FRANKFURT (Reuters) – Daimler cut its 2019 earnings outlook on Sunday after lifting provisions for issues related to its diesel vehicles by hundreds of millions of euros, sending its shares lower on Monday. Group earnings before interest and tax this year are ... More »
BEIJING/SEOUL (Reuters) – China has scrapped its list of recommended battery suppliers, the industry ministry said on Monday, a decision foreign companies said could open up the world’s biggest market for electric vehicle batteries. China, the world’s largest ... More »
(Reuters) – Autonomous vehicle technology company Velodyne Lidar has hired bankers for an initial public offering, Business Insider reported on Saturday, citing sources familiar with the process. The San Jose, California-based company is working with Bank of A... More »
NEW DELHI (Reuters) – India’s federal think-tank has asked scooter and motorbike manufacturers to draw up a plan to switch to electric vehicles, days after they publicly opposed the government’s proposals saying they would disrupt the sector, two sources told ... More »
WASHINGTON (Reuters) – President Donald Trump said on Monday that U.S. authorities would begin next week removing millions of immigrants who are in the United States illegally. “Next week ICE will begin the process of removing the millions of illegal aliens wh... More »
PARIS (Reuters) – Fiat Chrysler Automobiles NV and Renault SA are looking for ways to resuscitate their collapsed merger plan and secure the approval of the French carmaker’s alliance partner Nissan Motor Co Ltd , according to several sources close to the comp... More »
SAN FRANCISCO (Reuters) – Self-driving car software startup Aurora said on Sunday it would partner with Fiat Chrysler to build autonomous platforms for commercial vehicles, the latest collaboration with an automaker for the fast-growing Silicon Valley company.... More »
PARIS (Reuters) – Nissan Motor Co believes that attempts by Renault SA to place one of its directors on Nissan’s planned governance reform committees may lead to a conflict of interest, a source with knowledge of the issue told Reuters on Monday. Renault, whic... More »
SEOUL (Reuters) – South Korea and Britain have agreed in principle to sign a separate free trade deal ahead of Britain’s exit from the European Union in late October, South Korea’s trade ministry said on Monday. The deal would help South Korea minimize trade u... More »
MEXICO CITY (Reuters) – Mexico’s president and the top U.S. business lobbying group called on President Donald Trump to back down from a threat to impose punitive tariffs on Mexican imports, in a dispute over migration that could shock Mexico’s economy. Trump ... More »
TOKYO (Reuters) – U.S. President Donald Trump pressed Japanese Prime Minister Shinzo Abe on Monday to even out a trade imbalance with the United States and expressed confidence, despite Japanese wariness, that “good things” would come from North Korea. Trump i... More »
MONACO (Reuters) – Lewis Hamilton withstood lap after lap of intense pressure on worn tires to win a nail-biting Monaco Grand Prix on Sunday in a triumphant tribute to his Mercedes team’s late Formula One great Niki Lauda. The Briton, who now has 77 career win... More »
SAN FRANCISCO (Reuters) – Uber’s first employee and one-time chief executive Ryan Graves will step down from the company’s board of directors, Uber said on Friday. Graves this week informed the company of his intention to resign from the board, beginning Monda... More »
LONDON (Reuters) – Investors have added to their global equity holdings for the first time in 2-1/2 months and continued to pile into bonds, Bank of America Merrill Lynch said on Friday, as worries about the U.S.-China trade spat sent shudders through financia... More »
BEIJING (Reuters) – China’s foreign ministry said on Monday the country will never surrender to external pressure after Washington renewed its threat to impose tariffs on all Chinese imports in an escalating trade dispute. The trade war between the world’s top... More »
LONDON (Reuters) – Global automotive supplier Bosch expects platinum to play only a minor role in its new fuel cells, giving precious metal markets scant benefit even as the technology gains momentum for pollution-free transport. According to Reuters calculati... More »
BEIJING (Reuters) – China’s foreign ministry said on Monday the country will never surrender to foreign pressure after Washington renewed its threat to impose tariffs on all Chinese imports in an escalating trade dispute. Foreign ministry spokesman Geng Shuang... More »
FRANKFURT (Reuters) – European Trade Commissioner Cecilia Malmstroem expects U.S. President Donald Trump to delay a May 18 deadline for U.S. tariffs on cars imported from the European union, according to an interview published in the Sueddeutsche newspaper on ... More »
(Reuters) – Uber Technologies Inc’s conservative initial public offering could not keep its shares from sinking in their trading debut on Friday, fueling debate on Wall Street over whether the outcome of the most anticipated listing since Facebook Inc would we... More »
NEW YORK (Reuters) – Uber Technologies Inc’s drivers in New York will go on strike next week shortly before the ride-hailing company goes public to protest what they view as unfair employment conditions, a taxi union said on Friday. The protests underscore the... More »
WASHINGTON (Reuters) – U.S. trade officials rejected Tesla Inc’s bid for relief from President Donald Trump’s 25-percent tariffs on the Chinese-made Autopilot “brain” of its Model 3 and other electric vehicles, one of more than 1,000 product denials linked to ... More »
TOKYO (Reuters) – Japanese prosecutors indicted former Nissan Motor Co Chairman Carlos Ghosn on Monday on a charge of aggravated breach of trust, a Tokyo court said, bringing a fourth charge against him on the day his detention period was set to expire. Ghosn’... More »
TOKYO (Reuters) – Carlos Ghosn on Monday applied for bail following his latest indictment over aggravated breach of trust, as the former Nissan Motor Co chairman fights his fourth indictment over financial misconduct. Ghosn’s defense team filed the bail reques... More »
SHANGHAI (Reuters) – U.S. electric vehicle (EV) maker Tesla Inc on Monday said it has sent a team to investigate a video on Chinese social media which showed a parked Tesla Model S car exploding, the latest in a string of fire incidents involving Tesla’s cars.... More »
TOKYO (Reuters) – The lead lawyer for Carlos Ghosn said he expected a fresh indictment for the former Nissan Motor Co boss to come later on Monday. “We haven’t heard of an indictment yet. I expect it will be this afternoon,” Junichiro Hironaka told reporters o... More »
MEXICO CITY/OTTAWA (Reuters) – More than six months after the United States, Mexico and Canada agreed a new deal to govern more than $1 trillion in regional trade, the chances of the countries ratifying the pact this year are receding. The three countries stru... More »
(Reuters) – Italian-U.S. carmaker Fiat Chrysler Automobiles NV (FCA) has agreed to pay electric carmaker Tesla Inc hundreds of millions of euros to allow Tesla vehicles to be counted in its fleet to avoid fines for violating new European Union emission rules. ... More »
WASHINGTON/BRUSSELS/BEIJING (Reuters) – U.S. President Donald Trump’s blunt-force use of tariffs in pursuing his “America First” trade agenda has angered many, from company executives to allied governments and members of both parties of Congress. But there’s o... More »
BENGALURU (Reuters) – The southern Indian state of Karnataka kept the door open on Saturday to talks with local ride-hailing service Ola to avoid a ban that could help rival Uber build market share. Karnataka earlier this week issued a notice to suspend Ola’s ... More »
BEIJING (Reuters) – Alibaba, Tencent, Suning, and car makers including Chongqing Changan Automobile have set up a $1.5 billion Chinese ride-hailing venture, a move that could test the dominance of ride-sharing giant Didi Chuxing. Chongqing Changan Automobile s... More »
(Reuters) – A group of U.S. states is investigating Hyundai Motor Co and Kia Motors Corp for potential unfair and deceptive acts related to reports of hundreds of vehicle fires, Connecticut Attorney General William Tong said on Monday. The South Korean automak... More »
WASHINGTON (Reuters) – U.S. regulators will ask the public if robotic cars should be allowed on streets without steering wheels or brake pedals as they try to set the first legal boundaries for their design in the world’s second largest vehicle market. The U.S... More »
TOKYO (Reuters) – A Tokyo court on Monday denied ousted Nissan boss Carlos Ghosn’s request to attend a board meeting this week, broadcaster NHK reported, blocking what would have been a dramatic face off with the colleagues he has accused of fomenting a coup. ... More »
(Reuters) – Electric carmaker Tesla Inc said on Sunday it will raise prices of its high-end vehicles by about 3 percent on average as it plans to keep more retail stores open than planned. Tesla said the worldwide price hikes will apply to the more expensive v... More »
TOKYO (Reuters) – The lawyer for former Nissan Motor Chairman Carlos Ghosn on Monday said he was optimistic the ousted executive could win bail soon and said he would pursue a different defense strategy against charges of financial conduct. Junichiro Hironaka,... More »
TOKYO (Reuters) – The lawyer for former Nissan Motor Co Ltd Chairman Carlos Ghosn on Monday said he was optimistic the ousted executive could win bail in the near future, after being held in custody at a detention center in Japan for over three months. “I beli... More »
(Reuters) – Tesla Inc will unveil its Model Y on March 14 at an event in LA Design Studio, Chief Executive Elon Musk said on Sunday. “Model Y, being an SUV, is about 10 percent bigger than Model 3, so will cost about 10 percent more & have slightly less range ... More »
STOCKHOLM (Reuters) – Electric scooter sharing firm VOI Technology has raised $30 million in another fundraising round since being set up seven months ago for its European expansion and investment in research to fend off growing competition, it said on Monday.... More »
WASHINGTON (Reuters) – U.S. authorities are investigating a fatal Tesla Inc Model S crash in Florida last Sunday that killed the driver and caused a massive fire, the second fatal Tesla crash in the state this week being probed, the National Highway Traffic Sa... More »
FRANKFURT (Reuters) – Germany’s car industry is to invest nearly 60 billion euros ($68 billion) over the next three years on electric cars and automated driving, the head of the VDA car industry association said ahead of the Geneva motor show. “We will invest ... More »
LONDON (Reuters) – Prime Minister Theresa May’s Brexit deal should be put to a second referendum if it is passed by parliament, the Brexit spokesman for the opposition Labour Party Keir Starmer said on Tuesday. On Monday, Labour said it would back calls for a ... More »
SHANGHAI (Reuters) – Chinese state media on Saturday expressed cautious optimism over trade talks between the United States and China, a day after President Xi Jinping said a week of discussions had produced “step-by-step” progress. Xi made the comments at a m... More »
WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin are in Beijing this week as Chinese and American negotiators try to hammer out a trade deal to ease a trade war and avert an increase in U.S. tariffs ... More »
LONDON (Reuters) – Britain’s education minister Damian Hinds said on Monday he did not envisage a no-deal Brexit becoming the official policy of Prime Minister Theresa May’s government. Asked if May had told her cabinet of senior ministers she would not allow ... More »
TOKYO (Reuters) – Subaru Corp said it restarted its sole car factory in Japan on Monday after halting the plant for almost two weeks due to a suspected defect in a power-steering component. The company said in a statement it did not yet know what impact the pr... More »
WASHINGTON (Reuters) – U.S.-China trade talks will reach a pivotal phase this week when Chinese Vice Premier Liu He comes to Washington for negotiations with his U.S. counterparts, U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven ... More »
ROTTERDAM (Reuters) – As Daan Hosli’s hybrid BMW glides into downtown Rotterdam, it passes a virtual boundary into the city’s “electric-only zone” and his mobile phone trills out a reminder to switch off his combustion engine and drive on battery power. Hosli ... More »
LUND, Sweden (Reuters) – Might tree roots, twigs and branches one day be used to power cars? That’s what a Swedish researcher is hoping after developing a pulp byproduct that – on a modest scale – does just that. Chemical engineering scientist Christian Hulteb... More »
LONDON (Reuters) – Carmaker Rolls-Royce called on the British government to avoid a disorderly Brexit and said it was building up some stock, expanding warehouse capacity and training suppliers for customs changes in case Britain leaves the EU without a deal. ... More »
BERLIN (Reuters) – Volkswagen (VOWG_p.DE) is seeking damages from former managers, who were dismissed for their roles in the diesel emissions scandal that has cost the German automaker as much as $30 billion, the Handelsblatt newspaper reported on Thursday. Vo... More »
LONDON (Reuters) – British Prime Minister Theresa May’s government cautioned lawmakers on Wednesday that it was a delusion to think that the government would be able to negotiate a new divorce deal with the European Union if parliament voted down her deal next... More »
WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV (FCHA.MI) is nearing a settlement to resolve the U.S. Justice Department’s allegations that the Italian-American automaker used illegal software to allow 104,000 U.S. diesel vehicles to pollute beyond legal l... More »
LONDON (Reuters) – Jeremy Clarkson, Richard Hammond and James May return for a third season of their thrill-seeking motor show “The Grand Tour”, with plenty of fast cars and stunning scenery they hope will take viewers’ minds off the real world. The Amazon pro... More »
(Reuters) – Chicago law firm Corboy & Demetrio said on Tuesday it filed a lawsuit against electric carmaker Tesla Inc (TSLA.O) alleging that its 2014 Model S sedan had a defective battery pack that caused the death of an 18-year old passenger in an accident la... More »
HANOI (Reuters) – A Vietnamese court on Friday ordered ride-hailing firm Grab to pay 4.8 billion dong ($206,985) in compensation to a local taxi operator, ending an 18-month-long legal battle between the two firms, a Grab spokesman and state media reports said... More »
TOKYO (Reuters) – Nissan Motor Co (7201.T) will produce 30,000 fewer vehicles in the coming months in China than what it had planned, a person briefed on the matter told Reuters, as global automakers grapple with falling demand in the world’s biggest car marke... More »
FRANKFURT (Reuters) – Volkswagen’s (VOWG_p.DE) cleanup of a diesel cheating scandal will cost it 5.5 billion euros ($6.25 bln) in 2018 and around 2 billion euros in 2019, Chief Financial Officer Frank Witter told German weekly Boersen-Zeitung. Since 2015, the ... More »
SAN FRANCISCO (Reuters) – Self-driving car startup Zoox Inc has become the first company to receive approval from California regulators to operate an autonomous ride service for public passengers, state regulators said on Friday. The California Public Utilitie... More »
LONDON (Reuters) – British Prime Minister Theresa May is due to make a decision on Monday on whether to delay a parliamentary vote on her Brexit deal set for Tuesday, British political correspondents said. Britain’s Hunt warns of ‘real risks’ if MPs reject Bre... More »
PARIS (Reuters) – The anti-government protests convulsing France will slow growth to close to a standstill in the final quarter, the central bank said on Monday, complicating President Emmanuel Macron’s task of finding concessions to placate the “yellow vest” ... More »
NEW YORK/SAN FRANCISCO, (Reuters) – Uber Technologies Inc has filed paperwork for an initial public offering, according to three people with knowledge of the matter, taking a step closer to a key milestone for one of the most closely watched and controversial ... More »
(Reuters) – Several carmakers reported a drop in new car sales in the United States in November, hurt by rising car prices and higher interest rates as well as further declines in sales of sedans. Ford Motor Co (F.N), Honda Motor Co Ltd (7267.T) and Toyota Mot... More »
LONDON (Reuters) – British Prime Minister Theresa May said she would still be in her job in two weeks time, downplaying speculation that she might resign if she loses a key Brexit vote in parliament which is scheduled for Dec. 11. “I will still have a job in t... More »
WASHINGTON/SHANGHAI (Reuters) – U.S. President Donald Trump said China had agreed to cut import tariffs on American-made cars, buoying shares in BMW and Daimler AG who manufacture in the United States for export to the world’s biggest auto market. Shares of Ch... More »
WASHINGTON/BEIJING (Reuters) – President Donald Trump and top U.S. officials said on Monday that a trade truce with China will lead to structural changes in Beijing’s economic policies, including lower tariffs, lower non-tariff barriers and more market access ... More »
LONDON (Reuters) – Canadian Nicholas Latifi will be a reserve driver for Williams next season, the Formula One team announced on Monday. The 23-year-old was previously test and reserve driver for Force India, who now have Canadian owners and have been renamed ... More »
WASHINGTON (Reuters) – Uber Technologies Inc on Monday confirmed it hired a senior U.S. auto safety official involved in the federal government’s handling of self-driving cars for its autonomous vehicle efforts. Nat Beuse, a long-time official at the National ... More »
LAS VEGAS (Reuters) – Self-driving cars, meet Amazon’s self-driving toys. Amazon.com Inc’s cloud unit on Wednesday announced a $399 autonomous toy car, aimed at helping web developers try out some of their own self-driving technology. Customers can train and t... More »
MILAN (Reuters) – Fiat Chrysler’s (FCHA.MI) European boss has quit, adding to the problems facing new CEO Mike Manley who must deliver on promises to boost production of SUVs and catch up with rivals in electric cars. Jeep division head Manley was named on Sat... More »
(Reuters) – Shares of Tesla Inc (TSLA.O) fell more than 4 percent in trading before the bell on Monday, after a report that the electric car maker has turned to some suppliers for a refund of previously made payments in a bid to turn a profit. Tesla has asked ... More »
BEIJING (Reuters) – In China, where the future of the car is looking more and more electric, newcomers to the auto industry are looking for partners to help them build their vehicles. Enter Canadian auto supplier Magna International (MG.TO) which aims to spear... More »
BRUSSELS (Reuters) – European Commission President Jean-Claude Juncker will not arrive in the United States for talks with U.S. President Donald Trump with a specific trade offer, the Commission said on Monday. Juncker will travel to Washington on Wednesday fo... More »
FRANKFURT (Reuters) – The U.S. and euro zone economies remain a world apart and growth data due in the coming days will only highlight the widening gap, suggesting that monetary policy will continue to move in opposing directions on the two sides of the Atlant... More »
BEIJING (Reuters) – China’s Didi Chuxing signed an agreement with German automotive supplier Continental AG on Tuesday to cooperate in developing internet-connected, electric cars tailor-made for Didi’s ride hailing services. Didi currently uses regular passen... More »
SHANGHAI (Reuters) – Tesla Inc on Tuesday signed agreements with Shanghai authorities that will allow it to open a plant in the Chinese city with an annual capacity of 500,000 cars, local media reported. The U.S. carmaker signed agreements with the Shanghai mu... More »
BEIJING/SHANGHAI (Reuters) – U.S. carmaker Tesla Inc has hiked prices on its Model X and S cars by about 20 percent in China, the first automaker to do so in the world’s top automotive market in response to mounting trade tensions between the countries. The mo... More »
BEIJING/WASHINGTON (Reuters) – The United States and China slapped tit-for-tat duties on $34 billion worth of each other’s imports on Friday, with Beijing accusing Washington of triggering the “largest-scale trade war” as the world’s two biggest economies shar... More »
BEIJING (Reuters) – Ford Motor’s (F.N) China slump intensified, with vehicle sales tumbling 38 percent in June and the automaker recording its worst ever first-half, as buyers shunned its aging models that are awaiting overhauls and flocked to rivals. The U.S.... More »
DETROIT (Reuters) – U.S. President Donald Trump’s threat to block Chinese investment in U.S. companies could be trouble for a number of American automotive and technology companies using Chinese funds to develop electric and self-driving cars and related servi... More »
BEIJING (Reuters) – China is considering a further reduction in electric-vehicle subsidies next year, Bloomberg reported on Friday, citing unnamed sources. Beijing is scaling back subsidies to push automakers to focus more on technological improvements instead... More »
(Reuters) – A California agency for occupational safety said on Thursday it opened a third investigation at Tesla Inc’s factory in Fremont, California, following a complaint. The state’s Occupational Safety and Health Administration (Cal-OSHA) said it opened t... More »
LONDON (Reuters) – BMW (BMWG.DE) is not considering moving production out of Britain because of uncertainty connected to Brexit, the company’s special representative in Britain said on Tuesday. When asked by a reporter at a conference whether the German car ma... More »
LONDON (Reuters) – Uncertainty over Brexit has halved new investment in the British car industry and Prime Minister Theresa May should urgently change tack and keep the world’s fifth largest economy in the EU’s customs union, the country’s main car lobby group... More »
(Reuters) – U.S. President Donald Trump on Monday slammed Harley-Davidson Inc (HOG.N) after the motorcycle maker said it would move production for European customers overseas to avoid retaliatory tariffs that could cost it up to $100 million per year. Trump sa... More »
LONDON (Reuters) – Uber will hear on Tuesday if a bid to overturn a ruling stripping it of its license to operate in London, its biggest European market, has succeeded after it said its corporate culture and practice had changed. The taxi-hailing app overhaule... More »
BEIJING (Reuters) – China’s door to talks is open in principle, the country’s Foreign Ministry said on Monday, a day after Beijing warned that any trade and business deals reached with Washington would be void if the United States implemented tariffs. The Unit... More »
(Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk faces votes at Tuesday’s shareholder meeting that will challenge his grip on the electric carmaker, but he may be able to count on some powerful friends: big fund managers likely to be fans. These stockp... More »
TOKYO (Reuters) – A self-driving car service could be on Tokyo’s public roads in time for the 2020 Olympics as Japan looks to drive investment in new technology to drive economic growth, according to a government strategic review announced on Monday. The strat... More »
LONDON/PARIS (Reuters) – Carmakers including Renault, Jaguar Land Rover and Peugeot have boosted revenues by over $1 billion in the past decade by using sophisticated pricing software, according to sales presentations prepared by the software vendor, Accenture... More »
WASHINGTON (Reuters) – President Donald Trump is running out of time to deliver a revamp of the North American Free Trade Agreement (NAFTA) he promised for this year and people involved in the talks say the crunch is largely of his administration’s own making.... More »
(Reuters) – Nissan Motor Co Ltd (7201.T) is slashing production by as much as 20 percent in North America to cope with a decline in automobile sales, the Nikkei reported on Monday. Cuts are already in progress at two assembly plants in the United States and th... More »
BRUSSELS (Reuters) – Europe’s top trade official Cecilia Malmstrom will meet U.S. counterparts Wilbur Ross and Robert Lighthizer in Paris on Wednesday, two days before a temporary reprieve from U.S. steel and aluminum tariffs is due to expire. “A bilateral mee... More »
SINGAPORE (Reuters) – Ride-hailing firm Grab will partner with Malayan Banking Bhd (Maybank), Malaysia’s biggest bank, to drive the usage and adoption of its GrabPay mobile wallet, the companies said in a statement on Monday. Grab, which received its e-money l... More »
BEIJING (Reuters) – China does not want trade tensions with the United States, the Chinese Foreign Ministry said on Monday after the world’s largest economies agreed to drop their tariff threats while they work on a wider trade agreement. Ministry spokesman Lu... More »
BOSTON (Reuters) – Proxy adviser Institutional Shareholder Services (ISS) recommended on Friday that investors vote against Tesla Inc (TSLA.O) directors Antonio Gracias and James Murdoch, increasing pressure on the car maker over their roles on its board. ISS ... More »
BEIJING (Reuters) – Steel mills in China are spending big on equipment that shreds cars and other junk metal for use as raw material, as government demands to make smoke-stack industries cleaner continues to reshape heavy manufacturing. Investing in scrap-proc... More »
WASHINGTON (Reuters) – Talks to update the NAFTA trade deal enter a make-or-break week on Monday, as ministers from Canada, the United States and Mexico seek to resolve an impasse in key areas before elections in Mexico and the United States complicate the pro... More »
(Reuters) – Carmakers have big plans for their next generation of factories: smarter designs, artificial intelligence and collaborative robots building a wide range of vehicles on the same line. The plants will also feature a component they say is the secret i... More »
(Reuters) – Tesla Inc’s board recommended on Thursday that shareholders vote against a proposal that would require the electric car maker’s chairman to be an independent director, ahead of its annual meeting. Elon Musk, chief executive of Tesla, is also the ch... More »
BERLIN (Reuters) – The German state of Thuringia is ready to offer assistance to carmaker Opel in order to keep open the region’s Eisenach plant, state premier Bodo Ramelow told Reuters on Monday. The state could help with energy costs and property, he said, b... More »
