Summary

• Deal unwinds cross-shareholding as Japan eyes better governance
• Tender offer at 16,300 yen/share below Tuesday’s closing price
• Media reports had suggested deal value of around $42 billion

TOKYO, (Reuters) – Toyota Motor will take forklift-maker Toyota Industries (6201.T), opens new tab private in a $33 billion deal, the companies said on Tuesday, a landmark unwinding of cross-shareholding that is likely to strengthen the influence of the group’s founding Toyoda family. Continue reading “Toyota to take key supplier private in $33 billion deal”

(Reuters) – Ford is recalling 29,501 vehicles in the U.S. due to a detached control arm that can cause a loss of vehicle steering and control, increasing the risk of a crash, the U.S. National Highway Traffic Safety Administration said on Saturday.

The automaker is recalling certain 2024-2025 F-150 Lightning BEV vehicles, NHTSA said. Continue reading “Ford recalls more than 29,000 vehicles in the US, NHTSA says”

BEIJING, (Reuters) – Chinese auto dealers on Tuesday called on automakers to stop offloading too many cars on dealerships, as intense price wars are pressuring their cash flow, driving down their profitability and forcing some to shut.

The proposal came on the heels of an official call over the weekend for the auto industry to halt bruising price wars. Continue reading “China car dealers urge automakers to stop dumping inventory on them”

STOCKHOLM, (Reuters) – Tesla’s new car sales in Sweden fell 53.7% in May from a year earlier to 503 vehicles, registration data from Mobility Sweden showed on Monday. Continue reading “Tesla’s sales in Sweden fall 53.7% year-on-year in May”

TOKYO, (Reuters) – Toyota Industries will decide on Tuesday whether to accept a tender offer to take the company private, it said, after several media reported that it would accept a $42 billion offer from Toyota Motor and other group companies.

In a separate statement, Toyota Motor also said it would make a decision on the reported plan, but added that some media reports contained misleading information including that the total acquisition could exceed 6 trillion yen ($42 billion). Continue reading “Toyota Industries says it will discuss Toyota Group takeover bid on Tuesday”

Source : PTI | Petrol consumption spiked for the second month in a row in May as summer season travel pushed up demand but diesel sales remained tepid, according to provisional industry data.

Petrol consumption rose 8.77 per cent to 3.76 million tonnes in May, from 3.46 million tonnes a year back. Its demand was up 12.45 per cent, over consumption of 3.35 million tonnes in May 2023. Continue reading “Petrol sales climb 9% in May, diesel demand tepid”

Source : PTI  | The Indian Biogas Association on Sunday said it has signed an MoU with Indian Oil Corporation Ltd (IOCL) for development of bioenergy and bio-hydrogen sector.

This collaboration seeks to develop and expand the bio-energy sector on the basis of synergies between both organisations, a statement said. Continue reading “IBA collaborates with Indian Oil to develop bioenergy, bio-hydrogen sector”

Summary

• India’s new policy could cut import taxes for foreign carmakers
• Automakers will need to set up EV production facilities in India
• India says Mercedes-Benz, Volkswagen, Hyundai interested in new policy

NEW DELHI, (Reuters) – Tesla does not want to produce cars in India, a federal minister said on Monday as the government finalised its electric vehicle policy, with the EV giant’s plans currently focused on importing cars into the country. Continue reading “Tesla not keen on local production, minister says, as India finalises EV policy”

Summary

• Sales slump continues across much of Europe
• Norway offers bright spot with rollout of revamped Model Y
• Tesla slump comes as EV sales rise in Europe
• Shares drop in pre-market trade

LONDON, (Reuters) – Tesla’s car sales fell sharply in several European markets including Sweden and Portugal in May, a fifth consecutive monthly decline that has been blamed on CEO Elon Musk’s political activities and an outdated model lineup. Continue reading “Tesla’s European sales rout continues but new Model Y boosts Norway deliveries”

Summary

• Musk had already canceled the so-called Model 2 despite public denial, executives said
• Some Tesla executives expressed concern Musk was deceiving investors about a low-cost EV
• Tesla now plans more affordable, stripped-down versions of the Model 3 and Model Y

(Reuters) – Some senior Tesla executives were alarmed last year when Elon Musk denied a Reuters report that the company had killed a planned all-new $25,000 EV that investors had expected to drive explosive vehicle sales growth, according to people familiar with the matter.

“Reuters is lying,” Musk had posted on X, minutes after the story published on April 5, 2024, halting a 6% decline in Tesla’s stock. Tesla shares recovered some of the loss after Musk’s post, but the stock was down 3.6% at market close. Continue reading “Exclusive: Tesla executives questioned Musk after he denied killing $25,000 EV project, sources say”

Source By : Mobility Outlook | JSW MG Motor India, through its premium brand channel MG SELECT, will be launching the MG Cyberster—an all-electric luxury roadster that marks the brand’s return to its sporting roots with a futuristic twist.

A striking reinterpretation of the classic roadster, the Cyberster features a long sculpted bonnet, muscular rear haunches, and electric scissor doors, delivering dramatic flair and aerodynamic finesse. Its design pays homage to MG’s iconic lineage—most notably the MG B—while embracing a forward-looking aesthetic with a Kammback tail and sleek front fascia. Continue reading “MG Cyberster Redefines Roadster For Electric Age”

(Reuters) – Ford is recalling 29,501 vehicles in the U.S. due to a detached control arm that can cause a loss of vehicle steering and control, increasing the risk of a crash, the U.S. National Highway Traffic Safety Administration said on Saturday.

The automaker is recalling certain 2024-2025 F-150 Lightning BEV vehicles, NHTSA said. Continue reading “Ford recalls more than 29,000 vehicles in the US, NHTSA says”

Source : PTI | FASTags not properly working, extra money charged by toll plazas and the quality of roads being constructed were some of the issues that drew concern from the members of Parliament’s Public Accounts Committee, its chairperson and Congress MP K C Venugopal said Thursday.

The recent collapse of a part of a national highway in Kerala was also flagged at the meeting, and a high-level committee will be travelling to the southern state to look into the matter, he added.

Continue reading “PAC voices worries about FASTags and highway toll hikes”

Source : PTI | New Delhi: Delhi government will provide subsidies to people to promote electric vehicle adoption in Delhi in its new policy, Chief Minister Rekha Gupta said on Saturday.

Delivering a valedictory address at Aironomics, 2025 convention, she highlighted Delhi government’s different initiatives to combat air pollution.

Continue reading “Delhi govt to provide subsidies to promote e-vehicles, says CM Gupta”

Source : PTI | India needs to be watchful of any increased risk of trade diversion into the country due to changing global tariffs, top steel industry executives said reacting to the tariff-related announcement by the US.

Major steel players JSW Steel and AMNS India said there is a need to implement necessary trade measures proactively as every country is protecting their industry. Continue reading “‘India needs to be watchful of any trade diversion risk due to steel tariff challenges’”

Source : PTI | Industry stakeholders expect a rise in demand for construction equipment this year largely driven by ‘above normal’ rainfall outlook and government’s focus on infrastructure, industry body ICEMA President designate Deepak Shetty has said.

“The India Meteorological Department (IMD) has predicted ‘above normal’ rainfall in the country and I am very happy that due to this the rural market will be benefited. As most of our machines operate in the rural area, I am hopeful that we will be benefited,” Shetty said. Continue reading “Demand for construction equipment to pick up this year: ICEMA”

Summary

• Great Wall Motor chairman openly fretted about industry’s health
• BYD exec criticizes his comments as alarmist, defends BYD’s debt
• Chinese auto shares tumbled this week over price war worries

BEIJING, (Reuters) – Tensions between two of China’s largest automakers erupted into the open on Friday when a BYD executive slammed as alarmist comments by the chief of Great Wall Motor that called the industry “unhealthy”. Continue reading “China’s BYD and Great Wall Motor clash over China’s auto price war”

Summary

• Automakers warn of rare-earth magnet shortage
• China controls over 90% of global magnet processing capacity
• China’s export restrictions impact global auto production
• US officials frustrated with China’s slow export license issuance

WASHINGTON, (Reuters) – Global auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China – used in everything from windshield-wiper motors to anti-lock braking sensors – that could force the closure of car factories within weeks. Continue reading “Exclusive: Car makers warn China’s rare-earth curbs could halt production”

Summary

• Five early investors, including CATL and Intel Capital, have sent letters
• Say offer values Zeekr far lower than some peers despite better prospects
• Geely plans to merge Zeekr into Geely Auto unit

HONG KONG/SHANGHAI, (Reuters) – China’s Geely is undervaluing its premium electric car unit Zeekr with the $2.2 billion take-private offer it has made, five early investors in Zeekr have written to its board, according to three sources with direct knowledge of the matter. Continue reading “Exclusive: Zeekr investors criticise Geely’s $2.2 billion take-private bid as inadequate, say sources”

(Reuters) – Automakers in the United States, including Tesla must build entire vehicles including all their parts in the country instead of manufacturing parts abroad, President Donald Trump said on Friday.

The comments from Trump, at a press conference marking Tesla CEO Elon Musk’s last official day at the White House as a senior adviser, were in response to a question on tariffs hurting companies such as Tesla that import auto parts from other countries. Continue reading “Trump says automakers, Tesla must build cars, parts in US”

Source : PTI | Realty firm Kanakia Group has tied up with US-based Hines, Mitsubishi Estate and Sumitomo Corporation to develop a premium 15 lakh square feet office complex at BKC in Mumbai.

In a statement on Friday, Kanakia Group said it has entered into a joint venture with Hines, and two of Japan’s prominent conglomerates Mitsubishi Estate Co Ltd. (MEC) and Sumitomo Corporation for development of a premium office project in Bandra Kurla Complex (BKC).

Continue reading “Kanakia inks JV with Hines, Mitsubishi Estate, Sumitomo to develop office complex in Mumbai”

Source : PTI | FASTags not properly working, extra money charged by toll plazas and the quality of roads being constructed were some of the issues that drew concern from the members of Parliament’s Public Accounts Committee, its chairperson and Congress MP K C Venugopal said Thursday.

The recent collapse of a part of a national highway in Kerala was also flagged at the meeting, and a high-level committee will be travelling to the southern state to look into the matter, he added.

Continue reading “PAC voices worries about FASTags and highway toll hikes”

Summary

• Musk’s exit raises questions about Tesla’s sales slump and competition
• SpaceX faces setbacks with rocket program
• Musk’s focus shifts to robotaxi launch
• Tesla shares down 25% since December

(Reuters) – Elon Musk’s break with the Trump administration means investors will hope he refocuses on his sprawling empire as Tesla battles slumping sales and after SpaceX’s latest rocket launch fell short of expectations. Continue reading “Musk’s White House exit refocuses questions about Tesla, other businesses”

BEIJING, (Reuters) – Porsche struck a deal on Friday to set up its China research and development centre in Shanghai’s Jiading district, according to a local government statement.

Under the deal, Porsche models will be equipped with the first infotainment solution tailored for the Chinese market in 2026, the statement said. Continue reading “Porsche to set up R&D centre in Shanghai, local government says”

STOCKHOLM, (Reuters) – S&P on Friday lowered the outlook for its BB+ credit rating on Volvo Cars to “negative” from “stable”, saying U.S. tariffs and tougher competition in China were hurting the company’s growth prospects.

The Sweden-based automaker, which is majority-owned by China’s Geely, last month withdrew its earnings guidance and announced cost cuts, which will include laying off some 3,000 mostly white-collar workers amid a slowdown in demand. Continue reading “S&P lowers outlook on Volvo Cars rating citing US tariffs, competition in China”

Summary

• Global economy has performed better than expected
• Trump’s back-pedalling a reason for optimism
• Economists warn outlook remains uncertain

FRANKFURT, (Reuters) – For all the drama surrounding U.S. President Donald Trump’s trade tariffs, the world economy is holding up better than many had expected.

The latest data from the United States, China and, to a lesser extent, Europe are showing resilience and the global economy as a whole is still expected to grow modestly this year. Continue reading “Global economy’s ‘sugar rush’ defies trade drama – for now”

Summary

• Five early investors, including CATL and Intel Capital, have sent letters
• Say offer values Zeekr far lower than some peers despite better prospects
• Geely plans to merge Zeekr into Geely Auto unit

HONG KONG/SHANGHAI, (Reuters) – China’s Geely is undervaluing its premium electric car unit Zeekr with the $2.2 billion take-private offer it has made, five early investors in Zeekr have written to its board, according to three sources with direct knowledge of the matter. Continue reading “Exclusive: Zeekr investors criticise Geely’s $2.2 billion take-private bid as inadequate, say sources”

Summary

• Great Wall Motor chairman openly fretted about industry’s health
• BYD exec criticizes his comments as alarmist, defends BYD’s debt
• Chinese auto shares tumbled this week over price war worries

BEIJING, (Reuters) – Tensions between two of China’s largest automakers erupted into the open on Friday when a BYD executive slammed as alarmist comments by the chief of Great Wall Motor that called the industry “unhealthy”. Continue reading “China’s BYD and Great Wall Motor clash over China’s auto price war”

Summary

• Volkswagen in US tariff talks, flags more investments
• CEO Blume: talks are “fair” and “constructive”
• Blume hopes for quick deal

BERLIN/FRANKFURT, (Reuters) – Volkswagen wants to make more big investments in the United States, CEO Oliver Blume said in an interview with a German newspaper on Friday, adding that tariff talks with the U.S. government were “fair” and “constructive”. Continue reading “Volkswagen flags ‘massive’ US investments and says tariff talks constructive”

(Reuters) – Hyundai Motor is considering a 1% price increase on its entire U.S. lineup, looking to soften a hit from U.S. President Donald Trump’s tariffs, Bloomberg News reported on Thursday, citing people familiar with the matter.

The price hikes could come as soon as next week and would affect the suggested retail price of every model in its lineup, the report said, adding that they would apply to newly built vehicles, leaving cars that are already in dealer lots unaffected. Continue reading “Hyundai considering 1% price hike on US vehicles to counter tariff hit, Bloomberg News reports”

DETROIT/WASHINGTON, (Reuters) – Ford Executive Chair Bill Ford on Thursday sounded the alarm over the potential for the U.S. government to eliminate production tax credits that support the manufacturing of electric vehicle batteries using Chinese technology.

The disappearance of the credits would threaten Ford’s projected $3 billion investment in a Marshall, Michigan, plant that is 60% complete and slated to employ 1,700 workers. Continue reading “Ford head says GOP tax bill provision could ‘imperil’ battery factory”

Summary

• Trump tariff uncertainty sidelines importers
• Port of Los Angeles May volume down double-digits from last year
• Holiday shipping season off to soft start at Port of Los Angeles

LOS ANGELES, (Reuters) – Importer uncertainty ahead of the vital holiday ocean shipping season remains high, the executive director of the busiest port in the U.S. said on Thursday, as a court battle broke out over President Donald Trump’s trade tariffs. Continue reading “Court battle over Trump tariffs prolongs shipper uncertainty as holiday season nears”

Source : PTI | Ride-sharing platform Rapido has partnered with the Society for Advanced Clinical and Therapeutic Emergency Medicine (SACTEM) to provide basic life support training to over 1,000 bike, auto and cab captains across 16 cities in the country, the company said on Wednesday.

The initiative was flagged off on the World Emergency Medicine Day, which is observed globally on May 27 every year. Continue reading “Rapido to provide basic life support training to over 1,000 drivers”

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BEIJING, (Reuters) – Xiaomi tab rolled out its new sports utility vehicle in Beijing on Thursday, as the firm best known for smartphones and consumer electronics gears up to further challenge Tesla in the world’s largest auto market.

Xiaomi launched the YU7 at 13 of its Beijing showrooms and will start taking orders for the vehicle in July. It is keen to repeat the success of the sporty SU7 sedan, which launched last year and has outsold Tesla’s Model 3 on a monthly basis since December. Continue reading “Xiaomi’s Tesla Y rival YU7 hits showrooms in Beijing”

(Reuters) – Tesla shares rose more than 2% on Thursday after news that CEO Elon Musk was stepping away from the Trump administration, fueling hopes that he will sharpen focus on the automaker as it gears up for its hotly anticipated robotaxi debut.

Musk’s ties with U.S. President Donald Trump and his tilt toward right-wing politics in Europe had fueled waves of protests against Tesla in recent months, pushing some buyers away and rattling investors worried about brand damage. Continue reading “Musk’s Trump administration exit lifts Tesla shares on hopes of renewed focus”

The latest version of the iconic Golf GTI, makes its debut in India, the sportiest hot hatch delivering maximum thrill to Indian car enthusiasts

Summary Continue reading “A legend arrives: The power-packed, iconic Volkswagen Golf GTI makes its debut in India”

TOKYO, (Reuters) – Toyota said on Thursday its worldwide output and sales rose for a fourth consecutive month in April on strong demand for hybrid vehicles and rush buying in the United States over U.S. President Donald Trump’s import tariffs.

The world’s biggest automaker’s global sales for April increased 10% year-on-year to 876,864 vehicles, with U.S. sales climbing just as much, fuelled by strong demand, including rush-buying over the tariffs, according to Toyota. Continue reading “Toyota global output, sales rise for the fourth straight month in April”

SHANGHAI, (Reuters) – A large dealer of Chinese electric vehicle maker BYD’s, cars in the eastern province of Shandong has gone out of business with at least 20 of its stores found to be deserted or shut, government-owned media reported.

The Jinan Times, which is owned by the government of the provincial capital of Jinan, reported on Wednesday that Qiancheng Holdings, which ran BYD stores, had fallen into difficulties, affecting more than 1,000 consumers who were still owed warranty coverage and after-sales services. Continue reading “Big BYD dealer in eastern China goes out of business, local media reports”