STOCKHOLM, (Reuters) – Scania said on Monday it had secured a new supply of battery cells in addition to its deal with Northvolt, as the Swedish truckmaker warned it will miss its 2025 targets to cut emissions due in part to problems with electric battery deliveries.

Northvolt, once considered Europe’s best hope for an electric vehicle battery champion, filed for U.S. Chapter 11 bankruptcy protection last November and is seeking to raise cash and restructure its debt. Continue reading “Northvolt shareholder Scania gets additional battery cell supply”

Summary

• Ford’s German unit has 5.8 bln euros of debt
• Deal replaces agreement that saw Ford cover unit’s losses
• IG Metal: Ford Germany could face insolvency in future

FRANKFURT, (Reuters) – Ford will inject up to 4.4 billion euros ($4.8 billion) into its struggling German operations as it tries to revive its European business, the U.S. carmaker said on Monday. Continue reading “Ford to inject up to $4.8 billion to shore up cash-strapped German unit”

Summary

• Not clear if Uchida will immediately depart, sources have said
• CFO, heads of planning and performance seen as possible successors
• Details of restructuring efforts may also emerge

YOKOHAMA, Japan, (Reuters) – Nissan’s board of directors will meet on Tuesday to discuss potential successors to CEO Makoto Uchida, who is under pressure to step down due to the Japanese automaker’s worsening earnings performance and failed merger talks with Honda. Continue reading “Nissan board meets Tuesday to discuss whether to replace CEO Uchida”

Summary

• Tesla’s stock keeps falling, losing post-election gains after Musk backed Trump
• Shares drop more than 15%, making it the worst S&P performer on Monday
• Investors still question whether stock is overpriced as EV business falters
• Most of Tesla’s sky-high value is based on robotaxis and robots it hasn’t yet produced

(Reuters) – Tesla’s stock has dropped by nearly half in three months. Even so, investors are still debating whether Elon Musk’s electric-vehicle maker remains overpriced. Continue reading “Tesla’s stock defied gravity for years. Is Elon Musk’s EV party over?”

Source : PTI | The Maharashtra government on Monday proposed a 6 per cent tax on electric vehicles priced more than Rs 30 lakh in the budget for the fiscal 2025-26. Deputy Chief Minister Ajit Pawar, who also holds the finance portfolio, tabled the budget and announced a 1 per cent hike in the Motor Vehicle Tax on CNG and LPG vehicles.

The government has also proposed a 7 per cent tax on vehicles used for construction activities, which will generate additional revenue of approximately Rs 180 crore. Continue reading “Budget 2025-26: Maharashtra govt proposes 6% tax on EVs costing more than Rs 30 lakh”

LISBON, (Reuters) – Dozens of demonstrators gathered at the Tesla showroom in Lisbon on Sunday to protest against CEO Elon Musk’s support for far-right parties in Europe as Portugal heads toward a likely snap election.

Musk has used his X platform to promote right-wing parties and figures in Germany, Britain, Italy and Romania. He has not waded into politics in Portugal where the far-right Chega party has surged to become the third largest force in parliament. Continue reading “Dozens protest at Tesla showroom in Portugal ahead of likely snap election”

Source : PTI | Ride-hailing app Rapido is in the midst of a 500-city expansion this year in India, a market where “vastness and depth” of mobility opportunity offers a high-growth upside, according to cofounder Pavan Guntupalli.

On whether the company is eyeing an IPO in the near term, Guntupalli told PTI that Rapido is clocking healthy growth, is well capitalised and “will take a call depending on situation”. The focus, for now, is on growth, he asserts. Continue reading “Rapido in midst of 500-city expansion; mobility opportunity offers strong upside: Cofounder P Guntupalli”

Source : PTI | Union Minister for Electronics and IT Ashwini Vaishnaw on Saturday laid the foundation stone for four manufacturing units at the Electronics Manufacturing Cluster in Mahabubnagar district of Telangana. As part of the ceremony, foundation stones were laid for upcoming Giga Factory-1 of Amara Raja company, critical minerals refining and battery recycling unit of Lohum company, cell casing manufacturing unit of Scell Energy, and first LFP-CAM Giga Factory of Altmin, an official release said.

Addressing the gathering, Vaishnaw said electric mobility remains a focus area for the government. The government is committed to developing the right infrastructure and ecosystem for the promotion and adoption of EVs. Continue reading “Electric mobility key focus area for govt: Union Minister Ashwini Vaishnaw”

Source : PTI | Electric two-wheeler makerAther Energy Ltd has taken a significant step toward its much-anticipated initial public offering (IPO) by converting its outstanding compulsory convertible preference shares (CCPS) into equity.

The move is part of the company’s preparation for its IPO, expected to be launched in April, according to merchant banking sources. According to a Registrar of Companies (RoC) filing accessed by PTI, the company’s board passed a resolution on March 8, 2025, approving the conversion of over 1.73 crore outstanding CCPS into 24.04 crore fully paid-up equity shares.

Continue reading “Ather Energy converts CCPS to equity ahead of IPO”

Source : PTI | India and the 27-nation European Union (EU) bloc will start the tenth round of negotiations for a proposed free trade agreement from Monday in Brussels amid Trump tariff threats, according to an official. The talks are expected to focus on resolving remaining issues so that the agreement can be finalised by the end of this year.

During the recent visit of EU Commissioner for Trade and Economic Security Maros Sefcovic, the two sides have discussed ways to accelerate efforts towards a balanced and mutually beneficial trade pact. Continue reading “India, EU to hold next round of FTA talks from Monday amid Trump tariff threats”

SHANGHAI, (Reuters) – Japan’s Toyota began selling a $20,000 smart electric car in China this week, aiming to attract buyers with its advanced features similar to Chinese rivals, as the automaker ups efforts to regain share in the world’s largest auto market.

Toyota has had limited success so far with its previous electric vehicle (EV) models in a hugely competitive market dominated by local players such as Chinese EV giant BYD. Continue reading “Toyota launches its cheapest smart EV in China, aims to up market share”

FRANKFURT, (Reuters) – Volkswagen and Porsche CEO Oliver Blume said his dual role at the helm of both companies was not meant to last forever but was necessary to complete the restructuring underway at the brand and wider group, WirtschaftsWoche magazine reported on Friday.

Porsche replaced its CFO and sales chief late last month, after both came under heavy criticism for the company’s poor performance and weak share price. Continue reading “Porsche and Volkswagen CEO to keep dual role until restructuring complete, WirtschaftsWoche reports”

TOKYO, (Reuters) – S&P Global Ratings said on Friday it had cut its long-term issuer credit ratings on Nissan Motor to ‘BB’.

It said that “prospects for a fast improvement in Nissan Motor’s automotive business to levels comparable with similarly rated peers’ are now remote”. Continue reading “S&P cuts Nissan credit rating to ‘BB’”

TOKYO, (Reuters) – Directors of Japan’s third-largest automaker Nissan will discuss potential successors to CEO Makoto Uchida at a meeting on March 11, as his position has become untenable given the worsening performance of the company, three people familiar with the matter said.

Candidates being considered include Chief Financial Officer Jeremie Papin and Chief Planning Officer Ivan Espinosa, one of the people and a fourth person said, but neither are seen as a certainty, especially considering their association with current management missteps. Continue reading “Nissan board to discuss potential CEO successors at March 11 meeting, sources say”

Source : PTI | India, the world’s third largest oil consuming and importing nation, spent 112.5 billion euro (about Rs 1.5 lakh crore) on buying crude oil from Russia since the start of the Ukraine war, a European think tank said on Thursday. The Centre for Research on Energy and Clean Air (CREA) released a report on payments to Russia for fossil fuels since February 24, 2022.

“According to our estimates, since the beginning of the war, Russia earned EUR 835 billion in revenue from fossil fuel exports,” it said. Continue reading “India bought Rs 1.5 lakh crore worth of Russian oil since Ukraine war”

Source : PTI | Apollo Green Energy (AGEL) on Tuesday said it will set up a subsidiary AGEL Renewable Energy Ltd and invest Rs 500 crore to develop 1 GW renewable energy portfolio over the next 2-3 years. The subsidiary will focus on utility-scale solar while integrating advanced energy storage solutions, including hydrogen-based systems, a company statement said.

According to the statement, through this investment, AGEL Renewable Energy Ltd aims to develop a 1GW renewable energy portfolio over the next 2-3 years, starting from FY26, to bridge critical gaps in India’s renewable energy landscape and contribute to the country’s clean energy goals. Continue reading “Apollo Green Energy to form subsidiary; invest Rs 500 cr to build 1GW portfolio”

Source : PTI | Electric passenger vehicle retail sales rose 19 per cent in February to 8,968 units with Tata Motors retaining the top slot in the segment, as per data released by dealers’ body FADA. The total electric passenger vehicle retail sales stood at 7,539 units in the same month last year.

Tata Motors sold 3,825 units while MG Motor India retailed 3,270 units last month.

“Electric passenger vehicles recorded a healthy 18.95 per cent year-on-year increase, reflecting growing consumer awareness and adoption of EVs in the personal mobility space, now achieving a market share of 3 per cent,” FADA President C S Vigneshwar said in a statement. Continue reading “Electric passenger vehicle retail sales rise 19% in February”

WASHINGTON, (Reuters) – The Government Accountability Office said on Thursday the Biden administration’s approval of California’s landmark plan to end the sale of gasoline-only vehicles by 2035 is not subject to review and potential repeal by Congress.

Last month, the U.S. Environmental Protection Agency under President Donald Trump sent the approval to Congress saying it was properly considered a rule under the Congressional Review Act. The GAO said the decision should be considered an order and is not reviewable. Continue reading “US agency blocks vote to repeal California EV rules”

DETROIT, (Reuters) – Volkswagen said on Thursday that its vehicles made in North America will likely avoid being subject to the 25% tariffs U.S. President Donald Trump has imposed on imports from Mexico and Canada, but other carmakers, including BMW, may not be exempt.

Trump granted a one-month reprieve on tariffs to automakers who complied with the United States-Mexico-Canada Agreement (USMCA) rules of origin this week, after saying such duties would go into effect March 4. But which automakers will end up being subject to tariffs isn’t entirely clear. Continue reading “VW may avoid 25% Trump tariff, but BMW and others face trade levy”

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• HCIL offers ADAS across its entire line-up, including the City e:HEV, Elevate, City, and Amaze
• HCIL offers the most affordable ADAS-equipped car in India with the Honda Amaze
• ADAS-equipped variants of the Elevate, City, and Amaze contribute to 60%, 95%, and 30% of their respective sales
• HCIL was the first company to introduce ADAS in manual transmission variants in India starting in 2023

New Delhi,  Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, has reached an important sales milestone with 50,000 ADAS enabled Honda cars now on Indian roads. This achievement underscores HCIL’s commitment to Honda’s global vision of “Safety for Everyone” and its goal to achieve zero traffic collision fatalities involving Honda motorcycles and automobiles by 2050. Continue reading “Honda Cars India achieves key milestone in advancing Active Safety with 50,000 Honda SENSING ADAS enabled cars on Indian Roads”

DUESSELDORF, (Reuters) – Volkswagen will focus the sales strategy for its 20,000-euro ($21,580.00) electric car coming out in 2027 on Europe, its brand chief said on Wednesday, adding the carmaker needed until then to bring down battery costs to sell it at that price.

The car will be the first in Volkswagen’s line-up to feature software from its joint venture with U.S.-based EV maker Rivian which requires fewer electronic control units and significantly less wiring, reducing vehicle weight and simplifying manufacturing. Continue reading “Volkswagen’s entry-level electric car targeted at Europe, brand chief says”

Source : PTI | Public sector oil marketing firm HPCL on Wednesday launched a co-branded diesel exhaust fluid ‘Genuine DEF’ in collaboration with Tata Motors. The co-branded diesel exhaust fluid will be available across 23,000 fuel stations of the Hindustan Petroleum Corporation Limited (HPCL) pan-India as well as over 2,000 authorised outlets of Tata Motors.

The high quality Diesel Exhaust Fluid (DEF) solution will drive optimal vehicle performance, boost drivetrain efficiency, and extend the vehicle’s longevity.

Continue reading “HPCL, Tata Motors launch co-branded diesel exhaust fluid ‘Genuine DEF’”

Source : PTI | Electric premium motorcycle maker Ultraviolette plans to bring 10 new products, including scooters and long-range cruiser bikes, in the next three years as it looks to accelerate market presence, company CEO and Co-founder Narayan Subramaniam said on Wednesday.

The company, which unveiled its first electric scooter ‘Tesseract’ along with new lightweight electric motorcycle ‘Shockwave’ here, is also looking at bringing ‘multi-terrain bikes’ in future.

Continue reading “Ultraviolette plans to introduce 10 new electric two-wheelers in 3 years”

Source : PTI | Swedish luxury car maker Volvo is planning to launch its fullly electric small SUV EX30 in India this year as part its plans of launching one electric model in the country every year in line with its global ambition of achieving 90-100% sales from electrified cars by 2030, according to a senior company official. Besides, Volvo Car India is also looking at bringing the new XC60 SUV in India this year, its Managing Director Jyoti Malhotra told PTI.

“Our global ambition is that we want to sell electrified cars, 90-100% of our cars should be electrified, which means directionally, we are still going in the same direction that we want to move towards electrification,” he said. Continue reading “Volvo to launch electric SUV EX30 in India this year: Official”

Source : PTI | Shimla: The Himachal Pradesh government on Wednesday signed an agreement with Spray Engineering Devices Limited to set up a facility worth Rs 1,400 crore to produce API (active pharmaceutical ingredients), green hydrogen and ethanol. The integrated manufacturing facility, to come up in Solan district, would offer employment to 1,000 youth, according to an official statement.

A Memorandum of Commitment (MoC) was signed here in the presence of Chief Minister Thakur Sukhvinder Singh Sukhu between state government and Spray Engineering Devices Limited, Chandigarh to set up India’s first integrated manufacturing facility of API, green hydrogen and 2G ethanol BBN with a cost of Rs 1,400 crore, the statement said. Continue reading “Himachal govt inks pact for Rs 1,400 crore API, green hydrogen, ethanol facility”

Source : PTI | Italian superbike maker Ducati plans to introduce its motocross bikes in the Indian market next year as it looks to further strengthen its product range in the country, a top company executive said Wednesday. The company has multiple products lined up, including upgraded versions of the existing nameplates, for the Indian market.

In an interaction with PTI, Ducati India Managing Director Bipul Chandra said the company will introduce new variants of Scambler, Multistrada, among other models. Continue reading “Ducati to launch motocross bikes in India next year”

Source : PTI | Chennai: Global automotive major Stellantis N V has launched its Eurorepar Car Service (ERCS) in the city with its first multi-brand workshop, ‘Moto-R,’ marking its entry into India’s expanding automotive aftermarket, a top official said. With the inauguration of this workshop, the company aims to establish over 100 such service centres across the country within the next two years.

“The first multi-brand workshop, Moto-R, is now operational, bringing global-standard, high-quality, and affordable car servicing to Indian customers. Entering India is a significant step in Stellantis’ vision to enhance vehicle ownership experiences by making professional, expert-led servicing more accessible,” the company said in a statement on Wednesday. Continue reading “Stellantis launches Eurorepar Car Service in Chennai, aims to open 100 more”

(Reuters) – Tesla is going to build a new megafactory near Houston to operate a battery storage facility, Electrek reported on Wednesday, citing a tax abatement agreement with Waller County in Texas.

The electric vehicle company is going to build and manage its Megapack energy products in over a 1-million-square-foot building near Katy, Texas, according to the report. Continue reading “Tesla to build new megafactory in Texas, Electrek reports”

WASHINGTON, (Reuters) – President Donald Trump’s administration is considering granting relief from his 25% tariffs on Canadian and Mexican imports to products that comply with the trade pact he negotiated with the two U.S. neighbors during his first term, Commerce Secretary Howard Lutnick said on Tuesday.

Two sources familiar with discussions between the Trump administration and Canadian and Mexican officials said the talks are aimed at exemptions for companies that comply with the 2020 U.S.-Mexico-Canada Agreement’s rules of origin, largely – but not exclusively – aimed at automakers. Continue reading “Trump officials eye tariff relief for USMCA-compliant products, Lutnick says”

Summary

• Automakers look for a lifeline to avoid massive tax on vehicles
• Tariffs could add on average $3,000 to the cost of a vehicle
• Pickup drivers are twice as likely to say they are Republicans than Democrats

DETROIT, (Reuters) – U.S. President Donald Trump’s 25% tariffs on Canada and Mexico have sent the U.S. auto industry scrambling to plan for the massive tax on some of America’s best-selling vehicles, including full-sized pickup trucks, while pinning their hopes on a potential deal in Washington. Continue reading “Trump delays auto tariffs. Pickup trucks might explain why.”

Summary

• Exemption will benefit Detroit automakers
• Trump open to exemptions for other products
• Trump says Trudeau call ended in ‘somewhat’ friendly manner

WASHINGTON/OTTAWA, (Reuters) – U.S. President Donald Trump will exempt automakers from his punishing 25% tariffs on Canada and Mexico for one month as long as they comply with existing free trade rules, the White House said on Wednesday, a development that halted at least for now Wall Street’s steepest skid in nearly three months.

Trump is also open to hearing about other products that should be exempted from the tariffs, which took effect Tuesday, the White House said. Continue reading “Trump exempts some automakers from Canada, Mexico tariffs for one month”

Summary

• European firms poised for tariffs, plan supply chain adjustments
• Tariffs of 25% on Canada, Mexico affect Europe indirectly
• Trump threatens EU with similar tariffs on cars, other goods
• EU leaders urge talks, vow unity against potential US tariffs

LONDON, (Reuters) – European companies, from Swiss chocolatiers to German car parts makers, are preparing their “plan Bs” to adapt to U.S. trade tariffs that became a blunt reality on Tuesday, with a second barrage specifically targeting the region expected next month. Continue reading “Europe Inc take evasive action as Trump tariffs hit, braces for second wave”

(Reuters) – Italy’s Piaggio, the maker of the iconic Vespa scooter, reported what it said was its highest ever annual core profit margin of 16.9% on Tuesday, citing tight productivity management.

That was despite a 12% fall in its 2024 earnings before interest, taxes, depreciation and amortisation (EBITDA) in absolute terms to 286.7 million euros ($302.4 million). Continue reading “Vespa maker Piaggio posts record margin despite ‘anomalous’ economy”

Summary

• Musk’s support for AfD had little impact on election results
• Tesla’s European sales drop amid Musk’s political activism
• Musk’s posts amplify far-right figures and misinformation

LONDON, March 4 (Reuters) – For the past two months, tech billionaire Elon Musk has promoted Germany’s far-right party in at least two dozen posts on his X platform, interviewed its leader, and told his 219 million followers it was the country’s “only hope.” Continue reading “Musk rallies the far right in Europe. Tesla is paying the price.”

Summary

• Tariffs on Canadian, Mexican, Chinese goods come into force
• U.S. Commerce chief says Trump may work out partial solution
• Canada’s Trudeau tells Trump, ‘this is a very dumb thing to do’
• Rattled financial markets lose ground
• Target, Best Buy warn of price hikes from Trump’s tariffs

WASHINGTON, (Reuters) – U.S. President Donald Trump’s new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%, sparking trade wars that could slam economic growth and lift prices for Americans still smarting from years of high inflation. Continue reading “Trump triggers trade war, price hikes with tariffs on Canada, China and Mexico”

(Reuters) – Stellantis has told its U.S. dealers the 25% tariffs on products from Mexico and Canada will put the carmaker at a disadvantage against its Asian and European peers, an email sent to its retailers showed on Tuesday.

The Jeep parent is engaging with the Trump administration to mitigate the effects of the tariffs, it said in the email. Continue reading “Stellantis warns dealers of pain from tariffs, is in talks with Trump administration”

WASHINGTON, (Reuters) – A trade group representing nearly all major automakers warned on Tuesday that new 25% tariffs on imports from Canada and Mexico imposed by U.S. President Donald Trump will lead to drastic price hikes.

“All automakers will be impacted by these tariffs on Canada and Mexico,” said John Bozzella, who heads the Alliance for Automotive Innovation that represents all major automakers in the U.S. except Tesla. Members include General Motors, Ford, Toyota, Volkswagen, Hyundai and Stellantis. Continue reading “Automakers warn that Trump tariffs will hike vehicle prices as much as 25%”

Source : PTI | Coal and Mines Minister G Kishan Reddy said on Tuesday he was hopeful that India would be able to meet the demand for critical minerals like lithium from within the country in three-four years. Speaking to reporters on the sidelines of the celebrations of 175 years of the Geological Survey of India in Kolkata, he said the National Critical Mineral Mission is aimed at boosting mining of minerals like lithium.

“We need lithium for batteries of mobile phones, and for solar panels. In the next three-four years, we are hopeful that we can meet the demand for critical minerals like lithium from within the country and it will be of great help,” he said. Continue reading “Hopeful that India will be able to meet demand for lithium internally in 3-4 years: Reddy”

Source : PTI | Ola Electric Mobility on Tuesday said its wholly-owned subsidiary has received a letter from IFCI for missing out on targets specified under the Production Linked IncentiveAdvanced Chemistry Cell scheme (PLI ACC). As per the government sources, the company did not meet production and investment-related criteria specified under in PLI ACC scheme.

“We would like to inform you that we are in receipt of a letter from IFCI Ltd for non-achievement of Milestone -1 as per schedule M of the Programme Agreement dated July 28, 2022,” Ola Electric said in a regulatory filing. Continue reading “Ola Electric receives letter from IFCI for missing out on PLI milestones”