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Stellantis working hard to avoid Volkswagen plant-closing scenario, CEO says

Stellantis working hard to avoid Volkswagen plant-closing scenario, CEO says TURIN, Sept 17 (Reuters) - Stellantis STLAM.MI has already taken measures and is working hard to avoid the risk of plant closures, as recently announced by rival Volkswagen VOWG_p.DE , the carmaker's CEO Carlos Tavares said on Tuesday. "We have done many unpopular things over the last few years to avoid as much as possible" a situation similar to Volkswagen, Tavares said.
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Scania CEO says committed to Northvolt despite cutbacks, delivery issues

Scania CEO says committed to Northvolt despite cutbacks, delivery issues HANOVER, Germany, Sept 16 (Reuters) - Scania owner Traton 8TRA.DE is committed to using Sweden's Northvolt as the truckmaker's single battery supplier despite recent production and delivery problems, its CEO said on Monday. Scania had to postpone a ramp-up of its battery-electric truck production by a year and delay deliveries to customers due to the troubles at Northvolt, Europe's leading battery supplier.
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Sweden will not take stake in Northvolt, prime minister says

UPDATE 2-Sweden will not take stake in Northvolt, prime minister says Adds quotes, detail in paragraphs 4-6, background in paragraphs 7-9 OSLO, Sept 16 (Reuters) - The Swedish state will not take a stake in battery maker Northvolt and the company's future must be determined by its private owners, Prime Minister Ulf Kristersson told a press conference on Monday.
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Belgian workers march in sympathy over threats to Audi Brussels

Belgian workers march in sympathy over threats to Audi Brussels By Bart Biesemans BRUSSELS, Sept 16 (Reuters) - More than 5,000 people marched through Brussels and most public transport in the Belgian capital was suspended on Monday in solidarity with workers of Audi Brussels whose jobs are threatened. Audi, a subsidiary of Volkswagen VOWG_p.DE , announced in July plans to restructure the Brussels plant , which employs 3,000 people, and said it was considering an early end to production there of
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JSW MG Motor India to launch luxury car brand; first car by March 2025

JSW MG Motor India to launch luxury car brand; first car by March 2025 BENGALURU, Sept 16 (Reuters) - JSW MG Motor India, a joint venture between SAIC Motor 600104.SS and JSW Group, said on Monday it will launch a luxury car brand, aiming to sell its first premium cars by the first three months of 2025. Under the brand, called 'MG Select', the company will launch four products over the next two years, it said .
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Volkswagen may book up to $4.4 bln in provisions on capacity cuts, Jefferies says

UPDATE 1-Volkswagen may book up to $4.4 bln in provisions on capacity cuts, Jefferies says Adds background and quotes from paragraph 5 BERLIN, Sept 16 (Reuters) - Volkswagen VOWG_p.DE may book up to 4 billion euros ($4.4 billion) in provisions for planned capacity cuts as early as the fourth quarter, analysts at brokerage Jefferies said in a note after travelling with company executives in North America.
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Volkswagen may book 3-4 bln eur in provisions on capacity cuts, Jefferies says

Volkswagen may book 3-4 bln eur in provisions on capacity cuts, Jefferies says FRANKFURT, Sept 16 (Reuters) - Volkswagen VOWG_p.DE may book billions of euros in provisions for planned capacity cuts as early as the fourth quarter, brokerage Jefferies wrote in a note after accompanying the carmaker's management. The comments by Jefferies come after Volkswagen earlier this month said it was considering shutting plants in Germany for the first time in its history, a move aimed at bringing down costs
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Struggling Northvolt stokes fear for Europe's battery future

FOCUS-Struggling Northvolt stokes fear for Europe's battery future Northvolt's troubles trigger doubts about its ability to produce enough batteries for Europe Northvolt to buy cathode active materials from Asian suppliers, source says Delivery issues triggered BMW contract cancellation, sources says Northvolt's struggles raise questions about future gigafactories and joint ventures, industry analysts say By Marie Mannes STOCKHOLM, Sept 13 (Reuters) - Northvolt's shock decision this week to shri
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US House passes bill targeting China that would limit EV tax credits

UPDATE 1-US House passes bill targeting China that would limit EV tax credits Adds more details, no immediate Treasury or Chinese embassy comment By David Shepardson WASHINGTON, Sept 12 (Reuters) - The U.S. House of Representatives narrowly voted on Thursday to approve legislation to tighten rules limiting Chinese content in vehicles qualifying for U.S.
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US House passes bill targeting China that would limit EV tax credits

US House passes bill targeting China that would limit EV tax credits WASHINGTON, Sept 12 (Reuters) - The U.S. House of Representatives narrowly voted Thursday to approve legislation to tighten rules limiting Chinese content in vehicles qualifying for U.S. electric vehicle tax credits. The House voted 217 to 192 to approve the bill, which has not been taken up by the Senate, to tighten the definition of Chinese components that make vehicles ineligible for U.S.
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Galp-Northvolt lithium refinery project in Portugal faces delay

Galp-Northvolt lithium refinery project in Portugal faces delay LISBON, Sept 12 (Reuters) - A plan to build one of Europe's largest battery-grade lithium refineries in Portugal by end-2025 is facing delays due to the complexity of the project and uncertainty about grant funding, one of the partners, Galp GALP.LS , said on Thursday. The 50-50 joint venture Aurora between the Portuguese oil company and Swedish battery maker Northvolt, set up in November 2021, had previously expected the refinery t
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Carmakers adjust electrification plans as EV demand slows

Carmakers adjust electrification plans as EV demand slows Recasts first paragraph; adds Stellantis in paragraph 6; Sept 12 (Reuters) - Several global automakers are scaling down their electrification targets, hurt by slowing demand for fully electric vehicles due to lack of affordable models, slow roll-out of charging points, growing trade tensions and increased competition from cheaper Chinese rivals.
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Barclays weighs in on potential tariff risk for Europe if Trump wins

BUZZ-Barclays weighs in on potential tariff risk for Europe if Trump wins ** Barclays sees an up to high single-digit percent hit on European earnings if Donald Trump wins the U.S. presidential race and in the event of a full-blown trade war ** "A Trump win may raise concerns of a full-blown trade war," the British bank's strategists say in a note ** While the direct impact to potential U.S.
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China's Chery plans investment drive to build Omoda, Jaecoo brands in Europe

China's Chery plans investment drive to build Omoda, Jaecoo brands in Europe MILAN, Sept 12 (Reuters) - Chinese carmaker Chery Auto is ready to spend billions of euros to ensure its Omoda and Jaecoo brands are embraced by European customers within three years, the head of the two brands for the Italian market told Reuters. Chery Auto is launching Omoda and Jaecoo in Europe this year, with an initial focus on petrol engine vehicles.
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Volkswagen, IG Metall union to start talks about new labour deal a month early

UPDATE 2-Volkswagen, IG Metall union to start talks about new labour deal a month early Adds further details on negotiations in paragraphs 5-8 FRANKFURT, Sept 12 (Reuters) - Volkswagen VOWG_p.DE and union IG Metall will start talks at the end of September over a new labour agreement for six of its German plants after a job security scheme was cancelled by the carmaker earlier this week.
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Volkswagen, IG Metall union to start wage talks a month early

Volkswagen, IG Metall union to start wage talks a month early FRANKFURT, Sept 12 (Reuters) - Volkswagen VOWG_p.DE and union IG Metall will start talks at the end of September over a new labour agreement for six of its German plants that would replace a crucial job security scheme cancelled by the carmaker earlier this week. Talks will start on Sept. 25, Volkswagen's works council said in a statement on Thursday.
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New York Times business news - Sept 11

PRESS DIGEST- New York Times business news - Sept 11 Sept 11 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. - Delta Air Lines DAL.N said the wing of one of its planes struck a regional jet while taxiing for departure at Atlanta airport, damaging both aircraft.
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Chinese-Swedish Lynk & Co brand will not raise prices because of tariffs, Europe CEO says

Chinese-Swedish Lynk & Co brand will not raise prices because of tariffs, Europe CEO says By Victoria Waldersee FRANKFURT, Sept 11 (Reuters) - Chinese-Swedish EV brand Lynk & Co, which will launch its first China-made battery-electric car in Europe next month, said it did not intend to pass on the cost of looming tariffs on the vehicle to consumers. "We cannot - a lot of the competitors are produced in Europe ...
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European firms doubt China's appetite to fix economy, lobby group says

UPDATE 2-European firms doubt China's appetite to fix economy, lobby group says Economic slowdown is No.1 concern of EU firms in China EU Chamber in China calls for more consumption stimulus Warns firms feel risks of China market no longer match rewards Growing doubts over China's commitment to reform, chamber says Adds Chinese foreign ministry comment in paragraph 12 By Joe Cash BEIJING, Sept 11 (Reuters) - European firms in China doubt the government has a credible plan to boost demand in the
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European firms doubt China has credible plan to turn economy around, lobby group warns

European firms doubt China has credible plan to turn economy around, lobby group warns Economic slowdown is No.1 concern of EU firms in China EU Chamber in China calls for more consumption stimulus Warns firms feel risks of China market no longer match rewards Growing doubts over China's commitment to reform, chamber says By Joe Cash BEIJING, Sept 11 (Reuters) - European firms in China doubt the government has a credible plan to boost demand in the ailing economy or will carry out long-promised
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