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Magna lags profit estimates, cuts annual sales forecast on supply chain snags – ET Auto

Baua Electric

Canada’s Magna International missed first-quarter profit estimates and cut its full-year overall sales forecast on Friday, as auto parts suppliers navigate ongoing supply constraints and bumpy demand for electric vehicles. The company’s shares were down about 4% in early trade.

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BorgWarner providing BYD Auto with turbo technology for hybrids

Green Car Congress

BorgWarner is supplying its advanced wastegate turbocharging technology for numerous hybrid electric vehicles (HEVs) from BYD Auto Industry Company Limited. The turbochargers boost BYD Auto’s 1.5-liter In addition, BorgWarner also delivers its technology for numerous gasoline powered vehicles of BYD Auto.

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Renault CEO calls for Auto European plan to protect against ‘onslaught of EVs from China’

Teslarati

Renault CEO Luca de Meo released a 19-page open letter to Europe describing an auto European plan to protect against the ‘onslaught of electric vehicles (EV)’ coming from China.” He pointed out that electric vehicles and plug-in hybrids account for 14% of global car sales, led by Asian automakers.

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2020 Hyundai Sonata Hybrid $249 lease tops June plug-in, hybrid, electric car deals

Green Car Reports

Although the cheap low-interest or no-interest financing deals for new vehicles have mostly gone away, as the auto industry recalibrates supply to a new coronavirus-recovery norm for demand, many of them are still good through June in the green-car sector—leading to some standout deals for electric cars, plug-in hybrids, and hybrid vehicles. (..)

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GlobalData: Global automakers earmark nearly US$600B for EVs over next decade

Green Car Congress

Broadly, the investments announced focus on the development of production facilities, technology, EV batteries, new product and securing future raw material supply (primarily semiconductors and battery materials). Automakers need to be tech-efficient to combat technology rivals invading the auto industry. Toyota announced US$70.4

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thyssenkrupp Automotive pressing on with transformation of its powertrain business towards e-mobility

Green Car Congress

The unit is currently one of the world’s leading suppliers of components for internal combustion, hybrid and electric powertrains. We will use the profits from this business to finance the development and industrialization of the new products, gradually making ourselves independent of the traditional internal combustion engine.

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Driving Towards a Sustainable Future: The Rise of Electric Autos in India

Baua Electric

With the global push towards sustainability, the rise of electric autos in India comes as no surprise. The Indian government has introduced various incentives and initiatives, such as subsidies and tax benefits, to promote the adoption of electric autos.

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