WASHINGTON, (Reuters) – Mercedes-Benz (MBGn.DE), has reached a $149.6 million settlement with U.S. states to resolve a long-running investigation into allegations of diesel emissions cheating by the German automaker, New York Attorney General Letitia James said Monday.

The automaker said the deal effectively ends its legal issues in the United States over dieselgate – the emissions scandal first uncovered at Volkswagen in September 2015. Continue reading “Mercedes reaches $150 million settlement with US states over diesel scandal”

WASHINGTON, (Reuters) – The Federal Communications Commission said on Monday it was adding China’s DJI, Autel and all foreign-made drones and components to a list of companies determined to pose unacceptable risks to U.S. national security and would bar approvals of new types of drones for import or sale in the United States.

The addition to the FCC’s “Covered List” means that DJI, Autel and other foreign drone companies will not be able to obtain FCC approval to sell new models of drones or critical components in the United States, which is required. Continue reading “US bars approvals of new models of DJI, all other foreign drones”

(Reuters) – A top California regulator said it was looking into incidents in which robotaxis from Alphabet (GOOGL.O), unit Waymo stalled in parts of San Francisco on Saturday due to a widespread power outage that snarled traffic and gridlocked parts of the city.

Waymo paused service Saturday evening following a fire at a PG&E substation that knocked out power to roughly one-third of the city, affecting about 130,000 residents and forcing some businesses to close temporarily. Continue reading “California examines incidents of stalled Waymo robotaxis after San Francisco power outage”

(Reuters) – Uber (UBER.N), and Lyft (LYFT.O), are teaming up with Chinese tech company Baidu (9888.HK), to test self-driving taxis in the UK in 2026, making them the latest ride-hailing platforms to partner with self-driving vehicle firms.

Robotaxis are expected to be a safer mode of transport that can reduce operational costs by minimizing reliance on drivers and optimizing routes through real-time data. Continue reading “Driverless future gains momentum with global robotaxi deployments”

Source : PTI | Lucknow, To curb rising road accidents and fatalities in the state, Uttar Pradesh Chief Minister Yogi Adityanath on Saturday directed that a statewide “Road Safety Month” with a focus on the 4E model “Education, Enforcement, Engineering and Emergency Care” will be observed next year from January 1 to 31.

According to a press statement, chairing a high-level review meeting with senior officials, the chief minister said the campaign should not remain a formality but evolve into a people-centric movement. Continue reading “January to be observed as statewide ‘Road Safety Month’: UP CM Adityanath”

Source : PTI | Asserting that 90 percent of the Aravalli region will remain “protected”, the Centre on Sunday rejected claims that the new definition of the Aravalli range will allow large-scale mining and cited a Supreme Court-ordered freeze on new mining leases in the region.

It said a Supreme Court-approved framework provides for stronger protection of the mountain system and places a freeze on new mining leases until a comprehensive management plan is finalised. Continue reading “‘90% of Aravallis protected’, govt clarifies amid mining criticism”

Source : PTI | A day after the enforcement of BS-VI compliance and mandatory pollution-under-control certificates at Delhi’s border points and petrol pumps, awareness among commuters appeared to have increased on Friday, with many people voluntarily producing documents before refuelling.

Nischal Singhania, president of the Delhi Petrol Dealers’ Association, told PTI that queues at pollution-under-control (PUC) certification centres remained unchanged, while fuel sales had taken a hit in some border areas. Continue reading “‘No PUC, No fuel’ rule: Awareness improves; checks across Delhi pumps uneven”

Source : PTI | New Delhi: After years of forecasts predicting an imminent peak in oil demand amid a swift shift to renewables, oil and gas made a quiet but unmistakable comeback, with India emerging as a central driver of global consumption.

Major energy outlooks – from BP and McKinsey to the IEA – pushed peak oil into the 2030s and revised 2050 demand upward. And every forecaster said India will emerge as the epicentre of global demand growth, with its rise in appetite for energy outpacing that of China and Southeast Asia combined. Continue reading “Oil makes a comeback in 2025 amid transition hype, with India at the centre of action”

Source : PTI | After a record-breaking year, India’s automobile industry is entering 2026 on a relatively strong footing, with sales growth expected in the 6-8 per cent range. The outlook is underpinned by policy support, including GST rationalisation, easing monetary conditions, and income tax relief, which together are likely to improve affordability and sustain consumer demand across vehicle segments.

The momentum reflects more than cyclical recovery. Passenger vehicle volumes in 2025 rebounded sharply after a slow start, aided by stronger urban demand, stable rural incomes and improved financing availability. Continue reading “India auto growth seen holding in 2026 as policy support meets rising costs”

Source : PTI | Lucknow, To curb rising road accidents and fatalities in the state, Uttar Pradesh Chief Minister Yogi Adityanath on Saturday directed that a statewide “Road Safety Month” with a focus on the 4E model “Education, Enforcement, Engineering and Emergency Care” will be observed next year from January 1 to 31.

According to a press statement, chairing a high-level review meeting with senior officials, the chief minister said the campaign should not remain a formality but evolve into a people-centric movement. Continue reading “January to be observed as statewide ‘Road Safety Month’: UP CM Adityanath”

WILMINGTON, Delaware, (Reuters) – Elon Musk’s 2018 pay package from Tesla (TSLA.O), once worth $56 billion, was restored by the Delaware Supreme Court on Friday, nearly two years after a lower court struck down the compensation deal as “unfathomable.”

The ruling overturns a decision that had prompted a furious backlash from Musk and damaged Delaware’s business-friendly reputation. It assures Musk greater control over the company, which he has said is his main concern, even after shareholders recently approved a new pay package that could be worth $878 billion if Tesla meets certain targets. Continue reading “Musk wins appeal that restores 2018 Tesla pay deal now worth about $139 billion”

(Reuters) – Tesla (TSLA.O), CEO Elon Musk’s net worth surged to $749 billion late Friday after the Delaware Supreme Court reinstated Tesla stock options worth $139 billion that were voided last year, according to Forbes’ billionaires index.

Musk’s 2018 pay package, once worth $56 billion, was restored by the Delaware Supreme Court on Friday, two years after a lower court struck down the compensation deal as “unfathomable.” Continue reading “Elon Musk becomes first person worth $700 billion following pay package ruling”

BEIJING, (Reuters) – A revamp of China’s electricity market is boosting the economics of storing power just as international demand surges, sparking a boom for the Chinese energy storage manufacturers that already dominate globally.

Chinese firms are on track for a 75% jump this year in global shipments of lithium-ion battery cells for energy storage, according to one estimate. Continue reading “China’s power reforms, global data centre buildout usher in battery boom”

Source : PTI | The government will implement barrier-free toll collection at all 1,050 toll plazas across the country by 2026 and about 40 lakh annual FASTag passes have been issued in four months since August, Road Transport and Highways Minister Nitin Gadkari said on Thursday.

Answering queries during Question Hour in the Lok Sabha, Gadkari said annual FASTag passes will allow private cars to cross 200 toll plazas at ₹3,000 a year, or an average of ₹15 per toll. Continue reading “40 lakh annual FASTag passes issued since August, barrier-free toll collection by 2026: Gadkari”

Source : PTI | Days after a US-led ‘Pax Silica initiative’ excluded India from the rare earths alliance, JSW Group Chairman Sajjan Jindal on Friday called for increased focus on domestic exploration of minerals.

Jindal, who leads the $23 billion conglomerate having interests in steel and also electric vehicles, said India has sufficient reserves of rare earths. Continue reading “JSW’s Sajjan Jindal calls for push on domestic rare earth exploration”

DETROIT, (Reuters) – A key United Auto Workers strategist and architect of the union’s 2023 auto-factory strike is leaving the labor group, after a report by the federal monitor overseeing the UAW concluded that he was part of a campaign to improperly remove duties from another union leader.

Chris Brooks, chief of staff to UAW President Shawn Fain, will no longer be employed by the union as of December 31, according to a report released on Thursday by the monitor’s office. Continue reading “UAW president’s chief of staff to leave the union following federal monitor report”

BERLIN, (Reuters) – Volkswagen’s (VOWG.DE), Chief Executive Oliver Blume pledged continued cost cutting at Europe’s largest carmaker on Thursday, as the company seeks to remain competitive amid industry-wide challenges.

Speaking at the group’s two-day management meeting in Berlin, Blume identified leadership, focus and finances as three central priorities for the new year, a company spokesman said. Continue reading “VW management to continue cost cutting”

TOKYO, (Reuters) – Toyota Motor (7203.T), said on Friday that it aims to begin selling its U.S.-made Camry sedan, Highlander SUV and Tundra pickup truck in Japan starting next year as it hopes to help improve Japan―U.S. trade relations.

The world’s largest automaker was studying the possibility of reverse imports, it said in October, as Tokyo tries to placate President Donald Trump over its vast trade surplus with the United States. Continue reading “Toyota aims to begin selling 3 US-made models in Japan from 2026”

(Reuters) – Ford (F.N), is recalling 272,645 vehicles in the U.S. due to a loss of park function, causing the vehicle to roll away and increasing the risk of a crash, the U.S. National Highway Traffic Safety Administration said on Friday.

The Dearborn, Michigan-based company is recalling certain 2022-2026 F-150 Lightning BEV, 2024-2026 Mustang Mach-E, and 2025-2026 Maverick vehicles, as the integrated park module may fail to lock into the park position when the driver shifts into park, according to the NHTSA. Continue reading “Exclusive news, data and analytics for financial market professionals World Business Markets Sustainability Legal Commentary More My News”

(Reuters) – BMW (BMWG.DE), will recall 36,922 vehicles in the United States as over unintended steering wheel movement while the vehicle is stationary, the National Highway Traffic Safety Administration (NHTSA) said on Friday.

Reporting by Lewis Jackson, Nora Eckert and Christoph Steitz. Editing by Mike Colias, David Goodman and Nick Zieminski

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BERLIN, (Reuters) – Mercedes-Benz (MBGn.DE), said on Thursday it is on target to reduce costs by 5 billion euros ($5.9 billion) by the end of 2027, denying a media report that the goal for its efficiency programme had been brought forward by a year.

“The programme is going according to plan,” a spokesperson told Reuters. Continue reading “Mercedes savings drive proceeding as planned by end 2027, spokesperson says”

NEW DELHI, (Reuters) – India is proposing a preferential trade deal with Mexico in an effort to soften the impact of planned tariffs that threaten to affect about $2 billion worth of Indian exports, India’s trade secretary Rajesh Agrawal said on Monday.

Technical discussions on such a deal are underway following an online meeting between Agrawal and Mexico’s Vice Minister Luis Rosendo this month, Agrawal said, without giving details of India’s proposals. Continue reading “India proposes trade deal to counter sharp tariff hike by Mexico”

SEOUL, (Reuters) – Shares of LG Energy Solution (373220.KS), dropped as much as 7.6% in morning trade on Thursday after the company announced a day earlier that Ford Motor (F.N), had cancelled an electric vehicle (EV) battery supply deal.

The South Korean battery maker said in a regulatory filing that the termination followed a notice from Ford after the automaker decided to halt production of some EV models due to policy changes and shifts in the outlook for EV demand. Continue reading “Shares in South Korea’s LGES drop more than 7% after Ford cancels EV battery deal”

LONDON, (Reuters) – Brussels’ proposal to abandon a 2035 deadline for a total shift to fully electric driving allows Europe’s legacy carmakers more time to sell hybrids, but for the longer term, EVs are still the future, analysts and experts said.

On Tuesday, the European Commission published plans to abandon an effective 2035 ban on combustion engine cars, after lobbying from the region’s auto sector, helping them better compete against fast-moving Chinese rivals. Continue reading “Europe’s auto industry future may be electric even after EU climbdown”

The Delhi Traffic Police has challaned more than 24,000 vehicles and impounded 144 automobiles under its special enforcement drive ‘Operation Chakravyuh’, which was conducted across the city earlier this month, an official said on Monday.

The two-week operation was carried out by the traffic management division of Delhi Police from December 1 in coordination with the local police stations and PCR units, a senior police officer said. Continue reading “Over 24,000 vehicles challaned under Delhi’s Operation Chakravyuh in 14 days”

(Reuters) – Alphabet (GOOGL.O), unit Waymo is in talks with potential investors to raise money at a valuation of at least $100 billion, the Information reported on Tuesday, as competition intensifies in the nascent robotaxi market.

The size of the financing round could even possibly exceed $10 billion, and is expected to be arranged early next year, the Information reported, citing people familiar with the ride-hailing service provider’s plans. Continue reading “Waymo in talks to raise billions at over $100 billion valuation, the Information reports”

TOKYO, (Reuters) – Japan’s exports to the U.S. rebounded for the first time in eight months in November, in a sign of easing pain from U.S. tariffs, government data showed on Wednesday, bolstering the case for the central bank to continue raising interest rates.

“Automobile exports seem to be recovering faster than expected, as the reduced U.S. auto tariff rate gave Japanese automakers some price competitiveness, also helped by a weaker yen,” Daiwa Institute of Research economist Koki Akimoto said. Continue reading “Japan’s exports to US post first rebound in 8 months as tariff pain eases”

SAN FRANCISCO, (Reuters) – A California regulator has deferred an order for Tesla (TSLA.O), to suspend sales in its biggest U.S. market, giving the electric vehicle maker more time to address its accusation of misleading marketing and overstating self-driving capabilities.

The Department of Motor Vehicles (DMV) ordered the suspension of Tesla’s manufacturing and sales licenses for 30 days, adopting a judge’s proposals, but immediately put it on hold, DMV Director Steve Gordon told reporters on Tuesday. Continue reading “California regulator puts Tesla sales suspension order on hold”

WASHINGTON, (Reuters) – A group of 16 states and the District of Columbia sued the U.S. government on Tuesday after President Donald Trump’s administration suspended two grant programs for electric vehicle charging infrastructure.

California Attorney General Rob Bonta said Trump’s Department of Transportation has refused to approve any new funding under two electric vehicle charging infrastructure programs created by Congress as part of a $1 trillion infrastructure law in 2022. Continue reading “16 US states sue federal government after Trump suspends EV charging programs”

STRASBOURG, (Reuters) – The European Commission unveiled a plan on Tuesday to drop the EU’s effective ban on new combustion-engine cars from 2035 after pressure from the region’s auto sector, marking the bloc’s biggest retreat from its green policies in recent years.

The move, which still needs approval from EU governments and the European Parliament, would allow continued sales of some non-electric vehicles. Carmakers in regional industrial powerhouse Germany and in Italy had sought easing of the rules. Continue reading “EU drops 2035 combustion engine ban as global EV shift faces reset”

DETROIT, (Reuters) – Ford CEO Jim Farley walked through Ford’s Michigan design studio Monday afternoon, reflecting on how he was about to wipe out thousands of work hours on electric vehicles that he and his team had hoped would revolutionize the American auto industry.

Shortly after, his company announced it would kill several of those battery-powered models and take a $19.5 billion writedown on EV-related assets. It marked the industry’s biggest electric-vehicle retreat since U.S. President Donald Trump’s sweeping auto-policy changes iced already cooling EV demand. Continue reading “Ford’s EV retreat highlights industry dilemma: Build for the US or the world?”

(Reuters) – The U.S. Federal Trade Commission said on Monday that the agency and 21 states, along with the District of Columbia, have filed an amended complaint against ride-hailing app Uber (UBER.N), alleging it engaged in deceptive billing and cancellation practices.

The updated lawsuit, filed in the U.S. District Court for the Northern District of California, claims that Uber charged consumers for subscriptions without consent, failed to deliver promised benefits such as zero-dollar delivery fees and monthly savings, and made it difficult for users to cancel. Continue reading “US FTC, 21 states file amended complaint against Uber over subscription practices”

STRASBOURG, (Reuters) – The European Commission is set to backtrack on the EU’s planned ban on new combustion-engine cars from 2035 by allowing continued sales of some non-electric vehicles following intense pressure from Germany, Italy and Europe’s auto sector.
The EU executive appears to have yielded to the call from carmakers to be allowed to keep selling plug-in hybrids and range extenders that burn CO2-neutral biofuel or synthetic fuel as they struggle to compete against Tesla (TSLA.O), opens new tab and Chinese electric vehicles. Continue reading “EU to yield on combustion engines ban after automaker pressure”

(Reuters) – Elon Musk on Monday became the first person ever worth $600 billion, Forbes said, on the heels of reports that his SpaceX startup was likely to go public at a valuation of $800 billion.
Musk, who was the first to surpass $500 billion in net worth in October, owns an estimated 42% stake in SpaceX, which is preparing to go public next year, Reuters reported last week. Continue reading “Musk’s net worth hits $600 billion, Forbes says, as SpaceX preps for IPO”

(Reuters) – Tesla’s board of directors has earned more than $3 billion through stock awards that far exceeded the value of those given to peers at the biggest U.S. technology firms at the time they were paid, according to an analysis performed for Reuters by compensation and governance specialist Equilar.
The analysis found CEO Elon Musk’s brother Kimbal has earned nearly $1 billion since 2004, based on the appreciated value of stock options held or liquidated. Director Ira Ehrenpreis has collected $869 million since 2007. Board chair Robyn Denholm has made $650 million since 2014. Continue reading “Tesla board made $3 billion via stock awards that dwarfed tech peers”