Summary

• Exports to reach 600,000-775,000T in July – trade, Vortexa
• NW Europe prices about $65/T higher than Asia this month – LSEG data
• July LR2 shipping costs fall to $3.75 million from $4.4 million in June – SSY Tanker data

SINGAPORE, (Reuters) – Jet fuel exports from South Korea, China and Southeast Asia to Europe likely hit a multi-year high in July as traders shipped out excess regional supply to cash in on higher European prices, according to shiptracking data and industry sources. Continue reading “Key Asian fuel exporters boost jet fuel sales to Europe in July, sources say”

Seoul, (Reuters) – Shares of South Korean automakers Hyundai Motor and Kia Corp fell on Thursday after U.S. President Donald Trump said the U.S. will charge a 15% tariff on imports from South Korea, including autos, as part of a trade deal.

Hyundai Motor shares were down 2% and Kia Corp stock lost 3.3%.

The deal reduces U.S. tariffs on South Korean autos from 25% to 15%, the same rate as Japanese car imports. Continue reading “South Korean auto shares dip after Korea-U.S. trade deal”

Summary

• Provost worked closely with former CEO De Meo on strategy
• Will oversee implementation of a new strategic plan
• Appointment comes as Renault faces fierce competition

PARIS, (Reuters) – Renault named Francois Provost as CEO on Wednesday, opting for a low-profile insider to steer the French carmaker through growing competition and weak demand that triggered a profit warning earlier this month. Continue reading “Renault taps insider Provost as new CEO to keep growth strategy on track”

AMSTERDAM, (Reuters) – A Dutch court on Wednesday said diesel cars sold by Opel, Peugeot, Citroen and DS in the Netherlands from 2009 contained software designed to cheat emissions tests.

In its intermediary ruling in a class action suit brought by three organisations against Stellantis, which now owns the targeted car companies, the court did not determine whether any compensation should be paid. Continue reading “Dutch court says diesel brands now owned by Stellantis had cheating software from 2009”

(Reuters) – Mercedes-Benz will pause deliveries of its EQ electric range to the United States and cut prices of new EQ models there, the carmaker said on Wednesday, responding to slowing demand and high inventories at dealerships.

Since President Donald Trump’s spending bill earlier this month cut tax EV credits sooner than anticipated, analysts have warned that the U.S. EV market would underperform expectations this year. Continue reading “Mercedes-Benz to cut EV prices in the US, pause some deliveries as demand falters”

Summary

• Ford sees $3 billion gross tariff hit in 2025, up from previous $2.5 billion estimate
• Automaker said tariffs added $800 million in expense in the second quarter
• Ford issues annual guidance of EBIT $6.5 billion-$7.5 billion

DETROIT, (Reuters) – Ford Motor said on Wednesday that U.S. tariffs on imported vehicles, as well as on steel and aluminum, will likely cost more than expected for the year, and the automaker’s shares slid about 3% in after-market trading. Continue reading “Ford raises projected tariff hit to results, shares drop 3%”

Summary

• Porsche, Aston Martin flag U.S. price hikes
• US-EU trade deal imposes 15% tariffs, averts larger trade war
• Mercedes, Porsche cool hopes of auto specific trade deals

BERLIN, (Reuters) – European luxury carmakers including Porsche and Aston Martin have surged ahead with U.S. price hikes, which could point the way for bigger brands to follow in their wake as companies pass on the cost of tariffs. Continue reading “Porsche, Aston Martin hike US prices as hopes for tariff sweeteners fade”

Source : PTI | Beginning August 1, two-wheeler riders without helmets will not be allowed to refuel at petrol pumps in Indore district, a move aimed at curbing violation of traffic rules, officials said.

An order to this effect was issued on Wednesday.

The order followed directions issued by the chairman of the Road Safety Committee of the Supreme Court and former judge Justice Abhay Manohar Sapre at a meeting held on Tuesday. Continue reading “No helmet, no petrol in Indore district from Aug 1”

Source : PTI | Markets regulator Sebi on Wednesday upheld its interim order restraining Gensol Engineering and its former top executives Anmol Singh Jaggi and Puneet Singh Jaggi from the securities markets on concerns over fund diversion and corporate governance failures.

Additionally, the regulator said Jaggi brothers, also cofounders of EV ride-hailing firm BluSmart Mobikity, would continue to be debarred from holding the position of a director or key managerial personnel in Gensol. Continue reading “Sebi confirms ban on Gensol, Jaggi brothers in fund diversion case”

Boulogne-Billancourt, July 30, 2025 – The Renault Group Board of Directors, meeting today under the chairmanship of Jean-Dominique Senard, decided, following recommendation from the Governance and Remuneration Committee, to appoint François Provost as Chief Executive Officer of Renault S.A. and Chairman of Renault s.a.s., effective July 31, for a term of four years. The Board also appointed François Provost as Director of Renault S.A. and Renault s.a.s.

Previously Chief Procurement, Partnerships and Public Affairs Officer, François Provost is an experienced executive with 23 years of service within the Group. With a strong international experience in both operational and strategic roles, an in-depth understanding of the sector’s challenges, and a strategic vision, François Provost has the qualities required to continue and accelerate the development of Renault Group. Furthermore, his attributes will ensure the continuity of the Group’s development, particularly internationally, and through partnerships, capitalise on its strategic agility, and maintain high performance standards, in full respect of the company’s values. Continue reading “Renault Group appoints François Provost as Chief Executive Officer and Director”

SEOUL, (Reuters) – Hyundai Motor Group Executive Chair Euisun Chung will travel to Washington on Wednesday to support South Korea’s push for a trade deal with the United States, the Yonhap news agency reported.

Other South Korean business leaders have also visited the United States. Samsung Electronics Chairman Jay Y. Lee left for Washington on Tuesday while the vice chairman of Hanwha Group was also reported to have travelled to the United States. Continue reading “Hyundai Motor Group Chair Chung heads to US to back South Korea trade talks – Yonhap”

Summary

• LGES to provide Tesla with LFP batteries for energy storage systems from US factory -source
• Tesla has been looking to reduce reliance on Chinese suppliers due to US tariffs
• LGES says supply contract to last from August 2027 to July 2030

SEOUL, (Reuters) – South Korea’s LG Energy Solution (LGES) has signed a $4.3 billion deal to supply Tesla with energy storage system batteries, said a person familiar with the matter, as the U.S. company looks to reduce reliance on Chinese imports due to tariffs. Continue reading “Exclusive: Tesla signs $4.3 billion LGES battery deal, source says, reducing China reliance”

(Reuters) – Global paint supplier PPG Industries missed Wall Street expectations for second-quarter profit on Tuesday, hurt by the impact of recent business divestitures and softer demand in key markets.

Last year, PPG sold both its architectural coatings business in the United States and Canada to American Industrial Partners for about $550 million and its silica business to QEMETICA for $310 million. Continue reading “PPG Industries misses quarterly profit estimates as divestitures, soft demand weigh”

Summary

• 1.5 billion euro tariff hit at top end of earlier guidance
• New CEO Filosa aims to restore growth after US market struggles
• Shares pared early losses after Filosa’s call with analysts

MILAN, (Reuters) – Stellantis warned on Tuesday of a 1.5-billion-euro ($1.7 billion) hit from U.S. tariffs this year, but pledged new vehicle launches to reconnect with customers as its new CEO tries to get the automaker back on track after a dismal 2024. Continue reading “Stellantis vows to reconnect with customers as it flags $1.7 billion US tariff hit for 2025”

TOKYO, (Reuters) – Japanese automaker Nissan said on Wednesday that the company would stop production at its Civac plant in Mexico by March 2026 as part of its global restructuring plan.

The embattled automaker would integrate vehicle production from its Civac plant to its Aguascalientes complex in Mexico during the current financial year, the company said in a statement. Continue reading “Nissan to stop production at Civac plant in Mexico by March 2026”

Source : PTI | State-owned NLC India Ltd is exploring possibilities to source rare earth element from overseas and the company has also begun preliminary talks for lithium blocks in Mali, West Africa and for copper and cobalt mines in the Republic of the Congo, its CMD Prasanna Kumar Motupalli said.

The remarks came amid China’s recent curbs on exports of rare earth elements, impacting the global supply chain of the critical mineral which has diverse usage ranging from the manufacturing of home appliances to electric vehicles.

Continue reading “NLC India exploring possibilities to source rare earth from overseas: CMD”

Source : PTI | State-owned NTPC Green Energy Limited has plans to set up renewable energy and battery energy storage projects (BESS) in Bihar, a move which will increase the company’s portfolio and presence in the clean energy space.

The company has signed a Memorandum of Understanding (MoU) with Bihar State Power Generation Company Limited (BSPGCL) to take forward its plans. Continue reading “NTPC Green Energy looks to develop RE, battery energy storage projects in Bihar”

Summary

• Deal lowers tariffs but still costly for carmakers
• German automotive industry faces billions in costs annually
• Volkswagen, BMW, Mercedes lead share fall

BRUSSELS, (Reuters) – Europe’s carmakers, already battling stiff competition from Asia and a costly transition to electric cars, were dealing with another dose of reality on Monday – tariffs imposed by U.S. President Donald Trump. Continue reading “European carmakers get a reality check from Trump as shares slide”

(Reuters) – Harley-Davidson is in talks with Pacific Investment Management Co and KKR & Co. to sell a stake in its financing unit and existing motorcycle loan portfolio in a deal worth $5 billion, Bloomberg News reported on Monday.

Shares of the company were up 1.9% in extended trade.

Conversations are ongoing, and a deal may be announced within weeks, while details and size of it may change, the report said, citing people familiar with the matter. Continue reading “Harley-Davidson in talks to sell stake in financing unit, Bloomberg News reports”

Seoul, (Reuters) – Shares in Samsung Electronics came under pressure on Tuesday, following a powerful rally the previous day after the South Korean technology company clinched a $16.5 billion deal to supply artificial intelligence chips to Tesla.

Analysts said the deal could bolster the technology company’s unprofitable contract manufacturing business, but Samsung faces challenges in securing additional large customers both for logic chips and memory chips where it struggles against TSMC and SK Hynix. Continue reading “Samsung Electronics shares retreat after Tesla deal, as challenges remain”

BEIJING, (Reuters) – Changan Automobile has begun operating as an independent automaker controlled by China’s central government, state television CCTV reported on Tuesday.

The spin-off from state-owned China South Industries Group Corp was established in Chongqing on Tuesday. Continue reading “China’s Changan restructured as independent state-owned automaker, CCTV reports”

Summary

• Startup Slate Auto faces challenges with expiring federal tax credit
• Bezos-backed firm’s minimalist design aims to keep costs low
• Company is counting on younger consumers’ growing appetite for no-frills, affordable cars

(Reuters) – When Will Haseltine saw images online of a small, boxy electric pickup from startup Slate Auto this past spring, he got on the waitlist right away. The sparse interior and crank windows reminded him of the no-frills pickups he grew up around in Memphis, Tennessee – but he was most enamored with the sub-$20,000 price tag. Continue reading “This Bezos-backed EV startup is betting you’ll pay extra for a stereo in your petite pickup”

Summary

• Samsung shares close up 6.8%, Tesla up 4.2%
• Musk says Samsung’s new Texas factoroy to make Tesla’s AI6 chip
• Texas factory vital to Samsung’s plans to do more contract work

(Reuters) – Tesla has signed a $16.5 billion deal to source chips from Samsung Electronics, a move that could bolster the South Korean tech giant’s unprofitable contract business but is unlikely to help Tesla sell more EVs or roll out robotaxis more quickly. Continue reading “Tesla-Samsung $16.5 billion supply deal may spur chipmaker’s US contract business”

(Reuters) – Alphabet’s Waymo said on Monday it will roll out its autonomous ride-hailing service in Dallas in 2026, accelerating its U.S. expansion as electric vehicle maker Tesla pushes to grow its recently launched robotaxi business.

After years of cautious growth, Waymo has recently increased its pace, launching in new cities through partnerships with ride-hailing platforms and fleet operators. Continue reading “Waymo to launch autonomous ride-hailing in Dallas next year”

• Summary
• Deal includes $600 bln EU investments in US, more EU energy, defence purchases
• 15% tariff better than threatened 30%, in deal mirroring Japan’s
• EU says rate extends to cars, pharmaceuticals, semiconductors
• US steel and aluminium tariffs stay at 50%, but could fall later

TURNBERRY, Scotland, (Reuters) – The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods – half the threatened rate – and averting a bigger trade war between the two allies that account for almost a third of global trade. Continue reading “US and EU avert trade war with 15% tariff deal”

Summary

• Euro rises against dollar, pound, yen after deal announcement
• S&P 500 e-minis up 0.3%
• Trade deal averts spiraling row between the two allies
• Deal includes 15% tariff on EU imports to US

NEW YORK, (Reuters) – Investors appeared to embrace news of a trade deal between the U.S. and European Union on Sunday that is expected to bring clarity for companies and some certainty to markets ahead of U.S. President Donald Trump’s Friday tariffs deadline. Continue reading “Euro, US stock index futures climb after US-EU trade deal”

Summary

• Samsung signs $16.5 billion chip supply deal, shares rise 3.5%
• Samsung struggles with AI chip competition, losing market share to TSMC

SEOUL, (Reuters) – Tesla CEO Elon Musk said on Monday that the U.S. automaker has signed a deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant’s loss-making contract manufacturing business. Continue reading “Musk says Tesla, Samsung Electronics sign chip supply deal”

Source : PTI | Exide Industries on Saturday said it is strategically poised to lead the future of energy storage through a dual-pronged focus on its conventional lead-acid battery business and the next-generation lithium-ion segment.

Speaking at the company’s 78th Annual General Meeting, Exide Industries chairman Sridhar Gorthi said, “Despite the macroeconomic headwinds and a slowdown in capex across sectors, your company has demonstrated resilience and reaffirmed the commitment to new horizons of innovation, operational excellence, and sustainable growth.” Continue reading “Exide charts growth path with focus on lead-acid, lithium-ion batteries”

WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration said on Friday it has closed a 14-month investigation into a series of minor collisions and unexpected behavior from Alphabet’s Waymo self-driving vehicles without taking further action.

The U.S. auto safety regulator in May 2024 opened an investigation after 22 reports about Waymo robotaxis exhibiting driving behavior that potentially violated traffic safety laws, or demonstrating other “unexpected behavior,” including 17 collisions. Continue reading “US closes probe into Waymo self-driving collisions, unexpected behavior”

SHANGHAI, (Reuters) – Tech firms huge and small will converge in Shanghai this weekend to showcase their artificial intelligence innovations and support China’s booming AI sector as it faces U.S. sanctions.

Chinese companies from heavy hitters Huawei and Alibaba to ambitious startups will dominate the two-day World AI Conference, but Western names like Tesla, Alphabet and Amazon will also participate. Continue reading “Tech firms to showcase AI innovations in a China under US sanctions”

(Reuters) – Tesla said on Friday it had received a number of shareholder proposals regarding the company’s plan to invest in CEO Elon Musk’s artificial intelligence startup xAI.

Musk ruled out a merger between Tesla and xAI earlier in July, but said he planned to hold a shareholder vote on investment in the startup by the automaker. Continue reading “Tesla gets multiple shareholder proposals related to investment in xAI”

Summary

• 2025 margin seen in 4-5% range (5.5-6.5% previously)
• Tariffs cost Volkswagen 1.3 bln euros in H1
• CEO says cuts must be accelerated
• Earnings dropped 29% in Q2 on tariffs, higher EV sales

BERLIN, (Reuters) – Volkswagen reported a 1.3-billion-euro ($1.5-billion) first-half hit from tariffs and cut its full-year sales and profit margin forecasts in the German carmaker’s first assessment of the damage from U.S. President Donald Trump’s trade war. Continue reading “Volkswagen cuts 2025 guidance after $1.5-billion tariff hit in first half”

(Reuters) – Tesla plans to offer a chauffeur-style service operated by human drivers to a limited number of people in the San Francisco Bay Area, a California regulator said on Friday, contrary to a media report that the EV maker would offer a robotaxi service.

Unlike Alphabet’s Waymo unit, Tesla cannot operate its service using autonomous vehicles because the EV maker does not have the required permits and has not applied, according to a spokesperson for the California Public Utilities Commission. Tesla did not respond to a request for comment. Continue reading “Tesla to roll out human-driven chauffeur service in Bay Area, California regulator says”

Source : PTI | India has provided duty concessions to the UK auto exporters only on large petrol and diesel vehicles and high-priced EVs, while protecting sensitive segments of the domestic automotive industry especially mid and small cars and low-priced EVs under the trade pact, an official said.

No concessions are given to electric, hybrid, and hydrogen-powered vehicles in the first five years of the agreement. Continue reading “Duty concessions to UK only on large petrol, diesel vehicles, high-priced EVs: Official”

Source : PTI | Under the pact, which has been termed Comprehensive Economic and Trade Agreement (CETA), tariffs on Scotch whisky will be reduced from 150 per cent to 75 per cent immediately, and further lowered to 40 per cent by 2035.

On automobiles, India will reduce import duties to 10 per cent over five years, down from the current rate of up to 110 per cent, under a liberalised quota system. Continue reading “India likely to gain 5% additional market share in UK within 2 yrs”

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