Author: Matthew Collins

SEOUL/MOSCOW (Business Emerge): Hyundai Motor is not positioned to reacquire its former vehicle manufacturing facility in Russia as the deadline for a contractual buyback option approaches, based on information from a person familiar with the company’s internal position. The facility, located in St. Petersburg, was transferred in 2024 to AGR Automotive Group after production had been halted for an extended period. The transaction included a clause allowing Hyundai to repurchase the asset within two years, with the window scheduled to close in January. The individual with knowledge of the matter indicated that current conditions do not allow the company to…

LONDON (Business Emerge): Uber and Lyft have confirmed plans to introduce autonomous taxi trials in the United Kingdom through separate partnerships with Chinese technology company Baidu, marking a significant step toward commercial driverless transport in the country. The initiative will see Baidu’s autonomous vehicle platform integrated into ride-hailing services operated by Uber and Lyft within London. The companies stated that the trials are scheduled to begin in 2026 and will involve Baidu’s Apollo Go RT6 vehicles operating on approved routes within the city. Under the arrangement, Baidu’s vehicles will be deployed on the London networks of both platforms, placing United…

STRASBOURG (Business Emerge/Europe Desk): The European Commission has moved to revise the framework governing the EU combustion engines ban by adjusting the emissions reduction requirement for new passenger cars from 2035, opening a pathway for limited continued sales of non-electric vehicles under defined conditions. The updated proposal, presented in Strasbourg, shifts the requirement for new vehicles sold from 2035 to achieve a 90 percent reduction in carbon dioxide emissions compared with 2021 levels. This replaces the earlier requirement of a full elimination of tailpipe emissions. The change allows certain vehicles that rely partly on combustion engines to remain eligible for…

DEARBORN (Business Emerge): Ford Motor said it will record a $19.5 billion accounting charge and discontinue several electric vehicle programs as part of a broad reset of its product and investment strategy tied to changing market conditions. The announcement was made on Monday by the Michigan-based automaker and includes the cancellation of planned battery-only models, revisions to existing electric trucks, and changes to battery manufacturing partnerships in the United States. The company stated that the charge will be recognized primarily in the fourth quarter, with portions extending through 2027. About $8.5 billion of the total relates to the termination of…

LONDON (Business Emerge): Electric vehicle sales in Europe have shown significant regional variation, with northern and western countries recording higher adoption rates compared to slower uptake in southern and eastern nations. Norway, benefiting from government subsidies funded by its sovereign wealth fund and substantial investment in charging networks, reported that electric vehicles accounted for 94 percent of total car sales during the first seven months of 2025. Other Nordic countries and several western European nations have similarly supported EV adoption through financial incentives and infrastructure expansion. In contrast, southern and eastern European countries have recorded far lower rates of electric…

MUMBAI (Business Emerge/India): Mercedes-Benz India will revise the prices of its vehicles from January, with the company confirming a planned increase of up to 2 percent as it moves to manage higher input and logistics expenses. The announcement was issued on Friday, with the manufacturer stating that the upcoming adjustment was prompted by sustained cost pressure during the year. The company noted that currency fluctuations between the euro and the rupee have remained above the 100-rupee level for most of 2024, which has added to the operational burden. Senior management conveyed that the continued movement in foreign exchange rates has…

SHANGHAI (Business Emerge/Asia): Hongqi has set its sights on a broader global footprint as the Chinese automotive brand works to strengthen its position in overseas markets while advancing its portfolio of new-energy vehicles. The company is preparing for a substantial rise in deliveries after several years of sustained domestic momentum. The roadmap was detailed as executives highlighted the brand’s evolving strategy, which includes higher shipment volumes, new model launches and a wider presence across Europe, the Middle East and the Americas. The update follows a period in which Hongqi transitioned from a niche state-use manufacturer to a mass-market contender supported…

SYDNEY: (Business Emerge/Australia) Westpac’s annual meeting recorded a significant level of dissent over the reelection of non executive director Peter Nash, marking another instance of shareholder concern linked to his association with the Australian Securities Exchange. The bank confirmed that Nash secured the required support to remain on the board, although a large portion of votes opposed his return. The meeting took place on Thursday in Sydney, where shareholders reviewed board positions and raised questions about governance. Nash received slightly more than the minimum backing of fifty percent that is needed to retain a board seat. About two fifths of…

MEXICO CITY (Business Emerge Exclusive): Mexico has approved a significant increase in import tariffs, raising duties on vehicles from countries without trade agreements, including India, to 50 percent from the current 20 percent. The decision is expected to affect approximately $1 billion worth of Indian car exports, according to industry sources and documents reviewed by BusinessEmerge.com. The tariff adjustment was approved by Mexican authorities on Wednesday as part of a broader policy to protect domestic manufacturing and employment. The increase will apply to hundreds of products, with vehicles among the most affected categories. Industry sources noted that the decision follows…

PARIS: (Business Emerge Coverage): Ford and Renault have announced a new cooperation plan that will include developing compact electric vehicles and jointly producing commercial vans for the European market. The companies outlined the initiative on Tuesday, stating that the move is designed to manage rising cost pressures and respond to increasing competition from lower-priced models in the region. In discussions held in Paris a day earlier, Ford Chief Executive Jim Farley informed reporters that the global automotive landscape is undergoing rapid change, requiring manufacturers to adjust their strategies. Farley said the collaboration is positioned as part of Ford’s efforts to…