Summary

• Uchida faces pressure to deliver Nissan’s turnaround
• Nissan’s missteps include lack of hybrids in U.S. market
• Activist investors build stakes amid Nissan’s struggles
• Nissan acknowledges industry troubles, says CEO working to make company leaner, more resilient

TOKYO, (Reuters) – In early October, Nissan Motor managers dialed in for a regular online meeting with boss Makoto Uchida only to hear a grim message: business was worse than expected and the Japanese car maker had to cut jobs and production. Continue reading “Nissan boss Uchida races to save the automaker – and his job”

Source : PTI | JBM Group on Tuesday said it has entered into a strategic partnership with Singapore-based Keppel Ltd to devise sustainable solutions in areas of electric mobility, EV charging, renewables and battery energy storage systems. Under the partnership, JBM Group and Keppel, jointly aim to drive innovation for decarbonising urban infrastructure, provide customised solutions for rising demand in electro-mobility and electric-waste (e-waste) management and capture the opportunities for more sustainable electricity in commercial and industrial sectors, the company said in a statement.

Keppel, a global asset manager and operator with expertise in sustainability related solutions spanning the areas of infrastructure, real estate and connectivity, brings to the partnership its leading-edge capabilities in integrated clean energy, electric vehicle (EV) charging and resource circularity solutions, it added. Continue reading “JBM, Keppel join hands to devise sustainable solutions for EV ecosystem, energy storage”

NEW DELHI, (Reuters) – IndiGo, India’s biggest airline, has sued automaker Mahindra and Mahindra for trademark infringement over its use of “6E” in branding its latest electric vehicle, legal papers show.

Mahindra in a stock exchange filing, denied any wrongdoing, saying its recently launched electric vehicles “BE 6e” and “XEV 9e” had the necessary trade mark registration and there was no conflict with the “standalone ‘6E'” branding used by IndiGo. Continue reading “India’s IndiGo sues Mahindra in fight over use of ‘6E’ branding”

(Reuters) – A slew of automotive companies across Europe have announced plant closures and big layoffs recently as they struggle with weak demand, high costs, competition from China and a slower-than-expected transition to electric vehicles.

Below are layoffs and site closures announced in recent months (latest first): Continue reading “Europe’s embattled auto sector plans plant closures and layoffs”

(Reuters) – The National Highway Traffic Safety Administration said on Tuesday that General Motors is recalling about 132,037 trucks due to concerns about tailgates unlatching unexpectedly.

The recall affects certain 2024 models of Chevrolet Silverado HD 2500, 3500, and GMC Sierra HD 2500, 3500 vehicles equipped with power-unlatching tailgates. Continue reading “GM recalls over 132,000 trucks over tailgate unlatching, NHTSA says”

WASHINGTON, (Reuters) – U.S. passenger railroad Amtrak said on Tuesday ridership topped 2019 pre-COVID levels for the first time in 2024 and reached a record high even with less capacity.

Ridership increased 15% over 2023 to a record 32.8 million customer trips, as passenger revenue hit $2.5 billion, up 9% over the prior year, while total operating revenue was $3.6 billion, up 7%. Amtrak reported an adjusted operating loss of $705 million for the 12 months ending Sept. 30, down 9% over 2023. Continue reading “US railroad Amtrak sets passenger record in 2024”

Source : PTI | Eicher Motors Ltd on Sunday said its arm VE Commercial Vehicles posted 7.3% rise in total sales at 5,574 units in November 2024 as compared to the same month last year. VE Commercial Vehicles (VECV), a joint venture of the Volvo Group and Eicher Motors, had sold 5,194 units in November 2023, Eicher Motors said in a regulatory filing.

November 2024 sales included 5,359 units of the Eicher brand and 215 units of the Volvo brand, it added. Continue reading “VECV sales up 7.3% at 5,574 units in Nov”

Source : PTI | Mahindra & Mahindra on Monday said its total sales increased 125 year-on-year to 79,083 units in November. The auto major had dispatched 70,576 units to dealers in November 2023.

In the utility vehicles segment, the company sold 46,222 vehicles in the domestic market, a growth of 16% over 39,981 units in the year-ago period, Mahindra & Mahindra (M&M) said in a statement. Continue reading “Mahindra sales up 12% in November with 79,083 units”

Source : PTI | Ride-hailing app Uber has launched its first water transport service in India, with a booking of a shikara at Dal Lake in Srinagar through its app, a senior company official said on Monday. The company introduced the first service of its kind in Asia.

Uber Shikara is our humble attempt to blend technology and tradition to give a seamless experience to travellers for their shikara ride. We are proud to create this iconic experience enhancing accessibility and uplifting tourism in the breathtaking landscape of Kashmir,” Uber India and South Asia, President, Prabhjeet Singh said. Continue reading “Uber rolls out water transport service with shikara bookings on its app”

(Reuters) – India is investigating three electric vehicle makers for fraudulently availing government subsidies totaling 2.97 billion rupees (about $35 million), the Ministry of Corporate Affairs (MCA) said on Monday.

The Serious Fraud Investigation Office conducted search operations at Hero Electric Vehicles, Benling India Energy and Technology and Okinawa Autotech Internationall and found that they were violating guidelines tied to a production-linked government subsidy program, the MCA said. Continue reading “India says it is probing three EV makers for fraudulently availing subsidies”

(Reuters) – U.S. President-elect Donald Trump said on Monday a series of tax incentives and tariffs will revive storied American firm U.S. Steel as he reiterated his opposition to Nippon Steel’s planned $15 billion purchase of the company.

“I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,” Trump wrote on his social-media platform Truth Social. Continue reading “Trump reiterates opposition to Nippon Steel’s takeover of U.S. Steel”

Summary

• Tens of thousands of workers to strike across VW’s German plants
• VW has demanded 10% wage cut and threatened site closures
• Negotiations to continue on Dec. 9

HANOVER/BERLIN (Reuters) – Workers at nine Volkswagen car and component plants across Germany started two-hour strikes on Monday, bringing assembly lines to a halt as labour and management clash over the future of Europe’s biggest carmaker. Continue reading “Nine Volkswagen plants on strike as worker rift with management deepens”

Summary

• Under Tavares leadership group lost significant market share in Europe
• Inflation-hit consumers, dealers view some Stellantis models as expensive
• Group shares are down more than 40% this year
• Competition from Asian automakers undermined Stellantis’ pricing strategy

MILAN, (Reuters) – When 24-year-old Elena Aragon set out to buy a new car, she reviewed a range of no-frills brands in her home town of Cadiz, Spain, including Stellantis’ Fiat and Peugeot. Continue reading “Seeking higher margins, Stellantis CEO Tavares lost some core customers”

(Reuters) – U.S. lender JPMorgan Chase agreed on Friday to drop its lawsuit against Tesla that accused the electric vehicle maker of “flagrantly” breaching a contract between the two companies in 2014 relating to warrants Tesla sold to the bank.

The move to drop the lawsuit was announced in a one-page court filing by both companies in a Manhattan court, where they said they will drop their claims against each other. Continue reading “JPMorgan agrees to drop lawsuit against Tesla over stock warrants”

BEIJING, (Reuters) – China’s Baidu has received a licence to test autonomous vehicles with its Apollo Go robotaxi service in Hong Kong as it expands its footprint outside the Chinese mainland.

Baidu Apollo International Ltd was approved to conduct trials for 10 autonomous vehicle in North Lantau, according to a statement released by Hong Kong’s Transport Department on Friday. Continue reading “Baidu’s Apollo autonomous vehicles granted licence to test in Hong Kong”

SYDNEY, (Reuters) – Australia appointed Tesla chair Robyn Denholm on Monday to lead a review of the country’s research and development performance, in an attempt to improve economic growth.

Denholm and three other panellists drawn from academia and business will be tasked with creating a more purposeful approach to R&D, including strengthening links between research and industry. Continue reading “Australia appoints Tesla chair Denholm to lead review on R&D performance”

Summary

• Resignation has immediate effect
• New CEO to be found in first half next year
• Company to be run by interim executive committee

MILAN/DETROIT, (Reuters) – Stellantis Chief Executive Carlos Tavares resigned abruptly on Sunday, two months after a profit warning at the maker of Jeep, Fiat and Peugeot cars that has lost around 40% of its value this year. Continue reading “Stellantis CEO Carlos Tavares abruptly quits as US Jeep, Ram sales falter”

Source : PTI | Austrian bike maker KTM on Saturday said the judicial restructuring of its holding firm Pierer Mobility AG has no impact on business related to products co-developed with Bajaj Auto for Indian domestic market and select export markets. However, it is impacting business of Pierer Mobility AG/KTM AG that is run out of Austria, including exports from Austria, India and China to its key markets in the US and Europe.

On November 26, given the immediate liquidity constraints, the Executive Board of KTM AG has decided to file an application for the initiation of judicial restructuring proceedings with self-administration over the assets of KTM AG and its subsidiaries KTM Components GmbH and KTM F&E GmbH, the company said in a statement. Continue reading “No impact on India business with Bajaj Auto due to restructuring of holding firm: KTM”

Source : PTI | New Delhi: Toyota Kirloskar Motor (TKM) on Sunday said its total sales rose 44% year-on-year to 25,586 units in November. The automaker had sold 17,818 units in November last year.

“Our diverse portfolio, spanning from hatchbacks to SUVs, continues to offer tailored mobility solutions that resonate with varying lifestyles,” TKM Vice President, Sales-Service-Used Car Business Sabari Manohar said in a statement.

Continue reading “Toyota Kirloskar Motor sales up 44% in November at 25,586 units”

Source : PTI | Mahindra & Mahindra will utilise its existing sales network to sell its electric vehicle range as the automaker looks to offer all the choices to customers under one roof, according to a top company executive. The Mumbai-based automajor, which sells models like Thar and Scorpio, has now expanded its electric vehicle range with the launch of two all-new ground up models — BE 6e and XEV 9e.

“One of the reasons, why we want to keep the sales channel the same, is because we want to give the customer the choice between ICE (internal combustion engine cars) and EVs,” Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar told PTI in an interaction. Continue reading “M&M to sell EVs through existing sales network to offer all choices under one roof”