’s computer vision technology will be used in a new premium electric vehicle called Zero Concept from Geely Auto Group, one of China’s largest privately held automobile manufacturers. Mobileye’s owner Intel made the announcement today at the Beijing Auto Show. Zero Concept is produced by Lynk & Co., the brand formed as a joint venture between Geely Auto and Volvo Car Group, and uses Mobileye’s SuperVision driving-assistance system.

Intel also announced that Mobileye and Geely Auto have signed a long-term, high-volume agreement for advanced driver-assistance systems that means more Geely Auto vehicles will be equipped with Mobileye’s computer vision technology.

In a post, Mobileye chief executive officer and Intel senior vice president Amnon Shashua wrote that the deal is the first time “Mobileye will be responsible for the full solution stack, including hardware and software, driving policy and control.”

He added “it also marks the first time that an OEM

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European stocks rise, with Nike rivals and auto makers advancing

People wearing face masks wait in line in front of a medical laboratory to get tested for COVID-19, in Paris, France, on September 18, 2020.


olivier morin/Agence France-Presse/Getty Images

European stocks rose on Wednesday, as investors brushed off a mixed batch of purchasing managers data and shares of sportswear makers and automobile makers rose.

The Stoxx Europe 600 index
SXXP,
-0.81%

rose 1.1% to 361.58, after rising 0.2% on Tuesday. The German DAX
DAX,
-0.23%

climbed 1.4%, the French CAC
PX1,
-0.51%

rose 1.6% and FTSE 100 index
UKX,
-1.10%

gained 1.7%.

The euro
EURUSD,
-0.15%

fell 0.1% against the dollar, while the pound was even weaker
GBPUSD,
+0.08%
,
dropping 0.3%. Dollar strength can help European and U.K. exporters by making their prices more competitive overseas.

The IHS Markit flash eurozone manufacturing purchasing managers index rose to 53.7 from 51.7, while the services PMI dropped to 47.6 from 51.9

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