TOKYO, (Reuters) – The founding family of Japanese IT firm Fuji Soft on Wednesday reiterated its support for a takeover bid by private equity firm Bain Capital that is opposed by Fuji Soft’s board, it said in a statement jointly released with Bain.

Amid a bidding war with rival private equity giant KKR Bain last week offered 9,600 yen per share, 1.6% more than KKR’s 9,451 yen bid, and on Wednesday went hostile after Fuji Soft’s board rejected the higher offer and supported KKR’s. Continue reading “Fuji Soft founding family affirms support for Bain’s $2 bln hostile takeover bid”

Summary

• Stellantis to invest 2 billion euros in Italy in 2025
• Itay pledges over 1 billion euros for auto supply chain
• Stellantis to produce new hybrid and EV models in Italy

ROME, (Reuters) – Fiat-maker Stellantis on Tuesday presented an upbeat plan to revitalise its output in Italy, aimed at drawing a line under months of fraught relations with the government, but with production only set to grow from 2026. Continue reading “Fiat owner Stellantis launches upbeat plan to boost manufacturing in Italy”

Summary

• EU to tighten emissions rules on Jan. 1
• Around 22% of cars sold must be electric to meet targets
• Based on 2024 sales, sector would pay 15 bln euros in fines
• Companies set to discount EVs to avoid penalties

PARIS/GDANSK, (Reuters) – European automakers are raising prices of petrol cars and readying discounts on electric vehicles as they brace for yet another challenge – tougher emissions rules that threaten to further shrink profits across the struggling industry. Continue reading “Europe’s carmakers discount EVs, hike petrol car prices as new emissions rules loom”

Summary

• Fifth round of talks likely to drag into early hours
• VW, unions expected to reach deal or adjourn until 2025 – source
• If talks collapse, unions to escalate strikes in new year

BERLIN, (Reuters) – Volkswagen and German unions will most likely either reach a deal in the early hours of Wednesday or adjourn until the new year, a source familiar with discussions said on Tuesday, as the two sides strive to reach a cost-cutting pact before Christmas. Continue reading “VW, unions likely to strike deal in small hours or break off till next year, source says”

(Reuters) – Uber Technologies and its CEO Dara Khosrowshahi each donated $1 million to U.S. President-elect Donald Trump’s inaugural fund, a company spokesperson told Reuters on Tuesday.

The ride-hailing firm joins a list of several large businesses that have sought to build a positive relationship with the incoming Trump administration after he won the election in November. Continue reading “Uber and its CEO donate $1 million each to Trump’s inaugural fund”

MELBOURNE, (Reuters Breakingviews) – If only M&A solved everything. Japan’s Nissan Motor and Honda Motor certainly need help. The country’s second- and third-largest automakers are in talks to set up a holding company, Reuters reported on Wednesday, citing a source. That may yet lead to a full merger and possibly include smaller rival Mitsubishi Motors according to the Nikkei. Cost cuts would bolster margins at the trio, whose combined market value at Tuesday’s close was $50 billion. But as Stellantis’s woes show, tie-ups alone don’t create great manufacturers. Continue reading “Nissan-Honda merger would be far from cure-all”

Summary

• Honda and Nissan face competition from Tesla and Chinese EV makers
• Merger would create $54 billion company, world’s No 3 auto group by vehicle sales
• Honda, Nissan also exploring ways to cooperate with Mitsubishi-source
• Taiwan’s Foxconn made a rejected approach to Nissan about a bid-source

TOKYO, (Reuters) – Honda and Nissan are in talks to deepen ties, two people said on Wednesday, including a possible merger, the clearest sign yet of how Japan’s once seemingly unbeatable auto industry is being reshaped by challenges from Tesla and Chinese rivals. Continue reading “Honda, Nissan move to deepen ties, sources say, including possible merger”

Source : PTI | New Delhi: Tata Motors on Tuesday said it has won an order for 1,297 bus chassis from Uttar Pradesh State Road Transport Corporation (UPSRTC). This marks the third order for the auto major from UPSRTC in a year, with a cumulative order size of over 3,500 units, Tata Motors said in a statement.

The order was won through a competitive e-bidding process and the bus chassis will be delivered in a phased manner under mutually agreed terms, it added.

Continue reading “Tata Motors bags order for 1,297 bus chassis from UPSRTC”

Source : PTI | Electric mobility firm Magenta Mobility on Monday said it plans to add 10,000 electric vehicles — both three and four-wheelers — over the next financial year and is also looking at expanding into new cities such as Nashik, Nagpur, Vijayawada, Indore and Kolkata, among others. The company also said that after establishing a strong presence in the electric three-wheeler space, it is now aggressively expanding into the four-wheeler category.

With a fleet exceeding 500 electric cargo four-wheelers, Magenta Mobility is transforming urban and intercity logistics, it said.

Continue reading “Magenta Mobility to add 10,000 EVs over next fiscal; to expand to new cities”

Source : PTI | Asharp deterioration in the capital’s air quality to the higher end of ‘very poor’ range on Monday prompted the Commission for Air Quality Management (CAQM) to impose restrictive actions under stage 4 of the GRAP with immediate effect.

The Centre’s air quality panel for Delhi-NCR on Monday invoked stringent measures under Stage 4 of the air pollution control plan as the region’s air quality turned “severe” due to unfavourable meteorological conditions, according to an official order. Continue reading “GRAP 4 restrictions back in Delhi-NCR”

Summary

• Trump plans to cut EV support, impose tariffs on battery materials
• Proposals aim to boost U.S. production, redirect funds to national defense
• Transition team suggests rolling back emissions standards, blocking California’s stricter rules

(Reuters) – Incoming U.S. President Donald Trump’s transition team is recommending sweeping changes to cut off support for electric vehicles and charging stations and to strengthen measures blocking cars, components and battery materials from China, according to a document seen by Reuters. Continue reading “Exclusive: Trump transition team to roll back Biden EV, emissions policies”

Source : PTI | NEW DELHI: Japanese auto major Nissan’s plans to turn around its Indian operations remain intact, and it is looking to increase headcount in the country despite the turbulence it is facing globally, according to a senior company official. The company, which has increased headcount at its Chennai plant by 600 to add a third shift, does not foresee steps to cut 9,000 jobs and 20 per cent production globally having an impact on India as long as it remains competitive in the market, Nissan India Operations President Frank Torres told PTI.

“Nissan is betting big on India…and the plans (for India) remain intact despite this global turbulence,” he said. Continue reading “India plans intact; to add more headcount despite global turbulence: Nissan”

Source : PTI | The Centre’s panel on Delhi-NCR air quality has issued a revised plan to tackle winter pollution, asking states to implement stricter measures when the air quality deteriorates and making it mandatory for schools to shift to hybrid learning on days with severe air pollution. Poor air quality, driven by unfavourable weather conditions, usually persists for long periods during winter, from November to January.

During this time, Delhi frequently enforces restrictions under the Graded Response Action Plan (GRAP), which categorises air quality into four stages: Stage I (Poor) with AQI between 201 and 300, Stage II (Very Poor) between 301 and 400, Stage III (Severe) between 401 and 450, and Stage IV (Severe Plus) for AQI above 450.

Continue reading “Centre revises air pollution control plan for Delhi-NCR, tightens curbs”

Source : PTI | New Delhi: The upcoming edition of Auto Expo will see participation of 34 vehicle manufacturers, the largest number of participants till date, since the first edition of the marquee event in 1986. The Society of Indian Automobile Manufacturers (SIAM) would be organising the 17th edition of Auto Expo, ‘The Motor Show’, under the aegis of the Bharat Mobility Global Expo 2025 from January 17-22 at Bharat Mandapam, in partnership with ACMA and CII.

“Around 34 vehicle manufacturers would be participating at the exhibition and showcasing technologies with respect to multiple powertrains,” SIAM Director General Rajesh Menon told PTI. Continue reading “Auto expo to see highest-ever participation of vehicle manufacturers: SIAM”

Summary

• Trump transition team recommends repealing requirement that companies report automated vehicle crash data
• Elon Musk’s Tesla opposes the requirement, arguing it has unfairly targeted his company
• Unclear if Donald Trump administration will adopt the recommendation to quash reporting requirement

(Reuters) – The Trump transition team wants the incoming administration to drop a car-crash reporting requirement opposed by Elon Musk’s Tesla, according to a document seen by Reuters, a move that could cripple the government’s ability to investigate and regulate the safety of vehicles with automated-driving systems. Continue reading “Exclusive: Trump team wants to scrap car-crash reporting rule that Tesla opposes”

Summary

• Previous deadline for first EV was 2028
• CEO rules out any IPO plan from parent VW
• CO will always produce cars in Italy
• New Temerario hybrid model costs over 300,000 euros

SANT’AGATA BOLOGNESE, Italy, Dec 16 (Reuters) – Italy’s Lamborghini will always make cars in Italy as it plans to launch its first electric model only in 2029, amid a market for luxury sports cars which is not ripe for full electrification, CEO Stephan Winkelmann said on Monday. Continue reading “Lamborghini delays first EV launch to 2029 as market not ready”

Summary

• To help finance construction of three battery making plants
• Loan higher than conditional commitment of $9.2 bln
• Biden incentivizing EV sector ahead of Trump taking over

WASHINGTON, (Reuters) – The U.S. Energy Department on Monday said it has finalized a $9.63 billion loan to a joint venture of Ford Motor and South Korean battery maker SK On to help finance construction of three new battery manufacturing plants in Tennessee and Kentucky. Continue reading “US finalizes $9.63 billion loan for Ford, SK On joint battery venture”

BERLIN, (Reuters) – Mercedes-Benz’s works council chief said the carmaker must urgently win back market share and rethink its China strategy so sales did not drop below 2 million a year, which he said would be “unacceptable” to labour representatives.

“We would not be satisfied with any less than two million cars a year – we need that to use our German sites to capacity,” Ergun Lümali said in an interview with German newspaper Frankfurter Allgemeine Zeitung (FAZ) published on Monday. Continue reading “Mercedes-Benz labour chief: we must win back market share, rethink China strategy”

Summary

• Stellantis seeks to rebuild relations with dealers and partners
• Rejoining ACEA signals more unified stance on EU carbon targets
• Elkann’s leadership reassures investors, shares rebound over 18%

MILAN/DETROIT, (Reuters) – Steered by Chairman John Elkann, Stellantis , owner of 14 brands including Fiat, Jeep and Ram, is acting swiftly to dismantle the legacy of its former CEO and repair relations with dealers, industry partners, governments and workers. Continue reading “Stellantis swiftly reshapes strategy under Elkann after Tavares exit”

Summary

• Fifth round of talks between VW management, unions
• Talks could last days, collapse could mean strikes
• VW shares down 2.5%, Porsche SE shares down 2.9%

HANOVER, Germany, (Reuters) – Volkswagen’s works council chief said that cost cuts must exclude plant closures or redundancies, as a last-ditch round of pre-Christmas negotiations began on Monday. Continue reading “VW union calls for compromise in last-ditch talks before Christmas”

Summary

• Trump plans to cut EV support, impose tariffs on battery materials
• Proposals aim to boost U.S. production, redirect funds to national defense
• Transition team suggests rolling back emissions standards, blocking California’s stricter rules

(Reuters) – Incoming U.S. President Donald Trump’s transition team is recommending sweeping changes to cut off support for electric vehicles and charging stations and to strengthen measures blocking cars, components and battery materials from China, according to a document seen by Reuters. Continue reading “Exclusive: Trump transition team to roll back Biden EV, emissions policies”

Source : PTI | JK Tyre & Industries on Thursday said it will receive a long term loan of 30 million euros from Germany’s DEG. The company will invest the funds in a sustainable expansion of production capacities at its Madhya Pradesh-based passenger car radial tyre facility, the tyre maker said in a statement.

“The JK Organisation is a longstanding customer of DEG’s. We are now looking forward to working together with its tyre company as well,” DEG Management Board member Joachim Schumacher said. Continue reading “JK Tyre to get 30 mn euros long term loan from German entity”

Source : PTI | Chinese auto component makers are likely to skip the upcoming Bharat Mobility Show which is scheduled to be held from January 17-22 at three different locations across Delhi-NCR. The six-day Bharat Mobility Global Expo 2025 will be held between January 17 and 22 next year at Bharatmandapam, Yashobhoomi (India International Convention and Expo Center) Dwarka, and India Expo Center & Mart, Greater Noida, simultaneously.

“I don’t think so,” Automotive Component Manufacturers Association of India (ACMA) Director General Vinnie Mehta said when asked about the participation of the Chinese in the marquee auto event.

Continue reading “Chinese auto component firms likely to skip upcoming Bharat Mobility Show”

Source : PTI | Domestic and foreign firms have announced a whopping INR 3.4 lakh crore investment in India’s electrical vehicles (EVs) and ancillary industries over the next six years, Colliers India on Wednesday said while expressing concern over “tardy progress” towards achieving the goal of 30% electric mobility by 2030 Real estate consultant Colliers India on Wednesday released a report ‘EVs in India: Renewed Vigour in Electric Mobility’, highlighting that an overall EV penetration rate in India stood at 8%. It estimated sales of around 2 million (20 lakh) EVs in 2024.

“Although the pace of EV adoption in the country has been commendable, it has not been as brisk as anticipated,” the consultant pointed out.

Continue reading “India’s EVs, ancillary industries may see INR 3.4 lakh cr investment by 2030: Colliers”

SHANGHAI, (Reuters) – China’s CATL has told suppliers it is willing to provide them with financial support to speed up technology innovation in battery materials and equipment, part of efforts to relieve stress on its supply chain amid a brutal EV price war.

It is willing to take on part of their R&D costs and make advance payments for projects to ensure technologies make progress, according to a CATL letter to suppliers seen by Reuters. Continue reading “China’s CATL offers suppliers financial support to drive battery innovation”

LISBON, (Reuters) – Carlos Tavares, who abruptly resigned as CEO of carmaker Stellantis on Dec. 1, said his “amicable” departure was motivated by disagreements with the board over strategy, in an interview published late on Thursday.

He did not go into details on his differences with the board of the Franco-Italian automaker, but told Portuguese newspaper Expresso the decision on his exit had been made jointly between him and chairman John Elkann. Continue reading “Tavares says ‘amicable’ Stellantis exit was due to disagreements on strategy”

(Reuters) – The U.S. Supreme Court agreed on Friday to hear a bid by fuel producers to challenge California’s standards for vehicle emissions and electric cars under a federal air pollution law in a major case testing the Democratic-governed state’s power to fight greenhouse gases.

The justices took up an appeal by a Valero Energy subsidiary and fuel industry groups of a lower court’s rejection of their challenge to a decision by Democratic President Joe Biden’s administration allow California to set its own regulations. Continue reading “US Supreme Court to hear dispute over California tailpipe emissions, EV standards”

WILMINGTON, Delaware, (Reuters) – A Delaware judge cleared the way on Friday for Elon Musk and Tesla to begin legal appeals to try to reinstate the chief executive’s record-breaking $56 billion pay package from the electric carmaker.

The order by Chancellor Kathaleen McCormick of the Court of Chancery opens the 30-day window for an appeal to the Delaware Supreme Court. Continue reading “Judge clears way for Musk appeal to try to restore $56 billion Tesla pay”

Summary

• Expects 7-20 bln eur impairment on Volkswagen stake
• Expects 1-2 bln eur impairment on Porsche AG stake
• Withdraws 2024 outlook for profit after tax

BERLIN, (Reuters) – Porsche SE, Volkswagen’s top shareholder, on Friday warned it may write down the value of its stake in Europe’s top carmaker by up to 20 billion euros ($21 billion), in the latest sign of how VW’s cost crisis has shaken investor faith in the carmaker. Continue reading “Porsche SE to take up to $21 billion impairment on Volkswagen stake”

Summary

• Trump transition team recommends repealing requirement that companies report automated vehicle crash data
• Elon Musk’s Tesla opposes the requirement, arguing it has unfairly targeted his company
• Unclear if Donald Trump administration will adopt the recommendation to quash reporting requirement

(Reuters) – The Trump transition team wants the incoming administration to drop a car-crash reporting requirement opposed by Elon Musk’s Tesla, according to a document seen by Reuters, a move that could cripple the government’s ability to investigate and regulate the safety of vehicles with automated-driving systems. Continue reading “Exclusive: Trump transition recommends scrapping car-crash reporting requirement opposed by Tesla”

Source : PTI | The automotive components industry grew 11 per cent year-on-year to INR 3.32 lakh crore in the first half of the current fiscal, industry body ACMA said on Thursday. The turnover of the automotive component industry in the April-September period of last fiscal stood at INR 2.98 lakh crore.

“With vehicle sales across all segments reaching pre-pandemic levels and despite geopolitical challenges on the exports front, the auto components sector witnessed a steady growth in both domestic and international markets in the first half of FY2024-25,” Automotive Component Manufacturers Association of India (ACMA) President Shradha Suri Marwah said. Continue reading “Auto component industry grows 11% to INR 3.32 lakh crore in April-September: ACMA”

Source : PTI | JK Tyre & Industries on Thursday said it will receive a long term loan of 30 million euros from Germany’s DEG. The company will invest the funds in a sustainable expansion of production capacities at its Madhya Pradesh-based passenger car radial tyre facility, the tyre maker said in a statement.

“The JK Organisation is a longstanding customer of DEG’s. We are now looking forward to working together with its tyre company as well,” DEG Management Board member Joachim Schumacher said. Continue reading “JK Tyre to get 30 mn euros long term loan from German entity”

DETROIT, (Reuters) – General Motors needed to exit its Cruise robotaxi business, most Wall Street analysts agreed on Wednesday, but the automaker’s decision to do so was still a disappointing end for an operation that GM had touted as a potential $50 billion revenue generator by 2030.

The largest U.S. automaker on Tuesday pulled the plug on Cruise after evaluating the continued investments needed in a competitive space, executives said, adding they intend to fold some of Cruise’s talent into GM to continue development of driver assistance systems. Continue reading “Wall Street mostly upbeat on GM’s decision to pull the plug on Cruise”

BEIJING, (Reuters) – The CEO of China’s Ji Yue Auto was surrounded by people demanding to know how they would be paid, videos posted online on Thursday showed, a day after the EV maker said it would streamline operations to cope with fierce market competition.

The Baidu Inc and Geely joint venture said on Wednesday it would seek fresh funding and cut projects, becoming one of a number of smaller start-ups to admit to struggles amid a bruising price war in the world’s largest auto market. Continue reading “Baidu, Geely’s EV venture faces uproar after it says needs fresh funds”

SHANGHAI, (Reuters) – Chinese electric vehicle (EV) maker Nio will seek to improve efficiency and cost control as it seeks to spur sales growth that is two years behind schedule, its CEO said on Thursday.

William Li told reporters at an event in Shanghai that it will also start production at its third factory in the second half of next year, and that it aimed to achieve monthly deliveries of 20,000 cars from its second, Onvo brand, by March 2025. Continue reading “China’s Nio, behind on growth targets, aims to tighten cost control”

(Reuters) – Volkswagen’s supervisory board is leaning away from closing large plants in Germany to tackle the automaker’s cost crisis, a report by business monthly manager magazin said on Thursday, though no final agreement has been reached.

Board members discussed stopping production at the 300-person Dresden plant and selling the plant in Osnabrueck which employs around 2,300 people, the German magazine reported, citing an unspecified number of participants at a meeting in mid-November. Continue reading “Volkswagen’s board leaning away from closing big plants in Germany, media report says”

BRUSSELS, (Reuters) – The European Commission is not considering changing Europe’s policies to cut CO2 emissions from cars, despite a push from the EU’s biggest political group to weaken the laws, the bloc’s climate policy chief told Reuters on Thursday.

The centre-right European People’s Party – the European Parliament’s biggest lawmaker group – launched a campaign this week to weaken the climate rules, adding to pressure on Brussels from automakers and national governments to urgently help Europe’s ailing autos sector. Continue reading “EU not buckling to pressure over car CO2 rules, climate chief says”

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Source : PTI | EV charging network operator Statiq has partnered with e-mobility solutions provider Vertelo to offer enhanced charging infrastructure in the country. Under the partnership, Statiq will provide turnkey solutions, including the supply of EV chargers and complete execution of EPC (engineering, procurement, and construction) services to install and commission these chargers.

Additionally, Statiq said, the two partners will co-develop EV charging sites, further strengthening the EV infrastructure in India. Continue reading “Statiq partners with Vertelo to offer enhanced charging infrastructure”

Source : PTI | Car market leader Maruti Suzuki India on Wednesday said it plans to increase its overall service network to 8,000 touchpoints by 2030-31, with an aim to reach closer to its customers.

The company, which on Wednesday opened the 500th service touchpoint for its premium retail outlet NEXA, currently has 5,240 touchpoints across NEXA as well as ARENA — the mass market retail chain. Continue reading “Maruti Suzuki eyes 8,000 overall service touchpoints by 2030-31”