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”

Summary

• Move comes after US-China trade war deescalation
• Situation could still change due to US unpredictability – source
• Tesla aims to start trial production of the two models in Oct

SHANGHAI, (Reuters) – Tesla plans to start shipping components from China to the U.S. for the production of Cybercab and Semi trucks from the end of this month, after the U.S. and China reached a truce over tariffs, said a person with direct knowledge. Continue reading “Exclusive: Tesla to resume shipping Chinese parts for Cybercab, Semi production in the US, source says”

Summary

• Nissan’s global sales have fallen 42% since fiscal 2017
• Analysts say company’s new model launches will take time
• Nissan faces challenges from U.S. tariffs and competition

TOKYO, (Reuters) – Nissan’s new chief executive Ivan Espinosa faces an uphill task turning around the troubled Japanese automaker with no guarantee it can reverse sliding top-line sales, analysts said, even as he moves to slash costs. Continue reading “Nissan is rolling out big cuts. Turning around sales will prove harder”

Summary

• CFPB also ends requirements that Toyota pay tens of millions to car buyers
• Walmart had been accused of causing delivery drivers to pay “junk fees”
• Former official denounces ‘corporate pardons’

(Reuters) – The U.S. Consumer Financial Protection Bureau has canceled a 2023 settlement with the financing arm of Toyota over allegations the auto giant illegally steered thousands of consumers into costly and unwanted product bundles, according to documents published by the agency. Continue reading “US consumer finance watchdog scraps Toyota settlement, Walmart lawsuit”

WASHINGTON, (Reuters) – Vermont Governor Phil Scott paused the state’s electric vehicle sales requirements for passenger cars and medium and heavy-duty trucks on Tuesday, amid broader concerns about the feasibility of zero-emission vehicle rules pioneered by California.

Vermont is one of 11 states including New York, Maryland and Massachusetts that have adopted California’s zero-emission vehicle rules, which seek to end the sale of gasoline-only vehicles by 2035. California’s rules require 35% of light-duty vehicles in the 2026 model year to be zero-emission models. Continue reading “Vermont governor pauses electric vehicle requirements”

(Reuters) – Global sales of electric and plug-in hybrid vehicles rose 29% year-on-year in April, with stable growth in China and Europe despite trade tensions, while North America recorded the first fall since last September, data showed on Wednesday.

European EV sales of legacy auto groups that are seeking to sell less polluting models to meet EU CO2 emission targets, outperformed those of Tesla. Continue reading “Global EV sales rise in April despite trade disruptions, research finds”

Source : PTI | The India-UK free trade agreement augurs well to keep driving JLR’s performance in India as it would benefit future cars and enable customers to access global cars and global prices much faster, Tata Motors Group CFO PB Balaji said on Tuesday. On the other hand, further details and clarifications are needed to fully understand the impact on JLR after the US-UK trade deal that reduced US trade tariffs on auto exports from the UK to 10 per cent from 27.5 per cent within a quota of 1 lakh vehicles, Balaji said in an earnings call.

“As far as India-UK FTA is concerned, it is a great development and augurs well for JLR…At the same time, we also wait when the FTA actually comes into force, but we believe this is going to benefit the future cars that are going to come, which means customers will be able to access these global cars and global prices much faster because of this FTA,” he said. Continue reading “India-UK FTA augurs well for JLR, future cars expected to benefit: Tata Motors Group CFO”

Summary

• US new-vehicle prices rose 2.5% in April, Cox Automotive reports
• Tariffs on imports from Mexico and Canada impact automaker costs
• Consumer demand rises as buyers anticipate tariff-related price hikes

DETROIT, (Reuters) – U.S. new-vehicle prices surged in April, data released on Monday showed, a sign that the effects of President Donald Trump’s auto-tariff measures are rippling through the car market. Continue reading “US car prices higher in April after tariffs hit”

TOKYO, (Reuters) – Japan’s Honda Motor forecast a 59% profit decrease in the current financial year and said it would put on hold a plan to build an EV supply chain in Canada, amid the uncertainty stemming from U.S. President Donald Trump’s tariffs.

Japan’s second-biggest automaker expects operating income to total 500 billion yen ($3.38 billion) in the year to March 31, 2026, versus 1.21 trillion yen in the year that just ended. Continue reading “Honda sees full-year profit down 59% as US tariffs bite, postpones Canada EV plans”

(Reuters) – Volkswagen’s CFO expects the carmaker’s new product launches in China to start improving its performance in the battery-electric vehicle segment by the third quarter of 2026, he said in an interview with the Financial Times on Tuesday.

“By then, we will reengage in the market with great products, with a really good cost base,” Arno Antlitz said, speaking at the FT Future of the Car Summit in London. Continue reading “Volkswagen to ‘re-engage’ in China EV market by third quarter of 2026, CFO tells FT”

(Reuters) – India’s Tata Motors said on Tuesday it was reevaluating its annual profitability target for luxury car brand Jaguar Land Rover (JLR), joining automakers worldwide that have flagged forecast uncertainty due to U.S. tariff changes.

Imported cars have been a main focus of U.S. President Donald Trump’s global trade war. Trump last month imposed a 25% tariff on all foreign-made vehicles sold in the world’s second-largest car market. Continue reading “Tata Motors reassessing JLR’s forecast as US tariffs fan uncertainty”

(Reuters) – China has issued export permits to at least four rare earth magnet producers including suppliers to Volkswagen , the German carmaker and industry sources said, the first granted since Beijing restricted shipments last month and a sign that the critical materials will continue to flow.

Baotou Tianhe Magnetics, which makes the magnets used in electric and hybrid car motors, received a licence for Volkswagen in late April, three sources said. One of the sources added that the automaker had reached out to Beijing to help during the process. Continue reading “Exclusive: Beijing has issued first rare earth magnet export permits, Volkswagen suppliers on the list”

Summary

• Nissan to close 7 plants, reducing production sites to 10
• Espinosa highlights rising variable and fixed costs as major challenges
• Nissan anticipates 200 billion yen operating loss in first quarter, CFO says

YOKOHAMA, Japan, (Reuters) – Nissan Motor unveiled sweeping new cost cuts on Tuesday, saying it would eliminate 11,000 more jobs and close 7 plants, capping a tumultuous year that has left the Japanese automaker fighting to turn itself around. Continue reading “Nissan cut plants and workers as new CEO Espinosa takes axe to costs”

Summary

• NHTSA probing crashes of Teslas in full self-driving mode
• Robotaxi sensors and reduced visibility cited as concerns
• NHTSA cites four crashes; in one a pedestrian was killed

WASHINGTON, (Reuters) – U.S. auto safety investigators asked Tesla to answer questions on its plans to launch a paid robotaxi service in Austin, Texas, in June, in order to assess how the electric vehicle maker’s cars with full self-driving technology will perform in poor weather. Continue reading “US agency asks Tesla to answer questions on Texas robotaxi plan”

WASHINGTON, (Reuters) – Republicans in the U.S. House of Representatives on Monday proposed killing the electric vehicle tax credit and repealing fuel efficiency rules designed to prod automakers into building more zero-emission vehicles as part of a broad-based tax reform bill.

The proposal, which is set for a House Ways and Means Committee hearing on Tuesday, would repeal a $7,500 new-vehicle tax credit and a $4,000 used-vehicle credit on Dec. 31, although it would maintain the new-vehicle credit for an additional year for automakers that have not yet sold 200,000 EVs. Continue reading “US House Republicans seek to kill EV tax credit, loan program”

RIO DE JANEIRO, (Reuters) – Chinese electric car maker BYD’s new factory in Brazil will be “fully functional” by December 2026, after its operations were delayed because of an investigation into labor abuses, Bahia state labor secretary Augusto Vasconcelos said in a video on Monday.

By the end of this year, the factory should start producing cars from semi-finished kits, he added.

“A new schedule is being established so that by December 2026 the factory will be fully functional with the expectation of generating 10,000 jobs,” said Vasconcelos in the video published to social media. Continue reading “BYD factory delayed in Brazil to be ‘fully functional’ by end-2026, says official”

Summary

• US new-vehicle prices rose 2.5% in April, Cox Automotive reports
• Tariffs on imports from Mexico and Canada impact automaker costs
• Consumer demand rises as buyers anticipate tariff-related price hikes

DETROIT, (Reuters) – U.S. new-vehicle prices surged in April, data released on Monday showed, a sign that the effects of President Donald Trump’s auto-tariff measures are rippling through the car market. Continue reading “US car prices higher in April after tariffs hit”

Source : PTI | New Delhi, Anil-Agarwal-led Vedanta has said it is exploring critical mineral assets in states like Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka and Chhattisgarh. Critical minerals are essential for many rapidly growing energy-efficient technologies ranging from wind turbines and electricity networks to electric vehicles. Demand for these materials is growing quickly as energy transitions gather pace.

In a statement Vedanta said “the company is building its critical minerals footprint, exploring copper, nickel, cobalt, chromium, vanadium, tungsten and Platinum Grade Elements (PGEs) across states like Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka, and Chhattisgarh, supported by India’s policy push for mineral security”. Continue reading “Vedanta exploring critical mineral assets in Maharashtra, Rajasthan, other states”

Source : PTI | Japanese small car major Suzuki Motor Corporation on Monday said overall passenger vehicle wholesale in the Indian market is expected to grow around 1-2 per cent in 2025-26, with the company’s arm Maruti Suzuki looking to outpace industry growth. The company which has earmarked total capital expenditures of 380 billion yen for 2025-26 said “investments in India will account for approximately 50 per cent” of it with plans to increase production capacity of passenger vehicles.

On the outlook for FY2025-26 in India, Suzuki Motor Corporation (SMC) in an investor presentation said, “Although SUVs continue to be strong in the market, demand for compact cars continues to be sluggish, and the overall market for wholesale sales is expected to grow by (around) 1 to 2 per cent.” Continue reading “Expect India PV wholesale growth at 1-2% in FY26, Maruti to outpace industry growth: Suzuki”

Source : PTI | Kia India expects 20-25 per cent volume gain in the Carens portfolio this year with the introduction of a premium version of the popular multi-purpose vehicle, according to a senior company executive. The South Korean automaker unveiled the Carens Clavis globally on Thursday. The model, which comes with premium features and three-row seat configuration, is also expected to make its way to various global markets.

In an interaction with PTI, Kia India National Head Sales and Marketing Hardeep Singh Brar said the new model targets both the MPV and SUV seven-seater segments in the domestic market.

Continue reading “Kia unveils Carens Clavis; eyes 20-25% volume gain in Carens portfolio this year”

Source : PTI | Mahindra & Mahindra (M&M) has sought approval from the Competition Commission of India to acquire majority stake in commercial vehicle maker SML Isuzu. The company had earlier announced that it would acquire 58.96 per cent stake in SML Isuzu for Rs 555 crore.

“The proposed combination relates to acquisition of shareholding by the acquirer (M&M) in the target (SML Isuzu Ltd),” a notice filed with the Competition Commission of India (CCI) said on May 5. Continue reading “Mahindra seeks CCI nod to acquire majority stake in SML Isuzu”

(Reuters) – Engine Capital said on Friday it would end its activist campaign at Lyft and withdraw its board nominees after the ride-hailing platform raised its stock buyback program to the level proposed by the investor.

It is one of the rare instances of an activist campaign ending within weeks when proxy battles typically run for months. Continue reading “Activist investor Engine Capital ends campaign at Lyft, withdraws board nominees”

(Reuters) – Railroad operator CSX said on Friday it has signed a tentative agreement for a new five-year contract with the Brotherhood of Locomotive Engineers and Trainmen (BLET).

The agreement, which still needs to be ratified by the members of the union, covers approximately 3,400 locomotive engineers represented by BLET, the railroad said. Continue reading “CSX reaches tentative 5-year deal with BLET covering 3,400 workers”

SHENZHEN, China, (Reuters) – China’s car sales in April rose for a third month, up 14.8% from a year earlier, as government-subsidised auto trade-ins mitigated the impact of U.S. tariffs on consumer sentiment.

Passenger vehicle sales totalled 1.78 million units last month and for the first four months of 2025 were up 8.2% from the same period a year earlier at 6.97 million units, data from the China Passenger Car Association (CPCA) showed on Sunday. Continue reading “Chinese passenger car sales rise for a third month in April”