Source : PTI | KPIT Technologies on Tuesday said it expects the financial performance for Q1 FY27 to be lower-than-expected previously, owing to a sudden drop in revenues over the last few weeks.

It warned of an expected decline of about one per cent in USD-reported revenues for Q1 FY27 as compared to Q1 FY26, primarily due to “sudden actions by some European OEMs triggered by their recent profit warnings and adverse business outlook”.

Continue reading “KPIT Tech warns of lower-than-expected Q1 FY27 financial performance”

Source : PTI | India imported 4.93 million barrels per day (bpd) of crude oil in June, the highest volume for the month on record, despite geopolitical tensions in West Asia, according to data and analysis from energy intelligence firm Kpler.

Russian crude imports rose to around 2.6 million bpd during the month, reinforcing Russia’s position as India’s largest oil supplier, Kpler analyst Sumit Ritolia said. Continue reading “India imported record crude volumes in June despite West Asia tensions”

Bangalore, July 2026: Toyota Kirloskar Motor (TKM) today announced its sales performance for the month of June 2026 with 31,016 units, reflecting a growth of 7% compared to 28,869 units sold in June 2025. This includes 28,441 units sold in the domestic market and 2,575 units exported.

Continue reading “Toyota Kirloskar Motor Registers 31,016 Units Sales in June 2026”

New Delhi, June 2026: Maruti Suzuki India Limited (“Maruti Suzuki”) has onboarded five startups: MiniMines, Easework AI, Sarvam AI, Siftly and CodeMate AI to co-create solutions across multiple business areas to enhance operational efficiency and elevate customer experience.

The selected startups are winners of the 5th cohort of the Maruti Suzuki Incubation Program (MSIP). MSIP is organized in partnership with IIM Bangalore’s incubation hub for entrepreneurship and startup support, NSRCEL (Nadathur S. Raghavan Centre for Entrepreneurial Learning). Continue reading “Maruti Suzuki collaborates with 5 startups”

Source : PTI | Under the new electric vehicle (EV) policy, the Delhi government aims to reduce air pollution from commercial vehicles by offering special incentives for both small and large trucks.

According to officials, a government study from 2018 found that 33 per cent of the vehicular pollution is from commercial goods carriers.

Continue reading “Delhi’s new EV policy envisions ‘truck revolution’, infrastructure problems remain”

Source : PTI | New Delhi: Delhi’s electric mobility transition is increasingly being driven by two-wheelers, with electric scooters and motorcycles accounting for nearly four in every 10 electric vehicles registered in the city.

According to Envirocatalysts, a research and advisory think tank, the city had 4.30 lakh registered electric vehicles till this year, of which nearly 1.70 lakh, or almost 40 per cent, were electric two-wheelers.

Continue reading “Nearly 4 in 10 Delhi EVs are two-wheelers, data shows; experts back EV adoption”

Source : PTI | Schools in the national capital on Monday said they will begin planning a phased transition of their bus fleets to electric vehicles in line with the Delhi government’s EV Policy 2026.

Welcoming the policy, some schools are preparing to ask transport contractors to induct EV buses, while others are assessing operational requirements before switching. Continue reading “Delhi schools plan phased shift to electric buses under EV Policy”

Source : PTI | Pune-based Force Motors on Tuesday said it has signed an initial pact with the Ministry of Road Transport & Highways (MoRTH) to participate in the central government’s commercial vehicle replacement schemeDelhi-NCR.

As a participant, the company will support the implementation of the scheme through its authorised dealership network in Delhi-NCR and extend the prescribed Original Equipment Manufacturer (OEM) benefits to eligible customers in accordance with the scheme guidelines, Force Motors said. Continue reading “Force Motors joins Centre’s commercial vehicle replacement scheme for Delhi-NCR”

Source : PTI | Chauffeured car rental and mobility solutions provider Mann Fleet Partners has filed draft papers with markets regulator Sebi to garner funds through an Initial Public Offering (IPO).

The proposed IPO comprises a fresh issue of 60.12 lakh equity shares and an Offer-For-Sale (OFS) of up to 19.10 lakh equity shares by promoters and individual shareholders, according to the draft red herring prospectus (DRHP) filed on Monday. Continue reading “Mann Fleet Partners files IPO papers with Sebi”

Summary

• Swiss seeking trade deal with US after initial November accord
• Announcement comes as Swiss president travels to US
• Steps should streamline access for US products

ZURICH, (Reuters) – Switzerland plans further steps to ‌underpin commitments made in a preliminary U.S. tariff deal last year, including streamlining recognition of American standards for cars and medical devices, the government said late on Monday.

As it seeks ​to formalise a trade agreement with Washington, Switzerland’s governing Federal Council said ​the measures also included facilitating recognition for U.S. conformity assessment bodies ⁠and government procurement. Continue reading “Swiss to ease recognition of US standards for cars, medical devices as trade deal sought”

(Reuters) – Tesla is expected to report a 5% rise in vehicle deliveries on Thursday for the second quarter.

The gain is likely ​to stem from higher demand in Europe, where a sharp ‌jump in fuel prices has pushed consumers to choose battery-powered cars.

While demand in China is expected to be stable, U.S. sales are still pressured by ​the expiry of the $7,500 Biden-era federal EV tax credit in ​September. Continue reading “Tesla Q2 deliveries expected to rebound as Europe sales recover”

Summary

• China leads substitution push, with government support and EV makers
• Analysts say substitution is gradual, limited by efficiency and emissions
• See Factbox on substitution and companies involved read more

LONDON/SHANGHAI/BEIJING/DETROIT, (Reuters) – Ferrari and BMW are rolling out new models featuring lightweight, cost-effective aluminium wiring, accelerating a shift away from copper, the dominant material in electric wiring since the invention of the electric ​battery two centuries ago.

The decisions follow similar moves by Tesla and Chinese EV makers and reflect a broader industry trend forecast to affect around 2% of global copper demand ‌this year, according to JPMorgan. Continue reading “Ferrari and BMW join Tesla, China in switch from copper to cheaper aluminium”

A cinematic convergence of motorsport heritage and India’s vanguard cultural artistry

• The Ultimate Surrender: The all-new Škoda Kodiaq RS challenges drivers to ‘Surrender’ to a masterclass in driving—fusing 50 years of track-bred RS engineering and 125 years of motorsport dominance with advanced 4×4 capability and apex luxury.
• Engineering Meets Artistry: This landmark collaboration weaponises the raw, all-terrain power of the Kodiaq RS alongside the progressive sitar strings of Rishab Rikhiram Sharma, delivering an unforgettable sensory duet of machine, melody, and terrain.

India,  June 2026 – Škoda Auto India has shattered the conventional automotive launch playbook, unveiling an evocative creative collaboration with global sitar virtuoso Rishab Rikhiram Sharma to mark the arrival of the highly anticipated, all-new Kodiaq RS. Debuting at a defining moment for the brand, which celebrates a dual milestone of 125 years in motorsport and over five decades of the iconic RS racing pedigree, the collaboration offers a cinematic experience that seamlessly intertwines precision engineering with the burgeoning popularity of Indian neo-classical music artistry. Continue reading “Rishab Rikhiram Sharma And Škoda Orchestrate A Masterclass In Speed And Strings”

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

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

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

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

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

Summary

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

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

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

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

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

Summary

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

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

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

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

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

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

Summary

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Summary

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

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

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

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

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

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

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

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

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

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

Here are some details:

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

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

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

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

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

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

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

Summary

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

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

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

Summary

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

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

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

Summary

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

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

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