(Reuters) – A powerful U.S. national security panel on Wednesday submitted a recommendation to President Donald Trump on Nippon Steel’s fraught $14.9 billion bid for U.S. Steel a person familiar with the matter said, without providing further detail on its contents. The submission complies with an executive order signed by Trump last month, which tasked the Committee on Foreign Investment in the … [Read more...]

Source : PTI | The Ministry of Road Transport and Highways (MoRTH) has issued directives to expand oversight of regional officers on National Highway works implemented by state public works departments and road construction departments. In a circular, the highways ministry said critical lapses have occurred due to lack of due diligence in several projects pertaining to NH works implemented by … [Read more...]

Source : PTI | Automotive components maker Belrise Industries on Tuesday said it has garnered ₹645 crore from anchor investors a day ahead of its initial share-sale opening for public subscription. BlackRock, Capital Group, ICICI Prudential Mutual Fund (MF), HDFC MF, Nippon India MF, M&G (Prudential), Pinebridge, ValueQuest, and Bajaj Allianz Life are among the investors who participated in … [Read more...]

PARIS, (Reuters) – Mitsubishi Motors said on Monday it had decided not to proceed with an investment in Renault’s electric vehicle business Ampere, in a shift in the company’s EV strategy. Mitsubishi had previously announced an investment of up to 200 million euros ($225.08 million) in Ampere. It said, however, it would continue to develop new cars based on Renault models. “The company remains … [Read more...]

WASHINGTON, (Reuters) – The U.S. Transportation Department is expected to declare that fuel economy rules issued under then President Joe Biden exceeded the government’s legal authority by including electric vehicles in setting the rules, automaker officials said Monday. Transportation Secretary Sean Duffy said the department’s National Highway Traffic Safety Administration on Friday submitted its … [Read more...]

MEXICO CITY, (Reuters) – Mexican Economy Minister Marcelo Ebrard said on Tuesday that cars assembled in Mexico and exported to the United States will face an average tariff of 15%, not 25%, citing additional discounts that local products benefit from. “It’s a very big advantage compared to other countries that export to the United States. Of course, we would love it to be zero,” Ebrard said at an … [Read more...]

SEOUL, (Reuters) – South Korea’s government pledged on Wednesday more support measures for key export industries, including the biopharmaceutical and auto sectors, which are expected to be hit by U.S. President Donald Trump’s sweeping tariffs. The government will prepare new measures to support its biopharmaceutical companies, as soon as details of Trump’s tariffs on the sector become available, … [Read more...]

Summary Now sees EVs accounting for 20%, not 30%, of sales by 2030 Cuts planned investment in electrification and software by 30% To launch 13 next-generation hybrid models in the four years from 2027 TOKYO, (Reuters) – Honda Motor said on Tuesday that it was scaling back its investment in electric vehicles given slowing demand and would be focusing on hybrids, now far more in favour, with a … [Read more...]

Summary Tesla in talks to license FSD software to major automakers, Musk says Robotaxi deployment would scale up to about a thousand within a few months, Musk says xAI ramps up data center capacity with Nvidia chips in Memphis Tesla, xAI merger not out of question but would need shareholder ok, Musk says (Reuters) – Tesla is set to begin a test of its long-promised robotaxi service on schedule … [Read more...]

Summary Volkswagen considers sale amid Europe market challenges Conducting due diligence for potential sale Italdesign made 332 million euro revenues in 2024 MILAN, (Reuters) – Volkswagen is considering a plan to divest from its design and engineering unit Italdesign, union representatives told Reuters on Monday, as part of the German automaker’s efforts to overhaul its European operations. The … [Read more...]

SAN FRANCISCO, (Reuters) – Alphabet’s self-driving unit Waymo said on Monday it received approval from California to expand its robotaxi operations in more areas of the San Francisco Peninsula and further south, including San Jose. Waymo’s permission from California comes as Tesla gears up to roll out a paid robotaxi service in Austin, Texas, next month. CEO Elon Musk has said the electric vehicle … [Read more...]

DETROIT, (Reuters) – General Motors informed employees and dealers for its China export business on Thursday in China that it would stop shipping vehicles to China from the United States, the company said. The move comes as the United States and China continue discussions on tariffs and other trade issues. (This story has been corrected to clarify that the employees and dealers were informed on … [Read more...]

DETROIT, (Reuters) – Subaru of America is hiking prices on several models, the company said on Monday, the latest automaker to pass along cost increases to consumers as their expenses rise from the Trump administration’s tariffs. Subaru said in a statement that the increases were made in response to “current market conditions,” without citing tariffs or specific price actions. “The changes were … [Read more...]

Source : PTI | India continues to be the world’s largest market for electric three-wheelers for a second year in a row as sales rose nearly 20 per cent to reach about 7 lakh vehicles in 2024, the International Energy Agency (IEA) said in a report. In its Global EV Outlook 2025, the Paris-based energy watchdog said India continues to drive most growth in the global electric three-wheeler … [Read more...]

(Reuters) – Tesla blocked shareholders who own less than 3% of its shares from suing its directors or officers on behalf of the electric vehicle maker for breach of duties, according to a filing with the U.S. Securities and Exchange Commission on Friday. Three percent of Tesla’s shares amounts to about 97 million shares worth about $34 billion as of Friday’s close. That is far higher than the nine … [Read more...]

TOKYO, (Reuters) – Japan is considering a plan to offer subsidies for building charging stations for Tesla electric vehicles in tariff talks with the United States, broadcaster TBS reported on Saturday. The government currently provides subsidies for installing charging stations for EVs only for the charging standard “CHAdeMO”, which originated in Japan, but not for Tesla’s “Supercharger”, the … [Read more...]

BEIJING, (Reuters) – Half of China’s sales of heavy trucks could be electric vehicles by 2028, up from 10% in 2024, the chairman of battery maker CATL said on Sunday, according to a media report. The comments by Zeng Yuqun, made at a heavy-truck battery-swapping launch and reported by the Shanghai government-affiliated news site Jiemian, suggest further headwinds for fuel demand in the trucking … [Read more...]

Summary Potential closures of two plants in Japan, two sources say Plant closures in Mexico, India, Argentina, South Africa under consideration, one source says Nissan plans workforce reduction, plant consolidation amid restructuring TOKYO, (Reuters) – Nissan is considering plans to shut two car assembly plants in Japan and overseas factories, including in Mexico, sources said on Saturday, as … [Read more...]

BUDAPEST, (Reuters) – Chinese electric vehicle giant BYD expects to establish a European centre in Hungary, CEO and President Wang Chuanfu said on Thursday at a news conference with Hungarian Prime Minister Viktor Orban in Budapest. Wang said that the new European centre will create 2,000 jobs and have three functions. It will be a hub for sales and after-sales services, for testing and for … [Read more...]

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