Summary

• Honda expects 500 bln yen op profit in the current fiscal year
• Honda expects additional EV writedown of 500 bln yen
• Honda scraps long-term EV sales target
• Honda indefinitely suspends Canada EV project

TOKYO, (Reuters) – Honda Motor posted its ​first annual loss in nearly 70 years as a listed company on Thursday, hit by more than $9 billion in costs ‌to restructure its electric-vehicle business, and the firm scrapped its long-term EV sales target.

Revealing its worst financial report since Honda listed on the stock market in 1957 underscores how risky an aggressive bet on EVs can be for a legacy automaker when it slams into weaker-than-expected demand. Continue reading “Honda posts first annual loss on $9 billion EV writedown, scraps EV sales goals”

Enhancements elevate accessibility, sportiness and premium luxury, with an added layer of advanced technology across the Kodiaq range

• Advanced Driver Assistance Systems are now available on the Kodiaq
• Lounge variant enhances accessibility with a compelling value-luxury proposition
• Sportline variant showcases Škoda Auto’s motorsport DNA with additional features
• Selection L&K redefines premium with comprehensive, all-round, all-terrain luxury
• Proven 2.0 TSI engine delivering 150kW and 320Nm of torque continues duties
• Seven-speed dual-clutch DSG transmission standard across the range
• Prices start from ₹ 36,99,000 /- (ex-showroom)

Mumbai, 11th May 2026 – Following the introduction of the new Kushaq, Škoda Auto India continues its strong product momentum with a series of updates to its second-generation Kodiaq. With these enhancements, the brand comprehensively refreshes its luxury 4×4 flagship while reinforcing its philosophy of “Luxury, As It Should Be.” Continue reading “Škoda India defines “Luxury, As It Should Be” with Kodiaq”

Source : PTI | The country’s largest carmaker Maruti Suzuki India Ltd on Wednesday said it has committed ₹1,372 crore towards dedicated green logistics infrastructure, as it aims to increase share of rail-based vehicle dispatches to 35 per cent by 2030-31.

The company, which crossed 30 lakh cumulative vehicle dispatches through railways, currently has 26.5 per cent of its total dispatches coming from rail outbound logistics, said Maruti Suzuki India Ltd (MSIL). Continue reading “Maruti Suzuki earmarks ₹1,372 cr on green logistics, crosses 30 lakh dispatches via rail”

Source : PTI | The Bihar government on Wednesday approved amendments to its Electric Vehicle policy with the aim of ensuring that at least 30 per cent of all new vehicles sold in the state by 2030 are EVs.

The decision was taken at a cabinet meeting chaired by Chief Minister Samrat Choudhary. Continue reading “Targeting 30% EV sales by 2030, Bihar govt nod to policy amendments”

Source : PTI | Haryana Transport Minister Anil Vij on Tuesday said the state government will soon procure 1,000 new buses, including 500 e-buses.

He said the government’s objective is to modernise public transport and make it safer, environment-friendly, and more convenient for passengers. The new fleet will comprise 500 electric buses and 500 ordinary buses, Vij said.

Continue reading “Haryana to procure 1,000 buses, including 500 e-buses: Vij”

Source : PTI | Commercial vehicle market leader Tata Motors is “going a bit cautiously” on its expenditure plan due to the West Asia crisis, which has created multiple headwinds, its MD and CEO Girish Wagh said on Wednesday.

While the company has not revised its capex of around ₹3,000 crore for FY27, there could be “some timing difference” going ahead, he told reporters in an earnings conference. Continue reading “Tata Motors turns cautious on capex amid West Asia war headwinds”

Summary

• US, China consider tariff cuts on non-sensitive goods
• Plan avoids pushing China to change economic model, aims for numerical trade targets
• Talks may expand to investment, but US lawmakers warn against opening vehicle sector

WASHINGTON, (Reuters) – The U.S. and China are expected to inch toward a managed trade mechanism for non-sensitive goods this week, with each side possibly identifying some $30 billion worth of goods on ​which they could reduce tariffs and sell to each other without crossing national security red lines. Continue reading “Trump, Xi to weigh tariff cuts on $30 billion of imports in managed trade push”

DETROIT, (Reuters) – Investor support for Ford Motor’s energy storage business sent its stock soaring 13% ​Wednesday, the biggest single-day increase in about six ‌years, following a note from Morgan Stanley highlighting details released by the company on Monday. Ford announced its wholly-owned energy subsidiary ​late last year, and it is being ​directed by Lisa Drake, who has been a ⁠key leader in the company’s efforts around electric vehicles.

Here ​are the details: Continue reading “Ford stock surges 13% on investor optimism for new energy storage business”

Summary

• Reuters tests reveal long wait times, sparse availability in Texas cities
• Reuters reporters experienced canceled rides, drop-off problems
• Tesla’s robotaxi service offered in three Texas cities so far

DALLAS, (Reuters) – When Tesla announced an expansion of its robotaxis to Dallas and Houston last month, some investors touted momentum for CEO Elon Musk’s mission to transform the electric-vehicle maker into an AI-powered, driverless-tech giant.

Reuters reporters who recently tested Tesla’s robotaxis in those cities, however, found them to be still in a beta-testing ​phase. The service was plagued by long wait times and sometimes no availability at all. Drop-off spots on some rides were far away from the rider’s destination. Continue reading “Tesla’s robotaxi rollout features Texas-sized wait times”

(Reuters) – BYD is negotiating with Stellantis and ​other European car makers to take over underused factories in ‌the region, Bloomberg News reported on Wednesday, citing the Chinese company’s top international executive.

The world’s largest electric-vehicle seller is discussing potential deals to take on plants in ​countries such as Italy, BYD’s Executive Vice President Stella Li told ​Bloomberg in an interview. Continue reading “BYD in talks with Stellantis, others for Europe plants, Bloomberg News reports”

Summary

• Kia Battery-as-a-Service (BaaS) finance program launched for Kia Carens Clavis EV
• Program offers optimized financing and flexible ownership pathways to encourage wider EV adoption
• BaaS model makes EV ownership more affordable with easy finance options starting at INR 51,520 and battery subscription at INR 3.3/km

NEW DELHI, India, 13 May 2026: Kia India, one of the country’s leading mass-premium automakers, today announced the launch of its Battery-as-a-Service (BaaS) finance program for it’s first ‘Made-In-India’ electric vehicle, the Kia Carens Clavis EV. Designed to accelerate electric vehicle adoption in India, the initiative aims to make EV ownership significantly more accessible by offering customers greater financial flexibility. Continue reading “Kia India Launches Battery-as-a-Service Finance Program to Accelerate EV Adoption and Democratize Sustainable Mobility”

MILAN, (Reuters) – Stellantis Chief Executive Antonio Filosa said on Tuesday partnerships would be a key part of the automaker’s future strategy, as it prepares ​to present a new multi-year business plan next week.

Filosa said Stellantis ‌had learnt the power of partnerships and that “they will be embedded in our strategy going forward”. Continue reading “Stellantis CEO says partnerships will be part of future strategy”

BERLIN, (Reuters) – U.S. electric vehicle maker Tesla ​will increase its investment in battery ‌cell production at its plant outside Berlin by almost $250 million, boosting its capacity target for ​the site, the company said on ​Tuesday.

Tesla announced in December investments amounting ⁠to almost 1 billion euros ($1.2 billion) ​at the site in Gruenheide, south-east of ​the German capital, as it seeks to bring battery cell and vehicle production all under one ​roof from next year. Continue reading “Tesla ups investment in boost to Berlin battery cell production”

Summary

• Maryland reaches $2.25 billion settlement with owner, operator of ship that destroyed bridge
• Companies that operated Dali deny wrongdoing
• Operators accused of misleading NTSB

WASHINGTON, (Reuters) – The U.S. Justice Department said on ​Tuesday that a grand jury indicted two foreign operators and a shoreside superintendent in the March 2024 collision of the 984-foot cargo ‌ship Dali that destroyed Baltimore’s Francis Scott Key Bridge and killed six construction workers.

Separately, Maryland State Attorney General Anthony Brown said the state reached a final settlement of $2.25 billion with Grace Ocean Private Limited and Synergy Marine Pte Ltd, the owner and operator of the Dali ahead of a ​June 1 trial date. The settlement does not resolve Maryland’s claims against the shipbuilder, Hyundai Heavy Industries. Continue reading “US indicts two foreign operators, individual in 2024 collapse of Baltimore Key Bridge”

Summary

• Altman says Musk backed for-profit plan, rejects claim of betrayal
• Musk seeks $150 billion in damages to be paid to OpenAI nonprofit
• Lawyer for Musk challenges Altman’s honesty
• Testimony may end this week, deliberations possible next week

OAKLAND, California, (Reuters) – OpenAI Chief Executive Sam Altman on Tuesday rejected Elon Musk’s claim that he betrayed the ChatGPT maker’s founding mission to serve the public good, and said it was Musk ​who was interested in seizing control of OpenAI and making money from it.

In an August 2024 lawsuit, Musk accused Altman and OpenAI of persuading him into giving $38 million, only to see the ‌nonprofit abandon its mission to benefit humanity and instead become a for-profit corporation. Continue reading “OpenAI chief Sam Altman denies betraying Elon Musk, defends for-profit push at trial”

(Reuters) – A General Motors joint-venture battery company is bringing a small number of ​workers back to an idled electric-vehicle battery factory in Ohio ‌this month, although plans for recalling hundreds of laid-off workers there remain uncertain.

GM and its partner on the factory, South Korea’s LG Energy Solution, in January idled ​the facility for six months in response to weak demand for electric ​vehicles. That put the timeline for the return of about ⁠850 workers sometime in June. Continue reading “GM-LG’s restart date at Ohio battery plant uncertain”

(Reuters) – Global demand for electric vehicles rose for a second straight month in April as high petrol prices kept steering buyers ​away from combustion-engine cars, data from consultancy Benchmark Mineral Intelligence showed on ‌Wednesday.

Registrations of new battery-electric vehicles and plug-in hybrid electric vehicles rose 6% from a year earlier to 1.6 million in April, a proxy for sales, although they fell 9% from March’s record ​monthly high, BMI said. Continue reading “Global EV demand rises for second month, data shows”

Summary

• Nvidia CEO Huang to join Trump on China trip
• Reporters saw Huang board Air Force One in Alaska
• Trip could yield results for Nvidia on H200 chip sales

BEIJING/NEW YORK, (Reuters) – Nvidia CEO Jensen ​Huang will join President Donald Trump during his visit to Beijing, igniting hopes in China that the trip ‌could yield results in the tech giant’s long-stalled effort to sell its powerful H200 AI chips to local customers.

Huang’s inclusion, along with more than a dozen U.S. corporate chiefs, was not part of the original plan when the White House released its initial list of executives – a roster that included ​Tesla CEO Elon Musk and Apple’s Tim Cook. Continue reading “Nvidia’s Huang joins Trump’s China trip, spurring hopes for H200 deal”

Summary

• Bessent, He Lifeng to hold talks at airport
• Each met South Korean president separately
• Talks to set the stage for Trump-Xi summit in Beijing

Summit agenda expected to include purchases, investment forums, and semiconductors

INCHEON, South Korea, (Reuters) – U.S. Treasury ‌Secretary Scott Bessent and Chinese Vice Premier He Lifeng started talks in South Korea on Wednesday to lay the groundwork ahead of this week’s summit of the leaders of the world’s two biggest economies in Beijing.

Bessent and He began the talks ​at Incheon airport after each met South Korean President Lee Jae Myung at the presidential Blue ​House, Reuters witnesses said. Continue reading “US Treasury’s Bessent, China’s He hold talks in South Korea ahead of Trump-Xi summit”

WASHINGTON, (Reuters) – Waymo said on Tuesday it is recalling about ​3,800 robotaxis in the United States after identifying a ‌risk that vehicles could enter flooded roads with higher speed limits, raising safety concerns.

The Alphabet unit said the recall followed an ​incident on April 20 in which a Waymo vehicle ​drove into a flooded lane in San Antonio ⁠during extreme weather. Waymo said the vehicle was unoccupied ​and there were no injuries but the incident prompted the ​company to review similar scenarios involving high speeds and impassable flooded roads. Continue reading “Waymo recalls 3,800 robotaxis over risk of entering flooded roads”

Source : PTI | Oil Minister Hardeep Singh Puri On Tuesday assured that there is no fuel supply issue and said the government has ramped up LPG production from 35,000-36,000 tonnes/day to 54,000 tonnes amid West Asia conflict.

Speaking at the CII Annual Business Summit, Puri said there is no LPG supply issue and the country has 69 days of crude oil, LNG stock and 45 days of LPG stock. Continue reading “Oil Minister Puri says no fuel supply issue, ramps up LPG production”

Source : PTI | Maharashtra Transport Minister Pratap Sarnaik on Tuesday directed the cyber crime department of the police to shut down unauthorised bike taxi apps of aggregators such as Ola, Uber and Rapido, and register cases against the owners of these firms.

Bike taxis are not allowed to operate in the state.

In a letter addressed to the Additional Director General of Police (Cyber Crime) and copied to the Director General of Police, Sarnaik said several unauthorised bike taxi services have been operating in the state without mandatory permissions.

Continue reading “Maharashtra transport minister directs police to shut down bike taxi apps”

Source : PTI | India’s crude oil purchases from Russia dropped over 15 per cent in April after the country’s buyer shut the refinery for routine maintenance, European think tank Centre for Research on Energy and Clean Air (CREA) said in a report.

India imported €4.5 billion worth of crude oil (raw material for making fuels like petrol and diesel) from Russia in April, down from €5.3 billion worth of imports in the preceding month. Continue reading “India’s Russian oil imports drop in April on Nayara refinery shutdown”

BERLIN, (Reuters) – Volkswagen’s U.S. brand Scout was designed from the start to pursue a ​potential stock market listing or to ‌allow strategic investors to take a stake, its CEO Scott Keogh told daily Handelsblatt, as it ​explores new funding options.

• Scout was ​deliberately set up as a stand-alone entity, ⁠Keogh said. Outside capital was “an option ​that is on the table”, Keogh said in ​the interview with the German business newspaper

• Keogh pointed to U.S. investment funds focused on what he ​called the country’s “industrial renaissance”, without naming ​specific investors Continue reading “Market listing an option for VW’s US Scout brand, CEO tells paper”

(Reuters) – Countries in the European Economic Area and Switzerland have committed almost 200 billion euros ($235 billion) ​to their electric vehicle (EV) ecosystem, research group New Automotive said on ‌Tuesday.

The investments underline the scale of the region’s push to cut its reliance on China, which the International Energy Agency said earlier this year made more than 80% of all batteries ​produced in 2025, including those used outside EVs. Continue reading “Europe’s EV investments near 200 billion euros, New Automotive data shows”

Source : PTI | Shares of electric vehicle companies ended higher on Monday, with Ather Energy climbing 6 per cent, after Prime Minister Narendra Modi called for judicious consumption of fuel and increased use of EVs to conserve foreign exchange amid the crisis in West Asia.

Ather Energy shares jumped 6.02 per cent, JBM Auto surged 4.75 per cent, Ola Electric Mobility edged higher by 2.47 per cent and Olectra Greentech went up by 2.16 per cent on the BSE. Continue reading “Ather Energy jumps 6%, EV stocks rise after Narendra Modi calls for higher electric vehicle adoption”

Source : PTI | Prime Minister called on Indians to meet the challenge of disruptions to fuel and other supplies caused by the West Asian conflict by adopting austerity measures similar to the ones taken during the Covid pandemic as the country copes with a surge in its import bill.

He underscored the need for a reduction in petrol and diesel consumption through a greater reliance on public transport and working from home during a speech in Hyderabad on Sunday. Continue reading “Need of hour is to use petro products with restraint: PM Modi”

Source : PTI | Union Minister for Road, Transport and Highways Nitin Gadkari on Monday inaugurated Multi-Lane Free Flow (MLFF) barrier-less tolling system at the Mundka-Bakkarwala Toll Plaza on Urban Extension Road-II (UER-II).

The Mundka-Bakkarwala Toll Plaza in Delhi is the second Multi-Lane Free Flow (MLFF) barrier-less tolling system in India after Choryasi Toll Plaza on the Surat-Bharuch section of NH-48 in Gujarat inaugurated on May 1.

Continue reading “Nitin Gadkari inaugurates second barrier less Mundka-Bakkarwala toll plaza on UER-II”

(Reuters) – Boeing said on Friday it was continuing to ​investigate a workplace accident that ‌led to the death of an employee last month, after ​a union called for ​full accountability over the incident.

Daniel Lussier, ⁠a 53-year-old aircraft mechanic ​at Boeing and member of ​the International Association of Machinists and Aerospace Workers (IAM), died in April following ​an accident at the ​Wichita plant. Continue reading “Boeing probing worker death as union calls for accountability”

Summary

• Middle East impact driven by higher costs, lower volumes
• Quarterly operating profit drops nearly 50%
• Full-year outlook misses analyst expectations

TOKYO, (Reuters) – Japan’s Toyota expects the effects of the Iran war ​to cost it about $4.3 billion this financial year, in one of the most significant warnings yet ‌by a global company on the wider impact of the conflict.

The world’s largest automaker reported an almost 50% drop in quarterly earnings on Friday and said full-year profit is expected to fall by a fifth in the year just started, as rising costs from the war outweigh ​surging demand for hybrid vehicles. Continue reading “Toyota expects $4.3 billion hit from effects of Iran war”

Summary

• U.S. hybrid sales up 37% since Iran conflict
• EV sales lag in U.S. despite high gas prices, unlike strong gains in Europe
• Pickup-truck sales remain strong as discounts attract buyers despite fuel costs

(Reuters) – Many American car buyers are gravitating to hybrid vehicles to offset the recent surge in gas prices from the Iran war, ​according to fresh industry sales data and dealers.

U.S. hybrid sales rose 37% in the two months since the Middle East conflict began ‌at the end of February, according to data from research firm Motor Intelligence. That outpaced the sales growth of the overall car market, which was up 15% in that period. Continue reading “US hybrid-car sales soar, along with gas prices”

Summary

• China April car sales -21.6% y/y; exports +80.2% y/y
• Automakers shifting toward premium models
• Entry-level segment a drag on sales

BEIJING, (Reuters) – China’s domestic car sales fell for a seventh straight month in April amid intense ​competition in the world’s biggest auto market but exports stayed strong as automakers increasingly ‌targeted overseas markets.

Sales at home dropped 21.6% from a year earlier to 1.4 million vehicles last month, data from the China Passenger Car Association (CPCA) said on Monday. Continue reading “China’s domestic car demand stays weak but exports strengthen”

Summary

• Industry groups, lawmakers worry that Trump will welcome Chinese auto investments in U.S.
• Democrats, Republicans back legislation to codify data ban on Chinese vehicles
• Chinese EV makers gain market share in Europe, Mexico with low prices as U.S. prices climb

WASHINGTON, (Reuters) – As President Donald Trump prepares to meet with Chinese President Xi Jinping this week, the U.S. auto industry and lawmakers on both sides of the aisle are hammering him with ​a simple message: Please don’t offer China any access to the U.S. car market.

Trump in January told the Detroit Economic Club that it would be “great” if Chinese automakers wanted to build ‌plants in the U.S. and employ Americans, adding: “I love that. Let China come in, let Japan come in.” Continue reading “US industry, lawmakers plead with Trump: Don’t open door to Chinese cars at Xi summit”

Source : PTI | The government on Thursday said 101 auctioned mineral blocks have come into operation since the introduction of the auction regime in 2015.

The achievement underscores the transformative impact of reforms undertaken by the mines ministry in close coordination with state governments, contributing towards the vision of self-reliant India, the mines ministry said in a statement.

Continue reading “Govt says 101 mineral blocks started operations since auction regime began in 2015”

Source : PTI | Hotayi Electronics, Malaysia’s leading electronics manufacturing services company, will invest ₹700 crore at Sanand in Ahmedabad, with Deputy Chief Minister Harsh Sanghavi handing over offer-cum-allotment letter to the firm on Thursday.

The investment will further strengthen Gujarat’s semiconductor and electronics manufacturing ecosystem, the state government said in a statement. Continue reading “Hotayi Electronics to invest ₹700 cr to boost semiconductor, manufacturing ecosystem in Gujarat”

(Reuters) – Mercedes-Benz is recalling 144,049 ​vehicles in the U.S. ‌over instrument panel display issues, the U.S. National ​Highway Traffic Safety ​Administration said on Friday.

The ⁠recall includes certain ​2024-2026 AMG GT, C-Class, ​E-Class, SL, CLE, and GLC vehicles. Continue reading “Mercedes-Benz to recall about 144,000 US vehicles over display issues, NHTSA says”

Summary

• Tie-up expands from sales to manufacturing in Europe
• Plan targets EV output, filling underused capacity
• Zaragoza plant to build Leapmotor B10, new Opel SUV
• Partners consider transferring Madrid plant ownership to JV

MILAN, (Reuters) – Stellantis and China’s Leapmotor plan to start joint car production in Europe, with two models ‌to be built in Spain, deepening their tie-up beyond distribution into manufacturing, the Franco-Italian automaker said on Friday.

The move comes ahead of Stellantis’ new business plan on May 21, as CEO Antonio Filosa seeks to regain market share in North America and Europe ​and turn around operations. Continue reading “Stellantis, Leapmotor deepen ties with joint EV production in Europe”

LONDON, (Reuters) – Rio Tinto is evaluating the economic potential of McEwen Copper’s giant Los Azules project in Argentina as the mining group considers ​increasing its 17.2% stake in the development, two industry sources said.

Los Azules ‌is among the world’s 10 largest undeveloped copper projects and the move highlights Rio Tinto’s push for large-scale copper assets as miners scramble to meet surging demand from data centres and the global clean ​energy transition. Continue reading “Exclusive: Rio Tinto considers raising stake in Argentina’s Los Azules copper project, sources say”

(Reuters) – Porsche AG said on ​Friday that it planned to ‌cut more than 500 jobs as it discontinues three subsidiaries ​to focus on core ​business.

The company the units Cellforce Group ⁠GmbH, Porsche eBike Performance ​GmbH and Cetitec GmbH would ​be discontinued. Continue reading “Porsche AG to cut over 500 jobs as it sharpens focus on core business”

BUENOS AIRES, (Reuters) – Mercedes-Benz Trucks ‌and Buses Argentina on Friday inaugurated a $110 million industrial truck plant in Zárate, a municipality ​in Buenos Aires province.

The factory can ​produce up to 10,000 units per ⁠year and will produce the Atego and ​Accelo trucks, as well as the OH ​and OF bus chassis, company executives said at a press conference. Continue reading “Mercedes-Benz Trucks and Buses Argentina inaugurates $110 million plant”