Summary

• Shares on track for biggest decline since March 2020
• Profit warning comes while company without CEO
• Renault shares had been outperforming rivals more exposed to US

(Reuters) – Shares in Renault plunged as much as 18% on Wednesday after the French automaker surprised investors with a profit warning just a month after CEO Luca de Meo announced his departure.

The company said late on Tuesday that June sales volumes were weaker than expected and it was now aiming for a full-year operating profit margin of 6.5%, below a previous target of at least 7%. Continue reading “Renault shares tumble on profit warning as interim CEO named”

DETROIT, (Reuters) – General Motors said on Tuesday it will move production of the Cadillac Escalade to a Michigan assembly plant, while adding new capacity for gas-powered Chevrolet Silverado and GMC Sierra light-duty pickups at the same facility.

The production shifts are part of GM’s $4 billion investment plan announced in June at three U.S. facilities in Michigan, Kansas and Tennessee, a move that expands production of gasoline-powered trucks and SUVs. Continue reading “GM outlines $4 billion plan to expand production of gas trucks and SUVs”

Source : PTI | Wheels India Ltd, a manufacturer of steel wheels and cast iron-wheels has infused 50,000 euros into its newly formed entity and subsidiary WIL Europe GmbH, the company said on Sunday.

The subsidiary WIL Europe GmbH is in the process of formation and is yet to commence operations. It is being developed to expand and do business activities in Europe, Wheels India said. Continue reading “Wheels India infuses 50,000 euros in its subsidiary ‘WIL Europe GmbH’”

DETROIT, (Reuters) – General Motors is planning to produce lower-cost battery cells at its joint-venture plant with South Korea’s LG Energy Solution in Tennessee.

The Detroit automaker is rolling out production of lithium-iron-phosphate (LFP) batteries, a technology that is gaining popularity at other automakers in the U.S. including at cross-town rival Ford Motor. GM will begin converting battery cell lines at its Spring Hill, Tennessee facility later this year, and commercial production is expected to begin by late 2027, the company said Monday. Continue reading “GM to produce lower-cost battery cells at Tennessee plant”

STOCKHOLM (Reuters) – Sweden-based Volvo Cars is booking a impairment charge of 11.4 billion crowns ($1.2 billion) in the second quarter related to its ES90 and upcoming EX90 models, due to tariffs and launch delays, it said on Monday.

The group, which is controlled by China’s Geely Holding, said it is currently unable to sell its Volvo ES90, which is built in China, profitably in the United States due to import tariffs, while profit margins for the same model are also under pressure in Europe for the same reason. Continue reading “Volvo Cars books $1 billion impairment charge due to tariffs, launch delays”

Summary

• Asian automakers with strong hybrid lineups, better margins seen gaining US market share
• Most Asian automakers resisting sharp price rises despite tariff impacts
• Tariffs may drive industry consolidation, increase US investments
• Impact on earnings may not be priced in, analyst says

SEOUL/TOKYO, (Reuters) – Toyota and Hyundai Motor may have a beef with U.S. protectionism, but they have one thing in common with President Donald Trump: when it comes to global car markets, it’s America first for Asia’s legacy automakers. Continue reading “Despite tariffs, it’s still America first for Asia’s legacy automakers”

LONDON, (Reuters) – The British government will offer discounts worth up to 3,750 pounds ($5,037.00) to buyers of electric cars priced at 37,000 pounds or below, it said on Monday, under a new scheme that aims to better align consumer demand with net zero emissions targets.

The government will spend 650 million pounds on the discount scheme, which will be available from Wednesday to consumers once carmakers sign up for the scheme. Continue reading “Britain offers discounts on electric cars to boost demand”

Summary

• Ola Electric expects gross margins to reach 35%-40%
• Shares rise over 14% after results
• Rare earth-free motors to be deployed from December quarter

(Reuters) – India’s Ola Electric on Monday forecast improved gross margins for fiscal 2026 after posting a narrower sequential loss for the first quarter, helped by stronger sales of its newer, more cost-efficient scooter models.

Shares of the company, which listed in August last year, jumped over 14% after the results and were on track to snap a five-session losing streak. Continue reading “India’s Ola Electric forecasts margins improvement; shares rise”

Summary

• Shareholders to vote if Tesla can invest in xAI, Musk says
• Musk deepens Tesla-xAI ties, but does not support merger
• Tesla sets annual shareholder meeting for November 6

July 14 (Reuters) – Elon Musk ruled out a merger between Tesla and xAI but said he plans to hold a shareholder vote on investment in the artificial intelligence startup by the automaker, in the latest step to deepen integration across his business empire.

His comments followed a Wall Street Journal report on Saturday that SpaceX, Musk’s rocket firm, will invest $2 billion in xAI as part of a $5 billion funding round aimed at keeping pace with rivals in the capital-intensive AI race. Continue reading “Musk suggests Tesla investor vote on xAI investment, rules out merger”

(Reuters) – The U.S. National Highway Traffic Safety Administration said on Friday it had opened a recall query covering 27,816 of Sweden-based EV maker Polestar’s Polestar 2 vehicles over a loss of rear-view camera image.

A recall query is an investigation opened by safety regulators when a remedy to solve an issue appears inadequate. Continue reading “US safety regulator opens recall query into over 27,000 Polestar 2 vehicles”

SHANGHAI, (Reuters) – Chinese automaker Chery on Saturday denied assertions that it had improperly claimed government subsidies for environmentally friendly vehicles.

An audit by the Ministry of Industry and Information Technology disqualified declarations by Chery and BYD for a combined $53 million in government subsidies for thousands of vehicles sold in the five years to 2020, accounting for nearly 60% of such improper claims. Continue reading “China’s Chery denies improper subsidy declarations”

July 12 (Reuters) – Jaguar Land Rover North America is recalling 20,999 vehicles in the United States due to torn passenger airbags that may not adequately protect an occupant in a crash, increasing the risk of injury, the U.S. National Highway Traffic Safety Administration said on Saturday. Continue reading “Jaguar Land Rover North America recalls about 21,000 US vehicles over torn passenger airbags”

Source : PTI | Japan’s Ambassador to India Keiichi Ono and Japan’s Minister of Economic and Development Affairs Koyoko Hokugo met Gujarat Chief Minister Bhupendra Patel in Gandhinagar on Friday.

During the meeting, the Ambassador highlighted Japan’s intent to deepen ties with the state and appreciated Gujarat government’s support to over 350 Japanese companies operating here, said a government release. Continue reading “Japan eyes bigger role in Gujarat’s semiconductor, EV sectors; Envoy meets CM Patel”

Source : PTI | West Bengal is set to join India’s rare earth mining map with the Geological Survey of India (GSI) conducting advanced exploration in Purulia district, a senior official said on Friday.

Although the rare earth deposit in Purulia is relatively small, the development is significant as India looks to reduce dependence on imports of critical minerals essential for electric vehicles (EVs), electronics, and renewable energy technologies. Continue reading “West Bengal gears up for rare earth mining in Purulia”

(Reuters) – Tesla will open its first India showroom in Mumbai next week, having imported $1 million worth of cars and merchandise, marking its entry into the world’s third-largest car market despite CEO Elon Musk’s complaints about high import tariffs.

In an invitation to media late Thursday, the carmaker said the July 15 event was the “launch of Tesla in India through the opening of the Tesla experience centre at Bandra Kurla Complex,” located in the city’s leading commercial business district. Continue reading “Musk’s Tesla marks formal India entry with Mumbai launch event”

MUNICH, (Reuters) – BMW’s CEO said on Friday he was optimistic that the European Union and the United States would soon reach a “manageable” agreement on auto import tariffs, potentially including a mechanism to offset imports with exports.

Oliver Zipse’s comments come as Europe awaits a letter from the U.S. administration under Donald Trump that could outline the framework of a trade deal and clarify tariff levels on European automotive exports. Trump said on Thursday the EU could receive a letter on tariff rates by Friday. Continue reading “BMW CEO hopeful for ‘manageable’ deal on US auto import tariffs”

Summary

• GM’s Silao truck plant idled for several weeks
• Silao downtime affects top-selling Silverado, Sierra models
• GM says down weeks at factory are meant to optimize production

(Reuters) – General Motors is pausing production at a pickup-truck plant in Mexico for several weeks, crimping output of its top-selling vehicles, people familiar with the situation told Reuters, and the company confirmed the information when asked. Continue reading “Exclusive: GM pickup-truck plant in Mexico pauses output for several weeks”

BERLIN, (Reuters) – Ford has agreed to a job protection scheme at its Cologne plant covering over 10,000 workers, with voluntary redundancies planned in response to the sluggish uptake of electric cars, the company and German employee representatives said on Friday.

Ford has been undergoing a painful restructuring in Europe, with cuts in Cologne and the upcoming closure of its Saarlouis plant dealing a fresh blow to Germany’s prestige as a carmaking hub. Continue reading “Ford agrees voluntary redundancies for troubled e-car site in Cologne”

(Reuters) – The U.S. National Highway Traffic Safety Administration said on Friday it had opened a recall query covering 27,816 of Sweden-based EV maker Polestar’s Polestar 2 vehicles over a loss of rear-view camera image.

A recall query is an investigation opened by safety regulators when a remedy to solve an issue appears inadequate. Continue reading “US safety regulator opens recall query into over 27,000 Polestar 2 vehicles”

HONG KONG, (Reuters) – Japan’s Nissan Motor has raised $4.52 billion in U.S. dollar- and euro-denominated senior unsecured bonds, according to a term sheet reviewed by Reuters on Friday, with the proceeds intended to refinance existing debt.

The issuance comes about a week after Reuters reported that Nissan has asked some suppliers to allow it to delay payments to free up short-term funds, highlighting its scramble to boost cash. Continue reading “Nissan Motor raises $4.5 billion in bond sales, term sheet shows”

Summary

• Annual investor meet set for November 6
• Shareholder proposals deadline set for July 31
• Grok chatbot to be integrated to Tesla vehicles next week

(Reuters) – Tesla will hold its annual shareholder meeting on November 6, it said on Thursday, a day after a group of 27 investors urged the Elon Musk-led electric automaker to set a date, citing legal obligations.

The company, which held its last meeting in June 2024, has been grappling with a series of events such as Musk’s public feud with President Donald Trump, the end of EV tax credits and a sales slump due to aging vehicle lineup. Continue reading “Tesla to hold annual shareholder meeting in November as investor scrutiny mounts”

(Reuters) – Ford Motor is recalling 850,318 vehicles in the U.S. due to a potential low-pressure fuel pump failure, which could cause an engine stall, the U.S. National Highway Traffic Safety Administration said on Thursday.

A faulty fuel pump can reduce fuel flow from the tank to the engine, causing an engine stall and increasing the risk of a crash, NHTSA said. Continue reading “Ford recalls more than 850,000 vehicles in US over fuel pump defect”

(Reuters) – Electric vehicle maker Tesla inched closer to start its sales in India, as it said on Friday it would be opening its first showroom at the financial hub of Mumbai on July 15, dubbed as an “experience center”.

Reuters reported in March that the Elon Musk-led company had signed a lease deal to open its first showroom in Mumbai to start its sales in India. Continue reading “Tesla to open first India store on July 15 in Mumbai”

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(Reuters) – Grok AI will be available in Tesla vehicles next week “at the latest”, the EV maker’s CEO, Elon Musk, said in a post on X on Thursday.

Musk’s AI startup xAI launched Grok 4, its latest flagship AI model, on Wednesday. While Musk had earlier said Tesla vehicles would be equipped with Grok, the billionaire CEO had not shared a timeline.

Tesla did not immediately respond to a request for comment. Continue reading “Grok AI to be available in Tesla vehicles next week, Musk says”

(Reuters) – Polestar reported a surge in second-quarter sales on Thursday, bolstered by strong demand for its electric vehicles in its home market of Europe, even as it faces challenges in markets such as the U.S.

Shares of the company rose more than 5%.

Demand for Polestar’s EVs has remained resilient in Europe due to offers and discounts, while several other markets have been weighed by high interest rates, inflation and availability of more affordable hybrid or gas-powered options. Continue reading “Polestar’s quarterly EV sales jump as strength in Europe offsets US struggles”

By Swaraj Baggonkar, Financial Express

After cements, paints and ports, JSW Group has big plans for the automotive sector. Parth Jindal, MD, JSW Cement and JSW Paints, shares with Swaraj Baggonkar the details of the group’s plans, including the launch of a new electric car at Rs 10 lakh, besides plans to hike equity in JSW MG Motor India.

Will you offer more products in the mass market segment?

We are working on an electric vehicle (EV) which will be smaller than the Windsor. We hope we can bring in that model in the Rs 10-12 lakh price bracket. We will also bring in a larger SUV, which will be offered with three drivetrains – EV, hybrid and ICE (internal combustion engines). Continue reading “‘We will launch a Rs 10-lakh electric car soon’: Parth Jindal”

By Mobility Outlook

JSW MG Motor India has taken a bold step toward reshaping the premium automotive retail experience with the launch of MG SELECT, an exclusive new-age luxury brand concept. Marking the beginning of this initiative, the company today inaugurated its first MG SELECT Experience Centre in Thane, Maharashtra.

Anurag Mehrotra, Managing Director of JSW MG Motor India, stated, “Luxury consumption in India has grown exponentially in recent years. With MG SELECT, we aim to create a niche for luxury car buyers by redefining and elevating the car ownership journey. Our vision aligns with our dealer partners, and together we intend to set new benchmarks in offering technologically advanced products and exclusive experiences.” Continue reading “JSW MG Motor Launches First Experience Centre In Thane”

Source : PTI | Clean energy firm Gentari and Shell India have formed a strategic partnership to improve electric vehicle (EV) charging accessibility nationwide, according to a company announcement on Thursday.

The partnership aims to provide access to a collective network of over 450 EV charging points across India.

“Effective July 10, Shell Recharge charging points will be accessible through the Gentari Go app, and Gentari chargers will be available to Shell Recharge users, giving them access to a network of more than 450 chargers,” Gentari said in a statement. Continue reading “Gentari, Shell India forge EV charger roaming partnership in India”

TOKYO, (Reuters) – Nissan Motor has suspended U.S. production of three vehicle models for Canada amid mutual tariffs imposed by the U.S. and Canada on auto imports, the automaker said.

It has halted production of Pathfinder and Murano SUVs and Frontier pickup trucks, the Japanese automaker said in a statement late on Wednesday, without saying when the suspension went into effect or how long it expected it to stay in place. Continue reading “Nissan says it has halted US production of three models sold in Canada”

Summary

• Robotaxi success key for Tesla’s future valuation
• California imposes strict regulations on autonomous vehicle operations
• Tesla’s Austin test faced traffic, driving issues

SAN FRANCISCO, (Reuters) – Tesla will expand its robotaxi service to the San Francisco Bay Area “in a month or two”, depending on regulatory approvals, CEO Elon Musk said on Wednesday.

Tesla last month rolled out a test of the long-promised service in a limited area of Austin, Texas, with about a dozen vehicles, a select group of passengers and many restrictions, including a safety monitor in the front passenger seat. Continue reading “Tesla to expand robotaxis to San Francisco area within two months, Musk says”

BEIJING, (Reuters) – Chinese electric vehicle maker BYD on Wednesday promised to take responsibility for losses to cars with its God’s Eye assisted driving systems in smart parking scenarios in China.

BYD has achieved smart parking equivalent to level 4, meaning drivers can take their hands, eyes and minds off the driving task under certain conditions, with automakers held liable for accidents, it said in a statement. Continue reading “BYD makes safety pledge for cars with proprietary assisted driving in China”

(Reuters) – A group of 27 major Tesla shareholders urged the electric automaker’s board on Wednesday to set a date for its annual shareholder meeting this year, citing legal obligations and growing governance concerns.

Tesla is close to missing a legal deadline and has not announced this year’s meeting, the group consisting of U.S. state treasurers, pension funds and governance experts said in a letter. Continue reading “Tesla investors ask board to set date for overdue annual shareholder meeting”

FRANKFURT, (Reuters) – Porsche expects a 300 million euro ($351 million) hit to results as a consequence of absorbing U.S. import tariffs in April and May, the luxury sportscar manufacturer said in slides published after an investor call ahead of quarterly results.

The company had previously spoken only of a hit in low triple-digit million euros for the two months, without giving a firm number. Continue reading “Porsche expects $351 million tariff hit for April and May”

Summary

• EV sales expected to get a lift as tax-credit expiration nears
• Automakers offer incentives to boost EV sales before tax credit ends
• Tax credit set to disappear September 30

DETROIT, (Reuters) – Automakers are urging customers to snap up electric vehicles before a $7,500 U.S. tax credit goes away this fall.

Tesla’s homepage on Tuesday displayed a banner: “$7,500 Federal Tax Credit Ending. Take Delivery by September 30, 2025.” Continue reading “Automakers push EV sales as $7,500 US tax credit is set to end”

Source : PTI | Policy interventions can enable unlocking of USD 3.5 billion lithium ion recycling and production ecosystem in the country by 2030, a report by industry body India Cellular and Electronics Association (ICEA) and Accenture said on Wednesday.

The report estimates that without any policy intervention and measures to facilitate investments, the present lithium battery (LiB) recycling expansion plans have the potential to generate revenue in the range of USD 500-1,000 million between 2025 and 2030. Continue reading “Policy intervention can help unlock $3.5-bn li-ion battery recycling, production in India: Report”