(Reuters) – A U.S. appeals court on Friday voided a Biden administration-era rule that changed the calculation of the petroleum-equivalent fuel economy of electric vehicles, a victory for 13 Republican state attorneys general who said the rule overstated EVs’ efficiency.

The 8th U.S. Circuit Court of Appeals in St. Louis said the Department of Energy exceeded its authority by deciding to phase out during the 2027 to 2030 model years a “fuel content” factor that artificially inflated EV fuel economy, rather than eliminating that factor. Continue reading “US appeals court voids Biden-era electric vehicle fuel economy rule”

Summary

• Tesla moved its legal home to Texas from Delaware last year
• Texas makes it harder for shareholders to challenge Musk’s pay package
• Musk will be able to vote on the pay plan

WILMINGTON, Delaware, (Reuters) – Elon Musk’s blow-out $1 trillion pay package from Tesla proves everything is bigger in Texas, especially under its new management-friendly law.

Last year, Tesla reincorporated in the Lone Star State after a judge in its former corporate home, Delaware, ruled a $56 billion compensation for the CEO was “unfathomable” and unfair to shareholders. Musk urged companies to ditch Delaware and his board worked on a new pay package. Continue reading “Musk’s Texas-sized $1 trillion payday enabled by state’s new law”

Summary

• Shareholders likely to approve Musk’s $1 trillion pay package
• Critics argue package is excessive and sets bad corporate governance precedent
• The board met 37 times with its lawyers and 10 times with Musk

NEW YORK, (Reuters) – Tesla’s $1 trillion, 10-year pay package to retain CEO Elon Musk is likely to be approved by shareholders at the company’s annual meeting in November even though the amount is staggering.

That is because it was crafted with an eye on keeping Musk in place, addressing concerns about the company’s technical outlook and giving big company owners just enough reason to back the massive amount, investors and executive pay analysts said. Continue reading “Tesla’s ‘Super Ambitious’ $1 trillion deal for Musk could still pass shareholder muster”

Source : PTI | A Sri Lankan court here on Wednesday ordered the release of a second lot of Chinese BYD electric vehicles (EVs), held by the Customs over an alleged misrepresentation of their motor power.

The Court of Appeal’s verdict to release 506 Chinese EVs came after the official dealer, John Keells CG Auto, sought relief for the second time within a month.

Continue reading “Sri Lanka Customs to release over 500 BYD EVs after judicial intervention”

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(Reuters) – Vietnamese electric-vehicle maker VinFast on Thursday reported a wider second-quarter net loss as it stepped up spending on global expansion and marketing to spur demand and support its ambitious growth strategy.

The EV maker, however, reaffirmed its commitment to achieving breakeven by the end of 2026. Founder and CEO Pham Nhat Vuong last month pledged an additional $1.5 billion to the automaker in exchange for R&D assets to support its expansion plans. Continue reading “EV maker VinFast’s quarterly loss widens amid heavy spending on ambitious growth strategy”

By Mobility Outlook

SWITCH Mobility, part of the Hinduja Group and a global leader in electric buses and light commercial vehicles, has commenced deliveries of its SWITCH EiV12 low-floor electric city buses to the Department of Transport, Delhi. The 950-unit order, awarded under the CESL tender, was flagged off by Hon’ble Chief Minister Rekha Gupta, along with senior dignitaries including Transport Minister Dr Pankaj Singh, MP Sh. Manoj Tiwari, and senior executives from SWITCH Mobility and Delhi Transport Corporation.

The 12-meter bus offers seating for 39 passengers and features a wheelchair ramp, CCTV cameras, panic buttons, and GPS tracking. Its ultra-low-floor design ensures easy boarding, while LFP batteries and a fire detection and suppression system enhance stability and safety. Continue reading “SWITCH Mobility Flags Off First Batch Of 950 Electric Buses For Delhi”

STOCKHOLM, (Reuters) – Volvo Cars sold 48,029 cars in August, down 9% from a year earlier, the Sweden-based company said on Thursday.

Volvo Cars, which is majority-owned by China’s Geely, said in a statement sales of fully electric cars fell 28% to account for 20% of total sales volumes.

Sales of electrified cars as a whole, also including plug-in hybrids, were down 17% and accounted for 43% of total sales volumes. Continue reading “Volvo Cars’ August sales fall 9%”

TOKYO, (Reuters) – Japan and the United States are in the final stages of talks to implement lower tariffs on Japanese automobile imports within 10-14 days after the issuance of a U.S. presidential executive order, a Japanese government source told Reuters on Thursday.

That means that a reduced U.S. tariff rate on Japanese cars, from the current 27.5% to 15%, is set to take effect by the end of this month, said the source, who declined to be identified as the matter is confidential. Continue reading “Exclusive: Japan, US near deal to bring lower auto tariffs into effect, source says”

Summary

• Investment not a lump-sum, tailored to project demands, says Lee Hyoung-il
• Lee says to act to stabilise FX market if needed
• Expects South Korea’s economy to grow 1.8% next year

SEOUL, (Reuters) – South Korea’s pledge to invest $350 billion in strategic U.S. industries as part of a trade deal with Washington is likely to be led by state policy institutions that will provide funding on a case-by-case basis, the country’s vice finance minister said.

Under a trade deal struck in July to cap U.S. tariffs at 15%, the countries agreed to a financial package to support industries such as shipbuilding, key minerals, batteries, pharmaceuticals, chips and AI, although officials in Seoul have said details on implementing the plan still need to be hashed out. Continue reading “Exclusive: Top South Korea official says policy institutions to lead on $350 billion US fund, watching FX”

Summary

• Chinese investments in Brazil double to $4.2 billion in 2024
• U.S. remains top investor in Brazil with $8.5 billion in 2024
• Chinese firms struggle with Brazil supply chains, labor laws

SAO PAULO, (Reuters) – Brazil has emerged as the third-biggest destination for Chinese investments in the world, a study showed, with dozens of projects across several sectors attracting $4.2 billion last year, as the two countries tightened diplomatic ties.

The study by the Brazil-China Business Council (CEBC), a think tank, showed Chinese direct investment in Brazil more than doubled in 2024 from 2023, as companies continued to pour money into energy projects and entered new areas, such as electric cars and food delivery. Continue reading “Chinese investment doubles in Brazil, jumping to No. 3 destination”

SEOUL, (Reuters) – The union of South Korean carmaker Hyundai Motor will stage partial strikes over three days this week at plants across South Korea, in a push for shorter working hours and higher wages, according to a notice sent to members of the union.

The company’s Korean union, which has about 40,000 members, will launch the partial strikes at various plants including factories in Ulsan, Jeonju and Asan, the notice said. Workers will leave work for two hours on Wednesday and Thursday and four hours on Friday, it said. Continue reading “Hyundai Motor union launches strikes in South Korea over wages, working hours”

STOCKHOLM, (Reuters) – Swedish electric vehicle maker Polestar reported a wider loss for the second quarter on Wednesday, after tariffs and intensifying price pressure led to an impairment charge of its Polestar 3, sending its U.S.-listed shares down 11%.

U.S. trade tariffs on global trading partners have hit the automotive industry hard, with automakers including Polestar scrambling to adjust supply chains and shift manufacturing to mitigate the impact. Continue reading “EV maker Polestar takes tariff hit, reports wider quarterly loss”

Summary

• BYD faces slowest annual growth in five years
• BYD’s new target below analysts’ forecasts
• BYD sees sales of 4.6 mln vs 5.5 mln previously

(Reuters) – BYD has slashed its sales target for this year by as much as 16% to 4.6 million vehicles, two people with knowledge of the matter said, as the Chinese EV giant faces its slowest annual growth in five years and other signs that its era of record-setting expansion could be drawing to a close.

China’s largest automaker told analysts in March it was targeting sales of 5.5 million vehicles for 2025. But internally, the number has been downgraded multiple times in recent months, according to the people. Continue reading “China’s BYD cuts sales target, sources say, as white hot growth cools”

Source : PTI | Tyre maker Ceat on Tuesday said it expects the Camso brand integration with itself to give a 10-15 per cent boost to its topline.

The Mumbai-headquartered firm reported revenue of ₹13,218 crore for FY25.

Last December, Ceat entered into a definitive agreement with Michelin to acquire its Camso brand’s off-highway construction equipment bias tyres and tracks business for about $225 million. Continue reading “Ceat expects Camso integration to boost its topline by 10-15%”

ISTANBUL, (Reuters) – Tesla’s auto sales soared in Turkey in August, reaching the No. 2 spot ahead of traditional European and Japanese rivals, as the U.S. brand benefited from buyers’ seeking tax breaks and a currency hedge.

The electric vehicle (EV) maker sold 8,730 Model Y’s, up 86% from the previous month, in sharp contrast to a sales rout in some parts of Europe amid fierce competition from China’s BYD and a backlash against CEO Elon Musk. Continue reading “Tesla sales soar in Turkey, becomes No. 2 brand in August”

Summary

• Modi eyeing major tax overhaul to consumer levies
• Indian tax panel proposes lifting tax on higher-end EVs
• India taxes all electric cars at 5% now
• Tata, BMW say tax hike to hurt EV adoption in India
• Final decision to be taken by GST Council on Sept 3-4

NEW DELHI, (Reuters) – An Indian tax panel has proposed steep increases in consumer levies on luxury electric cars priced above $46,000, a government document showed, a move that could impact sales of carmakers such as Tesla Mercedes-Benz, BMW and BYD.

Prime Minister Narendra Modi is aiming to reform India’s tax system and is pushing Indians to buy more domestic goods just when relations with the United States have soured due to high tariffs. His government has recommended hefty cuts in the goods and services tax (GST) that could make everything from shampoos to electronics cheaper. Continue reading “India tax panel calls for steep levies on luxury EVs in blow for Tesla, BMW”

(Reuters) – Jaguar Land Rover’s retail and production activities have been “severely disrupted” following a cybersecurity incident, the British luxury carmaker said on Tuesday, adding that it was working to restart its operations in a controlled manner.

The company, owned by India’s Tata Motors said it had not found any evidence at this stage that any customer data had been stolen after it shut down its systems to mitigate impact. It did not provide further details. Continue reading “Britain’s JLR hit by cyber incident that disrupts production, sales”

(Reuters) – French carmaker Renault appointed former Mercedes-Benz vice president Katrin Adt as managing director of its low-cost Dacia brand, the company said on Monday, as it revamps its management team under new CEO Francois Provost.

Adt will succeed Denis Le Vot. Le Vot was among the frontrunners for the Renault chief executive job and will now leave the company, the group said.

It also appointed Fabrice Cambolive, currently head of the Renault brand, to the newly created role of chief growth officer for the group. Continue reading “Renault hires ex-Mercedes executive Katrin Adt to run Dacia brand”

BEIJING, (Reuters) – Tesla Inc lowered the price for its Model 3 rear-wheel drive version in China by 3.7% to 259,500 yuan ($36,278.99), its website showed on Monday.

The U.S. automaker launched the new Model 3 variant, its longest-range Tesla model, in China last month. Continue reading “Tesla cuts price for long-range RWD Model 3 in China”

BERLIN, (Reuters) – Volkswagen’s Audi could target long-term annual sales of at least 2 million cars, up a fifth from 2024, under a new strategy the premium brand is expected to release later this year, according to a person close to the matter.

The potential target, previously unreported, would be an annual record for the German luxury carmaker and points towards a more aggressive approach after some tough years that have seen its sales slip. Continue reading “Audi considers record 2 million car sales target in strategy revamp, source says”

Summary

• BYD production fell 3.78% from a year earlier in August
• Follows a 0.9% drop in July
• BYD is slowing production amid growing pressures in China

SHANGHAI, (Reuters) – BYD’s production slid for a second straight month in August, marking its first consecutive monthly contraction since 2020 in a further sign that the Chinese EV giant is putting the brakes on its massive years-long expansion.

The world’s biggest EV producer made 353,090 electric vehicles and plug-in hybrids (PHEV) globally last month, down 3.78% from a year earlier, according to a monthly filing with the Hong Kong Stock Exchange on Monday. That follows a 0.9% drop in July. Continue reading “BYD records consecutive monthly production drops for first time since 2020”

HELSINKI, (Reuters) – Chinese battery maker Contemporary Amperex Technology (CATL) is selling its 20.6% stake in subcontract Finnish car maker Valmet Automotive to the Finnish state and another shareholder, Finland’s government said on Monday, amid low electric car sales in Europe.

The Finnish state, which already owns 44.96% of Valmet Automotive through its investment company Finnish Industry Investment Ltd, did not say how much CATL was selling its stake for but said the government would also inject an additional 35 million euros ($40.97 million) of new capital into the car factory. Continue reading “China’s CATL sells stake in Finnish subcontract car manufacturer”

HONG KONG, (Reuters) – Shares in electric vehicle maker BYD slid on Monday after it reported quarterly profit fell for the first time in more than three years, with analysts saying its competitive advantage was being eroded by Chinese government efforts to stop a price war.

Net profit at the world’s biggest EV producer tumbled 30% in the second quarter to 6.4 billion yuan ($895 million) from a year earlier, it reported. That followed a doubling of profit in the first quarter. Continue reading “BYD’s shares slide after steep fall in quarterly profit”

Summary

• Tesla sales fall in August in France, Sweden, Denmark, Netherlands, Italy
• Sales rise in Norway and Spain but by much less than BYD’s
• Tesla’s lineup relatively small and ageing
• A consumer backlash against CEO Musk has also hurt sales

LONDON, (Reuters) – Tesla’s sales rout this year in a number of European markets continued in August amid fierce competition from China’s BYD and a backlash against CEO Elon Musk, although Norway, Spain and Portugal bucked the trend.

Tesla has a small lineup and has not released a new mass-market model since the Model Y in 2020, while new Chinese rivals and traditional automakers alike are flooding the market with fresh models. Continue reading “Tesla’s sales rout in some European markets extends to eighth month”

Boulogne-Billancourt, September 1st, 2025 – Following his appointment on July 31st, Renault Group’s new CEO, François Provost, announces a series of executive moves and organisational updates, effective immediately.

“To meet the challenges ahead, we need an organisation that decides faster, executes smarter and stays closer to our customers. Today’s leadership changes bring together talented executives with deep industry knowledge, strong expertise and, above all, the internal credibility to make a difference,” said François Provost, CEO of Renault Group. Continue reading “Renault Group Strengthens Leadership and Organisation to Accelerate Execution”

Bengaluru, 01 September 2025: Toyota Kirloskar Motor (TKM) today declared its sales performance as follows:

Month on Month Growth: [August 2025 VS August 2024]

This includes 29,302 units sold in the domestic market and 4,934 units exported. Continue reading “Toyota Kirloskar Motor Sells 34,236 units in August 2025”

SAO PAULO, (Reuters) – Volkswagen’s Brazil unit has been ordered to pay 165 million reais ($30.44 million) in damages for subjecting workers on a farm to slavery-like conditions in the 1970s and 1980s, labor prosecutors said on Friday.

A labor court found that hundreds of workers at a Volkswagen-run ranch were subjected to degrading work conditions, forced into debt bondage and were held under armed surveillance. Continue reading “Volkswagen’s Brazil unit ordered to pay $30 million for decades-old ‘slave labor’ case”

(Reuters) – Chrysler parent Stellantis is recalling 219,577 Ram ProMaster and Doge Journey vehicles in the U.S. due to an issue with the rear-view camera that could diminish the driver’s view behind the vehicle, the U.S. National Highway Traffic Safety Administration said on Saturday. Continue reading “Stellantis to recall over 219,000 US vehicles due to an issue with rear-view camera, NHTSA says”

Source : PTI | Equity markets this week would keenly track the upcoming GST Council meeting, macroeconomic data announcements and trading activity of foreign investors for further movement, analysts said.

Moreover, developments related to tariff negotiations, global market trends and auto sales data would also drive investors’ sentiment. Continue reading “Markets to track GST Council meet, GDP data, auto sales and global tariff talks this week”

Source : PTI | Around 10 lakh passenger vehicle units were sold in the country in the April-June quarter this fiscal, with Maharashtra leading the sales chart during the period, according to the data shared by industry body SIAM.

In the April-June period, 10.12 lakh units of passenger vehicles were sold in the country, with the western zone leading with sales at 3.21 lakh units. Continue reading “Maharashtra tops PV sales in June qtr; overall segment crosses 10-lakh mark: SIAM”

FRANKFURT, (Reuters) – Washington must swiftly honour an agreement with Brussels and cut tariffs on EU auto imports to 15% from 27.5% as of August 1 after the EU started the legislative process to remove duties on U.S. goods, Germany’s auto industry association VDA said.

“For the automotive industry, the current high additional burdens mean considerable financial losses. Therefore, time is of the essence in providing rapid relief for companies in this area,” VDA president Hildegard Mueller said on Friday. Continue reading “Washington must swiftly cut auto tariffs after EU paves way, German car lobby says”

(Reuters) – Ford Motor Company is recalling more than 105,000 Mustang cars in the U.S., citing improperly sealed panels that may let water seep in and cause external lights to fail, the National Highway Traffic Safety Administration said on Friday. Continue reading “Ford recalls over 105,000 US vehicles due to lighting failure, NHTSA says”

SAO PAULO, (Reuters) – Volkswagen’s Brazil unit has been ordered to pay 165 million reais ($30.44 million) in damages for subjecting workers on a farm to slavery-like conditions in the 1970s and 1980s, labor prosecutors said on Friday.

A labor court found that hundreds of workers at a Volkswagen-run ranch were subjected to degrading work conditions, forced into debt bondage and were held under armed surveillance. Continue reading “Volkswagen’s Brazil unit ordered to pay $30 million for decades-old ‘slave labor’ case”

Summary

• Indians worry new ethanol-blended fuel will hit car performance
• Government offering no fuel choice to consumers at most pumps
• India says E20 lowers carbon emissions, concerns unjustified
• Automakers try to assuage concerns of car owners, issue FAQs

NEW DELHI/LUCKNOW, (Reuters) – The Indian government is facing a backlash from motorists after the nationwide rollout of fuel blended with 20% ethanol, amid fears – stoked by a lack of clarity from some automakers – that it may affect the performance of particularly older vehicles. Continue reading “India’s push for ethanol-mixed fuel sparks driver backlash, leaves carmakers scrambling”

Summary

• Musk waited 11 days too long to reveal 5% Twitter stake
• Musk calls lawsuit wasteful, says he meant no harm
• SEC says Musk violated important disclosure rules

(Reuters) – Elon Musk has asked a federal judge to dismiss a U.S. Securities and Exchange Commission lawsuit claiming he waited too long to disclose his purchases of Twitter shares in 2022, accusing the regulator of overreaching in order to punish him for criticizing it. Continue reading “Musk accuses SEC of overreach, seeks to end lawsuit over Twitter stake”

Summary

• BYD’s Q2 profit drops 29.9% y/y, 1st fall in over 3 years
• Working capital deficit expands
• Outlook for 2025 sales target pessimistic, analyst says

BEIJING, (Reuters) – Chinese electric vehicle maker BYD’s quarterly profit fell for the first time in more than three years, as its expansion hit a speed bump amid a government campaign against price wars. Continue reading “BYD’s quarterly profit falls for first time in 3-1/2 years as price wars bite”