Source : PTI | The revenue of listed auto ancillary companies grew at a compound annual growth rate (CAGR) of 11 per cent during FY16-26, according to a report by Equirus Securities.

Sectoral revenues during the period rose nearly three-fold to about ₹5 lakh crore during the period, according to the report.

It noted that exports have more than tripled over the past decade and have emerged as an important contributor to industry growth alongside rising vehicle content and premiumisation trends. Continue reading “Revenue of auto ancillary firms grew at 11% CAGR during 2016-26: Report”

Source : PTI | Kerala Cultural Affairs Minister P C Vishnunadh on Thursday said the Priyadarshini scheme would significantly enhance women’s mobility in the state.

The scheme offers free travel for women on KSRTC ordinary buses and is expected to strengthen their economic independence by reducing travel expenses.

Speaking to reporters, Vishnunadh said a study assessing the social impact of the scheme would be conducted, and its findings would be made available one month after its implementation.

Continue reading “Women’s free bus travel scheme to boost mobility, empowerment: Kerala Minister Vishnunadh”

SAN FRANCISCO, (Reuters) – General Motors may scrap plans to use a lower-cost, iron-based battery chemistry that many automakers are using to cut electric-vehicle costs, GM’s head of battery technology ​said.

The Detroit automaker had said it planned to develop lithium-iron phosphate, or LFP, batteries for use ‌in future EV models, and would begin making those batteries in late 2027 at a jointly owned plant in Tennessee. Continue reading “Exclusive: GM may ditch LFP batteries for future EVs”

BRUSSELS, (Reuters) – (This June 10 story has been corrected to say that Estonia and Denmark have also approved Tesla’s driver assistance software, in paragraph 4)

Tesla Full Self-Driving supervised driver assistance software has been authorised ​in Belgium, Annick De ​Ridder, the transport minister of ⁠Flanders region said on Wednesday ​in a post on X.

“I ​just signed the approval,” she said in a post on X featuring ​a picture of an official ​signed document. Continue reading “Tesla gets go-ahead to sell self-driving technology in Belgium”

(Reuters) – Honda Motor America ​is recalling 1,049,883 vehicles in ‌the United States due to a defect in the ​tyre repair kit, ​the National Highway Traffic Safety ⁠Administration (NHTSA) said on Wednesday.

The ​issue involves a faulty sealant ​bottle, in which pressure can build up, potentially causing the ​cap to detach and ​become a projectile, the regulator said. Continue reading “Honda recalls over 1 million US vehicles due to defective tyre kit, NHTSA says”

DETROIT, (Reuters) – The United Auto Workers has ​reached a deal with axle supplier ‌Dauch Corp after a 10-day strike against the company at its Three Rivers, Michigan, plant, ​union President Shawn Fain said on ​Wednesday.

• Dauch, formerly known as American Axle, ⁠supplies axles to General Motors’ full-size ​and midsize trucks from the plant.
• Members of ​UAW Local 2093 will soon vote on the new agreement with the company that includes a ​top wage rate of $30 per hour ​by 2030, a more than 36% increase in four ‌years, ⁠said Josh Jager, bargaining chairman for Local 2093.
• The strike will continue until the contract is ratified, the UAW said.
• Workers at ​the Dauch ​plant ⁠in 2008 agreed to accept lower wages. Since then, the top ​wage has increased by $4 to $22 ​per ⁠hour, Jager said.
• A Dauch spokesperson said in a statement: “We appreciate the efforts of both ⁠the ​UAW and Dauch labor ​negotiations teams to find common ground.”

Continue reading “UAW reaches deal with Dauch Corp after 10-day strike”

BEIJING, (Reuters) – China’s northeastern city of Changchun, home to the country’s oldest automaker ​FAW Group, has released a draft ‌plan through 2030 to revamp its decades-old auto sector, aiming to attract electric-vehicle makers ​such as BYD and Xiaomi.

Here are ​key points from the draft plan:

• China’s ⁠domestic auto industry is expected to ​consolidate significantly, with the number of automaker ​groups projected to fall to about 15 by 2030 from the current 71, according to the ​draft released earlier this week by ​the city’s industry and information technology bureau.
• FAW Group ‌has ⁠experienced a decline in production and sales in recent years, increasing the likelihood of restructuring pressure on the state-owned enterprise.
• Changchun ​plans to ​leverage FAW’s ⁠headquarters presence to attract partners such as Leapmotor to introduce ​new vehicle models.
• The city is targeting ​high-growth ⁠automakers including BYD and Xiaomi to set up northern production bases, smart vehicle ⁠R&D ​centres, or key component ​projects to diversify its industrial base.

Continue reading “China’s Changchun unveils auto revamp plan, seeks BYD and Xiaomi to boost EV push”

Summary

• Uber says New York City law shields dangerous drivers and fraudsters
• Law slated to take effect on July 28
• New York City reviewing Uber’s complaint
• Uber faces ​3,571 lawsuits over driver conduct

NEW YORK, (Reuters) – Uber Technologies sued New York City to ‌block enforcement of a new law that it said would unconstitutionally force it to keep drivers it does not want on its platform.

In a complaint filed late on Tuesday night, Uber said the law against “wrongful deactivations” would improperly shield drivers who ​engage in dangerous, threatening or other inappropriate behavior, threatening public safety and causing “immediate and irreparable harm” by ​undermining the company’s reputation and goodwill. Continue reading “Uber sues New York City over ‘reckless’ driver protection law”

Source : PTI | More than 55,000 challans were issued and over 3,100 vehicles were impounded or towed during a week-long anti-encroachment and unauthorised parking drive conducted to decongest pavements and roads and ease traffic flow.

The Delhi Traffic Police said on Wednesday that the action was taken at 144 locations across Delhi between June 1 and June 7, with intensive operations carried out from June 3 to June 6 in all traffic circles and ranges in coordination with the MCD.

Continue reading “Over 55,000 challans issued as traffic police, MCD crack down on encroachments, illegal parking”

Source : PTI | Coworking solutions firm Urban Vault has given on sub-lease 16,000 sq ft office space in Gurugram to Green SM, the electric ride-hailing service backed by Vietnam’s Vingroup.

Bengaluru-based Urban Vault currently has a portfolio of over 2.80 million sq ft, comprising more than 70,000 seats across 80 locations. It primarily has a presence in Bengaluru, Pune and Gurugram. Continue reading “Green SM leases 16,000 sq ft workspace in Gurugram”

ESKILSTUNA, Sweden, (Reuters) – Truckmaker Volvo Group said ​on Wednesday customer demand and deliveries ‌in Europe are stable at good levels across the business in the second quarter while in North ​America, demand remains strong with ​production gradually increasing.

• Cost inflation is trending ⁠upward, while at the same time, ​high utilisation of customers’ trucks and machines ​supports service activity, the Swedish group said ahead of presentations to investors.
• It predicted its Trucks ​and Volvo Construction Equipment units would ​outperform historical growth rates. It did not specify a ‌timeframe.
• Self-driving ⁠trucks unit Autonomous Solutions aims to have driverless on-highway operations by the first quarter of 2027, and to approach around $3 ​billion in ​sales ⁠within five years, supporting group profitability.
• Engine and power systems unit ​Volvo Penta plans to double ​sales ⁠in the coming years.
• Volvo Group is one of the world’s largest makers of trucks, buses ⁠and ​construction equipment.
• Share price unchanged ​by 0753 GMT vs Tuesday closing

Continue reading “Truckmaker Volvo says demand is good in Europe, strong in North America”

(Reuters) – Honda Motor America has ​recalled 880,514 vehicles in the ‌United States over the failure of rear suspension components in ​the vehicles, the National ​Highway Traffic Safety Administration (NHTSA) said ⁠on Wednesday.

The recall includes ​certain Honda Pilot, Ridgeline, Passport, ​Acura MDX vehicles, the NHTSA said.

The vehicles can experience failure of rear ​suspension components, such as ​the rear control arm which could ‌lead ⁠to the loss handling and control, increasing the risk of a crash or injury. Continue reading “Honda America recalls more than 880,000 vehicles over rear suspension components failure”

Berlin, (Reuters) – Porsche will not produce a fully ​electric version of the ‌911 sports car, Porsche CEO Michael Leiters said at an ​event hosted by ​the magazine “Auto, Motor und Sport”, ⁠news agency dpa reported ​on Wednesday.

• All 911 models ​have been combustion-engine models so far with some models also available ​as hybrids
• Porsche has ​had a fully electric sports car ‌on ⁠the market since 2019, the Taycan, as well as two fully electric SUVs
• Porsche ​plans ​to ⁠continue investing in electric mobility selectively, guided ​by customer demand, ​said ⁠CEO Leiters
• Porsche has overestimated demand for electric models and ⁠has ​somewhat shifted ​back to combustion-engine vehicles

Continue reading “Porsche won’t produce fully electric 911, dpa cites CEO as saying”

Summary

• Renault CEO says EV demand up 50% in France and Germany since Iran war
• Company considers more shifts at French and Slovenian EV plants to meet demand
• CEO rejects offers from Chinese automakers to use ​Renault’s European factories

BRUSSELS, (Reuters) – Renault’s electric vehicle order book is up by 50% in some markets, such as France and Germany, since the Iran war started, the carmaker’s Group CEO Francois Provost told Reuters in an interview on Wednesday.

Provost said ​Renault had no problems in terms of sourcing batteries but the company was having to ​work hard to keep up with demand for electric vehicles, and it was setting ⁠up a task force to tackle this matter. Continue reading “Renault EV orders have surged in Europe since Iran war began, says CEO”

(Reuters) – Harley-Davidson said on Tuesday it is bringing ​production of the ‌Revolution Max engine platform for North America back to ​the U.S.

The motorbike ​maker uses the engine ⁠in its Sportster S, ​Nightster and Pan America ​1250 models. Continue reading “Harley-Davidson to bring Revolution Max production back to US”

Summary

• SpaceX’s high valuation and unproven AI ambitions may limit optimism
• Tesla’s established profitability and Musk’s dual role support case for holding both stocks
• Analysts debate potential merger, but expect Musk to remain committed to both companies

(Reuters) – SpaceX’s landmark listing this week is set to test the “Elon premium” that has made Tesla one of the most highly valued U.S. companies and a ​must-have among retail investors.

The rocket company led by Elon Musk is targeting a valuation of $1.77 trillion in its record-setting IPO, which would make it the seventh-biggest publicly traded ‌U.S. company by market value.

Musk’s fans contend that his track record makes buying SpaceX shares at the IPO a no-brainer, but some investors and analysts say the expensive multiple it is expected to trade at makes the risk too high. Continue reading “SpaceX’s lofty valuation set to put ‘Elon premium’ to test”

SAN FRANCISCO, (Reuters) – General Motors is releasing a software update that allows some U.S. electric-vehicle owners ​to pipe power back to the electric grid, another example ‌of car companies pursuing business opportunities in the energy sector.

The update gives owners of GM’s vehicle-to-home energy system, which allows the EV to power the ​home during a blackout, the expanded capability of feeding electricity ​to the power grid. However, it remains unclear whether doing ⁠so will be popular with drivers, who may also want ​to keep their cars charged. Continue reading “GM to offer EV owners ability to sell power to US electricity grid”

Source : PTI | Vehicles entering the national capital will soon pass through Delhi’s border toll points without stopping as the MCD has initiated introducing a multi-lane free flow toll collection system, reducing traffic and vehicular emissions at the city entry points.

According to the plan, the civic body will upgrade its toll and environmental compensation charge (ECC) collection to an MLFF (Multi-Lane Free Flow) system across its 154 border entry points, officials said on Monday. Continue reading “Barrierless, free-flow toll system soon to ease congestion at Delhi border entry points”

Source : PTI | Crude oil price fell by ₹101 to ₹8,606 per barrel in the futures trade on Tuesday amid weak global trends.

On the Multi Commodity Exchange, crude oil futures for the June delivery slipped by ₹101, or 1.16 per cent, to ₹8,606 per barrel in a business turnover of 6,533 lots.

Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market. Continue reading “Crude oil futures fall amid weak global trends”

Source : PTI | The Karnataka government will issue smart cards to women under the Shakti Scheme enabling them to travel free in state-run buses more effectively, according to Transport Minister Byrathi Suresh.

The minister said that more than three crore people in the state are expected to receive these smart cards. Women will receive the cards at no cost, while men can obtain them by paying a fee, similar to a metro card. “These cards will need to be recharged once the balance is exhausted.”

Continue reading “Karnataka govt to issue smart cards for women bus passengers”

Summary

• Uber partners with British AI startup Wayve
• Vehicles will launch with trained safety operators
• Europe’s complex street layouts have been a challenge

LONDON, (Reuters) – Uber said its users could sign up from Monday for a chance to ride ​in London’s first robotaxis as soon as regulators give the go-ahead for launch, which it expects ‌in the coming months.

The cars will use AI technology from British startup Wayve to drive themselves round the capital’s streets, but will initially have trained operators sitting behind the wheel monitoring the system, the ride-hailing company said. Continue reading “London’s first robotaxis expected in months, Uber says”

Summary

• May marks 8th month of declines in China car sales
• EV makers still outpace overall market
• Car exports maintain strong growth
• VW trying to defend local position

BEIJING, (Reuters) – China’s car sales extended a downturn in May that has become a stress ​test for foreign automakers led by Volkswagen which is trying to revive its China business through locally developed electric vehicles.

Sales ‌dropped 22.3% from a year earlier to 1.53 million vehicles last month, marking an eighth consecutive month of decline, data from the China Passenger Car Association (CPCA) showed on Monday. Continue reading “China car sales downturn extends into May as VW tests EV revamp”

DETROIT, (Reuters) – A strike at a major supplier for General Motors’ trucks entered its second week ​on Monday with the United Auto Workers and Dauch ‌Corp still unable to reach a deal, according to a local union official.

“Unfortunately, we just walked away from the table. The ​company is trying to play games with words and ​not providing anything productive,” Josh Jager, bargaining chairman ⁠for Local 2093, said in a Monday afternoon statement, ​adding the union is working on another proposal to give ​back to the company. Continue reading “Strike at GM axle supplier continues”

Source : PTI | Tata Steel may have to defer the timeline of its 1.25-billion-pound UK project for transitioning to a low-carbon steel-making process by six to eight months, as the company is facing delays in “securing access to electricity”.

As part of its decarbonisation plan, Tata Steel is setting up the UK’s largest low-carbon EAF (electric arc furnace) project of 3.2 million tonnes capacity at Port Talbot with 1.25 billion pounds of investment to replace its now-shut blast furnace plant of similar capacity. Continue reading “Tata Steel says UK plant’s low-emission project facing delays in securing electricity access”

Source : PTI | The fuel price hikes in May saw a noticeable shift in consumer interest towards fuel-efficient and alternative-powertrain vehicles, with dealers reporting a surge in enquiries for such models and electric two-wheeler penetration rising to 9.25 per cent from 6.11 per cent a year ago, FADA said on Monday.

According to the Federation of Automobile Dealers Associations (FADA), India’s overall automobile retail sales climbed 9.55 per cent year-on-year to a record 25.31 lakh units.

Continue reading “Dealers see surge in enquiries for fuel-efficient, green vehicles in May post fuel-price hike: FADA”

Source : PTI | Maharashtra Transport Minister Pratap Sarnaik on Monday warned of strict action against drivers of private buses if the vehicles enter the 200-metre radius around MSRTC bus stands and lure passengers.

After inspecting the central bus stand in Akola city, Sarnaik said IPS-rank officers have been appointed within the Maharashtra State Road Transport Corporation (MSRTC) to ensure that appropriate action, including registering criminal cases, is taken against errant drivers of private buses. Continue reading “Transport minister warns of strict action against private buses soliciting MSRTC passengers”

(Reuters) – J.P. Morgan upgraded Elon Musk-led Tesla to “neutral” from “underweight” on Friday, citing that the electric-vehicle maker’s valuation is increasingly driven by its push into ​autonomous driving and robotics rather than near-term earnings.

The more optimistic view ‌on Tesla comes as Musk pursues expansion across multiple technology ventures. Musk is also taking SpaceX public in what could become the largest IPO on record, with a valuation of roughly $1.7 ​trillion, and an expected market debut on June 12. Continue reading “JP Morgan upgrades Tesla to ‘neutral’, sees robotics driving long-term growth”

Summary

• Deals announced with SK Hynix, SK Telcom, Naver, Doosan, LG Group, Hyundai Motor
• SK Hynix multi-year tie-up will secure advanced memory supply
• Nvidia says SK Hynix partnerships have opportunities to keep extending
• SK Telecom, Naver, Doosan to use Nvidia technology to build data centres
• Samsung Elec, Nvidia discussed cooperation on next generation chips, including HBM5, foundry, autonomous driving chips

SEOUL, (Reuters) – Nvidia on Monday announced a series of deals in South Korea with tech giants including SK Hynix ‌and Naver as it looks to secure crucial memory chips to power its AI ambitions and entice new customers.

The agreements come during a high-profile trip by Nvidia CEO Jensen Huang to South Korea that began on Friday and has seen him dine on grilled pork belly and local spirit soju with the country’s top corporate bosses, throw a baseball pitch and meet with a well-known gamer. Continue reading “Nvidia clinches deals with South Korean giants including SK Group to advance AI boom”

Source : PTI | An association of bus owners in Jharkhand has increased fares by 18 per cent due to increasing fuel costs, officials said on Friday.

The decision was taken after the diesel price crossed ₹100 per litre, they said.

“We last increased bus fares on July 1, 2021. Over the past 59 months, new toll plazas have been established on different routes. Additionally, due to the crisis in West Asia, diesel prices have crossed ₹100 per litre. As a result, owners have been incurring losses. Therefore, we have increased bus fares by 18 per cent,” said Arun Budhia, president of the Jharkhand Bus Owners’ Association.

Continue reading “Jharkhand bus owners’ association increases fares by 18% amid rising fuel costs”

Source : PTI | The country’s largest carmaker Maruti Suzuki India Ltd on Friday said it plans to invest ₹925 crore by FY 2030-31 towards green energy initiatives, including two biogas projects.

The company will set up a 10 Tonnes Per Day (TPD) biogas plant at its Kharkhoda facility, which will be commissioned within FY 2026-27, Maruti Suzuki India said in a statement.

As the second initiative, the company has expanded the capacity of the biogas plant at its Manesar facility, from 0.2 TPD to 0.7 TPD, it added. Continue reading “Maruti Suzuki to invest ₹925 crore by FY31 towards green energy initiatives”

Source : PTI | Maharashtra Chief Minister Devendra Fadnavis on Friday asked authorities to draw a redevelopment blueprint for the BEST undertaking, a civic transport and electricity provider in Mumbai, with citizens’ welfare, employees interests and city’s long-term development as its primary focus.

Chairing a meeting on the modernisation of BEST-run bus depots, Fadnavis said the proposed plan should focus on depot redevelopment, staff housing, public amenities and ensuring the transport utility’s long-term financial sustainability.

Continue reading “Fadnavis pushes BEST depot revamp plan with EV hubs, PPP model and 7,000 new buses”

Summary

• Storage gets bigger display at world’s largest solar exhibition
• Solar majors make battery foray, lean on supply chain networks
• Jinko to nearly triple battery-making capacity this year

SHANGHAI, (Reuters) – China’s major solar panel manufacturers are ramping up higher-margin battery exports to boost revenue ​as growth in photovoltaic (PV) sales slows, betting on rising global demand for renewable energy storage to cut reliance on fossil ‌fuels.

The sector has been hit by weaker domestic installations, slowing exports and record-low prices, with executives expecting global demand to decline in 2026. Continue reading “China’s solar majors charge into batteries as panel sales falter”

WASHINGTON, (Reuters) – President Donald Trump said on Thursday he met with senior leaders in the auto industry to discuss the ongoing debate over “right-to-repair” legislation.

Trump met ​with GM CEO Mary Barra, Ford Motor senior executive Andrew Frick and ‌top officials with the National Automobile Dealers Association and the Alliance for Automotive Innovation along with Republican Senator Bernie Moreno, a former auto dealer.

Ford confirmed it took part in the meeting, while the ​auto groups declined to comment. GM did not respond to a request ​for comment. Continue reading “Trump meets with auto industry over right-to-repair debate”

(Reuters) – Sika sees growth opportunities in China’s renovation market and infrastructure construction in the U.S., the Swiss construction ​chemicals manufacturer’s CEO Thomas Hasler said in an ‌interview with Finanz und Wirtschaft published on Friday.

• Sika has further fragmented its business in China to adapt to the local ​market, which is not uniform, Hasler said.
• Sika has ​re-calibrated its business model there, originally very heavily ⁠focused on new-build projects, to also focus on the ​renovation business, especially in already almost saturated markets such ​as Shanghai, Beijing and Guangzhou.
• It sees sustained growth in its automotive business in China, despite the withdrawal of subsidies for EVs.
• Sika sees ​growth opportunities in U.S. infrastructure construction, which is ​largely unaffected by President Donald Trump’s aversion to renewables, Hasler added.
• Sika ‌is ⁠expanding market share in the construction of traditional infrastructure such as roads or bridges there, while seeing a slump in the commercial construction sector, where reshoring was a ​significant growth ​driver until the ⁠tariff escalation.
• Hasler deemed data centres “a definite growth driver” as operators want the most ​secure buildings to avoid disruptions to operations.
• He said ​the ⁠company’s data centres pipeline is full as the sector is booming in Europe and Asia too.
• Sika senses hope for ⁠improvement ​among its customers in markets ​such as Germany and France due to rising figures for building permits, ​despite ongoing weakness.

Continue reading “Sika targets growth from China renovation market, global data centres”

New Delhi, June 5, 2026: Marking World Environment Day, the Society of Indian Automobile Manufacturers (SIAM) today organized the 6th International Conference on “Climate Action: Accelerating India’s Transition to a Low-Carbon Future,” reaffirming the Indian automobile industry’s commitment to sustainable development, climate responsibility and low-carbon mobility.

The conference brought together policymakers, industry leaders, academia, research institutions, and sustainability experts to discuss strategies for advancing climate action and accelerating the transition to sustainable mobility. Discussions focused on key decarbonization enablers for the entire automobile value chain, including alternate and low-carbon fuels, circular economy practices, and sustainable manufacturing. Continue reading “SIAM Marks World Environment Day with 6th International Conference on Climate Action and Low-Carbon Mobility”