Source : ANI | New Delhi [India], June 3 (ANI): As per an ongoing analysis of the damage inflicted upon by the Indian Air Force on Pakistan Air Force, it is emerging that 6 PAF fighter jets, two high value aircraft, over 10 UCAVs, one C-130 transport aircraft along with multiple cruise missiles were destroyed by Indian air-launched cruise missiles and surface-to-air missiles. Sources who were … [Read more...]

BERLIN, (Reuters) – Volkswagen’s restructuring of its Wolfsburg plant from 2027 to make way for EV-only production could result in a temporary four-day working week at the plant, works council chief Daniela Cavallo told workers on Tuesday. Cavallo, a central figure in negotiations with management last year over cost cuts, said unions had agreed minimum capacity utilisation for the transition … [Read more...]

Summary China has not issued enough licences to ensure production, lobby group says Mercedes-Benz says does not have experience of disruption yet Comments are strongest warning yet from the lobby group BERLIN, (Reuters) – China’s export restrictions on rare earths that are widely used by the auto industry could disrupt, or even halt, German car production, Germany’s VDA auto industry lobbying … [Read more...]

(Reuters) – U.S. auto sales for Ford Motor and South Korea’s Hyundai Motor rose in May, the companies reported on Tuesday, as concerns over potential tariff-related price hikes prompted buyers to act fast on their purchases of cars and SUVs. U.S. President Donald Trump’s tariff policies have fueled uncertainty across the auto industry, driving up supply costs, pressuring margins and pushing some … [Read more...]

Summary South Korea’s Kia reported theft case at India factory Police allege two former Kia workers involved, document shows Engines diverted for years using fake documentation, probe finds Kia says it is reinforcing stringent monitoring systems NEW DELHI, (Reuters) – Two former Kia India workers are under investigation over accusations that they colluded with scrap dealers to steal 1,008 … [Read more...]

BEIJING, (Reuters) – China’s Xiaomi founder and CEO Lei Jun said on Tuesday that he expected the company’s auto business to turn profitable in the second half of the year, according to a company spokesperson. Xiaomi’s loss from its smart electric vehicles, AI and other new projects amounted to 0.5 billion yuan ($69.5 million) in the quarter ended March 31, with its EV business revenue reaching … [Read more...]

BEIJING, (Reuters) – Tesla Model 3 and Model Y vehicles entered the list of 124 electric vehicle and hybrid models in a Chinese government-backed campaign to promote sales in rural areas, the industry ministry statement on Tuesday. BYD best-selling cars that made the list of 99 such cars last year largely remain, while Tesla models, absent in the annual campaign held at least since 2020, made … [Read more...]

BERLIN, (Reuters) – Volkswagen’s plan to cut 35,000 jobs in Germany by 2030 is on track, with over 20,000 workers agreeing to end their contracts early, its human resources chief Gunnar Kilian told a works council meeting at the carmaker’s Wolfsburg headquarters on Tuesday. Reporting by Victoria Waldersee, Editing by Friederike Heine Source: worldautoforum.com … [Read more...]

Summary China export curbs threaten world auto, electronics production EU aides seek talks to speed Beijing license approvals – source Japanese delegation visits in June for similar purpose – source BEIJING/NEW DELHI, (Reuters) – Diplomats, automakers and other executives from India, Japan and Europe were urgently seeking meetings with Beijing officials to push for faster approval of rare earth … [Read more...]

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 … [Read more...]

(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. Reporting by Anusha Shah in Bengaluru; Editing by Chizu … [Read more...]

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. Conditions facing car dealers have become … [Read more...]

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. Reporting by Anna Ringstrom, editing by Terje Solsvik Source: worldautoforum.com … [Read more...]

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 … [Read more...]

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. April too had … [Read more...]

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. In this association, IOCL and IBA will create a knowledge centre for backing … [Read more...]

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 … [Read more...]

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 … [Read more...]

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 … [Read more...]

JSW MG Motor India on Sunday reported a 40 per cent year-on-year increase in vehicles dispatches to dealers at 6,304 units. The company’s wholesales were at 4,510 units in May 2024. SAIC Motor, with a presence in over 100 countries, and JSW Group formed a joint venture — JSW MG Motor India Pvt Ltd, in 2023. Source: worldautoforum.com … [Read more...]