Summary

• SpaceX discloses $20 billion in AI infrastructure lease obligations with xAI and Valor Equity Partners
• Links include lease, construction, aircraft-sharing, and security arrangements across Musk-affiliated entities
• SpaceX, Tesla, xAI and X engaged in $650 million in transactions last year

(Reuters) – SpaceX’s IPO filing revealed ​extensive commercial and financial ties among Elon Musk’s companies ranging from Cybertruck purchases and shared private jets to stock ‌investments, showing how deeply intertwined his business empire has become ahead of what could become the largest IPO in history.

While many of the billionaire’s companies have long collaborated, the filing contains previously undisclosed details about how they now form a network bound by commercial agreements, financing obligations and operational ​dependencies spanning AI, transportation, communications and infrastructure. Continue reading “SpaceX reveals Musk company links, from Cybertrucks and jets to stock investments”

(Reuters) – Stellantis and Britain’s Jaguar Land Rover will consider jointly developing vehicles in ​the U.S., the French-Italian automaker said ‌on Wednesday.

The two companies signed a preliminary agreement to explore collaboration opportunities in ​product and technology development. Continue reading “Stellantis, JLR to explore jointly developing vehicles in US”

Summary

• CEO says overcapacity must be addressed
• Works council decries uncertainty for staff
• Local governments open to Chinese partnerships

BERLIN, (Reuters) – Germany’s Volkswagen is not currently in talks with Chinese ​manufacturers regarding overcapacity at its car plants in Europe, although the problem does have to ‌be addressed, CEO Oliver Blume told a general assembly of workers on Wednesday.

The meeting comes amid heightened speculation over the future of Volkswagen’s German factories as falling profits, weak demand and intense competition put Europe’s biggest carmaker under pressure to scale back ​its sprawling network. Continue reading “Volkswagen is not in talks with Chinese, CEO says in bid to calm workers”

Source : PTI | Rajasthan Congress president Govind Singh Dotasra on Tuesday criticised the Centre over rising fuel prices, alleging that people are facing hardship due to inflation and shortage of diesel and petrol.

He alleged that if the situation continued, lockdown-like conditions could emerge in the next 10 to 15 days, as vehicles may stop operating and industries could shut down. Continue reading “People are in great difficulty: Dotasra slams Centre over rising fuel prices”

Source : PTI | The Andhra Pradesh government has rolled out a two-pronged reform push focusing on energy conservation across all the Urban Local Bodies, aimed at making cities cleaner, smarter and energy efficient.

As part of these efforts, the southern state is readying a PPP-based Electric Vehicle (EV) charging infrastructure and shared e – mobility proposals, encompassing e-bikes and e-scooters in major cities, said an official press release on Tuesday. Continue reading “Andhra govt rolls out twin reforms on energy conservation, e-mobility”

Source : PTI | Tata Power on Wednesday said its arm Tata Power EV Charging Solutions has expanded the ultra-fast EV charging network in collaboration with Indian Oil Corporation on the Delhi-Mumbai Expressway.

As part of the collaboration, Tata Power EV Charging Solutions Ltd (TPEVCSL) has established ultra-fast EV charging stations at the 63rd and 69th milestones on the Haryana stretch of the expressway, a statement said.

Continue reading “Tata Power EV arm expands charging network on Delhi-Mumbai Expressway”

Source : PTI | Commercial vehicle drivers’ unions in Delhi are planning to go on a three-day strike from May 21 to 23, demanding a hike in taxi and auto fares in view of the increasing fuel prices.

The All India Motor Transport Congress on Monday wrote to Delhi Lieutenant Governor Taranjit Singh Sandhu and Chief Minister Rekha Gupta, raising their demands.

Continue reading “Delhi taxi drivers’ unions to go on 3-day strike from May 21 demanding fare hike”

Source : PTI | Crude oil prices rose on Tuesday, with futures hitting a record high of ₹10,044 per barrel during trade amid disruptions in global energy supplies triggered by the lingering West Asia crisis.

On the Multi Commodity Exchange (MCX), crude oil for June delivery surged ₹43, or 0.43 per cent, to trade at ₹9,967 per barrel in 8,508 lots.

Continue reading “Crude oil futures hit record high of ₹10,044 per barrel”

Source : PTI | Shares of oil marketing companies (OMCs), including HPCL, ended higher on Tuesday after petrol and diesel prices were raised by about 90 paise per litre—the second increase in less than a week.

The stock of Hindustan Petroleum Corporation Ltd climbed 3.27 per cent, Indian Oil Corporation edged higher by 2.39 per cent, and Bharat Petroleum Corporation Ltd went up by 2.03 per cent on the BSE. Continue reading “Oil marketing companies end higher; HPCL climbs over 3%”

Summary

• E-Cars are small, low-cost EVs for European market
• Production set to start in 2028 in Pomigliano, Italy
• Price tag of around 15,000 euros, source says
• Group aims to boost demand and plant utilisation

MILAN, (Reuters) – Stellantis plans to launch a new small, low-cost category of fully electric vehicles in an ‌effort to revive Europe’s shrinking entry-level car segment and ailing manufacturing sector.

The Fiat, Opel and Citroen owner said production of the affordable, compact and fully electric “E-Car” will start in 2028 at its Pomigliano d’Arco plant in Italy, with potential for “significant” volumes. Continue reading “Stellantis plans $17,500 small EV to revive European market”

Summary

• New long-term business plan due on May 21
• Plan to target sales recovery, especially in U.S.
• Plan to have “a lot of China in it”, source says
• More Chinese partnerships expected on top of Leapmotor
• To review investment strategy on its 14 brands

MILAN, (Reuters) – Stellantis’ CEO Antonio Filosa will outline ​a new long-term strategy to investors on Thursday with a focus on reviving crucial U.S. sales, tightening the group’s sprawling portfolio, ‌and leveraging tie-ups with Chinese firms.

The presentation at the Fiat-to-Jeep owner’s capital markets day, in Auburn Hills, Michigan, is a crunch point for Filosa who was brought in last year to turn around the carmaker’s flagging fortunes after it lost ground in the U.S. and Europe. Its shares hit an all-time low in March this year. Continue reading “Stellantis to push US revival, brands and Chinese deals in high-stakes pitch to investors”

EXICO CITY, (Reuters) – General Motors said on ‌Tuesday it would start assembling the Chevrolet Groove and Aveo in Mexico for sale in the local market, although the ​company will continue to produce the car parts ​in China.

The Detroit automaker has been exporting those vehicles ⁠and others to Mexico from China, where its ​sales have declined in recent years. The project, ​part of GM’s previously announced $1 billion investment in the country, was made at an event with Mexico President Claudia Sheinbaum. Continue reading “GM to start assembling Chevrolet Groove and Aveo in Mexico, in shift away from China”

Summary

• Building Voyah EVs in France would help Dongfeng avoid EU tariffs on Chinese-made vehicles
• Chinese automakers seek European production to boost overseas sales amid fierce competition at home
• Stellantis CEO to speak to investors on Thursday

PARIS, (Reuters) – Stellantis is due to announce a joint venture with Dongfeng and a deal to build at ‌least one fully electric Voyah brand vehicle for the state-owned Chinese carmaker at the Franco-Italian company’s factory in Rennes, France, two sources familiar with the matter told Reuters.

The joint venture will be 51% owned by Stellantis, according to a letter of intent signed by the two companies, one ​of the sources said. The deal could be announced as early as Wednesday morning, the two sources added. Continue reading “Exclusive: Stellantis to build Voyah brand EV for China’s Dongfeng in French plant, sources say”

Summary

• Compass, EnergyX sign agreement on Utah lithium project
• Compass had suspended lithium unit in 2023 over regulation
• Lithium prices have gained 75% so far this year
• EnergyX plans to invest $400 million, Compass to provide brine

(Reuters) – Compass Minerals plans to return to the lithium market by partnering ​with technology startup EnergyX to extract the mineral from Utah’s Great Salt Lake, a move that comes as prices for the ‌battery metal rise alongside the broader drive to boost U.S. output.

The companies said they have signed a memorandum of understanding under which EnergyX will invest more than $400 million and use its direct lithium extraction (DLE) technology to filter the metal from the hypersaline lake, which is estimated to contain more than 2.4 million metric tons of lithium. Continue reading “Exclusive: Compass plans lithium market return with EnergyX in Utah’s Great Salt Lake”

Summary

• All six major automakers improved supplier relations
• Landmark represents a first in Plante Moran survey history
• Toyota leads in supplier trust in survey
• Ford, Stellantis show biggest gains but face skepticism
• Suppliers wary improvements ​may not be sustained

DETROIT, (Reuters) – Global automakers improved their relationships with ‌suppliers over the past year, a prominent industry survey found, despite challenges related to tariffs, electric vehicle program writedowns and policy swings.

Ford, GM, Toyota, Stellantis, Honda and Nissan all improved their standing with suppliers on Plante Moran’s ​Working Relations Index, a first in the annual study’s 26-year history. Continue reading “Automakers achieve supplier relations milestone during bumpy year”

Summary

• Denza’s revamped flagship SUV has a 5% higher starting price
• New N9 features longer battery range, fast-charging capability
• BYD bets on Denza to grow its high-margin export strategy

Guangzhou, (Reuters) – BYD on ​Monday launched an upgraded version of its flagship SUV under the Denza ‌brand at a 5% higher starting price as China’s largest electric vehicle maker shifts away from its low-cost image and enhances profitability.

Li Hui, general manager of the Denza brand, said during an event attended ​by car owners and social media influencers in Guangzhou that the revamped model offers ​over 100 upgrades, including extended battery range and a fast-charging capability that ⁠BYD had previously described as setting “an industry benchmark.” Continue reading “BYD unveils upgraded flagship Denza SUV to bolster premium market push”

BEIJING, (Reuters) – Chinese electric ​vehicle maker Xpeng said on ‌Monday it had begun mass production of its first robotaxi at ​its Guangzhou headquarters, targeting ​fully driverless operations by early ⁠2027.

The Tesla rival is ​accelerating its shift toward driverless vehicles ​and humanoid robotics as competition intensifies in the world’s largest auto ​market. Continue reading “China’s Xpeng begins mass production of robotaxis in Guangzhou”

HELSINKI/WASHINGTON, (Reuters) – Truckmaker Volvo Group on Monday agreed to a $197 million settlement with the California Air ​Resources Board over alleged violations of the state’s heavy-duty ‌engine regulations.

The settlement resolves allegations that Volvo failed to properly disclose auxiliary emission control devices in over 10,000 of its ​2010-2016 model year heavy-duty engines in California that ​resulted in emissions in excess of regulatory limits, ⁠CARB said. Continue reading “Volvo Group agrees to $197 million settlement with California over excess truck emissions”

TEL AVIV, (Reuters) – Tesla chief Elon Musk said on Monday he expects fully self-driving cars without human safety monitors to become more widespread in the United States later this year, after already being introduced in Texas.

Speaking ​by video link to the Smart Mobility Summit in Tel Aviv, Musk said there ‌were self-driving cars operating in Texas without safety monitors and that would expand nationwide this year. Continue reading “Tesla’s Musk expects widespread use in US of cars without human monitors this year”

RIO DE JANEIRO, (Reuters) – Volkswagen is concerned ​about declining resale values of its vehicles as ‌lower-priced Chinese competitors expand in the Brazilian market, the company’s head in Brazil, Ciro Possobom, told Reuters on Monday.

“While new entrants ​are entering aggressively and putting downward pressure on ​prices, we believe we are well positioned,” Possobom ⁠said, adding that the company will not engage ​in a price war with Chinese competitors. Continue reading “Volkswagen flags Chinese competition in Brazil, sees limited Iran impact”

WASHINGTON,  (Reuters) – U.S. House lawmakers proposed bipartisan legislation that would require electric vehicles to ​pay a $130 fee to pay for road repairs annually and $35 for some ‌plug-in hybrid models.

The House is working on a five-year highway reauthorization bill that would authorize $580 billion ahead of the current law expiration on September 30. Most revenue for federally funded road repairs ​is collected through diesel and gasoline taxes, which EVs do not pay. Continue reading “US House lawmakers propose $130 annual EV fee to pay for road repairs”

Source : PTI | India and other oil importing nations are likely to negotiate bilaterally to secure energy supplies, potentially through coordinated transit corridors, but a return to pre-war traffic volumes is unlikely in 2026, Moody’s Ratings has said.

In a global report on geopolitical risks, Moody’s said there is little prospect of a swift and durable settlement between the US and Iran and with it the full reopening of the Strait of Hormuz. Continue reading “India, other oil importers to bilaterally negotiate transit corridors with Iran: Moody’s”

Source : PTI | The residents of Parbhani in Maharashtra on Sunday observed ‘No Vehicle Day’ in response to Prime Minister Narendra Modi’s austerity appeal amid the West Asia crisis, the district administration said.

Amid the war involving the US, Israel and Iran, Modi has suggested reducing petrol and diesel consumption, using metro rail services in cities, carpooling, increased use of EVs, utilising railway services for parcel movement and working from home to conserve foreign exchange. Continue reading “In response to Modi’s austerity appeal, Parbhani observes ‘No Vehicle Day’”

Source : PTI | The Sikkim government on Monday rolled out the implementation of the odd-even vehicle restriction norm across the state to save fuel, and strengthened public transport to minimise inconvenience to commuters, an official said.

The implementation came after Prime Minister Narendra Modi appealed to people to reduce fuel consumption and spend more wisely in view of the West Asia crisis. Continue reading “Sikkim govt rolls out odd-even vehicle restriction norm to save fuel”

PTI | The NDMC on Friday flagged off a free bus shuttle service for its employees and issued a formal order of 50 per cent concession in parking charges only for EVs for the general public at all its parking sites from May 18.

The shuttle bus services will be available from four residential areas – Palika Awas, Sarojini Nagar; Palika Gram, Laxmibai Nagar; Amrit Kaal Niwas, Jor Bagh Road; and Bapu Dham Flats, Chanakyapuri, an official statement said. Continue reading “NDMC announces free shuttle service for employees, 50% concession in EV parking for public”

PTI |The West Bengal government gave in-principle approval for handing over seven stretches of national highways to the NHAI and the NHIDCL, paving the way for long-pending infrastructure works on key road corridors in the state.

These stretches were under the national highway wing of the state’s Public Works Department (PWD), and the handover proposals had been pending for nearly a year despite repeated requests from the Union Ministry of Road Transport and Highways, according to an official statement. Continue reading “Bengal govt gives nod for handover of seven national highway stretches to NHAI, NHIDCL”

PTI | Two-wheeler market leader Hero MotoCorp has earmarked ₹1,500 crore capex for FY27 to double its scooter production capacity, according to its CEO Harshavardhan Chitale.

The company has also committed over ₹700 crore of investment in building a global parts centre in South of India, he told analysts.

“We are investing in capacity expansion, and we have committed over ₹1,500 crore of capex in FY27. And this capex is going to expand our capacity in scooters, where for some of our models that are doing very well, we are doubling our capacity,” Chitale said. Continue reading “Hero MotoCorp lines up ₹1,500 cr capex for FY27 to double scooter production capacity”

PTI | As India battles soaring energy import costs and a weakening rupee amid global oil turmoil, a Monaco-based fuel technology company says it may have found an answer hiding in plain sight: water.

FOWE Eco Solutions, through its patented Cavitech fuel emulsion technology, claims industries can slash fuel consumption by up to 10 per cent, reduce harmful emissions dramatically, and improve equipment performance—all without modifying engines or shutting plants down. Continue reading “India’s ₹1.7 lakh crore fuel crisis may have found an unlikely fix – water”

PTI | India and other oil importing nations are likely to negotiate bilaterally to secure energy supplies, potentially through coordinated transit corridors, but a return to pre-war traffic volumes is unlikely in 2026,Moody’s Ratings has said.

In a global report on geopolitical risks, Moody’s said there is little prospect of a swift and durable settlement between the US and Iran and with it the full reopening of the Strait of Hormuz. Continue reading “India, other oil importers to bilaterally negotiate transit corridors with Iran: Moody’s”

PTI | The Sikkim government on Monday rolled out the implementation of the odd-even vehicle restriction norm across the state to save fuel, and strengthened public transport to minimise inconvenience to commuters, an official said.

The implementation came after Prime Minister Narendra Modi appealed to people to reduce fuel consumption and spend more wisely in view of the West Asia crisis.

According to a notification issued by the state transport department, the new arrangement would come into effect from May 18. Continue reading “Sikkim govt rolls out odd-even vehicle restriction norm to save fuel”

Summary

• Volkswagen under pressure to cut costs, address overcapacity
• Works council, IG Metall open to solutions but stress plant commitments
• Proposed solutions include partnerships in defence or with Chinese

BERLIN, (Reuters) – Top labour representatives at Volkswagen said they would not allow plants ‌to be closed, while remaining open to proposals to secure the future of under-used production sites in Germany, according to a joint statement to Reuters on Friday.

Volkswagen is looking to cut excess capacity in its German production network without resorting to factory closures – something ruled out under a 2024 restructuring deal with unions – with defence partnerships and Chinese collaboration floated as possible ⁠options. Continue reading “Volkswagen labour leaders stand by ‘red line’ on plant closures”

SYDNEY, (Reuters) – A judge hearing an Australian class action lawsuit against Tesla (TSLA.O), on Friday questioned whether the Elon Musk-led automaker was taking the discovery process seriously and warned it could expect “a really bad time” if it ‌failed to cooperate.

Federal Court judge Tom Thawley gave the warning after a lawyer representing 10,000 Australian Tesla drivers complained that the U.S.-listed car company had produced just 2,000 documents after an eight-month discovery process. Continue reading “Australian judge criticises Tesla for ‘gobsmacking’ slow progress in class action lawsuit”

Summary

• All six major automakers improved supplier relations
• Landmark represents a first in Plante Moran survey history
• Toyota leads in supplier trust in survey
• Ford, Stellantis show biggest gains but face skepticism
• Suppliers wary improvements may not be sustained

DETROIT, (Reuters) – Global automakers improved their relationships with ‌suppliers over the past year, a prominent industry survey found, despite challenges related to tariffs, electric vehicle program writedowns and policy swings.

Ford (F.N), GM (GM.N), Toyota (7203.T), Stellantis (STLAM.MI), Honda (7267.T) and Nissan (7201.T), all improved their standing with suppliers on Plante Moran’s Working Relations Index, a first in the annual study’s 26-year history. Continue reading “Automakers achieve supplier relations milestone during bumpy year”

(Reuters) – Tesla (TSLA.O), raised the prices of its Model Y cars in the United States ‌on Saturday, according to its website.

The company increased the price of its Model Y premium all-wheel drive and Model Y premium rear-wheel ⁠drive by $1,000 to $49,990 and $45,990 respectively.

The company also raised the price of its Model Y Performance all-wheel drive to $57,990 in the United States, up $500 from earlier, the website showed. Continue reading “Tesla raises prices of Model Y cars in the US for the first time in two years”

BEIJING, (Reuters) – Chinese electric vehicle maker Xpeng (9868.HK), said on ‌Monday it had begun mass production of its first robotaxi at its Guangzhou headquarters, targeting fully driverless operations by early ⁠2027.

The Tesla (TSLA.O), rival is accelerating its shift toward driverless vehicles and humanoid robotics as competition intensifies in the world’s largest auto market. Continue reading “China’s Xpeng begins mass production of robotaxis in Guangzhou”

(Reuters) – Ford Motor’s (F.N),  energy unit said on Monday it has signed a five-year deal to supply up to 20 gigawatt-hours of storage capacity ‌to renewable power developer EDF.

Under the deal, EDF can procure up to 4 GWh of DC Block battery energy storage systems (BESS) annually from the carmaker’s unit, Ford Energy.

Ford Motor’s shares were up about 3.6% in premarket trading. Continue reading “Ford unit signs five-year energy storage deal with EDF”

Summary

• Ford criticises European push for EVs
• New models include a small electric SUV and a small EV
• Chinese automakers have rapidly expanded in Europe

LONDON, (Reuters) – Ford (F.N), will launch seven new ‌models in Europe by 2029, it said on Monday, as it seeks to grow its flagging passenger car sales, fight off fierce competition from Chinese rivals and maintain an edge in the continent’s commercial vehicle market.

“Our plan is to actually grow our market share… in a marketplace that is almost fracturing in terms of the number of competitors,” Jim Baumbick, Ford’s European ⁠president, told Reuters. “We need to stand out in a crowd.” Continue reading “Ford set to launch seven European models as it seeks to grow sales and fend off China”

TEL AVIV, (Reuters) – Tesla chief Elon Musk said on Monday he expects fully self-driving cars without human safety monitors to become more widespread in the United States later this year, after already being introduced in Texas.

Speaking by video link to the Smart Mobility Summit in Tel Aviv, Musk said there ‌were self-driving cars operating in Texas without safety monitors and that would expand nationwide this year. Continue reading “Tesla’s Musk expects widespread use in US of cars without human monitors this year”

Source : PTI | India’s electric vehicle (EV) battery demand is projected to grow 10 times from 20 GWh in 2025 to 200 GWh by 2032, industry body Indian Energy Alliance (IESA) said on Thursday.

Citing a study, IESA said the EV opportunity in is no longer limited to vehicle manufacturing; the largest strategic gains may lie in component localisation and supply chain development as India positions itself as a global manufacturing hub. Continue reading “India’s EV battery demand to grow 10 times to 200 GWh by 2032: IESA”