Renault will look to cut the prices of the 4, 5 and new Twingo by up to 15%, rather than create new models, if the European Union’s proposed new E-Car category is brought in next month with certain parameters included. The EU’s proposal is centered around creating a new class of small affordable electric cars –… Continue reading Renault could cut prices of 4, 5, Twingo if EU’s E-Car class approved
Category: US Motoring Press
TVS Motor to sell stake in Rapido to Accel India, Prosus for Rs 287 crore
Three years after the strategic partnership, TVS Motor Company has decided to divest its shares in the Bengaluru-based ride-hailing startup Rapido. The two-and-three-wheeler maker will sell its stake in Rapido to investment firms Accel India and Prosus for Rs 287.93 crore. TVS Motor said it will sell 11,997 Series D compulsory convertible preference shares (CCPS)… Continue reading TVS Motor to sell stake in Rapido to Accel India, Prosus for Rs 287 crore
Ford reportedly considers ending production of all-electric F-150 Lightning
The Ford Lightning is seen at the New York International Auto Show on April 16, 2025. Danielle DeVries | CNBC DETROIT — Ford Motor is reportedly considering ending production of its all-electric F-150 Lightning pickup truck amid mounting losses and more challenging market conditions for EVs. The Wall Street Journal first reported the talks Thursday,… Continue reading Ford reportedly considers ending production of all-electric F-150 Lightning
AI startup Metropolis, biggest parking lot network in U.S., raises $1.6 billion for major retail expansion
watch now Metropolis, which uses AI and computer vision to identify vehicles and take parking lot payments without any physical transaction, has raised $1.6 billion in combined debt and equity in a new fundraising round at a $5 billion valuation. Already the largest parking lot network in the U.S., handling more than 7% of licensed… Continue reading AI startup Metropolis, biggest parking lot network in U.S., raises $1.6 billion for major retail expansion
CarMax stock falls 24% as CEO steps down, used car retailer releases weak outlook
A CarMax dealership in Santa Rosa, California, on April 11, 2023. Justin Sullivan | Getty Images DETROIT – Shares of CarMax Inc. fell 24% trading Thursday after the used car retailer announced a weak preliminary outlook for its current fiscal quarter and said CEO Bill Nash would be unexpectedly stepping down. The preliminary outlook for… Continue reading CarMax stock falls 24% as CEO steps down, used car retailer releases weak outlook
Pricol Ltd Reports 41.98% Rise in Net Profit in Q2FY26
Pricol Limited reported a 41.98% year-on-year rise in consolidated net profit after tax at Rs 63.99 crore during Q2FY26, the company stated in a regulatory filing. The Coimbatore-based automotive components manufacturer saw its revenue from operations reach Rs 987.93 crore, marking a 51.97% year-on-year increase during Q2FY26 compared with the same period last year. The… Continue reading Pricol Ltd Reports 41.98% Rise in Net Profit in Q2FY26
Minda Corp to Invest Rs 2,000 Crore in 5 Years
Auto component major Minda Corp has earmarked a capital expenditure of Rs 2,000 crore over the next five years as the company looks to grow significantly by the end of this decade, driven by higher contributions from the passenger vehicle business, premiumization, electrification, and exports. The company is targeting 20–25% CAGR growth in its topline… Continue reading Minda Corp to Invest Rs 2,000 Crore in 5 Years
SKF Unveils ARCTIC15 Bearing Steel for Next-Generation Aircraft Engines
SKF has announced the development of ARCTIC15, a patented bearing steel designed to enable advanced aeroengine architectures as the aviation sector works toward significant emissions reductions. The new material addresses industry requirements for rolling bearings capable of operating at higher power densities and speeds beyond current design parameters. Aircraft manufacturers are developing engines aimed at… Continue reading SKF Unveils ARCTIC15 Bearing Steel for Next-Generation Aircraft Engines
Citroën becomes second manufacturer eligible for £3750 ECG
The Citroën e-C5 Aircross has been confirmed as eligible for the Electric Car Grant (ECG) and is only the third car on sale to qualify for the larger, £3750 subsidy. While 38 sub-£37k cars have now been named eligible for the scheme, only two of those – the Ford Puma Gen-E and Ford E-Tourneo Courier –… Continue reading Citroën becomes second manufacturer eligible for £3750 ECG
2026 Renault Twingo brings 163-mile range and sub-£20k price
Renault is hoping to revive the city car class with the new Twingo EV, which has been unveiled in production-ready form. Twingo programme director Olivier Laik said: “Over the past 10 years, sales of A-segment cars have decreased significantly, from more than 1.0 million units per year to less than 600,0000. “With the increasing number of… Continue reading 2026 Renault Twingo brings 163-mile range and sub-£20k price