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MILAN, (Reuters) – Ferrari has been preparing for years for electrification, starting with Formula One powertrains, as it nears the launch of its first fully electric (EV) model in October, Chairman John Elkann said on Wednesday. Continue reading “Ferrari prepared for years for its first EV, chairman says”
DETROIT, (Reuters) – Volkswagen confirmed Wednesday that it is joining the growing group of automakers committing to keeping prices steady to ease car shoppers’ concerns around tariffs.
Automakers have provided stability, and even deep discounts, to consumers amid worries that tariffs will drive up prices on dealer lots. In a flurry of announcements earlier this month, U.S. and foreign-owned carmakers offered a variety of deals or price assurances, looking to capitalize on a surge of nervous shoppers hoping to clinch a deal. Continue reading “Volkswagen to keep vehicle prices steady through May”
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(Reuters) – Californians further soured on Tesla in the first quarter, pulling down the electric-vehicle maker’s registrations by 15% as backlash against Elon Musk’s company intensified in the state that has embraced EVs most across the United States. Continue reading “Tesla registrations slump 15% in EV-loving California”
(Reuters) – Ford Motor may raise prices on its new vehicles if U.S. President Donald Trump’s auto tariffs continue, according to a memo sent to dealers on Wednesday that was reviewed by Reuters.
The Dearborn, Michigan, automaker offered deep discounts across its lineup starting earlier this month through June 2. The program will continue, but pricing on new models produced in May and beyond may change, the memo said. Continue reading “Ford Motor may hike prices if Trump’s auto tariffs persist, memo says”
Source : PTI | Ace cricketer Mahindra Singh Dhoni-backed aerospace startup Garuda Aerospace on Wednesday said it has raised Rs 100 crore in its series B funding round from Venture Catalysts. The fresh funds, raised at a valuation of USD 250 million, will significantly enhance the company’s capabilities in producing drone systems, Garuda Aerospace said.
The funds will also be allocated to scaling up the platform’s current production facility and fast-tracking the completion of an R&D and testing centre dedicated to advanced defense drone design, it said. Continue reading “Garuda Aerospace raises ₹100 crore in series B funding from Venture Catalysts”
Source : PTI | Diversified engineering firm Greaves Cotton Ltd on Monday announced the appointment of Parag Satpute as its new Managing Director and Group Chief Executive Officer. He succeeds Arup Basu, who resigned from the position of Managing Director of the company, and whose employment contract will come to an end on the close of business hours of May 9, 2025, the company said in a statement.
In his new role, Satpute will oversee the strategy and operations of Greaves Engineering, Greaves Retail, Greaves Technologies, and Excel Controlinkage Pvt Ltd, the company said. Continue reading “Greaves Cotton appoints Parag Satpute as managing director & Group CEO”
Source : PTI | European auto major Skoda Auto Volkswagen India on Monday said while it does not support the new reciprocal tariff imposed by the Trump Administration, which have now been paused for 90 days on non-retaliating countries, the move may open up opportunities for the industries in the long term. Earlier, the group, which is battling a ₹11,000-crore tax show cause notice for alleged customs duty fraud related to the import of cars as completely knocked down units, rolled out the all-new Volkswagen Tiguan R Line at an introductory price of ₹49 lakh.
“Of course, we do not support the (reciprocal) tariffs but at the same time there are a lot of discussions about opening up the economy even in India through bilateral trade or free trade agreements,” Piyush Arora, Managing Director at Skoda Auto Volkswagen India told PTI here at the launch event.
Source : PTI | Mobility firm Atul Auto’s subsidiary Atul Greentech has joined hands with battery maker Amara Raja for development and supply of electric vehicle batteries and chargers, a statement said on Tuesday. The collaboration aims to develop and supply LFP (Lithium Iron Phosphate) battery packs and chargers for electric vehicles (EVs), it said.
The partnership also extends to development of cells, including advanced chemistry cells for Atul Greentech’s upcoming offerings in line with India’s vision of “Atma Nirbhar Bharat”, the statement said. Continue reading “Atul Greentech ties up with Amara Raja for EV batteries, chargers”
Source : PTI | The Delhi government on Tuesday approved an extension of its Electric Vehicle (EV) Policy by three months and continuation of power subsidy in the national capital, officials said. Till the time the new EV Policy 2.0 is implemented, the existing policy will remain in force, they said.
A Cabinet meeting chaired by Chief Minister Rekha Gupta also approved the continuation of the existing power subsidy for four categories — domestic consumers, farmers, lawyers with chambers, and victims of the 1984 anti-Sikh riots. Continue reading “Delhi govt approves 3 month extension of EV policy, continues power subsidy”
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PARIS/MILAN, (Reuters) – French-Italian carmaker Stellantis has reduced its shortlist of CEO candidates to five, said two people familiar with the matter, as it nears a decision on who will lead the company through one of the industry’s most tumultuous periods. Continue reading “Stellantis closing in on new CEO with shortlist of five candidates, sources say”
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(Reuters) – Lucid is on track to launch its midsize electric SUV in 2026, company executives said on Tuesday, as the EV maker looks to tap an increasingly competitive segment dominated by rival Tesla’s bestselling Model Y crossover. Continue reading “Lucid says it is on track to enter midsize electric SUV market next year”
OTTAWA, (Reuters) – Canada will allow some relief to domestically-based automakers and manufacturers in specific sectors from counter-tariffs provided they meet certain conditions, the Finance Ministry said on Tuesday.
Canada has slapped a range of counter-tariffs on the U.S. in response to President Donald Trump’s tariffs on steel, aluminum, cars and auto parts. Some industry groups and companies have said the counter-measures could be detrimental. Continue reading “Canada to spare automakers, other sectors from some tariffs on US imports”
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SAO PAULO, (Reuters) – When Brazil hiked trade barriers in its auto market over a decade ago, the government promised more local manufacturing, reliable jobs and better cars. Continue reading “Brazil auto market offers warning for US tariff policy”
HONG KONG, (Reuters) – Chinese electric vehicle maker Xpeng said on Wednesday that it had done a “thorough analysis” of its supply chain to ensure it would not be impacted by the current turmoil caused by U.S. President Donald Trump’s tariffs and tensions with China.
Xpeng’s President Brian Gu told reporters in Hong Kong that their current sales were not impacted, but that the company was closely monitoring the situation as it was difficult to escape economic volatility. Continue reading “China’s Xpeng says it reviewed supply chain to insulate it from tariff turmoil”
TOKYO, (Reuters) – Honda Motor will shift production of its U.S.-bound five-door Civic hybrid model from Japan to Indiana, a company spokesperson said on Wednesday.
Production of the model in the Yorii factory, near Tokyo, is likely to end in June or July, the spokesperson said. Continue reading “Honda to shift production of US-bound 5-door Civic hybrid to Indiana from Japan”
SHANGHAI, (Reuters) – Tesla plans to ship components from China for Cybercab and Semi electric trucks in the United States were suspended after President Donald Trump raised tariffs on Chinese goods amid a trade war, said a person with direct knowledge.
The move could disrupt Tesla’s plan to start mass production of the much-anticipated models, which its CEO Elon Musk has been touting to investors as major innovations providing growth momentum of the U.S. automaker. Continue reading “Exclusive: Trump’s tariffs on Chinese parts for Cybercab, Semi disrupt Tesla’s US production plans, source says”
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WASHINGTON, (Reuters) – U.S. President Donald Trump on Sunday said he would be announcing the tariff rate on imported semiconductors over the next week, adding that there would be flexibility with some companies in the sector. Continue reading “Tariffs on imported semiconductor chips coming soon, Trump says”
Source : PTI | Italian super luxury automaker Automobili Lamborghini on Monday said it has appointed Nidhi Kaistha as Head of Lamborghini India. In her new role, Kaistha will oversee sales, marketing and after-sales operations in India, the sixth-largest market in the Asia Pacific region, the automaker said in a statement.
With over 25 years of experience across hospitality, aviation, and automotive industries, she brings extensive expertise and leadership to her new position, it stated. Continue reading “Nidhi Kaistha appointed as Head of Lamborghini India”
Source : PTI | New Delhi: Electric vehicle maker Jitendra EV plans to invest up to ₹125 crore in the next five years on research & development (R&D), product development and enhancing manufacturing capacity, its Co-Founder Samkit Shah said. The company, which had showcased its Hydrix — a hybrid vehicle targetted for launch in 2028 — is also looking to double its sales in the ongoing fiscal year, up from a total of 4,200 units sold in 2024-25, Shah told PTI.
“In the next five years we are planning to invest around ₹80 crore to ₹100 crore on R&D and product development and another ₹25 crore on manufacturing,” he said. Continue reading “Jitendra EV plans to invest up to ₹125 cr in 5 years”
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Continue reading “Volkswagen India Introduces the All-new Tiguan R-line – Beyond betteR”
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BEIJING/WASHINGTON, (Reuters) – China has put civilian government officials in Beijing on “wartime footing” and ordered a diplomatic charm offensive aimed at encouraging other countries to push back against U.S. President Donald Trump’s tariffs, according to four people familiar with the matter.
Communist Party propaganda officials have played a leading role in framing China’s response, one of the people said, with government spokespeople posting defiant clips on social media featuring former leader Mao Zedong saying “we will never yield.” Continue reading “How China went from courting Trump to ‘never yield’ tariff defiance”
Source : PTI | The Centre is planning to invest ₹10 lakh crore over the next two years to strengthen highways across the country, with special focus on the Northeast, where roads will rival those in the US, Road Transport and Highways Minister Nitin Gadkari said. In an interview to PTI, he said the Centre is working to transform the country’s infrastructure drastically in the next two years so that it matches the best in the world.
“We plan to take up projects worth ₹10 lakh crore in the next two years to strengthen highways across the country, with special emphasis on enhancing infrastructure in the Northeast and the border areas. In the coming two years, highways in the Northeast will be on a par with US roads,” Gadkari said.
Source : PTI | Smart EV charger startup Plugzmart has received ARAI certification for its electric vehicle charger for heavy vehicles, featuring its own indigenously developed controller and Power Line Communication (PLC) modules, a top official said. The IIT-Madras-incubated startup has become the first Indian company to receive EV charger certification for its controller and PLC modules, rather than relying on imported components. This development could significantly contribute to reducing India’s import dependency in the EV sector, a press release stated.
The Automotive Research Association of India (ARAI) is the country’s leading automotive R&D organisation, established by the automotive industry in collaboration with the Government of India. Continue reading “Plugzmart becomes first Indian startup to get ARAI nod for indigenous EV charger tech”
Source : PTI | Delhi’s electric vehicle (EV) policy 2.0 may generate up to 20,000 jobs and will also set up battery collection centres while establishing a city-wide network of charging and swappable battery stations. Speaking to PTI about the newly proposed policy, Delhi Environment Minister Manjinder Singh Sirsa on Saturday said the purpose of this policy is to encourage the adoption of electric vehicles to reduce pollution.
The focus will be on mass categories such as two-wheelers, buses, three-wheelers and goods carriers with the aim of transitioning them to electric vehicles. Continue reading “Delhi’s EV policy may create 20,000 jobs; focus on battery swapping and charging network”
Honda Motorcycle & Scooter India (HMSI) is recalling certain units of CB300R motorcycle to rectify an issue with headlight. Aligned with the global market action, the company has announced a voluntary recall for CB300R motorcycle, manufactured between 2018 to 2020, the two-wheeler major said in a statement.
The company has identified a concern in the internal PCB structure of the motorcycle’s headlight, it added. Continue reading “HMSI recalls CB300R motorcycles to rectify headlight issue”
Source : PTI | JSW MG Motor India on Friday said it expects up to 65 per cent of its total sales to come from electric vehicles by the end of this year. The company, whose all-electric crossover utility vehicle Windsor has crossed 20,000 units cumulative sales milestone in six months, had 50 per cent of its sales from EVs in 2024.
It had sold a total of 60,000 vehicles in 2024. At present, JSW MG Motor India sells three EV models — ZS, Comet and Windsor — and three internal combustion engine (ICE) vehicles — Hector, Astor and Gloster. Continue reading “JSW MG Motor India expects 65% of total sales to be EVs by 2025 end”
Source : PTI | The Delhi government is likely to provide a subsidy of up to ₹36,000 on purchase of an electric two-wheeler to women under its proposed Electric Vehicle (EV) Policy 2.0, officials on Friday said. The benefit can be availed by the first 10,000 women, who are holding a driving license, according to the policy draft accessed by PTI.
The proposal is under the government’s consideration and it will be approved soon. Continue reading “Delhi govt likely to offer up to ₹36,000 subsidy to women under EV Policy 2.0”
MILAN, (Reuters) – Carmaker Stellantis remains committed to its ailing luxury brand Maserati even as U.S. tariffs complicate the situation for the automotive industry in general, the brand’s head said on Friday.
A spokesman for Stellantis said earlier this week the group had hired consultant McKinsey to advise on the effects of the recently announced tariffs for Maserati and Alfa Romeo as the two brands prepare future plans. Continue reading “Maserati CEO says Stellantis remains committed to brand”
STOCKHOLM (Reuters) – Sweden’s Volvo Cars, which is controlled by Chinese auto maker Geely (GEELY.UL), will need up to two years to expand its U.S. car production in order to avoid hefty import tariffs, CEO Hakan Samuelsson told daily Dagens Nyheter (DN) on Friday.
Volvo Cars is one of the most exposed automakers to U.S. President Donald Trump’s auto tariffs as it imports most of its hybrid and electric models from Europe. Continue reading “Volvo Cars may take up to two years to expand US production to avoid tariffs, CEO tells daily DN”
PARIS, (Reuters) – Sales are brisk at the Villiers-Sur-Marne Harley-Davidson dealership outside Paris, where French bikers reckon they had better hurry if they want the American motorcycle of their dreams before trade war puts them out of reach.
“It’s now or never,” said 55-year-old carpenter Stephane Roger as he inspected the gleaming machines. He had been thinking about buying a Harley anyway, he said. But when he heard the news of U.S. President Donald Trump’s “Liberation Day” tariffs, he figured he had better hurry. Continue reading “French bikers race to buy Harleys before possible tariffs”
SAN FRANCISCO, (Reuters) – A dozen former OpenAI employees filed a legal brief on Friday backing co-founder Elon Musk’s lawsuit aimed at keeping the non-profit status of OpenAI, marking the latest development in the dispute over the future of the artificial intelligence firm.
Corporate leaders want to give investors control, drawing a host of concerns and a lawsuit from Musk and others who say business interests must be subordinated to humanitarian goals. Continue reading “Group of ex-OpenAI employees back Musk’s lawsuit to halt OpenAI restructure”
STOCKHOLM, (Reuters) – Volkswagen’s truckmaker Scania said on Friday it had agreed to buy bankrupt Northvolt’s division that makes battery packs for heavy industry, reviving a transaction first presented in February, for an undisclosed price.
Sweden’s Northvolt filed for bankruptcy last month in one of the country’s largest corporate failures, bringing to an end Europe’s best hope of developing a rival to Asian electric vehicle battery makers. Continue reading “Volkswagen’s Scania buys bankrupt Northvolt’s heavy industry battery packs unit”
DETROIT, (Reuters) – GM is temporarily halting production of its electric commercial van at its assembly plant in Ontario due to slow sales, the company and the union representing workers there said.
The Detroit automaker is temporarily laying off 1,200 workers at the plant as a result, according to Unifor, the union representing the workers. The shutdown is not related to recently imposed auto tariffs, the company said. Continue reading “GM to halt EV van production in Ontario to adjust for market demand”
(Reuters) – A Harley-Davidson director has resigned after expressing “grave concerns” about the current state of the company in a letter to the motorcycle maker’s board.
Shares of the company tumbled about 11% in morning trading on Thursday. Continue reading “Harley-Davidson board member resigns, cites ‘grave concerns’ about company”
BRASILIA (Reuters) – Brazil will pursue trade negotiations with the U.S. while reaffirming its support for multilateralism and seeking to expand its network of trade agreements, Foreign Trade Secretary Tatiana Prazeres said on Thursday.
“Our approach (with the U.S.) is to negotiate, negotiate, and negotiate – that’s what we’ve been doing,” Prazeres said at an event organized by the Brazil-China Business Council (CEBC). Continue reading “Fishing boats tied up in Bay de Verde, Newfoundland, Canada”
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OTTAWA, (Reuters) – A little-known insurance product is gaining traction in Canada as exporters seek to guard against losses and bankruptcies of their suppliers and customers due to U.S. President Donald Trump’s tariffs, insurers said. Continue reading “Canadian exporters inquire on trade insurance as Trump’s tariffs heighten risk”
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BERLIN, (Reuters) – The European Union and China have agreed to look into setting minimum prices of Chinese-made electric vehicles instead of tariffs imposed by the EU last year, a European Commission spokesperson said on Thursday. Continue reading “EU, China will look into setting minimum prices on electric vehicles, EU says”
Today, India mourns the loss of Madhur Bajaj, a distinguished industrialist and former Vice Chairman of Bajaj Auto, who passed away in Mumbai at the age of 73. Born on August 19, 1952, he was the grandson of Jamnalal Bajaj, the founder of the Bajaj Group, and cousin to the late Rahul Bajaj.
Madhur Bajaj’s career was marked by significant contributions to the Bajaj Group and the broader Indian industry. He held key positions across various group companies, including Bajaj Auto, Bajaj Electricals, Bajaj Finance, and Maharashtra Scooters. His leadership extended beyond the corporate realm as he served as president of the Society of Indian Automobile Manufacturers (SIAM) and the Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA). Continue reading “India Mourns the Loss of Shri Madhur Bajaj, former Vice Chairman, Bajaj Auto”
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(Reuters) – Electric vehicle maker Polestar’s first-quarter sales jumped 76% on Thursday as discounts and offers helped offset stiff competition and an uncertain economic outlook.
It sold around 12,304 vehicles in the quarter, compared with 6,975 vehicles a year ago, when the Swedish company was navigating a rough patch caused by poor demand. Continue reading “EV maker Polestar’s quarterly sales jump on offers, discounts”
