Summary

• Genstar taps Evercore for OEConnection sale process
• Sale process expected to launch in Q4 2025
• Ford and GM hold minority stakes in OEConnection

(Reuters) – Genstar Capital is exploring a sale of OEConnection, which it aims to value the automotive software provider also backed by Ford and General Motors at as much as $5 billion, including debt, people familiar with the matter said. Continue reading “Exclusive: Genstar explores $5 billion sale of automotive software maker OEConnection, sources say”

Summary

• Nissan employs 560 at Europe regional office
• Negotiations expected to conclude in October
• Nissan has embarked on a sweeping restructuring

TOKYO, (Reuters) – Nissan Motor has begun negotiations with the union representing staff at its European regional office about changes that will include job losses, according to a company document and internal emails. Continue reading “Nissan begins talks with union to cut jobs at European regional office”

Summary

• Toyota’s operating profit forecast to drop 31% y/y, Honda’s by 36%
• Both companies continue to benefit from robust hybrid demand
• Investors eye guidance on pricing, wider strategy

TOKYO, (Reuters) – Toyota Motor and Honda Motor are expected to report weaker first-quarter earnings this week, as U.S. import tariffs and a stronger yen weigh on profits despite solid demand for hybrids in their biggest overseas markets. Continue reading “Toyota, Honda brace for profit falls as US tariffs, strong yen weigh”

Source : PTI | Global EV giant Tesla on Monday launched its first charging facility in the country weeks after entering the Indian market with an Experience Centre in the financial capital.

The Tesla charging station set up at One BKC in the Bandra-Kurla Complex, features four V4 supercharging stalls (DC charging) and four destination charging stalls (AC charging), the company said. Continue reading “Tesla launches first charging facility at Bandra-Kurla Complex in Mumbai”

Summary

• Household vehicle-registration data shows fewer Tesla owners are opting for another one
• The EV maker for years had the highest customer loyalty in the industry
• Tesla also loses ground in its ability to win over customers from other brands

LOS ANGELES, (Reuters) – Tesla for years had more repeat U.S. customers than any other major automotive brand but its loyalty has plunged since CEO Elon Musk endorsed President Donald Trump last summer, according to data from research firm S&P Global Mobility shared exclusively with Reuters. Continue reading “Exclusive: Tesla’s brand loyalty collapsed after Musk backed Trump, data shows”

Summary

• Tesla grants 96 million new shares to Musk
• Award vests only if Musk remains in a key executive role for two years
• New shares will be forfeited if court restores Musk’s voided 2018 pay package
• Stock rises 2% as analysts say it removes uncertainty over future

(Reuters) – Tesla has granted CEO Elon Musk shares worth about $29 billion in a new pay deal aimed at keeping the billionaire entrepreneur at the helm during a crucial pivot from its struggling core auto business to robotaxis and humanoid robots. Continue reading “Tesla approves share award worth $29 billion to CEO Elon Musk”

Summary

• Lyft partners with Baidu for European robotaxi deployment
• Firms aim to scale robotaxi fleet to thousands across Europe
• Lyft to manage customer services while Baidu supplies vehicles

(Reuters) – U.S. ride-hailing company Lyft said on Monday it will partner with China’s Baidu to deploy robotaxis across Europe starting next year, marking the Chinese search engine giant’s first foray into the European self-driven taxi sector. Continue reading “Lyft, China’s Baidu to launch robotaxi service in Europe next year”

TAIPEI, (Reuters) – Taiwan’s Foxconn said on Monday it had struck a deal to sell a former car factory at Lordstown, Ohio, for $375 million, including its machinery, but said it would continue to use the site to make a broader range of products aligned with its strategic priorities.

Foxconn, which makes data center products for Nvidia and assembles iPhones for Apple did not elaborate on products to be manufactured at the plant, but said the cloud and networking product business in particularly showed “significant growth”. Continue reading “Foxconn agrees $375 mln Lordstown plant sale to pivot towards data centres”

Summary

• Indian plant has initial capacity to build 50,000 vehicles annually
• Plant has received orders from Sri Lanka, Nepal, Mauritius
• Indian market to be key test for struggling automaker

THOOTHUKUDI, India, (Reuters) – Vietnamese electric vehicle maker VinFast began operations at a new plant in India, its first overseas factory, on Monday, and said it hopes to source more parts locally and that it had received orders from Sri Lanka, Nepal and Mauritius. Continue reading “VinFast in talks to boost India sourcing as its first overseas plant swings into gear”

Summary

• Genstar taps Evercore for OEConnection sale process
• Sale process expected to launch in Q4 2025
• Ford and GM hold minority stakes in OEConnection

(Reuters) – Genstar Capital is exploring a sale of OEConnection, which it aims to value the automotive software provider also backed by Ford and General Motors at as much as $5 billion, including debt, people familiar with the matter said. Continue reading “Exclusive: Genstar explores $5 billion sale of automotive software maker OEConnection, sources say”

(Reuters) – Harley-Davidson said on Monday Topgolf’s Arthur Starrs would succeed Jochen Zeitz as CEO, to help steer the storied motorcycle maker through U.S. tariffs and slowing demand for its cruiser bikes.

Starrs, currently the CEO of sports entertainment company Topgolf International, is taking the reins at Harley as the sector faces cost pressures on imported parts and components due to U.S. President Donald Trump’s broad tariffs. Continue reading “Harley-Davidson names Topgolf’s Arthur Starrs as CEO”

(Reuters) – Kia America has recalled about 201,149 Telluride vehicles in the U.S. as the door belt molding trim can delaminate and detach from the vehicle, the U.S. National Highway Traffic Safety Administration said on Saturday. Continue reading “Kia America recalls 201,149 US Telluride vehicles”

Source : PTI | Swedish luxury carmaker Volvo is currently not looking at availing of benefits under India’s scheme to promote passenger electric vehicles due to existing scale of the industry and will consider bringing plug-in hybrid vehicles in the country if the tax structure is conducive, a top official of its Indian arm said on Friday.

Volvo Car India, which launched the refreshed version of its best selling model XC60 in India at an introductory price of ₹71.9 lakh, believes that the entry of new players like Tesla is good for popularising electric vehicles. Continue reading “Currently not looking at getting benefits of EV promotion scheme: Volvo Car India MD”

Source : PTI | Mahindra & Mahindra plans to manage rare earth magnet supplies through alternative sourcing channels for the next nine months and will pursue ‘engineering efforts’ to address the raw material shortage situation amid growing product portfolio, according to a senior company executive.

The imposition of export restrictions by China on key rare earth magnets has resulted in supply chain bottlenecks, impacting the user industries, including the auto and electronics sectors. Continue reading “Mahindra to pursue engineering actions to address rare earth magnet shortage issue: CFO Amarjyoti Barua”

Summary

• Verdict could lead to more lawsuits, experts say
• One died, one injured in Model S crash in 2019
• Tesla to appeal, blames driver
• Tesla shares down 1.8% on Friday, 25% this year

(Reuters) – A Florida jury on Friday found Tesla liable to pay $243 million to victims of a 2019 fatal crash of an Autopilot-equipped Model S, a verdict that could encourage more legal action against Elon Musk’s electric vehicle company. Continue reading “Tesla ordered by Florida jury to pay $243 million in fatal Autopilot crash”

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Summary

• Uber says receipts contained factual, formatting errors
• Passengers’ lawyers reviewing Uber’s claims
• Uber faces thousands of passenger lawsuits

(Reuters) – Uber said it found more than 100 instances in which passengers who claimed its drivers sexually assaulted or harassed them offered bogus or doctored receipts to prove ridership, or did not explain their inability to provide receipts. Continue reading “Uber says some sexual assault accusers submitted fake receipts”

LONDON, (Reuters) – Jaguar Land Rover chief Adrian Mardell will step down after more than three decades at the company, having said he wanted to retire after three years as CEO, a spokesperson for the automaker said on Thursday.

His successor will be announced in due course, the spokesperson added. Continue reading “Jaguar Land Rover says CEO Mardell to step down”

Summary

• Royal Enfield owner faced rare earth magnet shortage in Q1
• Eicher replaced rare earths with alternate materials
• Eicher’s profit topped estimates on strong demand

(Reuters) – India’s Eicher Motors reported that a shortage of rare earth magnets disrupted its first-quarter production of performance motorcycles due to China’s export ban on the key component, prompting the company to switch to alternative materials. Continue reading “India’s Royal Enfield maker briefly hit by rare earth magnet shortage, secures alternative, executive says”

MILAN, (Reuters) – Luxury sports-car maker Ferrari said on Thursday its core earnings rose 6% in the second quarter, supported by strong pricing power and richer product offerings, while seeing a reduced impacts from new U.S. tariffs on EU-made products.

As part of a wider trade agreement, the United States and the European Union on Sunday agreed on a 15% tariff on imports of EU made products. Continue reading “Ferrari sees lower impact from U.S. tariffs, confirms guidance”

JSW Motors has entered a strategic partnership with KPIT Technologies to create a digital foundation for its upcoming portfolio of New Energy Vehicles (NEVs). The collaboration brings together JSW Motors’ manufacturing investment and KPIT’s deep expertise in software-defined vehicles (SDVs), battery systems and electric propulsion, which have been built over two decades and more than 2,000 global vehicle production programmes. Continue reading “JSW Motors & KPIT Technologies Form Strategic Partnership”

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”