Summary Porsche SE and partners plan investment platform for defence sector German auto firms explore defence amid rising European military spending Volkswagen’s top shareholder cuts guidance, reflecting auto sector weakness Defence unlikely to become as material for Porsche SE as auto holdings, analyst says (Reuters) – Volkswagen’s largest shareholder, holding firm Porsche SE said on Wednesday … [Read more...]

(Reuters) – Tata Motors-owned Jaguar Land Rover is recalling more than 121,500 vehicles in the United States due to cracked suspension knuckles in the front, the U.S. National Highway Traffic Safety Administration said on Wednesday. The recall includes Range Rover and Range Rover Sport vehicles, NHTSA said. Reporting by Ananya Palyekar in Bengaluru; Editing by Janane Venkatraman Source: … [Read more...]

Source : PTI | Maruti Suzuki India on Wednesday said it has inked an initial pact with Punjab National Bank to offer enhanced inventory funding solutions for its dealer network across the country. Maruti Suzuki and Punjab National Bank have signed a Memorandum of Understanding (MoU) to this effect. The collaboration aims to streamline and strengthen the financial ecosystem for the company’s … [Read more...]

Summary Tariff uncertainty affecting car shipments to US, shipper says New 15% tariff not implemented yet, leaving higher rate for now Carmakers held back shipments in early Q2, volumes rose later STOCKHOLM, (Reuters) – Europe’s car exporters are still struggling with uncertainty over U.S. tariffs despite last month’s trade deal, Wallenius Wilhelmsen , the operator of one of the world’s largest … [Read more...]

Summary Truckmakers caught in crossfire between US, California US ends antitrust probe into California clean truck plan California governor, regulator not available for comment (Reuters) – Four major truckmakers, including Daimler and Volvo, sued California to block the state from enforcing strict emissions standards that U.S. President Donald Trump declared void in June. Daimler, Volvo, Paccar … [Read more...]

Summary US opposes IMO proposal citing cost concerns for citizens and businesses US exited IMO talks on net-zero framework in April Major shipping firms committed to net zero by 2050 (Reuters) – The U.S. on Tuesday rejected the “Net-Zero Framework” proposal by the International Maritime Organization, which is aimed at reducing global greenhouse gas emissions from the international shipping … [Read more...]

(Reuters) – U.S. President Donald Trump on Tuesday criticized Goldman Sachs CEO David Solomon for the bank’s take on the potential impact of tariffs on the economy, as the president’s tiff with corporate America’s bigwigs widens. Trump had last week demanded that Intel’s CEO Lip-Bu Tan resign immediately in what was a rare presidential attempt to determine who leads a company, and the president … [Read more...]

WASHINGTON, (Reuters) – The U.S. Federal Trade Commission said on Tuesday it had resolved antitrust concerns arising from the “Clean Truck Partnership,” which involves major truck manufacturers. Under the Clean Truck Partnership, four manufacturers —Daimler Truck, International Motors, PACCAR, and Volvo Group— agreed in 2023 to abide by a series of California Air Resources Board regulations … [Read more...]

By WAF Think Tank  It is with deep respect and heartfelt gratitude that we at WAF, honour the life of Mr. Goh Cheng Liang, Owner Wuthelam Holdings, Nipsea Group & Nippon Paint From humble beginnings in a small rented room in Singapore, Mr. Goh built his first paint business from surplus barrels of military paint in 1949. Ten years later, his vision and determination led to a partnership … [Read more...]

(Reuters) – Piero Landolfi, Tesla’s director of service for the North American market has left the EV maker after nearly nine years, joining an exodus of executives from the company grappling with a drop in sales. Leaving Tesla was hard due to “the first principle thinking and the getting stuff done mentality” at the company, Landolfi said in a LinkedIn post on Sunday. Landolfi has now joined AI … [Read more...]

BERLIN, (Reuters) – The CEO of Mercedes-Benz criticised the European Union’s plan to ban CO2-emitting vehicles from 2035 in a media interview on Monday, joining a chorus of voices calling the target into question as it comes up for review this year. The ban, which supporters say is crucial to Europe’s green ambitions, is up for review in the second half of 2025, with critics saying it would … [Read more...]

Summary Ford aims to compete with cost-efficient Chinese EVs Automaker says new midsize pickup will target $30,000 price Company has scaled back EV goals and delayed launches DETROIT, (Reuters) – Ford plans to start rolling out its new family of affordable electric vehicles in 2027, including a midsize pickup truck with a target starting price of $30,000, the company said on Monday, as it … [Read more...]

(Reuters) – Money transfer company Western Union said on Sunday it will acquire Intermex, a U.S. firm that focuses on payment transfers to Latin America and the Caribbean, for about $500 million in cash. Western Union will pay $16 for each Intermex share, representing a premium of over 70% to Intermex’s last close of $9.28 on Friday. Western Union, among the world’s top providers of money transfer … [Read more...]

Source : PTI | In a sweeping enforcement action, the Uttar Pradesh State Transport Department on Friday said it has cancelled over 8,000 transport permits and suspended over 700 for violations ranging from expired validity to breach of statutory conditions. The move, aimed at tightening compliance and improving road safety, also saw three permits linked to fatal crashes — each involving four to … [Read more...]

Source : PTI | Truck rental charges on major routes stayed largely stable in July, reflecting a balanced demand-supply environment across the country, a report said on Friday. Freight rates remained unchanged between June and July for most key routes such as Delhi-Mumbai-Delhi, Delhi-Kolkata-Delhi, and Mumbai-Chennai-Mumbai. The Bengaluru-Mumbai-Bengaluru corridor recorded a slight uptick of 2.3 … [Read more...]

Source : PTI | Zypp Electric and Gurugram Traffic Police Launch “Green Hai Toh Zypp Hai” Campaign for Safer, Greener Mobility Gurugram (Haryana) [India], August 9: In a major step towards advancing electric vehicle adoption and promoting safer roads, Zypp Electric, India’s leading EV logistics platform, has partnered with the Traffic Police, Gurugram, under the “Green Hai Toh Zypp Hai” campaign. … [Read more...]

Source : PTI | New Delhi: The government is considering further easing the norms for setting up petrol pumps in the world’s fastest-growing fuel market, in light of the evolving energy security paradigm and commitment to decarbonisation, according to an official order. The government had in 2019 relaxed the norms for setting up petrol pumps, opening the door for non-oil companies to enter the fuel … [Read more...]

Source : PTI | Rare earth magnets shortage issue has had no impact on production of Tata Motors and JLR’s electric vehicles and is unlikely to affect in the foreseeable future, although there are a few challenges in the coming quarters, Tata Motors Group CFO P B Balaji said on Friday. In an earnings call, he said teams are working to sort out the problem and the company is continuing to de-risk … [Read more...]

Summary Bloomberg News says Dojo supercomputer team being disbanded Musk says doesn’t make sense to divide resources on AI chips Focused on Tesla AI5, AI6 and subsequent chips, Musk says (Reuters) – Tesla will streamline its AI chip research to focus on its development of inference chips used to run AI models and make real-time decisions, CEO Elon Musk said, after a media report he had ordered … [Read more...]

(Reuters) – The National Highway Traffic Safety Administration said it had opened an audit into 137,256 Kia America vehicles on Friday to assess the effectiveness of the automaker’s remedy for defective piston oil rings in some Seltos and Soul models. In February, Kia America launched a recall of the said Seltos and Soul vehicles, model year 2021-2023, over concerns that piston oil rings may have … [Read more...]