Summary

• Profit falls 19% to 32.6 billion yuan, missing analyst view
• Revenue growth 3.5%, weakest in six years
• Headcount shrinks by 10% in 2025
• Slips to fourth place in China in Jan-Feb from top in 2025

BEIJING, (Reuters) – BYD , China’s biggest electric automaker by sales, on Friday ​posted a bigger-than-expected profit drop and disclosed a headcount fall for the first time, hurt by weak sales in its home market.

Net profit ‌fell 19% to 32.6 billion yuan ($4.72 billion), BYD said in a stock exchange filing, its first annual profit drop in four years and steeper than an average 12.1% fall expected by analysts polled by LSEG. Continue reading “BYD’s annual profit drops for first time in four years as price war hurts margins”

Source : PTI | The government on Friday said it has disbursed incentives worth ₹15,554 crore so far under the production-linked incentive scheme (PLI) for the electronics sector.

In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Jitin Prasada said that under the automobiles and auto components sector, about ₹2,377.56 crore of incentives have been disbursed so far. Continue reading “Govt disburses PLI incentives worth ₹15,554 cr for electronics sector”

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Source : PTI | New Delhi: Around 8,000 tonnes per annum of green hydrogen production capacity has been commissioned in India till February 2026, Parliament was informed on Wednesday.

The government has set a target of 5 Million Metric Tonnes per annum by 2030 under the National Green Hydrogen Mission (NGHM).

“Around 8,000 tonnes per annum of green hydrogen production capacity has been commissioned in India till February 2026,” Minister of State for New and Renewable Energy Shripad Naik said in a written reply to the Rajya Sabha. Continue reading “India commissions 8,000 tonnes per annum of green hydrogen production capacity till Feb 2026”

Source : PTI | The Maharashtra State Road Transport Corporation (MSRTC) has reintroduced 3×2 seating buses into its fleet after nearly two decades, officials said.

The buses have a 3×2 seating configuration with a total capacity of 56 seats, higher than conventional models, aimed at improving passenger comfort and efficiency, they said. Continue reading “Maharashtra re-introduces 3×2 seating buses; Fadnavis launches new service”

MEXICO CITY, (Reuters) – The union ​representing workers at ‌a General Motors plant in Silao, ​Mexico has ​proposed a 10% salary ⁠increase for ​the 2026-2028 contract, ​union leader told Reuters on Wednesday.

Alejandra Morales, ​head of ​SINTTIA, said workers will vote ‌on ⁠the proposal April 9 and 10. The ​union ​has ⁠set a strike deadline for ​April 15 ​if ⁠an agreement with management is ⁠not ​met. Continue reading “A Lyft rideshare driver passes through the Second Street Tunnel”

(Reuters) – Ride-hailing company Lyft said on Wednesday it will roll out a temporary driver-relief program ​in the United States, as higher gasoline ‌prices squeeze earnings for gig workers.

A sharp rise in fuel costs, driven by energy supply disruptions linked ​to the ongoing U.S.-Israeli conflict with Iran, ​is hurting gig workers. Continue reading “Lyft rolls out driver-relief program as US fuel prices climb”

Summary

• Porsche SE reports 9% decline in 2025 adjusted earnings after tax
• Hundred million euro investment announced in defence fund
• Porsche SE says committed to Volkswagen

BERLIN, (Reuters) – Porsche ​SE announced increased investments in defence on Thursday after bearing the brunt of a drop in ‌2025 earnings at its core investments Volkswagen and Porsche AG.

Conflicts in Ukraine and the Middle East have driven investor interest in the defence and technology stocks, while it has declined in Germany’s weakened automotive sector. Continue reading “Volkswagen’s biggest investor increases defence focus after earnings slump”

(Reuters) – Uber Technologies has partnered with Pony.ai and autonomous vehicle startup Verne to roll out the first commercial ​robotaxi service in Europe, with operations set to ‌start in the Croatian capital Zagreb.

Under the deal, Chinese robotaxi firm Pony.ai will supply the autonomous driving technology, while Croatian ​startup Verne will serve as the fleet owner ​and manage day-to-day operations, the companies said on ⁠Thursday. Continue reading “Uber, Pony.ai and Verne team up to launch Europe’s first robotaxi service in Croatia”

SEOUL,(Reuters) – Hyundai Motor on Thursday said it would seek to more than double its China sales in the medium ​term and it planned to launch ​36 new models in the North ⁠American market by 2030.

Here are some details: Continue reading “Hyundai Motor aims to double China sales, launch 36 new models in North America”

Summary

• Iran war disrupts oil trade, boosting petrol prices
• Used EV sales rise across Europe amid high fuel costs
• EV makers highlight cost of petrol in marketing

PARIS/STOCKHOLM, (Reuters) – Petrol price spikes triggered by the war in Iran are boosting used electric vehicle sales across Europe, online car platforms told Reuters, in an early sign that ​pain at the pump is pushing consumers away from combustion engines.

“There is currently an electric car bonanza in the used market,” said Terje Dahlgren, ‌an analyst at Norway’s largest used-car marketplace Finn.no, adding that EVs have recently overtaken diesel models as the site’s best-selling fuel type. Continue reading “Used EV sales jump in Europe as Iran war drives up petrol prices”

SEOUL, (Reuters) – General Motors which received a South Korea government rescue package in ​2018 to stay in the Asian country, said on ‌Wednesday it plans to invest $600 million in its local unit to upgrade manufacturing facilities and products.

The U.S. automaker is adding a $300 million investment to another $300 million ​spending plan announced in December, it said.

The investment will go ​towards modernising its two plants in South Korea by adopting ⁠the latest models of press machines, GM said. The funds ​will also be spent on upgrading production capabilities, improving product quality and ​boosting technological competitiveness for small-size sport utility vehicles at its plants in South Korea. Continue reading “GM to invest $600 million in its South Korean unit”

BERLIN, (Reuters) – Czech carmaker Skoda, which is owned by Volkswagen , will withdraw from the Chinese market by ​mid-2026 after struggling to keep up in the ‌region’s rapid shift towards electric vehicles, the company said on Wednesday.

After serving as Skoda’s largest market for years with deliveries ​of over 300,000 between 2016 and 2018, ​sales in China dwindled to just 15,000 last ⁠year, as foreign automakers face tough competition from local ​brands. Continue reading “Volkswagen’s Skoda brand to end China sales this year”

Source : PTI | Data and intelligent systems will play a major role in the coming years, as they enable vehicles to improve regularly, offer data-based services, and create new revenue opportunities even after purchase for manufacturers, according to a top official of electric mobility firm Matter Motor.

The company’s founder and Group CEO Mohal Lalbhai said the auto industry is moving beyond traditional mechanical systems and the next step is software-defined mobility, where intelligence sits at the centre and keeps improving the vehicle over time.

Continue reading “Data, intelligent systems to create add’l revenue opportunities for auto sector: Matter Motor”

(Reuters) – Toyota is recalling 144,200 vehicles ​in the U.S. as ‌rearview camera images may not display when ​the vehicle ​is placed in reverse, increasing ⁠the risk ​of a crash, the ​U.S. National Highway Traffic Safety Administration said on ​Wednesday.

Here are some ​details:

The recall includes certain 2022-2025 ‌Lexus ⁠NX350, NX250, 2023-2026 RX350, and 2024-2026 TX350 vehicles, according ​to ​the ⁠NHTSA. Continue reading “Toyota to recall over 144,000 U.S. vehicles over rear view camera issue, NHTSA says”

March 24 (Reuters) – Greetings from London!

We’re still only a few weeks into the war with Iran, though to carmakers and consumers alike it already feels longer – and far longer to those living in the firing line in the Gulf.

While a few weeks make it hard to gauge the impact on new car sales, a prolonged spike in fuel prices could push more consumers towards electric vehicles. Continue reading “EV envy – US car buyers want the Chinese models they can’t have”

Summary

• ZYT set to unveil autonomous drive system at Beijing auto show
• ZYT says ‘foundation’ AI model makes it competitive in next-gen self-driving systems
• Company partners with China’s biggest trucking companies
• Targets Hong Kong IPO possibly in 2027

SHENZHEN, (Reuters) – The chief executive of Chinese autonomous drive startup ZYT says the AI system his company is about to debut is already a better driver than ​he is on the crowded streets of Shenzhen.

ZYT, a spin-off from Chinese drone maker DJI, will demonstrate what it calls a “mobility foundation model” at the Beijing auto show ‌in April. It’s a system CEO Shen Shaojie, 39, describes as a cost-saving departure from the way autonomous drive systems have been built and trained. Continue reading “Exclusive: ZYT readies AI that can outdrive its own CEO on Shenzhen streets”

BERLIN, (Reuters) – Volkswagen is ​recalling nearly 100,000 electric vehicles, ‌of which some 28,000 are in Germany, citing problems linked to battery modules, according ​to the German motor ​vehicle authority KBA.

The recall notices affect ⁠nearly 75,000 vehicles from Volkswagen’s ​ID. series as well as nearly ​20,000 Cupra Borns that were rolled off the line between February 2022 and August ​2024. Continue reading “Volkswagen recalls nearly 100,000 EVs over battery issues”

(Reuters) – Ford Motor is ‌recalling 254,640 SUVs in the U.S. over software issues that may result in ​the loss of rearview ​camera image and some advanced ⁠driver assistance (ADAS) features, the ​U.S. National Highway Traffic ​Safety Administration said on Tuesday.

Here are some details:

• The recall includes ​Lincoln Navigator, Lincoln Nautilus, ​Lincoln Aviator and Ford Explorer SUVs, ‌according ⁠to the NHTSA.
• An unexpected reset of an image processing software may cause ​loss ​of ⁠ADAS features like pre-collision assist, lane-keeping ​assist, and blind-spot monitoring.
• NHTSA ​said the ⁠software will be updated by a dealer or by ⁠the ​company through an over-the-air (OTA) ​update.

Continue reading “Ford to recall over 254,000 SUVs in the US due to software issues, NHTSA says”

(Reuters) – Zoox, Amazon’s self-driving unit, said on Tuesday it will expand its robotaxi service in ​San Francisco and Las Vegas, and begin ‌testing its purpose-built robotaxis in Austin and Miami, marking its broadest push yet into the U.S. autonomous ride-hailing ​market.

Alphabet’s (GOOGL.O) Waymo leads the robotaxi market, while ​Tesla has the financial resources and manufacturing scale ⁠to expand its limited service in Austin, ​Texas, and plans to ramp up rapidly across ​the United States this year. Continue reading “Zoox to widen US robotaxi footprint with San Francisco, Vegas expansion”

(Reuters) – SpaceX is aiming ​to file its initial ‌public offering prospectus with regulators later this week ​or next week, ​The Information reported on Tuesday, ⁠citing a person ​with direct knowledge of the ​plans.

Advisers involved in the preparation predict the company could ​try to raise more ​than $75 billion in the IPO, ‌the ⁠report said. Continue reading “SpaceX aims to file for IPO as soon as this week, The Information reports”

Summary

• Iran war disrupts Japanese and South Korean used-car exports to Middle East
• Port congestion sparks ‘panic’ among Japanese shipping companies -dealers
• South Korean shipments halted during peak season for used-car dealers

SEOUL/YOKOHAMA, Japan, (Reuters) – The U.S. and Israeli strikes on Iran last month plunged the Middle East into crisis, disrupted global shipping routes and spawned a series of headaches for Umar Ali Hyder Ali’s used-car business in Japan.

Hyder Ali, who ​has lived in Japan for two decades, ships used cars from his adopted home to South Asia, the Middle East and Africa, where the vehicles are highly sought for their ‌durability and relatively good condition, thanks to strict Japanese regulations that require regular inspections and maintenance. Continue reading “Lamborghinis stranded in Sri Lanka as war disrupts Asia’s used-car trade”

Source : PTI | GST reforms such as reducing tax rates on waste management services and biodegradable products will accelerate the adoption of eco-friendly manufacturing, strengthen waste treatment infrastructure and promote sustainable mobility solutions, the environment ministry said on Monday.

In September last year, the government introduced important changes to the GST, rationalising tax rates. While GST was reduced from 12 per cent to 5 per cent on services provided by common effluent treatment plants (CETPs), it was slashed from 18 per cent to 5 per cent on biodegradable bags. Continue reading “GST cuts to boost green mobility, lower cost of buses”

Source : PTI | The Supreme Court has emphasised the need to improve transport access for persons with disabilities (PwDs) and opined that cabs should be equipped to accommodate wheelchairs and other assistive devices.

A bench of Justices Vikram Nath and Sandeep Mehta said apps can have a provision for specified cabs which have been accordingly modified for PwDs. Continue reading “Cabs should be equipped to accommodate wheelchairs: SC”

Source : PTI | The Centre is set to approach the Cabinet with a proposal to reduce the allocation of broken rice in grains distributed under the public distribution system (PDS) from 25 per cent to 10 per cent, a move that would free roughly 90 lakh tonne of broken rice annually for the ethanol sector, Food Secretary Sanjeev Chopra said on Tuesday.

Speaking at the All India Distillers’ Association (AIDA) conference, Chopra said the proposal was aimed at providing the ethanol industry with a stable, year-round feedstock supply, reducing its dependence on whole grain stocks of the Food Corporation of India (FCI).

Continue reading “Govt to cut broken rice in PDS to free up ethanol feedstock, says Food Secretary”

Showcases 14 electrified vehicles from leading OEMs, highlighting next-generation smart mobility solutions

New Delhi, 24th March 2026: The Society of Indian Automobile Manufacturers (SIAM) has showcased its dedicated pavilion, the “Smart Integrated Automotive Mobility Lab (SIAM Lab)”, at Bharat Mandapam during the ongoing Smart Mobility India Expo 2026, being held from March 23–25, 2026.

Curated by the Society of Indian Automobile Manufacturers (SIAM), the Smart Integrated Automotive Mobility Lab (SIAM Lab), located in Hall-1, brings together leading OEMs, component manufacturers, research institutions, and technology providers to demonstrate the scale, depth, and innovation shaping the future of mobility in India. Continue reading “SIAM Highlights Future of Smart and Sustainable Mobility at Smart Mobility India Expo 2026”

New initiatives introduced at Autoverse’s Motor Mechanic Day 2026 to drive trust, accessibility, and future-ready capabilities across the ecosystem

• A first-of-its-kind warranty program enabling multi-brand garages to procure the right parts with confidence
• WhatsApp-based mechanic discovery feature for seamless connectivity
• Unveils Pynoseal, a high-performance underbody coating solution
• EV Mechanic Certification Program to train and certify mechanics in handling electric vehicles

Bangalore, 24^th March 2026: Autoverse Mobility, a leading auto parts digital distributor, providing on-time deliveries and exceptional service to garage owners and vendors, has announced a suite of new initiatives and product launches aimed at strengthening trust, improving access to genuine parts, and building future-ready capabilities across India’s rapidly evolving automotive aftermarket. Continue reading “Autoverse Mobility Unveils Warranty Program, Digital Discovery and EV Certification to Transform India’s Automotive Aftermarket”

PTI | Karnataka Transport Minister Ramalinga Reddy on Saturday ruled out any immediate increase in bus ticket fares despite the recent surge in petrol and diesel prices, attributing the rise in fuel costs to global factors.

He said the state government would not burden commuters with higher fares at this stage and indicated that there was no move to initiate the process required for a revision. Continue reading “No bus fare hike despite fuel price surge: Karnataka Minister Ramalinga Reddy”

PTI | New Delhi: India’s strategic oil reserves, designed to provide cover for about 9.5 days of supplies during disruptions or price shocks, are currently sitting at only two-thirds capacity, the Rajya Sabha was informed on Monday.

India, the world’s third-largest energy consumer and heavily dependent on imports for about 88 per cent of its crude oil needs, has built strategic underground storage facilities with a total capacity of 5.33 million tonnes across three locations — Visakhapatnam in Andhra Pradesh, and Mangaluru and Padur in Karnataka — to store crude oil used for producing fuels such as petrol and diesel. Continue reading “India’s strategic oil reserves about two-thirds full: Minister”

PTI | The total number of motor vehicles on roads in Delhi till 2025-26 is 87.61 lakh, showing an increase by 7.93 per cent compared to 2024-25, according to the economic survey report released on Monday.

As per the report, the number of vehicles per thousand population was 522 as of March 19, 2026. The total number of vehicles registered till 2025-26 was around 87.61 lakh, increasing from 81.18 lakh registered in the previous financial year. Continue reading “Delhi vehicle count rises 7.9 per cent to 87.6 lakh in 2025-26: Economic Survey”

PTI | GST reforms such as reducing tax rates on waste management services and biodegradable products will accelerate the adoption of eco-friendly manufacturing, strengthen waste treatment infrastructure and promote sustainable mobility solutions, the environment ministry said on Monday.

In September last year, the government introduced important changes to the GST, rationalising tax rates. While GST was reduced from 12 per cent to 5 per cent on services provided by common effluent treatment plants (CETPs), it was slashed from 18 per cent to 5 per cent on biodegradable bags. Continue reading “GST cuts to boost green mobility, lower cost of buses”

(Reuters) – Electric vehicle startup Faraday Future (FFAI.O), said on Sunday the U.S. Securities and Exchange Commission ‌has concluded its investigation into the company with no action against it.

The closure would help the California-based company to pursue strategic financing and partnerships, after compliance ⁠concerns during the probe made it difficult to work with major banks and investors, the company said. Continue reading “US SEC concludes four-year-old probe into EV startup Faraday Future with no action”

SYDNEY – The European Union and Australia finalised a long-awaited free trade deal on Tuesday as the bloc seeks to diversify its export markets and expand ties beyond its traditional partners.

OVERALL BENEFITS

Both sides will eliminate tariffs on almost 100% of EU exports of goods, with the exception of certain steel products and some EU ‌farm produce. The European Commission says EU exports to Australia will be spared 1 billion euros ($1.2 billion) of Australian duties, and the value of those exports should rise by a third over 10 years. Australia says the agreement will be worth about A$10 billion ($7 billion) annually to its economy. Continue reading “Highlights of EU-Australia trade agreement”

Summary

• SpaceX, Tesla to build advanced chip factories in Austin, Texas
• Terafab project involves SpaceX, xAI, and Tesla collaboration
• Musk says global chip output meets only 3% of his companies’ future needs

LOS ANGELES,Reuters) – SpaceX and Tesla (TSLA.O) will ‌build two advanced chip factories at a sprawling facility in Austin, Texas, one to power cars and humanoid robots, and another designed for artificial intelligence data centers in space, CEO Elon Musk said on Sunday. Continue reading “Musk says SpaceX and Tesla to build advanced chip factories in Austin”

Summary

• Chinese open-source AI overtaking US models in data collection, report says
• China best positioned to benefit from shift towards physical AI
• Some Western firms prefer low-cost Chinese models

BEIJING, (Reuters) – The dominance of China’s open-source artificial intelligence is creating a “self-reinforcing competitive advantage”, allowing it to challenge U.S. rivals despite restricted access to advanced AI chips, a U.S. congressional ‌advisory body said on Monday. Continue reading “China’s open-source dominance threatens US AI lead, US advisory body warns”

Summary

• Deal removes over 99% of tariffs on EU exports
• Zero import tariffs for Australian critical minerals
• Australian farmers say deal has not delivered commercially meaningful access

SYDNEY, (Reuters) – Australia and the European Union signed a trade deal on Tuesday that was eight years in the making, removing tariffs for almost all ‌European goods and for nearly all exports of Australian critical minerals. Continue reading “Australia and EU seal trade deal, seek to cut reliance on China for critical minerals”

Summary

• Hyundai says recalls 58,000 Palisade SUVs in Korea
• Hyundai stopped sales of higher-end Palisade SUVs after death of 2-year-old girl in Ohio
• Hyundai reports two injuries in South Korea, in addition to four reported to U.S. regulator
• Palisade is Hyundai’s top-selling SUV in ‌Korea

SEOUL, (Reuters) – South Korea’s transport ministry announced on Tuesday the recall of 58,000 Hyundai Motor (005380.KS) Palisade hybrid sport utility vehicles nationwide over safety concerns, following a fatal accident in the United States earlier this month. Continue reading “Hyundai recalls 58,000 Palisade SUVs in South Korea due to automatic seat problem”

Summary

• Survey shows 40% of US consumers support Chinese auto imports
• Political opposition in U.S. remains strong
• Average cost of new autos in the U.S. nears $50,000

DETROIT, (Reuters) – Sooren Moosavy wants to buy an affordable electric car in the U.S., motivated by environmental concerns and a preference for the EV’s smoother ride. But the 28-year-old Baltimore resident’s search has brought him to a trio of vehicles that are essentially unavailable – because they’re from Chinese automakers. Continue reading “Some US car buyers envy what they cannot have – affordable Chinese EVs”

(Reuters) – New car sales in Europe rose in February after falling in January, while sustained demand for electric vehicles helped Elon Musk’s all-electric brand Tesla (TSLA.O) resume growth for the first time since ‌December 2024, official data showed on Tuesday.

Overall car registrations, a proxy for sales, in the European Union, Britain and the European Free Trade Association were up 1.7% to 979,321 vehicles sold in the month, according to the European auto lobby ACEA. Continue reading “European car sales rise modestly in February, Tesla reverses year-long skid”