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Reuters | Equities.com |

FRANKFURT (Reuters) - Volkswagen’s namesake brand plans to more than double the share fully electric vehicles have in total European sales by 2030, the company said on Friday, in a bid to accelerate the carmaker’s shift towards battery-powered cars.

Fully electric vehicles are expected to account for more than 70% of total European vehicle sales by 2030, compared with a previous target of 35%, the world’s second-largest carmaker said as it unveiled its &lsquo...


Kimberly Redmond | Equities.com |

The Cherokee Nation is asking Jeep to change the name of its popular Cherokee and Grand Cherokee sport utility vehicles, saying it seems inappropriate in 2021 for a corporation to “continue to make a profit off our identity.”

During an interview with Car & Driver magazine, Chief Chuck Hoskin, Jr., chief of the Oklahoma-based tribe, said he believes corporations and sports teams should stop using Native American names, images and mascots as nicknames or as commercial product names.


Reuters | Equities.com |

Japan’s second-biggest automaker by sales, Honda Motor Co, said on Friday its chief executive, Takahiro Hachigo, would step down and be replaced by Toshihiro Mibe, its head of research and development, on April 1.

Mibe, 59, who has worked with Hachigo to push through structural reforms, has been president of the R&D unit since 2019, following stints in engine development and the drive-train business after joining the company in 1987.


Kimberly Redmond | Equities.com |

Volkswagen and General Motors Company both suspended some production in Mexico as the country continues to deal with a natural gas shortage.

Bitterly cold weather in the US has interrupted the flow of natural gas from Texas to power plants in northern Mexico, which has prompted Mexican President Andrés Manuel López Obrador to urge Mexicans to conserve electricity.


AP News | Equities.com |

Struggling luxury car brand Jaguar will be fully electric by 2025, the British company said Monday as it outlined a plan to phase out internal combustion engines.

Jaguar Land Rover, which is owned by Indian conglomerate Tata Motors, hopes the move will help turn around the fortunes of the 86-year-old Jaguar brand, which for many epitomizes class but has struggled in recent years.


Reuters | Equities.com |

General Motors Co on Wednesday said the global semiconductor chip shortage could shave up to $2 billion from 2021 profit, but the U.S. automaker’s highly profitable big pickups and SUVs won’t suffer any production cuts.

After reporting a fourth-quarter profit of $2.8 billion and a 2021 profit outlook some saw as conservative, GM shares were down 4.5% in early trading.

Chief Executive Mary Barra, in a media briefing, said GM “won’t lose any production” of its high-profit full-size pickup trucks and SUVs, although the supply of computer chips “is still a bit fluid.”


Reuters | Equities.com |

Toyota Motor Corp said on Wednesday it has an up to four-month stockpile of chips and was not immediately expecting a global chip shortage to hit production, as it jacked up its full-year earnings forecast by a bigger-than-expected 54%.

Unlike other automakers, including Japanese peers Nissan Motor Co Ltd and Honda Motor Co Ltd, that have had to cut production because of semiconductor shortages, Toyota raised output for the fiscal year ending March.


Reuters | Equities.com |

Asian chipmakers are rushing to expand their production capacity to meet a global shortage that has been acutely felt by carmakers, but the firms warn that the supply gap may take many months to plug as they struggle to keep up with strong demand.

Automakers from General Motors to Stellantis and Honda Motor are shutting assembly lines due to the shortages, which in some cases have been exacerbated by the former U.S. administration’s sanctions against Chinese chip factories. Some firms have also furloughed staff.


Reuters | Equities.com |

General Motors Co became the latest automaker hit by the global shortage of semiconductor chips as the U.S. automaker said on Wednesday it will take down production next week at four assembly plants.

GM said it will cut production entirely during the week of Feb. 8 at plants in Fairfax, Kansas; Ingersoll, Ontario; and San Luis Potosi, Mexico. It will also run its Bupyeong 2 plant in South Korea at half capacity that week.


Reuters | Equities.com |

U.S. President Joe Biden’s administration has started discussions with the utility and automobile sectors about reducing greenhouse gas emissions, White House domestic climate change adviser Gina McCarthy told Reuters.

The talks are part of a broad effort by the Biden administration that McCarthy will spearhead to engage every federal agency to decarbonize the U.S. power sector by 2035 and the whole economy by 2050.