article thumbnail

Grant Thornton LLP Warns of Potential Collapse of Automotive Supply Chain

Green Car Congress

But the most immediate and pervasive risk to the economy is a wholesale collapse of the automotive supply base, Grant Thornton LLP partner Laura Marcero told the Automotive Press Association in Detroit. Grant Thornton LLP is the US member firm of Grant Thornton International Ltd, one of the six global audit, tax and advisory organizations.

Grant 150
article thumbnail

UK Electric Car number cross 500,000 mark

EV Info

This has been blamed on supply shortages, and Government grants worth up to £1,500 for purchases of new plug-in cars being scrapped in June. The number of registrations during the first three months of the year was 102% more than during the same period in 2021. At the end of August, the year-to-date increase had fallen to 49%.

article thumbnail

US Treasury To Provide Up To $5B in Financing For Auto Supplier Support

Green Car Congress

While the President’s Task Force on the Auto Industry continues to review restructuring plans submitted by General Motors and Chrysler, the US Department of the Treasury announced an Auto Supplier Support Program that will provide up to $5 billion in financing to US-based suppliers.

Financing 150
article thumbnail

Minda Corporation, Pricol to present arguments to CCI over stake acquisition | Autocar Professional

Baua Electric

The move was labelled a “hostile takeover” by many in the auto industry, setting the stage for a potential battle before the antitrust regulator. After its evaluation, the CCI can approve the transactions, grant conditional approval, or even deny the approval. Minda Corporation and Pricol Ltd.

article thumbnail

Volkswagen & Audi to pay >$14.7B in US to settle 2.0L diesel emissions case; $2B of that to promote ZEVs

Green Car Congress

If approved by the Court, this will be the largest consumer auto industry class action settlement in US history. For example, most owners who purchased a 2.0-liter When and if the Court grants final approval, the claims process will open to eligible Volkswagen and Audi 2.0

Audi 150
article thumbnail

US Utilities Pledge to Ramp Up Efforts To Make Electricity a Crucial Transportation Fuel

Green Car Congress

Vehicle and Infrastructure Incentives : Utilities pledge to work with federal, state and local stakeholders to help develop purchase and ownership incentives (monetary/non-monetary) supporting both vehicles and infrastructure deployment. We, as an industry, are eager to collaborate with the auto industry and others to bring PEVs to market.

article thumbnail

Lessons From Norway’s Journey To Becoming The Global Leader In EV Adoption

Wallbox

Norway leads electric vehicle (EV) adoption, boasting the highest share of new EV purchases worldwide. This approach of virtually redesigning the tax structure within the auto industry also stands out amongst other countries, which mainly rely on direct subsidies to incentivize EV purchases over internal combustion engine cars.

Global 83