Global risk aversion

Listen to this article Toyota has just started selling the bZ4X this year but it's now facing a recall. According to a voluntary safety recall issued by the automaker, its first mass-produced EV is facing an issue that causes its wheels to fall off. Affected owners have already been notified through various channels – including email, phone calls, and first-class mail – instructing them not to drive their vehicles. The Subaru Solterra , which was developed and being produced side-by-side with the Toyota bZ4X , is also part of the said recall. However, since there haven't been any Solterra units delivered to dealers and retailers, no Subaru owners are involved in the said recall. Gallery: 2023 Toyota bZ4x 58 Photos The cause of the issue is still under investigation. However, Toyota has recorded three instances involving wheels coming off – one from … [Read more...] about Toyota bZ4X Already Recalled For Wheels That Could Come Off

The interior of a Hyundai Motor Co Ioniq 5 electric vehicle (EV) automotive robo-taxi displayed in the Gangnam district of Seoul, South Korea, on June 9, 2022. (Photo: Bloomberg) Pipe down for a second Elon, the hottest things in the auto industry — the most electric electrics — now come from Hyundai Motor Co. Earlier this year, the South Korean carmaker rolled out two new battery-powered cars — the Hyundai Ioniq 5 and its sibling, the Kia EV6 — which promptly tore up the sales charts, passing the Nissan Leaf, Chevrolet Bolt and every other electric vehicle on the market not made by Tesla. In the United States this year through May, Hyundai sold 21,467 of these two machines, besting even the white-hot Ford Mustang Mach-E, which was snapped up by 15,718 drivers. “From an EV perspective, they’re really just kind of cleaning the floor,” said Edmunds analyst Joseph Yoon. “I honestly don’t know if any dealers around me have any in stock.” Tesla still sells far more cars, but it … [Read more...] about Sorry Elon Musk. Hyundai’s quietly dominating EV race

Suspect Piyabutr Urai-ngam, 27, is arrested on suspicion of blackmailing girls through use of their nude photos, at his house in Lam Luk Ka district, Pathum Thani province, on Thursday morning. (Photo supplied) A man alleged to be involved in the suicide of a minor after having blackmailed her into sending explicit images of herself was released by the Criminal Court Saturday on 50,000-baht bail. Police from the Anti-Trafficking in Persons Division (ATPD) took Piyabutr Urai-ngam, 27, to the court to seek approval for the first round of his detention. Bail was opposed by authorities who reasoned that the case carried a severe penalty, and the suspect poses a flight risk. The suspect, who worked as a call centre operator at a communications firm, was arrested at a house in tambon Khu Khot of Lam Luk Ka district, Pathum Thani province, on Thursday morning. He has been charged with possession of child pornography for sexual and commercial purposes. Despite police opposition, the … [Read more...] about Court grants bail to cosplay blackmailer

Red Bull chief technical officer Adrian Newey has detailed how he turned down an operation after fracturing his skull in a cycling accident last year, after doctors said there was a small chance of him getting brain damage during the procedure. Newey suffered serious injuries after plunging six feet off a cycle path a night while with wife Amanda, suffering multiple skull fractures combined with chipping a bone above his eye muscle after hitting his head on a stony beach. Amanda described towards the end of last year about how “miraculous” his recovery was, but the Red Bull technical boss decided to press on with the job at hand after taking time off to recuperate. “No, I’m sufficiently pig-headed that it didn’t change much,” Newey told the Evening Standard when asked if easing his workload crossed his mind in the aftermath of his incident. He had a round of craniotomy surgery to repair the damage to his skull – returning to the pit wall virtually just 10 days later – … [Read more...] about Newey recalls how op came with chance of brain damage

Denso Corp may consider spinning off its chip business, a top executive of the major Japanese maker of semiconductors used in automobiles and a main supplier to Toyota Motor Corp told Bloomberg News on Friday. "We need to think about whether the time will come when we sell semiconductors, alone, externally," Bloomberg quoted Denso's chief technology officer, Yoshifumi Kato, as saying in an interview. Nothing had been decided on a split and the company's focus for now was on meeting internal chip demand, Bloomberg cited Kato as saying. Denso is not considering spinning off the semiconductor business at this moment, a company spokesperson said. Kato said last week the company expected demand for auto chips to be about a third higher by 2025 than it was in 2020, as the key component was increasingly used in fossil-fuel cars, electric vehicles and autonomous drive technology. A global chip shortage has plagued companies from smartphone makers to consumer electronics firms and … [Read more...] about Denso May Consider Spinning Off Chip Business, Bloomberg Says, Citing Executive

Sanctions-hit Russia has limited exports of noble gases such as neon, a key ingredient for making chips, until the end of 2022 to strengthen its market position, its trade ministry said on Thursday. Russia's export curbs could worsen the supply crunch in the global chips market. Ukraine was one of the world's largest suppliers of noble gases until it suspended production at its plants in the cities of Mariupol and Odesa in March. Exports of noble gases, which Russia used to supply to Japan and other countries, will be allowed only with special state permission until Dec. 31, the Russian government said on May 30. The move will provide an opportunity to "rearrange those chains that have now been broken and build new ones," Deputy Trade Minister Vasily Shpak told Reuters via the ministry's press service on Thursday. Russia accounts for 30% of the global supply of three noble gases - neon, krypton and xenon, according to the ministry's estimate. Taiwan, the world's leading … [Read more...] about Russia Limits Exports Of Noble Gases, A Key Ingredient For Making Chips

Oil prices tumbled around 3% on Wednesday as investors worried that rate hikes by the Federal Reserve could push the U.S. economy into recession, dampening demand for fuel. Brent crude futures fell $2.91, or 2.5%, to settle at $111.74 a barrel. The global benchmark hit a session low of $107.03, its lowest since May 19. U.S. West Texas Intermediate (WTI) fell $3.33, or 3%, to settle at $106.19 a barrel. The session low was $101.53, its lowest since May 11. Investors assessed on Wednesday how interest rate hikes designed to cool soaring inflation might stall an economic recovery. Oil prices pared losses, however, during the session after Fed Chair Jerome Powell pledged an "overarching focus" on bringing down inflation and reiterated that ongoing increases in the central bank's policy rate would be appropriate, with the pace depending on the economic outlook. "Powell seemed to change the mood of the market by seeming confident about the U.S. economy," said Phil Flynn, analyst at … [Read more...] about Oil Falls Around 3% As Investors Eye U.S. Fed Rate Hikes

As per the notification dated 24th June 2022, Bharat New Car Assessment Programme rating will provide consumers with an indication of the level of protection offered to occupants by evaluating the vehicle in the areas of (a) Adult Occupant Protection (AOP) (b) Child Occupant Protection (COP) and (c) Safety Assist Technologies (SAT). The vehicle shall be assigned a star rating from one to five stars, based on scoring against various tests undertaken as per the Automotive Industry Standard (AIS) 197. Also Read: Nitin Gadkari Approves Bharat NCAP; Cars In India To Get Safety Rating Based On Crash Tests With the issuance of the notification, the government has inserted a new rule 126E in CMVR (Central Motor Vehicles Rules), 1989 regarding the Bharat New Car Assessment Programme (BNCAP), the Ministry of Road Transport & Highways said in a statement on Saturday. The new rule is applicable on Type Approved motor vehicles of category M1 [motor vehicles used for the carriage of … [Read more...] about Govt Issues Notification For ‘Bharat New Car Assessment Programme’

Home Four wheelers oi-Athul By Athul Updated: Saturday, June 25, 2022, 15:43 [IST] The Ministry of Road Transport and Highways has approved the draft notification for Bharat-NCAP. This will allow the OEMs to test their vehicles in the country's own in-house test facilities - inching a step closer to becoming Aatmanirbharbharat. New Car Assessment Program, otherwise known as NCAP aims to improve the safety of automobiles. USA laid the foundation stone for what NCAP is today with a programme to let its consumers know about the crashworthiness of a new car in the US market. This programme eventually evolved and became New Car Assessment Program (NCAP). At present, there are a total of 9 different New Car Assessment Programs (NCAP) globally. This includes US NCAP, Euro NCAP, Japan NCAP, ASEAN NCAP, China NCAP, Korean NCAP, Latin NCAP, and Global NCAP. In India, more than a few new cars have voluntarily … [Read more...] about Bharat NCAP Draft Notification Approved By MoRTH: Everything You Need To Know