Short Torque

Waymo expands autonomous fleet

Alphabet Inc's Waymo is expanding its partnership with Fiat Chrysler Automobiles NV by adding tens of thousands of minivans to its fleet of self-driving cars and the two said the autonomous vehicles could eventually be sold to the public. The addition of 62,000 Chrysler Pacifica plug-in hybrid minivans builds on a commitment announced in January to buy an unspecified number of the vehicles, which are kitted out with sensors that can see hundreds of yards in any direction.

Tariffs to make models costlier

The Trump administration's tariffs on steel and aluminum imported from the European Union, Canada and Mexico will make cars more expensive, threaten jobs and slow the adoption of technologies that keep consumers safe and save fuel, automakers' US trade groups said. "These tariffs will result in an increase in the price of domestically produced steel - threatening the industry's global competitiveness and raising vehicle costs for our customers," said Gloria Bergquist, a spokeswoman for the Alliance of Automotive Manufacturers.

Biggest battery maker curbs IPO

The world's biggest maker of electric vehicle batteries is reining in its initial public offering after its profitability weakened, pricing the sale to raise less than half of what it originally planned. Contemporary Amperex Technology Ltd said late Monday it plans to sell a 10 percent stake at 25.14 yuan a share. That would value it at about $8.5 billion, down from a goal of about $20 billion the company had late last year. The reduced target is the result of a decline in the company's margins, and a cap imposed by Chinese authorities on price-earnings ratios in IPOs.

Forum to focus on quality growth

The annual International Forum (TEDA) on Chinese Automotive Industry Development will be held from Aug 31 to Sept 2 in North China's port city of Tianjin, said the organizers at a news conference in Beijing. The forum, which will focus on the sector's sustainable and quality development in China, will offer a more open and comprehensive platform for participants. Among others, it will organize summits dedicated to both Chinese brands and international ones.

Electric vehicles to triple in two years

Teslas and Nissan Leafs are likely to become a much more common sight on the world's roads in the next two years, the International Energy Agency says. The global fleet of electric vehicles is likely to more than triple to 13 million by the end of the decade from 3.7 million last year. Sales may soar 24 percent each year on average through 2030. The findings illustrate the speed at which the world's transportation system is shifting toward cleaner fuels as governments focus on limiting pollution and greenhouse gases.

Motoring - Agencies

(China Daily 06/04/2018 page19)