Summary

• Deal sees job cuts and capacity reductions
• Unions hail deal that will keep factories open
• Latest round of talks has been ongoing since Monday
• VW seeks to cut costs as European market shrinks
• Chancellor, top shareholder welcome agreement

HANOVER, (Reuters) – Volkswagen on Friday announced sweeping changes to its German operations, including more than 35,000 future job cuts and sharp capacity reductions in a last-gasp deal between Europe’s top carmaker and unions to avert mass strikes. Continue reading “VW reaches union deal to cut 35,000 German jobs after gruelling talks”

BERLIN, (Reuters) – A reduction in managers’ bonuses at Volkswagen will lead to a 10% pay cut for the next two years, the Sueddeutsche Zeitung newspaper reported on Sunday, after the German carmaker struck a deal with unions to axe jobs and scale back production.

The reduction will apply to May bonus payments, leading to the 10% pay cut in 2025 and 2026 for 4,000 managers, the newspaper said. In the following three years, their pay will fall by 8%, 6% and 5%, it added. Continue reading “VW managers to get 10% pay cut in plan to slash bonuses, German newspaper reports”

(Reuters) – Unifor said on Sunday that its members at Canadian National Railway have ratified four-year collective agreement, averting a potential strike action.

Unifor, which represents more than 3,000 members at the railroad’s Council 4000 and Local 100 committees, said the agreement includes improvements to wages and benefits as well as job protections for members working in CN terminals and headquarters across Canada. Continue reading “Unifor members ratify new agreement with Canadian National Railway”

(Reuters) – Stellantis has reversed its decision to lay off about 1,100 employees at an Ohio Jeep plant less than three weeks after the abrupt resignation of Chief Executive Carlos Tavares, the Franco-Italian automaker said late on Saturday.

The company has decided not to put any employees on indefinite layoff from Jan. 5 due to a previously announced shift reduction and will instead extend a worker adjustment and retraining notification notice, a company spokesperson said in an emailed statement. Continue reading “Stellantis reverses Ohio layoffs weeks after CEO’s abrupt departure”

TOKYO, (Reuters) – Former Nissan chief executive Carlos Ghosn cast doubt on the success of a potential merger between Honda and Nissan, saying the latter’s plans “do not make sense” at a press conference on Monday.

Honda and Nissan are expected to announce the start of business integration talks, two people familiar with the matter told Reuters, as the carmakers strive to survive a rapidly changing industry landscape. Continue reading “Former Nissan CEO Ghosn casts doubt on success of Nissan, Honda alliance”

Summary

• Deal would create No. 3 global auto group after Toyota, Volkswagen
• Honda, Nissan aim to list holding company in Aug 2026 -source
• Joint press conference with Mitsubishi Motors set for Monday

TOKYO, (Reuters) – Honda and Nissan are likely to unveil on Monday a pact to explore a merger by setting up a joint holding company, a person familiar with the matter told Reuters, with the aim of reaching a deal by June 2025. Continue reading “Honda, Nissan aim to close merger talks in June 2025, source says”

• Maruti Suzuki to introduce its first eBorn – e VITARA, in India at Bharat Mobility Global Expo 2025.
• The e Vitara is built on the HEARTECT-e platform specially designed for Battery Electric Vehicles (BEV).
• Equipped with state-of-the-art technology and advanced safety features – e VITARA to offer a superior driving experience.

New Delhi,  Maruti Suzuki India Limited (MSIL), the country’s largest passenger vehicle manufacturer, is poised to transform electric mobility in India. The company will showcase its production ready eBorn SUV, the e VITARA at the Bharat Mobility Global Expo 2025. The e VITARA is a global model manufactured in India for the world, recently unveiled by Suzuki Motor Corporation at Milan, Italy. Continue reading “Maruti Suzuki teases its first eBorn Electric SUV; Signals robust EV ecosystem for seamless ownership experience”

Summary

• Trump has threatened to claw back unspent IRA money
• Electric vehicle rebates, gas emissions under fire
• Wind, solar may be untouched

(Reuters) – President-elect Donald Trump has vowed to repeal Joe Biden’s signature climate bill called the Inflation Reduction Act, which initially aimed at some $400 billion in new spending and tax cuts and credits at accelerating America’s transition to a green energy economy. Continue reading “Trump aims at Biden’s Inflation Reduction Act: EVs, clean energy and manufacturing”

Summary

• Demand for Cybertruck shows signs of weakness
• High price, unusual design deter buyers, analyst says
• Tesla U.S. registrations down 7% through Oct, S&P Global Mobility data shows
• Used Cybertrucks are taking longer to sell – industry exec

SAN FRANCISCO, (Reuters) – Tesla is aiming to post slight growth in 2024 deliveries over last year with generous incentives across its EVs – but a lot depends on the success of the new Cybertruck pickup, which is showing signs of weakness, analysts said. Continue reading “Tesla’s 2024 deliveries growth might hinge on Musk’s unorthodox Cybertruck”

Summary

• Northvolt’s collapse was a blow to Europe’s battery industry
• Future growth may depend on Chinese investment and know-how
• Joint ventures with Chinese battery makers could become the norm

VODERADY, Slovakia, (Reuters) – Northvolt’s financial collapse has not entirely crushed Europe’s dream of developing its own electric vehicle batteries but fulfilling it is likely to require Chinese cash and expertise. Continue reading “After Northvolt, Europe’s battery hopes rely heavily on China”

(Reuters) – Tesla said on Friday it was recalling 694,304 vehicles in the United States over an issue with the tire pressure monitoring system (TPMS).

The TPMS warning light may not remain illuminated between drive cycles, failing to warn the driver of low tire pressure, according to a recall acknowledgement notice. Continue reading “Tesla recalls nearly 700,000 vehicles in US over tire pressure monitoring system issue”

NEW YORK, (Reuters) – Swedish electric-vehicle battery maker Northvolt said on Friday it expects to line up additional bankruptcy financing by late January after engaging with over 100 lenders and potential investors.

Northvolt entered bankruptcy on Nov. 21 with a $100-million bankruptcy loan from Swedish truck maker Scania, a shareholder and its biggest customer. But that loan was not intended to carry Northvolt through its entire bankruptcy restructuring, and the company has continued to evaluate proposals for additional financing from strategic and financial investors. Continue reading “Battery maker Northvolt makes progress toward longer-term bankruptcy financing”

FRANKFURT, (Reuters) – Here are the main points of a deal struck on Friday between Volkswagen and unions on the carmaker’s German sites and jobs. The agreement followed more than 70 hours of talks and averted the spectre of strikes at Europe’s largest carmaker.

– Volkswagen will reduce VW AG’s staff in Germany by more than 35,000 jobs, or around a quarter of the division’s workforce, by 2030 in a socially responsible way. Continue reading “What’s in Volkswagen’s deal with the unions in Germany?”

Summary

• Deal sees job cuts and capacity reductions
• Unions hail deal that will keep factories open
• Latest round of talks has been ongoing since Monday
• VW seeks to cut costs as European market shrinks
• Chancellor, top shareholder welcome agreement

HANOVER, (Reuters) – Volkswagen tab on Friday announced sweeping changes to its German operations, including more than 35,000 future job cuts and sharp capacity reductions in a last-gasp deal between Europe’s top carmaker and unions to avert mass strikes. Continue reading “VW reaches union deal to cut 35,000 German jobs after gruelling talks”

Source : PTI | Renewable energy player BCL Industries on Wednesday said it is setting up a bio-energy plant in West Bengal with an investment of INR 150 crore. The company has also received an environment clearance for its 75 KLPD (kilo litres per day) plant coming up in Kharagpur, it said.

Additionally, the work on a similar project with 75 KLPD capacity in Bathinda, Punjab is in full swing. Continue reading “BCL Industries invests INR 150 crore to set up bio-energy plant in West Bengal”

Source : PTI | The National Green Tribunal (NGT) has sought a response from the Delhi government and others in a matter regarding banned petrol and diesel vehicles being used by the government authorities.

According to the rules, diesel vehicles which are more than 10 years old and petrol vehicles which are above 15 years old cannot ply on National Capital Region (NCR) roads. The green body was hearing a BJP MLA’s plea, which claimed non-compliance with the norms by his “old official vehicle”. Continue reading “NGT notice to Delhi over use of banned petrol, diesel vehicles”

Source : PTI | TVS Motor Company on Wednesday reported a 59% increase in its consolidated net profit to INR 479 crore for the third quarter ended December 31, 2023, riding on the back of robust sales across markets. The company posted a consolidated net profit of INR 301 crore in the October-December period of the last fiscal.

Revenue from operations rose to INR 10,114 crore in the December quarter as against INR 8,066 crore in the year-ago period, TVS Motor Company said in a regulatory filing. Continue reading “TVS Motor Q3 net profit rises 59% to INR 479 crore”

Source : PTI | New Delhi: Maruti Suzuki India on Friday said it will introduce a comprehensive EV ecosystem, including charging stations and home charging solutions, alongside its first offering in the segment — eVitara. The company plans to showcase production-ready eVitara at the upcoming Bharat Mobility Global Expo 2025.

The eVitara is a global model manufactured in India for the world, recently unveiled by Suzuki Motor Corporation in Milan, Italy. Continue reading “Maruti Suzuki to introduce comprehensive charging infra along with eVitara”

Source : PTI | Tata Power Delhi Distribution on Friday said it has joined hands with Baaz Bikes for augmenting and setting up of electric vehicle battery swapping stations across North and Northwest Delhi. Tata Power Delhi Distribution Ltd (Tata Power-DDL) is a leading power distribution utility that supplies electricity to about 9 million population in North Delhi.

According a statement, Tata Power DDL signed a Memorandum of Understanding (MoU) with Baaz Bikes (Electorq Technologies Pvt Ltd), a battery-swapping service provider, for augmenting and setting up of electric vehicle battery swapping stations across North and Northwest Delhi. Continue reading “Tata Power DDL partners with Baaz Bikes to provide battery swapping service”

WASHINGTON, (Reuters) – A group of 16 states led by California and environmental groups dropped a lawsuit filed in 2022 that sought to block the U.S. Postal Service’s plan to buy mostly gas-powered, next-generation delivery vehicles.

Since the lawsuit was filed, the Postal Service has shifted from its initial plan to buy 90% gasoline vehicles and 10% EVs to now planning to buy mostly EVs. The California attorney general’s office said on Thursday the states and groups decided to dismiss the lawsuit “given USPS’s commitment to rebuild its fleet with a majority of electric vehicles.” Continue reading “States, environmental groups drop lawsuit over US Postal Service EV purchase plans”

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• Equipped with Level 2 ADAS with 16-Autonoumus Safety Features and 20 Robust Hi Standard Safety Package
• Kia Connect 2.0 brings cutting-edge features such as real-time diagnostics and Over-The-Air (OTA) software updates
• Connected Car Navigation Cockpit – 76.2cm (30”) Trinity Panoramic Display panel
• Syros offers first-in-segment Rear Seat Slide, Recline & Ventilation
• Syros to come with Kia first ever Smartstream G1.0 turbo GDI with 6MT configuration

New Delhi, India – 19th Dec 2024: Kia India has launched the much-anticipated Kia Syros, a revolutionary SUV that is bound to set new standards in design, technology, and space. Built on the reinforced K1 platform, the Syros is tailored to meet the needs of urban drivers and tech-savvy adventurers, blending versatility with cutting-edge advancements. The model introduces the first in-segment rear sliding, reclining and ventilated seats along with several other unrivalled features, like a dual-pane panoramic sunroof and Level 2 ADAS with 16-Autonoumus Safety Features, complemented by a comprehensive suite of 20 Robust Hi Standard Safety Package. Continue reading “Kia Syros World Premiere: A Revolutionary SUV Offering a Fusion of Bold Design, Smart Connectivity, and Advanced Safety Features”

Mumbai,  Magenta Mobility, a leading provider of electric mobility solutions, has solidified its position as India’s largest 4-wheeler electric cargo fleet operator. With a fleet exceeding 500 electric cargo 4-wheelers, the company is transforming urban and intercity logistics while reinforcing its commitment to sustainable and efficient transportation.

Building on its leadership in the 3-wheeler EV segment, where it serves major clients such as Amazon, Flipkart, and BigBasket, Magenta Mobility is now aggressively expanding into the 4-wheeler category. This strategic move strengthens its foothold in the evolving electric mobility ecosystem. The company has launched interstate services across key corridors, including Rajasthan-Haryana-Delhi, spanning over 180 kilometres, and Delhi-Haryana-UP, covering more than 140 kilometres. Additionally, Magenta’s intercity services include the Mumbai-Pune-Mumbai route, a 422-kilometer round trip. Continue reading “Magenta Mobility Strengthens Leadership in 4-Wheeler EV Cargo Fleet with Rapid Expansion into Intercity and Interstate Logistics”

BEIJING, (Reuters) – TuSimple Holdings said on Thursday it would rebrand as CreateAI and pivot from autonomous trucking to AI gaming technology, marking an attempt by the once-prominent self-driving truck startup to make a comeback.

CEO Cheng Lu told Reuters in an interview that the move into gaming and animation technology represented a natural evolution of the company’s capabilities, though the transition comes after two years of setbacks and regulatory challenges. Continue reading “Self-driving truck startup TuSimple rebrands as CreateAI, shifts to gaming tech”

TAIPEI, (Reuters) – A senior executive of Taiwan-based contract manufacturer Foxconn is in France to discuss a potential stake purchase in Nissan Motor from the Japanese automaker’s biggest shareholder Renault Central News Agency reported on Thursday.

Jun Seki, a former Nissan executive who now leads Foxconn’s electric vehicle business, is in France to meet Renault officials, the official Taiwanese news agency reported, citing a source familiar with the matter. Continue reading “Foxconn exec in France to discuss Nissan stake purchase from Renault, Central News Agency reports”

(Reuters) – New car sales growth in Europe turned negative again in November, after showing a meagre growth in October, weighed by sharp declines in France and Italy, and a stagnation in Germany, industry data showed on Thursday.

The slowdown in electric vehicle (EV) sales was only partly offset by the growth of hybrid-electric car registrations, which topped petrol for a third consecutive month, according to the European Automobile Manufacturers Association (ACEA). Continue reading “European car sales fall in November, led by France and Italy, ACEA says”

Summary

• Honda and Nissan in talks to deepen ties, merger possible
• Chinese EVs pose huge threat to traditional carmakers, Japan Inc
• Japan auto industry broadly employs 8% of workforce

TOKYO, (Reuters) – Some unions are born of necessity, others from convenience. In the case of Honda and Nissan’s potential merger, it is mostly defensive as Chinese rivals take the world by storm. Continue reading “Honda-Nissan merger talks expose existential threat of Chinese EVs to Japan”

(Reuters) – Stellantis said on Wednesday it would move up the launch of a new hybrid version of its best-selling Ram pickup truck ahead of an electric version, citing slowing EV demand.

The automaker said the Ram 1500 Ramcharger will be open for consumer orders in the first half of next year, while the Ram 1500 battery-electric light duty pickup truck will launch in 2026. The electric version was originally slated to launch in the first half of 2025. Continue reading “Stellantis moves up launch of hybrid Ramcharger as EV demand cools”

Summary

• Ford to appoint new head of quality as Jim Baumbick takes on added EV responsibilities
• Ford faces $165 million penalty for recall delays
• Ford’s shares down 17% this year amid quality challenges

DETROIT, (Reuters) – Ford Motor is appointing a new head of quality, the company confirmed on Wednesday, as the automaker works to reverse its industry-topping record of recalls and reduce warranty costs. Continue reading “Ford to change its quality leader as it chases lower warranty costs”

(Reuters) – North American graphite miners asked the U.S. government on Wednesday to impose a tariff as high as 920% on Chinese suppliers of the battery metal in order to counter what they describe as Beijing’s “malicious trade practices.”

The move is the latest attempt by Western critical minerals suppliers to offset China’s widespread control of the world’s extraction and processing of the building blocks for electric vehicles and electronics. Continue reading “US graphite miners ask Washington to impose 920% tariff on Chinese rivals”

Summary

• Regulator seeks more details on airbag inflators’ technical differences
• Automakers oppose recall, citing low risk and questioning NHTSA’s analysis
• GM, Stellantis among affected automakers, with millions of vehicles that could be impacted

WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration said on Wednesday it will not seek an immediate recall of airbag inflators in about 50 million U.S. vehicles assembled by 13 automakers and instead will conduct further investigation. Continue reading “US to extend airbag probe rather than require vehicle recall”

TOKYO, (Reuters) – The founding family of Japanese IT firm Fuji Soft on Wednesday reiterated its support for a takeover bid by private equity firm Bain Capital that is opposed by Fuji Soft’s board, it said in a statement jointly released with Bain.

Amid a bidding war with rival private equity giant KKR Bain last week offered 9,600 yen per share, 1.6% more than KKR’s 9,451 yen bid, and on Wednesday went hostile after Fuji Soft’s board rejected the higher offer and supported KKR’s. Continue reading “Fuji Soft founding family affirms support for Bain’s $2 bln hostile takeover bid”

Summary

• Stellantis to invest 2 billion euros in Italy in 2025
• Itay pledges over 1 billion euros for auto supply chain
• Stellantis to produce new hybrid and EV models in Italy

ROME, (Reuters) – Fiat-maker Stellantis on Tuesday presented an upbeat plan to revitalise its output in Italy, aimed at drawing a line under months of fraught relations with the government, but with production only set to grow from 2026. Continue reading “Fiat owner Stellantis launches upbeat plan to boost manufacturing in Italy”

Summary

• EU to tighten emissions rules on Jan. 1
• Around 22% of cars sold must be electric to meet targets
• Based on 2024 sales, sector would pay 15 bln euros in fines
• Companies set to discount EVs to avoid penalties

PARIS/GDANSK, (Reuters) – European automakers are raising prices of petrol cars and readying discounts on electric vehicles as they brace for yet another challenge – tougher emissions rules that threaten to further shrink profits across the struggling industry. Continue reading “Europe’s carmakers discount EVs, hike petrol car prices as new emissions rules loom”

Summary

• Fifth round of talks likely to drag into early hours
• VW, unions expected to reach deal or adjourn until 2025 – source
• If talks collapse, unions to escalate strikes in new year

BERLIN, (Reuters) – Volkswagen and German unions will most likely either reach a deal in the early hours of Wednesday or adjourn until the new year, a source familiar with discussions said on Tuesday, as the two sides strive to reach a cost-cutting pact before Christmas. Continue reading “VW, unions likely to strike deal in small hours or break off till next year, source says”

(Reuters) – Uber Technologies and its CEO Dara Khosrowshahi each donated $1 million to U.S. President-elect Donald Trump’s inaugural fund, a company spokesperson told Reuters on Tuesday.

The ride-hailing firm joins a list of several large businesses that have sought to build a positive relationship with the incoming Trump administration after he won the election in November. Continue reading “Uber and its CEO donate $1 million each to Trump’s inaugural fund”

MELBOURNE, (Reuters Breakingviews) – If only M&A solved everything. Japan’s Nissan Motor and Honda Motor certainly need help. The country’s second- and third-largest automakers are in talks to set up a holding company, Reuters reported on Wednesday, citing a source. That may yet lead to a full merger and possibly include smaller rival Mitsubishi Motors according to the Nikkei. Cost cuts would bolster margins at the trio, whose combined market value at Tuesday’s close was $50 billion. But as Stellantis’s woes show, tie-ups alone don’t create great manufacturers. Continue reading “Nissan-Honda merger would be far from cure-all”

Summary

• Honda and Nissan face competition from Tesla and Chinese EV makers
• Merger would create $54 billion company, world’s No 3 auto group by vehicle sales
• Honda, Nissan also exploring ways to cooperate with Mitsubishi-source
• Taiwan’s Foxconn made a rejected approach to Nissan about a bid-source

TOKYO, (Reuters) – Honda and Nissan are in talks to deepen ties, two people said on Wednesday, including a possible merger, the clearest sign yet of how Japan’s once seemingly unbeatable auto industry is being reshaped by challenges from Tesla and Chinese rivals. Continue reading “Honda, Nissan move to deepen ties, sources say, including possible merger”

Source : PTI | New Delhi: Tata Motors on Tuesday said it has won an order for 1,297 bus chassis from Uttar Pradesh State Road Transport Corporation (UPSRTC). This marks the third order for the auto major from UPSRTC in a year, with a cumulative order size of over 3,500 units, Tata Motors said in a statement.

The order was won through a competitive e-bidding process and the bus chassis will be delivered in a phased manner under mutually agreed terms, it added.

Continue reading “Tata Motors bags order for 1,297 bus chassis from UPSRTC”