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”

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

• Tesla’s China-made EV sales rise despite weak domestic demand
• China’s EV sales and exports grow by 1% year-on-year in January
• BYD reports 30% decline in global sales due to revised subsidy scheme

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

• Company forecasts Q1 adjusted profit below estimates
• CFO Mahendra-Rajah to step down, Balaji Krishnamurthy to succeed
• Forecasts Q1 gross bookings above Wall Street expectations
• Uber plans robotaxi expansion to Madrid, Hong Kong, Houston, Zurich

(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

• Ford and Geely discuss using Ford’s European factory space
• Talks include shared vehicle technologies including for automated driving
• More automakers are seeking out partnerships to defray costs

(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

• Waymo defends safety record amid federal investigations
• Waymo urges Congress to advance self-driving legislation
• Tesla warns of China’s potential dominance in AV technology

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.

Continue reading “Focus on building value chain in critical minerals in Budget vital enabler for EVs, next-gen mobility: Industry”

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

• Program limited to first-time EV buyers, requires automaker matching funds
• Newsom criticized GM CEO for undermining California’s EV progress
• Automakers face challenges with declining EV sales and regulatory changes

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”

Summary

• Biden had sought truck fleet mileage of 35 mpg by 2035
• Trump’s NHTSA says those standards were unrealistic
• Revised rules expected to cut lvehicle costs, raise refueling costs

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

• SpaceX-Tesla merger seen as less likely in short term, analysts and investors say
• Potential advantages include satellites powering robots and robotaxis
• Many Musk investors want more opportunities to make bets across empire

(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, 29^th 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”

(Reuters) – Hyundai Motor is recalling 568,576 Palisade sports utility vehicles in the U.S. over improper deployment of side curtain airbags, the National Highway Traffic Safety Administration (NHTSA) said on Thursday.

NHTSA said the side curtain air bags for third-row occupants in these SUVs may deploy improperly in a crash, adding that the remedy is currently under development.

NHTSA said that the air bags involved in the recalls were supplied to Hyundai by Sweden’s Autoliv, which is the world’s largest producer of air bags and seatbelts. Continue reading “Hyundai to recall about 569,000 SUVs in US over faulty deployment of air bags”

LONDON, (Reuters) – U.S. robotaxi company Waymo said on Wednesday it was aiming to launch its fully driverless ride-hailing service in London by the fourth quarter of 2026.

The company, a unit of Google parent Alphabet, has grown slowly but steadily over the years in the United States despite tough regulations and expensive technology, enabling it to look at scaling up its presence abroad. Continue reading “US robotaxi group Waymo aims to launch in London by fourth quarter of 2026”

Summary

• Tesla’s $2 billion investment in xAI supports autonomous driving ambitions
• Cybercab production plans crucial for investor confidence amid past missed targets
• Energy and storage business a bright spot with record $3.84 bln revenue in Q4
• Capex will more than double this year, CFO says

(Reuters) – Tesla said on Wednesday 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 news supported Musk’s plan to pivot Tesla from an electric vehicle maker to an AI company, which is key to the company’s roughly $1.5 trillion valuation, while ‌reassurance of production plans is critical for investor confidence as Tesla has repeatedly fallen short of promises made by Musk. Continue reading “Tesla invests $2 billion in Musk’s xAI and reiterates Cybercab production starts this year”

Summary

• Raises truck market forecasts for Europe and North America
• Shares up more than 2% in early trade

STOCKHOLM, (Reuters) – Volvo Group raised its forecasts for stabilising European and North American markets on Wednesday despite a drop in fourth-quarter profit that prompted a dividend cut.

Profit continued to tumble as the sector contends with a more than three‑year slump in the United States owing to lower freight volumes in the face of policy and tariff uncertainty. Continue reading “Truckmaker Volvo flags improved outlook after quarterly profit drop”

Summary

• Investors list China, software as top challenges
• Volkswagen turns to foreign partners to plug gaps
• Porsche crisis looms over Blume’s legacy
• Top shareholder awaiting ‘implementation’ of strategy

BERLIN, (Reuters) – Volkswagen CEO Oliver Blume faces a defining test this year, investors say: to prove he can stem a slide in China and close a tech gap to rivals, regarded as the essential elements for a successful turnaround of the German automaker.

Forced to end his dual-role as boss of both Volkswagen and Porsche from January following the sports car division’s slide into crisis, Blume got a vote of confidence in the form of a five-year extension to his group CEO contract. Continue reading “Volkswagen CEO Blume, free of Porsche role, under pressure to deliver on turnaround”

Source : PTI | In its bid to strengthen checks on polluting vehicles in the city, the transport department has directed all PUC centres to strictly enforce norms set by the government, officials said on Tuesday.

According to an order issued by the Delhi transport department, after routine checks of the pollution under check (PUC) centres, it was found that video clips of vehicle emission testing are not being uploaded in the prescribed format.

Continue reading “Delhi Transport department issues directive for proper checks at PUC centres”