Source : PTI | French auto major Renault group has sought approval from fair trade regulator CCI to buy out its Japanese partner Nissan’s remaining 51 per cent stake in their Indian manufacturing joint venture — Renault Nissan Automotive India Pvt Ltd. Renault Group B V and its nominee Renault SAS have proposed to acquire the entire shareholding of the Nissan entities in Renault Nissan Automotive India Pvt Ltd (RNAIPL).

“The proposed combination relates to the acquisition of equity shares and fully paid-up zero-coupon non-convertible redeemable preference shares held by Nissan Motor Company Ltd Japan and Nissan Overseas Investments B V in the target (RNAIPL) by acquirer 1 (Renault Group B V) and its nominee, acquirer 2 (Renault SAS),” a notice filed with the Competition Commission of India (CCI) said on May 16.

Continue reading “Renault Group seeks CCI nod to buy out remaining 51% stake in Indian JV”

Source : PTI | Bullish on growth prospects, Jaguar Land Rover aims to double its business in India over the next 3-4 years amid plans to bolster its product portfolio and sales network, according to a top company executive. With the Indian luxury car market expected to grow consistently over the next few years, Jaguar Land Rover (JLR) India anticipates breaking into the top ten markets of its parent.

In an interaction with PTI here, JLR India Managing Director Rajan Amba stated that demand and appreciation for bespoke or differentiated car models remain very high in India promoting it to offer such products in the country.

Continue reading “JLR aims to double biz in India over next 3-4 years”

Source : PTI | Automotive components maker Belrise Industries on Tuesday said it has garnered ₹645 crore from anchor investors a day ahead of its initial share-sale opening for public subscription. BlackRock, Capital Group, ICICI Prudential Mutual Fund (MF), HDFC MF, Nippon India MF, M&G (Prudential), Pinebridge, ValueQuest, and Bajaj Allianz Life are among the investors who participated in the anchor round, according to a circular uploaded on BSE website.

As per the circular, the company allocated 7.16 crore equity shares at ₹90 apiece, which is also the upper end of the price band, to 27 funds. Continue reading “Belrise Industries mobilises ₹645 crore from anchor investors ahead of IPO”

PARIS, (Reuters) – Mitsubishi Motors said on Monday it had decided not to proceed with an investment in Renault’s electric vehicle business Ampere, in a shift in the company’s EV strategy.

Mitsubishi had previously announced an investment of up to 200 million euros ($225.08 million) in Ampere. Continue reading “Mitsubishi Motors decides not to pursue investment in Renault’s Ampere”

MEXICO CITY, (Reuters) – Mexican Economy Minister Marcelo Ebrard said on Tuesday that cars assembled in Mexico and exported to the United States will face an average tariff of 15%, not 25%, citing additional discounts that local products benefit from.

“It’s a very big advantage compared to other countries that export to the United States. Of course, we would love it to be zero,” Ebrard said at an event. Continue reading “Mexico’s US auto exports to benefit from tariff discounts, minister says”

SEOUL, (Reuters) – South Korea’s government pledged on Wednesday more support measures for key export industries, including the biopharmaceutical and auto sectors, which are expected to be hit by U.S. President Donald Trump’s sweeping tariffs.

The government will prepare new measures to support its biopharmaceutical companies, as soon as details of Trump’s tariffs on the sector become available, it said in a statement. Continue reading “South Korea vows support for biopharmaceutical, auto sectors over US tariffs”

Summary

• Tesla in talks to license FSD software to major automakers, Musk says
• Robotaxi deployment would scale up to about a thousand within a few months, Musk says
• xAI ramps up data center capacity with Nvidia chips in Memphis
• Tesla, xAI merger not out of question but would need shareholder ok, Musk says

(Reuters) – Tesla is set to begin a test of its long-promised robotaxi service on schedule in Austin, Texas, by the end of June, Chief Executive Elon Musk said on Tuesday, even as the company faces safety questions from a U.S. regulator. Continue reading “Tesla on track to launch robotaxi trial in Austin, Texas, by June end, Musk says”

Summary

• Senate vote challenges California’s EV mandate
• California’s EV rules adopted by 11 states, affecting 40% of U.S. auto market
• Democrats argue Senate vote violates rules, GAO says waivers can’t be repealed
• Automakers warn of reduced vehicle sales due to EV mandate
• Transportation Department to challenge Biden’s fuel economy rules

WASHINGTON, (Reuters) – The U.S. Senate plans to vote this week to bar California’s landmark plan to end the sale of gasoline-only vehicles by 2035 that has been adopted by 11 other states, Majority Leader John Thune said on Tuesday. Continue reading “US Senate to vote this week on bill to bar California 2035 EV plan”

Source : PTI | Maruti Suzuki India Ltd on Tuesday said it has entered into an alliance with Standard Chartered Bank for inventory funding for its dealers. The company has signed a Memorandum of Understanding (MoU) with Standard Chartered for inventory funding which will empower over 4,000 Maruti Suzuki sales outlets across the country, with comprehensive inventory funding options for their working capital requirements, Maruti Suzuki India said in a statement.

“This partnership takes us a step towards further empowering our dealer partners, while the company continues to expand its market presence, as always. This strategic alliance will leverage the combined strengths of MSIL and Standard Chartered to offer comprehensive working capital solutions to our dealer partners,” Maruti Suzuki India Ltd (MSIL) Senior Executive Officer, Marketing & Sales, Partho Banerjee said. Continue reading “Maruti Suzuki partners Standard Chartered Bank for dealer financing solutions”

Source : PTI | The Ministry of Road Transport and Highways (MoRTH) has issued directives to expand oversight of regional officers on National Highway works implemented by state public works departments and road construction departments. In a circular, the highways ministry said critical lapses have occurred due to lack of due diligence in several projects pertaining to NH works implemented by state public works departments and road construction departments (PWDs/RCDs).

According to the circular, the ministry’s regional officers (ROs) are sometimes neither consulted nor involved during the bidding process or while defending contractual disputes before arbitration tribunals or courts, wherein such disputes are dealt with mechanically often without adequately safeguarding the interests of the Central government or aligning with the ministry’s position. Continue reading “MoRTH mandates tighter oversight on state-implemented NH projects”

Summary

• Volkswagen considers sale amid Europe market challenges
• Conducting due diligence for potential sale
• Italdesign made 332 million euro revenues in 2024

MILAN, (Reuters) – Volkswagen is considering a plan to divest from its design and engineering unit Italdesign, union representatives told Reuters on Monday, as part of the German automaker’s efforts to overhaul its European operations. Continue reading “Volkswagen weighs plan to sell or find partner for Italdesign”

SAN FRANCISCO, (Reuters) – Alphabet’s self-driving unit Waymo said on Monday it received approval from California to expand its robotaxi operations in more areas of the San Francisco Peninsula and further south, including San Jose.

Waymo’s permission from California comes as Tesla gears up to roll out a paid robotaxi service in Austin, Texas, next month. CEO Elon Musk has said the electric vehicle maker will expand the service to California later this year. Continue reading “Alphabet’s Waymo gets California nod for robotaxi expansion in San Francisco Bay Area”

DETROIT, (Reuters) – General Motors informed employees and dealers for its China export business on Thursday in China that it would stop shipping vehicles to China from the United States, the company said.

The move comes as the United States and China continue discussions on tariffs and other trade issues. Continue reading “GM to stop exporting vehicles from US to China, company says”

DETROIT, (Reuters) – Subaru of America is hiking prices on several models, the company said on Monday, the latest automaker to pass along cost increases to consumers as their expenses rise from the Trump administration’s tariffs.

Subaru said in a statement that the increases were made in response to “current market conditions,” without citing tariffs or specific price actions. Continue reading “Exclusive: Subaru of America increases vehicle prices, citing market conditions”

Source : PTI | India continues to be the world’s largest market for electric three-wheelers for a second year in a row as sales rose nearly 20 per cent to reach about 7 lakh vehicles in 2024, the International Energy Agency (IEA) said in a report. In its Global EV Outlook 2025, the Paris-based energy watchdog said India continues to drive most growth in the global electric three-wheeler market.

Despite the global three-wheeler (3W) market shrinking 5 per cent from the previous year, electric 3W sales grew more than 10 per cent to surpass 1 million vehicles in 2024. Electric 3W sales represented almost one-quarter of all 3W sales, up from one-fifth in 2023, it said. Continue reading “India largest market for electric three-wheelers: IEA”

(Reuters) – Tesla blocked shareholders who own less than 3% of its shares from suing its directors or officers on behalf of the electric vehicle maker for breach of duties, according to a filing with the U.S. Securities and Exchange Commission on Friday.

Three percent of Tesla’s shares amounts to about 97 million shares worth about $34 billion as of Friday’s close. Continue reading “Tesla blocks stockholders with less than 3% shares from suing officers on its behalf”

TOKYO, (Reuters) – Japan is considering a plan to offer subsidies for building charging stations for Tesla electric vehicles in tariff talks with the United States, broadcaster TBS reported on Saturday.

The government currently provides subsidies for installing charging stations for EVs only for the charging standard “CHAdeMO”, which originated in Japan, but not for Tesla’s “Supercharger”, the report said. Continue reading “Japan mulls subsidies for Tesla’s EV charging stations in tariff talks, TBS says”

BEIJING, (Reuters) – Half of China’s sales of heavy trucks could be electric vehicles by 2028, up from 10% in 2024, the chairman of battery maker CATL said on Sunday, according to a media report.

The comments by Zeng Yuqun, made at a heavy-truck battery-swapping launch and reported by the Shanghai government-affiliated news site Jiemian, suggest further headwinds for fuel demand in the trucking sector, already hit by the rise of LNG trucks in China. Continue reading “Half of China’s heavy truck sales could be EVs by 2028, CATL says”

Summary

• Potential closures of two plants in Japan, two sources say
• Plant closures in Mexico, India, Argentina, South Africa under consideration, one source says
• Nissan plans workforce reduction, plant consolidation amid restructuring

TOKYO, (Reuters) – Nissan is considering plans to shut two car assembly plants in Japan and overseas factories, including in Mexico, sources said on Saturday, as part of a cost-cutting plan the company flagged earlier this week. Continue reading “Nissan considering plant closures in Japan, overseas, sources say”

Source : PTI | The Centre has approved national highway projects worth ₹13,000 crore in Odisha during the ongoing 2025-26 fiscal, a state minister said on Thursday. Out of those projects, the Odisha government has set a target to complete road construction work to the tune of ₹2,000 crore by September, Works Minister Prithviraj Harichandan said here.

‘We have to expedite the pace of construction work. We have set a target to make an expenditure of ₹2,000 crore by September. If we complete the projects on time, we can get (a total of) ₹13,000 crore (worth highway projects) from the Union government and create a new record on construction of national highways in the state,’ he asserted.

Continue reading “Centre approves national highway projects worth ₹13,000 cr in Odisha in FY26”

Source : PTI | Hyundai Motor India Ltd is stepping up activities, including new product launches, efforts to enhance sales in rural, institutional and pre-owned car segments to regain its number two position in the domestic market, its Chief Operating Officer Tarun Garg said on Friday. The company, a long-time number two player behind leader Maruti Suzuki in the domestic passenger vehicle market, had been pushed to the fourth position in April this year in terms of market share behind home-grown automakers Mahindra & Mahindra and Tata Motors. Continue reading “Stepping up activities to regain market share, passionate about domestic dominance: Hyundai Motor India COO”

Source : PTI | Tata Motors aims to strengthen its electric vehicle range, as well as enhance the value proposition of existing nameplates, as part of its plans to make EVs mainstream in the domestic passenger vehicle market. The Mumbai-based auto major is gearing up to launch Harrier.ev this fiscal and Sierra.ev subsequently, besides multiple interventions on existing models.

Tata Motors sold about 65,000 EVs in FY25, a drop of 10 per cent as compared with FY24. Continue reading “Tata Motors plans more product actions this fiscal for ‘mainstreaming’ EVs”

BUDAPEST, (Reuters) – Chinese electric vehicle giant BYD expects to establish a European centre in Hungary, CEO and President Wang Chuanfu said on Thursday at a news conference with Hungarian Prime Minister Viktor Orban in Budapest.

Wang said that the new European centre will create 2,000 jobs and have three functions. It will be a hub for sales and after-sales services, for testing and for developing localised versions of the company’s models. Continue reading “China’s BYD plans to establish European centre in Hungary, CEO says”

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ROME, (Reuters) – Stellantis Chairman John Elkann on Thursday denied there was any truth to rumours that the company is in merger talks with fellow European automaker Renault.

“We are not discussing any merger,” Elkann said at the FT Future of the Car Summit in London, speaking in a panel discussion with Renault CEO Luca de Meo.

The two companies in October already dismissed as rumour and speculation media reports that they may join forces.

Stellantis was created in 2021 from the merger of Fiat-Chrysler with France’s PSA, the maker of Peugeot and Citroen. The Franco-Italian company includes the Jeep and Opel brands.

Reporting by Alvise Armellini, editing by Gavin Jones

WASHINGTON, (Reuters) – U.S. manufacturing production fell more than expected in April amid a sharp decline in motor vehicle output, and the sector could struggle to regain its footing in the second quarter because of tariffs.

Factory output dropped 0.4% last month after an upwardly revised 0.4% gain in March, the Federal Reserve said on Thursday. Economists polled by Reuters had forecast production would slip 0.2% after a previously reported 0.3% rise. Continue reading “US manufacturing output falls in April on weak auto production”

Summary

• Tariff truce brings mixed feelings for manufacturers in China
• Producers of Halloween decorations scramble to meet deadlines
• Tariffs were imposed at ‘utmost worst time’

YIWU, China, (Reuters) – A tariff truce between the United States and China is helping kickstart the resumption of trade between the countries but for manufacturers of Halloween decorations in the eastern Chinese city of Yiwu feelings are mixed. Continue reading “Tariff truce sparks hopes for Halloween orders in China”

Source : PTI | India’s oil demand is expected to grow at the fastest pace among major economies and double the rate of rise in China in 2025 and 2026, oil cartel OPEC said in its latest global outlook. India’s oil demand is projected to rise from 5.55 million barrels a day in 2024 to 5.74 million bpd in 2025, up 3.39 per cent, helped by rising energy needs in the world’s fastest growing economy.

This is projected to further rise to 5.99 million bpd in 2026, growing at 4.28 per cent. Continue reading “OPEC sees India’s oil demand rising 3.4% in 2025, double the pace of China”

MILANO, (Reuters) – Automaker Stellantis said on Thursday that the production of Maserati sports cars will be moved from Turin’s Mirafiori plant to Modena by the end of the year.

Modena is the hometown of Maserati, a historic Italian brand that has been struggling and whose business plan, including new model launches, is under review after being put on hold last year. Continue reading “Stellantis to return Maserati production to its Modena hometown”

Summary

• Q1 adj EBIT down 90% due to weak demand, prices
• Steel division swung to Q2 loss
• Warship division grew profits by 24%
• Shares down 9.8%

FRANKFURT/DUESSELDORF, (Reuters) – Thyssenkrupp’s <TKAG.DE> operating profit plunged in the second quarter, hurt by what the German conglomerate said was high economic uncertainty among most of its customers and regions due to higher tariffs, notably in automotive and steel. Continue reading “Thyssenkrupp’s profit plunges as tariff uncertainty hits demand”

Tata Motors has entered into a strategic partnership with Vertelo, a dedicated electric mobility solutions provider, to accelerate the adoption of electric commercial vehicles across the country. Through a Memorandum of Understanding (MoU) signed between the two companies, Vertelo will offer tailored leasing solutions to fleet operators, facilitating a smoother transition to green mobility.

Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors Commercial Vehicles, said, “This partnership with Vertelo marks a significant milestone in our mission to democratise electric mobility. By offering accessible and sustainable transportation solutions, we are not only supporting fleet customers but also strengthening the EV ecosystem in India.” Continue reading “Tata Motors Joins Vertelo To Boost Electric CV Adoption Via Custom Leasing Solutions”

Tata AutoComp Systems Ltd., a leading Indian automotive components manufacturer, and Katcon Global, a leader in exhaust systems, thermal insulation and advanced materials components, have announced a new joint venture in Mexico to manufacture advanced composites, with a focus on serving the North American market. The venture will specialize in lightweight applications for passenger and commercial vehicles, agricultural tractors, off-road vehicles, and specialized non-automotive segments.

This collaboration builds upon a 13-year successful partnership between Tata AutoComp and Katcon in India, particularly in the field of exhaust systems and emission after-treatment solutions. In this new venture, Tata AutoComp brings its technology leadership and customer relationships, while Katcon contributes operational excellence, regulatory expertise, and strong local execution capabilities. Continue reading “Tata Autocomp and Katcon Global form strategic joint venture in Mexico for composite materials”

(Reuters) – France’s Alstom is in talks about supplying high-speed double-decker trains for use through the Channel Tunnel, but no contract has been signed yet, the train maker said on Wednesday.

Contacted by Reuters, a company spokesperson confirmed the talks but did not name any of the operators involved, citing the confidential nature of the discussions, and said it would not disclose the potential size of any contract until officially signed. Continue reading “Alstom confirms talks over Channel Tunnel trains, says no deal signed yet”

SAN FRANCISCO, (Reuters) – Aeva Technologies a firm founded by former Apple engineers that makes sensors used in factories and self-driving vehicles, on Wednesday said it had sold a 6% stake for $50 million to an unnamed strategic partner that will also handle some of its manufacturing in the future.

Aeva’s lidar sensors help factory equipment and vehicles gain a three-dimensional view of their surroundings. Aeva’s version of the technology can also detect how fast objects are moving, which can help cars determine if an object in the distance is stationary or moving. Continue reading “Aeva sells 6% stake and inks manufacturing deal, shares rise”

COLOGNE, (Reuters) – Workers at Ford’s two car plants in the German city of Cologne went on strike on Wednesday, protesting thousands of planned job cuts across the U.S. automaker’s European operations.

The cuts at Ford reflect a broader shake-up in the car sector as companies like Volkswagen, Nissan and General Motors axe jobs in response to new competition from China, weak demand and the costly transition to electrification. Continue reading “Workers strike in protest against job cuts at Ford Germany”