China says talks with EU on electric vehicle minimum price plan resumed

China says talks with EU on electric vehicle minimum price plan resumed

BEIJING, (Reuters) – China’s commerce ministry on Thursday said negotiations with the European Union over a minimum price plan for China-made electric vehicles have restarted and would continue into next week, while urging the bloc not to talk independently with manufacturers.

The 27-member bloc approved duties of up to 45.3% in October 2024 after the European Commission began investigating whether China’s EV makers were benefiting from unfair subsidies that could lead to a supply glut in Europe. Continue reading “China says talks with EU on electric vehicle minimum price plan resumed”

Flagging vehicular emission significant to Delhi’s air pollution; CAQM in SC seeks review of order

Flagging vehicular emission significant to Delhi’s air pollution; CAQM in SC seeks review of order

Source : PTI | Flagging vehicular pollution as one of the most significant contributing sectors to the generally poor air quality in Delhi-NCR, the Centre for Air Quality Management (CAQM) on Wednesday urged the Supreme Court to review its August 12 order that ordered no coercive steps be taken against the owners 10-year-old diesel and 15-year-old petrol vehicles in the national capital.

In an over 300-page affidavit filed in a plea seeking measures to curb air pollution, the CAQM said, “Vehicular pollution is one of the most significant contributing sectors to the generally poor air quality in Delhi-NCR (National Capital Region). Abatement of vehicular pollution thus has been one of the main focus areas of the Commission in its deliberations with the NCR State Governments and GNCTD.” Continue reading “Flagging vehicular emission significant to Delhi’s air pollution; CAQM in SC seeks review of order”

RTOs asked to ‘review’ vehicle inspectors’ work if less than 10% licence seekers fail driving test

RTOs asked to ‘review’ vehicle inspectors’ work if less than 10% licence seekers fail driving test

Source : PTI | The Maharashtra Transport Commissioner has issued a new set of Standard Operating Procedures (SOPs), in which Regional Transport Office (RTO) authorities have been asked to undertake a “review” of the motor vehicle inspectors’ work if less than 10 per cent of permanent licence seekers failed in the driving tests.

Several incumbent and former officers, however, raised question marks over the 10 per cent failure criteria, calling it the directive as “strange” and “unjustified”, and said the transport department should focus more on improving the quality of infrastructure required to conduct driving tests at the RTOs, and providing basic facilities. Continue reading “RTOs asked to ‘review’ vehicle inspectors’ work if less than 10% licence seekers fail driving test”

Exclusive: Mexico tariff hike to hit $1 billion India car exports despite automaker lobbying

Exclusive: Mexico tariff hike to hit $1 billion India car exports despite automaker lobbying

Summary

  • Mexico increased tariff on China, India, other nations
  • India’s auto group lobbied government to prevent hike, letter shows
  • Mexico is India’s third-largest car export market
  • Volkswagen, Hyundai, Nissan most impacted from tariff hike
  • India’s total exports to Mexico at around $5.3 bln

NEW DELHI, (Reuters) – Mexico’s decision to raise tariffs as high as 50% will affect $1 billion worth of shipments from major Indian car exporters, including Volkswagen and Hyundai, despite industry lobbying to persuade New Delhi to prevent such a move, according to two sources and a letter from an industry group reviewed by Reuters. Continue reading “Exclusive: Mexico tariff hike to hit $1 billion India car exports despite automaker lobbying”

India, Sweden join hands to drive decarbonisation in steel, cement sectors

India, Sweden join hands to drive decarbonisation in steel, cement sectors

Leading Indian companies like Tata Steel have joined hands with Swedish technology innovators to launch seven projects to drive decarbonisation in the domestic steel and cement sectors.

As India advances towards its 2070 net-zero target, reducing emissions from these hard-to-abate sectors will be essential to support the country’s infrastructure development, industrial growth, and long-term climate ambitions, a press statement has said. Continue reading “India, Sweden join hands to drive decarbonisation in steel, cement sectors”

Toll collection from EVs on key highways ‘illegal’; enforce waiver in 8 days: Maharashtra Speaker

Toll collection from EVs on key highways ‘illegal’; enforce waiver in 8 days: Maharashtra Speaker

Maharashtra assembly speaker Rahul Narwekar on Wednesday said the collection of toll from electric vehicles on Mumbai-Pune and Samruddhi expressways was “illegal”, and asked the government to implement the waiver system within eight days.

Responding to questions on the toll waiver for Electric Vehicles on the Mumbai-Pune Expressway, Nagpur-Mumbai Samruddhi Expressway and Atal Setu in Mumbai, Minister Dada Bhuse admitted that toll had been deducted from some EV users despite the waiver. Continue reading “Toll collection from EVs on key highways ‘illegal’; enforce waiver in 8 days: Maharashtra Speaker”

Scrapping vehicle too costly for truck owners, allow them to replace engines: DMK MP in RS

Scrapping vehicle too costly for truck owners, allow them to replace engines: DMK MP in RS

DMK leader K R N Rajeshkumar on Wednesday urged the government to allow commercial truck owners to replace old engines instead of scrapping entire vehicle under the vehicle scrappage policy.

Raising the issue during Zero Hour in the Rajya Sabha, Rajeshkumar acknowledged that the government’s goal of reducing pollution and improving road safety through the scrappage policy was “certainly an excellent work”. Continue reading “Scrapping vehicle too costly for truck owners, allow them to replace engines: DMK MP in RS”

India, EU committed for early conclusion of FTA negotiations: Goyal

India, EU committed for early conclusion of FTA negotiations: Goyal

Commerce and Industry Minister Piyush Goyal on Wednesday said negotiations for the India-EU free trade agreement are progressing, and a rough outline of the pact has been prepared.

He said both sides are committed to an early conclusion of the deal.

“Ek free trade agreement ki motee-motee roop rekha taiyaar ho gayee hai (a rough outline of a free trade agreement has been prepared),” Goyal told reporters here. Continue reading “India, EU committed for early conclusion of FTA negotiations: Goyal”

MSRTC to get 8,000 new buses by 2026: State transport minister Pratap Sarnaik

MSRTC to get 8,000 new buses by 2026: State transport minister Pratap Sarnaik

The Maharashtra State Road Transport Corporation (MSRTC) will acquire 8,000 new buses by 2026, of which the tender process for 3,000 vehicles has already been completed, state transport minister Pratap Sarnaik said on Wednesday.

The bus organisation will also get ₹2,893 crore through supplementary demands, and it will include the amount provisioned for staff salaries and clearing their pending dues, he said in the legislative council. Continue reading “MSRTC to get 8,000 new buses by 2026: State transport minister Pratap Sarnaik”

Exclusive: ByteDance, Alibaba keen to order Nvidia H200 chips after Trump green light, sources say

Exclusive: ByteDance, Alibaba keen to order Nvidia H200 chips after Trump green light, sources say

BEIJING/SINGAPORE, (Reuters) – ByteDance and Alibaba (9988.HK), have asked Nvidia (NVDA.O), about buying its powerful H200 AI chip after U.S. President Donald Trump said he would allow it to be exported to China, four people briefed on the matter told Reuters.
The Chinese companies are keen to place large orders for Nvidia’s second most powerful artificial intelligence chip, should Beijing give them the green light, two of the people said. However, they remain concerned about supply and are seeking clarity from Nvidia, one added. Continue reading “Exclusive: ByteDance, Alibaba keen to order Nvidia H200 chips after Trump green light, sources say”

Ford to use Renault tech, plants to battle cheap Chinese EVs in Europe

Ford to use Renault tech, plants to battle cheap Chinese EVs in Europe

PARIS, (Reuters) – Renault (RENA.PA), will jointly develop small, cheaper electric vehicles for Ford (F.N), for the European market and will also team up to produce commercial vans to cut costs and fend off rising competition from Chinese rivals, the companies said on Tuesday.
“We know we’re in a fight for our lives in our industry,” Ford CEO Jim Farley told reporters in Paris on Monday ahead of the announcement, when describing Ford’s response to the threat posed by cheaper Chinese competition. “There is no better example than here in Europe.” Continue reading “Ford to use Renault tech, plants to battle cheap Chinese EVs in Europe”

Combustion engine cars regain popularity worldwide, EY says

Combustion engine cars regain popularity worldwide, EY says

(Reuters) – Car buyers worldwide are returning to combustion engines as a result of policy reversals, trade wars and growing skepticism about EV infrastructure and costs, a report by professional services group EY showed on Tuesday.
In a push to ease sales of gasoline-powered cars, U.S. President Donald Trump last week proposed slashing fuel economy standards finalised by his predecessor, while the European Union might soon unveil a watered-down version of its 2035 combustion engine phase-out. Continue reading “Combustion engine cars regain popularity worldwide, EY says”

South Korea’s SK On, Ford Motor to end US battery joint venture

South Korea’s SK On, Ford Motor to end US battery joint venture

SEOUL, (Reuters) – South Korean battery maker SK On said on Thursday that it has decided to end its joint venture with Ford Motor (F.N), opens new tab for their joint battery factories in the U.S. as part of a business overhaul to focus on growth areas like energy storage systems.
The split marks a reset for one of the major U.S. electric vehicle battery partnerships, coming as slowing EV demand and the loss of U.S. subsidies push South Korean battery makers to reshape their U.S. strategies and accelerate expansion into the energy storage systems business. Continue reading “South Korea’s SK On, Ford Motor to end US battery joint venture”

Ford suppliers receive China’s new streamlined rare-earth licenses

Ford suppliers receive China’s new streamlined rare-earth licenses

(Reuters) – Chinese rare-earth magnet suppliers to U.S. automaker Ford Motor (F.N), opens new tab were included in the first batch of new export licenses issued by Beijing to boost shipments and reduce shortages of the vital components, the carmaker said on Wednesday.
The so-called general licenses were agreed after Presidents Xi Jinping and Donald Trump met in South Korea and will reportedly allow larger shipments with fewer hurdles under year-long permits for individual customers. Continue reading “Ford suppliers receive China’s new streamlined rare-earth licenses”

Inside Stellantis CEO’s ’emergency room’ rush to recapture market share

Inside Stellantis CEO’s ’emergency room’ rush to recapture market share

MILAN/DETROIT/PARIS, (Reuters) – New Stellantis CEO Antonio Filosa is prioritising vehicle sales growth over profits including resorting to lower-margin fleet sales and investing in affordable models to recapture market share in North America and Europe and get the world’s No. 4 automaker back on track, four sources familiar with the matter told Reuters.
Filosa, who took over in June, has launched what one source described as an “emergency room” operation to fix the mess left by his predecessor Carlos Tavares – who sought high margins through a combination of cost-cutting and price hikes that sparked a customer exodus. Continue reading “Inside Stellantis CEO’s ’emergency room’ rush to recapture market share”

Trump fuel economy rollback may make cars cheaper, but higher gas bills will absorb savings

Trump fuel economy rollback may make cars cheaper, but higher gas bills will absorb savings

Summary

  • Trump administration vehicle efficiency rule rollback would reduce upfront car costs by $930
  • Upfront car cost savings would evaporate quickly due to fuel, repair costs, analysts say

WASHINGTON, (Reuters) – The Trump administration’s proposal to roll back Biden-era vehicle fuel-efficiency standards may save automakers in the U.S. tens of billions of dollars and potentially lower upfront purchase costs for American car buyers. Continue reading “Trump fuel economy rollback may make cars cheaper, but higher gas bills will absorb savings”

Mexican lawmakers to debate China tariffs proposal, may soften blow on steel and auto parts

Mexican lawmakers to debate China tariffs proposal, may soften blow on steel and auto parts

Summary

  • Govt says proposal aims to strengthen domestic production and address trade imbalances
  • Tariffs may be softened on auto parts and steel products, sources say
  • Experts warn tariffs could disrupt supply chains, impact electronics and automotive industries

MEXICO CITY, (Reuters) – Mexican lawmakers are slated to begin debate this week on a bill to raise tariffs on goods from China and other Asian countries, three ruling party lawmakers told Reuters, amid fierce opposition from China and Mexican business groups. Continue reading “Mexican lawmakers to debate China tariffs proposal, may soften blow on steel and auto parts”

Combustion engine cars regain popularity worldwide, EY says

Combustion engine cars regain popularity worldwide, EY says

(Reuters) – Car buyers worldwide are returning to combustion engines as a result of policy reversals, trade wars and growing skepticism about EV infrastructure and costs, a report by professional services group EY showed on Tuesday.

In a push to ease sales of gasoline-powered cars, U.S. President Donald Trump last week proposed slashing fuel economy standards finalised by his predecessor, while the European Union might soon unveil a watered-down version of its 2035 combustion engine phase-out. Continue reading “Combustion engine cars regain popularity worldwide, EY says”

India free to buy oil from sources it considers beneficial: Kremlin

India free to buy oil from sources it considers beneficial: Kremlin

Source : PTI | India, a sovereign nation, is free to buy oil from sources it considers beneficial, the Kremlin said on Monday, while expressing confidence that New Delhi will stick to the policy of ensuring its economic interests.

On August 6, the US imposed additional 25 per cent tariffs on India for its purchase of oil and petroleum products from Russia. At the end of August, US tariffs on imports of Indian goods and services were increased to 50 per cent. Continue reading “India free to buy oil from sources it considers beneficial: Kremlin”

Carvana’s S&P 500 entry caps stunning rebound, shares jump

Carvana’s S&P 500 entry caps stunning rebound, shares jump

Summary

  • Carvana’s market value exceeds Ford and GM
  • Stock jumps over 8,000% since 2022 lows
  • Carvana’s S&P 500 inclusion expected to lift index-tracking fund purchases

(Reuters) – Carvana , the pioneering online used-car dealer known for its iconic car vending machines, is set to make a splashy entry into the S&P 500 index, capping a dramatic three-year turnaround that has seen its market value top legacy carmakers GM and Ford.

Shares of Carvana jumped 7% on Monday to hit a record high, extending their 10-day winning streak. Continue reading “Carvana’s S&P 500 entry caps stunning rebound, shares jump”

Only a few automakers to keep up AI push, Gartner says

Only a few automakers to keep up AI push, Gartner says

BERLIN, Dec 8 (Reuters) – Only a handful of automotive companies are likely to sustain ambitious artificial intelligence investment in the coming years, a study released on Monday showed, raising doubts over whether current industry “euphoria” will deliver lasting benefits.

By 2029, just 5% of automakers will maintain strong AI investment growth, down from over 95% today, technology research firm Gartner said in its report on 2026 predictions for the sector. Continue reading “Only a few automakers to keep up AI push, Gartner says”

China’s car sales extend decline in November in biggest drop in 10 months

China’s car sales extend decline in November in biggest drop in 10 months

Summary
  • Car sales -8.5% y/y in Nov vs -0.8% y/y in Oct
  • Boost from front-loading of govt subsidised purchases faded
  • Sales estimated to be 5% y/y in 2025
  • 2026 sales expected to be largely flat, CMBI says

BEIJING, (Reuters) – China’s annual car sales dropped 8.5% in November in a second straight monthly decline, for their biggest fall in 10 months, data showed on Monday, amid a waning scramble to buy vehicles before government subsidies dwindle at year-end. Continue reading “China’s car sales extend decline in November in biggest drop in 10 months”

Volkswagen to invest $186 billion through 2030, CEO says

Volkswagen to invest $186 billion through 2030, CEO says

FRANKFURT, (Reuters) – Volkswagen Group plans to invest 160 billion euros ($186 billion) through 2030, its CEO Oliver Blume said, reflecting belt-tightening as Europe’s top automaker faces a major crisis in its two key markets, China and the United States.

Total spending, updated annually as part of Volkswagen’s rolling five-year investment plan, compares with 165 billion euros for the 2025-2029 period and 180 billion for 2024-2028, with 2024 marking a peak. Continue reading “Volkswagen to invest $186 billion through 2030, CEO says”

New barrier-free highway toll collection system to be in place within a year: Gadkari

New barrier-free highway toll collection system to be in place within a year: Gadkari

Source : PTI | Union Minister Nitin Gadkari on Thursday said the current system of toll collection will come to an end within a year, replaced by an electronic system that will ensure a seamless experience for motorists on highways.

The new system has been rolled out in 10 places and will be extended across the country within a year, the Union minister of road transport and highways said in the Lok Sabha during Question Hour. Continue reading “New barrier-free highway toll collection system to be in place within a year: Gadkari”

US probes reports Waymo self-driving cars illegally passed school buses 19 times in Texas

US probes reports Waymo self-driving cars illegally passed school buses 19 times in Texas

WASHINGTON, Dec 4 (Reuters) – A U.S. agency said on Thursday it has asked Waymo to answer more questions after Texas officials said the Alphabet (GOOGL.O),  unit’s self-driving vehicles had illegally passed school buses 19 times in recorded incidents since the start of the school year.

The National Highway Traffic Safety Administration opened a probe in October after an incident in Georgia in which a Waymo car did not remain stationary when approaching a school bus with its red lights flashing and stop arm deployed. Continue reading “US probes reports Waymo self-driving cars illegally passed school buses 19 times in Texas”

Waymo to issue recall over self-driving vehicles driving past stopped school buses

Waymo to issue recall over self-driving vehicles driving past stopped school buses

WASHINGTON, (Reuters) – Alphabet (GOOGL.O), unit Waymo said Friday it would issue a recall for its self-driving vehicles after Texas officials said they illegally passed school buses at least 19 times since the start of the school year.

The National Highway Traffic Safety Administration, which opened a probe in October into Waymo vehicles near school buses, had asked the self-driving car company on Wednesday to answer questions about the Texas incidents by January 20. Continue reading “Waymo to issue recall over self-driving vehicles driving past stopped school buses”

Ford recalls nearly 109,000 vehicles, NHTSA says

Ford recalls nearly 109,000 vehicles, NHTSA says

(Reuters) – Ford (F.N), has recalled 108,762 vehicles in the U.S. over issues with an improperly secured liftgate hinge cover that could detach from the vehicles, the National Highway Traffic Safety Administration (NHTSA) said on Friday.

The recall covers certain 2020–2022 Escape and 2025 Escape models. Dealers will inspect and reinstall or replace any missing liftgate hinge covers as needed, free of charge, the regulator said. Continue reading “Ford recalls nearly 109,000 vehicles, NHTSA says”

Nitin Gadkari says using Toyota’s ‘Mirai’ car running on futuristic hydrogen fuel

Nitin Gadkari says using Toyota’s ‘Mirai’ car running on futuristic hydrogen fuel

Source : PTI | Amid air pollution in Delhi, Road Transport and Highways Minister Nitin Gadkari on Thursday said the central government is giving priority to alternative fuels, and he has started using Toyota’s ‘Mirai’ hydrogen fuel-cell car.

“The futuristic fuel is hydrogen.. I have also got a car, which is hydrogen, and the car is from Toyota … It gives the same comfort as Mercedes. The name of the car is Mirai, which is a Japanese word meaning future,” Gadkari said during Question Hour in the Lok Sabha. Continue reading “Nitin Gadkari says using Toyota’s ‘Mirai’ car running on futuristic hydrogen fuel”

Canada and Mexico should not be export hubs for China, says USTR

Canada and Mexico should not be export hubs for China, says USTR

WASHINGTON, (Reuters) – Canada and Mexico should not be used as export hubs for China, Vietnam, Indonesia and other countries, U.S. Trade Representative Jamieson Greer said on Thursday, saying that this was already happening in some cases in Mexico.

Greer told a conference in Washington that there were problems with the U.S.-Mexico-Canada trade agreement that he had helped negotiate during President Donald Trump’s first term, but some measures – including tariffs on foreign autos – were helping to correct issues. Continue reading “Canada and Mexico should not be export hubs for China, says USTR”

Tesla launches low-cost Model 3 variant in Europe
JSW MG Motor India Launches ‘Midnight Carnival’ Campaign Across the Country

JSW MG Motor India Launches ‘Midnight Carnival’ Campaign Across the Country

by WAF Think Tank 

JSW MG Motor India has rolled out an exciting new nationwide initiative — the Midnight Carnival, a first-of-its-kind late-night retail and customer engagement campaign designed to bring a fresh, energetic twist to car buying in India. The campaign aims to create a festive, immersive, and celebratory environment for customers across MG dealerships in the country.

The Midnight Carnival will see MG showrooms extend their operating hours late into the night, transforming into vibrant, experience-centric spaces where customers can explore the MG lineup in a relaxed, fun, and unconventional setting. With themed décor, curated offers, interactive activities, and personalised consultations, the initiative blends retail with entertainment — a move that reflects MG’s commitment to reinventing mobility experiences for modern India.

Continue reading “JSW MG Motor India Launches ‘Midnight Carnival’ Campaign Across the Country”

Škoda India Crosses 5 Lakh Units Milestone, Grows 90% YoY

Škoda India Crosses 5 Lakh Units Milestone, Grows 90% YoY

By WAF Auto News 

 

In a landmark achievement for the Czech automaker, Škoda Auto India has crossed the 5,00,000 cumulative sales milestone, marking one of its strongest growth phases in the country. The company reported a stunning 90% year-on-year growth, underscoring its accelerated momentum in one of the world’s most competitive auto markets.

Škoda’s record-breaking performance is driven by the overwhelming success of its India-focused product strategy, including the MQB-A0-IN platform that has spawned segment leaders like the Kushaq and Slavia. These models have consistently delivered strong monthly numbers, helping the brand expand its footprint beyond traditional metro markets.

Ashish Gupta, Brand Director, Škoda India, attributed the company’s success to its expanding dealer network, customer-focused ownership programs, and diverse product lineup.

Continue reading “Škoda India Crosses 5 Lakh Units Milestone, Grows 90% YoY”

EU reviews removing tariffs on VW EVs built in China

EU reviews removing tariffs on VW EVs built in China

BRUSSELS, (Reuters) – The European Commission has started a review of the anti-subsidy tariffs on Volkswagen’s (VOWG.DE), electric vehicles built in China, which could lead to them being replaced with a minimum price undertaking, the EU official journal said on Thursday.

The Commission, which set tariffs on China-built EVs in October 2024, said it had received an offer of an undertaking from VW Anhui and its review would assess whether it was acceptable and practical. Continue reading “EU reviews removing tariffs on VW EVs built in China”

Stellantis to recall 72,509 US vehicles over software glitch, NHTSA says

Stellantis to recall 72,509 US vehicles over software glitch, NHTSA says

(Reuters) – Chrysler parent Stellantis (STLAM.MI), opens new tab is recalling 72,509 Ram vehicles in the U.S. due to a software glitch in the instrument panel display that is causing it to go blank, the U.S. National Highway Traffic Safety Administration said citing a release submitted to the regulator on Monday. Continue reading “Stellantis to recall 72,509 US vehicles over software glitch, NHTSA says”

SIAM Concludes 11th Safe Mobility Inter-School Competition and Annual Teachers’ Meet on Road Safety Education

SIAM Concludes 11th Safe Mobility Inter-School Competition and Annual Teachers’ Meet on Road Safety Education

New Delhi : The Society of Indian Automobile Manufacturers (SIAM) today concluded the week-long 11th Safe Mobility Inter-School Road Safety Competition and its Annual Teachers’ Meet, reinforcing its commitment to promoting road safety awareness among students and educators. Continue reading “SIAM Concludes 11th Safe Mobility Inter-School Competition and Annual Teachers’ Meet on Road Safety Education”

Systems India secures mandate from e-mobility commercial vehicle maker for ADAS suite

Systems India secures mandate from e-mobility commercial vehicle maker for ADAS suite

Source : PTI | Auto components supplier ZF Commercial Vehicle Control Systems India has secured a mandate from an e-mobility commercial vehicle manufacturer to develop and calibrate an Advanced Driver Assistance Systems (ADAS) suite tailored to the upcoming Indian safety regulation, the company said on Wednesday.

The mandate includes key ADAS components and systems designed for coaches, heavy-duty trucks, and tractor-trailers, ensuring robust performance across diverse commercial vehicle platforms, the Indian subsidiary of the German parts supplier said. Continue reading “Systems India secures mandate from e-mobility commercial vehicle maker for ADAS suite”

Michelin, Forvia and Stellantis agree on Symbio restructuring plan

Michelin, Forvia and Stellantis agree on Symbio restructuring plan

(Reuters) – Michelin (MICP.PA), Forvia (FRVIA.PA), and Stellantis (STLAM.MI), reached an agreement over the restructuring and refinancing of hydrogen fuel cell firm Symbio, the jointly owned company said on Wednesday.

The future of the joint venture has been uncertain since carmaker Stellantis, which accounted for 80% of Symbio’s business volume, discontinued its hydrogen fuel cell technology programme in July. Continue reading “Michelin, Forvia and Stellantis agree on Symbio restructuring plan”

Aeva shares soar after deal with European automaker

Aeva shares soar after deal with European automaker

SAN FRANCISCO, (Reuters) – Shares of Aeva Technologies (AEVA.O), a Silicon Valley-based maker of lidar units that help autonomous vehicles sense their surroundings, rose more than 18% in midday trading on Wednesday after the company announced an exclusive deal to supply a European maker of passenger vehicles.

Aeva did not name the automaker, but analysts at Morgan Stanley and Canaccord Genuity last month said in research notes they believe the customer is Mercedes-Benz (MBGn.DE). Continue reading “Aeva shares soar after deal with European automaker”