Summary

• Xpeng, Geely shares fall amid BYD’s free smart driving features
• BYD’s move could trigger price war in competitive EV market
• Analysts say rivals face pressure, may struggle to match BYD’s pricing

SHANGHAI, (Reuters) – Shares in Chinese automakers Xpeng and Geely Auto tumbled on Tuesday on worries they will struggle to compete against BYD’s move to offer smart driving features across almost all of its line-up for free. Continue reading “Xpeng, Geely shares fall after BYD offers free smart driving tech”

BEIJING, (Reuters) – Leapmotor, the Chinese partner of Stellantis on Tuesday launched a new electric vehicle with smart driving technology priced under 150,000 yuan ($20,535), a day after BYD slashed the entry price for such smart EVs.

Leapmotor said it would launch pre-sale of its B10 on March 10, its first electric vehicle model that will be equipped with lidar and urban traffic smart driving capability. Continue reading “China’s Leapmotor launches $20,000 smart EV, after BYD cuts entry price”

Source : PTI | State-owned Oil and Natural Gas Corporation on Monday said it has signed a pact with global oil major BP to explore collaboration in exploration and production, trading and other energy vectors, in India and internationally. The MoU comes within a month of ONGC selecting BP as a technical service provider for raising output from its flagship Mumbai High oil and gas field.

ONGC and BP have agreed to explore opportunities for collaboration and partnership across the energy industry in India and internationally, focused on oil and gas exploration and production, as well as trading and extending to other energy vectors,” the firm said in a statement. Continue reading “ONGC signs pact with BP for oil exploration, trading”

Source : PTI | Around 150 eco-friendly CNG taxis painted in the classic yellow colour with blue border will soon ply the roads of Kolkata, a transport official said on Friday. An MoU in this regard was signed between the state government and the operator of the service on Thursday, the last day of the two-day Bengal Global Business Summit, he said.

The move is aimed at preventing yellow taxis from going off the city roads and providing all modern amenities keeping in mind the expectations and demands of the city commuters in an economical manner, the official said. Continue reading “CNG yellow taxis to ply Kolkata’s roads soon”

Summary

• Tariff threats create factory floor turmoil at US factories
• US factories fear retaliatory tariffs from Canada and Mexico
• US equipment makers see supply chain snarls if tariffs hit key North American partners

(Reuters) – Stephen Bullock’s phone rang early Monday morning last week at his small factory in North Carolina with an urgent message from his distributor up in Toronto who was rattled by what looked like an unfolding U.S.-Canada trade war. Continue reading “Looming tariffs turned into a mad dash north for one US manufacturer”

SAN FRANCISCO, (Reuters) – Rivian is opening up sales of its delivery vans to fleets of all sizes in the United States, the electric vehicle maker said on Monday, more than a year after ending its exclusive deal with shareholder Amazon.

Rivian, known for its flagship R1S SUVs and R1T pickup trucks, has seen demand beyond Amazon for its commercial vans and has been testing them with large fleets. Continue reading “EV maker Rivian opens up commercial van sales to all fleet sizes”

SINGAPORE, (Reuters) – Japan’s Nissan Motor is open to working with new partners including even technology firms after merger talks with cross-town rival Honda Motor foundered, people familiar with the automaker’s thinking have said.

The pair were on course to create the world’s fourth-biggest automaker with annual production of nearly 7 million vehicles, just behind compatriot Toyota Motor, Germany’s Volkswagen and South Korea duo Hyundai Motor and Kia, according to 2024 sales data. Continue reading “How Nissan lost its status as Honda equal”

Summary

• Texas law allows Tesla’s robotaxi service without special permits
• Musk has repeatedly promised fully self-driving taxis are coming soon
• Austin has experience with Waymo and Cruise driverless taxis

(Reuters) – Elon Musk told investors in late January that Tesla would roll out “autonomous ride-hailing for money” by June in Austin, Texas — a state where the company faces almost no regulation, raising questions about how much safety and legal risk Tesla is willing to take on as it deploys unproven driverless technology on public streets. Continue reading “Tesla robotaxis by June? Musk turns to Texas for hands-off regulation”

Summary

• Dongfeng JVs with foreign brands lose market share to domestic rivals such as BYD
• China urges SOE automakers to improve EV competitiveness
• Dongfeng, Changan leverage Huawei brand, tech to boost EV sales

HONG KONG, (Reuters) – Shares of Dongfeng Motor soared as much as 85.8% in Hong Kong on Monday after the Chinese automaker said its parent was planning a restructuring, stoking speculation that some of the state-owned players could be merged as competition grows. Continue reading “Dongfeng Motor shares surge as restructuring plans prompt merger speculation”

Source : PTI | New Delhi: Bajaj Auto is gearing up to enter the domestic e-rickshaw segment by the end of this fiscal to tap a ‘sizable opportunity’ in a fast-growing but highly unorganised market, according to a top company official. The company expects to get regulatory clearances towards the end of the ongoing quarter for its e-rickshaw that will enable it to enter the segment which is about 45,000 units a month, Bajaj Auto Executive Director Rakesh Sharma told analysts.

“By the end of this financial year, we also intend to launch a modern ‘e-rick’, which will set an absolutely new standard in the segment and bring a very high level of satisfaction to both owners and passengers. Continue reading “Bajaj Auto to ride into e-rickshaw segment by end of ongoing fiscal”

Source : PTI | New Delhi: Maruti Suzuki India aims to bolster charging infrastructure in the country before it drives in e VITARA with plans to establish the model as a primary vehicle in a household, according to a senior company executive. The auto major also plans to boost after-sales support, bring in a leasing model and more finance options to encourage customers to buy the model.

“One of the major concerns for the customer is the adequacy of the public infrastructure in terms of the chargers. So we are planning to have a fast charger at a frequency of 10 kilometers in the top 100 cities,” Maruti Suzuki India (MSI) Senior Executive Officer (Marketing & Sales) Partho Banerjee told PTI in an interaction. Continue reading “Maruti Suzuki plans to boost charging infra to position e VITARA as primary car”

Summary

• Tariff on China-made car costing VW brand hundreds of millions
• SEAT will be forced to cut loss-making EV if tariff not lowered
• Without the EV, SEAT will miss emissions targets, incur fines
• May be forced to cut combustion engine output, risking jobs
• “We need a solution”, CEO says

BERLIN, (Reuters) – Volkswagen’s SEAT, the Spanish subsidiary of Europe’s largest carmaker, will be forced to cut output and lay off around 1,500 workers if the EU does not lower its tariff on the brand’s China-made electric car by the end of March, its CEO told Reuters. Continue reading “Exclusive: VW’s SEAT boss warns Spanish jobs at risk if China-made EV tariff is not lowered”

(Reuters) – (This Feb. 6 story has been corrected to clarify that Nikola has done just one reverse stock split, not multiple, in paragraph 11 and in previous versions of the story)
Electric-truck maker Nikola is nearing filing for a bankruptcy, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The company’s shares fell 20% to 60 cents in extended trading. Continue reading “Electric-truck maker Nikola nears bankruptcy filing, WSJ reports”

NEW YORK, (Reuters) – Shares of Uber Technologies jumped to a three-month high on Friday after billionaire hedge fund manager Bill Ackman announced that he had taken a stake worth about $2.3 billion in the ride-sharing platform.

In a post on social media platform X, Ackman said he began acquiring a stake in Uber in early January and now owns 30.3 million shares in the company. Continue reading “Uber shares jump to three-month high after Bill Ackman builds $2 billion stake”

WASHINGTON, (Reuters) – A group representing automakers and electric vehicle charging companies on Friday urged the U.S. Transportation Department to quickly restart a $5 billion government EV infrastructure program.

On Thursday, the Trump administration said it was suspending the electric vehicle charging program and rescinding approval of state EV charging plans pending a new review. Continue reading “Automakers urge USDOT to quickly restart federal EV charging program”

Source : PTI | Motherson Sumi Wiring India Ltd on Thursday reported a 16.6% decline in net profit at INR 139.98 crore in the third quarter ended December 31, 2024, impacted by higher expenses. The company had posted a net profit of INR 167.86 crore in the same quarter last fiscal, Motherson Sumi Wiring India Ltd (MSWIL) said in a regulatory filing.

Total from operations in the third quarter stood at INR 2,300.28 crore against INR 2,114.53 crore in the year-ago period, it added. Continue reading “Motherson Sumi Wiring India Q3 net profit down 16.6% at INR 139.98 cr”

Source : PTI | IT services company HCL Technologies (HCLTech) on Thursday announced a collaboration with ChargePoint, a provider of networked charging solutions for electric vehicles, to drive innovation in EV charging software. According to a release, HCLTech has set up an advanced research and development centre for ChargePoint in Bengaluru.

The centre, inaugurated on Thursday by leadership from both companies, will serve as a central hub for ChargePoint’s software development efforts in India. Continue reading “HCLTech partners with ChargePoint to drive EV charging tech”

Source : PTI | Ola Electric Mobility Ltd on Friday reported a widening of consolidated net loss at INR 564 crore in the third quarter ended December 31, 2024 impacted by lower revenue due to enhanced competition and one-off cost to address service issues. The company had posted a net loss of INR 376 crore in the third quarter last fiscal, Ola Electric Mobility Ltd said in a regulatory filing.

Revenue from operations in the third quarter stood at INR 1,045 crore as compared to INR 1,296 crore in the year-ago period, it added. Continue reading “Ola Electric Q3 net loss widens to INR 564 cr”

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Source : PTI | Honda Cars India on Thursday said it has achieved E20 petrol compliance certification for all the models it sells in the country. The company has achieved compliance for the Elevate, City e:HEV, City, and Amaze models.

The achievement highlights Honda’s commitment to sustainable mobility and supporting India’s transition to greener and cleaner transportation, the automaker said in a statement. Continue reading “Honda Cars achieves E20 petrol compliance for entire model range”

TOKYO, (Reuters) – Japan’s Toyota Motor raised its full-year operating profit forecast by 9% on Wednesday, in a sign of confidence in its ability to ride out the impact of any potential U.S. tariffs.

The world’s top-selling automaker raised its profit forecast for the current year through March 2025 to 4.7 trillion yen ($30.7 billion) versus 4.3 trillion yen expected previously. Continue reading “Toyota raises profit view 9%, cites overall business strengthening”

(Reuters) – Ford said on Wednesday the president of its gasoline vehicles business, Andrew Frick, would take on the additional role of leading its money-losing electric vehicle business.

The company also said that Frick would continue to oversee Ford’s commercial vehicles unit until a new leader is named. Continue reading “Ford’s gas vehicles head to take on expanded role of leading EV unit”

PARIS, (Reuters) – French carmaker Renault will “vigorously” defend the interests of the group and its stakeholders, a spokesperson for the group said, adding that recent press information indicates that no decision had yet been made on the possible end of merger talks between Honda and Nissan.

Nissan is set to call off merger talks with rival Honda, a source said on Wednesday, abandoning a $60 billion plus tie-up that would have created the world’s no. 3 automaker and raising questions about how it will drive a turnaround by itself. Continue reading “Renault to defend its interests amid reports of end of Honda-Nissan merger talks”

Summary

• Volvo predicts tough 2025 that may not match 2024 profits, sales
• Shares drop over 9% on warning of greater competition
• Tariffs, competition in China and Europe challenge EV strategy

STOCKHOLM, (Reuters) – Volvo Cars warned on Thursday that 2025 would be a tumultuous and competitive year during which it might struggle to match its 2024 sales performance and profitability, sending its shares down 9.2%. Continue reading “Volvo Cars warns 2025 will be turbulent and competitive, sales plunge”

BEIJING, (Reuters) – Chinese electric vehicle maker BYD plans to hire 20,000 employees in Zhengzhou in the first quarter, in areas including R&D and manufacturing, government-run Henan Daily reported on Thursday.

There are around 60,000 workers at BYD’s production base in the capital city of central China’s Henan province. The Zhengzhou facility will ramp up production capacity this year according to the report. Continue reading “Chinese EV giant BYD to hire 20,000 in Zhengzhou in first quarter, local media reports”

Summary

• Volvo took over 50% of Novo joint venture
• Purchase price is 0 Swedish crowns
• Deal is part of larger negotiations, Volvo says
• Plans for Novo battery factory uncertain

(Reuters) – Volvo Cars will not pay Northvolt any money for its 50% stake in their Novo Energy battery venture, which it had agreed to acquire, the automaker’s quarterly report said on Thursday. Continue reading “Volvo Cars will not pay Northvolt for battery joint venture stake, it says”

Summary

• Nissan CEO tells Honda he wants to end merger talks – source
• Nissan open to working with others, including tech firms-sources
• Automaker also open to working with Taiwan’s Foxconn – source

TOKYO, Feb 6 (Reuters) – Nissan is open to working with new partners after merger talks with Honda foundered, two people familiar with its thinking said on Thursday, with Taiwan’s Foxconn seen as one candidate. Continue reading “Nissan open to new partners, sources say, including Foxconn”

Source : PTI | India’s growing economic scenario is creating job opportunities for global talent, especially in sectors like semiconductors, electric vehicles (EVs), defence and aerospace that have been witnessing 50-60% annual growth, executive search firm and talent consulting services provider Claricent Partners has said. “The rise in opportunities for global talent, especially at the C-suite level, is being observed across various sectors, with a notable surge in the consumer space. Additionally, significant movement is being seen within the industrial sector, particularly in areas such as semiconductors, EVs, defence and aerospace,” Claricent Partners Managing Partner Jyoti Bowen Nath told PTI.

She said, on an average, there has been about 50-60% year-on-year growth in job opportunities of global talent across semiconductors, EVs, defence and aerospace sectors.

Continue reading “‘India attracting global niche talents led by semiconductor, EV, defence sectors’”

New Delhi, February 5, 2025: Maruti Suzuki India Limited (MSIL), the country’s leading passenger vehicle manufacturer, today, announced the signing of a MoU (Memorandum of Understanding) with Sarva Haryana Gramin Bank (SHGB) to enter into a strategic vehicle financing partnership for its customers. This MoU will enable both Maruti Suzuki and Sarva Haryana Gramin Bank to offer customised financial solutions to the customers.

The MoU was signed in the presence of Mr. Partho Banerjee, Senior Executive Officer, Marketing & Sales, Mr. Bhuvan Dheer, Executive Officer, Marketing & Sales, Mr. Kamal Mahtta, Vice President, Allied Business, and Mr. Vishal Sharma, General Manager, Maruti Suzuki Finance & Driving School on behalf of Maruti Suzuki; and Mr. Sanjeev Kumar Dhupar, Chairman, Sarva Haryana Gramin Bank and other senior officials from both organizations. Continue reading “Maruti Suzuki partners with Sarva Haryana Gramin Bank for retail car financing”

Summary

• Tax woes mount for foreign automakers in India
• Kia privately contests India tax evasion demand, sources say
• Accusations similar to VW case on import of auto parts
• Kia India action covers Carnival model, notice shows

NEW DELHI, (Reuters) – India has accused South Korea’s Kia of evading taxes of $155 million by misclassifying component imports but the carmaker has denied wrongdoing, the latest fight by a foreign automaker with New Delhi over tariffs, according to a document and two sources. Continue reading “Exclusive: India accuses Kia of evading taxes of $155 mln in VW-like dispute”

PARIS, (Reuters) – French carmaker Renault will “vigorously” defend the interests of the group and its stakeholders, a spokesperson for the group said, adding that recent press information indicates that no decision had yet been made on the possible end of merger talks between Honda and Nissan.

Nissan is set to call off merger talks with rival Honda, a source said on Wednesday, abandoning a $60 billion plus tie-up that would have created the world’s no. 3 automaker and raising questions about how it will drive a turnaround by itself. Continue reading “Renault to defend its interests amid reports of end of Honda-Nissan merger talks”

TOKYO, (Reuters) – Japan’s Toyota Motor raised its full-year operating profit forecast by 9% on Wednesday, in a sign of confidence in its ability to ride out the impact of any potential U.S. tariffs.

The world’s top-selling automaker raised its profit forecast for the current year through March 2025 to 4.7 trillion yen ($30.7 billion) versus 4.3 trillion yen expected previously. Continue reading “Toyota raises profit view 9%, cites overall business strengthening”

Summary

• Honda sounded out Nissan about becoming subsidiary -source
• Nissan opposed the Honda proposal -source
• Nissan board met Wednesday, agreed to scrap talks -source

TOKYO, (Reuters) – Nissan looks set to step back from merger talks with rival Honda, two sources said on Wednesday, calling into question a $60 billion tie-up to create the world’s no.3 automaker and potentially leaving Nissan to drive its turnaround alone. Continue reading “Nissan set to step back from merger with Honda, sources say”

Source : PTI | New Delhi: Hero MotoCorp on Tuesday said it has received a GST demand of INR 456 crore from the Rajasthan authorities. The company has received an order from the Additional Commissioner, Central Goods and Services Tax, Alwar, Rajasthan, imposing a penalty of INR 456.06 crore under Section 74 of the Central Goods and Service Tax Act, 2017, along with an equivalent amount of GST and applicable interest thereon by disputing the tax rates on the parts and accessories supplied between July 2017 and March 2024, the two-wheeler major said in a regulatory filing.

“Based on the company’s assessment, the tax demand is not maintainable in law under both orders. Accordingly, the company shall take appropriate steps, including the filing of appeals,” it added. Continue reading “Hero MotoCorp gets INR 456 cr GST demand notice”

Summary

• Ferrari plans to launch six new models in 2025, including EV
• Ferrari’s 2024 EBITDA rose 12% on strong demand
• No plans to accelerate shipments to US to beat tariffs

MILAN, (Reuters) – Ferrari is preparing the landmark launch of its first fully electric car in October, the luxury sports car maker said on Tuesday, while targeting an increase of at least 5% in revenues and core earnings this year. Continue reading “Ferrari plans electric car debut in Italy this October”

Summary

• Tesla sales decline in UK, France, Sweden, Norway, Netherlands
• Musk’s political actions polarize public opinion, affecting Tesla’s brand
• Tesla faces competition from newer EV models

(Reuters) – Tesla posted lower sales across five European countries in January, including the United Kingdom and France, as competitors with newer models gained on the electric vehicle maker and polls show public opinion souring on CEO Elon Musk. Continue reading “Musk politics? Tesla sales slump in UK, European markets”

Source : PTI | The road transport ministry is working on a uniform toll policy to benefit national highway users, Union Minister Nitin Gadkari said on Monday. Gadkari also asserted that now India’s highway infrastructure matches that of the US.

“We are working on a uniform toll policy. It will address the problem faced by the commuters,” he told PTI in an interview, without elaborating further. Continue reading “Govt working on uniform toll policy to provide relief to commuters on National Highways: Gadkari”

(Reuters) – Self-driving technology company Waabi said on Tuesday it has partnered with truckmaker Volvo’s driverless systems unit to develop and deploy big rigs that drive themselves.

Fleets and truck manufacturers have been looking towards self-driving vehicle technologies to reduce costs and increase the time a truck can be on the road amid a driver shortage. Continue reading “Waabi ties up with Volvo to roll out self-driving trucks”