News From Reuters

More from Reuters

• EV startup Canoo posts larger-than-expected loss in first quarter

  Slowing demand in the United States and stiff competition from Chinese EV makers in the world's largest auto market has hit demand for companies including Canoo.

  

• Coal India, NMDC exploring lithium mines overseas

  State-run miners Coal India and NMDC are venturing into lithium mines in Chile and Australia, aiming to secure critical minerals. India's Mines Ministry encourages state-owned firms like ONGC Videsh to explore overseas. Delegations will visit Zambia and Congo for joint exploration. India eyes trade pacts for access to critical minerals globally, including with Chile and Mongolia.

  

• Rupee may see relief on dip in US yields ahead of inflation print

  The rupee has been holding a narrow range in recent days, circling the 83.50 handle. A handful of traders reckon that the Reserve Bank of India has been lining up dollar offers on the interbank order matching system to prevent the rupee from slipping to an all-time low of 83.5750.

  

• Tesla is sued over emissions from California plant

  Tesla has been sued by an environmental nonprofit that accused Elon Musk's electric car company of violating the federal Clean Air Act hundreds of times by letting its Fremont, California, plant emit harmful pollutants.

  

• China's BYD launches mid-size hybrid pickup in Mexico

  It will go head-to-head in Mexico with compact and medium-sized trucks such as the Toyota Tacoma and Ford Ranger. It is, however, costlier than most makes of both of the competing vehicles with a starting price of 899,980 pesos (USD 53,442.68) for the Shark GL and 969,800 pesos (USD 57,588.73) for the premium Shark GS.

  

• Xiaomi becomes 8th largest EV upstart in China after successful SU7 launch

  Xiaomi's strong entry into China's crowded EV market is set to further upend the world's largest auto market, where companies have been locked in a fierce price war amid weakening demand. Xiaomi is already a household name in China for its popular smartphones and home appliances.

  

• Volkswagen explores stock sale in truckmaker Traton

  The size of the offering could be between 500 million euros and 1 billion euros depending on market conditions, according to the report.

  

• Joe Biden sharply hikes US tariffs on Chinese chips, cars & other items worth billions

  President Joe Biden announced a significant increase in tariffs on various Chinese imports, including electric vehicles and medical products, to address what the White House deems unfair trade practices. The move aims to bolster U.S. economic security but risks straining relations with Beijing ahead of the upcoming election.

  

• Rupee in a tight band tracking subdued Asian peers

  The rupee has mostly traded around the 83.50 mark over the last three sessions despite pressure from equity-related outflows. Traders remain wary of pushing the rupee lower amid expectations the Reserve Bank of India (RBI) will intervene to limit declines.

  

• US agency probes Amazon-owned Zoox robotaxis after two crashes

  NHTSA said it had opened its preliminary evaluation after two crashes involving the self-driving technology unit's vehicles equipped with the Zoox Automated Driving System that resulted in minor injuries to motorcyclists and started a probe into 500 Zoox robotaxis, NHTSA said on Monday.

  

• Tata Motors sinks most in 2 years on JLR margin concerns, demand worries

  Tata Motors' shares were last down 8.3% at 959.75 rupees. It trimmed its gains in 2024 to 23%.