Short Torque

EV sales blossom in major markets — but not US

Global sales of electric and plugin hybrid vehicles rose 29 percent year-on-year in March, helped by growth in China and Europe, data showed on Tuesday. Meanwhile, EV growth in North America was hampered by US President Donald Trump's stance toward emissions standards and uncertainties around tariffs. US tariffs on car imports may force some of the country's automakers that produce in neighboring Mexico to readjust prices, or move their production, Rho Motion data manager Charles Lester said. About 39 percent of EVs sold in the US are imported, and around a quarter of locally made EVs use imported batteries, he added. Chinese counter-tariffs, meanwhile, could affect Tesla's US-made models, leading to an almost doubling in prices of its Model S and Model X cars sold in China, Lester said. The latest figure is in line with growth in previous months, contributing to a 29 percent sales increase in the first quarter.

$900m earned by Ford in China during 2024

Ford Motor's China business, including exports from the country, made $900 million in earnings before interest and taxes in 2024, one of the automaker's top executives said on Wednesday. John Lawler, Ford's vice-chairman and former chief financial officer, gave a rare glimpse into the automaker's earnings in the country, where it has been restructuring to stem financial losses. "When I left China in 2016, it was a digital society back then," Lawler said at an analyst conference, referring to his previous role as head of Ford China. "It's just only advancing. They're leaders in battery technology. They're leaders in development. They have the lowest cost structure in the industry." The Detroit company has struggled to reverse slowing sales in China, with Ford now focused on using the country as an export hub. Tariffs imposed by the US have complicated the China business for Ford and its peers, as imports from the country face steep levies.

Japanese vehicle sector discusses shared design

Japanese news outlet Nikkei reported on Wednesday that Japan's automakers and suppliers are undertaking a rare industry-wide effort to boost their competitiveness against Chinese rivals which have pulled ahead in the smart vehicle race. ASRA, a consortium that includes Toyota, Nissan and Honda, is leading discussions to create a standardized design for next-generation automotive chips that it hopes to have ready by March 2029. Standardizing chip development would help car companies reduce costs and accelerate development schedules. An executive of ASRA said that Japan is lagging behind in having the appropriate hardware to ensure real-time control, functional safety and reliable operational software capabilities. He also mentioned that Japanese automakers may be trailing China by two to three years in software-defined vehicles.

First electric Ferrari due in October, says chairman

Ferrari has been preparing for years for electrification, starting with Formula One powertrains, as it nears the launch of its first fully electric model in October, Executive Chairman John Elkann said on Wednesday. The luxury sports carmaker started selling hybrid models in 2019 and is scheduled to reveal its first EV on Oct 9. "Electrification has been a path that we've been pursuing now for decades, starting in Formula One and then from our race cars to our sports cars," Elkann said during the company's annual shareholders' meeting. Elkann said Ferrari was committed to "complete control "over key components of its sports cars. He said the facility Ferrari inaugurated in June in its hometown of Maranello, the so-called e-building, would give the company increased manufacturing flexibility to develop its future models.

Motoring - Agencies