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Union Budget 2026 Highlights | Key Announcements, Tax Changes & Reforms WAF Continue reading “WAF Auto News | The Auto World This Week (06th February 2026)”
Summary
CAMACARI, (Reuters) – Chinese automaker BYD is aiming to produce and source 50% of its vehicle components locally at its new Brazilian factory by the end of 2026, the company’s top executive in the country told Reuters, amid concerns about the EV giant undercutting the local industry.
Senior Vice President Alexandre Baldy said in an interview this week at the plant in Bahia state that BYD is transitioning to a local supply chain as quickly as possible, with the aim of becoming Brazil’s top carmaker in sales volumes by 2030. Continue reading “Exclusive: BYD shifts to local parts in Brazil factory in bid for market leadership”
Summary
TOKYO, (Reuters) – Toyota Motor is expected to report a third straight decline in quarterly operating profit on Friday, as rising costs and U.S. import tariffs weigh on earnings despite record global vehicle sales and strong demand for hybrids.
The world’s best-selling automaker is forecast to post operating profit of 1.09 trillion yen ($6.95 billion) for the October-December quarter, down 10% from a year earlier, the average estimate of seven analysts surveyed by LSEG showed. Continue reading “Toyota expected to post third straight quarterly profit drop as costs, tariffs bite”
India’s mobility landscape is witnessing a quiet but powerful disruption — not driven by venture capital alone, but by cooperation, inclusion, and collective ownership. The launch of Bharat Taxi, a cooperative cab platform joined by over 3 lakh drivers and inaugurated by Union Home Minister Amit Shah, marks a historic moment in the evolution of India’s gig economy.
Unlike conventional ride-hailing platforms dominated by private corporations, Bharat Taxi represents a driver-owned, cooperative digital mobility model — aligned with the Government of India’s vision of Sahakar se Samriddhi (Prosperity through Cooperation).
Tata Motors Passenger Vehicles Limited (formerly Tata Motors Limited) Consolidated Q3 FY26 Results
JLR CYBER INCIDENT IMPACT CARRIED OVER IN Q3 RESULTS, POISED FOR STRONG RECOVERY IN Q4
Consolidated Revenue ₹70.1K Cr (-25.8%), EBITDA at ₹1.5K Cr,
PBT (bei) ₹(3.1)K Cr (-9.2K Cr), Free Cash Flows ₹(17.9)K Cr (vs PY)
Mumbai, February : Tata Motors Passenger Vehicles Ltd. (TMPVL) announced its results for quarter ending December 31, 2025. Continue reading “Tata Motors Passenger Vehicles Ltd. Consolidated Q3 FY 26 Results”
Announces further democratisation of features across the range with more variants, greater choice and unmatched value
Mumbai, February 03, 2026: Škoda Auto India, after registering its most successful year of sales in 2025 and introducing the new Kushaq, continues to keep its foot on the pedal with its growing product portfolio. The brand has furthered its strategy to democratise European technology on Indian roads by expanding the variant mix of its best-selling car, the Kylaq, and offering customers more variants, more choice and more value.
The Kylaq has emerged as a strong pillar of Škoda Auto’s growth story in India. With over 50,000 units sold since its launch, the Kylaq has been a major contributor to Škoda Auto India’s best-ever sales performance, in the brand’s 25th year in the country. The Kylaq’s combination of safety, driving dynamics, technology, and value has resonated strongly with customers, establishing it as a key contender in the sub-4m SUV segment. Continue reading “Kylaq marks 1 year landmark by celebrating 50k sales”
Source : PTI | New Delhi, Ride-hailing platform Uber on Wednesday said it has appointed Indian-origin Balaji Krishnamurthy as its chief financial officer.
Krishnamurthy has been with Uber for more than six years and will assume his new role from February 16, following the resignation of the present chief financial officer Prashanth Mahendra-Rajah.
“Prashanth Mahendra-Rajah, Chief Financial Officer, will step down from his role on February 16, 2026. Balaji Krishnamurthy, currently Vice President, Strategic Finance, will assume the role of Chief Financial Officer on that date,” the company said in a regulatory filing. Continue reading “Uber appoints Balaji Krishnamurthy as its CFO”
Source : PTI | There are around 5.9 crore FASTags active across the country, of the total 11.86 crore FASTags issued so far, Union Minister Nitin Gadkari said on Wednesday.
FASTag is an RFID passive tag used for making toll payments directly from the customer’s linked prepaid, savings, or current account.
Presently, more than 98 per cent of user fee on National Highways is collected through electronic toll collection system, the Union Minister for Road, Transport and Highways said in a written reply to the Rajya Sabha. Continue reading “Around 5.9 crore FASTags active in country against 11.86 cr issued so far: Nitin Gadkari”
JSW MG Motor India opened calendar year 2026 on a steady growth trajectory, delivering 4,843 wholesale units in January — representing approximately 9 % year-on-year sales growth compared with the same month in 2025.
While not among the largest mainstream volume players in the broader Indian passenger vehicle market, MG’s performance stands out within several key dynamics:
Continue reading “JSW MG Motor India: A Strategic Start to 2026”
Source : PTI | Investments in high-speed rail corridors and promotion of electric vehicles announced in the Union Budget will play a key role in reducing pollution in the national capital while strengthening connectivity and infrastructure, Delhi minister Manjinder Singh Sirsa said on Wednesday.
Calling the Budget forward-looking, Sirsa said, “This Union Budget marks a new phase in the country’s economic journey and reflects a farsighted vision to achieve Viksit Bharat 2047.”
He added that it addresses key challenges such as pollution, connectivity and inclusive growth. Continue reading “Union Budget rail, EV push to reduce Delhi pollution: Manjinder Sirsa”
COPENHAGEN, (Reuters) – Sweden-based Volvo Cars sold 177,830 cars in the November-January period, down 7% from the same period a year earlier, it said on Wednesday.
Volvo Cars, which is majority-owned by China’s Geely Holding, said in a statement sales volumes for fully electric models rose 13% to account for 24% of all cars sold in the period.
Meanwhile, sales of electrified cars as a whole, also including plug-in hybrids, were down 2%. Continue reading “Volvo Cars’ sales volumes drop 7% in November-January period in challenging market”
Summary
BEIJING, (Reuters) – Tesla China-made electric vehicle sales rose for a third-straight month in January, even as China’s EV sales and exports were slow amid weak domestic demand.
Deliveries of Model 3 and Model Y vehicles made at Tesla’s Shanghai plant, including exports to Europe and other markets, were up 9.3% from a year-ago period, extending gains for a third consecutive month, data from the China Passenger Car Association showed on Wednesday. Continue reading “Tesla’s China-made EV sales extend gains despite industry slowdown”
BEIJING, (Reuters) – Automakers in China are extending repayment terms for customers to as long as eight years to woo consumers amid stagnant demand in the world’s largest auto market.
Nissan’s joint venture with Dongfeng joined at least 10 other car brands, including Xpeng, Xiaomi and Geely, on Tuesday in offering longer-term low-interest financing plans, according to Reuters’ checks.
Dongfeng Nissan’s eight-year plan requires zero down payment and advertised that customers buying its Sylphy Classic model would only need to make a daily repayment of as low as 27 yuan ($3.89), roughly the amount to buy a coffee per day. Continue reading “Automakers in China roll-out longer-term financing plans to spur demand”
Summary
(Reuters) – Uber Technologies backed its capital-intensive, early-stage autonomous vehicle strategy on Wednesday even as its profit took a hit from its push for affordable rides and higher taxes, sending the shares of the ride-hailing company down 5%.
The company said it was committing capital to vehicle partners to secure early supply and speed up deployments as its plaform has a structural advantage, while working with banks and private equity firms to finance most of the autonomous fleets. Continue reading “Uber pushes robotaxi plans even as cheaper rides, higher taxes dent profit”
Summary
(Reuters) – Ford and China’s Geely (GEELY.UL) are in discussions about a potential partnership, eight people with knowledge of the ongoing talks said, as the world’s carmakers look to share heavier technology and manufacturing costs.
The companies are in talks to have Geely use Ford factory space in Europe to produce vehicles for the region, three people familiar with the matter said. They also have discussed the potential framework for shared vehicle technologies, including for automated driving, according to two different people with knowledge of the talks. Continue reading “Exclusive: Ford and Geely in talks for manufacturing, technology partnership, sources say”
Source : PTI | EV major Tesla India on Tuesday said it has launched various initiatives, including an EMI scheme, to lift weak sales in the country.
To encourage customers switching from the petrol and diesel cars to electric, Tesla said it is offering ₹3 lakh exchange incentive.
Besides, customers can now purchase the Model Y at a monthly installment starting from ₹49,000, with a down payment of just ₹6 lakh significantly lowering the barrier to entry for premium electric vehicles, it added. Continue reading “Tesla India takes EMI, exchange incentive route to boost sales”
(Reuters) – Elon Musk’s SpaceX has acquired his artificial intelligence startup xAI in a deal that unifies the billionaire’s AI and space ambitions by combining the rocket-and-satellite company with the maker of the Grok chatbot.
The deal, which reportedly values SpaceX at $1 trillion and xAI at $250 billion, comes as the rocket company plans a blockbuster initial public offering this year that could take place as soon as June, Reuters has reported. Continue reading “Mega IPOs in focus after Musk’s SpaceX acquires xAI”
(Reuters) – Elon Musk said on Monday SpaceX has acquired his artificial intelligence startup xAI in a record-setting deal, unifying the billionaire’s AI and space ambitions by combining the rocket-and-satellite company with the maker of the Grok chatbot.
The deal, first reported by Reuters last week, represents one of the most ambitious mergers in the technology sector yet. It values SpaceX at $1 trillion and xAI at $250 billion, a person familiar with the matter said. Continue reading “SpaceX acquires xAI: Key facts about the Musk-owned startups”
BEIJING, (Reuters) – China will ban ‘hidden’ car door handles from 2027, becoming the first country to phase out a design pioneered by Tesla and adopted by Chinese competitors including Xiaomi.
The hidden handle design, which functions through a key fob or mobile phone or by manually pressing it, has drawn scrutiny in both the United States and China over potential safety risks. Continue reading “China to ban ‘hidden’ car door handles to address safety fears”
Summary
WASHINGTON, (Reuters) – Self-driving company Waymo on Wednesday will defend its safety record before the U.S. Senate Commerce Committee after federal agencies opened investigations into a vehicle striking a child near an elementary school and incidents involving robotaxis driving past were loading or unloading parked school buses. Continue reading “Waymo to defend self-driving safety record, warn on China”
Source : PTI | Customs duty exemption on goods used to produce lithium batteries would enable creation of a robust electric vehicle infrastructure in the country, automobile industry body SIAM said on Sunday.
Finance Minister Nirmala Sitharaman, while delivering Budget speech, proposed to extend the basic customs duty exemption given to capital goods used for manufacturing lithium-ion cells for batteries, to those used for manufacturing lithium-ion cells for battery energy storage systems too.
Continue reading “Customs duty exemption on lithium batteries to aid EV infra creation: Industry”
Source : PTI | The Indian tyre industry stands to gain from the government’s steps to enhance spending on infrastructure announced in the Union Budget 2026-27, Automotive Tyre Manufacturers Association (ATMA) said on Monday.
The tyre sector is closely linked to the performance of the transport and infrastructure ecosystem and the substantial increase in public capital expenditure to ₹12.2 lakh crore is a significant positive for long-term demand growth, ATMA said in a statement.
Continue reading “Public capex, infra development focus in Budget to help tyre industry: ATMA”
Source : PTI | The focus in the Union Budget 2026-27 on scaling manufacturing in strategic sectors, building value chain in critical minerals and rare earths will be vital enablers for the future of electric vehicles, electronics and next-generation mobility, according to industry players.
Finance Minister Nirmala Sitharaman had proposed dedicated corridors in mineral-rich states like Odisha and Tamil Nadu and import duty exemption on capital goods needed for processing critical minerals to boost mining and processing activities.
Source : PTI | CIAL is set to create a national first by introducing hydrogen-powered buses for passenger transportation, marking a major step towards clean and green mobility in the aviation sector.
The move follows the exchange of a Memorandum of Agreement (MoA) between the Kerala Hydrogen Valley Innovation Cluster Foundation and Cochin International Airport Ltd (CIAL) on February 1.
The agreement paves the way for the procurement and operation of three hydrogen fuel cell electric buses at Kochi airport, a CIAL release said here on Monday. Continue reading “Kochi airport to run India’s first hydrogen-powered passenger buses”
BRUSSELS, (Reuters) – Electric vehicles are likely to make up 85% of new car sales in the EU from 2035, based on its plans to drop an effective ban on new combustion-engine models, although that share could drop as low as 50%, clean transport advocacy group T&E said.
Under pressure from carmakers, the European Commission in December proposed a 90% cut in CO2 emissions in 2035 from 2021 levels, instead of zero for all new cars and vans.
T&E has criticised the EU’s biggest retreat from its green policies in years, saying the proposals will allow continued sales of high CO2-emitting vehicles, while Chinese producers race further ahead in battery electric vehicles (BEVs). Continue reading “EU proposals set to limit EV sales from 2035, says campaign group”
SEOUL, (Reuters) – South Korean automaker Hyundai Motor did not exercise a buyback option for its former manufacturing plant in Russia, the company said on Monday, amid the continuing war in Ukraine.
Along with its affiliate Kia, Hyundai was once the biggest foreign carmaker in Russia.
However, Chinese brands have gained significant market share over the past four years, as South Korean and other carmakers suspended local production after Moscow’s invasion of Ukraine provoked Western sanctions and disrupted supply chains and payments. Continue reading “Hyundai Motor did not exercise option to buy back Russian auto factory”
Summary
WASHINGTON, (Reuters) – California’s proposed $200 million electric vehicle incentive program will be limited to first-time buyers and require participating manufacturers to contribute matching incentives, the administration of California Governor Gavin Newsom said on Monday.
The proposal would allow incentives to defray the upfront purchase costs for new or used EVs but the incentive amounts have not yet been announced. Eligible vehicles will face price caps adopted by Congress in 2022. Continue reading “California’s $200 million EV incentive program to require matching funds from automakers”
(Reuters) – Investors in Elon Musk’s xAI will receive 0.1433 shares of SpaceX for every share of xAI as part of the satellite company’s purchase of the billionaire entrepreneur’s artificial intelligence company, a source familiar with the matter said on Monday.
As part of the deal, some xAI executives may also opt for cash instead of SpaceX stock, receiving $75.46 per share for each xAI share, the source added.
SpaceX was not immediately available for comment. Continue reading “Exclusive: SpaceX, xAI set share exchange ratio at 0.1433, source says”
TOKYO, (Reuters) – Japan’s Denso, a major auto parts supplier to Toyota, slashed its full-year operating profit forecast by nearly a fifth, reflecting a drag from U.S. import tariffs and a hit from rising material and fixed costs.
The company cut its forecast for the fiscal year ending in March by 17.8% to 535 billion yen ($3.44 billion) from a previous estimate of 651 billion yen.
The world’s second-largest maker of vehicle parts generates about 56% of its revenue from Toyota group companies. Continue reading “Toyota supplier Denso slashes full-year operating profit forecast on higher costs”
(Reuters) – Alphabet (GOOGL.O) unit Waymo said it had raised $16 billion in its latest fundraising round that valued the self-driving car startup at $126 billion, nearly tripling its valuation in less than two years.
As one of the most sought-after applications of artificial intelligence, leading autonomous vehicle companies are investing heavily in commercializing their technology, with a focus on safety and regulatory collaboration to gain market share. Continue reading “Waymo valued at $126 billion in latest financing as robotaxis gather steam”
India’s economic trajectory marked with stability, fiscal discipline, fiscal prudence, structural reforms, aatmanirbhar bharat. These efforts delivered high growth rate of 7% with employment generation. India continues to take higher steps to expand trades, boost growth, macro economic stability.
PM made proposals for this Yuva Shakti Budget.
This is first budget prepared in kartavya bhawan with three kartavyas
First kartavya to accelerate sustainable economic growth and build resilience
Second kartavya to fulfill aspirations of people by making strong partners
Third kartavya is sabka saath sabka vikas – every family has access to meaningful resources. Continue reading “Union Budget 2026 Highlights | Key Announcements, Tax Changes & Reforms”
Summary
WASHINGTON, (Reuters) – The U.S. Transportation Department said Friday it plans to propose rolling back fuel economy standards for heavy-duty pickup trucks and vans, the latest effort to unwind stringent vehicle standards set by former President Joe Biden.
In 2024, Biden’s administration finalized rules to require heavy-duty pickup trucks and vans to increase fuel efficiency by 10% per year for model years 2030-2032 and 8% per year for model years 2033-2035. Continue reading “US to propose unwinding Biden-era heavy truck fuel economy rules”
NEW YORK, (Reuters) – SpaceX generated about $8 billion in profit on $15 billion to $16 billion of revenue last year, two people familiar with the company’s results said, providing fresh insight into the financial health of Elon Musk’s space company that is expected to go public later this year.
SpaceX’s most recent financials, which have not been previously reported, led some banks to estimate that the company could raise more than $50 billion at a valuation exceeding $1.5 trillion, said the people, who asked not to be named to discuss private conversations.
Reuters reported on Thursday that SpaceX is also in talks with Musk’s artificial intelligence company, xAI, about a merger ahead of the IPO. Continue reading “Exclusive: SpaceX generated about $8 billion in profit last year ahead of IPO, sources say”
Summary
(Reuters) – Elon Musk fans and the man himself have long mused about Musk Inc, a merger of companies owned by the world’s richest man. But with SpaceX expected to go public later this year, and Tesla facing a challenging transition from human-driven EVs to robotaxis and robots, even some proponents of a sprawling Musk conglomerate want to start smaller.
Reuters reported on Thursday that SpaceX is close to a deal to buy xAI, a move that would pave the way for Musk’s plans to launch data centers in space, which he calls the best place for the power-hungry machines. Continue reading “Combining SpaceX with xAI may be simple for Musk Inc, but Tesla isn’t so easy”
New Delhi : The Board of Directors of Maruti Suzuki India Limited (MSIL) today approved the financial results for the third Quarter (October-December) FY2025-26.
Highlights: Q3 (October-December), FY 2025-26
Owing to the GST reform, there was a sharp recovery in the Indian car market, primarily led by the small car segment. The Company achieved its highest-ever Quarterly domestic sales of 564,669 units as compared to 466,993 units in Q3 the previous year, an increase of 97,676 units. Out of this increase, the small car segment in the 18% GST bracket accounted for 68,328 units. The Company clocked record total sales of 667,769 units including exports of 103,100 units. In the same period last year, the total sales were at 566,213 units, comprising domestic sales of 466,993 units and exports of 99,220 units. Continue reading “Maruti Suzuki India Limited Financial Results Q3 and 9M FY 2025-26”
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A joint venture of Kirloskar Systems, TSSF Group, and Toyota Kirloskar Motor, launches a new customer-centric service platform.
Bengaluru, 29th January 2026: Toyota Kirloskar Sundaram Automotive Solutions Pvt Ltd today announced the inauguration of “TSERV Select” , its first multi-brand retail service outlet in Bengaluru. Toyota Kirloskar Sundaram Automotive Solutions Pvt Ltd is a joint venture between Kirloskar Systems Pvt Ltd, Trichur Sundaram Santhanam Family (TSSF Group), and Toyota Kirloskar Motor Pvt Ltd (TKM).
The new company has been established in response to the continued growth of the Indian automobile market and evolving customer expectations, with rising demand for organized, transparent, and trusted service solutions across brands. Despite this expanding demand, a significant portion of India’s automotive servicing market remains fragmented and unorganized, presenting a huge opportunity to serve customers. Toyota Kirloskar Sundaram Automotive Solutions will offer comprehensive multi-brand vehicle service solutions, supported by trained technicians, robust quality systems, and customer-centric processes. Continue reading “Toyota Kirloskar Sundaram Automotive Solutions inaugurates first “TSERV Select” multi-brand service outlet in Bengaluru”
(Reuters) – Chinese robovan developer Zelostech said on Thursday that e-commerce giant Alibaba’s logistics arm, Cainiao, will take a stake in the company.
The deal will create a business valued around $2 billion, the Wall Street Journal, which first reported the news, said.
A spokesperson for the robovan developer said “Cainiao will not become a controlling shareholder of Zelostech.” Continue reading “Alibaba’s logistics arm to buy stake in Chinese robovan developer Zelostech”
WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration said Thursday it is opening an investigation after a Waymo self-driving vehicle struck a child near an elementary school in Santa Monica, California last week, causing minor injuries.
The auto safety agency said the child ran across the street on January 23 from behind a double parked SUV towards the school and was struck by the Alphabet-unit Waymo autonomous vehicle during normal school drop off hours. The agency said there were other children, a crossing guard, and several double-parked vehicles in the vicinity. Continue reading “US opens probe after Waymo self-driving vehicle strikes child near school, causing minor injuries”
LONDON, (Reuters) – Tesla shares rose 1.8% in Frankfurt on Thursday, a day after the company said it will invest $2 billion in CEO Elon Musk’s artificial-intelligence company xAI and that production plans for its Cybercab robotaxi were on track for this year.
The move was roughly in line with where Tesla’s U.S. shares ended in after hours trading. They had initially risen about 3.5% in after-hours trading, but pared gains following details of Tesla’s capital expenditure plans. Continue reading “Tesla shares up 1.8% in Frankfurt day after results”
