Summary

• Tariffs due to take effect at 0501 GMT on Tuesday
• Markets tumble after Trump locks in Canada, Mexico tariffs
• North American imports to get 25% duty, 10% for Canadian energy
• Trump raises tariffs on Chinese goods to 20% over fentanyl

WASHINGTON, (Reuters) – U.S. President Donald Trump said 25% tariffs on goods from Mexico and Canada will take effect from Tuesday, pushing North America closer to a regional trade war and sending financial markets reeling. Continue reading “Trump locks in Canada, Mexico tariffs to launch on Tuesday; stocks tumble”

Summary

• New CO2 emission targets came in for 2025
• EC now set to give carmakers 3 years to comply and avoid fines
• News sends shares of VW, Renault, BMW among others higher

BRUSSELS, (Reuters) – The European Commission yielded to pressure from European automakers on Monday by giving them three years, rather than only one, to meet new CO2 emission targets for their cars and vans. Continue reading “EU seeks to grant automakers ‘breathing space’ on CO2 emission targets”

Summary

• To build next Civic in Indiana to skirt US tariffs, sources say
• Sees Indiana production at around 210,000 Civics/yr, source says
• New Civic production pushed to May 2028, from November 2027, sources say

TOKYO, (Reuters) – Honda has decided to produce its next-generation Civic hybrid in the U.S. state of Indiana, instead of Mexico, to avoid potential tariffs on one of its top-selling car models, according to three people familiar with the matter. Continue reading “Exclusive: Honda to produce next Civic in Indiana, not Mexico, due to US tariffs, sources say”

– General Motors on Monday announced the hiring of its first chief artificial intelligence officer as the automaker looks to use the technology more in its vehicles and in other parts of its business.

GM has hired Barak Turovsky, 49, a former head of AI at Cisco and was a leader on the technology for Google. Continue reading “GM hires chief AI officer for new role”

Summary

• Shares sold were increased by 10%
• Share sale is largest automotive follow-on offering in past decade, BYD says
• UAE Al-Futtaim Family Office buys strategic stake

SYDNEY, (Reuters) – Chinese electric vehicle maker BYD said on Tuesday it had raised $5.59 billion in a primary share sale that was increased in size, making it the largest of its kind in Hong Kong in four years.

The company said it sold 129.8 million primary shares in the deal, up from the original 118 million shares planned when the deal launched on Monday. Continue reading “China’s BYD raises $5.59 billion in share sale, Hong Kong’s largest in four years”

Source : PTI | German carmaker Volkswagen will be driving in its two globally acclaimed performance models Golf GTI and Tiguan R-line in India as part of its steps to enhance brand positioning in the country, a senior company official said on Monday. Volkswagen India will be launching the two models latest by the second quarter of 2025 by importing as fully built units under the ‘GSR 870 rule’ as a result of which volumes will be limited, Volkswagen India Brand Director Ashish Gupta told PTI.

“We are calling 2025 the year of ‘Progressive Performance’ for us… we want to make sure that we continue to grow in the Indian market. We want to make sure that we take the brand even higher up in terms of customer accessibility in terms of awareness and also in terms of brand image,” he said. Continue reading “Volkswagen to drive in Golf GTI, Tiguan R-line in India, seeks to enhance brand positioning”

Source : PTI | Nissan Motor India on Monday reported a 44.76 per cent on-year rise in total sales at 8,567 units in February 2025, riding on exports. The company, which sold 5,918 units in February 2024, said all the powertrain options of its compact SUV Magnite are now E20-compatible with the Magnite BR10 naturally aspirated engine also becoming fully-compliant recently after the more powerful 1-litre HR10 turbocharged petrol engine, which became E20-compatible in August 2024.

In February 2025, domestic sales accounted for 2,328 units, down from 2,755 units in the same month last year. Continue reading “Nissan Motor India total sales up 44.76% at 8,567 units in February”

Summary

• GM doubles share of U.S. EV sales to 12% in 2024
• GM credits broad EV lineup for sales surge
• EV sales still only about 6% of overall deliveries
• Trump’s plan to kill EV subsidies would test GM’s EV momentum

DETROIT, (Reuters) – General Motors has spent billions over decades trying to blaze an electric trail, releasing pioneering EVs and hybrids that ultimately failed to achieve mass-market sales before being scrapped. This time might be different. Continue reading “GM’s electric gains face critical test as Trump targets EV subsidies”

NEW YORK, (Reuters) – Nine people were arrested during a raucous demonstration outside a New York City Tesla dealership on Saturday, protesting owner Elon Musk’s role in sweeping cuts to the federal workforce at the behest of President Donald Trump.

The protest, which police said involved hundreds of people, was one of a wave of “Tesla Takedown” demonstrations staged across the country targeting billionaire Musk, who is spearheading the Trump administration’s so-called Department of Government Efficiency, or DOGE. Continue reading “Nine arrested at New York Tesla dealership as anti-Musk protests break out”

(Reuters) – Volkswagen is recalling 60,490 U.S. vehicles due to a failure to display the gear position that may result in a vehicle rollaway if the parking brake is not engaged, the U.S. National Highway Traffic Safety Administration said on Saturday.

The recall affects certain 2021-2023 ID.4, 2022-2023 Audi Q4 e-Tron, and Q4 e-Tron Sportback vehicles, the auto safety regulator said. Continue reading “Volkswagen to recall over 60,000 US vehicles, NHTSA says”

Source : PTI | New Delhi: Toyota Kirloskar Motor on Saturday said its overall sales increase 13 per cent year-on-year to 28,414 units in February.

The company sold 25,220 units in February 2024. Last month, the company dispatched 26,414 units to its dealers in the domestic market.

Toyota Kirloskar Motor also exported 2,000 units in February 2025.

“MPVs and SUVs continue to be the primary growth drivers, contributing 68 per cent to overall sales,” Toyota Kirloskar Motor Vice President, Sales-Service-Used Car Business Varinder Wadhwa said in a statement.

The strong demand for models such as the Innova Crysta, Innova Hycross, Urban Cruiser Hyryder, Hilux, Fortuner, Legender, and Rumion reflects the growing preference for reliable and quality products, he added.

Source : PTI | The Maharashtra government has rejected the Opposition’s allegation about charging a high fee for high-security registration plates (HSRPs), citing that the prices were on par with the other states. In a statement issued late on Friday evening, the government said due process was followed while awarding tenders for the registration plates, and a high-power committee had approved the rates.

The opposition parties, NCP (SP) and Congress, on Friday, wrote to Chief Minister Devendra Fadnavis demanding a probe into the contracts awarded to companies for HSRPs. Continue reading “Maharashtra govt denies charge about high HSRP fee for vehicles, says rate on par with other states”

Source : PTI | Ola Electric has eliminated its regional warehouses across India, and will now leverage its 4,000 retail stores nationwide for maintaining vehicle inventory, spare parts, accessories, and last-mile deliveries. The strategic move is expected to boost EBITDA margins by almost 10 percentage points, besides improving inventory management and faster customer deliveries, sources directly familiar with the matter said.

Ola Electric is redesigning its distribution network and optimizing vehicle registration process as India’s largest electric two-wheeler maker chalks out roughly INR 30 crore monthly savings in an accelerated profitability drive.

Continue reading “Ola Electric accelerates profitability drive axing regional warehouses, optimising costs”

Source : PTI | TVS Indeon Ltd., a wholly owned subsidiary of Lucas TVS Ltd., inaugurated a new battery pack production facility in Gummidipoondi, Tamil Nadu, on February 28. According to an official release, the expansion aims to double production capacity to 1,000 battery packs per day, with the company expecting to reach full capacity by March 2026.

The increased output will cater to the growing demand for lithium-ion battery packs, primarily supplying TVS Motor Company for its e-mobility and energy storage segments. Continue reading “TVS Indeon expands battery pack production facility in Tamil Nadu; aims to double capacity by 2026”

Summary

• Forvia drafts action plan on dealing with U.S. tariffs
• Shares drop 18.6% to bottom of SBF120 index
• Anticipates sales drop in Europe, North America
• Growth expected in South American, Chinese markets

(Reuters) – French car parts supplier Forvia is drafting an action plan on how to deal with the impact of U.S. tariffs on its Mexican operations, and plans to pass on costs to customers, it said on Friday. Continue reading “Car parts supplier Forvia to pass on cost of US tariffs to customers”

(Reuters) – Polestar has secured additional loan funding of up to $450 million, it said on Friday, and would delay its fourth-quarter results to April as the Swedish electric vehicle maker burns through cash in its bid to bolster the business, amid falling demand.

U.S.-listed shares of the company fell 2.7% in premarket trading. Continue reading “EV maker Polestar gets $450 million loan, delays quarterly results”

Summary

• Layoffs threaten U.S. space traffic management efforts
• NOAA’s Office of Space Commerce faces staff cuts
• Space industry faces increased collision risks without coordination
• Space industry fears delays in satellite launch approvals

WASHINGTON, (Reuters) – The Trump administration this week fired employees who were building a system to manage satellite traffic in space, weakening a badly needed effort championed by the U.S. space industry and the president’s first administration, according to people familiar with the move. Continue reading “Trump layoffs hit key ‘air traffic control for space’ unit”

Summary

• GM doubles share of U.S. EV sales to 12% in 2024
• GM credits broad EV lineup for sales surge
• EV sales still only about 6% of overall deliveries
• Trump’s plan to kill EV subsidies would test GM’s EV momentum

DETROIT, (Reuters) – General Motors has spent billions over decades trying to blaze an electric trail, releasing pioneering EVs and hybrids that ultimately failed to achieve mass-market sales before being scrapped. This time might be different. Continue reading “GM’s electric gains face critical test as Trump targets EV subsidies”

Summary

• European Commission to publish automotive action plan next week
• Package aims to help EU compete with Chinese and US car makers
• Includes local content requirements for car battery production

BRUSSELS, (Reuters) – The European Commission will present measures next week meant to boost demand for electric vehicles (EVs)in the European Union, and envisages local content requirements for car battery production, according to a draft of the proposals. Continue reading “EU to propose push to boost EV demand, require more local batteries”

(Reuters) – The leader of one of the largest U.S. labor unions on Thursday called on top asset managers to review Tesla’s valuation as the electric carmaker’s shares have slumped 30% so far this year.

Randi Weingarten, president of the American Federation of Teachers, wrote to top fund firms with Tesla shares including BlackRock Vanguard and T. Rowe Price saying she was concerned about the potential impact on members’ pension portfolios. Continue reading “US union chief calls on fund managers to review Tesla valuation”

Source : PTI | Ola Electric has eliminated its regional warehouses across India, and will now leverage its 4,000 retail stores nationwide for maintaining vehicle inventory, spare parts, accessories, and last-mile deliveries. The strategic move is expected to boost EBITDA margins by almost 10 percentage points, besides improving inventory management and faster customer deliveries, sources directly familiar with the matter said.

Ola Electric is redesigning its distribution network and optimizing vehicle registration process as India’s largest electric two-wheeler maker chalks out roughly INR 30 crore monthly savings in an accelerated profitability drive.

Continue reading “Ola Electric accelerates profitability drive axing regional warehouses, optimising costs”

Source : PTI | Mahindra South Africa, the local subsidiary of the Indian automative giant, has signed a Memorandum of Understanding with the Industrial Development Corporation (IDC) to undertake an in-depth feasibility study on the potential establishment of a Completely Knocked Down (CKD) vehicle assembly facility in the country.

Mahindra South Africa is also in the process of increasing its productive capacity at its assembly facility operation by AIH Logistics in KwaZulu-Natal province as it enters a third decade in the country, which it often refers to as “Mahindra’s second home.” Continue reading “Mahindra looking to setup CKD assembly plant in South Africa”

Summary

• Xiaomi prices SU7 Ultra from 529,900 yuan, down from 814,900 yuan initially
• CEO says price cut aimed to expand appeal to more buyers
• SU7 Ultra initially priced to be on par with Tesla Model S Plaid

BEIJING, (Reuters) – China’s Xiaomi on Thursday slashed its initial sticker price for its luxury electric sedan SU7 Ultra by over a third to 529,900 yuan ($72,931.72), mounting a bigger challenge to the likes of Tesla and Porsche in the world’s largest auto market. Continue reading “China’s Xiaomi prices luxury electric sedan 35% lower than initially promoted”

Summary

• Trump says fentanyl inflows still too high, no deadline changes
• Trump vows to impose another 10% tariff on Chinese goods March 4
• White House sees insufficient progress curbing fentanyl deaths
• US foreign aid freeze sets back Mexico’s drug interdiction efforts

WASHINGTON, (Reuters) – U.S. President Donald Trump on Thursday said his proposed 25% tariffs on Mexican and Canadian goods will take effect on Tuesday, along with an extra 10% duty on Chinese imports because deadly drugs are still pouring into the U.S. from those countries. Continue reading “Trump vows March 4 tariffs for Mexico, Canada, extra 10% for China over fentanyl”

(Reuters) – Tesla has applied for a permit typically associated with chauffeur-operated services, according to California regulators, marking the first phase of a series of regulatory approvals required for the electric car maker to eventually launch a promised robotaxi service.

The automaker currently has the approval to test autonomous vehicles with a safety driver in California, but does not have a permit for driverless testing or operations from the state’s Department of Motor Vehicles, which would be needed to apply for a driverless taxi service in the state. Continue reading “Tesla seeking first in series of approvals to offer robotaxi service in California”

Summary

• Mercedes-Benz China cutting workforce costs by 25% – source
• 10-15% of staff in sales, finance teams to be let go – source
• CFO said in earnings call wider cost-cutting drive was underway
• Mercedes-Benz China says figure is “not true”

(Reuters) – Mercedes-Benz is cutting 10-15% of sales and finance jobs in China and plans to reduce costs for office-based roles by a quarter in the country by 2027, a person with direct knowledge of the matter said. Continue reading “Mercedes-Benz China plans to cut workforce costs by 25% by 2027, source says”

Summary

• Management shake-up set to be unveiled on March 12
• CEO Uchida currently expected to keep his job
• Nissan directors are checking interest in potential CEO candidates, Bloomberg reports

TOKYO, (Reuters) – (This Feb. 27 story has been refiled to fix the link in paragraph 12)

Japan’s Nissan will unveil a shake-up in its top ranks next month, three people familiar with the matter said on Thursday, adding that embattled CEO Makoto Uchida is currently expected to hang on to his job. Continue reading “Nissan CEO Uchida’s future in focus as sources say management shake-up due soon”

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This was originally published in the India File newsletter, which is issued every Tuesday. Sign up here to get latest news from India and how it matters to the world.

Elon Musk’s Tesla seems to be nudging closer to selling its electric vehicles (EVs) in India, unnerving its automakers. How much of a headache will Tesla be for Indian automakers? That’s the focus of our analysis this week. Continue reading “India File: Tesla tremors hit automakers”

JSW MG Motor India has become the first Original Equipment Manufacturer (OEM) in India to implement a Green Pretreatment Line in its Paint Shop. The initiative, developed in collaboration with PPG Asian Paints, significantly reduces carbon emissions by approximately 1,800 tonnes annually. The company has adopted ambient temperature phosphate technology in its Pretreatment Electrodeposition (PT-ED) line, reducing the process temperature to 38°C from the conventional 42-50°C.

Additionally, it simplifies operations, lowers maintenance costs, and enhances overall process efficiency. This move aligns with the company’s broader strategy of integrating eco-friendly manufacturing practices to minimise its environmental impact. Continue reading “JSW MG Motor India Sets Industry Benchmark With Green Pretreatment Line”

(Reuters) – Mercedes-Benz and its subsidiaries plan to cut up to 15% of their workforce in China, Bloomberg News reported on Thursday, citing people familiar with the matter.

The job cuts will primarily impact its financing and sales units, Mercedes-Benz Automobile Finance Co and Beijing Mercedes-Benz Sales Service Co, the report added. Continue reading “Mercedes-Benz plans to cut up to 15% jobs in China, Bloomberg News reports”

TOKYO, (Reuters) – Nissan Motor is expected to announce a planned streamlining of its executive line-up on March 12, according to three people familiar with the matter.

The struggling Japanese automaker is not currently expected to announce the resignation of Chief Executive Office Makoto Uchida as part of that reshuffle of its executive line-up, the people said. All three people declined to be identified because the information has not been made public. Continue reading “Nissan to announce streamlining of executive line-up on March 12, sources say”

Summary

• Toyota’s global production rose 6% y/y in January
• Domestic production up 22%, offsetting overseas decline
• North American demand strong despite snowfall impact

TOKYO, (Reuters) – Toyota Motor said on Thursday its worldwide production rose for the first time in a year in January, as it ramped up output in Japan after recovering from last year’s certification scandal in its home market. Continue reading “Toyota global output rises for the first time in a year in January”

TOKYO, (Reuters) – Nissan is due to unveil a shake-up in its top ranks next month with embattled CEO Makoto Uchida likely to hang on to his job, three people familiar with the matter said on Thursday, in the wake of failed talks to combine with Honda.

Nissan Motor is due to announce the management streamlining on March 12, the people said, declining to be identified because the information has not been made public. Continue reading “Nissan to announce management shake-up, sources say, as Uchida’s future in focus”

(Reuters) – Tesla’s stock tumbled 8% on Tuesday, pushing its market value below $1 trillion for the first time since November after data showed the electric car maker’s sales slumped in Europe in January.

The European Automobile Manufacturers Association reported that Tesla sales dropped 45% in Europe, compared with a 37% jump in overall sales of EVs in Europe. Continue reading “Tesla’s market value tumbles below $1 trillion as its Europe sales slump”

TOKYO, (Reuters) – Nissan Motor is considering replacing its CEO Makoto Uchida following a worsening in the Japanese automaker’s business performance and the collapse of talks to combine with Honda Motor, Bloomberg News reported on Thursday citing people familiar with the matter.

Nissan directors are checking interest in potential candidates to succeed Uchida, who has been CEO since late 2019, Bloomberg News cited one of the people as saying. A Nissan representative declined to comment on the report. Continue reading “Nissan considers replacing CEO Uchida in wake of Honda deal collapse, Bloomberg News says”

Summary

• Quarterly dividend increases to 15 cents per share
• GM aims to reduce share count, balance investments in EVs

DETROIT, (Reuters) – General Motors said on Wednesday it would increase its quarterly dividend by 25% and undertake a new $6-billion share buyback program.

Shares of the automaker rose about 6% in morning trading. Continue reading “GM to increase dividend 25%, buy back another $6 billion of shares”

Source : PTI | Tata Steel’s managing director TV Narendran on Tuesday pitched for safeguard duties on steel imports to protect the domestic steel industry from the indirect impact of US tariff hikes. He said many countries have initiated similar actions on steel imports, pointing out that the last three days have seen Vietnam imposing an anti-dumping duty on Chinese steel imports, and South Korea has also taken a similar decision.

“We are asking for safeguard duties, which can be imposed immediately to help us,” Narendran told reporters on the sidelines of the tech industry lobby grouping Nasscom’s annual event NTLF here. Continue reading “US tariffs: Tata Steel pitches for safeguard duties on imports”

Source : PTI | India is looking at increasing its target to blend ethanol with petrol to more than 20 per cent and has formed a committee under the NITI Aayog to look into it, Petroleum and Natural Gas Minister Hardeep S Puri said on Wednesday. Addressing the Advantage Assam 2.0 business summit, he said 19.6 per cent blending has already been achieved.

“We will be looking at more than 20 per cent blending of biofuel. Already a NITI Aayog group has been set up and they are looking into it,” he said. Continue reading “India looking at increasing ethanol blending with petrol to over 20%: Puri”

Source : PTI | Work on road projects worth Rs 80,000 crore will soon start in Assam, Road Transport Minister Nitin Gadkari said on Wednesday. Addressing virtually a session on the road, railway and riverine infrastructure at the Advantage Assam 2.0 business summit, he said that in the 15 years till 2029, projects worth Rs 3 lakh crore under his ministry will be completed in the state.

Among the new projects for which work will start are the Guwahati ring road, a tunnel under the Brahmaputra river and an elevated corridor at Kaziranga National Park, Gadkari said. Continue reading “Work on road projects worth Rs 80,000 cr will soon start in Assam: Gadkari”