(Reuters) – Alphabet (GOOGL.O), unit Waymo is in talks with potential investors to raise money at a valuation of at least $100 billion, the Information reported on Tuesday, as competition intensifies in the nascent robotaxi market.

The size of the financing round could even possibly exceed $10 billion, and is expected to be arranged early next year, the Information reported, citing people familiar with the ride-hailing service provider’s plans. Continue reading “Waymo in talks to raise billions at over $100 billion valuation, the Information reports”

TOKYO, (Reuters) – Japan’s exports to the U.S. rebounded for the first time in eight months in November, in a sign of easing pain from U.S. tariffs, government data showed on Wednesday, bolstering the case for the central bank to continue raising interest rates.

“Automobile exports seem to be recovering faster than expected, as the reduced U.S. auto tariff rate gave Japanese automakers some price competitiveness, also helped by a weaker yen,” Daiwa Institute of Research economist Koki Akimoto said. Continue reading “Japan’s exports to US post first rebound in 8 months as tariff pain eases”

SAN FRANCISCO, (Reuters) – A California regulator has deferred an order for Tesla (TSLA.O), to suspend sales in its biggest U.S. market, giving the electric vehicle maker more time to address its accusation of misleading marketing and overstating self-driving capabilities.

The Department of Motor Vehicles (DMV) ordered the suspension of Tesla’s manufacturing and sales licenses for 30 days, adopting a judge’s proposals, but immediately put it on hold, DMV Director Steve Gordon told reporters on Tuesday. Continue reading “California regulator puts Tesla sales suspension order on hold”

WASHINGTON, (Reuters) – A group of 16 states and the District of Columbia sued the U.S. government on Tuesday after President Donald Trump’s administration suspended two grant programs for electric vehicle charging infrastructure.

California Attorney General Rob Bonta said Trump’s Department of Transportation has refused to approve any new funding under two electric vehicle charging infrastructure programs created by Congress as part of a $1 trillion infrastructure law in 2022. Continue reading “16 US states sue federal government after Trump suspends EV charging programs”

STRASBOURG, (Reuters) – The European Commission unveiled a plan on Tuesday to drop the EU’s effective ban on new combustion-engine cars from 2035 after pressure from the region’s auto sector, marking the bloc’s biggest retreat from its green policies in recent years.

The move, which still needs approval from EU governments and the European Parliament, would allow continued sales of some non-electric vehicles. Carmakers in regional industrial powerhouse Germany and in Italy had sought easing of the rules. Continue reading “EU drops 2035 combustion engine ban as global EV shift faces reset”

DETROIT, (Reuters) – Ford CEO Jim Farley walked through Ford’s Michigan design studio Monday afternoon, reflecting on how he was about to wipe out thousands of work hours on electric vehicles that he and his team had hoped would revolutionize the American auto industry.

Shortly after, his company announced it would kill several of those battery-powered models and take a $19.5 billion writedown on EV-related assets. It marked the industry’s biggest electric-vehicle retreat since U.S. President Donald Trump’s sweeping auto-policy changes iced already cooling EV demand. Continue reading “Ford’s EV retreat highlights industry dilemma: Build for the US or the world?”

(Reuters) – The U.S. Federal Trade Commission said on Monday that the agency and 21 states, along with the District of Columbia, have filed an amended complaint against ride-hailing app Uber (UBER.N), alleging it engaged in deceptive billing and cancellation practices.

The updated lawsuit, filed in the U.S. District Court for the Northern District of California, claims that Uber charged consumers for subscriptions without consent, failed to deliver promised benefits such as zero-dollar delivery fees and monthly savings, and made it difficult for users to cancel. Continue reading “US FTC, 21 states file amended complaint against Uber over subscription practices”

STRASBOURG, (Reuters) – The European Commission is set to backtrack on the EU’s planned ban on new combustion-engine cars from 2035 by allowing continued sales of some non-electric vehicles following intense pressure from Germany, Italy and Europe’s auto sector.
The EU executive appears to have yielded to the call from carmakers to be allowed to keep selling plug-in hybrids and range extenders that burn CO2-neutral biofuel or synthetic fuel as they struggle to compete against Tesla (TSLA.O), opens new tab and Chinese electric vehicles. Continue reading “EU to yield on combustion engines ban after automaker pressure”

(Reuters) – Elon Musk on Monday became the first person ever worth $600 billion, Forbes said, on the heels of reports that his SpaceX startup was likely to go public at a valuation of $800 billion.
Musk, who was the first to surpass $500 billion in net worth in October, owns an estimated 42% stake in SpaceX, which is preparing to go public next year, Reuters reported last week. Continue reading “Musk’s net worth hits $600 billion, Forbes says, as SpaceX preps for IPO”

(Reuters) – Tesla’s board of directors has earned more than $3 billion through stock awards that far exceeded the value of those given to peers at the biggest U.S. technology firms at the time they were paid, according to an analysis performed for Reuters by compensation and governance specialist Equilar.
The analysis found CEO Elon Musk’s brother Kimbal has earned nearly $1 billion since 2004, based on the appreciated value of stock options held or liquidated. Director Ira Ehrenpreis has collected $869 million since 2007. Board chair Robyn Denholm has made $650 million since 2014. Continue reading “Tesla board made $3 billion via stock awards that dwarfed tech peers”

(Reuters) – Ford Motor (F.N), said on Monday it will take a $19.5 billion writedown and is killing several electric-vehicle models, in the most dramatic example yet of the auto industry’s retreat from battery-powered models in response to the Trump administration’s policies and weakening EV demand.
The Dearborn, Michigan-based company said it will replace the fully electric F-150 Lightning with a new extended-range electric model that uses a gas-powered engine to recharge the battery. The company is also scrapping a next-generation electric truck, codenamed the T3, as well as planned electric commercial vans. Continue reading “Ford retreats from EVs, takes $19.5 billion charge as Trump policies grip industry”

Source : PTI | Ola Electric on Sunday said it has commenced same-day registration and delivery of its 4680 Bharat Cell powered vehicles in Bangalore.

This offering is a part of the company’s umbrella Hyperservice initiative to deliver a transparent, convenient, and customer-first service experience, the Bengaluru-based firm said in a statement. Continue reading “Ola Electric commences Hyperdelivery for its 4680 Bharat Cell-powered vehicles”

(Reuters) – The U.S. National Highway Traffic Safety Administration on Monday opened a probe into the recall of 331,401 Jeep vehicles due to improperly installed rear coil springs.

A rear coil spring helps the vehicle support its weight and absorb road shocks. If installed incorrectly, it may detach while the vehicle is moving and increase the risk of a crash and injury. Continue reading “NHTSA probes Jeep recall over faulty rear coil spring repairs”

(Reuters) – Venezuelan state oil company PDVSA was subject to a cyber attack orchestrated by the U.S. and domestic conspirators, the company and the country’s oil ministry said in a statement on Monday, adding operations have been unaffected, though four sources said systems remained down, affecting oil cargo deliveries.

The attack comes amid high tensions between the U.S. and Venezuelan governments, including a large-scale U.S. military buildup in the southern Caribbean, U.S. strikes on alleged drug trafficking boats which have killed some 80 people, comments from U.S. President Donald Trump that land operations may begin soon in Venezuela and accusations from the Venezuelan government that the U.S. is seeking regime change to take over the country’s vast oil reserves. Continue reading “Venezuela’s PDVSA says it is a victim of cyber attack, blames U.S.”

Summary

• European Commission expected to make announcement on Tuesday
• Ban could be pushed back 5 years or softened indefinitely -sources
• Most significant climb-down on EU green policies of past 5 years
• EV makers say reneging on ban would yield more ground to China

BRUSSELS/LONDON/STOCKHOLM, (Reuters) – The European Commission is expected on Tuesday to reverse the EU’s effective ban on sales of new combustion-engine cars from 2035, bowing to intense pressure from Germany, Italy and European automakers struggling against Chinese and U.S. rivals. Continue reading “EU yields to pressure from automakers as it rethinks 2035 combustion car ban”

MARTORELL, Spain, (Reuters) – The European Commission’s expected decision to reverse its ban on selling new cars with combustion engines from 2035 could help Spanish automaker SEAT, a unit of Volkswagen, transition to electric vehicles, its CEO told Reuters on Friday.

Markus Haupt said that while the company was convinced the future was electric, customer uptake has been slower than expected, forcing SEAT to be more flexible to cater to demand from other markets. Continue reading “SEAT says EU’s rethink on 2035 combustion-engine ban could help EV transition”

RIO DE JANEIRO, (Reuters) – Brazil’s federal government plans to hold the auction of the Santos port’s massive Tecon 10 container terminal in the first half of March, Ports and Airports Minister Silvio Costa Filho said on Friday.

The auction has drawn interest from more than 10 potential bidders, he said, citing Philippines-based ICTSI and Brazilian meatpacking firm JBS and Brazilian logistics firm JSL, as well as unnamed Arab investors. Continue reading “Brazil to auction massive Santos container terminal in early March, minister says”

(Reuters) – Shares of Rivian Automotive surged 18% on Friday as analysts issued bullish commentary on the electric pickup truck and SUV maker’s efforts to develop a custom chip for self-driving features and its integration of artificial intelligence.

The stock had closed about 6% lower on Thursday after the company’s announcements at its first Autonomy and AI Day, where it said it would shift away from Nvidia’s processors that power autonomous driving and had launched a paid package for self-driving features. Continue reading “Rivian shares surge as analysts cheer shift to custom self-driving chip, AI strategy”

Summary

• Hongqi fell out of favour but has gained new younger Chinese fans
• Has retaken crown of favoured brand for Chinese officials from Audi
• Hongqi seeking to expand in Europe, Mexico and the Middle East

SHANGHAI, (Reuters) – Tired of being driven around in Soviet-built sedans in the 1950s, Chinese leader Mao Zedong wanted China, a rising power globally, to have its own state limousine and commissioned a locally produced car.

The brand, Hongqi or Red Flag, became a national champion and ferried high-ranking officials for decades before it fell out of favour as foreign competitors entered the Chinese market and Hongqi’s gas-guzzling engines became untenable. Continue reading “Hongqi, Mao’s national car, rejuvenates its brand and takes aim at overseas markets”

Summary

• Alternative plan for 90% reduction in CO2 emissions
• EU Commission to present plans on December 16
• Automakers have lobbied to drop combustion engine ban
• Electric vehicle boom is behind expectations
• European auto shares rise

HEIDELBERG, Germany, (Reuters) – The European Commission will move to scrap plans for an effective ban on new combustion engine cars from 2035, a senior EU lawmaker said on Friday, in what would be a major victory for Germany which has been pressing to protect its automakers.

Manfred Weber, president of the largest party in the European Parliament, the EPP, suggested in an earlier statement there would be an alternative proposal for a 90% reduction in CO2 emissions for automakers’ fleet targets from 2035. Continue reading “EU to scrap planned ban on combustion engines, EPP’s Weber says”

Source : PTI | A decision of Mexico to increase tariffs will severely hit India’s exports of automobiles, auto components, electronics, metals and chemicals to the South American country, experts say.

For India, the measures affect nearly three-quarters of its $5.75 billion exports to Mexico in FY 2025, fundamentally altering the commercial logic of accessing the Mexican market, they said.

Mexico’s Senate approved the new tariff measure on December 11, 2025, and it has since been cleared by both chambers of Congress. Continue reading “Mexico’s tariffs to hit India’s auto, auto components, metal, electronics exports: Experts”

Summary

• Renault to cut 80 jobs in Mobilize division
• Company shuts down car-sharing services in Milan and Madrid
• Charging network plans scaled back, projects in Belgium and Spain abandoned

(Reuters) – Renault (RENA.PA), is shutting down car‑sharing services and slowing the rollout of fast‑charging stations at its Mobilize unit, which focuses on new transport solutions, as it seeks to funnel investments into more profitable ventures. Continue reading “Renault exits car-sharing, scales back EV charging as it puts profits first in tough market”

RIVOLI, Italy, (Reuters) – Chinese automaker Changan Automobile (000652.SZ), is expanding into Italy and Spain with the launch of two fully electric models, followed next year by their plug-in hybrid versions.

Chongqing-based Changan is part of the second wave of Chinese automakers entering the European market, after forerunners including China’s No. 1 car company BYD (002594.SZ), and the country’s top exporter Chery (9973.HK). Continue reading “China’s Changan Automobile adds Italy and Spain to its European markets”

RIO DE JANEIRO, (Reuters) – Brazil’s federal government plans to hold the auction of Santos port’s massive Tecon 10 container terminal in the first half of March, Ports and Airports Minister Silvio Costa Filho said on Friday.

The auction has drawn interest from more than 10 potential bidders, he said, citing Philippines-based ICTSI and groups including JBS (Z98.F), and JSL (JSLG3.SA), as well as unnamed Arab investors. Continue reading “Brazil to auction massive Santos container terminal in early March, minister says”

MARTORELL, Spain, (Reuters) – The European Commission’s expected decision to reverse its ban on selling new cars with combustion engines from 2035 could help Spanish automaker SEAT, a unit of Volkswagen (VOWG.DE), transition to electric vehicles, its CEO told Reuters on Friday.

Markus Haupt said that while the company was convinced the future was electric, customer uptake has been slower than expected, forcing SEAT to be more flexible to cater to demand from other markets. Continue reading “SEAT says EU’s rethink on 2035 combustion-engine ban could help EV transition”

Summary

• Hongqi fell out of favour but has gained new younger Chinese fans
• Has retaken crown of favoured brand for Chinese officials from Audi
• Hongqi seeking to expand in Europe, Mexico and the Middle East

SHANGHAI, (Reuters) – Tired of being driven around in Soviet-built sedans in the 1950s, Chinese leader Mao Zedong wanted China, a rising power globally, to have its own state limousine and commissioned a locally produced car.

The brand, Hongqi or Red Flag, became a national champion and ferried high-ranking officials for decades before it fell out of favour as foreign competitors entered the Chinese market and Hongqi’s gas-guzzling engines became untenable. Continue reading “Hongqi, Mao’s national car, rejuvenates its brand and takes aim at overseas markets”

Summary

• Alternative plan for 90% reduction in CO2 emissions
• EU Commission to present plans on December 16
• Automakers have lobbied to drop combustion engine ban
• Electric vehicle boom is behind expectations
• European auto shares rise

HEIDELBERG, Germany, (Reuters) – The European Commission will move to scrap plans for an effective ban on new combustion engine cars from 2035, a senior EU lawmaker said on Friday, in what would be a major victory for Germany which has been pressing to protect its automakers. Continue reading “EU to scrap planned ban on combustion engines, EPP’s Weber says”

• ASDC Appoints Prabhu Nagaraj as Vice Chairperson, Rama Shankar Pandey as Treasurer

New Delhi: Automotive Skills Development Council (ASDC), the apex body for skill development in the Indian automotive sector, has announced two major leadership appointments aimed at accelerating India’s skilling readiness in emerging mobility technologies. Mr. Prabhu Nagaraj, Operating Head – Corporate Affairs at Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI), has been appointed Vice Chairperson, while Mr. Rama Shankar Pandey, CEO of Tata Green Batteries and ASDC Governing Council Member, has been appointed Treasurer. Continue reading “ASDC Announces Key Leadership Appointments to Strengthen India’s Automotive Skilling Ecosystem”

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BEIJING, (Reuters) – China’s commerce ministry on Thursday said negotiations with the European Union over a minimum price plan for China-made electric vehicles have restarted and would continue into next week, while urging the bloc not to talk independently with manufacturers.

The 27-member bloc approved duties of up to 45.3% in October 2024 after the European Commission began investigating whether China’s EV makers were benefiting from unfair subsidies that could lead to a supply glut in Europe. Continue reading “China says talks with EU on electric vehicle minimum price plan resumed”

Source : PTI | Flagging vehicular pollution as one of the most significant contributing sectors to the generally poor air quality in Delhi-NCR, the Centre for Air Quality Management (CAQM) on Wednesday urged the Supreme Court to review its August 12 order that ordered no coercive steps be taken against the owners 10-year-old diesel and 15-year-old petrol vehicles in the national capital.

In an over 300-page affidavit filed in a plea seeking measures to curb air pollution, the CAQM said, “Vehicular pollution is one of the most significant contributing sectors to the generally poor air quality in Delhi-NCR (National Capital Region). Abatement of vehicular pollution thus has been one of the main focus areas of the Commission in its deliberations with the NCR State Governments and GNCTD.” Continue reading “Flagging vehicular emission significant to Delhi’s air pollution; CAQM in SC seeks review of order”

Source : PTI | The Maharashtra Transport Commissioner has issued a new set of Standard Operating Procedures (SOPs), in which Regional Transport Office (RTO) authorities have been asked to undertake a “review” of the motor vehicle inspectors’ work if less than 10 per cent of permanent licence seekers failed in the driving tests.

Several incumbent and former officers, however, raised question marks over the 10 per cent failure criteria, calling it the directive as “strange” and “unjustified”, and said the transport department should focus more on improving the quality of infrastructure required to conduct driving tests at the RTOs, and providing basic facilities. Continue reading “RTOs asked to ‘review’ vehicle inspectors’ work if less than 10% licence seekers fail driving test”

Summary

• Mexico increased tariff on China, India, other nations
• India’s auto group lobbied government to prevent hike, letter shows
• Mexico is India’s third-largest car export market
• Volkswagen, Hyundai, Nissan most impacted from tariff hike
• India’s total exports to Mexico at around $5.3 bln

NEW DELHI, (Reuters) – Mexico’s decision to raise tariffs as high as 50% will affect $1 billion worth of shipments from major Indian car exporters, including Volkswagen and Hyundai, despite industry lobbying to persuade New Delhi to prevent such a move, according to two sources and a letter from an industry group reviewed by Reuters. Continue reading “Exclusive: Mexico tariff hike to hit $1 billion India car exports despite automaker lobbying”

Leading Indian companies like Tata Steel have joined hands with Swedish technology innovators to launch seven projects to drive decarbonisation in the domestic steel and cement sectors.

As India advances towards its 2070 net-zero target, reducing emissions from these hard-to-abate sectors will be essential to support the country’s infrastructure development, industrial growth, and long-term climate ambitions, a press statement has said. Continue reading “India, Sweden join hands to drive decarbonisation in steel, cement sectors”

Maharashtra assembly speaker Rahul Narwekar on Wednesday said the collection of toll from electric vehicles on Mumbai-Pune and Samruddhi expressways was “illegal”, and asked the government to implement the waiver system within eight days.

Responding to questions on the toll waiver for Electric Vehicles on the Mumbai-Pune Expressway, Nagpur-Mumbai Samruddhi Expressway and Atal Setu in Mumbai, Minister Dada Bhuse admitted that toll had been deducted from some EV users despite the waiver. Continue reading “Toll collection from EVs on key highways ‘illegal’; enforce waiver in 8 days: Maharashtra Speaker”

DMK leader K R N Rajeshkumar on Wednesday urged the government to allow commercial truck owners to replace old engines instead of scrapping entire vehicle under the vehicle scrappage policy.

Raising the issue during Zero Hour in the Rajya Sabha, Rajeshkumar acknowledged that the government’s goal of reducing pollution and improving road safety through the scrappage policy was “certainly an excellent work”. Continue reading “Scrapping vehicle too costly for truck owners, allow them to replace engines: DMK MP in RS”

Commerce and Industry Minister Piyush Goyal on Wednesday said negotiations for the India-EU free trade agreement are progressing, and a rough outline of the pact has been prepared.

He said both sides are committed to an early conclusion of the deal.

“Ek free trade agreement ki motee-motee roop rekha taiyaar ho gayee hai (a rough outline of a free trade agreement has been prepared),” Goyal told reporters here. Continue reading “India, EU committed for early conclusion of FTA negotiations: Goyal”

The Maharashtra State Road Transport Corporation (MSRTC) will acquire 8,000 new buses by 2026, of which the tender process for 3,000 vehicles has already been completed, state transport minister Pratap Sarnaik said on Wednesday.

The bus organisation will also get ₹2,893 crore through supplementary demands, and it will include the amount provisioned for staff salaries and clearing their pending dues, he said in the legislative council. Continue reading “MSRTC to get 8,000 new buses by 2026: State transport minister Pratap Sarnaik”