ROME, (Reuters) – Stellantis Chairman John Elkann on Thursday denied there was any truth to rumours that the company is in merger talks with fellow European automaker Renault. “We are not discussing any merger,” Elkann said at the FT Future of the Car Summit in London, speaking in a panel discussion with Renault CEO Luca de Meo. The two companies in October already dismissed as rumour and … [Read more...]

(Reuters) – Some non-U.S. companies have said they are looking at expanding their presence or setting up shop in the United States to mitigate the impact of President Donald Trump’s sweeping tariffs. Below are some of the plans flagged by those companies. BARRY CALLEBAUT The chocolate maker is planning to increase its U.S.-based production to fend off effects of the “disruptive environment”, its … [Read more...]

WASHINGTON, (Reuters) – U.S. manufacturing production fell more than expected in April amid a sharp decline in motor vehicle output, and the sector could struggle to regain its footing in the second quarter because of tariffs. Factory output dropped 0.4% last month after an upwardly revised 0.4% gain in March, the Federal Reserve said on Thursday. Economists polled by Reuters had forecast … [Read more...]

Summary Tariff truce brings mixed feelings for manufacturers in China Producers of Halloween decorations scramble to meet deadlines Tariffs were imposed at ‘utmost worst time’ YIWU, China, (Reuters) – A tariff truce between the United States and China is helping kickstart the resumption of trade between the countries but for manufacturers of Halloween decorations in the eastern Chinese city of … [Read more...]

Source : PTI | India’s oil demand is expected to grow at the fastest pace among major economies and double the rate of rise in China in 2025 and 2026, oil cartel OPEC said in its latest global outlook. India’s oil demand is projected to rise from 5.55 million barrels a day in 2024 to 5.74 million bpd in 2025, up 3.39 per cent, helped by rising energy needs in the world’s fastest growing … [Read more...]

MILANO, (Reuters) – Automaker Stellantis said on Thursday that the production of Maserati sports cars will be moved from Turin’s Mirafiori plant to Modena by the end of the year. Modena is the hometown of Maserati, a historic Italian brand that has been struggling and whose business plan, including new model launches, is under review after being put on hold last year. Mirafiori is gearing up for … [Read more...]

Summary Q1 adj EBIT down 90% due to weak demand, prices Steel division swung to Q2 loss Warship division grew profits by 24% Shares down 9.8% FRANKFURT/DUESSELDORF, (Reuters) – Thyssenkrupp’s <TKAG.DE> operating profit plunged in the second quarter, hurt by what the German conglomerate said was high economic uncertainty among most of its customers and regions due to higher tariffs, notably … [Read more...]

Tata Motors has entered into a strategic partnership with Vertelo, a dedicated electric mobility solutions provider, to accelerate the adoption of electric commercial vehicles across the country. Through a Memorandum of Understanding (MoU) signed between the two companies, Vertelo will offer tailored leasing solutions to fleet operators, facilitating a smoother transition to green mobility. Rajesh … [Read more...]

Tata AutoComp Systems Ltd., a leading Indian automotive components manufacturer, and Katcon Global, a leader in exhaust systems, thermal insulation and advanced materials components, have announced a new joint venture in Mexico to manufacture advanced composites, with a focus on serving the North American market. The venture will specialize in lightweight applications for passenger and commercial … [Read more...]

(Reuters) – France’s Alstom is in talks about supplying high-speed double-decker trains for use through the Channel Tunnel, but no contract has been signed yet, the train maker said on Wednesday. Contacted by Reuters, a company spokesperson confirmed the talks but did not name any of the operators involved, citing the confidential nature of the discussions, and said it would not disclose the … [Read more...]

SAN FRANCISCO, (Reuters) – Aeva Technologies a firm founded by former Apple engineers that makes sensors used in factories and self-driving vehicles, on Wednesday said it had sold a 6% stake for $50 million to an unnamed strategic partner that will also handle some of its manufacturing in the future. Aeva’s lidar sensors help factory equipment and vehicles gain a three-dimensional view of their … [Read more...]

COLOGNE, (Reuters) – Workers at Ford’s two car plants in the German city of Cologne went on strike on Wednesday, protesting thousands of planned job cuts across the U.S. automaker’s European operations. The cuts at Ford reflect a broader shake-up in the car sector as companies like Volkswagen, Nissan and General Motors axe jobs in response to new competition from China, weak demand and the costly … [Read more...]

Summary Move comes after US-China trade war deescalation Situation could still change due to US unpredictability – source Tesla aims to start trial production of the two models in Oct SHANGHAI, (Reuters) – Tesla plans to start shipping components from China to the U.S. for the production of Cybercab and Semi trucks from the end of this month, after the U.S. and China reached a truce over … [Read more...]

NEW YORK, (Reuters) – Harley-Davidson on Wednesday beat back investor H Partners’ proposal to remove three directors, including the CEO, the company said in a statement. The victory for Harley comes roughly one month after H Partners, the second-largest investor in the motorcycle maker with a stake of 9.1%, stepped up its campaign to immediately push out Jochen Zeitz, who has run the company since … [Read more...]

Summary CFPB also ends requirements that Toyota pay tens of millions to car buyers Walmart had been accused of causing delivery drivers to pay “junk fees” Former official denounces ‘corporate pardons’ (Reuters) – The U.S. Consumer Financial Protection Bureau has canceled a 2023 settlement with the financing arm of Toyota over allegations the auto giant illegally steered thousands of consumers … [Read more...]

WASHINGTON, (Reuters) – Vermont Governor Phil Scott paused the state’s electric vehicle sales requirements for passenger cars and medium and heavy-duty trucks on Tuesday, amid broader concerns about the feasibility of zero-emission vehicle rules pioneered by California. Vermont is one of 11 states including New York, Maryland and Massachusetts that have adopted California’s zero-emission vehicle … [Read more...]

(Reuters) – Global sales of electric and plug-in hybrid vehicles rose 29% year-on-year in April, with stable growth in China and Europe despite trade tensions, while North America recorded the first fall since last September, data showed on Wednesday. European EV sales of legacy auto groups that are seeking to sell less polluting models to meet EU CO2 emission targets, outperformed those of … [Read more...]

Source : PTI | The India-UK free trade agreement augurs well to keep driving JLR’s performance in India as it would benefit future cars and enable customers to access global cars and global prices much faster, Tata Motors Group CFO PB Balaji said on Tuesday. On the other hand, further details and clarifications are needed to fully understand the impact on JLR after the US-UK trade deal that … [Read more...]

Summary US new-vehicle prices rose 2.5% in April, Cox Automotive reports Tariffs on imports from Mexico and Canada impact automaker costs Consumer demand rises as buyers anticipate tariff-related price hikes DETROIT, (Reuters) – U.S. new-vehicle prices surged in April, data released on Monday showed, a sign that the effects of President Donald Trump’s auto-tariff measures are rippling through … [Read more...]

Summary NHTSA probing crashes of Teslas in full self-driving mode Robotaxi sensors and reduced visibility cited as concerns NHTSA cites four crashes; in one a pedestrian was killed WASHINGTON, (Reuters) – U.S. auto safety investigators asked Tesla to answer questions on its plans to launch a paid robotaxi service in Austin, Texas, in June, in order to assess how the electric vehicle maker’s cars … [Read more...]