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Madhya Pradesh gets public bus service after gap of 21 years; 351 buses flagged off

Madhya Pradesh gets public bus service after gap of 21 years; 351 buses flagged off

Source : PTI | Union Minister for Road Transport and Highways Nitin Gadkari and Chief Minister Mohan Yadav inaugurated the ‘Mukhyamantri Sugam Parivahan Seva’ and ‘PM-eBus Sewa’ in Madhya Pradesh on Friday, relaunching a public bus service in the state after 21 years.

The launch was made on the occasion of the birth anniversary of Pandit Deendayal Upadhyaya, a founding member of Bharatiya Jana Sangh, the forerunner of the ruling BJP. Continue reading “Madhya Pradesh gets public bus service after gap of 21 years; 351 buses flagged off”

PMI Electro Mobility files IPO papers with Sebi via confidential route

PMI Electro Mobility files IPO papers with Sebi via confidential route

Source : PTI | Electric bus maker PMI Electro Mobility Solutions Ltd has filed preliminary papers with capital markets regulator Sebi for an Initial Public Offering (IPO) through the confidential route.

Under the confidential pre-filing mechanism, companies can submit draft offer documents to Sebi and stock exchanges without immediately making them available in the public domain. Continue reading “PMI Electro Mobility files IPO papers with Sebi via confidential route”

Gadkari pushes clean fuels in auto transport push, bets on ethanol, e-buses

Gadkari pushes clean fuels in auto transport push, bets on ethanol, e-buses

Source : PTI | Union minister Nitin Gadkari on Friday said the use of ethanol could help raise farmers’ income and reduce India’s dependence on petroleum imports, as he called for wider adoption of alternative fuels and cleaner public transport.

He was addressing a programme here after launching Madhya Pradesh’s new public bus service with Chief Minister Mohan Yadav.

Continue reading “Gadkari pushes clean fuels in auto transport push, bets on ethanol, e-buses”

Ethanol can help raise farmers’ income and reduce fuel imports: Nitin Gadkari

Ethanol can help raise farmers’ income and reduce fuel imports: Nitin Gadkari

Source : PTI | Union minister Nitin Gadkari on Friday said the use of ethanol could help raise farmers’ income and reduce India’s dependence on petroleum imports, as he called for wider adoption of alternative fuels and cleaner public transport.

He was addressing a programme here after launching Madhya Pradesh’s new public bus service with Chief Minister Mohan Yadav.

Continue reading “Ethanol can help raise farmers’ income and reduce fuel imports: Nitin Gadkari”

Himachal pushes bus fleet upgrade with 1,000 e-bus plan, 250 diesel buys

Himachal pushes bus fleet upgrade with 1,000 e-bus plan, 250 diesel buys

Source : PTI | Himachal Pradesh Deputy Chief Minister Mukesh Agnihotri on Friday discussed several issues with officials, including HRTC modernisation, procurement of new buses, expansion of electric bus services, bus routes, and development of new bus stands.

While chairing the 164th meeting of the Board of Directors of the Himachal Road Transport Corporation (HRTC) and the 73rd meeting of the Himachal Pradesh Urban Transport and Bus Stand Management and Development Authority (HPUTBSMDA), he said no HRTC bus route would be discontinued without the Managing Director’s approval. Regional Managers would not have the authority to close any route independently. Continue reading “Himachal pushes bus fleet upgrade with 1,000 e-bus plan, 250 diesel buys”

Heavy Industry Ministry earmarks ₹780 cr to upgrade India’s automotive testing infra: Kumaraswamy

Heavy Industry Ministry earmarks ₹780 cr to upgrade India’s automotive testing infra: Kumaraswamy

Source : PTI | The Heavy Industries Ministry has earmarked ₹780 crore for upgrading the infrastructure of all testing agencies in India, Union Minister HD Kumaraswamy said on Friday.

He was participating in the ICAT@20 – Celebrating 20 Years of Excellence programme at the International Centre for Automotive Technology (ICAT), Manesar, marking two decades of its contribution to India’s automotive testing, certification, research and industrial development. Continue reading “Heavy Industry Ministry earmarks ₹780 cr to upgrade India’s automotive testing infra: Kumaraswamy”

US senators press for quick Chinese vehicle ban this week as Xi visits

US senators press for quick Chinese vehicle ban this week as Xi visits

Summary

  • Slotkin and Moreno aim to win unanimous Senate approval
  • Trump has said he would accept Chinese manufacturing in US
  • US president to host Xi in Washington this week

WASHINGTON, (Reuters) – US senators proposing ​bipartisan legislation to make permanent a ban on Chinese vehicles are aiming to win quick Senate approval ‌this week, as President Donald Trump meets with China’s President Xi Jinping, one of the bill’s authors said on Wednesday. Continue reading “US senators press for quick Chinese vehicle ban this week as Xi visits”

Explainer: The road ahead for Volkswagen’s restructuring

Explainer: The road ahead for Volkswagen’s restructuring

BERLIN, (Reuters) – Volkswagen CEO Oliver Blume may have got the green light from stakeholders for his turnaround plan, but he faces tough talks in Germany over job cuts and plant ​closures as well as fundamental questions over the automaker’s US strategy.

Here is a guide to ‌what is coming up next. Continue reading “Explainer: The road ahead for Volkswagen’s restructuring”

US senators delay effort to permanently ban Chinese cars

US senators delay effort to permanently ban Chinese cars

Summary

  • Republican Senator Paul will hold talks with sponsors
  • Sponsors hope House will take this up in November
  • Major US, foreign automakers strongly back bill

WASHINGTON, (Reuters) – The two US senators backing a permanent legislative ban ​on Chinese vehicles in the United States agreed on Thursday to delay their plan to use a fast-track procedure to win ‌Senate approval until next week, in order to seek the support of a lone holdout. Continue reading “US senators delay effort to permanently ban Chinese cars”

GM, Ford to see US market-share slide, forecaster predicts

GM, Ford to see US market-share slide, forecaster predicts

Summary

  • GM and Ford are expected to lose most market share among 13 automakers
  • Detroit Three share is expected to hit a record low around 36%, Cox says
  • Hyundai and Kia are projected to outsell Ford in third quarter, a first

Sept 24 (Reuters) – General Motors and Ford Motor have lost more market share in the United States than any other automakers ‌so far this year as buyers prioritize fuel efficiency amid high gas prices, an industry forecast shows. Continue reading “GM, Ford to see US market-share slide, forecaster predicts”

Ford F-150 truck production down for nearly a week at Michigan plant, memo says

Ford F-150 truck production down for nearly a week at Michigan plant, memo says

DETROIT, (Reuters) – Production of Ford Motor’s best-selling F-150 pickup truck has ​been halted for nearly a week at a Detroit-area plant, ‌according to a memo viewed by Reuters.

All production crews at Dearborn Truck Plant were canceled starting Thursday, through Tuesday, September 29, the memo said. A ​person familiar with the matter said the outage was because ​of a supply problem. Continue reading “Ford F-150 truck production down for nearly a week at Michigan plant, memo says”

Europe August car sales rise as EV demand offsets petrol, diesel slump

Europe August car sales rise as EV demand offsets petrol, diesel slump

(Reuters) – Demand for electrified cars continued to underpin growth in Europe’s car ​market in August, offsetting a steep decline ‌in petrol and diesel vehicle sales, data from the European Automobile Manufacturers’ Association (ACEA) showed on Thursday.

Higher registrations, a proxy for ​sales, also helped Chinese automakers expand their ​presence across the European Union, Britain and the ⁠European Free Trade Association. Continue reading “Europe August car sales rise as EV demand offsets petrol, diesel slump”

China’s high-speed race for fast-charging EVs

China’s high-speed race for fast-charging EVs

BEIJING, September 24 – Chinese EV makers have another battleground in their quest for technological supremacy: ultra-fast charging.

No longer satisfied with 30-minute top-ups, automakers such as Geely, BYD, and Li Auto are now racing to deliver charging speeds that mimic the 5-minute ​gasoline stop. That sprint to deliver extreme charging speeds has intensified as manufacturers seek to ease consumer ‌range anxiety — and rekindle demand in the world’s biggest car market, where growth has slowed. Continue reading “China’s high-speed race for fast-charging EVs”

South Africa races to keep auto exports competitive in EV era

South Africa races to keep auto exports competitive in EV era

Summary

  • South Africa offers 150% tax break to boost EV manufacturing.
  • Carmakers say tax breaks alone will not secure investment
  • About 67% of South African-made vehicles are exported.
  • Industry says power, logistics and policy certainty remain key hurdles.

JOHANNESBURG, (Reuters) – South Africa risks losing future vehicle production to Asian rivals as global automakers decide where to build the next generation of electric vehicles, despite a new government tax incentive aimed at ​attracting investment, executives say. Continue reading “South Africa races to keep auto exports competitive in EV era”

Geely turns to 4-minute EV charging, AI in battle with BYD

Geely turns to 4-minute EV charging, AI in battle with BYD

Summary

  • Geely launches next-gen battery, upgraded Galaxy E5 electric SUV
  • Geely says new system can charge EV from 10% to 70% in 4.5 mins
  • Geely’s new tech aimed at countering ​BYD challenge

NINGBO, China, (Reuters) – China’s Geely responded to the challenge ‌posed by rival BYD on Wednesday with a system that can charge an EV in just four minutes, the industry’s fastest speed.

Geely also introduced a next-generation electric vehicle battery and an upgraded ​Galaxy E5 pure-electric SUV as it seeks to revive sales in China, ​where EV sales declined for 11 consecutive months through August. Continue reading “Geely turns to 4-minute EV charging, AI in battle with BYD”

Honda plans to invest $2.5 bln to build hybrid vehicle plant in Ohio, Nikkei says

Honda plans to invest $2.5 bln to build hybrid vehicle plant in Ohio, Nikkei says

TOKYO, (Reuters) – Japan’s ​Honda Motor is ‌in the final stages of ​preparations to ​build a new hybrid ⁠vehicle production ​plant in ​Ohio, the Nikkei business daily said on ​Thursday.

Honda plans ​to invest about 300 ‌billion ⁠yen to 400 billion yen ($1.90 billion to $2.53 ​billion) ​in ⁠the new plant, expected ​to start ​production ⁠in 2030, the daily said. Continue reading “Honda plans to invest $2.5 bln to build hybrid vehicle plant in Ohio, Nikkei says”

Tesla’s supervised self-driving system often misreads speed limits, Belgian safety group finds

Tesla’s supervised self-driving system often misreads speed limits, Belgian safety group finds

Summary

  • Belgian NGO says Tesla’s automated-driving software sped
  • The advocacy group tested the system over three days in July across about 400 km
  • NGO asks Flemish ministry and Dutch regulator RDW to reassess FSD approvals

(Reuters) – Tesla’s FSD automated-driving system frequently exceeded speed limits and attempted to overtake cyclists on streets where ‌it’s prohibited, a road-safety advocacy group said, citing tests it conducted in Belgium. Continue reading “Tesla’s supervised self-driving system often misreads speed limits, Belgian safety group finds”

Bentley tests wealthy buyers’ interest in going electric with first EV

Bentley tests wealthy buyers’ interest in going electric with first EV

Summary

  • Bentley’s Torcal has a starting price of 173,000 pounds
  • Sits at lower end of Bentley range, unlike Ferrari’s EV
  • Bentley invests 350 million pounds in Crewe plant

LONDON, (Reuters) – Bentley on Wednesday unveiled its first ​fully electric vehicle, betting that wealthy buyers want zero-emission motoring without sacrificing the design cues ‌that have defined the British luxury carmaker for more than a century. Continue reading “Bentley tests wealthy buyers’ interest in going electric with first EV”

US closes rear-view camera probe into more than 129,000 Honda vehicles

US closes rear-view camera probe into more than 129,000 Honda vehicles

(Reuters) – The US auto safety regulator on Tuesday ​closed an investigation into rear-view camera ‌failures in 129,092 Honda Ridgeline pickup trucks, recalled in 2022, without further action.

The National Highway Traffic Safety ​Administration opened a recall query in ​2024 and upgraded the review to an ⁠engineering analysis in February 2025 after ​receiving reports of wire-harness failures in vehicles ​that had received the original recall remedy. Continue reading “US closes rear-view camera probe into more than 129,000 Honda vehicles”

What is in Brussels’ ‘Made in EU’ law and why is Britain worried?

What is in Brussels’ ‘Made in EU’ law and why is Britain worried?

BRUSSELS, – British Prime Minister Andy Burnham said on Tuesday he would make the case for Britain to be considered a “trusted partner” under the European Union’s proposed “Made in EU” rules, warning that excluding the UK could damage the British car industry.

Here are the key points of the European ​Commission’s proposed Industrial Accelerator Act, unveiled in March. Continue reading “What is in Brussels’ ‘Made in EU’ law and why is Britain worried?”

GM CEO Mary Barra to attend Trump’s state dinner for Xi, sources say

GM CEO Mary Barra to attend Trump’s state dinner for Xi, sources say

DETROIT, (Reuters) – General Motors CEO Mary Barra is ‌expected to attend US President Donald Trump’s state dinner at the White House on Thursday for Chinese President Xi Jinping, two sources familiar with ​the matter said, as US automakers warn against allowing Chinese ​manufacturers into the market, while Trump signals he may ⁠be open to it.

Barra will not be joined by Stellantis ​CEO Antonio Filosa, who is out of the country, two ​sources said. Ford declined to comment on if CEO Jim Farley would attend the dinner. The automaker recently came under fire from US Transportation Secretary ​Sean Duffy for its business partnerships with Chinese companies. Continue reading “GM CEO Mary Barra to attend Trump’s state dinner for Xi, sources say”

Kerala police collect ₹1.08 crore in traffic fines

Kerala police collect ₹1.08 crore in traffic fines

Source : PTI | The Traffic and Road Safety Management wing of Keralam Police has collected ₹1.08 crore in fines from 32,385 vehicles for traffic violations, mainly illegal parking, during a statewide seven-day inspection, police said.

The special inspection was conducted from September 9 to 15 with the aim of improving road safety, reducing traffic congestion and preventing accidents. Continue reading “Kerala police collect ₹1.08 crore in traffic fines”

India’s first mineral exchange may be operationalised by next fiscal: Official

India’s first mineral exchange may be operationalised by next fiscal: Official

Source : PTI | India’s first mineral exchange, which would create a transparent, electronic delivery-based trading platform for minerals, is likely to be registered and operationalised by the next financial year, according to a top government official.

This comes after the mines ministry’s notification of the Mineral Exchange Rules, 2026 in June.

Continue reading “India’s first mineral exchange may be operationalised by next fiscal: Official”

Delhi to launch 150 electric buses next month, seeks land for five depots

Delhi to launch 150 electric buses next month, seeks land for five depots

Source : PTI | The Delhi government will launch 150 electric buses next month and has also sought land for depots and charging infrastructure at five locations, Transport Minister Pankaj Singh said on Monday.

He said the government has requested the Delhi Development Authority (DDA) and the Municipal Corporation of Delhi (MCD) for land at certain locations to bolster the required infrastructure. Continue reading “Delhi to launch 150 electric buses next month, seeks land for five depots”

GSRTC deploys 1,000 buses for Ambaji Bhadarvi Poonam Mela pilgrims

GSRTC deploys 1,000 buses for Ambaji Bhadarvi Poonam Mela pilgrims

Source : PTI | The Gujarat State Road Transport Corporation (GSRTC) on Monday flagged off new buses and launched special extra services for pilgrims visiting Ambaji for Bhadarvi Poonam Mela.

Around 1,000 buses will operate nearly 30,000 additional trips, benefiting about 15 lakh pilgrims, officials said. Continue reading “GSRTC deploys 1,000 buses for Ambaji Bhadarvi Poonam Mela pilgrims”

JSW Group powers into Electric Commercial Mobility with AMPSTAR

JSW Group powers into Electric Commercial Mobility with AMPSTAR

By WAF Think Tank

AMPSTAR will offer full-stack commercial mobility solution spanning electric buses and trucks, built at its greenfield facility in Ch. Sambhajinagar, Maharashtra.

 

JSW Greentech Limited, the commercial electric vehicle company of the JSW Group, today launched its brand AMPSTAR, under which it will design, manufacture and sell electric buses and trucks in India. The launch marks the group’s entry into commercial mobility.

The brand will carry the group’s endorsement as AMPSTAR: powered by JSW. AMPSTAR has been designed as a full-stack commercial mobility offering built around the entire customer journey. Alongside the vehicle, it covers charging infrastructure, operating solutions, financing options and after-sales support, so that operators can make the move to electric with confidence. Customers will be offered flexibility to specify across power configurations from 150 kW to 500 kW and choose between outright purchase, leasing, Battery as a Service (BaaS) and other ownership and operating models.

Continue reading “JSW Group powers into Electric Commercial Mobility with AMPSTAR”

India’s semiconductor push targets chips for cars, TVs, power infra: Vaishnaw

India’s semiconductor push targets chips for cars, TVs, power infra: Vaishnaw

Source : PTI | India wants its semiconductor capabilities to reach into everyday products such as cars, televisions and refrigerators, as well as critical power infrastructure in the coming years, Electronics and IT Minister Ashwini Vaishnaw has said, outlining the sheer breadth of chip-making prowess the country aims to build going forward.

The minister’s vision comes as India steps up efforts to establish a larger presence in the global semiconductor value chain, with the government seeking to move beyond chip assembly and testing, and build capabilities spanning design, fabrication, equipment and materials. Under the second phase of the semiconductor programme, the government has committed ₹1.27 lakh crore to expand the domestic ecosystem and attract global investments. Continue reading “India’s semiconductor push targets chips for cars, TVs, power infra: Vaishnaw”

Stellantis takes full ownership of Thiruvallur plant; targets 160% production ramp-up by 2027

Stellantis takes full ownership of Thiruvallur plant; targets 160% production ramp-up by 2027

Source : PTI | New Delhi: Stellantis India has taken full ownership of the manufacturing operations in Thiruvallur, Tamil Nadu and is targeting a production ramp-up from 18,000 units in 2026 to more than 50,000 units annually by 2027.

According to a company statement, Stellantis India has acquired the remaining stake in Stellantis Automobiles India Pvt Ltd from Hindustan Motor Finance Corporation Ltd, a CK Birla Group company. Continue reading “Stellantis takes full ownership of Thiruvallur plant; targets 160% production ramp-up by 2027”

Volvo Cars appoints Skoda chief Klaus Zellmer as new CEO

Volvo Cars appoints Skoda chief Klaus Zellmer as new CEO

(Reuters) – Volvo Cars said on Sunday that Klaus Zellmer would become its president and chief executive officer within a year as it seeks ​to revive sales in an increasingly competitive market.

The Sweden-based automaker, which is ‌majority-owned by China’s Geely Holding [RIC:RIC:GEELY.UL], has struggled to meet previous profitability targets due to tariffs, weaker EV demand and high development costs. Continue reading “Volvo Cars appoints Skoda chief Klaus Zellmer as new CEO”

Czech Republic approves Tesla’s FSD after earlier safety concerns
US lawmakers urge Trump to maintain ban on Chinese automakers

US lawmakers urge Trump to maintain ban on Chinese automakers

WASHINGTON, (Reuters) – More than two dozen Democratic ​lawmakers on Friday urged ‌President Donald Trump to keep in place a ban ​on Chinese automakers out ​of the US market, ⁠ahead of his meeting ​with China’s President Xi ​Jinping this week.

“We urge you to maintain strong protections against Chinese ​automobiles and connected ​vehicle technologies and ensure that China ‌does ⁠not gain access to our market through direct imports, local production, and ​other avenues ​of ⁠circumvention,” said the 27 lawmakers led ​by Representative Debbie Dingell. Continue reading “US lawmakers urge Trump to maintain ban on Chinese automakers”

Volkswagen to ramp up restructuring after profit warning

Volkswagen to ramp up restructuring after profit warning

Summary

  • Volkswagen plans to cut a further 50,000 jobs
  • Automaker cut profit margin outlook on Friday
  • Union leaders call for stronger measures to protect sector

FRANKFURT/BERLIN, (Reuters) – Volkswagen will ramp up its restructuring programme, the head of its core brand said on Monday ‌as German auto workers staged nationwide protests less than three days after the company’s profit warning highlighted sectoral challenges from high costs and fierce Asian competition. Continue reading “Volkswagen to ramp up restructuring after profit warning”

Tesla faces major trial for alleged bias against Black workers, after years of lawsuits

Tesla faces major trial for alleged bias against Black workers, after years of lawsuits

Summary

  • Lawsuit by California agency alleges rampant discrimination
  • If it loses, Tesla could face millions of dollars in damages
  • Dozens of workers have filed individual lawsuits
  • Tesla says it does not tolerate discrimination

(Reuters) – A California agency’s lawsuit accusing Tesla ​of allowing rampant race discrimination at its flagship assembly plant is set to go to trial ‌on Monday, one of a series of similar lawsuits being faced by the electric vehicle maker. Continue reading “Tesla faces major trial for alleged bias against Black workers, after years of lawsuits”

Saudi’s Ceer unveils first EVs in bid to build regional auto powerhouse

Saudi’s Ceer unveils first EVs in bid to build regional auto powerhouse

Summary

  • Wider auto market is grappling with major upheaval
  • Previous Saudi Arabian efforts to launch a domestic auto industry have failed
  • Saudi local supply network has grown

KING ABDULLAH ECONOMIC CITY, Saudi Arabia/LONDON, (Reuters) – Saudi startup Ceer made ​public its first two fully electric vehicle models on Monday and said it will launch five more ‌models by 2030 as part of Saudi Arabia’s goal to create a viable auto industry to curb the country’s dependence on oil. Continue reading “Saudi’s Ceer unveils first EVs in bid to build regional auto powerhouse”

Auto industry urges Trump to keep Chinese automakers out ahead of Xi meeting

Auto industry urges Trump to keep Chinese automakers out ahead of Xi meeting

Summary

  • Six industry groups urge Trump to bar Chinese automakers from selling, importing or manufacturing vehicles in US
  • White House says it is working with US automakers while safeguarding national ​and economic security
  • Biden-era rule effectively bans Chinese automakers from selling or building passenger vehicles in ‌US

WASHINGTON, (Reuters) – Major automakers, suppliers and dealers on Friday urged President Donald Trump to keep Chinese automakers out of the US market, ahead of his meeting with China’s President Xi Jinping next week. Continue reading “Auto industry urges Trump to keep Chinese automakers out ahead of Xi meeting”

Volkswagen to recall over 208,700 US vehicles over steering rack bolt defect, NHTSA says

Volkswagen to recall over 208,700 US vehicles over steering rack bolt defect, NHTSA says

(Reuters) – Volkswagen is recalling 208,724 vehicles in ​the US due to a ‌faulty steering rack bolt that could break and cause ​a loss of steering ​control, the US National ⁠Highway Traffic Safety Administration (NHTSA) ​said on Friday.

Here are some ​details from NHTSA: Continue reading “Volkswagen to recall over 208,700 US vehicles over steering rack bolt defect, NHTSA says”

Credit Acceptance reaches $710 million predatory auto lending settlement with most US states

Credit Acceptance reaches $710 million predatory auto lending settlement with most US states

Summary

  • Credit Acceptance will forgive $634 million of debt for more than 55,000 borrowers
  • Company also accused of selling unnecessary add-on products
  • Credit Acceptance denied wrongdoing

NEW YORK, (Reuters) – Credit Acceptance Corp agreed to a $710 million settlement with 40 ‌U.S. states and Washington, D.C. to resolve charges it drove thousands of borrowers with low incomes and low credit scores into predatory auto loans it knew they could not afford. Continue reading “Credit Acceptance reaches $710 million predatory auto lending settlement with most US states”

Hyundai Motor CEO warns of Chinese vehicle surge in the US without guardrails

Hyundai Motor CEO warns of Chinese vehicle surge in the US without guardrails

Summary

  • Hyundai Motor CEO: Chinese cars could surge into US without protections
  • Munoz: US needs to impose conditions on Chinese companies
  • Munoz: Hyundai needs more time on self-driving technology

SAN JOSE, California/SEOUL, (Reuters) – Hyundai Motor CEO Jose Munoz warned on Thursday that the US could face a similar ​wave of Chinese auto imports that has disrupted Europe’s car market unless Washington maintains tariffs and other market-access safeguards. Continue reading “Hyundai Motor CEO warns of Chinese vehicle surge in the US without guardrails”

Toyota estimates factory automation could cost $6.4 billion per year from 2028

Toyota estimates factory automation could cost $6.4 billion per year from 2028

TOKYO, (Reuters) – Toyota Motor estimates it could cost 1 trillion yen ($6.4 billion) annually from 2028 to modernise its ​factories as the world’s biggest carmaker accelerates automation ‌and robotics deployment.

Across the industry, automakers are turning to robotics to cut costs and address ageing infrastructure and labour shortages, ​a strategy that analysts say could open a ​growth avenue beyond vehicle manufacturing. Continue reading “Toyota estimates factory automation could cost $6.4 billion per year from 2028”