Summary

• Huge new Santos container terminal stirs dispute
• Port auction rules favor newcomers over Maersk, MSC
• Process may open door to Asian rivals, new JBS unit

SAO PAULO, (Reuters) – Global shipping groups are looking to Brazil’s courts to overturn competition rules that bar them from participating in the first round of bidding on a major new container terminal at Latin America’s largest port, due to take place later this year.

Danish shipping group Maersk filed a lawsuit on Monday in Sao Paulo against Brazil’s marine transport authority (Antaq), and its general director, according to a document seen by Reuters. The lawsuit called for “procedural corrections to ensure a fair process” to assign the Tecon 10 terminal at the Port of Santos. Continue reading “Exclusive: Maersk sues over $1 billion Brazil port auction, MSC Group’s TIL may follow”

Summary

• European car sales up 1.9% year-on-year in May
• Battery-electric car sales jump 27.2%
• Tesla sales drop 27.9%, falling for fifth straight month

(Reuters) – Tesla’s new car sales in Europe fell 27.9% in May from a year earlier even as fully-electric vehicle sales in the region jumped 27.2%, with the U.S. EV maker’s revised Model Y yet to show signs of reviving the brand’s fortunes.

Overall car sales in Europe rose 1.9%, with the strongest growth coming from plug-in hybrids and cars powered by alternative fuels, data from the European Automobile Manufacturers Association (ACEA) showed. Continue reading “Tesla’s European sales slump for fifth month”

Summary

• BYD has cancelled night shifts at some factories in China -sources
• Production at some factories cut by at least a third of capacity -sources
• BYD has suspended some plans to set up new production lines -source

SHANGHAI, (Reuters) – Chinese electric vehicle champion BYD has slowed its production and expansion pace in recent months by reducing shifts at some factories in China and delaying plans to add new production lines, said two people with knowledge of the matter. Continue reading “Exclusive: BYD slows production, delays capacity expansion at China factories, sources say”

Summary

• Traffic problems, driving mistakes feature in Tesla’s robotaxi – passenger videos
• Robotaxis entered wrong lane, dropped passengers off in the middle of roads among other issues
• Problems show limitations of Tesla’s self-driving software – safety expert
• Driverless vehicle rivals Waymo and Cruise also faced issues in their rollouts

(Reuters) – A first public test of robotaxis by Tesla in Austin, Texas led to multiple traffic problems and driving issues, videos from company-selected riders showed over the first few days. Continue reading “Tesla’s robotaxi peppered with driving mistakes in Texas tests”

Source : PTI | Tata Steel CEO & Managing Director T V Narendran on Tuesday said the overall impact of the Iran-Israel conflict on the company was not much.

He said this on the sidelines of a programme organised by the Singhbhum Chamber of Commerce and Industry (SCCI).

Narendran said 95 per cent of sales of the company take place domestically on Indian currency. Hence, the overall impact on the company would not be much for the time being but if the conflict lasts long, then its impact will be felt globally including Tata Steel. Continue reading “Iran-Israel conflict not to have much impact on Tata Steel unless it lasts long: MD & CEO T V Narendran”

Source : PTI | The government has disbursed Rs 21,534 crore under Production-Linked Incentive schemes for 12 sectors, including electronics and pharma, since the launch of the support measure to boost domestic manufacturing, an official statement said on Wednesday.

In 2021, the government announced Production-Linked Incentive (PLI) schemes for 14 sectors with an outlay of Rs 1.97 lakh crore.

Continue reading “Govt disburses ₹21,534 crore under 12 PLI schemes so far”

Summary

• ‘The global demand environment remains volatile,’ CEO says
• FedEx shares fall more than 5% in after-hours trading
• Uncertainty about Trump tariffs a big wild card for FedEx
• FedEx more exposed to China than UPS, whose shares dipped less than 1%

LOS ANGELES, (Reuters) – FedEx on Tuesday signaled caution for the year ahead and forecast current-quarter profit short of market expectations amid volatile global demand, sending shares of the delivery giant down more than 5% after hours. Continue reading “FedEx shares sink 5% after profit outlook highlights tariff challenges”

Summary

• China has been shipping new cars as ‘used’ overseas since 2019
• Chinese state media condemned the domestic ‘zero mileage’ used car market
• But local Chinese governments actively promote it to meet economic targets from Beijing

BEIJING/SHANGHAI, (Reuters) – China’s auto industry has inflated car sales for years through a burgeoning government-backed grey market that registers new cars right off the assembly line and then ships them overseas as “used” vehicles. Continue reading “Exclusive: China auto industry inflates sales by exporting new cars as ‘used’”

Source : PTI | Tata Motors group is better equipped to deal with supply chain challenges arising from the ongoing Israel-Iran clash, China’s restriction of rare earth magnet exports and global tariff war, having learnt from the semiconductor crisis during the COVID-19 pandemic, top company officials said on Tuesday.

Jaguar Land Rover (JLR), the company’s British arm that is facing a steep tariff hike for exports to the US, is not considering setting up a plant in America to address local demand, Tata Motors Group CFO PB Balaji told reporters during the company’s media day interaction. Continue reading “Better equipped to tackle supply chain woes from lessons learnt during chip crisis: Tata Motors”

(Reuters) – Ford is recalling 132,914 Aviator SUVs in the United States because parts, including rear door window bars, may detach due to insufficient adhesive retention, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Tuesday.

These detaching parts could pose a hazard to other road users and increase the risk of crashes, according to the NHTSA report. Continue reading “Ford recalls 133,000 Lincoln Aviators over risk of detaching parts”

PARIS, (Reuters) – French investigators on Tuesday ordered Tesla to stop what they called “deceptive business practices” or face thousands of euros in fines.

Investigators at the finance ministry’s Competition, Consumer Affairs and Fraud Control office said the automaker had engaged in deceptive commercial practices over the fully autonomous driving capabilities of its cars, had issued sales contracts with no date, time or place of vehicle delivery, and had failed to provide timely refunds, among other infractions. Continue reading “French investigators order Tesla to stop ‘deceptive business practices’”

Summary

• Nissan faces scrutiny over crisis at annual meeting
• Espinosa plans cuts, including closing plants and shedding jobs
• Strategic Capital urges action on Nissan Shatai subsidiary

TOKYO, (Reuters) – Nissan Motor shareholders vented their frustrations over the automaker’s poor performance at its annual general meeting on Tuesday, with some demanding greater management accountability for the deepening crisis at Japan’s third-largest car company. Continue reading “Nissan shareholders assail management over deepening crisis”

Summary

• Filosa officially takes the job on Monday
• Shares fall after management team announcement
• CFO Ostermann and tech chief Curic confirmed
• Maxime Picat leaves group

MILAN, (Reuters) – Stellantis new CEO Antonio Filosa started his tenure on Monday by retaining his previous role as head of the key North American market, while avoiding major changes to the French-Italian automaker’s senior management team. Continue reading “Stellantis shares fall as new CEO avoids big shake-up of top jobs”

Summary

• The U.S. auto workers union estimates it missed out on $80 million in potential stock gains
• UAW failed to follow its policy on asset allocation, missing bull market
• Federal monitor investigating UAW’s investment decisions

DETROIT, (Reuters) – The United Auto Workers’ leadership is mired in turmoil over allegations of an investment blunder that officials say cost the union about $80 million in potential gains from its financial portfolio, according to seven UAW officials and employees and union documents reviewed by Reuters. Continue reading “Exclusive: UAW investment blunder cost the union an estimated $80 million, documents show”

Source : PTI | Adani Group has commissioned India’s first off-grid 5 megawatt green hydrogen pilot plant in Kutch, Gujarat, the conglomerate said in a statement on Monday.

An off-grid green hydrogen plant is a facility that produces hydrogen using electrolysis powered by renewable energy sources, such as solar or wind, and is not connected to the main electrical grid. This means the plant relies entirely on its own renewable energy generation for the hydrogen production process. Continue reading “Adani commissions India’s 1st off-grid green hydrogen pilot plant”

India has ramped up purchases of Russian oil in June, importing more than the combined volumes from Middle Eastern suppliers such as Saudi Arabia and Iraq, amid market volatility triggered by Israel’s dramatic attack on Iran.

The US military struck three sites in Iran early Sunday, directly joining Israel which first struck Iranian nuclear sites on June 13. Continue reading “Iran-Israel War: India ramps up oil imports from Russia, US in June”

Source : PTI | Heavy vehicles descending the Bhor Ghat section of the Mumbai-Pune Expressway might soon move down the slope a bit faster, with authorities considering an increase in the existing speed limits, officials and transporters have said.

Deliberations are underway to raise the speed limit for heavy vehicles like trucks and buses from the current 40 kmph to 45-50 kmph on the downward incline of the Pune-Mumbai arm, also known as the Khandala Ghat. A decision is likely to be taken soon, they said. Continue reading “Speed limit likely to rise for heavy vehicles on Mumbai-Pune Expressway’s ghat stretch”

(Reuters) – Electric car maker Tesla started a trial of its long-awaited robotaxi service in Austin, Texas, on Sunday, the first step toward what could be a showdown with Alphabet’s (GOOGL.O) Waymo, the only player currently offering fully autonomous paid rides in the United States.

Tesla Chief Executive Elon Musk has started off with about 10 Model Ys and promised to focus on safety. He says Tesla could scale quickly, and he plans a separate robotaxi vehicle. Continue reading “How Tesla’s robotaxi efforts stack up against Waymo and Zoox”

LONDON, (Reuters) – Britain will aim to cut the electricity bills of thousands of companies under a new industrial strategy to be published on Monday, heeding calls from business to lower high energy costs that they say have damaged competitiveness and hindered growth.

Under an industrial strategy for the decade 2025-2035, the government plans to cut the bills of electricity-intensive manufacturers by up to 25% from 2027, a move it said could benefit more than 7,000 businesses. Continue reading “Britain to cut companies’ energy bills in new industrial strategy”

Summary

• Musk emphasizes safety, limits robotaxi operations to specific conditions
• Republican Texas governor signs bill regulating autonomous vehicles
• Law does not take effect until September
• About 10 cars carry invited riders in limited area, with no one behind wheel

AUSTIN, (Reuters) – Tesla deployed a small group of self-driving taxis picking up paying passengers on Sunday in Austin, Texas, with CEO Elon Musk announcing the “robotaxi launch” and social-media influencers posting videos of their first rides. Continue reading “Tesla rolls out robotaxis in Texas test”

PARIS, (Reuters) – With Chinese automakers pushing into Europe, Stellantis and Renault are lobbying for a new, less-regulated category of small cars with fewer safety features, making them cheaper to build.

Over the last two months, Stellantis Chairman John Elkann and Renault CEO Luca de Meo have engaged in a rare public campaign to get the European Union to consider the matter. Continue reading “Fearing China’s small car rivals, Stellantis, Renault lobby EU for fewer rules”

(Reuters) – Tesla is expected to tiptoe into its long-awaited robotaxi service in Austin, Texas, as soon as Sunday with about 10 of its Model Y SUVs that will operate within strict limits. CEO Elon Musk has said the company is being “super paranoid” about safety and that humans will remotely monitor the fleet.

Remote access and control – known in the industry as “teleoperation” – is used in varying degrees by the handful of robotaxi startups operating around the globe. The technology has clear advantages and important limitations. Continue reading “How is Tesla expected to remotely control its robotaxis, and what are its limitations?”

(Reuters) – Japanese carmaker Toyota Motor Corp will raise prices of some vehicles it sells in the U.S. by more than $200 from July, Bloomberg News reported on Friday.

Some Toyota- and Lexus-branded models will have their prices increased by an average of $270 and $208, respectively, the report said, citing Nobu Sunaga, a spokesman for the company. Continue reading “Toyota to raise US auto prices by more than $200 from July, Bloomberg News reports”

Summary

• Stellantis hired McKinsey in early April
• Stellantis spokesperson says Maserati is not for sale
• Analysts urge streamlined brand portfolio for better profit margins

MILAN, (Reuters) – Stellantis is considering a possible sale of its struggling luxury Maserati unit, among other options, two sources with knowledge of the matter said, as the automaker seeks to overhaul its sprawling portfolio of 14 brands. Continue reading “Jeep maker Stellantis weighs sale among options for Maserati”

Source : PTI | Tata Motors is working with the government and is also taking steps to procure magnets from alternate sources in the wake of China restricting exports of rare earth elements, company Chairman N Chandrasekaran told its shareholders on Friday.

Responding to queries from shareholders on the impact of China’s move to restrict exports of rare earth elements and shortage of magnets, he said, “As of now, this is not a concern, but this is something that we are watching very carefully.” Continue reading “Tata Motors working with govt, looking alternate sources for magnets: Chairman N Chandrasekaran”

BEIJING, (Reuters) – A Xiaomi unit has won a tender to buy a plot of land in Beijing close to its existing car factory for 635 million yuan ($88 million), which it plans to use for a smart connected car and components project, a city regulator said on Thursday.

The win for a 50-year lease to the 485,134 square metre-large plot of land was announced by Beijing’s municipal planning and natural resources commission. Continue reading “Xiaomi unit wins land tender in Beijing for EV manufacturing”

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Source : OutLook | In a significant move to make its electric SUV more accessible, JSW MG Motor India has slashed the prices of the MG ZS EV by up to Rs. 6.14 lakh. With this revision, the Hyundai Creta EV rival now starts at Rs. 17.99 lakh (ex-showroom), positioning it more competitively in the growing electric vehicle market.

The updated price list covers five variants: Executive, Excite Pro, Exclusive Plus, 100-Year Edition, and Essence, with the top-spec Essence Dual Tone Iconic Ivory receiving the biggest price cut of Rs. 6.14 lakh. Here’s a look at the variant-wise new pricing and reductions: Continue reading “MG ZS EV Gets Up to Rs. 6.14 Lakh Price Cut; New Prices Start at Rs. 17.99 Lakh”

PARIS, (Reuters) – Stellantis has asked for 82,000 Citroen C3 and DS3 vehicles in France with faulty Takata airbags to be removed from roads, a company spokesperson said on Thursday, one week after a woman in Reims died from injuries sustained by one of the airbags in a 2014 Citroen C3.

All C3 and DS3 vehicles produced between 2014 and 2019 are now subject to the “stop drive” recall, the spokesperson said. To date, the company has repaired 481,000 cars in France with the airbags out of 690,000. Continue reading “Stellantis asks for thousands of Citroen cars with faulty airbags to be removed from roads”

BEIJING, (Reuters) – A Xiaomi unit has won a tender to buy a plot of land in Beijing close to its existing car factory for 635 million yuan ($88 million), which it plans to use for a smart connected car and components project, a city regulator said on Thursday.

The win for a 50-year lease to the 485,134 square metre-large plot of land was announced by Beijing’s municipal planning and natural resources commission. Continue reading “Xiaomi unit wins land tender in Beijing for EV manufacturing”

Summary

• EU and U.S. are seeking a trade deal by July 9
• Trump says EU has not yet offered a fair deal
• US sees 10% baseline rate for reciprocal tariffs
• Baseline 10% rate a ‘sticky issue’, EU official says

BRUSSELS, (Reuters) – European officials are increasingly resigned to a 10% rate on “reciprocal” tariffs being the baseline in any trade deal between the United States and the European Union, five sources familiar with the negotiations said. Continue reading “EU increasingly resigned to 10% baseline tariff in US trade talks, European sources say”

(Reuters) – Honda Motor-backed Helm.ai on Thursday unveiled its camera-based system to interpret urban environments, dubbed Helm.ai Vision, and said it was in talks with other automakers to deploy its self-driving technology in mass-market vehicles.

Helm.ai is working with the Japanese automaker to integrate its technology in the upcoming 2026 Honda Zero series of electric vehicles, which will allow users to drive hands-free and take their eyes off the road. Continue reading “Honda-backed Helm.ai unveils vision system for self-driving cars”

Source : PTI | The appellate tribunal NCLAT has directed the NCLT to hear and pass an order on the plea moved by former Gensol Engineering independent director Harsh Singh against the tribunal verdict for investigation against individuals associated with the company, including him.

The appellate tribunal, in its order passed on June 16, granted the former independent director two days time to file a vacation application for a stay of the order passed by the National Company Law Tribunal (NCLT).

Continue reading “NCLAT directs NCLT to hear, pass order on Gensol’s former ind Director plea”

Source : PTI | The Delhi High Court has restrained the infringement of the trademark of Swedish vehicle manufacturer, Volvo. In an order dated May 30, Justice Amit Bansal further restrained two transporters from the unauthorised use of the mark for their bus services. The Swedish vehicle maker filed a plea seeking a permanent injunction against the defendants from infringing its Volvo trademark.

The defendants, the plea alleged, were Udaipur-based Ganesh Motor Body Repairs, a manufacturer and fabricator that made buses nearly identical or deceptively similar to the original Volvo buses, Rishabh Bus Private Limited in Delhi, which purchased buses from the maker and lured customers for its inter-city bus services by advertising its fleet of buses as Volvo buses.

Continue reading “Delhi HC restrains infringement of Volvo trademark”