Source : PTI | Bajaj Auto Ltd on Monday said its ₹5,632.8-crore share buyback will start from July 1, 2026.

The company is undertaking a buyback of up to 46.94 lakh fully paid-up equity shares of face value of ₹10 each at a price of ₹12,000 per share, payable in cash, for an aggregate amount of up to ₹5,632.8 crore, Bajaj Auto said in a regulatory filing. Continue reading “Bajaj Auto’s ₹5,632.8-crore share buyback to open July 1, close July 7”

MILAN, (Reuters) – Stellantis has added an extra week of summer downtime at its Fiat 500 factory in Turin, northern Italy, ​due to parts shortages from some suppliers, the FIM ‌Cisl trade union said on Monday, adding that the stoppage may also reflect weak demand.

• FIM Cisl said in a statement the automaker had ​notified it of a stoppage at the Mirafiori factory ​from July 27 to 31, adding to a previously ⁠planned three-week summer downtime that was due to start in ​August.
• Stellantis told unions that Mirafiori would halt activities for an extra ​week this summer due to parts supply shortages including for engines, bumpers and sensors, a company spokesperson confirmed.
• Some suppliers are struggling to keep pace ​with increased production of the Fiat 500 city car, which ​was relaunched late last year with a hybrid version, the spokesperson said.
• FIM ‌Cisl’s ⁠Igor Albera, however, said continued stoppages at the plant suggested market demand was weaker than expected.
• Operations at Mirafiori were due to resume on Tuesday after a week’s stoppage around a public ​holiday in Turin.
• Stellantis ​said last year ⁠it aimed to produce around 100,000 units of the Fiat 500 in 2026, in hybrid ​and fully electric versions.
• The automaker’s Europe Chief Emanuele ​Cappellano said ⁠last month the group had made 15,000 Fiat 500s in the first quarter, adding that production was accelerating but stopping short ⁠of confirming ​the 100,000 annual target.
• Albera said Stellantis ​earlier this year cut the Mirafiori daily assembly rate for the 500 to ​400 units from 430.

Continue reading “Stellantis extends summer stoppage at Fiat 500 Turin factory”

Summary

• Drivers fear weaker resale values and uncertain warranty support after the federal denial
• Polestar says pre-2027 sales, software updates and product support will continue
• Volvo won U.S. authorization, leaving Polestar dealers puzzled by the government decision

DETROIT, (Reuters) – When Ryan Rodriguez landed a great deal on a model year 2024 Polestar earlier this month, he did ​not anticipate the brand would soon be in trouble in the United States.

Last week Polestar, which is majority-owned by China’s Geely Holding said ‌it was denied an authorization to sell new models in the U.S. under a federal rule that restricts cars with Chinese-linked connected-vehicle technology, beginning with the 2027 model year. Continue reading “Polestar’s US setback leaves owners asking: who will service my car?”

Source : PTI | TVS Motor Company is looking forward with measured optimism to the road ahead that is “unpredictable, complex and exciting”, according to its Chairman and MD Sudarshan Venu.

In his address to shareholders in the company’s annual report for 2025-26, Venu said the company expects to perform in line with market expectations in its primary market in India, barring any weather shocks that may impact the monsoons or any other unforeseen circumstances. Continue reading “TVS Motor Company looking ahead with ‘measured optimism’: CMD Sudarshan Venu”

Summary

• Geely’s Lotus to hold launch ceremony in Montreal in early July
• BYD, Chery could finish procedures to enter Canada later this year
• Ambassador says trade with Canada could more than double

OTTAWA, (Reuters) – Geely Holding Group’s Lotus brand electric vehicles will arrive in Canada ​next month under an agreement between Prime Minister Mark Carney and Chinese President Xi Jinping, China’s ambassador to Canada Wang Di told ‌Reuters on Friday.

They will be the first Chinese-owned and manufactured vehicles for sale under an agreement that allows up to 49,000 Chinese EVs to enter Canada annually at a reduced tariff rate, as Carney tries to diversify Canada’s trade away from the United States. Continue reading “EXCLUSIVE China’s Geely to ship first Lotus EVs to Canada in July under Carney-Xi deal, ambassador says”

BEIJING, (Reuters) – Major Chinese electric vehicle battery makers on Monday pledged to pay their suppliers more quickly, as part of wider ​efforts to ease financial strain across the auto industry.

Price ‌wars and weakening demand have squeezed margins across China’s vehicle industry, where suppliers have suffered from increasing delays in receiving payments.

Last year, Chinese authorities issued rules ​requiring big companies to settle most payments within 60 ​days. Continue reading “Chinese EV battery makers pledge to pay suppliers more quickly”

Summary

• President Lee says projects to secure overwhelming industrial strength
• Chip investments by Samsung, SK Hynix and local governments top $576 billion
• Expected southwest chip hub plan aims to ease Seoul-area concentration
• Critics question infrastructure, skilled labour and political motives behind the plan

SEOUL, (Reuters) – South Korea on Monday laid out a sweeping industrial ​strategy centred on semiconductors and artificial intelligence, as President Lee Jae Myung unveiled over $576 billion in chip investment to secure global dominance and rebalance growth.

The plan, anchored by ‌Samsung Electronics and SK Hynix, marks Lee’s boldest push yet to align South Korea’s AI and chip ambitions with his pledge to narrow domestic regional disparities and revive economies beyond the Seoul metropolitan area. Continue reading “Korea taps Samsung, SK Hynix in $576 billion AI-chip drive to cement global leadership”

Source : PTI | Union Cooperation Minister Amit Shah will on Saturday launch Bharat Taxi, India’s first driver-owned ride-hailing platform, across 14 major cities in Gujarat, with the government targeting a state-wide rollout within a month.

The cities where the service will go live include Ahmedabad, Surat, Vadodara, Rajkot, Jamnagar, Bhavnagar, Junagadh, Dwarka, Somnath, Valsad, Anand, Nadiad, Mehsana, and Amreli, the Cooperation Ministry said in a statement. Continue reading “India to launch driver-owned ride-hailing platform Bharat Taxi in Gujarat”

Source : PTI | With India’s electric vehicle adoption crossing the ‘early adopters’ phase, Tata Motors Passenger Vehicles is turning to majority of customers to drive EV adoption with four new products and over ten refreshes lined up for launch by FY31 to sustain its leadership position.

Early Adopters are those consumers who adopt a new idea or technology to gain a competitive edge.

The company is preparing for the next phase of growth in its electric vehicles segment, eyeing over 30 per cent EV penetration by FY31, according to an investor presentation. Continue reading “Tata Motors Passenger Vehicles to accelerate EV push with 4 new models, 10+ refreshes by FY31”

Source : PTI | New Delhi: Every time India has faced a major crisis – whether devastating floods, a once-in-a-century pandemic or the latest conflict in West Asia that threatened global oil supplies – it has been the country’s state-run oil companies that have quietly kept fuel flowing.

For decades, India’s public sector oil marketing companies (OMCs) have often been criticised for low returns, government intervention in fuel pricing and bloated operations. They have twice been put on the block for privatisation, with plans to sell Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) gathering momentum in 2002 before being halted by a Supreme Court ruling and again in 2020, before the process was abandoned after failing to attract enough bids. Continue reading “Privatisation of India’s oil giants could cripple energy security, critics warn amid global turmoil”

Source : PTI | Chief Minister Rekha Gupta on Sunday announced that the Delhi government will roll out 300 new air-conditioned electric buses on July 4, saying the government is fully committed to environment protection and developing a world-class public transport system in the national capital.

She also announced that a massive mega-plantation drive to plant 70 lakh saplings across the city will be launched on July 7.

The chief minister, who attended three separate ‘Viksit Bharat Sankalp Sammelan’ events, said her government is dedicated to realising Prime Minister Narendra Modi’s vision of a developed India. Continue reading “Delhi govt to roll out 300 new e-buses on July 4: CM Gupta”

(Reuters) – U.S. safety regulators said on Saturday they had closed their probe into Tesla vehicles over power steering ​loss, in view of a company recall which ‌was carried out last year.

The National Highway Traffic Safety Administration (NHTSA) said the investigation, which had the status of an engineering analysis, ​covered about 376,241 Model 3 and Model Y ​vehicles from the 2023 model year. Continue reading “US safety agency ends power steering probe into 376,000 Tesla EVs”

(Reuters) – German carmaker Volkswagen plans to end its automated driving tie-up with auto supplier Bosch ​as part of a wider push to cut costs and ‌boost competitiveness, Germany’s Bild newspaper reported on Sunday, citing multiple sources.

The Bosch partnership was launched in 2022 with Volkswagen’s software unit Cariad to develop ​software for driver assistance and autonomous driving across Volkswagen’s brands.

A ​spokesperson for Volkswagen directed inquiries to Cariad. Continue reading “Volkswagen plans to end automated driving tie-up with Bosch, Bild reports”

Summary

• Trading expected to start on July 8
• Mercedes-Benz, BlackRock funds among cornerstone buyers
• Deal adds to China tech listing rebound

(Reuters) – Chinese self-driving ​technology firm Momenta Global launched its Hong Kong initial public offering on Monday, ‌seeking to raise up to HK$5.89 billion ($751.1 million), according to its prospectus.

The launch confirms a Reuters report last week that Momenta planned to start the IPO this week and begin trading on July 8. Continue reading “China’s Momenta kicks off Hong Kong IPO, targets up to $751 million”

TOKYO, (Reuters) – Toyota Motor said on Monday that global vehicle sales ​slipped for a fourth consecutive ‌month in May, as decreases in China and the Middle East weighed ​on overall results.

• Global sales ​dropped 7.2% year-on-year to 834,279 vehicles, ⁠Toyota said in a release. ​Overseas sales fell 9.6%, while ​those in Japan rose 11.1%, helped by strong demand for models such as ​RAV4 and bZ4X.
• By region, sales ​in China plunged 31.7% amid tough market ‌conditions, ⁠partly due to rising petrol prices, while those in the Middle East slumped 38.6%. In the ​U.S., Toyota’s ​top market, ⁠they edged down 0.6%.
• Global production declined 5.5% from ​a year earlier, as ​a ⁠3.8% drop in the U.S. and a 13.3% decrease in Asia ⁠offset ​a rise in Japan.
• Toyota’s ​figures include its luxury brand, Lexus.

Continue reading “Toyota sales fall for fourth month in May as declines in China, US and Middle East weigh”

Madhus Garage Equipment Reaffirms Exclusive Partnership with Hunter Engineering, announces the Launch of the Hunter Road Force WalkAway in India

Event also marks the India debut of the Hunter Revolution WalkAway tyre changer, with live demonstrations of Hunter’s wheel aligners and Smart Weight Pro balancer

BANGALORE, INDIA — Madhus Garage Equipment Pvt. Ltd., India’s leading garage equipment solutions provider, today announced the official India launch of the Hunter Road Force WalkAway, Hunter Engineering’s newest diagnostic wheel balancer. The launch event, to be held on 15th July 2026 at the JW Marriott Hotel, Bangalore, will also mark Madhus’s reaffirmation as Hunter Engineering’s exclusive partner in India for 2026 and beyond. Continue reading “Madhus Garage Equipment Reaffirms Exclusive Partnership with Hunter Engineering, announces the Launch of the Hunter Road Force WalkAway in India”

(Reuters) – Hyundai Motor is recalling 96,300 vehicles in ​the U.S. over a ‌software error that may cause the instrument panel ​display to fail, the ​U.S. National Highway Traffic ⁠Safety Administration said on ​Friday.

Here are some details:

• An ​instrument panel display that has failed to show critical safety information, such ​as the speedometer ​or warning lights, could increase the risk of ‌a ⁠crash, NHTSA said.
• The recall covers certain 2025-2026 model Tucson, Tucson Hybrid, and ​Tucson ​Plug-In ⁠Hybrid Electric vehicles.
• The auto safety regulator ​said the instrument ​panel ⁠display software will be updated over-the-air or by ⁠a ​dealer at no ​cost.

Continue reading “Hyundai to recall over 96,000 US vehicles over faulty instrument panel display, NHTSA says”

(Reuters) – Auto giant Volkswagen’s potential plan to shutter four German factories and ramp up job cuts to as many as 100,000 could ​be the biggest ever overhaul in the industry.

The carmaker ‌faces mounting pressure from Chinese rivals, stiff tariffs on car imports into the United States, as well as dwindling demand in Europe, which the company ​has said makes its business model unsustainable.

Here are some of ​the biggest workforce cuts ever announced by global automakers: Continue reading “Biggest job cuts by global automakers”

(Reuters) – Luxury retailer Saks Global on Friday emerged from Chapter 11 bankruptcy after nearly five months with less than half of its previous stores and a quarter of ​its debt.

The company, home to three of America’s most iconic retail brands — Saks Fifth Avenue, ‌Neiman Marcus and Bergdorf Goodman — will operate under the name Exemplar Luxury Group (ELG) and will focus on luxury retail, it said in a statement. Continue reading “Saks Global emerges from bankruptcy with new name, less debt”

Summary

• Geely’s Lotus to hold launch ceremony in Montreal in early July
• BYD, Chery could finish procedures to enter Canada later this year
• Ambassador says trade with Canada could more than double

OTTAWA, (Reuters) – Geely Holding Group’s Lotus brand electric vehicles will arrive in Canada next month under an agreement ​between Prime Minister Mark Carney and Chinese President Xi Jinping, China’s ambassador to Canada Wang Di told Reuters on Friday.

They will ‌be the first Chinese-owned and manufactured vehicles for sale under an agreement that allows up to 49,000 Chinese EVs to enter Canada annually at a reduced tariff rate, as Carney tries to diversify Canada’s trade away from the United States. Continue reading “China’s Geely to ship first Lotus EVs to Canada in July under Carney-Xi deal, ambassador says”

Summary

• Volkswagen plans major group overhaul, sources say
• Unions vow massive resistance against large structural changes
• Workers, Lower Saxony have big say on supervisory board

FRANKFURT, (Reuters) – Volkswagen’s plans to close plants in Germany and nearly double planned job cuts to around 100,000 have ​put the spotlight on its unique governance and ownership structure that have drawn criticism from investors for years.

Like ‌other German conglomerates, the 89-year-old automaker is the result of decades of expansion and strategy shifts, resulting in an empire that stretches from mass-market SEATs to luxury Lamborghinis, as well as stakes in sports car maker Porsche AG and truck maker Traton. Continue reading “Volkswagen Law: the unique structure behind Europe’s biggest carmaker”

Summary

• Restructuring could be biggest in auto industry history
• CEO Blume tried to enforce major cuts in 2024, but faced union resistance
• Shutting Hanover, Zwickau, Emden and Audi’s Neckarsulm could axe more than 45,000 jobs
• Supervisory board members to discuss restructuring on July 9, sources say
• VW’s works council, IG Metall and Lower Saxony vow to resist cuts

BERLIN, (Reuters) – Volkswagen is considering shutting four German factories and ramping up job cuts to as many as 100,000, two people familiar with ‌the matter said on Friday, in what could be the biggest ever overhaul in the industry.

Members of VW’s supervisory board have been informed of the plans, which are due to be discussed at a July 9 meeting, the people said. Continue reading “VW weighs up to 100,000 job cuts, four plant closures in biggest overhaul yet, sources say”

Source : PTI | Indian commercial vehicles industry is expected to register a moderate YoY growth of 4-6 per cent in wholesale volumes in FY27 with the broadened base of last fiscal likely to have some bearing on the growth momentum of this year, ratings agency ICRA said on Friday.

While medium and heavy commercial vehicles (trucks) and light commercial vehicles (trucks) segments are expected to witness a YoY volume growth of 1-3 per cent and 6-8 per cent, respectively, the buses segment is likely to see a 7-9 per cent YoY growth over the fiscal, ICRA said in a report. Continue reading “Domestic CV industry to see moderate growth of 4-6% in FY27: ICRA”

Source : PTI | Bajaj Auto Ltd on Friday said its operations, including manufacturing, sales and service activities, are operating normally despite the cybersecurity incident reported on June 23, 2026.

While the investigation is ongoing, the company remains focused on business continuity and serving its customers, dealers, vendors and business partners, Bajaj Auto said in a regulatory filing.

Continue reading “Bajaj Auto Ltd says operations normal after ransomware-triggered cybersecurity incident”

Source : PTI | National Highways Authority of India (NHAI) on Thursday said it has rolled out multi-lane free flow (MLFF) tolling at Gharaunda toll plaza on the Panipat-Jalandhar section of NH-44 in a step towards realising barrier-less and technology-driven highway travel.

The MLFF system marks a transformative shift from conventional toll plazas by enabling toll collection without requiring vehicles to stop or slow down. Leveraging advanced electronic toll collection (ETC) technology, high-performance sensors and cameras mounted on overhead gantries automatically identify vehicles and deduct user fees through FASTag, allowing uninterrupted travel at highway speeds, the NHAI said in a statement.

Continue reading “NHAI rolls out multi-lane free flow tolling at Gharaunda Toll Plaza on NH-44”

Source : PTI | Bajaj Auto Ltd will strengthen strategically important 125cc plus domestic motorcycle portfolio, while ‘turbo charging’ its electric scooter Chetak in FY27, amid a volatile, uncertain and complex external environment, Chairman Niraj R Bajaj said.

The company will also look to boost exports given the recovery across key international markets, whilst navigating the challenges and disruptions in global logistics, Bajaj said in the company’s annual report for 2025-26. Continue reading “Bajaj Auto to strengthen 125cc-plus bike segment, turbo charge Chetak in FY27: Chairman”

(Reuters) – Automakers Stellantis and Nissan Motor are in ​talks to take over some assets ‌of Japanese auto parts supplier Marelli Holdings, Bloomberg News reported on Thursday, citing sources.

Stellantis is in ​discussions to acquire Marelli’s suspensions business in ​Italy and some other countries, while ⁠Nissan is looking at the supplier’s cockpit ​assets in Japan, the report said.

The discussions are ​part of broader negotiations aimed at saving the auto-parts supplier, the report added. Continue reading “Stellantis, Nissan eye Marelli assets in rescue talks, Bloomberg reports”

WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration proposed on Thursday to end a government requirement for manual brake pedals ​in self-driving vehicles, a move that would make it easier to deploy ‌such vehicles on U.S. roads.

The proposal would not apply to vehicles with human driver controls and NHTSA said it would not drop braking performance requirements, including strict stopping distance standards for ​self-driving vehicles. Continue reading “US proposes to drop brake pedal requirements for self-driving vehicles”

(Reuters) – James Sprayregen, who over three decades built the restructuring practice of Kirkland & Ellis and turned it into the go-to law firm ​for distressed companies, is joining law firm Paul, Weiss, Rifkind, ‌Wharton & Garrison, the firm said on Thursday.

Sprayregen will co-lead the restructuring and debt capital solutions practice at Paul Weiss, the firm said.

Sprayregen, who founded Kirkland & Ellis’ restructuring group ​in 1990, left the law firm in 2024 to become the vice ​chairman of global strategy and growth at the private investment ⁠firm Hilco Global. Continue reading “Top bankruptcy attorney Sprayregen to join US law firm Paul Weiss”

Summary

• Ford tops J.D. Power initial quality rankings for the first time in 16 years
• Ford still leads the industry in recalls, with 51 this year versus Stellantis’ 19
• Infotainment glitches, especially CarPlay and Android Auto connectivity, remained a key trouble spot

DETROIT, (Reuters) – The ​automotive industry’s increasingly complex vehicles improved in overall quality during the past year, with Ford Motor taking the top ‌initial quality award among mass market brands, according to data from J.D. Power.

The achievement for Ford comes after years of lagging scores in the closely watched ranking, as well as costly warranty issues. The automaker is also under a consent order from a federal auto safety regulator, which found that Ford delayed ​recalling some vehicles with defective rearview cameras. Continue reading “US automotive quality increased industrywide last year, with Ford taking top honors”

MILAN, (Reuters) – Ferrari’s first-ever EV model, which has triggered a flurry of criticism since its unveiling last month, needs to be “digested” before it can be ​understood, the company’s Chief Product Development Officer Gianmaria Fulgenzi said ‌on Thursday.

The €550,000 ($626,000) Luce is a four-door, five-seat family car which has baffled fans and commentators alike, as it looks nothing like the Italian marque’s usual fare of low-slung, ​petrol-powered sports cars. Continue reading “Ferrari’s divisive new EV car needs to be ‘digested’, company exec says”

TOKYO, (Reuters) – Honda Motor Chief Executive Toshihiro Mibe secured support for his reappointment to the Japanese automaker’s board at its annual meeting ​on Friday after apologising to shareholders for the company’s poor financial performance.

Honda is ‌seeking to recover from costly strategic missteps after posting its first annual loss in seven decades last month, hurt by more than $9 billion in restructuring costs for its electric-vehicle business and competition from Chinese rivals. Continue reading “Honda CEO apologises for company’s loss, wins investor backing at annual meeting”

Summary

• Polestar will not be allowed to sell cars in the U.S. from model year 2027
• Six percent of its sales in the first quarter came from the U.S
• Move is latest crackdown on Chinese vehicles by Washington
• Other carmakers scrambling to obtain authorization

STOCKHOLM/WASHINGTON, (Reuters) – Polestar ​said on Thursday the Trump administration was forcing the electric-vehicle maker to stop selling vehicles in the United States beginning in the ‌2027 model year as Washington ramps up its crackdown on Chinese vehicles.

Shares of Polestar were down 6.3% on Thursday afternoon on the Nasdaq. Continue reading “US cranks up pressure on China EVs with Polestar ban”

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Source : PTI | Crude oil futures fell by ₹80 to ₹6,589 per barrel on Thursday as improving prospects of a US-Iran agreement and rising shipments through key export routes eased concerns over global supply disruptions.

Extending the slide for the fourth straight session, crude oil for the July delivery slipped by ₹80, or 1.2 per cent, to ₹6,589 per barrel in a business turnover of 5,847 lots on the Multi Commodity Exchange (MCX).

Continue reading “Crude oil futures fall over 1% as supply fears fade amid Iran deal optimism”

Source : PTI | Giving a major boost to public transport, Tamil Nadu Chief Minister C Joseph Vijay on Thursday flagged off 300 new government buses procured at an estimated cost of ₹127.21 crore.

The newly inducted fleet-comprising both city and mofussil buses-immediately commenced operations from key transit hubs, including the Kilambakkam and Koyambedu bus terminals, to enhance commuter connectivity and reduce waiting times.

Continue reading “Tamil Nadu CM Vijay flags off 300 new government buses”