Latest news with #ElectricVehicles
Daily Mail
16 hours ago
- Automotive
- Daily Mail
Win for Trump as VW pledges 'massive' investment in US jobs… to build controversial cars
Volkswagen's CEO confirmed the company is looking to make a 'massive' US investment in an attempt to avoid tariff blowback. Oliver Blume, VW's top boss, said he has been in contact with members of the Trump administration, including US Commerce Secretary Howard Lutnick. His strategy to shield VW from steep tariff costs appears two-fold: maintain open communication with US officials and continue ramping up investment in American businesses. 'Our primary contact is the US Secretary of Commerce, but ultimately, the issues also go through the US President's desk,' Blume told Süddeutsche Zeitung, a German newspaper. 'So far, we've experienced absolutely fair, constructive discussions.' Blume also said Volkswagen plans to continue its heavy investment in Rivian, an American electric vehicle startup that has not been without controversy. VW first announced its partnership with Rivian in June 2024, and completed the initial $1 billion investment in November. The deal gave Rivian a critical infusion of cash, and gave Volkswagen access to Rivian's next-generation infotainment software and electrical architecture. Both companies have said they're happy with the collaboration and are preparing for a second phase of investment more than $4 billion through 2026. Speaking to the German paper, Blume doubled-down on that cash promise, saying his company 'intends to continue investing in the US' including 'further, massive investments' in Rivian. For years, Volkswagen has leaned heavily into modernizing its vehicle interiors. Models across the brand — including entry-level Jetta sedans and high-end Atlas SUVs — were revamped with digital sliders and complicated infotainment screens. Often, the tech-happy interiors ditched buttons for climate and audio controls. Volkswagen has admitted that it went too far with this change, with the brand's top designer, Andreas Mindt, recently saying that next-generation models will go back to buttons. 'Honestly, it's a car. It's not a phone: it's a car,' Mindt said. Meanwhile, Rivian has spent billions on its proprietary interior technology, including its massive touchscreens. Imported cars are currently smacked with a 25 percent tariff when they enter the US Rivian has consistently dominated customer satisfaction ratings, with drivers praising the high-tech feel. But the EV startup has burned through a serious amount of cash. It has lost billions of dollars since its inception in 2009, and remains in the red. It hopes to achieve consistent profitability after 2026, when the company is expected to produce its lower-cost, smaller R2 SUV. Both companies have worked closely on the development of a new startup, Scout Motors. The startup is bringing extended-range pickups and SUVs to the US market: they are battery-powered, but will have a gas generator on board. VW's latest affirmation of its Rivian partnership is another attempt by the brand to grapple with Trump's 25 percent automotive tariffs. The German manufacturer initially told customers that it would display the cost of tariffs on its new-vehicle stickers. In early May, the company also confirmed it was bringing an Audi model's production to the US. A representative for the carmaker declined to detail which car would come. However, industry experts are speculating it will be the electric Audi Q4 E-tron. 'We want to localize more strongly in the USA,' a spokesperson told 'To this end, we are currently examining various scenarios. We are confident that we will make a decision on this in consultation with the Volkswagen Group before the end of this year as to what this will look like in concrete terms.'
Bloomberg
2 days ago
- Business
- Bloomberg
Chinese Shares Slide in Hong Kong on Renewed Trade Uncertainties
Chinese stocks fell in Hong Kong on Friday, after US Treasury Secretary Scott Bessent said trade talks between the world's two largest economies are 'a bit stalled.' The Hang Seng China Enterprises Index dropped as much as 2.1%, led by technology and electric-vehicle firms.
Time of India
2 days ago
- Automotive
- Time of India
Flexi-staffing, EV, e-commerce to drive 2.8% Indian workforce growth in April-Sep: Report
New Delhi: The growing trend of flexible workforce models, and increased opportunities in the Electric Vehicles (EVs) and e-commerce sectors is set to boost the workforce in India, according to a report on Thursday. The Employment Outlook Report (EOR) for the period between April and September by TeamLease Services, a staffing firm, highlighted measured optimism amid economic complexity. With 47 per cent of employers indicating plans for workforce expansion, 28 per cent opting for stability, and 25 per cent predicting reductions, the report forecasts a 2.8 per cent Net Employment Change (NEC). It showed that the growing trend of flexi-staffing is taking centre stage, with 69 per cent of employers embracing flexible workforce models to manage cyclical demand and seasonal peaks. Similarly, the gig economy remains a cornerstone of hiring strategies, with 64 per cent of employers expanding sales and customer service roles through gig models. "India's workforce stands at a defining moment, where traditional models of hiring are giving way to more dynamic and adaptive strategies. As industries embrace emerging technologies, organisations must recognise that agility and innovation are the true engines of success," said Kartik Narayan, CEO-Staffing, TeamLease Services. "The future lies not in simply expanding headcount, but in shaping highly specialised, flexible teams that can scale, evolve, and thrive amid continuous market shifts. By fostering such talent ecosystems, companies will not only adapt but will lead India's workforce into a new era of growth and opportunity," Narayan added. Further, employers are now prioritising core competencies like digital literacy (76 per cent), customer experience management (68 per cent), and communication (63 per cent), indicating a clear focus on tech-readiness, service orientation, and effective collaboration, the report said. It also highlighted that the automotive sector projecting a 6.9 per cent NEC and EVs and allied infrastructure sector poised for strong growth at 7.1 per cent, are leading the charge. Similarly, e-commerce and tech startups are set to grow by 6.9 per cent, the report said. The rise of AI and automation is another factor accelerating the evolution of workforce requirements. The shift to generative AI, cloud technologies, and low-code platforms is driving demand for specialised, tech-savvy talent across all sectors, said the report that leveraged extensive primary and secondary research, drawing insights from over 1,263 employers across 23 industries and 20 cities.
Mint
2 days ago
- Automotive
- Mint
New Delhi is promoting hybrid cars on par with electric, upsetting EV makers
India's leading electric car makers–Tata Motors Ltd, Mahindra and Mahindra Ltd, and Hyundai Motor India Ltd–are up in arms over the Delhi state government's draft paper proposing equal incentives for hybrid cars and electric vehicles (EVs), according to four people aware of the matter. A crucial meeting to discuss the issue is scheduled to be held in Niti Aayog on 30 May, the people cited above said on condition of anonymity. Whether to incentivize hybrid cars on par with EVs will be discussed at New Delhi's premier think tank, they said. This comes after a contentious draft proposal by the Delhi government, shared with automakers on 22 April, suggested waiving off road tax and registration fee for both technologies. Currently, the benefits are given only to EVs. The proposal has sparked strong opposition from pure EV manufacturers, who argue that hybrids, which run on conventional fuel and electric motors, should not receive the same benefits as pure EVs that solely rely on an installed battery. What has riled the EV makers further is a 2 May advisory by the commission for air quality management in NCR (CAQM) encouraging public departments–of both central and state governments–to buy clean fuel cars, including EVs, hybrid and CNG vehicles, among others. 'Strong Hybrid Electric Vehicles (SHEV) offer substantial improvements in fuel efficiency and emission reduction as compared to conventional diesel/petrol vehicles," the advisory reads. Also read | Honda scales back pure electric vehicle ambitions as focus turns to hybrid cars The EV makers have flagged their concern with the Union ministry of heavy industries (MHI), the nodal body for EV schemes, and the central government's think tank Niti Aayog over the policy's proposal, the persons cited above said. 'Hybrid is an old technology. Although customers are free to decide what technology they want to opt for, the automakers do not want hybrids to be incentivised just like EVs," said the first person. 'This discourages investments into pure electric vehicles." Earlier, on 14 May, the carmakers rushed to MHI to raise their concerns with Union heavy industries minister H.D. Kumaraswamy. After the meeting, most of them are said to have written letters detailing their concerns regarding the policy stance of the national capital administration to the ministry, according to the people mentioned above. Further, the minister tweeted post the meeting saying that it was to discuss India's clean mobility roadmap. However, the people cited above said that the agenda was the automakers' objection to inclusion of other technologies under the definition of 'clean vehicles'. Industry players argue that hybrid vehicles have higher tailpipe emissions than pure EVs and, thus, should not be incentivised. Read this | Delhi plans incentives for hybrid cars, drives domestic carmakers into panic Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said in a written statement to Mint that the company believes government incentives should be directed toward technologies that require support to bridge a funding gap and accelerate innovation. 'Incentives are most effective when they help emerging technologies reach scale and maturity—particularly those that contribute meaningfully to long-term sustainability goals of zero emissions, such as EVs," Chandra said. The ministry of heavy industries, Hyundai India, Mahindra, Kia, and Niti Aayog did not respond to Mint's emailed queries till press time. Not just Delhi To be sure, state governments across the country have started introducing special policies focused on increasing EV penetration. So far, Uttar Pradesh, Delhi and Maharashtra have floated their policies, with only Delhi and UP proposing incentives for hybrids as well. While Delhi's policy still remains in draft, Maharashtra and UP have notified their guidelines. In FY25, the country sold over 107,000 electric cars, a growth of 18% compared to the year-ago period. As for hybrids, about 83,000 strong hybrid cars were sold in the country during the same period, as per the government's Vahan vehicle registration dashboard. Tata Motors, Mahindra and Hyundai currently offer only pure EVs along with their conventional fuel models. On the other hand, Maruti Suzuki and Toyota Kirlosokar have hybrid and internal combustion vehicles. Maruti is slated to launch its EVs later this year, but will mostly export its models due to tepid consumer demand in the country. Also read | EVs hit with falling resale value as consumer demand cools Rahul Bharti, executive director at Maruti Suzuki, told Mint that EV penetration in India is currently less than 3%, and even in the US and Europe, it is 8% and 12%, respectively. 'While all efforts are to maximize this 3%, we cannot say we will do nothing about the balance 97%," Bharti said. He added that the purpose and effect of strong hybrids is to replace pure diesel or petrol vehicles because they increase energy efficiency by 36-44% and reduce CO2 by 25-31% over petrol vehicles. 'Data shows wherever SHEV incentives have been given, EV sales have not reduced but increased," he said. 'We want both EV and SHEV sales to grow." Emailed queries sent to Toyota on Thursday afternoon remained unanswered till press time. Experts divided Experts are divided over the issue, with some putting their weight behind EVs and others rooting for leveraging hybrids on the path to full electrification. Sharif Qamar, associate director of transport and urban governance at The Energy and Resources Institute (Teri), a non-profit think tank, said incentives should be only for EVs. 'The objective of the EV policy is to cut down emissions of vehicles and also contribute to improving the air quality," he said. 'When it comes to the emission reduction objective, currently, only zero-tailpipe emission vehicles need to be prioritised. Incentives should be crafted to encourage players to move towards zero emission vehicles." Others like Nikhil Dhaka, policy lead at Primus Partners, don't agree. 'Delhi's proposals in the EV policy are balancing short-term practicalities like charging infrastructure challenges," he said, adding that leveraging hybrids in the short term can offer a realistic path to reducing pollution quickly even as adoption of clean fuel cars picks up. 'Manufacturers can invest in a broader mix of clean fuel technologies," Dhaka said. 'Limited charging infra, range anxiety and higher costs of battery electric vehicles are slowing down EV adoption currently." Analysts at HSBC Global Research in a 20 May note backed hybrids as a bridge to pure EVs. 'The latest trends reinforce our longstanding belief that India will remain a multipowertrain country for a prolonged period," the note stated. 'Hybrids, CNGs, and biofuels are practical medium- to long-term solutions, while the country moves towards eventual electrification." Read this | EV industry, government struggle to find alternatives as China throttles rare earth magnet supply A Deloitte study also showed that demand for hybrid vehicles remains high among Indian consumers. As per its 2025 Global Automotive Consumer Study, 33% of consumers surveyed said that they would prefer to purchase a hybrid vehicle as their next preferred powertrain. In comparison, only 8% consumers expressed preference for pure EVs. Some in the industry have argued that a lack of adequate charging infrastructure and concerns over resale value will hold back purchases of EVs by consumers. 'EVs sold today are not primary cars, but rather secondary," said Partho Banerjee, senior executive officer-marketing and sales, Maruti Suzuki India, during a media briefing on 1 April. 'Till the time we don't solve customer concerns on range, charging infrastructure, and post-sales, buyers will not have confidence." And read | Automakers rush to PMO, commerce ministry as Chinese magnet crisis set to spread beyond EVs, threatens production cuts
Hans India
3 days ago
- Automotive
- Hans India
Flexi-staffing, EV, e-commerce to drive 2.8 pc Indian workforce growth in April-Sep: Report
New Delhi: The growing trend of flexible workforce models, and increased opportunities in the Electric Vehicles (EVs) and e-commerce sectors is set to boost the workforce in India, according to a report on Thursday. The Employment Outlook Report (EOR) for the period between April and September by TeamLease Services, a staffing firm, highlighted measured optimism amid economic complexity. With 47 per cent of employers indicating plans for workforce expansion, 28 per cent opting for stability, and 25 per cent predicting reductions, the report forecasts a 2.8 per cent Net Employment Change (NEC). It showed that the growing trend of flexi-staffing is taking centre stage, with 69 per cent of employers embracing flexible workforce models to manage cyclical demand and seasonal peaks. Similarly, the gig economy remains a cornerstone of hiring strategies, with 64 per cent of employers expanding sales and customer service roles through gig models. 'India's workforce stands at a defining moment, where traditional models of hiring are giving way to more dynamic and adaptive strategies. As industries embrace emerging technologies, organisations must recognise that agility and innovation are the true engines of success,' said Kartik Narayan, CEO-Staffing, TeamLease Services. 'The future lies not in simply expanding headcount, but in shaping highly specialised, flexible teams that can scale, evolve, and thrive amid continuous market shifts. By fostering such talent ecosystems, companies will not only adapt but will lead India's workforce into a new era of growth and opportunity,' Narayan added. Further, employers are now prioritising core competencies like digital literacy (76 per cent), customer experience management (68 per cent), and communication (63 per cent), indicating a clear focus on tech-readiness, service orientation, and effective collaboration, the report said. It also highlighted that the automotive sector projecting a 6.9 per cent NEC and EVs and allied infrastructure sector poised for strong growth at 7.1 per cent, are leading the charge. Similarly, e-commerce and tech startups are set to grow by 6.9 per cent, the report said. The rise of AI and automation is another factor accelerating the evolution of workforce requirements. The shift to generative AI, cloud technologies, and low-code platforms is driving demand for specialised, tech-savvy talent across all sectors, said the report that leveraged extensive primary and secondary research, drawing insights from over 1,263 employers across 23 industries and 20 cities.
