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Reuters - 16 hours ago

Rivian applies for federal loan to restart Georgia EV factory construction

UPDATE 3-Rivian applies for federal loan to restart Georgia EV factory construction Adds background and details in paragraphs 2, 6-8, 10,11 Oct 4 (Reuters) - Rivian Automotive RIVN.O has applied for a federal loan to enable the construction of its electric vehicle factory in Georgia, according to a filing by the U.S. Department of Energy. While Rivian has applied for a loan, the department has not made a final decision and the filing did not disclose the requested amount or terms.

Reuters - 22 hours ago

Carmakers don't plan immediate price changes to Chinese-made EVs after EU backs tariffs

UPDATE 1-Carmakers don't plan immediate price changes to Chinese-made EVs after EU backs tariffs Recasts with more carmakers PARIS/MILAN, Oct 4 (Reuters) - The European Union's decision to press ahead with tariffs on China-made electric vehicles after a member states' vote on Friday is not expected to trigger immediate price changes for affected vehicles, carmakers said.

Reuters - 22 hours ago

EU votes in favour of hefty tariffs on China-made EV imports

QUOTES-EU votes in favour of hefty tariffs on China-made EV imports Adds VW's SEAT and Hargreaves Lansdown LONDON, Oct 4 (Reuters) - The European Union backed tariffs of up to 45% on imported Chinese electric vehicles (EVs) on Friday as it looks to counter Beijing's subsidies for automakers now targeting Europe. Here is political and industrial reaction to the news: EUROPEAN COMMISSION PRESIDENT URSULA VON DER LEYEN: "The electric vehicle sector holds huge potential for Europe's future competiti

Reuters - 1 day ago

EU votes in favour of hefty tariffs on China-made EV imports

QUOTES-EU votes in favour of hefty tariffs on China-made EV imports LONDON, Oct 4 (Reuters) - The European Commission said on Friday it had received enough support in a vote of EU members to impose tariffs of up to 45% on imports of Chinese-made electric vehicles in the bloc's highest profile trade case, risking retaliation from Beijing. Here is reaction to the news: SWEDEN'S MINISTER FOR FOREIGN TRADE BENJAMIN DOUSA: "We have had very positive signals just recently from the Commission that they

Reuters - 1 day ago

Rivian lowers annual production forecast due to parts shortage, shares drop

UPDATE 5-Rivian lowers annual production forecast due to parts shortage, shares drop Rivian says parts shortage began in Q3 and worsened recently Co will produce fewer vehicles in 2024 than a year earlier EV demand in the U.S. under pressure from high borrowing costs Adds detail on part shortage in paragraph 2 By Zaheer Kachwala Oct 4 (Reuters) - Rivian RIVN.O slashed its full-year production forecast on Friday and missed third-quarter deliveries expectations due to a parts shortage and slowing

Reuters - 1 day ago

EU tariff vote on China EVs a 'fatal signal' for sector, German carmakers warn, urging compromise

UPDATE 2-EU tariff vote on China EVs a 'fatal signal' for sector, German carmakers warn, urging compromise BMW CEO calls for a quick settlement between EU and China Mercedes-Benz calls tariffs a 'mistake' Volkswagen calls for a negotiated solution Adds context in paragraph 6, VDA comment in 7 By Christoph Steitz FRANKFURT, Oct 4 (Reuters) - Germany's top carmakers on Friday urged Brussels and Beijing to avert looming tariffs on imports of Chinese-made electric vehicles through a negotiated deal,

Reuters - 1 day ago

Motorcycling-Sterlacchini to take Aprilia reins with Albesiano moving to Honda

Motorcycling-Sterlacchini to take Aprilia reins with Albesiano moving to Honda Oct 4 (Reuters) - Fabiano Sterlacchini will be the Aprilia team's new technical director who is set to take charge after the 2024 season when he replaces Romano Albesiano, who is moving to Honda, the two MotoGP teams announced on Friday. Former KTM technical director Sterlacchini will take charge on Nov.

Reuters - 1 day ago

EU presses ahead with Chinese EV tariffs after divided vote

UPDATE 6-EU presses ahead with Chinese EV tariffs after divided vote Commission says it has necessary support for tariffs Says will continue talks on pricing with Beijing More states back tariffs than oppose, many abstentions Case is Commission's biggest trade clash with China in a decade Beijing has threatened retaliation if tariffs go ahead Adds car shares parargraphs 13 and 14, threats of retaliation in paragraphs 16 and 17 and consumer impact in paragraphs 24 and 25 By Philip Blenkinsop BRUS

Reuters - 2 days ago

EU governments face pivotal vote on Chinese EV tariffs

EU governments face pivotal vote on Chinese EV tariffs By Philip Blenkinsop BRUSSELS, Oct 4 (Reuters) - European Union members face a pivotal vote on Friday on whether to impose tariffs of up to 45% on imports of Chinese-made electric vehicles in the bloc's highest profile trade case, which risks retaliation from Beijing. The European Commission, which oversees the bloc's trade policy, proposed final duties for the next five years to counter what it sees as unfair Chinese subsidies after a year-

Reuters - 2 days ago

German union, auto workers call on Germany to vote against EU tariffs on Chinese EVs

German union, auto workers call on Germany to vote against EU tariffs on Chinese EVs BERLIN, Oct 3 (Reuters) - IG Metall, the powerful German labour union, and employee representatives of the nation's major carmakers said in a statement on Thursday that Germany should vote against the introduction of European Union tariffs on Chinese electric vehicles.

Reuters - 2 days ago

Barclays ups European cars to 'neutral' on resilient free cash flow

BUZZ-Barclays ups European cars to 'neutral' on resilient free cash flow ** Barclays upgrades its view on the European car sector to "neutral" from "negative" citing resilient cash positions and shareholder returns potential, even as it cuts its estimates after recent big profit warnings ** With a more constructive U.S. and global rate cut narrativ

Reuters - 2 days ago

AstraZeneca, Danske Bank, Johnson Matthey

EUROPE RESEARCH ROUNDUP-AstraZeneca, Danske Bank, Johnson Matthey Oct 3 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including AstraZeneca, Danske Bank and Johnson Matthey, on Thursday. HIGHLIGHTS * AstraZeneca AZN.L : Jefferies cuts target price to 11,400p from 11,700p * Baltic Classifieds Group Plc BCG.L : Berenberg raises target price to 360p from 300p * Danske Bank DANSKE.CO : JP Morgan cuts target price to DKK 185 from DKK 190 * John

Reuters - 2 days ago

listed Chinese EV makers slide ahead of EU vote on tariffs; Xpeng leads decline

BUZZ-HK-listed Chinese EV makers slide ahead of EU vote on tariffs; Xpeng leads decline ** HK-listed Chinese EV makers slip ahead of vote on Chinese EV tariffs; Xpeng 9868.HK down 12.5% at HK$48.15 leads decline ** France, Greece, Italy and Poland will vote on Friday to impose tariffs of up to 45% on Chinese EV imports, enough to get EU proposal pa

Reuters - 3 days ago

Stellantis' Italian output to drop below 500,000 units this year, union warns

UPDATE 2-Stellantis' Italian output to drop below 500,000 units this year, union warns Adds Stellantis comment in paragraphs 5&6 MILAN, Oct 2 (Reuters) - Automaker Stellantis' STLAM.MI output in Italy is set to drop below 500,000 vehicles this year from 751,000 in 2023, the FIM-CISL union said on Wednesday, citing persistently soft market demand, especially for electric vehicles.

Reuters - 3 days ago

EU plans to hit China-based EV makers with additional tariffs

FACTBOX-EU plans to hit China-based EV makers with additional tariffs Updates tariffs LONDON, Oct 2 (Reuters) - The European Commission plans to apply additional duties on imported electric vehicles made in China. In September it cut the proposed final tariffs on Tesla TSLA.O and slightly trimmed rates for others after taking into account submissions by the companies in its anti-subsidy investigation.

Reuters - 3 days ago

German finance minister wants government to oppose EU tariffs on China EV cars

German finance minister wants government to oppose EU tariffs on China EV cars BERLIN, Oct 2 (Reuters) - Germany must oppose an EU proposal to impose tariffs on China-made electric cars and avoid a trade war with Beijing, Finance Minister Christian Lindner said on Wednesday, ahead of an EU vote on the issue on Friday. "A trade war with China would do us more harm than good for a key European industry and a crucial sector in Germany," Lindner said at a conference hosted by the BGA trade associati

Reuters - 3 days ago

Volkswagen calls on Germany to vote against EU tariffs on Chinese cars

Volkswagen calls on Germany to vote against EU tariffs on Chinese cars BERLIN, Oct 2 (Reuters) - Volkswagen VOWG_p.DE on Wednesday urged Germany to vote against the introduction of European Union tariffs on Chinese electric vehicles, arguing that the tariffs do not improve the competitiveness of the auto industry. "The proposed tariffs are the wrong approach," a spokesperson said in a statement.

Reuters - 4 days ago

European automakers most at risk from US dockworkers strike, analysts say

UPDATE 2-European automakers most at risk from US dockworkers strike, analysts say Adds Stellantis and VW comments in paragraph 12 and 17 Dockworkers' strike halts flow of half the nation's ocean shipping European automakers most affected due to reliance on East and Gulf Coast ports Detroit automakers may benefit from reduced industry inventories Group representing major automakers urges White House to broker a resolution Shortage of parts could lead some automakers to reduce vehicle production

Reuters - 4 days ago

U.S. light-vehicle sales volumes in Q3 2024

TABLE-U.S. light-vehicle sales volumes in Q3 2024 Oct 3 (Reuters) - The following are the U.S. light-vehicle sales volumes for Q3 2024: AUTOMAKER Q3 2024 Q3 2023 PCT CHNG 1 General Motors 659,601 674,336 -2.2% 2 Toyota Motor^ 542,872 590,296 -8.0% 3 Ford Motor 504,039 500,504 0.7% 4 Honda Motor Co^^ 366,214 339,143 8.0% 5 Fiat Chrysler 305,294 380,

Reuters - 4 days ago

European automakers most at risk from US dockworkers strike, analysts say

European automakers most at risk from US dockworkers strike, analysts say DETROIT, Oct 1 (Reuters) - European automakers are most likely affected by the dockworkers strike at U.S. East Coast and Gulf Coast ports because they rely heavily on those locations, but a longer walkout could hit the industry more broadly if suppliers suffer, analysts said.

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