(Reuters) – Tesla’s best-selling Model Y’s program manager, Emmanuel Lamacchia, announced his departure on Sunday after nearly eight years, marking another high-profile exit from Elon Musk’s electric vehicle company.

The departure came hours after the head of Tesla’s Cybertruck program, Siddhant Awasthi, also said he was leaving the company. Awasthi, who started his career at Tesla as an intern eight years ago, played a key role in bringing the stainless-steel pickup to market and recently took over the Model 3 program. Continue reading “Tesla’s Model Y program manager announces exit alongside Cybertruck lead”

Summary

• Honda slashes annual operating profit outlook by a fifth
• Chinese EV makers’ competition poses long-term challenge
• Honda expects to sell fewer cars in Asia outside China this FY
• Company’s shares fall 4.7% on Monday

TOKYO, (Reuters) – Honda’s downgrade to its full-year profit outlook underscores the immediate pressure from U.S. tariffs and global chip shortages – but the deeper, longer-term challenge lies in intensifying competition from Chinese electric vehicle makers.

Japan’s second-largest automaker cut its full-year outlook by a fifth after the market closed on Friday, citing one-off EV costs and a shortage of components using chips from Netherlands-based Nexperia. The Dutch government took control of the company, owned by China’s Wingtech on September 30. Continue reading “Honda’s bigger threat comes from China’s EV makers, not tariffs or chips”

OICA announces the election of Shailesh Chandra, President of the Society of Indian Automobile Manufacturers (SIAM), as its new President, effective November 1, 2025, succeeding John Bozzella, President and CEO of the Alliance for Automotive Innovation (USA). 

Shailesh Chandra said “It is an honour to become the first OICA President from India, which is highlighting the organization’s global representation. As the global automotive industry transitions towards sustainable mobility and pursuits ‘Net Zero’, in alignment with the visions of Governments worldwide, the role of OICA becomes increasingly critical — to acknowledge the diversity of every region, as we collectively strive to make our vehicles more aspirational, safer, and environmentally friendly.” Continue reading “Shailesh Chandra, President of OICA, Hildegard Müller, Vice President”

Summary

• Chinese export exemptions could ease supply pressure
• Aumovio has secured exemption for Nexperia chips
• Honda, Volkswagen say shipments in China have resumed

BERLIN/TOKYO, (Reuters) – (This Nov 7 story has been corrected to say that Volkswagen’s China chief said the industry as a whole, not VW specifically, had received its first consignments of chips, in paragraph 10)

Semiconductor maker Nexperia has resumed some shipments of its vital chips, auto executives said on Friday, with Germany welcoming signs of de-escalation in a fight for control of the company that has rattled the car industry. Continue reading “Some Nexperia chip shipments resume as Germany welcomes ‘de-escalation’”

WASHINGTON, (Reuters) – U.S. economic growth in the fourth quarter could be negative if a federal shutdown drags on, White House economic adviser Kevin Hassett said in an interview that aired on Sunday.

Hassett, speaking to the CBS show “Face the Nation”, noted that a shortage of air traffic controllers was causing major travel delays in the run-up to the Thanksgiving holiday. Continue reading “US fourth-quarter GDP could be negative if shutdown drags on, White House economic adviser says”

Source : PTI | Indian automotive firm TVS Motor Company is looking to enter more markets in Europe, including Spain and Portugal, as part of its global footprint expansion, according to its Chairman Sudarshan Venu.

The company, which made its debut at the global two-wheeler exhibition EICMA 2025 here unveiling six new products across ICE and electric powertrains, feels that with an expanding portfolio it is time for it to tap ‘industrialised markets’, Venu told PTI in an interview. Continue reading “TVS Motor Co gearing up for bigger ride in European markets: Chairman Sudarshan Venu”

Source : PTI | Czech carmaker Skoda plans to bring more of its global nameplates into the Indian market as it looks to cater to a diverse set of customers, according to a senior company executive.

The company, which now sells products in India ranging from over Rs 7 lakh to upwards of Rs 40 lakh, however, has no immediate plans to introduce electric cars in the country. Continue reading “Skoda looks to drive in more global models into India; no immediate plans to get into EVs”

TOKYO, (Reuters) – Honda Motor slashed its full-year profit forecast by 21% on Friday, hurt by one-time electric vehicle costs, worsening sales in China and other Asian markets and a shortage of parts equipped with Nexperia chips.

Japan’s second-largest automaker cut its operating profit forecast for the year through March 2026 to 550 billion yen ($3.65 billion) from 700 billion yen. Continue reading “Honda cuts annual operating profit outlook on EV cost hit, slow Asia sales”

(Reuters) – BlackRock, the world’s biggest asset manager, is winding down a social impact fund that invested in collapsed subprime car lender Tricolor, the Financial Times reported on Friday, citing several people familiar with the decision.

The firm told employees it would close its BlackRock Impact Opportunities fund to new investments after Tricolor filed for bankruptcy in September, the report said. Continue reading “BlackRock to wind down fund that invested in failed car lender Tricolor, FT reports”

(Reuters) – Tesla CEO Elon Musk said he expects the automaker’s Full Self-Driving software, a driver assistance system, will be fully approved in China early next year.

“We have partial approval in China, and hopefully we’ll have a full approval in China around February or March or so,” Musk told the company’s annual general meeting on Thursday.

China’s industry ministry did not immediately respond to a Reuters request for comment. Continue reading “Musk expects Tesla’s Full Self-Driving software to win full China approval in early 2026”

(Reuters) – Honda Motor is recalling 406,290 vehicles in the U.S. over a manufacturing flaw that could cause aluminium alloy wheels to detach, the U.S. National Highway Traffic Safety Administration said on Friday.

The recall covers certain model 2016-2021 Civic vehicles that contain the 18-inch aluminum alloy wheels sold as accessories, the U.S. auto regulator said. Continue reading “Honda to recall over 406,000 US vehicles over wheel detachment issue, NHTSA says”

Summary

• Scaringe’s new pay plan linked to reduced stock price targets
• New package also hinges on new profit, cash flow milestones
• Rivian says aims to align CEO pay with shareholder returns
• Scaringe’s base salary doubled to $2 million

(Reuters) – Electric pickup and SUV maker Rivian said on Friday it was giving its CEO a pay plan worth as much as $4.6 billion over the next decade, a deal similar to Tesla’s record package for CEO Elon Musk, and linked to new profit targets and lower share price milestones than a previous deal.

The move by the Rivian board shows that the Tesla plan for Musk could become a model for companies aiming to grow fast. Rivian’s pay package for its CEO RJ Scaringe could be one of the richest in history, depending on what performance goals are met. Continue reading “EV maker Rivian gives CEO a Musk-style pay package worth up to $4.6 billion”

Source : PTI | Bajaj Auto on Thursday said it has made a request through its wholly-owned subsidiary to acquire 24,000 shares of Pierer Bajaj AG for 24.32 million Euro (around ₹248 crore).

Bajaj Auto International Holdings BV (BAIH) intends to acquire all 50,100 shares held by Pierer Industrie AG (PIAG) in Pierer Bajaj AG (PBAG). Continue reading “Bajaj Auto unit to acquire 24,000 shares in Pierer Bajaj AG for 24.32 mn euro”

Source : PTI | Mahindra Group CEO and Managing Director Anish Shah said on Friday that the company is targeting 10-20 per cent growth in exports in key overseas markets on the back of its product portfolio.

Participating in a CEO panel discussion on ‘Leadership in uncertain and disruptive times – Roadmap for India Inc’ at the 12th SBI Banking and Economics Conclave here, he said that the group also sees its aerospace business becoming a strong global business going forward. Continue reading “Mahindra group targets 10-20% growth in exports in key markets: CEO & MD Anish Shah”

(Reuters) – Ford executives are considering scrapping the electric version of the F-150 pickup truck, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Ford declined to comment on the matter, but said that it was focused on producing gas and hybrid powered variants of its F-150 as it recovers from the fire at Novelis.

Last month, a union official told Reuters that Ford was pausing production at the Dearborn, Michigan, plant that makes its F-150 Lightning electric pickup due to a fire at a supplier’s aluminum factory. Continue reading “Ford considers scrapping F-150 EV truck, WSJ reports”

PARIS, (Reuters) – Renault unveiled its new electric Twingo small car on Thursday as the French automaker seeks to leverage a popular old model name and a price tag of under 20,000 euros ($23,000) to boost its electric vehicle sales.

The small city car, developed in two years using an engineering team in China, will be manufactured in Slovenia and will go on sale in early 2026, the company said. Continue reading “Renault revives Twingo with new affordable electric version to boost sales”

(Reuters) – Australia’s Alliance Nickel said on Friday carmaker Stellantis will terminate their supply deal for battery-grade nickel and cobalt from the NiWest project, effective December 3, citing missed milestone deadlines.

The company attributed the delays to challenging conditions in the global nickel market, which have limited opportunities to secure financing. Alliance is the latest Australian producer forced to renegotiate supply agreements with automakers. Continue reading “Carmaker Stellantis pulls plug on supply deal with Australia’s Alliance Nickel”

Summary

• Analysts see vote as positive for Tesla stock
• Musk’s voting rights influenced approval despite opposition
• Musk’s pay tied to ambitious Tesla milestones
• Tesla’s future hinges on Musk’s ambitious AI and robotics vision

SAN FRANCISCO, (Reuters) – Tesla CEO Elon Musk won shareholder approval on Thursday for the largest corporate pay package in history as investors endorsed his vision of morphing the EV maker into an AI and robotics juggernaut.

The proposal was approved with over 75% support, and Musk bounded to the stage of the company’s annual meeting at its factory in Austin, Texas, accompanied by dancing robots. Continue reading “Elon Musk’s $1 trillion Tesla pay plan wins shareholder approval”

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Summary

• Nissan records best quarterly result in over a year
• Company expects stronger second half, CEO says
• Sales improve in North America, slip in Japan

YOKOHAMA, Japan, (Reuters) – Nissan Motor swung back to an operating profit in the second quarter, reporting its best quarterly result in more than a year on Thursday thanks to its efforts to reduce fixed costs under a turnaround plan and stronger sales in North America.

Nissan booked 51.5 billion yen ($342 million) in operating profit for the July-to-September quarter, up 61% from 31.9 billion yen a year earlier and beating a forecast for an average 70.9 billion yen loss from five analysts polled by LSEG. Continue reading “Nissan returns to operating profit in second quarter, maintains forecast”

Summary

• India’s favourite premium sedan recorded a sale of 2,453 units in Oct’25
• Virtus completes 40 Months in India, registers over 40% segment share in last two months
• India 2.0 Taigun & Virtus record over 1,60,000 unit sales in India till date

Mumbai: Volkswagen India today announced, its leading premium sedan, Virtus has recorded its highest ever monthly sales of 2,453 units in the month of October 2025. With a share of over 40% of the Premium sedan segment in the last two months, the Virtus remains an undisputed leader in the segment. Continue reading “Volkswagen Virtus records highest ever monthly sales in October 2025”

SAN FRANCISCO, (Reuters) – Tesla shareholders will decide on Thursday whether to pay CEO Elon Musk up to $878 billion, the richest executive pay in history by a long shot.

But the high-profile vote is only one of several proposals that could reshape the electric vehicle maker’s future, from the board’s power to whether Tesla should invest in Musk’s artificial intelligence firm xAI. Continue reading “Tesla investors vote on an $878 billion payday for Musk – but that’s not all”

Summary

• Share performance mirrors robotaxi firms’ overseas stock
• Rush of new listings leaves less funds for listing hopefuls
• Hong Kong overtakes NYSE and Nasdaq in listings this year

(Reuters) – Pony Ai and WeRide stocks plunged around 10% each Thursday as the Chinese autonomous driving developers started trading in Hong Kong, with analysts pinning the blame on new-listing oversupply as well as the firms’ overseas share performance.

WeRide shares closed down 10% from their issue price while Pony Ai stock lost 9.3%, after the two companies raised almost $1.2 billion in separate public share offerings. Continue reading “Pony Ai, WeRide shares tank as Hong Kong investors digest rush of listings”

Summary

• Volvo Cars targets profit margin of more than 8%
• Profit margin was 5.6% last year
• CFO says no time frame for target
• Plans collaboration with majority owner Geely
• Expects cost cuts to lift margin

STOCKHOLM, (Reuters) – Volvo Cars said on Thursday it was targeting a long-term operating profit margin of more than 8% as part of its strategy overhaul, which includes reworking its electrification plans and making hybrid cars for longer.

The Swedish automaker last year scrapped its target of going all-electric by 2030, saying it would continue to introduce hybrids amid a slowdown in demand for fully electric vehicles. Continue reading “Volvo Cars ramps up profit margin goal as pursues strategy reset”

Summary

• Japanese automakers invest billions in India to reduce China dependence
• India’s low costs and incentives attract Japanese carmakers
• Toyota, Honda, Suzuki expand production and exports in India

TOKYO, (Reuters) – Toyota, Honda and Suzuki are spending billions of dollars to build new cars and factories in India, a sign of the country’s growing importance as a manufacturing hub as Japanese automakers redraw global supply chains to reduce dependence on China.

Toyota the world’s largest carmaker, and Suzuki the leader in the Indian market with almost a 40% share, have separately announced investments totalling $11 billion to beef up manufacturing and export capabilities in the world’s third-largest auto market. Continue reading “Toyota, Honda turn India into car production hub in pivot away from China”

Summary

• Lucid expects to produce about 18,000 vehicles in 2025
• PIF agrees to increase credit facility to about $2 billion from $750 million
• Lucid expects some relief from 3.75% tariff offset for US-made EVs

SAN FRANCISCO, (Reuters) – Lucid lowered its 2025 production forecast to 18,000 vehicles, interim CEO Marc Winterhoff told Reuters on Wednesday, as the electric-vehicle maker, like many of its rivals, grapples with a slew of supply challenges and production constraints.

Shares of the company fell 3% in extended trading, after it also reported third-quarter revenue below analysts’ estimates and a bigger-than-expected loss, despite a jump in deliveries sparked by the now-expired $7,500 tax credit on EV purchases. Continue reading “EV maker Lucid cuts 2025 production forecast as supply challenges hurt”

DETROIT, (Reuters) – JPMorgan Chase has invested $2 billion during the past 11 years in Detroit to help reduce unemployment and boost growth, CEO Jamie Dimon said in an interview in the city on Wednesday, and the bank plans to roll out the model in other U.S. cities.

The largest U.S. lender’s investments have included $1.8 billion in commercial loans and credit and $200 million in philanthropy. Continue reading “JPMorgan investment in Detroit to model plans for other US cities”

Summary

• CEO Musk might quit if investors vote down $878 billion pay package this week, board says
• Many shareholders believe only Musk can deliver on promises of robotaxis, robots
• Some investors, experts warn of risks in staking Tesla’s future on one leader

LOS ANGELES, (Reuters) – Tesla’s board of directors has pushed in all its chips on Elon Musk. Now investors must decide whether to back the biggest bet in company history.

Shareholders will vote Thursday on the stark choice presented by the board: pay Musk up to $878 billion in company stock or take the risk he will leave – potentially driving down the company’s stock. The decision, experts say, amounts to a referendum on whether traditional corporate-governance rules apply to the world’s richest man. Continue reading “Tesla board to shareholders: Pay Musk or else”

TOKYO, (Reuters) – Nissan Motor has concluded a 97 billion yen ($643 million) deal to sell and lease back its global headquarters in Yokohama, Japan, as part of its business restructuring plans, the automaker said on Thursday.

Nissan expects to book about 73.9 billion yen in extraordinary income from the deal in the current fiscal year running through March 2026, it said in a disclosure. Continue reading “Nissan sells, leases back headquarters in $643 million deal”

Summary

• New platform to be 90 kg lighter, accommodates hybrids and petrol models
• Honda targets 60% parts sharing, modular architecture to cut costs
• Plans to sell 2.2-2.3 mln hybrids by 2030, up from 868,000 last year

HAGA, Japan, (Reuters) – Honda Motor said on Thursday it is developing a platform centred on mid-size hybrid cars and a hybrid system for large vehicles, as the Japanese automaker seeks to boost competitiveness amid a slower shift to fully electric cars.

The new platform, to be deployed in vehicles from 2027 or later, will be designed for hybrids but can also accommodate petrol-only models. Honda said the platform will be about 90 kg (200 lb) lighter than current designs. Continue reading “Honda bets on hybrids with lighter platform for next-generation models”

STOCKHOLM, (Reuters) – Automakers transporting their cars to the U.S. could face $200 to $300 per vehicle in additional costs, the CEO of car carrier Wallenius Wilhelmsen told Reuters on Wednesday, as the company seeks to pass on new U.S. port fees to customers.

Higher-than-expected U.S. port fees on foreign-built ships took effect in mid-October as part of a trade dispute between China and the U.S. That prompted Wallenius Wilhelmsen, which operates “roll-on/roll-off” carriers that ship cars and heavy machinery worldwide, to withdraw its financial outlook. Continue reading “Automakers face higher costs from US port fees, car carrier Wallenius Wilhelmsen warns”

PARIS, (Reuters) – The European Commission aims to announce the creation of a new category of affordable small electric cars in December in an effort to counter Chinese competition and revive the European market, an EU commissioner said on Tuesday.

WHY IT’S IMPORTANT

The Commission has been working on creating an intermediate category between quadricycles that weigh a few hundred kilograms and all other cars, so that small electric vehicles no longer have to include as much safety equipment and technology as a large saloon car. So far, the timeline of such a reform was uncertain. Continue reading “EU plans December announcement to make small EVs more affordable, Sejourne says”

Summary

• Rivian’s Q3 revenue boosted by pre-expiry EV tax incentive rush
• Adjusted net loss smaller than analyst expectations
• Rivian expects tariff costs to fall to a few hundred dollars per vehicle

(Reuters) – Rivian Automotive surpassed third-quarter revenue expectations on Tuesday, fueled by strong deliveries as U.S. consumers rushed to grab a federal tax incentive on electric vehicle purchases before its expiry.

Shares of the Irvine, California-based company rose more than 4% after the bell. Continue reading “Rivian rides on EV tax-credit rush to beat revenue estimate, expects lower tariff costs”

(Reuters) – Tesla’s UK car sales halved year-over-year in October, data from research group New AutoMotive showed on Wednesday, echoing the steep falls the U.S. electric vehicle maker saw in other European countries.

There were only 495 new Tesla UK registrations in the month, down 51% from the 1,013 registrations last year, the data showed. Continue reading “Tesla’s UK car sales halve in October, New Automotive data shows”

Summary

• Nissan to cut Rogue output by 900 cars next week, source says
• Automaker reviewing output plans for following week, source says
• Nissan plans small-scale adjustment for Kyushu, Oppama plants
• Chip shortage stems from Dutch control of China-owned Nexperia

TOKYO, (Reuters) – Nissan Motor will cut production of its top-selling Rogue SUV in Japan from next week due to a short supply of chips from Dutch firm Nexperia, according to a person familiar with the matter, the latest fallout from the diplomatic turmoil involving the chipmaker. Continue reading “Exclusive: Nissan to cut Rogue production in Japan over Nexperia fallout, source says”

Summary

• Norwegian fund opposes Tesla’s general stock compensation plan
• Proxy advisers urge rejection of Musk’s compensation plan
• Musk’s pay package likely to pass despite opposition

OSLO / BOSTON, (Reuters) – Norway’s sovereign wealth fund, Tesla’s sixth-largest outside investor, said on Tuesday it would vote against ratifying a proposed pay deal for CEO Elon Musk potentially worth $1 trillion. Continue reading “Norwegian opposition complicates Musk’s path to $1 trillion pay deal”

WASHINGTON, (Reuters) – Stellantis said Tuesday it is recalling 375,000 plug-in hybrid Jeep Wrangler and Grand Cherokee SUVs worldwide over battery failure after 19 reports of fires, and urged owners to park outdoors until a fix is completed.

The recall covers some 2020 through 2025 Jeep Wrangler 4xe and 2022-2026 Jeep Grand Cherokee 4xe SUVs. Continue reading “Stellantis recalls 375,000 Jeep SUVs over fire risks, urges owners to park outside”

Source : PTI | A Chinese firm this week began trial production of flying cars stated to be the next-generation in the world of transportation, ahead of US firm Tesla and others plans to launch the same shortly.

Xpeng Aeroht, the flying car affiliate of Chinese electric vehicle maker Xpeng on Monday began trial production at the world’s first intelligent factory for mass-produced flying cars — a milestone in the commercialisation of next-generation transport.

Continue reading “China-based company kicks off trial production of flying cars, ahead of Tesla”