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May 23, 2022

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India’s Mahindra to explore more partnerships for EV parts -CEO

Reuters
Anish Shah, Chief Executive Officer (CEO) of India’s Mahindra Group, poses for a picture after an interview with Reuters ahead of the World Economic Forum (WEF) at the Alpine resort of Davos, Switzerland May 22, 2022. REUTERS/Aditya Kalra Register now for FREE unlimited access to Reuters.com Register DAVOS, Switzerland, May......

Hyundai Motor Group to invest $5 billion in U.S. through 2025

Reuters
SEOUL, May 22 (Reuters) – Hyundai Motor Group said on Sunday it plans to invest an additional $5 billion in the United States through 2025 to strengthen its collaboration with U.S. firms in diverse technologies, such as robotics, urban air mobility, autonomous driving and artificial intelligence. Hyundai Motor Group, which......

Factbox: The Great Rebrand: Western business reborn in Russia under new names

Reuters
May 20 (Reuters) – McDonald’s Corp (MCD.N) is selling its restaurants in Russia to one of its current local licensees, who will reopen the branches under a new name yet to be decided – the most high-profile rebranding so far of companies extricating themselves from Russia. read more Scores of......

Biden arrives in S.Korea with first stop at Samsung

Reuters
OSAN AIR BASE, South Korea, May 20 (Reuters) – President Joe Biden arrived in South Korea on Friday, the first stop on his first trip to Asia as president, where his attempts to counter China’s influence and build economic ties are likely to be overshadowed by North Korean threats. Biden......

U.S. files third labor complaint in Mexico, on behalf of Panasonic workers

Reuters
MEXICO CITY, May 18 (Reuters) – U.S. labor officials asked Mexico on Wednesday to probe whether workers at a Panasonic (6752.T) auto parts factory were denied their rights, marking the third U.S. labor complaint under a new trade deal that aims to improve workplace conditions in Mexico. The request from......

Stellantis to start reshuffle of dealer network next year

Reuters
Stellantis logo and stock graph are seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register VERONA, Italy, May 18 (Reuters) – Stellantis (STLA.MI) will start a reshuffle of its European dealers’ network next year from Austria, Belgium and the......

Imperial Brands says no ‘buyback’ clause in Russia exit

Reuters
Packs of Gauloises cigarettes are on display in a tobacco shop in Vienna, Austria, May 12, 2017. REUTERS/Leonhard Foeger Register now for FREE unlimited access to Reuters.com Register LONDON, May 17 (Reuters) – Imperial Brands (IMB.L) said on Tuesday the terms of its recent agreement to exit Russia did not......

Mariupol steelworks defenders appear to signal end of siege

Reuters
KYIV, May 16 (Reuters) – The Ukrainian unit holed up beneath the Azovstal steelworks in Mariupol said on Monday its garrison was fulfilling orders to save the lives of troops, an apparent indication that the long siege there was coming to an end. The fighting at Azovstal in ruined Mariupol......

Renault sells Russia’s Avtovaz stake, but leaves room for return

Reuters
Renault sells Avtovaz stake reportedly for one rouble Leaves door open for return with six-year buyback option Moscow plant to resurrect Soviet-era Moskvich brand May 16 (Reuters) – Renault (RENA.PA) is to sell its majority stake in carmaker Avtovaz (AVAZI_p.MM) to a Russian science institute reportedly for just one rouble......

Assisted driving systems struggle with collision tests – study

Reuters
A view of the controls of a Tesla 85D on display at a Tesla showroom in Pasadena, California, August 3, 2015. REUTERS/Mario Anzuoni/Files Register now for FREE unlimited access to Reuters.com Register DETROIT, May 12 (Reuters) – Assisted driving systems installed in Tesla Inc (TSLA.O), Hyundai Motor Co (005380.KS) and......

Toyota to make EV parts in India for domestic, export markets

Reuters
The Toyota logo is seen on the bonnet of a newly launched Camry Hybrid electric vehicle at a hotel in New Delhi, India, January 18, 2019. REUTERS/Anushree Fadnavis Register now for FREE unlimited access to Reuters.com Register Move is part of Toyota’s 2050 carbon-neutrality goals NEW DELHI, May 11 (Reuters)......

EV maker Rivian stands by production target despite supply-chain snarls

Reuters
Rivian CEO R.J. Scaringe introduces his company’s R1T all-electric pickup truck at Los Angeles Auto Show in Los Angeles, California, U.S. November 27, 2018. REUTERS/Mike Blake Register now for FREE unlimited access to Reuters.com Register May 11 (Reuters) – Rivian Automotive Inc (RIVN.O) on Wednesday reaffirmed its annual production forecast......

New car sales in Russia slump by record 78.5% y/y in April

Reuters
New cars are seen parked at the plant of Volkswagen Group Rus in Kaluga, Russia March 30, 2022. REUTERS/Evgenia Novozhenina Register now for FREE unlimited access to Reuters.com Register May 11 (Reuters) – New car sales in Russia fell by a record 78.5% year on year in April, dropping for......

Toyota warns profit to skid 20% as raw materials costs pile up

Reuters
A man walks past a Toyota logo at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar Su Register now for FREE unlimited access to Reuters.com Register Sees FY oper profit at 2.4 trillion yen vs 3 trillion yen yr-ago Q4 operating profit down 33% on year; shares......

Musk says he would reverse Twitter ban on Donald Trump

Reuters
May 10 (Reuters) – Billionaire Elon Musk said Tuesday he would reverse Twitter’s ban on former U.S. President Donald Trump when he buys the social media platform, the clearest signal of Musk’s intention to cut moderation of the site. Musk, the world’s richest person and chief executive of Tesla Inc,......

Toyota to slash production plan, suspend some domestic operation due to COVID lockdown in China

Reuters
A Toyota Motor Corp. logo is seen on a car at the International Auto Show in Mexico City, Mexico November 23, 2017. REUTERS/Henry Romero Register now for FREE unlimited access to Reuters.com Register TOKYO, May 10 (Reuters) – Toyota Motor Corp (7203.T) said on Tuesday it would suspend operations on......

Exclusive: Tesla halts most production at Shanghai plant on Tuesday – memo

Reuters
Tesla China-made Model 3 vehicles are seen during a delivery event at the carmaker’s factory in Shanghai, China January 7, 2020. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register Plant to produce less than 200 cars on Tuesday – memo Plant halted work due to supplies issues......

Indian shares post worst week since November on concerns over rate hikes

Reuters
A man looks at a screen displaying news of markets update inside the Bombay Stock Exchange (BSE) building in Mumbai, India June 20, 2016. REUTERS/Danish Siddiqui Register now for FREE unlimited access to Reuters.com Register BENGALURU, May 6 (Reuters) – Indian shares closed over 1% lower on Friday and registered......

Audi Formula One deal with McLaren becoming unlikely -source

Reuters
An Audi logo is pictured during the Volkswagen Group’s annual general meeting in Berlin, Germany, May 3, 2018. REUTERS/Axel Schmidt Register now for FREE unlimited access to Reuters.com Register HAMBURG, May 5 (Reuters) – An agreement for Volkswagen’s (VOWG_p.DE) premium brand Audi to join Formula One by investing in British......

China COVID hard line eats into everything from Teslas to tacos

Reuters
SHANGHAI, May 2 (Reuters) – When Tesla’s (TSLA.O) Shanghai plant and other auto factories were shut over the last two months by emergency measures to control China’s biggest COVID-19 outbreak, the burning question was how quickly they could restart to meet surging demand. But with the Shanghai lockdown grinding into......

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