• Summary
• Deal includes $600 bln EU investments in US, more EU energy, defence purchases
• 15% tariff better than threatened 30%, in deal mirroring Japan’s
• EU says rate extends to cars, pharmaceuticals, semiconductors
• US steel and aluminium tariffs stay at 50%, but could fall later

TURNBERRY, Scotland, (Reuters) – The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods – half the threatened rate – and averting a bigger trade war between the two allies that account for almost a third of global trade. Continue reading “US and EU avert trade war with 15% tariff deal”

Summary

• Euro rises against dollar, pound, yen after deal announcement
• S&P 500 e-minis up 0.3%
• Trade deal averts spiraling row between the two allies
• Deal includes 15% tariff on EU imports to US

NEW YORK, (Reuters) – Investors appeared to embrace news of a trade deal between the U.S. and European Union on Sunday that is expected to bring clarity for companies and some certainty to markets ahead of U.S. President Donald Trump’s Friday tariffs deadline. Continue reading “Euro, US stock index futures climb after US-EU trade deal”

Summary

• Samsung signs $16.5 billion chip supply deal, shares rise 3.5%
• Samsung struggles with AI chip competition, losing market share to TSMC

SEOUL, (Reuters) – Tesla CEO Elon Musk said on Monday that the U.S. automaker has signed a deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant’s loss-making contract manufacturing business. Continue reading “Musk says Tesla, Samsung Electronics sign chip supply deal”

Source : PTI | Exide Industries on Saturday said it is strategically poised to lead the future of energy storage through a dual-pronged focus on its conventional lead-acid battery business and the next-generation lithium-ion segment.

Speaking at the company’s 78th Annual General Meeting, Exide Industries chairman Sridhar Gorthi said, “Despite the macroeconomic headwinds and a slowdown in capex across sectors, your company has demonstrated resilience and reaffirmed the commitment to new horizons of innovation, operational excellence, and sustainable growth.” Continue reading “Exide charts growth path with focus on lead-acid, lithium-ion batteries”

WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration said on Friday it has closed a 14-month investigation into a series of minor collisions and unexpected behavior from Alphabet’s Waymo self-driving vehicles without taking further action.

The U.S. auto safety regulator in May 2024 opened an investigation after 22 reports about Waymo robotaxis exhibiting driving behavior that potentially violated traffic safety laws, or demonstrating other “unexpected behavior,” including 17 collisions. Continue reading “US closes probe into Waymo self-driving collisions, unexpected behavior”

SHANGHAI, (Reuters) – Tech firms huge and small will converge in Shanghai this weekend to showcase their artificial intelligence innovations and support China’s booming AI sector as it faces U.S. sanctions.

Chinese companies from heavy hitters Huawei and Alibaba to ambitious startups will dominate the two-day World AI Conference, but Western names like Tesla, Alphabet and Amazon will also participate. Continue reading “Tech firms to showcase AI innovations in a China under US sanctions”

(Reuters) – Tesla said on Friday it had received a number of shareholder proposals regarding the company’s plan to invest in CEO Elon Musk’s artificial intelligence startup xAI.

Musk ruled out a merger between Tesla and xAI earlier in July, but said he planned to hold a shareholder vote on investment in the startup by the automaker. Continue reading “Tesla gets multiple shareholder proposals related to investment in xAI”

Summary

• 2025 margin seen in 4-5% range (5.5-6.5% previously)
• Tariffs cost Volkswagen 1.3 bln euros in H1
• CEO says cuts must be accelerated
• Earnings dropped 29% in Q2 on tariffs, higher EV sales

BERLIN, (Reuters) – Volkswagen reported a 1.3-billion-euro ($1.5-billion) first-half hit from tariffs and cut its full-year sales and profit margin forecasts in the German carmaker’s first assessment of the damage from U.S. President Donald Trump’s trade war. Continue reading “Volkswagen cuts 2025 guidance after $1.5-billion tariff hit in first half”

(Reuters) – Tesla plans to offer a chauffeur-style service operated by human drivers to a limited number of people in the San Francisco Bay Area, a California regulator said on Friday, contrary to a media report that the EV maker would offer a robotaxi service.

Unlike Alphabet’s Waymo unit, Tesla cannot operate its service using autonomous vehicles because the EV maker does not have the required permits and has not applied, according to a spokesperson for the California Public Utilities Commission. Tesla did not respond to a request for comment. Continue reading “Tesla to roll out human-driven chauffeur service in Bay Area, California regulator says”

Source : PTI | India has provided duty concessions to the UK auto exporters only on large petrol and diesel vehicles and high-priced EVs, while protecting sensitive segments of the domestic automotive industry especially mid and small cars and low-priced EVs under the trade pact, an official said.

No concessions are given to electric, hybrid, and hydrogen-powered vehicles in the first five years of the agreement. Continue reading “Duty concessions to UK only on large petrol, diesel vehicles, high-priced EVs: Official”

Source : PTI | Under the pact, which has been termed Comprehensive Economic and Trade Agreement (CETA), tariffs on Scotch whisky will be reduced from 150 per cent to 75 per cent immediately, and further lowered to 40 per cent by 2035.

On automobiles, India will reduce import duties to 10 per cent over five years, down from the current rate of up to 110 per cent, under a liberalised quota system. Continue reading “India likely to gain 5% additional market share in UK within 2 yrs”

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In just a few years, Global Assure, founded in 2018 in Gurugram, has emerged as a game-changer in emergency assistance services across India. At a time when the country’s mobility ecosystem is undergoing a massive transformation, Global Assure is leading the charge with innovation, scale, and a deep customer-first mindset.

From a Modest Start to a National Impact

Started by industry veterans Manish Vij and Vikas Kuthiala, Global Assure began with a clear vision: to make dependable, round-the-clock assistance accessible to every Indian commuter. Today, they’ve grown into a nationwide force, serving over 5 million customers, across two-wheelers, cars, and emerging mobility platforms. Continue reading “Emergency Assistance Reinvented: How Global Assure is Powering India’s Mobility Revolution”

By Abhijit Singh, Mobility Outlook

MG Motor India has launched the fully electric luxury limousine M9 under its MG SELECT division. Priced at INR 69.90 lakh (ex-showroom), the MG M9 stands out with its bold styling and high-end interiors. The M9 is now open for bookings across 13 Indian cities, with deliveries set to begin on 10 August 2025.

The MG M9 is built around a 90-kWh battery pack that offers a certified range of up to 548 kilometres on a single charge. With 242 bhp of power and 350 Nm of torque, it delivers a strong yet composed driving experience tailored more for comfort than speed. Charging is equally quick, with the battery going from 30 to 80 percent in 30 minutes. MG has decided to offer a lifetime warranty on the high-voltage battery for the first owner. Continue reading “MG Bets On Premium EV Growth With Launch Of M9”

Udaipur/New Delhi: Reinforcing its commitment to deliver a hassle-free and delightful car ownership experience, Maruti Suzuki India Limited (Maruti Suzuki), supported by its dealer partners, announced the inauguration of its 5,500^th service touchpoint in India. Located in Udaipur, Rajasthan, the facility was inaugurated by the Company’s Executive Officers, Service, Mr. Ram Suresh Akella and Mr. Yasuhiro Kawai.

With this new workshop in Udaipur, the Maruti Suzuki’s service network now comprises of around 40,000 service bays. The extensive network has a capability to service 30 million customer vehicles in a year. In FY 2024-25, Maruti Suzuki serviced over 27 million vehicles, highest ever in a financial year. Continue reading “Peace of mind, wherever you go: Maruti Suzuki expands service network to 5,500 touchpoints”

New Delhi: Maruti Suzuki India Limited (“Maruti Suzuki”) has signed a Memorandum of Understanding (“MoU”) with the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India to encourage and support startups to develop technology-driven solutions in automobile manufacturing and mobility space.

Startups recognized by DPIIT under the ‘Startup India’ initiative will have the opportunity to participate in Maruti Suzuki’s innovation programs. Upon selection, startups will benefit from expert mentorship, industry insights, and access to Maruti Suzuki’s extensive network and infrastructure, which serves as a valuable testbed for robust validation of their solutions. Additionally, startups will get a platform to connect to incubators, accelerators, and investors to showcase their solutions. Continue reading “Driving Innovation: Maruti Suzuki and DPIIT collaborate to strengthen India’s startup ecosystem”

Summary

• Musk promises fast robotaxi expansion, but regulatory hurdles could cause delays
• Tesla’s core EV business faces headwinds from brand damage and loss of subsidies
• Investors say challenges of robotaxi expansion and declining EV sales leave little room for error
• Tesla shares fall nearly 6% in premarket trading

LOS ANGELES, (Reuters) – Tesla and its CEO Elon Musk are walking an increasingly difficult tightrope as the company navigates declining electric vehicle sales and an autonomous driving business that has yet to get off the ground. Continue reading “Tesla faces difficult road ahead as it hopes robotaxis will offset declining sales”

(Reuters) – Self-driving technology firm Mobileye Global raised its forecast for fiscal 2025 revenue on Thursday, anticipating a rise in orders for its autonomous driving chips as customers clear existing inventory.

Shares of the company rose over 4% in premarket trading.

Automakers have largely resumed placing orders for self-driving hardware after an inventory surplus — caused by COVID-19-related supply concerns some years ago — led to a prolonged slump in demand. Continue reading “Mobileye raises annual revenue view on strong self-driving chip demand”

(Reuters) – Union Pacific, the largest U.S. freight railroad operator, beat second-quarter profit estimates on Thursday, powered by higher revenue from coal shipments and improved pricing.

Coal shipment volumes, a weak spot for U.S. railroad operators, have picked up after U.S. President Donald Trump signed executive orders aimed at boosting coal production. Continue reading “Union Pacific beats quarterly profit estimates on strong coal shipments”

(Reuters) – New car sales in Europe fell more than 5% in June, the European Automobile Manufacturers Association (ACEA) said on Thursday, in a reflection of the global challenges faced by automakers.

Tesla lost market share for a sixth consecutive month despite a rise in overall sales of electric cars, while the four best-selling groups in Europe, Volkswagen, Stellantis, Renault and Hyundai all sold fewer cars than in June 2024. Continue reading “European car sales slump in June as automakers’ woes deepen”

Summary

• Hyundai operating profit down 16% in Q2
• Hyundai takes hit of $606 million from tariffs in Q2
• Warns of higher tariff costs in Q3

SEOUL, (Reuters) – Hyundai Motor posted a decline in second-quarter operating profit on Thursday as U.S. tariffs on vehicles and parts started to weigh on its bottom line and warned of a bigger impact in the current quarter.

Hyundai’s results illustrate the stakes for South Korean officials, who are under pressure to come up with a trade deal after Washington and Tokyo reached an agreement this week that will cut tariffs on its Japanese rivals. Continue reading “Hyundai Motor warns of bigger hit from US tariffs after Q2 profit fall”

(Reuters) – An emerging U.S.-Japanese trade deal could unlock major investment, avert a potential shock to the global economy and may deliver political wins for both U.S. President Donald Trump and Japanese Prime Minister Shigeru Ishiba, though many specifics of the agreement remain unclear.

Here’s a closer look at the early takeaways: Continue reading “Takeaways of US-Japan deal include potential gains for Trump, Ishiba and EU”

Summary

• Automakers face higher tariffs on Mexico, Canada imports than Japan
• Detroit Three lobbying group criticizes deal favoring Japanese imports
• GM, Stellantis shares rise on trade deal news

DETROIT, (Reuters) – Shares of General Motors, Ford Motor, and Jeep-maker Stellantis, some of the biggest automakers in the U.S., rallied on Wednesday after news of a trade deal that will reduce tariffs on imported Japanese cars, as investors saw it as a sign of more deals to come. Continue reading “Japan trade deal sparks hope for US investors, frustration for automakers”

WASHINGTON, (Reuters) – Tesla said on Wednesday it has built initial versions of an affordable car, a move likely meant to stem the steep decline in sales the company has experienced in markets across the world.

Elon Musk’s electric vehicle maker posted the worst quarterly sales decline in more than a decade and profit that missed Wall Street targets, but its profit margin on making cars was better than many feared. Continue reading “Instant View: Tesla says it started building initial versions of an affordable car, posts a steep sales decline”

Summary

• South Korea finance chief was set to board for Washington when news of delay broke
• Pressure piling on Seoul after Japan clinches trade deal
• Range of sectors, investment projects considered under potential deal remain unclear
• South Korea to propose investment package of at least $100 billion -Yonhap

SEOUL, (Reuters) – Talks between top South Korean and U.S. officials to negotiate over U.S. President Donald Trump’s tariffs have been postponed due to a scheduling conflict for U.S. Treasury Secretary Scott Bessent, South Korea’s finance ministry said on Thursday. Continue reading “US-South Korea trade talks postponed over Bessent schedule as tariff deadline looms”

(Reuters) – Car registrations across Europe declined in June, with a 4.4% year-on-year drop to 1.25 million vehicles, data from Jato Dynamics showed on Wednesday.

While overall demand softened, Chinese automakers continued to gain ground, taking a record market share and squeezing several established European brands, the research data showed. Continue reading “Chinese automakers gain ground in contracting European market, data shows”

Source : PTI | With an aim to enhance safety, the ministry of road transport and highways has proposed to make it mandatory for all haulage tractors to be equipped with Vehicle Location Tracking Devices (VLTD) with effect from October 1, 2026.

The ministry in a draft notification to further amend the Central Motor Vehicles Rules, 1989, said the VLTD shall be integrated with an RFID transceiver, capable of reading radio frequency identification data from the coupled trailer and transmitting it to the backend.

Continue reading “Govt proposes location tracking devices to be mandatory for haulage tractors from October”

TOKYO, (Reuters) – Shares of Japanese automakers surged on Wednesday, with Toyota gaining 11% and Honda advancing 9% after U.S. President Donald Trump said he had struck a trade deal with the Japan that includes a 15% tariff.

In a post on Truth Social, Trump said the deal would include $550 billion of Japanese investments in the United States. Continue reading “Japanese automaker shares jump after Trump trade deal”

WASHINGTON, (Reuters) – A group representing General Motors, Ford and Chrysler-parent Stellantis on Tuesday raised concerns about a trade deal that could cut tariffs on auto imports from Japan to 15% while leaving tariffs on imports from Canada and Mexico at 25%.

Matt Blunt, who heads the American Automotive Policy Council that represents the Detroit Three automakers, said they were still reviewing the agreement but “any deal that charges a lower tariff for Japanese imports with virtually no U.S. content than the tariff imposed on North American built vehicles with high U.S. content is a bad deal for U.S. industry and U.S. auto workers.” Continue reading “Detroit Three automakers raise concerns about Japan trade deal”

Summary

• Tesla’s credit revenue faces decline due to policy changes
• Analysts predict Tesla’s credit revenue to drop significantly by 2027
• Tesla’s financials at risk as credit demand and prices fall

SAN FRANCISCO, (Reuters) – A key driver of Tesla’s profit is disappearing fast as the U.S. government changes policies on an environmental asset known as regulatory credits.

Investors are likely to have a number of questions for Chief Executive Elon Musk when Tesla reports second-quarter results on Wednesday. Among them are how fast the EV maker can turn a trial robotaxi program into a money-making business, how to avoid a decline in sales for the second year in a row, and Musk’s possible political plans. Continue reading “Tesla’s easy money from regulatory credits set to dry up amid weakening sales”

(Reuters) – China’s BYD will delay mass production at its new electric vehicle factory in Hungary until 2026 and will run the plant at below capacity for at least the first two years, two sources familiar with the matter said.

At the same time, China’s No. 1 automaker will start making cars earlier than expected at a new plant in Turkey where labour costs are lower, and will vastly exceed its announced production plans, one of the sources said. Continue reading “Exclusive: BYD to delay mass production at new Hungarian plant, make fewer EVs, sources say”

Summary

• South Korea faces pressure to match Japan-U.S. trade deal
• Korean automakers’ shares rise after Japan-U.S. deal
• Seoul to exclude rice, beef, weigh bioethanol imports -Yonhap

SEOUL, (Reuters) – Seoul will take a close look at the terms of a U.S.-Japan trade deal, South Korea’s industry minister said on Wednesday, holding out the prospect of greater cooperation in the energy and industrial sectors ahead of key trade talks in Washington.

Japan and South Korea, manufacturing powerhouses and key U.S. security allies, compete in areas such as autos and steel, so Tokyo’s trade deal will pile pressure on Seoul to reach a similar level of 15%, or better, by an August 1 deadline to avert reciprocal U.S. tariffs of 25%. Continue reading “South Korea to scrutinise US-Japan trade deal as officials fly to Washington”

(Reuters) – Tesla’s electric vehicle registrations in California fell 21.1% in the second quarter, according to industry data, marking the seventh consecutive quarterly drop in the crucial U.S. market.

The automaker’s plunging vehicle registrations come as CEO Elon Musk’s polarizing political activity puts him at odds with the liberal values dominant in the state, which has long been one of Tesla’s key markets. Continue reading “Tesla’s California sales down for seven straight quarters”