Latest in Automotive
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Business Standard
16 minutes ago
- Automotive
- Business Standard
UK car theft crisis near 15-year high as manufacturers face high-tech gangs
To the untrained eye, the red shipping container at Felixstowe looked no different to the thousands of others stacked up at Britain's busiest seaport. Destined for Africa, its contents were listed as 'household goods,' but to police officer Adam Gibson, something didn't add up. So workers broke into the container. Gibson was right. Inside were four sport utility vehicles—three Toyota RAV 4s and a Lexus RX 450h. Two were on the ground and the others were dangling from the roof, squeezed in like Tetris blocks. After they were lifted out on a forklift, Gibson ran checks. The cars were all stolen and their license plates had been changed. The thieves he's up against are not just opportunists or joyriders. Most vehicle theft nowadays is orchestrated by organized gangs cashing in on overseas demand for SUVs. And with numbers climbing, police have struggled to stop it: for each stolen car Gibson and his colleagues intercept, he estimates that another nine slip through their fingers. 'It's not amateurs that are playing at this,' Gibson said. 'This is proper business.' As cars have become increasingly high-tech, a technological arms race has also kicked off between manufacturers and thieves. Data from the Office for National Statistics shows that 58 per cent of vehicle thefts in England and Wales in the year ending April 2024 happened with the help of 'signal-jammers'—electronic tools capable of disrupting remote locking devices. That was up from 40 per cent the previous year. Toyota, which also owns Lexus, said theft in recent years had reached 'almost epidemic proportion in the UK.' In response, carmakers have introduced keyless technology that 'goes to sleep' when not in use, trackers to keep tabs on a stolen vehicle's location and other security measures. Toyota said it's invested millions in combatting signal jammers, which can cost as much as £30,000 apiece. Jaguar Land Rover, whose luxury SUVs are so attractive to thieves that insurance companies have been reluctant to cover them, recently rolled out a software upgrade for some models that makes it impossible to drive a car without having its keys. 'It's like a game of tennis,' Gibson said. 'Criminals come out with a new bit of kit, manufacturers will get round it, sometimes by buying it on the dark web and reverse-engineering it. But five minutes later, once they've stopped it, they've come out with a new bit of kit.' By the time a stolen car arrives at a port, owners have usually already filed a claim with insurers, which tend to quickly write off a vehicle and pay up. Those hoping to recover their cars, however, stand the best chance of doing so while they're still in the UK. Even if trackers do locate the vehicle abroad, it can be difficult to get a foreign country's authorities to collaborate, and repatriation costs are not cheap. According to data from NaVCIS and analysts at Thatcham Research, nearly 40 per cent of stolen cars intercepted at British ports between 2021 and 2024 were destined for the Democratic Republic of Congo, whose centralized location and access to seaports makes it a good hub for distributing cars across Africa. An additional 20 per cent were headed to the United Arab Emirates, which saw normal delivery channels disrupted last year following a flood. Almost 7 per cent were to be sent to Cyprus and nearly 6 per cent to Jamaica, both countries where cars drive on the left, like in the UK. Another 5 per cent were headed to Georgia, which offers easy access to Russia, where cars are sold on the black market to bypass international sanctions. At Felixstowe, Gibson relies on intuition and red flags to spot suspicious shipments. A container registered to a person associated with previous criminal activity might set off an alarm, for instance, as would a container that's heavier or lighter than its listed contents suggest. Yet with around 60,000 containers moving through UK ports every day, gangs exploit the fact that the vast majority of them will never be checked. 'They know there's a very slim chance of actually being caught,' said Simon Hurr, a vehicle security expert at Ford. And among those who were caught and charged with vehicle theft between 2022 and 2023, the conviction rate was just 2 per cent. Alongside Gibson, NaVCIS employs just two other patrol officers to cover four ports in the south of England, and about nine additional office staff. After the Home Office cut support for the agency, it has relied entirely on private funding—primarily from the Finance & Leasing Association, the trade body for motor finance—to cover its costs. As car theft has become more organized, however, 'policing hasn't kept pace,' said Mark Kameen, project lead for the recently established National Vehicle Crime Reduction Partnership (NVCRP). The joint initiative, put together by police, the Home Office and automakers like JLR and Toyota, helps coordinate the response to vehicle thefts, including by organizing raids on gangs. While owners are compensated when their cars are taken, vehicle theft isn't a victimless crime. The more cars are stolen, the more insurance premiums go up. In the first three months of the year, British car owners were quoted an average of almost £800 a year for insurance—down from a peak 18 months ago but still far higher than the historical average. The government has taken steps to crack down on car theft. As well as helping set up and fund the NVCRP, it proposed measures in February that would impose a maximum sentence of five years in prison on anyone in possession of a signal jammer. Carmakers are also starting to see their own efforts pay off. JLR said the theft rate of its vehicles has fallen by over 50 per cent since it introduced new security measures in November 2022, and that fewer than four out of every 1,000 of its new cars are stolen. Toyota carried out its own trial last year, fitting some cars with tracking systems. Of those that went missing, 96 per cent were recovered thanks to the trackers, the company said. It now plans to roll them out in certain models as an optional feature. These changes have also had ripple effects on the black market, according to Gibson. While SUVs are still most in demand, he's noticed a move away from luxury vehicles. 'Five years ago, it was Range Rovers, BMW X5s, high-end Mercedes. In the last two or three years, we've started to see Hyundais, Kias and Toyotas.' Cutting open his final container after a busy day at Felixstowe, Gibson discovers a mess of valuable car parts alongside a more curious item: a London ambulance that he suspects is on its way to Ukraine. It's hauled out with a forklift, revealing chopped-up cars stuffed in back of the container that can be sold on for parts. More valuable components are crammed into the ambulance to make use of the space. Gibson's work here is finished. What happens next is up to the insurer.
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Business Standard
16 minutes ago
- Automotive
- Business Standard
Why did Uno Minda share price rise 3% in trade today? Check details here
Uno Minda shares gained 2.9 per cent in trade on Friday, June 20, 2025, logging an intraday high at ₹1,067.1 per share on BSE. At 12:22 PM, Uno Minda share price was trading 2.23 per cent higher at ₹1,060 per share on the BSE. In comparison, the BSE Sensex was up 0.95 per cent at 82,138.11. The company's market capitalisation stood at ₹60,861.3 crore. Its 52-week high was at ₹1,252.85 per share and 52-week low was at ₹768.1 per share. Why were Uno Minda shares buzzing in trade? The buying on the counter came after its board approved the setting up of a greenfield manufacturing facility for aluminium die casting in Sambhaji Nagar (Aurangabad) Maharashtra. This strategic expansion is aimed at meeting the rapidly growing demand for casting components, particularly in electric two- and four wheelers (e-2Ws and e-4Ws). Aluminium die casting is believed to be essential for creating lightweight, high-performance vehicle platforms. Electric vehicles (EV) need more aluminium-based parts for structure and thermal management than traditional internal combustion vehicles, making advanced die casting crucial for EV powertrains and body components. According to the reports, the upcoming facility will play a vital role in supporting Uno Minda's backward integration strategy by supplying essential casting components to its forthcoming 4W-EV powertrain plant. About Uno Minda Uno Minda is an auto component and systems manufacturing and original equipment manufacturer (OEM). They design and manufacture over 25 categories of components and systems for vehicles across all segments (passenger cars, commercial vehicles, two- and three-wheelers) catering to both internal combustion engines (ICE) and electric/hybrid vehicles. It is one of the leading manufacturers of automotive switching systems, automotive lighting systems, automotive acoustics systems, automotive seating systems, and alloy wheels. It has a leadership position in almost all the products it manufactures. Technology and innovation are the two strong pillars of the organisation, on the basis of which it has continued to lead the emerging trends in the automotive sector, over the past six decades.
Yahoo
17 minutes ago
- Automotive
- Yahoo
Safety Under Pressure: Chery Battery Faces Indonesian Ocean for 53+Hours
JAKARTA, Indonesia, June 20, 2025 /CNW/ -- On June 17, Chery commenced the second stage of its Global Safety Challenge in Jakarta, Indonesia, focusing on the "extreme humidity" scenario within its six-dimensional safety evaluation system (heat, cold, dryness, humidity, high-speed, and rough terrain). This rigorous test validated the moisture and corrosion resistance of the "Guardian Battery" in Chery Super Hybrid (CSH). Mr. Heri Prabowo, Head of the Sub-Directorate of Motor Vehicle Type Testing, Ministry of Transportation, and Mr. Christian Andersen, Notary, along with representatives from 80 leading media outlets and industry KOLs, attended the event to witness the battery's performance after 53 hours and 51 minutes of continuous saltwater soaking—demonstrating zero leakage, zero short circuit, and no signs of thermal runaway. The battery maintained structural integrity and passed all technical validations for electrical insulation. Once installed in the vehicle, it started successfully on the first attempt and delivered stable power throughout the road test, completing the rigorous challenge with zero anomalies. CSH's "Guardian Battery" features IP68-rated waterproof and dustproof certification, an ultra-fast 2ms power cut-off response, an ultra-wide operating temperature range from -35°C to 60°C, and a 24/7 real-time health monitoring system—delivering comprehensive battery safety backed by advanced intelligent technologies. On the passive protection front, TIGGO8 CSH is equipped with a high-strength steel underbody shield with a tensile strength of 780 MPa, significantly enhancing the vehicle's overall safety performance. At the event, TIGGO8 CSH's spacious "5+2" seating layout and V2L ecosystem drew significant attention from guests. With the third-row seats folding flat at the touch of a button, the class-leading 1,930L trunk, paired with 36 storage compartments and a powerful 3.3 kW V2L system, TIGGO8 CSH provides a comfortable and enjoyable travel experience for the whole family on every journey. Committed to safety excellence, Chery continuously elevates technological innovation with user-centric engineering, benchmarking against industry leaders like Volvo through rigorous global safety challenges. As the second stage in Chery's global safety challenge, the Indonesian battery safety test in extreme humidity further validated the brand's safety technology. Looking ahead, Chery will conduct a rigorous underbody scraping test in the Mexican market to further evaluate the safety performance of CSH—highlighting Chery's commitment to delivering safer and more reliable mobility solutions to global customers. View original content to download multimedia: SOURCE Chery Automobile Co., Ltd. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
19 minutes ago
- Automotive
- Globe and Mail
Is Tesla a Millionaire-Maker Stock?
Tesla 's (NASDAQ: TSLA) stock has already created plenty of millionaires. After all, its CEO, Elon Musk, is the world's richest man, due in large part to his 13% stake in the company. But past performance doesn't guarantee future success. It's unclear if Tesla still has what it takes to continue its bull run, especially as political pressure and electric vehicle (EV) industry weakness bite. Let's dig deeper to decide if Tesla's pivot to new opportunities, like robotics and self-driving technology, could help it overcome its weaknesses in its legacy automotive operations and its uncomfortably high valuation. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Tesla can't just be another automaker Cars have been around for over 100 years, which means the industry is incredibly mature, leading to low margins and stiff competition. For a time, Tesla had been able to buck these dynamics through high levels of vertical integration, economies of scale, and innovations like giga casting, which replaced complex assembled parts with large single-piece structures. But over time, the company's economic moat has eroded. The main challenge has been competition from low-cost Chinese EV rivals like BYD and legacy automakers like Ford and General Motors, which have leveraged their massive production infrastructure and dealership networks to scale rapidly. However, Musk certainly hasn't made things easier through his foray into U.S. politics, with his outspoken support for President Donald Trump. Taking a strong political position on one side or the other will inevitably rub a large portion of potenital buyers the wrong way. Tesla's first-quarter earnings demonstrate its deteriorating brand appeal. Revenue dropped 9% year over year to $21.3 billion, driven by a 20% collapse in the automotive segment, which represents 82% of sales. The collapse was worst in Europe. Sales on the continent slumped by a stunning 37.2%. The good news is that Tesla's U.S. operations have held up much better -- for now. Trump remains a wild card for Tesla So far, many American consumers appear to be keeping their politics separate from their car-buying decisions. U.S. first-quarter sales were down by a relatively modest 9%, according to data from Cox Automotive. However, it's unclear how much longer Tesla's honeymoon period will last. Musk has had public disagreements with Trump over his Big Beautiful Bill legislation, which is currently being debated in Congress. The bigger threat could come from Trump's legislation, which could strip away the $7,500 tax credit for EV purchases. The loss of government support could undermine Tesla's U.S. business, just as it is facing international weakness and higher costs from tariffs. CNN also reports that under the current language, support may remain for smaller EV companies like Rivian and Lucid, allowing them to maintain lower prices and eat away at Tesla's market share. Robotics and AI will make or break Tesla With a price-to-earnings (P/E) ratio of 186, Tesla stock is abnormally expensive for a business with declining sales and profitability. The valuation seems to price in the expectation of dramatic operational growth from its self-driving and robotics ambitions. There is some reason to be excited. Analysts at McKinsey & Company believe autonomous driving could generate $300 billion to $400 billion in revenue by 2035. Tesla seems to be an early leader in the opportunity, with plans to launch automated taxis in Austin, Texas this month. The company's focus on low-cost cameras and "computer vision" could give it an edge over rivals like Waymo (a subsidiary of Alphabet), which relies on pricey LiDAR and must source its vehicles from expensive third-party suppliers, adding cost and complexity to its operations. But while Tesla definitely has the potential to make more millionaires, success is already priced into its valuation. So, the downside risk seems to outweigh the upside right now -- especially considering the immense political uncertainty Musk has brought upon the company. Don't miss this second chance at a potentially lucrative opportunity Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $377,293!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $37,319!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $659,171!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join Stock Advisor, and there may not be another chance like this anytime soon. See the 3 stocks » *Stock Advisor returns as of June 9, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Will Ebiefung has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Tesla. The Motley Fool recommends BYD Company. The Motley Fool has a disclosure policy.
Korea Herald
20 minutes ago
- Automotive
- Korea Herald
EV battery recycling heats up in Korea despite market slump
Industry eyes rebound by 2030 as used batteries pile up, global recycling mandates kick in Korea's industry giants are stepping up their involvement in the electric vehicle battery recycling sector, signaling expectations that the currently subdued industry will evolve into a critical component of the battery value chain. LG Energy Solution, Korea's largest battery maker, recently formed joint ventures in Europe and the US — with France's Derichebourg and Toyota Tsusho Co., respectively — marking its first direct steps into battery recycling operations in both regions. SK Ecoplant, a construction engineering unit of SK Group, is expanding its European facility in the Netherlands to add 25,000 metric tons of annual black mass processing capacity, with completion scheduled for 2025. Posco-GS Eco Materials, a 51:49 joint venture between Posco Holdings and GS Energy, acquired full control of its battery recycler, Posco HY Clean Metal, by purchasing the 35 percent stake held by China's Huayou Cobalt in April. 'It is late compared to other countries' battery industries, as even Chinese companies such as CATL have their own recycling business,' said Park Cheol-wan, a car engineering professor at Seojeong University. 'Yet it is the right path for Korean companies, as securing a stable supply chain for minerals will become increasingly significant.' These moves come as the battery recycling sector continues to suffer a deep slump, driven by sluggish EV demand and sharp declines in the prices of key battery minerals such as nickel, lithium and manganese. International lithium carbonate prices, which were above 450 Chinese yuan ($63) per kilogram in January 2023, have fallen to around 50 yuan. Nickel prices also dropped significantly, from over $31,000 per ton to around $20,000. As a result, SungEel HiTech, one of only two battery recycling companies listed on Korea's tech-focused Kosdaq, has experienced declines in profitability and free cash flow for two consecutive years. A joint battery recycling project between SungEel HiTech and SK Innovation, announced in 2022, has been indefinitely delayed, while SK Ecoplant's planned facilities in Gyeongju, North Gyeongsang Province, and Kentucky have also shown no signs of progress for years. The industry, however, anticipates a significant increase in the number of used EV batteries as they reach the end of their life cycle, which is estimated to be around 10 years. This follows the surge in global EV sales in the 2010s, which surpassed one million units in 2015. With the continued growth of EV adoption, the battery recycling market — valued at $8 billion in 2022 — is projected to expand to as much as $53.57 billion by 2030, according to SNE Research. Experts say that entering the battery recycling business is increasingly becoming essential for staying competitive in the battery industry, as global policy trends push for recycled minerals to be a core component of battery supply chains. The European Union requires all EV batteries placed within the region to meet minimum recycled metal content thresholds by 2031: 16 percent for cobalt, 85 percent for lead, 6 percent for lithium and 6 percent for nickel. These requirements will increase by 2036. Meanwhile, EVs with some key battery components or minerals sourced from foreign entities of concern are excluded from US tax credits under the Inflation Reduction Act, pressuring battery makers to secure materials domestically, often through recycling. 'It is more a matter of broader business strategy than the profitability of recycling itself, whether companies choose to outsource recycled materials or secure them in-house,' Park added. '(With policy changes in place,) it may become faster to secure used batteries rather than invest in new mines, exploration, refining and metal procurement. To ensure a stable supply of critical minerals, battery makers will be competing as if at war.'
