Summary

• EQT AB offers to buy all Perpetual shares for A$22.07 apiece
• Perpetual says board is considering the revised proposal
• Perpetual has previously stared down bids from Regal Partners & Washington H Soul Pattinson

(Reuters) – Australia’s Perpetual said on Wednesday it received a sweetened A$2.5 billion ($1.75 billion) takeover proposal from Sweden’s EQT AB, less than two weeks after rejecting the private equity firm’s earlier offer, deeming it inadequate. Continue reading “EQT sweetens pursuit of Australia’s Perpetual with $1.75 billion bid”

Summary

• Deal includes an initial order for 250 TG600 turbogenerators
• Electra expects the EL9 Ultra Short to enter service in 2030
• Electra has 2,200 aircraft in backlog and ​63 operating customers, Allen told Reuters

(Reuters) – Electra said on Wednesday ‌it has signed a production agreement with France’s Safran Helicopter Engines for turbogenerators, as the hybrid-electric aircraft startup looks to advance certification efforts. Continue reading “Electra taps Safran for 250 turbogenerators to power hybrid-electric EL9”

Summary

• Global minimum tax raised €79 to 109 bln in first-year revenue
• First-year revenues below OECD’s long-run projections
• OECD finds little evidence of ​hit to jobs or investment

PARIS, (Reuters) – Countries applying a global minimum tax on ‌multinational companies saw corporate tax revenues rise without a corresponding loss of jobs or investment, the Organisation for Economic Co-operation and Development said on Wednesday. Continue reading “OECD says global minimum tax boosted revenue, not job losses”

Summary

• Fares drop as taxi drivers proliferate in sluggish economy
• Taxi trips jump 6% after start of Iran war from year earlier
• Half of China’s taxis are electric, and nearly 100% in major cities
• Fuel use drops as electric taxi use climbs

BEIJING, (Reuters) – China has an increasingly important ​buffer against oil price shocks: electric taxis.

Across Chinese cities, taxi usage and ridesharing are booming. In May, people took 3.05 billion trips, ‌with government data showing trips have grown 6% since the Iran war began at the end of February, versus March to May last year. Continue reading “China turns to electric taxis to soften Hormuz oil shock”

Source : PTI | Mumbai’s iconic Brihanmumbai Electric Supply and Transport (BEST) bus service, which began with just 24 buses on a single route in 1926, will complete 100 years on Wednesday.

The first service, connecting Afghan Church in Colaba and Crawford Market, began on July 15, 1926. Continue reading “BEST completes 100 years, continues to anchor Mumbai’s public transport network”

• Two new sales facilities, including a new Škoda Express Care service facility were inaugurated in Naroda and Maninagar, Ahmedabad
• The brand also opened a new Compact 3S facility in Himmatnagar
• Škoda Auto now has a total of 25 Customer Touchpoints across 16 cities in Gujarat
• Nationwide network grows to over 340 Touchpoints across 189 cities

Gujarat, July 15, 2026 – Škoda Auto India has inaugurated three new Customer Touchpoints in Ahmedabad and Himmatnagar, in Gujarat, further strengthening its network presence in the state and the western region of India. These new facilities, launched in partnership with PPS Motors Pvt. Ltd., include a new sales and service facility at Naroda, a new sales facility at Maninagar, and a new Compact 3S facility in Himmatnagar. Continue reading “Škoda Auto India expands footprint in Gujarat with three new Customer Touchpoints”

• Marks Group’s 149th Mahindra facility in India; a new Showroom spread across 3,600 sq ft at Camp strengthening PPS Motors’ presence to 8 Mahindra touchpoints in and around Pune

 Pune (Maharashtra), July 14, 2026: PPS Motors, part of one of India’s largest automobile retail conglomerates, today announced the inauguration of a new Mahindra touchpoint in Pune. This further strengthens its presence in Maharashtra reinforcing its commitment to deliver enhanced customer experiences and accessibility. The facility was inaugurated by Mahindra & Mahindra officials Aman Malik, National Sales Head, Gaurav Beohar, Zonal Sales Head (West), Prabhakar Jakkan, Regional Sales Manager, Pakshal Shah, Chief of Staff, PPS Group, along with other senior officials from both organizations. Continue reading “PPS Motors – Mahindra’s Largest Dealer in India – Expands its operations in Maharashtra; Inaugurates a new showroom at Camp, Pune”

Key Highlights from Q1 (April–June 2026)

a) Passenger vehicles

• Passenger Vehicles posted its highest ever sales of Q1, in FY 2026-27, with 1.27 million units, with 25.9% growth over Q1 of FY 2025-26.
• The share of Utility Vehicles (UVs) in the Passenger Vehicle segment has now grown to about 68%, with UVs posting a growth of 28.6%, followed by passenger Cars with 21.3% in Q1 of 2026-27, over Q1 of 2025-26.
• Passenger Vehicles saw their highest ever exports in Q1 of 2026-27 of 2.22 Lakh units registering a growth of 8.8% over Q1 of 2025-26. Export growth in this segment was driven by good demand from Latin America though there is an impact on exports to Middle East. Rising demand from Europe & Japan has also contributed to the overall uptick.

Continue reading “Indian Auto Industry Performance in June 2026 | SIAM”

(Reuters) – Trump administration policies that scaled back federal support for clean energy have led to the cancellation ​or delay of $83 billion in investment across hundreds of projects, according to a report ‌released on Tuesday by labor and environmental coalition BlueGreen Alliance.

The report was unveiled as labor leaders met with Senate Democrats on Tuesday to discuss the clean energy workforce. Continue reading “Trump cuts to clean energy linked to $83 billion in delayed or canceled projects”

Source : PTI | Over 10,000 trucks have gone off the road in Rajasthan as transporters have launched an indefinite strike against the implementation of new regulations, including the mandatory installation of Vehicle Location Tracking Devices (VLTDs), permit-related issues, fitness certificate renewals and e-detection challans.

New bookings have been suspended. Those in transit are not part of the strike and will join the strike after unloading goods. Continue reading “Rajasthan truckers’ strike takes over 10,000 vehicles off roads”

Source : PTI | New Delhi, State run fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) said they have intensified fuel quality inspections across their nationwide retail networks, as they sought to reassure consumers amid concerns over fuel quality circulating on social media.

IOC said it conducted nearly 10,000 surprise inspections and more than 8,500 quality tests across its retail outlets over the past week, deploying hundreds of special inspection teams to verify compliance with prescribed quality standards. Continue reading “IOC, BPCL, HPCL step up fuel quality checks amid social media concerns”

Source : PTI | Uttar Pradesh Chief Secretary S P Goyal on Tuesday directed all government departments and authorities to identify suitable land under their control for setting up public electric vehicle (EV) charging stations under the Centre’s PM e-Drive scheme.

The directions were issued during a meeting chaired by the chief secretary to review availability of land for establishment of public EV charging infrastructure across the state, according to an official statement. Continue reading “UP asks departments to identify land for public EV charging stations under PM e-Drive scheme”

Summary

• Exports and imports surge in June; broad trade driven by AI boom
• Imports hit 5-year high, customs data shows
• Global AI investment cushioning Chinese manufacturers
• China monthly auto exports top 1 million for the first time
• China due to release Q2 GDP data on Wednesday

BEIJING, (Reuters) – China’s exports surged in June, buoyed by orders for ​chips to fuel the global AI boom and automobiles, deepening producers’ reliance on overseas buyers as policymakers in the world’s No. 2 economy continue to grapple with ‌how to boost demand at home. Continue reading “China’s exports ride AI boom as domestic economy struggles”

Summary

• Lucid said it had sufficient liquidity to fund operations well into next year
• Lucid said AlixPartners not recommending bankruptcy
• The stock fell as much as 57% to $2.37 in afternoon trading

(Reuters) – Lucid Group on Tuesday denied as “completely false” a blog ‌post saying it was considering a potential take-private transaction or a Chapter 11 bankruptcy filing, after the electric-vehicle maker’s shares tumbled more than 50% in what would be their steepest one-day decline. Continue reading “Lucid rejects take-private, bankruptcy report after shares plunge”

New Delhi, 14 July 2026: Renault India, the wholly owned subsidiary of Renault Group, today announced the launch of the Renault Duster Adventure Edition, a special edition of its iconic SUV, with prices starting at ₹12.99 lakh (ex-showroom).

Inspired by one of the themes most closely associated with the Duster nameplate in India, the Adventure Edition celebrates the spirit that helped make Duster a defining SUV for a generation of Indian customers. Over the years, the vehicle earned a reputation for its ride and handling, and the ability to inspire journeys well beyond the daily commute, making “Adventure” a natural expression of the Duster legacy. Continue reading “Renault launches Duster Adventure Edition, honouring the spirit that made Duster an Icon”

• Tayron Life has been launched at an exciting price of INR 41.99 Lacs (ex-showroom)
• The Tayron Life offers immense space with 2,789 mm wheelbase and an 885-litres boot space that is expandable up to 2,090-litres
• Powered by a 2.0L TSI petrol engine paired with a 7-speed DSG 4MOTION producing 204 PS of power and 320 Nm of torque
• Volkswagen Tayron Life is the 2^nd locally assembled model launched this year in India, offering Level 2 ADAS with 14 distinct features
• The premium 5-Seater SUV features LED Plus headlamps, heated & ventilated ergoActive front seats, panoramic sunroof, IDA Digital Voice Assistant
• Tayron Life delivers a distinct mobility experience with a customizable 26.03cm Digital Cockpit and a 32.77cm infotainment screen and 8-speakers

Mumbai: Volkswagen India has introduced the new Tayron Life, a premium 5-seater SUV that brings together spaciousness, comfort and technology with the brand’s hallmark German engineering. The Tayron Life has been launched at INR 41.99 Lacs (ex-showroom). Developed for urban customers who value refined design, everyday space and practicality, the Tayron Life offers exceptional comfort and performance, while delivering a superlative mobility experience. Continue reading “Volkswagen India launches the Tayron Life, a spacious 5-seater SUV for premium lifestyle & mobility experiences”

• Škoda Auto’s Made-in-India compact SUV completes a 19,351 km drive from India to the Czech Republic
• Kylaq covers two continents, 13 countries and some of the world’s most diverse roads over 70 days
• Drive links the birthplace of the Kylaq in Pune with the birthplace of Škoda Auto in Mladá Boleslav, before culminating in Prague
• Journey spans altitudes of -154 metres to 5,364 metres and temperatures ranging from -12°C to 43°C
• Drive highlights the Kylaq’s engineering, durability and dependability across an extraordinary range of road, terrain and climatic conditions

Mumbai, July 2026 – Škoda Auto India has completed one of the longest overland drives ever undertaken by a Made-in-India passenger vehicle, with the Kylaq travelling 19,351 km from Pune to Prague over 70 days. Beginning at the Škoda Auto Volkswagen India Pvt. Ltd. manufacturing facility in Pune, the journey concluded in Prague, symbolically connecting the birth country of Škoda Auto India’s newest SUV with the home country of the global brand. Continue reading “Born in Pune. Celebrated in Prague: The Škoda Kylaq completes an extraordinary cross-continental drive”

Summary

• Bosch plans commercial production at the plant later this year
• Silicon carbide technology can support data centers, autos and defense
• Auto supplier targets up to $7.5 billion in U.S. investments through 2031

DETROIT, (Reuters) – German auto component and ​chip maker Bosch is beginning sample production at its first U.S. semiconductor factory, the company ‌said Monday, finalizing a $225 million agreement with the U.S. Commerce Department to strengthen domestic manufacturing of silicon carbide chips. Continue reading “Bosch begins sample production at its first US semiconductor plant”

Summary

• Shipments in North America up 38% to 445,000 units
• Enlarged Europe region saw 5% shipment growth to 762,000
• South America, Middle East & Africa both down 3%

MILAN, (Reuters) – Stellantis said ​on Monday preliminary second-quarter vehicle shipments rose 10% from a year earlier to ‌nearly 1.6 million units, driven by strong growth in North America, its most important market. Continue reading “Stellantis vehicle shipments rise 10% in the second quarter, led by North America”

WASHINGTON, (Reuters) – California Governor Gavin Newsom signed legislation on Monday creating state rebates of $3,500 on ​new electric vehicles for first-time buyers later this summer as U.S. sales ‌have slowed.

The $270 million rebate program for California residents is funded by the state budget and automakers. It applies to new vehicles with a suggested retail price of up to $50,000. It also includes a ​separate $1,750 rebate for used EVs costing up to $25,000. Continue reading “California offering $3,500 EV rebates to first-time buyers”

Summary

• BMW faces third straight year of sales decline in China
• Debut model in lineup revamp set to enter market in November
• Top investor says management ‘underestimated’ China market
• Newcomers NIO, Xiaomi race ahead with rapid product cycles

SHANGHAI/BERLIN, (Reuters) – BMW is betting on its long-awaited Neue Klasse electric cars to revive its fortunes in China after two years of declining sales. The problem for the German automaker is that ​China’s EV race may have already moved on without it. Continue reading “BMW races to catch up in a Chinese EV market that won’t slow down”

Source : PTI | Crude oil futures jumped ₹384 to ₹7,198 per barrel on Monday as renewed military confrontation between the US and Iran reignited fears of supply disruptions through the Strait of Hormuz.

On the Multi Commodity Exchange (MCX), crude futures for July delivery jumped by ₹384, or nearly 6 per cent, to ₹7,198 per barrel in a business turnover of 19,274 lots. Continue reading “Crude oil futures surge up to 6%, jump ₹384 amid US-Iran tensions”

Source : PTI | Nexon Geochem, a Hyderabad-based advanced materials company, on Monday said it has joined hands with Russia’s Giredmet to use its technology and research expertise to build integrated rare-earth processing and downstream facilities.

Nexon Geochem has signed a Memorandum of Understanding (MoU) with Giredmet, the State Research and Design Institute of Rare Metal Industry under Russia’s Rosatom State Corporation, to this effect, a company statement said. Continue reading “Nexon Geochem ties up with Russia’s Giredmet for rare-earth processing”

Source : PTI | Traffic management in Rajasthan’s capital Jaipur will soon shift from the conventional fixed-timer system to a fully AI-based mechanism, following the successful completion of a pilot project at Rambagh Circle, officials said on Monday.

They said the 39-day trial of the artificial intelligence (AI)-driven Intelligent Traffic Management System (ITMS) at Rambagh Circle achieved “100 per cent success”, prompting plans to expand the system across the capital city. Continue reading “Jaipur to shift toward fully AI-based Traffic management: Officials”

(Reuters) – Ford Motor said on Saturday it has reached a tentative agreement with Canadian ​auto union Unifor on a three-year ‌national labor contract.

The contract covers more than 5,000 unionized employees in Canada, the company said. Continue reading “Ford, Canada’s Unifor reach tentative deal on labor contract”

Source : PTI | The two-wheeler category presents a bigger challenge for the recently announced Delhi EV policy, which will ban the registration of conventional-engine bikes and scooters from April 2028, with electric penetration in the segment at just 7.3 per cent in Delhi in FY26, according to Crisil Ratings.

While the ‘April 2028 EV-only registration’ requirement provides a clear roadmap for the two-wheeler industry to accelerate investments in electric products, capacity and distribution, internal combustion engine (ICE) models are expected to remain relevant in the near term, Crisil Ratings Director Poonam Upadhyay told PTI. Continue reading “Two-wheelers present bigger challenge for Delhi EV policy: Crisil Ratings”

Source : PTI | The Delhi government plans to expand its ladies special bus service by adding around 50 buses, officials said on Saturday.

According to officials, the Delhi Transport Corporation (DTC) will run 25 ladies special buses, which will be student-centric U-special, and the remaining 25 will be for Outer Delhi areas. Continue reading “Delhi govt to add 50 ‘ladies special’ buses to expand women-only service”

Source : PTI | Japan’s Honda Motor Co is bullish on the long-term potential of the Indian two-wheeler market where rising personal mobility needs, more women in workforce and growing demand for premium products are expected to continue supporting industry growth, according to the top official of its Indian two-wheeler arm.

Honda Motorcycle and Scooter India (HMSI), the company’s two-wheeler arm in India, will bring new products aligning with the evolving customer needs and is gearing up fresh models to be launched in the second half of this year in order to tap festive season sales, its President and CEO, Tsutsumu Otani told PTI in an interview. Continue reading “Honda bullish on India two-wheeler market, plans new models in H2 FY27”

Source : PTI | Mandates under the newly announced electric vehicle policy should not be imposed, a transport union said in a letter written to LG TS Sandhu.

In the letter, Delhi NCR Transport Ekta Manch, a taxi and auto union, opposed the mandatory registration of new electric-only autos starting next year.

Continue reading “Delhi transport union opposes EV-only mandate, flags infrastructure gaps”

Source : PTI | India is estimated to be losing over 42 crore litres of petrol worth more than ₹4,500 crore every year due to low tyre pressure, one of the most neglected aspects of vehicle maintenance, according to a study by industry body ATMA.

A large number of passenger vehicles on Indian roads are being driven with tyre pressure below the manufacturer-recommended levels, resulting in substantial fuel wastage, higher vehicle operating costs and increased road safety risks, as per the study by Indian Tyre Technical Advisory Committee (ITTAC), the technical arm of Automotive Tyre Manufacturers’ Association (ATMA). Continue reading “Low tyre pressure costs India ₹4,500 crore in fuel loss annually: ATMA”

(Reuters) – Global demand for electric vehicles rose ​for a fourth straight ‌month in June, driven by strong growth in Europe as sales ​weakened in China and North ​America, data from consultancy Benchmark ⁠Mineral Intelligence showed on ​Friday.

Registrations of battery-electric and plug-in hybrid ​vehicles climbed 7% from a year earlier to 2 million in June, ​while first-half volumes were ​up 2%. Continue reading “Global EV demand rises again as Europe offsets China, U.S. weakness”

(Reuters) – BMW reported a 4.9% decline in global ​vehicle deliveries in the ‌second quarter on Friday, hit by a sharp drop ​in sales in China.

• The ​group sold 590,962 vehicles in ⁠the quarter
• In China, ​deliveries plunged 30.2% year-on-year in ​the second quarter
• “Despite global challenges, we were able to increase ​our sales in the ​USA and Europe,” board member Jochen ‌Goller ⁠said in a statement
• Second-quarter deliveries rose 11.9% in the U.S. and 7.6% ​in ​Europe excluding ⁠Germany
• Mercedes-Benz and Porsche AG on Wednesday ​reported declines in ​second-quarter ⁠deliveries of 8% and 16%, respectively, as intensifying competition ⁠in ​China continued ​to weigh on sales.

Continue reading “BMW deliveries slide in Q2, as sales in China drop nearly a third”

Summary

• Manufacturers welcome ruling on diesel vehicles’ emissions
• Claimants allege ‘defeat devices’ used to cheat tests
• Around 1.6 million claimants suing carmakers in UK

LONDON, (Reuters) – Some of the world’s ​biggest carmakers largely won the first stage of a major legal battle on Friday over claims ‌that their diesel vehicles were fitted with unlawful “defeat devices” that led to higher emissions. Continue reading “Carmakers broadly win first round in UK lawsuits over diesel emissions”

Summary

• Volkswagen posted strongest Q2 drop in China at 37%
• China car sales fell for a ninth straight month in June
• German carmakers under pressure to compete on tech

BERLIN, (Reuters) – German carmakers’ sales collapsed further in China during the second quarter, as a protracted ‌slowdown in the world’s biggest auto market cranked up the pressure on legacy brands in a bruising battle with local competitors. Continue reading “German automakers hit by sharp China sales drop in second quarter”

MOSCOW, (Reuters) – Oksana Yasinskaya’s sky-blue electric hatchback zipped past a long line of cars waiting for a filling station to reopen and ​pulled into an empty charging bay in southeast Moscow.

After plugging ‌in her car, Yasinskaya looked across the deserted forecourt. Signs on the pumps apologised that they were temporarily out of fuel, an increasingly familiar sight in many parts of ​Russia, where Ukrainian strikes on energy targets have squeezed supplies. Continue reading “Electric car drivers dodge Russia’s hours-long fuel queues”

Source : PTI | The Andhra Pradesh government will electrify the State Road Transport Corporation’s fleet of over 10,600 buses by 2029 under the Sustainable Electric Mobility Policy 4.0, a senior official said on Thursday.

APSRTC operates over 8,012 owned buses and nearly 2,650 hired buses, while the government has directed the corporation to procure only air-conditioned electric buses for all future services. Continue reading “Andhra Pradesh to electrify APSRTC fleet by 2029 under EV push”

Source : PTI | India’s electric vehicle (EV) components market is expected to expand eightfold to around ₹3.55 lakh crore over the next seven years, from ₹41,000 crore in 2025, according to an industry report.

This forecast comes from the newly released ‘India Electric Vehicle & Components Market Overview Report’ by India Energy Storage Alliance and Customized Energy Solutions (CES), released at the India Energy Storage Week 2026 event in New Delhi. Continue reading “India EV components market to grow 8x to ₹3.55 lakh crore by 2032: Report”

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• SWITCH EiV9 is designed to deliver best-in-class efficiency, superior passenger comfort, and a lower total cost of ownership for fleet operators.
• Built on a next-generation 9-metre electric bus platform, the EiV9 enables operators to modernize their fleets while achieving an optimal balance between operational profitability and sustainability goals.
• The company also unveiled its #SwitchKaro campaign, aimed at accelerating the adoption of electric mobility and encouraging a broader shift towards cleaner, more sustainable mass transportation.

Gandhinagar, July 10, 2026: SWITCH Mobility Ltd, a global leader in electric buses and light commercial vehicles and part of the Hinduja Group, has unveiled the all-new SWITCH EiV9 at Prawaas 5.0, India’s flagship multimodal transport exhibition. Purpose-built for city transit, employee transportation, and school mobility, the next-generation electric bus combines advanced technology, superior passenger comfort, and operational efficiency to set new benchmarks in sustainable mobility. Continue reading “SWITCH Mobility introduces the all-new 9-metre electric bus EiV9 at Prawaas 5.0”