Summary

• Chinese brands gain legitimacy, challenging Western carmakers
• China-built megaport in Peru seen as gateway to the region
• EV sales still a small segment but Chinese firms see room to expand

MONTEVIDEO/LIMA, (Reuters) – When Peruvian green energy entrepreneur Luis Zwiebach wanted to buy an electric vehicle in 2019, he flew 4,000 miles to California to test drive Tesla’s Model 3 sedan. But Tesla lacked an official importer and he couldn’t find a way around Peru’s complex vehicle import procedures.

He was not deterred. “There was a gentleman who had already imported one and wanted to sell it,” Zwiebach said. “So I went to see it, and I bought it.” Continue reading “Electric vehicle sales are booming in South America — without Tesla”

Source : PTI | The next round of negotiations between India and Chile on the proposed free trade agreement is expected to be held in December, an official said.

The pact with the the South American nation may help India access critical minerals, which are key inputs for electronics, auto, and solar sectors. Continue reading “India, Chile to likely hold talks on proposed trade pact in December”

Source : PTI | Mahanagar Gas (MGL) on Monday said compressed natural gas supply to pumps in the financial capital will be restored by Tuesday noon.

Nearly 60 per cent, or 225 of the 389 CNG pumps supplying gas to the megapolis, are operational, the gas utility said in a statement. Continue reading “CNG supply to get restored by Tuesday noon, 60% pumps operational: MGL”

Source : PTI | Tyre maker MRF Ltd on Friday reported an 11.7 per cent rise in consolidated net profit from continuing operations at ₹525.64 crore in the second quarter ended September 30, 2025.

The company had posted a consolidated new profit from continuing operations of ₹470.7 crore in the same quarter last fiscal,

Consolidated revenue from operations in the second quarter stood at ₹7,378.72 crore, as against ₹6,881.09 crore in the corresponding period a year ago, it added. Continue reading “MRF Q2 net profit up 11.7% at ₹525.64 crore”

Source : PTI | Japanese two-wheeler major Yamaha expects exports from India to grow 25 per cent this year and is making its Chennai factory the export hub for global market, especially to advanced countries, according to a top company official.

The company, which exports to around 55 countries from India, will be exploring more international markets in a bid to increase exports from India, Yamaha Motor Co Ltd Senior Executive Officer and Yamaha Motor India Group Chairman, Itaru Otani told PTI. Continue reading “Expect export to grow 25% this year, making Chennai plant global hub: Yamaha Motor India”

SEOUL, (Reuters) – Hyundai Motor Group will invest 125.2 trillion won ($86.47 billion) in South Korea from 2026 to 2030, the automaker said on Sunday after Seoul finalised a trade deal reducing U.S. tariffs on South Korean autos to 15% from 25%.

That compares with investments by Hyundai Motor and its group affiliate Kia Corp of 89.1 trillion won from 2021 to 2025, according to the group. Continue reading “Hyundai Motor announces $86 bln investment in South Korea after US trade deal”

Summary

• Samsung to build new chip production line amid AI boom
• Hyundai, shipbuilders also announce investment plans
• South Korea finalises U.S. trade deal including $350 bln U.S. investments
• President Lee Jae Myung raises worries about domestic sector weakening

SEOUL, (Reuters) – Samsung Electronics , Hyundai Motor and other major South Korean manufacturers on Sunday unveiled domestic investment plans, as a U.S. trade deal raised concern investment in the U.S. could weaken manufacturing at home.

Samsung Electronics will add a chip production line at its plant in the South Korean city of Pyeongtaek to meet rising demand amid the global boom in artificial intelligence, as part of the parent group’s 450 trillion won ($310.79 billion) investments at home over the next five years, the company said. Continue reading “Samsung, Hyundai announce domestic investments after US-South Korea trade deal”

(Reuters) – Australia’s Syrah Resources said on Monday that it had agreed with Tesla to extend the deadline to tackle an alleged default of their graphite supply agreement for the second time in two months as the miner works to keep its U.S. operations buoyant.

The Elon Musk-led automaker issued a default notice in July after Syrah allegedly failed to deliver conforming active anode material samples from its Louisiana processing facility for Tesla’s electric vehicle batteries. Continue reading “Australia’s Syrah Resources, Tesla to further extend graphite supply deal deadline”

TOKYO, (Reuters) – S&P Global Ratings said on Friday it has downgraded its rating of Nissan Motor’s credit by one notch on continuing pressure on its profitability, while taking a negative view of the outlook for the Japanese automaker.

The credit-rating firm cut its long-term rating on the company and its overseas subsidiaries to “BB-” from “BB”. It noted that the company’s competitiveness in key markets and operational efficiency have diminished. Continue reading “S&P lowers Nissan’s rating to BB- from BB”

(Reuters) – Sweden’s Polestar on Friday said it would conduct a one-for-thirty reverse stock split of its American Depository Shares as the electric vehicle maker seeks to avoid a Nasdaq delisting.

The reverse split, which consolidates multiple shares into fewer, will not change the value of investors’ overall holdings but can mechanically lift the share price above $1 to regain compliance. Continue reading “Swedish EV maker Polestar announces one-for-thirty reverse stock split to maintain Nasdaq listing”

Summary

• Some suppliers told that BYD now prefers CP or bank notes for payments, sources say
• There has been regulatory pressure on automakers to shorten long payment times, improve practices
• Suppliers get less if they cash in BYD promissory notes early
• BYD says it has shortened payment times for suppliers

(Reuters) – China’s BYD has told some suppliers it wants to stop using in-house financial notes to pay them, people briefed on the matter said – a seismic shift away from a practice that helped power its rise but has been criticised for disadvantaging its parts makers.

BYD, one of the world’s biggest electric vehicle makers, now wants to use commercial paper or bank notes to pay suppliers rather than promissory notes issued on Dilian, an electronic platform it launched in 2018, the people said. Continue reading “BYD shifts away from in-house payment system that strained suppliers, sources say”

Summary

• Swiss machine maker lays off staff after US tariffs
• Pfiffner already struggling due to car industry woes
• Weak German, Chinese demand hits manufacturers

UTZENSTORF, Switzerland, (Reuters) – Norbert Steuer, a logistics worker at Swiss precision machinery maker K.R. Pfiffner, has been at the firm for over three decades. Now he is one of 80 out of 105 staff due to be let go as it reels from U.S. tariffs and a struggling auto industry.

The firm, which makes million-dollar machinery used by carmakers including Mercedes-Benz and suppliers such as Robert Bosch (ROBG.UL), is at the sharp end of a tough European car market that has been buffeted by U.S. President Donald Trump’s trade tariffs and a slowdown in key export market China. Continue reading “Swiss machine maker feels heat from auto sector slowdown, Trump’s tariffs”

Summary

• Cyberattack hits Q2 results
• China demand and luxury tax hurt sales
• JLR generates most of Tata Motors’ profits

(Reuters) – Tata Motors Passenger Vehicles cut its fiscal 2026 margin goal for Jaguar Land Rover on Friday after a cyberattack disrupted production at the luxury automaker, adding to pressure from soft demand in China and chip supply constraints.

JLR, which generates most of Tata Motors’ profits, is grappling with falling demand for premium cars in China and component shortages after chipmaker Nexperia B.V. warned it could no longer guarantee deliveries due to a political standoff between China and the Netherlands. Continue reading “Tata Motors cuts Jaguar Land Rover margin forecast after cyberattack, China woes”

(Reuters) – Chrysler-parent Stellantis is recalling 112,859 U.S. vehicles over possible engine failure or compartment fire, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Friday.

The NHTSA pointed to debris inside the engine as a cause but did not offer more details. Continue reading “Stellantis to recall nearly 113,000 US vehicles, NHTSA says”

Summary

• JAW determined to maintain wage momentum despite U.S. tariff impact
• Kaneko emphasizes wage hikes to sustain consumption and growth cycle
• BOJ monitors wage talks, auto sector crucial for interest rate decisions

TOKYO, (Reuters) – Japan’s top automobile industry union group has no plans to scale back its wage demands at labour talks next year despite a heavy drag on the sector’s earnings from U.S. tariffs, its chief told Reuters on Friday.

The comment from Akihiro Kaneko, president of the Confederation of Japan Automobile Workers’ Unions (JAW), underscores the determination of Japan’s most influential industrial umbrella union to keep wage momentum going into a fourth year. Continue reading “Japan’s automotive union group vows no retreat on wage demands despite tariff pain”

Summary

• Case involves fatal crashes in 2018 and 2019 that killed 346 people
• Boeing had agreed to plead guilty during Biden administration
• Judge said he had no authority to reject deal struck under Trump administration

WASHINGTON, (Reuters) – Families of some victims of two Boeing (BA.N), 737 MAX plane crashes that killed 346 people asked a U.S. appeals court on Thursday to reverse a judge’s decision to approve the Justice Department’s request to dismiss a criminal case against the planemaker. Continue reading “Crash victims’ families appeal US judge’s decision to dismiss Boeing criminal case”

SEOUL, (Reuters) – South Korea’s government said on Friday it would boost subsidies for electric vehicles (EVs) by 20% next year as part of a package to help the country’s auto industry weather risks caused by U.S. tariffs.

The government said in a statement passenger EV subsidies would be increased to 936 billion won ($658.47 million) in 2026, up from 780 billion won this year, in a bid to stimulate local demand. Continue reading “South Korea to boost EV subsidies in 2026 to help auto industry weather US tariffs”

Summary

• Roles to be cut mostly in sales and marketing
• Cuts formalised in October 16 agreement with CFDT union
• Nissan’s European sales slipped 8% over first financial half

TOKYO/PARIS, (Reuters) – Nissan will eliminate 87 positions at its European regional office in France, a company document and internal emails showed, as part of CEO Ivan Espinosa’s global restructuring and turnaround plan that includes a 15% cut in headcount. Continue reading “Nissan to cut jobs at European regional office as part of global overhaul”

(Reuters) – Toyota (7203.T), is recalling 126,691 Tundra and Lexus vehicles in the U.S. over manufacturing debris that may stall the engine, the U.S. National Highway Traffic Safety Administration said on Thursday. Continue reading “Toyota to recall over 126,000 US vehicles over engine stall risk”

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(Reuters) – Toyota is recalling 126,691 Tundra and Lexus vehicles in the U.S. over manufacturing debris that may stall the engine, the U.S. National Highway Traffic Safety Administration said on Thursday.

NHTSA said the remedy is under development and will be performed once available. Continue reading “Toyota to recall over 126,000 US vehicles over engine stall risk”

(Reuters) – Swedish autonomous trucking company Einride said on Wednesday it has agreed to go public in the U.S. through a merger with blank-check firm Legato Merger Corp III in a deal valuing the company at $1.8 billion.

The listing comes after a wave of electric-vehicle startups went public during the pandemic-era SPAC boom with the aim of capitalizing on the huge demand for clean-energy vehicles and government incentives for the purchase of battery-powered cars. Continue reading “Self-driving truck firm Einride to go public via SPAC deal at $1.8 billion valuation”

Summary

• Q3 net loss widens to $365 million from $323 million a year ago
• Revenue jumps 36% in Q3, but tariffs and costs hit margins
• Shares drop as much as 17%

(Reuters) – Polestar reported a wider third-quarter loss on Wednesday and said it would conduct a reverse stock split – reducing the number of its existing shares while increasing their value – in an attempt to retain its Nasdaq listing.

Shares in the company, majority-owned by China’s Geely Holding (GEELY.UL) and chair Li Shufu, dropped as much as 17% in early New York trading. Continue reading “Polestar’s losses widen, aims to keep Nasdaq listing with reverse stock split”

(Reuters) – Toyota Motor said on Wednesday it had begun production at its $13.9 billion North Carolina battery plant as it ramps up hybrid production and confirmed plans to invest $10 billion over five years in U.S. manufacturing.

The Japanese automaker first announced the plan in December 2021 to produce batteries for its hybrid and electric vehicles. Batteries from the plant are set to power hybrid versions of the Camry, Corolla Cross, RAV4 and a yet-to-be-announced all-electric three-row battery electric vehicle. The plant is producing hybrid batteries for factories in Kentucky and a Mazda Toyota joint venture in Alabama. Continue reading “Toyota opens US battery plant, confirms $10 billion investment plan”

(Reuters) – The share of subprime borrowers at least 60 days behind on their auto loans rose to 6.65% in October, the highest level on record, according to Fitch Ratings data going back to the early 1990s.

CONTEXT

Subprime borrowing refers to lending to consumers with lower credit scores or limited credit histories, who are considered higher risk and typically charged higher interest rates to offset the increased likelihood of default. Continue reading “Record number of subprime borrowers miss car loan payments in October, data shows”

Summary

• GM asks parts makers to gradually exit their China supply chains
• U.S.-China tensions prompt automotive supply chain shifts
• Rewiring supply chains from China is costly, complex

DETROIT, (Reuters) – General Motors has directed several thousand of its suppliers to scrub their supply chains of parts from China, four people familiar with the matter said, reflecting automakers’ growing frustration over geopolitical disruptions to their operations.

GM executives have been telling suppliers they should find alternatives to China for their raw materials and parts, with the goal of eventually moving their supply chains out of the country entirely, the people said. The automaker has set a 2027 deadline for some suppliers to dissolve their China sourcing ties, some of the sources said. Continue reading “Exclusive: GM wants parts makers to pull supply chains from China”

BEIJING, (Reuters) – Tesla’s sales in China dropped to 26,006 vehicles in October, their lowest in three years, as the U.S. electric vehicle maker struggles with tepid demand in the hyper-competitive market.

Sales fell 35.8% from a year earlier, down from September’s figure of 71,525 when Tesla began deliveries of the Model Y L, a longer-wheelbase and six-seat version of its best-selling Model Y SUV until now only available in China. Continue reading “Tesla’s China sales fall to 3-year low amid tepid demand”

BEIJING, (Reuters) – Chinese electric vehicle maker BYD aims to sell up to 1.6 million vehicles abroad next year, doubling down on overseas expansions with high double-digit growth from 2025, Citi said in a report on Tuesday.

Overseas sales guidance of 1.5-1.6 million vehicles is up from an expected 900,000 to 1 million vehicles sold outside China in 2025, “with growth driven by new model launches,” the Citi note said, citing a meeting with BYD management on Tuesday. Continue reading “China’s BYD aims to sell up to 1.6 million vehicles abroad in 2026, Citi says”

Summary

• Other investors have also asked for more disclosure
• Proposed buyout would give Toyoda family more influence within the group
• Elliott says one of Toyota Industries’ biggest shareholders

TOKYO, (Reuters) – Toyota Motor’s planned buyout of group firm Toyota Industries is set to face more hurdles after activist investor Elliott Investment Management said it had bought a significant stake in the forklift manufacturer.

Elliott said in a statement that the proposed deal undervalued the company, lacked transparency and fell short of proper governance practices. Other global investors have also asked for more disclosure of the deal that would strengthen the influence of the founding Toyoda family within the group. Continue reading “Toyota’s buyout of group firm faces new obstacle after Elliott takes stake”

Source : PTI | Bike taxi aggregator Rapido expects to start working on the process for public listing by the end of next year, a top company official said.

Rapido cofounder Aravind Sanka told PTI that the company expects to maintain its growth rate of 100 per cent year-on-year for the next few years and be a much larger player compared to its nearest competitor before going for the initial public offering (IPO). Continue reading “Rapido expects to start working on IPO by 2026-end: Cofounder Aravind Sanka”

(Reuters) – Tesla’s head of the Cybertruck program, Siddhant Awasthi, said late on Sunday that he is leaving the U.S. electric vehicle maker after more than eight years with the company.

Awasthi, who began his Tesla journey as an intern, most recently oversaw the Cybertruck program from its engineering phase to large-scale production, leading efforts in product strategy, quality enhancements, and supply chain management, according to his LinkedIn profile. Continue reading “Tesla’s Cybertruck chief Siddhant Awasthi departs after eight years”

(Reuters) – Grab Holdings will invest $60 million in remote driving firm Vay Technology, the Singaporean firm said on Monday, sending its shares up more than 6% in premarket trading.

The company is trying to leverage its ride-hailing platform to tap into autonomous vehicles, which are largely seen as the future of mobility and a potential disruptive force for companies such as Grab and Uber. Continue reading “Singapore’s Grab to invest $60 million in remote driving firm Vay”

BEIJING, (Reuters) – China suspended for one year port fees levied on U.S.-linked vessels, its transport ministry said on Monday, after Washington announced a similar pause on punitive actions against China’s shipping and shipbuilding sectors.

The reciprocated pauses were in line with agreements reached by U.S. President Donald Trump and Chinese President Xi Jinping during a summit in South Korea last month. Continue reading “China suspends port fees on US-linked ships for a year”

(Reuters) – Tesla board chair Robyn Denholm thanked the electric-vehicle maker’s shareholders on Monday for approving CEO Elon Musk’s $878 billion pay package.

The approval marks one of the largest compensation votes in corporate history and underscores investor willingness to bet on Musk’s leadership as Tesla pursues its next phase of growth. Continue reading “Tesla chair thanks investors for approving Musk’s $878 billion pay package”

Summary

• Renault considers Chinese stator supplier for cost saving
• Motor to be made in France, even if uses Chinese component
• Valeo still developing magnet-free motor with Germany’s Mahle

PARIS, (Reuters) – France’s Renault has ended a project with Valeo to develop a new rare-earth-free electric vehicle motor and is looking instead for a cheaper Chinese supplier, two sources familiar with the matter told Reuters.

Automakers including Renault, General Motors and BMW suppliers such as ZF, BorgWarner and Valeo have been developing EV motors which do not require rare earths. Continue reading “Exclusive: Renault seeking Chinese rare-earth-free motor supplier, sources say”

(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”