Summary Volvo to cut costs by 18 billion crowns, restructure US operations Withdraws financial guidance for 2025 and 2026 First-quarter profit drops 60% to 1.9 billion crowns Shares fall 10% New CEO Samuelsson plans to leverage Geely for cost synergies STOCKHOLM, (Reuters) – Volvo Cars announced 18 billion Swedish crowns ($1.87 billion) in cost cuts and a restructuring of its U.S. operations on … [Read more...]

WASHINGTON, (Reuters) – GM is recalling 721,000 SUVs and trucks worldwide due to engine issues that could lead to a loss of power and boost the risk of a crash, the company announced on Tuesday. The Detroit automaker is recalling 2021 through 2024 model-year Cadillac Escalade and Escalade ESV, Chevrolet Silverado 1500, Suburban, and Tahoe, GMC Sierra 1500, Yukon, and Yukon XL vehicles with 6.2L V8 … [Read more...]

Summary Trump administration touts deal to aid US auto manufacturers Duties to be cut on foreign parts, but not those from China Auto makers would receive credits on value of vehicles assembled in US Auto companies had appealed to Trump for tariff relief WASHINGTON, (Reuters) – U.S. President Donald Trump on Tuesday will soften the blow of his auto tariffs through an executive order mixing … [Read more...]

DUESSELDORF, Germany, (Reuters) – DHL Express, a division of Germany’s Deutsche Post will resume global business-to-consumer shipments worth over $800 to individuals in the United States after a “constructive dialogue” with U.S. authorities, DHL said on Monday. DHL blamed the halt it implemented on April 21 on new U.S. customs rules which require formal entry processing on all shipments worth over … [Read more...]

Summary California rules would require 80% EVs in 2030 Automakers warn they could soon stop shipping some vehicles to states with rules California requires 35% EVs for 2026 model year WASHINGTON, (Reuters) – Major automakers want Congress to bar California’s landmark plan to end the sale of gasoline-only vehicles by 2035 that has been adopted by 11 other states, warning the rules could begin … [Read more...]

Summary Q1 profit margin falls to 8.6% from 14.2% Porsche slashes margin target to 6.5-8.5% range Sales now expected to reach 37-38 billion euros Porsche to release Q1 results later on Tuesday Shares down 6% in early Frankfurt trade FRANKFURT, (Reuters) – Porsche’s margins plunged in the first quarter, it said on Tuesday, forcing the sportscar maker to cut its 2025 outlook in the wake of … [Read more...]

(Reuters) – Tesla in an update on Semi, said that the first units of the electric trucks will be on the production line by the end of 2025 at its Nevada gigafactory campus. Dan Priestley, who leads the Semi program at Tesla, said in a video posted to YouTube on Monday, that the factory has an annual capacity of 50,000 units, adding that the company will prepare for high volume production over the … [Read more...]

WASHINGTON, (Reuters) – CEOs and senior executives from Nvidia, Johnson & Johnson, Hyundai Motor, Toyota Motor, and SoftBank Group are among the more than two-dozen business leaders slated to visit the White House on Wednesday for an event highlighting U.S. investments, officials told Reuters. President Donald Trump plans to promote a broad range of investments in the United States in defense, … [Read more...]

(Reuters) – The California Department of Motor Vehicles said Friday it is proposing to allow testing of self-driving heavy-duty trucks and other large vehicles on state public roads. California currently allows self-driving light-duty passenger vehicles for testing on public roads but not heavy-duty vehicles weighing more than 10,001 pounds, which manufacturers are testing in states like Texas, … [Read more...]

Summary Q1 net profit jumps 100.4% to 9.2 billion yuan Company had estimated profit of 8.5-10 billion yuan BYD has launched a price war for smart EVs BEIJING, (Reuters) – BYD’s first-quarter profit leapt 100.4% from a year earlier, the fastest pace in nearly two years, as the Chinese electric vehicle giant extends its lead in its competitive home market after launching a smart EV price war. Net … [Read more...]

TOKYO, (Reuters) – Nissan Motor wants to end vehicle production at its Wuhan plant in China by March 31, 2026, two sources with knowledge of the plan said. The decision comes after the operation rate at the 300,000 vehicle capacity plant, which produces the Ariya electric vehicle and X-Trail SUV, fell off amid stiff competition from Chinese automakers, the Yomiuri newspaper reported … [Read more...]

Summary U.S. ally Japan seen as front runner to clinch deal Second round of talks scheduled for next week Rice imports and auto tariffs among thorny items Japanese lawmakers wary of blowback as election looms TOKYO/WASHINGTON, (Reuters) – When Tokyo’s top trade negotiator met U.S. President Donald Trump for tariff talks at the White House earlier this month, he presented him with a gold-coloured … [Read more...]

Summary Tariffs impact Trump voters’ businesses and personal finances Voters divided on how soon they expect to see tariffs’ benefits Federal cuts and immigration policies also concern Trump voters (Reuters) – President Donald Trump’s April 9 decision to hike tariffs on China hit as Steve Egan, a promotional product distributor in Tampa, Florida, was in the middle of ordering 5,000 rubber ducks … [Read more...]

Source : PTI | India consumer and EV story remains unchallenged even amid the ongoing tariff war, electric two wheeler maker Ather Energy said on Wednesday as it fixed a price band of Rs 304 to Rs 321 apiece for its Rs 2,981-crore IPO that is set to be opened for public subscription from April 28 to April 30. Of this, the offer for sale portion comprises nearly Rs 355-crore, the company … [Read more...]

Source : PTI | A complete shift from older vehicles to electric vehicles in 44 Indian cities with a population of at least 10 lakh could avoid 11.5 tonnes of PM2.5 emissions every day by 2035 and reduce greenhouse gas emissions by 61 million tonnes of carbon dioxide equivalent, according to a new study. The study, published by The Energy and Resources Institute (TERI), said it would also save more … [Read more...]

Summary Comments come as Tesla plans robotaxi rollout in US this year Tesla cars cost about a fifth of Waymo, says Musk Waymo only US firm that runs uncrewed robotaxis and collects fares SAN FRANCISCO, (Reuters) – Alphabet’s Waymo self-driving taxis may be available for people to own in the future, CEO Sundar Pichai said on Thursday, just as electric vehicle maker Tesla gears up to roll out … [Read more...]

Summary Trump says talks underway, China says not true Trump says he has made ‘200 deals’ that would be completed within three to four weeks Business groups say China waives tariffs on pharmaceuticals, mulls other exemptions (Reuters) – U.S. President Donald Trump asserted in an interview published on Friday that tariff negotiations were under way with China, but Beijing denied any talks were … [Read more...]

Summary USTR levying port fees on all foreign-built vehicle carriers Fees will hit vessels that support US military, sources say Vehicle carrier customers already hit by US auto tariffs NEW ORLEANS, (Reuters) – Operators of hulking car carriers are seeking relief from the U.S. Trade Representative’s surprise plan to levy port fees on all foreign-built ships in that segment, including 20 vessels … [Read more...]

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Source : PTI | Electric two-wheeler firm PURE on Wednesday said it has introduced a battery based 5MWh grid storage product for grid stability and accelarting the integration of renewable energy sources. The PuREPower grid product is expected to find usage across solar and wind projects, large commercial and industrial establishments and across EV fast charging stations on highways. Addressing a … [Read more...]