Summary

• BYD, Geely and Nio shares fall by up to 9.5%
• BYD move intensifies China’s auto price war
• Great Wall Motor CEO says industry is in an unhealthy state

SHANGHAI, (Reuters) – Shares in Chinese automakers such as BYD, Nio and Geely tumbled on Monday after industry leader BYD offered fresh incentives on over 20 models and the CEO of Great Wall Motors warned that the world’s largest auto industry was in an unhealthy state. Continue reading “China auto shares sink after BYD offers trade-in incentives”

SHANGHAI, (Reuters) – China’s commerce ministry will meet industry bodies and automakers including BYD and Dongfeng Motor to discuss increasing sales of “used cars” that were never driven, a person with direct knowledge of the matter said.

The meeting is set for Tuesday afternoon, the person said, speaking on condition of anonymity as details of the meeting were confidential. Continue reading “Exclusive: China regulator summons automakers to discuss ‘zero-mileage’ used car sales”

Source : PTI | Tata Motors has paid ₹38,892 crore in tax and other contributions globally in 2024-25, a dip of 1 per cent as compared with ₹39,344 crore in the FY24, according to its inaugural Tax Transparency Report. Direct contributions, including, corporate income tax, surcharge and cess stood at ₹25,766 crore last fiscal as compared with ₹29,199 crore in 2023-24 fiscal, as per the report.

Indirect contributions, including withholding taxes collected from employee/payroll taxes, stood at ₹12,189 crore in FY25, an increase of 31 per cent against ₹9,284 crore in 2023-24 fiscal. Continue reading “Tata Motors global tax outgo at ₹38,892 crore in FY25”

Source : PTI | Clean-tech company Himadri Speciality on Thursday said it will acquire a 16.24 per cent stake in International Battery Company to increase its presence in the mobility and energy storage sectors. Himadri has already made an investment of $4.43 million (approximately ₹37.47 crore) in the US-based technology developer and manufacturer of lithium-ion (Li-ion) cells, the company said without disclosing the deal size and timeline for completion of the transaction.

The investment, made through a combination of preferred and common shares, gives Himadri representation on the board of International Battery Company.

Continue reading “Himadri Speciality to pick 16% stake in US-based International Battery Company”

Source : PTI | The new Electric Vehicle (EV) policy of the Maharashtra government seeks to achieve 30 per cent EV penetration in the state by 2030, officials said on Saturday. Among other things, the policy lays down that new residential buildings must provide EV charging facilities, and also offers incentives such as toll waiver for these eco-friendly vehicles.

The transport department on Friday issued a government resolution announcing the new policy which will be in effect from April 1, 2025, to March 31, 2030. It aims to make Maharashtra a leading hub for EVs in India through incentives, infrastructure expansion and manufacturing support, said an official release.

Continue reading “Maharashtra rolls out new EV policy; targets 30% adoption by 2030”

Source : PTI | Telangana CM Revanth Reddy who met Union Minister for Heavy Industries and Steel H D Kumaraswamy in the national capital on Saturday expressed heartfelt gratitude to the Centre for sanctioning 2,000 electric buses to Hyderabad under the PM e-DRIVE scheme. Reddy urged Kumaraswamy to allocate 800 more Electric Buses (EVs) to Hyderabad.

According to a press release issued by the Union Minister’s office the Chief Minister also submitted a formal request for the allocation of additional electric buses, citing the growing urban mobility demands in Telangana and the need for cleaner, more efficient public transport solutions.

Continue reading “Telangana CM thanks Kumaraswamy for sanctioning 2,000 e-buses, seeks 800 more”

Source : PTI | India’s duty concession offer for the auto sector under the free trade agreement (FTA) with the UK is “very nuanced” with relaxations and quotas linked to engine capacity and vehicle prices, an official said. India has included adequate safeguards in the agreement with the UK to protect its sensitive sectors and in the automobile segment, the import duty will be reduced over 10-15 years, the official said.

“The duty cut and quota depends on engine capacity and price of vehicles. A lot of nuances are there in the auto sector. India’s offer to the UK is very nuanced,” the official added. Continue reading “India’s auto sector duty concession offer to UK under FTA is very nuanced: Official”

Source : PTI | India could see the introduction of more Range Rover limited edition trims, specially curated for the country, to cater to the diverse set of customers in the market, according to a top company executive. The brand is looking at enhancing its presence as it anticipates growth in the Indian market with the number of high-net-worth individuals expected to rise at a fast clip by the end of this decade.

In an interaction with PTI here, the global Managing Director of the Range Rover brand Martin Limpert said that with localisation to a certain extent, the brand has been able to offer products for customers seeking value for money. Continue reading “More Range Rover limited edition trims to debut in Indian mkt, says MD Martin Limpert”

Source : PTI | The Uttar Pradesh government is set to invest ₹6,124 crore in the construction of ring roads, bypasses, and flyovers across the state, it said in a statement on Sunday. The Public Works Department (PWD) has prepared a blueprint that outlines road connectivity expansion for the financial year 2025-26 with 62 projects in all.

According to the PWD, priority will be given to high density regions and those with heavy vehicular movement.

The initiative not only aims to boost connectivity but also improve traffic management. Continue reading “UP government to invest ₹6,124 crore on building ring roads, bypasses”

Summary

• Tariffs on the EU ‘severely’ affect Volvo Cars’ lower-cost EX30
• Volvo Cars CEO hopeful for fair trade deal
• 50% tariffs on European imports would be ‘almost impossible’, CEO says

STOCKHOLM/DETROIT, (Reuters) – Volvo Cars CEO Hakan Samuelsson said on Friday that its customers would have to pay a large part of tariff-related cost increases, and that it could become impossible to import one of its most affordable cars to the United States if levies increase. Continue reading “Volvo Cars CEO says its customers must pay for rising tariffs”

SAO PAULO, (Reuters) – Chinese automaker GAC announced on Friday its product launch in Brazil, saying it expects its line of hybrid and electric cars to garner market acceptance that would allow it to start building a factory in the country in late 2026.

GAC’s move comes at a time of growing competition in the world’s sixth-largest automotive market, where sales of electric vehicles have been speeding up and other Chinese companies – such as BYD, Chery and GWM – have also made inroads in recent years. Continue reading “China’s GAC starts auto sales in Brazil, eyes local plant by late 2026”

TOKYO, (Reuters) – Advisory firm Glass Lewis has recommended shareholders re-elect Toyota Motor Chairman Akio Toyoda at this year’s annual general meeting in June.

Glass Lewis had recommended that shareholders vote against his re-election the past two years. Toyoda’s position at the automaker has come under scrutiny over governance concerns. Continue reading “Advisory firm Glass Lewis backs Toyota chairman re-election”

Source : PTI | Consumer protection watchdog CCPA is investigating ride-hailing platforms like Ola Cabs and Rapido to ascertain if they are indulging in the unfair trade practice of ‘advance tipping’. On Wednesday, the Central Consumer Protection Authority (CCPA) issued a notice to Uber for allegedly “forcing or nudging” users to pay advance tips for faster service.

“CCPA is investigating other apps like @Olacabs and @rapidobikeapp, they will also be served notice if they are found indulging in such practices,” Union Consumer Affairs Minister Pralhad Joshi said in a post on X on Thursday. Continue reading “CCPA probes Ola, Rapido, other ride-hailing apps on advance tipping”

Source : PTI | BMW Group India has announced a price protection programme for Indian customers purchasing the MINI 3-Door Cooper S, produced in Oxford, UK, due to anticipated duty cuts following the India-UK FTA. Under the programme, the company aims to reassure customers amidst uncertainty surrounding the India-UK FTA’s impact on vehicle prices. BMW Group India President and CEO Vikram Pawah stated the company will pass on any price reduction benefits on the MINI 3-Door Cooper S model in the near future.

This limited-time offer covers cars bought within the next 180 days, ensuring customers receive a refund if prices decrease. The initiative applies to the petrol-powered MINI 3-Door Cooper S, while the all-electric MINI Countryman is excluded.

Continue reading “BMW India offers price protection on MINI Cooper S amid duty cut buzz”

Source : PTI | Maharashtra ranked first for passenger vehicle sales in India, while Uttar Pradesh led in two-wheeler sales in 2024-25, according to data from the Society of Indian Automobile Manufacturers. In 2024-25, passenger vehicles (PV) sales in Maharashtra stood at 5,06,254 units, accounting for an 11.8 per cent share, followed by Uttar Pradesh with 4,55,530 units (10.6 per cent) and Gujarat with 3,54,054 units (8.2 per cent), as per the SIAM data.

Karnataka stood at the fourth position with 3,09,464 units (7.2 per cent), and Haryana was fifth with 2,94,331 units (6.8 per cent).

Continue reading “Maharashtra tops list of states for PV sales in FY25”

Source : PTI | Aiming to improve the city’s air quality, the Delhi Government is set to deploy eight GPS-enabled hydraulic anti-smog gun vehicles across key industrial areas of the national capital, with the initiative to continue for ten months, excluding the monsoon period, officials said Friday. The programme will run for 10 months, excluding the monsoon period, with the goal to significantly reduce airborne particulate matter and improve the air quality.

Each CNG-operated truck is equipped with an advanced anti-smog gun capable of spraying a fine mist over a horizontal distance of 30 meters and rotating 330 degrees, allowing comprehensive dust suppression, Delhi Environment Minister Manjinder Singh Sirsa said.

Continue reading “Delhi to roll out GPS-enabled anti-smog gun vehicles in industrial hubs from June”

Source : PTI | The Supreme Court has directed the National Highways Authority of India to take effective steps to curb unauthorised occupation of highway lands and form surveillance teams of police officials to carry out patrolling. The top court also directed the Centre to give wide publicity to the availability of ‘Rajmargyatra’ mobile application on print, electronic, as well as social media.

The National Highways Authority of India (NHAI) has introduced the ‘Rajmargyatra’ mobile application which aims to provide comprehensive information and efficient complaint redressal for national highway users. Continue reading “SC promotes ‘Rajmargyatra’ app, directs NHAI to crack down on highway encroachments”

Source : PTI | Tata Motors expects to maintain low single-digit growth in passenger vehicle sales this fiscal in line with the overall industry estimate, with the company betting on premium hatchback sales to bounce back with the introduction of its all-new version of Altroz, a top company official said on Thursday. The company is looking to regain 25 per cent share in the premium hatchback segment, having seen it fall in the last one-and-a-half year, Tata Motors Passenger Vehicle Ltd and Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra told PTI here in an interview.

However, it has paused plans to introduce an electric version of the premium hatchback Altroz due to overcrowding in the price segment in which it was envisaged to be positioned, he said. Continue reading “Tata Motors expects PV sales growth to be in low single-digit in FY26, hatchback to bounce back”

SANTIAGO, (Reuters) – Chile’s state-run mining body ENAMI has tapped Rio Tinto, for a 51% share of the Altoandinos lithium project, it said on Thursday, giving the global miner its second major venture in Chile for extraction of the key battery metal.

Rio said it would initially contribute $425 million to the project to fund studies required before a final investment decision. Continue reading “Rio Tinto wins second major Chile lithium project at Altoandinos”

Summary

• Japanese auto suppliers face pressure from U.S. tariffs
• Nissan, Toyota, Ford seek cooperation from suppliers on tariff costs
• Kyowa Industrial diversifies amid tariff challenges, explores new markets

TAKASAKI, Japan, (Reuters) – Four decades ago, Hiroko Suzuki’s father threaded the needle of a U.S. trade war by pushing the family auto-parts business into newer niche products. Now, tariffs imposed by the Trump administration are so sweeping they threaten her own attempt to diversify the 78-year-old company into medical devices. Continue reading “Tariff crossfire hits Toyota, Nissan, Ford suppliers in Japan”

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by PTI

TVS Motor Company has signed a strategic MoU with OOR Cabs Pvt. Ltd to supply 500 TVS King EV MAX electric three-wheelers in FY2025–26. The TVS King EV MAX, known for its 179 km range, Bluetooth connectivity, and fast charging, has been customised for OOR’s passenger fleet. Enhancements include drinking water, thermal insulation roofing, and mobile charging ports, offering riders a premium intra-city experience.

“This partnership strengthens our commitment to sustainable mobility and supports driver-partner empowerment,” said Rajat Gupta, Business Head – Commercial Mobility, TVS Motor Company. Maria Issac, CEO, OOR Cabs, added, “With TVS’s EV expertise, we’re redefining safe, reliable, and eco-conscious commuting for Tamil Nadu’s Tier 2 and 3 cities.” Continue reading “TVS Motor Joins OOR Cabs To Deploy 500 E3Ws In Tamil Nadu”

BEIJING, (Reuters) – China’s electric vehicle giant BYD said on Wednesday it sold 213,325 vehicles with smart assisted driving features in April, accounting for almost half of its total sales of such vehicles as of end-April.

BYD had sold more than 480,000 cars with smart assisted driving features as of the end of last month, the company said in a post on its WeChat account. Continue reading “China’s BYD sold 213,325 vehicles with smart-assisted driving features in April”

(Reuters) – Analog Devices forecast third-quarter revenue and profit above Wall Street expectations on Thursday, betting on upbeat demand for its chips used in the automotive and industrial sectors, lifting its shares more than 3% in premarket trading.

The analog chip industry is seeing a gradual recovery in key sectors such as automotive and industrial, with demand also boosted by shipments of personal electronics being pulled forward amid the U.S.’ shifting tariff policies. Continue reading “Analog Devices forecasts upbeat quarterly revenue on auto, industrial demand”

Summary

• Xiaomi’s YU7 SUV to compete with Tesla’s Model Y in China
• YU7 features longer range than Tesla’s Model Y
• Xiaomi faces challenges after SU7 crash, false advertising complaints

BEIJING, (Reuters) – Xiaomi will start selling its YU7 electric vehicle, in July, founder and CEO Lei Jun said on Thursday, disclosing the launch date of an SUV analysts say will be the strongest rival in China to Tesla’s best-selling Model Y. Continue reading “China’s Xiaomi to start selling SU7 in July, a rival to Tesla’s Model Y”

(Reuters) – Ford sued several California lawyers and law firms on Wednesday, accusing them of fraudulently inflating their legal fees under that state’s Lemon Law, including one instance where a lawyer allegedly billed 57-1/2 hours in one day.

In a complaint filed in Los Angeles federal court against nine defendants, Ford called the alleged improper billings a “magical mystery tour” of bogus work and time entries, spread across thousands of cases against several automakers so they would go undetected. Continue reading “Ford accuses law firms of fraudulent overbilling, including a 57-1/2 hour workday”

(Reuters) – Chinese automaker BYD sold more electric vehicles in Europe than Tesla for the first time, according to a report by JATO Dynamics, as an aging model lineup and CEO Elon Musk’s politics hurt demand for the U.S. EV maker’s cars.

BYD, which also makes plug-in hybrid vehicles, registered 7,231 battery-powered electric vehicles (BEV) in Europe in April, while Tesla registered 7,165 units, the market research firm said. Continue reading “China’s BYD outsells Tesla in Europe for first time, report says”

TOKYO, (Reuters) – Toyota unveiled its latest RAV4 on Wednesday and said the compact sport utility vehicle would be its first model to feature its Arene software development platform.

“The RAV4 marks a start in our journey in building software-defined vehicles,” Simon Humphries, Toyota’s chief branding officer, said. Continue reading “Toyota debuts new software system in revamped RAV4”

(Reuters) – Ford sued several California lawyers and law firms on Wednesday, accusing them of fraudulently inflating their legal fees under that state’s Lemon Law, including one instance where a lawyer allegedly billed 57-1/2 hours in one day.

In a complaint filed in Los Angeles federal court against nine defendants, Ford called the alleged improper billings a “magical mystery tour” of bogus work and time entries, spread across thousands of cases against several automakers so they would go undetected. Continue reading “Ford accuses law firms of fraudulent overbilling, including a 57-1/2 hour workday”

Summary

• Dolphin Surf becomes BYD’s 10th model available in Europe
• Car will be priced from 22,950 euros
• BYD gaining traction in Europe after revamp

BERLIN, (Reuters) – Chinese electric vehicle maker BYD’s low-cost Dolphin Surf became its 10th model available in Europe on Wednesday, with the Berlin launch increasing pressure on European rivals to produce more affordable alternatives. Continue reading “China’s BYD turns up heat in Europe with launch of Dolphin Surf EV”

(Reuters) – A powerful U.S. national security panel on Wednesday submitted a recommendation to President Donald Trump on Nippon Steel’s fraught $14.9 billion bid for U.S. Steel a person familiar with the matter said, without providing further detail on its contents.

The submission complies with an executive order signed by Trump last month, which tasked the Committee on Foreign Investment in the U.S. with outlining whether any measures proposed by the companies assuage the national security risks previously identified by the committee. Continue reading “US panel submits view on Nippon Steel-US Steel deal to Trump, source says”

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”

Source : PTI | Maharashtra Transport Minister Pratap Sarnaik has proposed developing land owned by the RTO (Regional Transport Office) on a PPP model to maximise revenue and prevent encroachments by slums. Addressing the inauguration of the Sub-Regional Transport Office (RTO) building in Kalyan on the weekend, Sarnaik highlighted the progress in constructing new RTO offices and proposed developing other RTO-owned lands on a Public Private Partnership model to maximise departmental benefit and prevent encroachments.

‘We have requested Deputy CM Eknath Shinde that places occupied by slums should be developed on the PPP principle,’ Sarnaik stated.

Continue reading “Maharashtra plans PPP model for RTO land to curb encroachments, boost revenue”

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”