Before Canada said this week it was imposing a 100 per cent duty on Chinese-made electric vehicles, Tesla approached Ottawa and asked for a lower tariff on its autos, a Canadian government source told Reuters on Wednesday. Canada, following the lead of the United States, said on Monday it was setting the tariff for all … Read more
German carmaker BMW is recalling 394,000 vehicles in the United States and 44,131 vehicles in Canada due to faulty airbag inflators that could potentially cause serious or fatal injuries. The recall was reported by the U.S. National Highway Traffic Safety Administration (NHTSA) on Wednesday, and updated on Transport Canada’s website on Thursday. An airbag inflator can explode, sending potentially deadly sharp … Read more
The U.S. plans to slap new tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment — an election-year move that’s likely to increase friction between the world’s two largest economies. The tariffs are unlikely to have much of an inflationary impact because of how they’re structured. Administration officials said they … Read more
Hyundai Motor’s planned $3 billion IPO in India will help the carmaker score two goals in one go: expand in one of the world’s fastest growing markets and tackle the so-called “Korea discount” that suppresses the value of its business back home. Hyundai, India’s second-biggest carmaker behind Maruti Suzuki with a 15% market share, has … Read more
