Summary

• Northvolt sells unti to truckmaker Scania
• Companies decline to disclose sale price
• Unit was earmarked for sale by end-2024
• Northvolt’s available cash soon running out

STOCKHOLM, (Reuters) – Sweden’s Northvolt has agreed to sell a business that makes electric battery packs for heavy industry, one of its few profitable units, to its customer and partner Scania, the two companies said on Tuesday, as the battery maker’s restructuring inches forward. Continue reading “Northvolt sells heavy industry battery business to truckmaker Scania”

BEIJING, (Reuters) – China’s electric vehicles are around three to five years ahead of the competition in terms of products, technology and the industrial chain, BYD’s CEO Wang Chuanfu said in an interview with China’s national television broadcaster.

Wang was interviewed on Monday after Chinese President Xi Jinping’s symposium with some of the biggest names in China’s technology sector. Wang was among the business leaders who spoke at the meeting. Continue reading “China’s electric vehicles are around 3-5 years ahead, BYD CEO says”

NEW DELHI, (Reuters) – Tesla has selected locations for two showrooms in the Indian cities of New Delhi and Mumbai, moving closer to its long-delayed plans to sell its electric cars in the country, sources familiar with the matter said.

The U.S. carmaker has been hunting for showroom space in India since late last year in order to start sales in the world’s third biggest auto market, after putting market entry plans on hold in 2022. Continue reading “Tesla picks showroom sites in New Delhi, Mumbai to start India sales, sources say”

Summary

• About 1,650 of Ford’s middle managers to miss stock bonuses
• Move aims to improve employee performance, says Ford spokesperson
• Ford’s stock fell 23% over last 12 months, lagging behind GM’s performance

DETROIT, (Reuters) – Some middle managers at Ford Motor will not get stock bonuses this year in what is seen internally as CEO Jim Farley’s latest attempt to cut the automaker’s bloated costs, according to six people familiar with the matter. Continue reading “Exclusive: Ford slashes manager stock bonuses to cut costs, boost performance”

WASHINGTON, (Reuters) – The Federal Aviation Administration fired fewer than 400 employees out of its workforce of 45,000, Transportation Secretary Sean Duffy said on Monday, as questions rise around air traffic safety amid a spate of recent plane accidents.

Duffy posted the number of layoffs in a social media post message on X, formerly known as Twitter, responding to a post by his Democratic predecessor Pete Buttigieg, who has been critical of the Trump administration’s Department of Transportation. Continue reading “FAA fires fewer than 400 workers, transportation chief says”

Summary

• Bill limits shareholder lawsuits, access to internal records
• Companies consider leaving Delaware due to legal concerns
• State’s corporate court has come under attack by Musk

WILMINGTON, Delaware, (Reuters) – Delaware lawmakers on Monday proposed changes to the U.S. state’s widely used corporate law that would limit shareholder lawsuits after several high-profile companies said they might move their legal home to another state. Continue reading “Delaware bill would limit investor lawsuits as companies threaten to leave the state”

BEIJING, (Reuters) – Complaints about BYD over its move to offer free smart driving features across most of its line-up have flooded a prominent Chinese auto quality platform, many from customers who said they had overpaid for their cars.

Over 4,700 complaints were filed against BYD cars between February 11-17 on 12365auto.com, a third-party auto consumer complaints platform, compared with about 150 the week before and roughly 500 for January. Continue reading “Complaints targeting BYD flood Chinese consumer portal after smart EV launch”

Summary

• Early April eyed for auto tariffs
• No details yet provided
• Trade group: Autos meeting USMCA specifications should not face added tariffs

NEW YORK,  (Reuters) – President Donald Trump on Friday kept alive his drumbeat of tariff threats, saying levies on automobiles would be coming as soon as April 2, the day after members of his cabinet are due to deliver reports to him outlining options for a range of import duties as he seeks to reshape global trade. Continue reading “Trump keeps tariffs drumbeat going, with autos targeted next”

MUMBAI, (Reuters) – A lawyer for an Indian unit of German carmaker Volkswagen said on Monday the country’s $1.4 billion tax demand could become a matter of survival for its business in the country, as it continues to contest the order.

The tax notice was slapped on Volkswagen unit Skoda Auto Volkswagen India in September, with Indian authorities claiming the company was using a strategy of breaking down imports of some VW, Skoda and Audi cars into individual parts to pay a lower duty. Continue reading “India’s $1.4 billion tax demand a matter of survival for Volkswagen India unit, lawyer says”

(Reuters) – Honda Motor will resume talks with Nissan Motor to form the world’s fourth-biggest automaker provided Nissan CEO Makoto Uchida steps down, the Financial Times reported on Tuesday citing a person familiar with discussions.

Japan’s second- and third-largest automakers by sales after Toyota Motor had been in talks to create a $60 billion firm after a lack of hybrid models in the U.S. and competition from local rivals in China had sent Nissan’s earnings diving. Continue reading “Honda ready to revive takeover talks if Nissan CEO Uchida leaves, FT reports”

PARIS, (Reuters) – French automaker Renault and China’s Zhejiang Geely Holding (GEELY.UL) said in a joint statement on Monday that they have reached an agreement to produce and sell zero- and low-emission vehicles in Brazil.

Renault said “Renault do Brasil” would welcome Zhejiang Geely as a new partner, and that joining the venture will enable the Chinese company access to the Renault Group’s Ayrton Senna Industrial Complex in Sao Jose dos Pinhais, located in the southern state of Parana. Continue reading “Renault, Zhejiang Geely to produce low-emission vehicles in Brazil”

FRANKFURT, (Reuters) – German carmaker Volkswagen has issued internal targets to improve the profit margin for sales from its VW car business to 6.5%, up from about 2% previously reported, news website Business Insider said, citing documents it obtained.

While the margin target has no specific deadline, it is part of a set of goals for 2025 to improve costs and performance at the group’s core car brand, the report added. Continue reading “Volkswagen sets internal VW brand margin target of 6.5%, says Business Insider”

DETROIT, (Reuters) – General Motors is closing a plant this month in the northeastern Chinese city of Shenyang as part of the U.S. automaker’s restructuring in China, according to a company source.

The plant makes Buick GL8 minivans and the Chevrolet Tracker SUV for the China market. The source who confirmed the plant closure spoke on condition of anonymity. Continue reading “GM closing plant in China as part of restructuring”

Summary

• Early April eyed for auto tariffs
• No details yet provided
• Trade group: Autos meeting USMCA specifications should not face added tariffs

NEW YORK, (Reuters) – President Donald Trump on Friday kept alive his drumbeat of tariff threats, saying levies on automobiles would be coming as soon as April 2, the day after members of his cabinet are due to deliver reports to him outlining options for a range of import duties as he seeks to reshape global trade. Continue reading “Trump keeps tariffs drumbeat going, with autos targeted next”

Summary

• Chinese producers rush to diversify away from the U.S.
• Goods made in China to flood Europe, emerging markets-analysts
• Trend could lead to price wars abroad, economic pain at home
• Policies to support domestic demand all the more important

BEIJING/HONG KONG, (Reuters) – Jeremy Fang, a sales officer at a Chinese aluminium products maker, is trying to export more to markets in Asia, Africa and Latin America to offset the U.S. tariffs’ impact. The problem, he says, is that his competitors have the same idea. Continue reading “Chinese exporters brace for ‘rat race’ in shift away from US”

Summary

• Rise in shares reflects relief that changes only under study
• Tariffs could target all countries with duties on US imports
• Analysts say structuring reciprocal tariffs would be challenging
• Tariffs may escalate global trade tensions and inflation

WASHINGTON, (Reuters) – U.S. President Donald Trump has tasked his economics team with devising plans for reciprocal tariffs on every country that taxes U.S. imports, raising the risk of a global trade war with American friends and foes. Continue reading “Trump threatens new tariffs in bid to reshape trade”

(Reuters) – A crash involving a Tesla Cybertruck in self-driving mode this week has sparked worries about the reliability of the company’s software that powers the feature, days after CEO Elon Musk said he would roll out a paid robotaxi service this year.

The pickup, the latest model in Tesla’s lineup, failed to merge out of a lane that was ending, hit the curb and crashed into a pole in Nevada’s Reno city while on its Full Self-Driving feature, which still requires a human in control behind the wheel. Continue reading “Cybertruck crash raises alarm bells about Tesla’s self-driving software”

Summary

• BYD opens Brazil mining subsidiary, buys rights in two plots in 2023
• Plots next to Atlas Lithium project, half a day from new BYD factory
• Subsidiary in the research phase, with no operating revenues
• Brazil lithium sector draws interest from U.S. and Saudis

RIO DE JANEIRO, (Reuters) – Chinese electric carmaker BYD acquired mineral rights for two plots of land in a lithium-rich part of Brazil in 2023, entering the mining business in its biggest market outside of China, according to public records reviewed by Reuters. Continue reading “Exclusive: China’s BYD holds mining rights in Brazil’s Lithium Valley, documents show”

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Compressed biogas offers a sustainable solution to Delhi’s pollution crisis: Report WAF Continue reading “WAF Auto News | The Auto World This Week (14th February 2025)”

MG SELECT has announced the appointment of 12 dealer partners across the country as it sets out to redefine the luxury automotive retail experience in India. The newly appointed dealers will manage 14 MG SELECT Experience Centres in 13 cities during the first phase of expansion, introducing customers to a blend of sustainability, innovation, and craftsmanship under the banner of ‘accessible luxury.’

The 12 selected dealers are recognised for their expertise in the automotive and luxury sectors, a strong reputation for customer service, and a commitment to excellence. Their participation aligns with MG SELECT’s vision to elevate the luxury automotive experience in India. These partners will operate in cities including Mumbai, Delhi, Bengaluru, Hyderabad, Pune, Chennai, Ahmedabad, Kolkata, Kochi, Chandigarh, and Surat. Continue reading “MG SELECT Appoints 12 Dealer Partners For Luxury Automotive Retail”

Source : PTI | New Delhi: To ensure a smooth transition without compromising energy security, India is strategically investing in diverse energy sources, including scaling up biofuel production, increasing its gas share from 6% to 15%, and targeting 5 million metric tonnes of hydrogen production by 2030, said the Union Minister of Petroleum and Natural GasHardeep Singh Puri on Tuesday.

However, he noted that while renewables are set to become the dominant energy resources, oil and gas will still play a vital role. Continue reading “Renewables to dominate, but oil and gas remain vital, says Hardeep S Puri”

Source : PTI | Carmakers and local authorities in India are embroiled in USD 6 billion worth of tax disputes spanning years of scrutiny by the income tax, customs and excise departments.

Here are some of the biggest of those disputes, based on a Reuters analysis of the companies’ latest financial disclosures. Continue reading “Which carmakers in India are embroiled in USD 6 billion of tax disputes?”

Source : PTI | Hinduja Group flagship, Ashok Leyland, which reported a 33% growth in exports for Q3 FY25 at 4,151 units said the exports demand was mainly driven by international markets such as SAARC (South Asian Association for Regional Cooperation), Africa, and GCC (Gulf Cooperation Council).

“Our export business is driven by our continued focus on export-specific products and our strong local presence in the GCC, SAARC, and African markets,” said Shenu Agarwal, Managing Director & CEO of Ashok Leyland. The GCC comprises approximately 30% of the company’s exports. Continue reading “Ashok Leyland records strong export growth driven by SAARC, GCC, African markets”

YOKOHAMA, Japan, (Reuters) – Japan’s Nissan posted a 78% fall in third-quarter operating profit to 31.1 billion yen ($201.84 million) on Thursday, missing analysts’ estimates, and cut its annual outlook for the third time.

The result compared with an average estimate of 63.2 billion yen in a poll of eight analysts by LSEG and a 141.6 billion yen profit in the same period a year earlier. Continue reading “Nissan posts 78% Q3 profit drop, cuts annual forecast for third time”

BANGKOK,(Reuters) – Mazda Motor Corp plans to invest 5 billion baht ($150 million) in Thailand to produce electric compact sport utility vehicles, Thailand’s Board of Investment said on Thursday.

The “investment is to support domestic sales and exports to Japan and other countries, such as ASEAN (Southeast Asian) countries, targeting a production of 100,000 units per year,” the investment board said, quoting Mazda President Moro Masahiro. Continue reading “Japan’s Mazda plans $150 million investment in Thailand EV production”

TOKYO, (Reuters) – Japan’s Honda Motor said on Thursday its third-quarter operating profit increased 5% from a year earlier, largely due to a strong performance of its motorcycle business and a weak yen, but missed analysts’ estimates.

Honda also said in a joint statement with smaller rival Nissan that the companies had agreed to end merger talks but would continue to cooperate in electric vehicles. Continue reading “Japan’s Honda posts 5% rise in Q3 profit”

Summary

• A merger would have created the world’s No. 4 auto group
• Honda had wanted to make Nissan a subsidiary, sources say
• Foxconn says it is open to taking a stake in Nissan

YOKOHAMA, Japan, (Reuters) – Nissan and Honda ended talks to merge and create a $60 billion carmaker on Thursday, pitching Nissan into deeper uncertainty and underlining the difficulties faced by many auto manufacturers as Chinese rivals disrupt the industry. Continue reading “Nissan and Honda ditch $60 billion merger talks and face new uncertainty”

Production: The total production of Passenger Vehicles, Three Wheelers, Two Wheelers, and Quadricycle in January 2025 was 25,46,643 units

Domestic Sales:

• Passenger Vehicles sales were 3,99,386 units in January 2025.
• Three-wheeler sales were 58,167 units in January 2025.
• Two-wheeler sales were 15,26,218 units in January 2025.

Continue reading “India Automobile Performance – January 2025”

LONDON, (Reuters) – Two European startups said on Thursday they had hit milestones in recycling electric vehicle battery materials that will be needed to meet European regulations, reduce China’s dominance of the entire battery supply chain and lower CO2 emissions.

Starting in August 2030, European automakers’ EV batteries must include a minimum of 6% each of recycled lithium and nickel, and 16% of cobalt, rising five years later. This has spurred a race to challenge China’s lead in battery recycling. Continue reading “European EV battery material startups make recycling breakthroughs”

WASHINGTON, (Reuters) – Ford Motor CEO Jim Farley met with U.S. lawmakers on Wednesday after raising concerns this week that 25% tariffs on Mexico and Canada would “blow a hole” in the U.S. auto industry.

Farley met with Senators Roger Marshall, Elissa Slotkin, Deb Fischer and many House of Representatives lawmakers after warning this week that tariffs President Donald Trump might impose could be devastating and benefit rival foreign automakers. Continue reading “Ford CEO holds meetings with lawmakers after raising concerns about tariffs”

BOSTON, (Reuters) – A federal judge on Tuesday rejected a challenge by a group representing automakers to a Massachusetts voter-approved measure that expanded access to vehicle data and allowed independent shops to repair increasingly sophisticated automotive technology.

The ruling by U.S. District Judge Denise Casper in Boston marked a defeat for the Alliance for Automotive Innovation, a trade association representing General Motors, Volkswagen, Stellantis , and other automakers that challenged the law. Continue reading “Massachusetts voter-approved vehicle data access measure survives court challenge”

Summary

• India’s import tax tussles revive calls for amnesty scheme
• India’s record tax demand of $1.4 billion from VW alarms firms
• Arrears of service tax, excise, customs at $52.5 billion
• About 70% of tax arrears stuck in litigation, govt data shows

NEW DELHI, (Reuters) – India’s demand for back taxes running into a record $1.4 billion from Volkswagen, after 12 years of scrutiny, is reigniting concerns that lengthy investigations and litigation could sour the plans of foreign firms in the fastest-growing major economy. Continue reading “Volkswagen’s $1.4 billion India tax tussle rekindles foreign investor fears”

NEW TAIPEI, Taiwan, (Reuters) – The chairman of Taiwan’s Foxconn said on Wednesday that the company’s aim is cooperation with Nissan, not acquisition, as the Japanese automaker’s future hangs in the balance after stepping back from merger talks with Honda.

Struggling Nissan is again at a crossroads after sources said last week that negotiations with bigger rival Honda to create the world’s No. 4 automaker had been complicated by growing differences. Continue reading “Foxconn says its aim is cooperation with Nissan, not acquisition”

WASHINGTON, (Reuters) – U.S. Senate Republicans on Wednesday proposed a pair of bills to kill the country’s $7,500 electric vehicle tax credit and impose a new $1,000 tax on EVs to pay for road repairs.

Senator John Barrasso, joined by 14 senators including Senate Majority Leader John Thune introduced legislation to repeal the tax credit for new EVs and kill the $4,000 used EV credit, end the federal investment tax credit for EV charging stations and end credits for leased EVs. The credits would end 30 days after the bill was signed into law. Continue reading “Senators propose killing US EV tax credit, new $1,000 tax for road repairs”

Source : PTI | New Delhi: TVS Motor Company on Wednesday said it will invest INR 2,000 crore in Karnataka over the next five years with plans to set up a capability centre and expand production. As part of the agreement inked with the Karnataka government, the company said it will set up a global capability centre, expand its production and engineering capabilities in Mysuru, build a test track and set up a new company office infrastructure in the state.

TVS Motor Company Managing Director Sudarshan Venu outlined the company’s plan at the Global Investors Meet (GIM), Invest Karnataka 2025.

Continue reading “TVS Motor to invest INR 2,000 cr in Karnataka over next 5 years”

BOSTON, (Reuters) – A federal judge on Tuesday rejected a challenge by a group representing automakers to a Massachusetts voter-approved measure that expanded access to vehicle data and allowed independent shops to repair increasingly sophisticated automotive technology.

The ruling by U.S. District Judge Denise Casper in Boston marked a defeat for the Alliance for Automotive Innovation, a trade association representing General Motors, Volkswagen Stellantis , and other automakers that challenged the law. Continue reading “Massachusetts voter-approved vehicle data access measure survives court challenge”

BEIJING, (Reuters) – China’s car sales fell 12% in January from a year earlier, the first decline since September and the biggest drop in almost a year, as automakers braced for intense competition in the world’s largest auto market.

Passenger vehicle sales tend to post big swings in the first two months, due to shifting timings for the Lunar New Year, which began in January this year versus February last year. Continue reading “China’s car sales post biggest drop in almost a year in January”

Summary

• Some firms put off shipments after earlier speeding up orders
• Tariffs add cost and chaos, says Ford CEO
• Coca-Cola could shift imports to rely more on plastic

DETROIT/MONTREAL/HOUSTON, (Reuters) – Executives across industries reliant on steel and aluminum imports were scrambling to offset the cost of Donald Trump’s move to slap 25% tariffs on those key metals after previous tariff threats from the White House that were later scrapped. Continue reading “Executives plot strategy to deal with ‘cost and chaos’ of Trump tariffs”

(Reuters) – Toyota Motor Corp is recalling 106,061 U.S. vehicles over a brake fluid leak that can reduce braking ability and increase the risk of a crash, the National Highway Traffic Safety Administration said on Tuesday.

The recall affects certain 2024-2025 Tacoma four-wheel drive vehicles. Continue reading “Toyota to recall over 100,000 US vehicles over brake fluid leak, NHTSA says”