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Child cobalt miners: Automakers pledge ethical minerals sourcing for EVs

BERLIN - Leading carmakers including Volkswagen and Toyota pledged on Wednesday to uphold ethical and socially responsible standards in their purchases of minerals for an expected boom in electric vehicle production. Demand for minerals such as cobalt, graphite and lithium is forecast to soar in the coming years as governments crack down on vehicle pollution and carmakers step up their investments in electric models. To cover its plans for more than 80 new models by 2025, Volkswagen alone is looking for partners in China, Europe and North America to provide battery cells and related technology worth more than 50 billion euros ($59 billion). Talks with major cobalt producers, including Glencore, at VW's Wolfsburg headquarters last week ended without a deal. More than half of the world's cobalt comes from the Democratic Republic of Congo, a country racked by political instability and legal opacity, and where child labor is used in mines. On Wednesday, a group of 10 leading passenger-car and truck manufacturers announced an initiative to jointly identify and address ethical, environmental, human and labor rights issues in raw materials sourcing. The partnership dubbed "Drive Sustainability" consists of VW, Toyota Motor Europe, Ford, Daimler, BMW, Honda, Jaguar Land Rover, Volvo Cars and truckmakers Scania and Volvo. The alliance "will assess the risks posed by the top raw materials (such as mica, cobalt, rubber and leather) in the automotive sector," said Stefan Crets of the CSR Europe business network. "This will allow Drive Sustainability to identify the most impactful activities to pursue" to address issues within the supply chain.Reporting by Andreas Cremer.Related Video: Image Credit: Michael Robinson Chavez/The Washington Post via Getty Images Green BMW Ford Honda Jaguar Land Rover Mercedes-Benz Automakers Toyota Volkswagen Volvo Green Automakers Green Culture Electric Scania ethics mining

Jaguar Land Rover posts profitable quarter amidst big yearly losses

Jaguar has posted its first profit in quite some time, as the financial quarter ending on March 31 brought in a net income of $151.6 million. However, that is the light in the end of the tunnel, as full year results through March showed a $4.58 billion loss (GBP3.6 billion). The losses are again attributable to declining sales in China, with a whiff of the still-lingering Brexit process. While JLR's annual U.S. sales were up 8.1 percent, and U.K. sales improved by 8.4%, overall sales came down 5.8% to 578,915 vehicles. For April, Chinese sales nearly halved as they dropped by 46 percent. Earlier this year, JLR's woes caused its owner Tata Motors to post the biggest ever quarterly loss in Indian corporate history, at nearly $4 billion. JLR's CEO Ralf Speth stated that the company is "reducing complexity" and transforming its business by cost savings and cash flow improvements, citing the fourth-quarter profits as an example of the ongoing turnaround. Speth said JLR has already managed to deliver $1.59 billion (GBP1.25 billion) of efficiencies and savings. JLR says its turnaround program, dubbed Charge, will drive it to at least $3.18 billion (GBP2.5 billion) of investment, working capital and profit improvements by March 2020, and that it currently has $4.84 billion (GBP3.8 billion) of cash. Speth continued that JLR will "go forward as a transformed company that's leaner and fitter," and that the sustained investment in new products and technologies will drive future demand. There has been earlier speculation of Tata Motors selling JLR to the PSA Group, but as Autocar reports, Tata's financial chief again refuted these rumors. JLR also announced today that its CFO of 11 years, Ken Gregor is stepping down after 22 years with the company, and that he will be succeeded by JLR's Chief Transformation Officer, Adrian Mardell.

Jaguar Land Rover reveals Bond cars [w/video]

We interrupt your regularly scheduled Frankfurt Motor Show coverage to bring you something far cooler. Jaguar Land Rover has officially introduced the cars it's lending to the latest James Bond film, Spectre. There's not much that wasn't previously covered as part JLR's February 2015 release, although there are some comments from the stars, as well as a pair of behind-the-scenes videos. At the very forefront of the British brand's charge is the Jaguar C-X75, the stillborn concept that set hearts aflutter with its handsome looks and its innovative turbine-powered drivetrain. According to Jaguar Land Rover, the orange supercar will be piloted by baddie Dave Bautista as part of an enormous chase scene throughout Rome. Meanwhile, Eve Moneypenny, played by Naomie Harris in her second Bond flick, will pilot the blacked-out Defender. For those that remember Skyfall, Miss Moneypenny spent most of the film's pre-title sequence tearing through Istanbul, Turkey behind the wheel of a silver Defender. Joining the Defender is the most powerful vehicle Land Rover has ever produced. The new Range Rover Sport SVR will show up wearing a menacing black paint job and featuring some extra lighting on both its roof and in its bumper. It's not clear who will be driving the 550-horsepower SVR, but in the photos released by JLR, it's shown trading places with a pair of Defenders as they rampage through the Austrian snow. Check out the photos of the vehicles below. You'll find both studio stuff and some set photos. There's also a full press release from JLR, as well as a pair of behind-the-scenes videos. Show full PR text Jaguar and Land Rover stunt vehicles Jaguar C-X75, Range Rover Sport SVR and Land Rover Defender make international debut in Frankfurt, Germany ? SPECTRE cast members Naomie Harris and David Bautista attend star-studded event ahead of reveal at motor show ? Guests entertained by British singer and musician John Newman ? Jaguar Land Rover Special Vehicle Operations [SVO] as well as Jaguar and Land Rover Design worked with filmmakers on the conception and creation of the Bond ? SVO is responsible for the most luxurious and highest performing cars that Jaguar Land Rover makes ? Jaguar and Land Rover to release exclusive and interactive behind-the-scenes SPECTRE content on www.JaguarUSA.com and www.LandRoverUSA.com (FRANKFURT, GERMANY) – September 15, 2015 - Today, Jaguar Land Rover celebrated their vehicles appearing in the new Bond adventure, SPECTRE.