Morning Daily - 2020-05-29

ETAuto Newsletter | Friday, May 29, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
Top Stories
• Commercial vehicle dealers in dire straits, 10% may have to shut shop
• Chinese auto major GWM names MD and President for Indian subsidiary
• Auto dealers may default on loans due to unsold stock HT MINT
• DICV signs MoU with TN govt, invests Rs 2,277 crore in Oragadam plant
• Fuel prices may rise by Rs 5/litre after daily revision restarts
• Nissan unveils four-year transformational plan
• ETAutoTV: Adopt virtual manufacturing to build resilience in the time of crisis: CV Raman
• Maruti Suzuki India dismisses a Nexa outlet of Navnit Motors in Mumbai
• Course correction: domestic flights see rough take-off on lack of coordination. Heres the fix. ET Prime
• Kia Motors to invest another $54 million in Andhra Pradesh
• ETAutoTV: Mahindra Electric to launch most affordable electric four-wheeler in India: Martin Murray
• GST relaxation, scrappage policy needed to lift auto inc: Soumitra Bhattacharya, MD, Bosch
• MSMEs in Pune region face supply chain and cash flow issues HBL
• In leg-up to migration to EVs, Tata Power to expand charging infra four-fold this year HBL
• Tough for industry to crank up quickly: Venu Srinivasan HBL
• Want to make your Panigale V4 race-ready? HBL
• Q4 earnings: TVS Motors standalone profit declines 45% YoY HT MINT
• Opinion | The question of whether India's economic stimulus is adequate HT Mint
• Car Rentals After The Pandemic: This Is What You Need To Know Forbes
• GM Plans to Ramp Up Plants With Dealers Running Low on Pickups BloombergQuint
• Renault set to unveil 15,000 job cuts worldwide, union says BNN
• GM's idled Warren Transmission plant finds a new purpose during outbreak Detroit News
• German Auto Supplier ZF Friedrichshafen to Cut Up to 15,000 Jobs: Memo Nytimes.com
• Council Post: How Technology Can Support Businesses In Times Of Crisis Forbes
• Why Business Technology Leaders Are Backlogged And Why It Matters For You In This New World Forbes
• Malaysia auto sales drop 99% on coronavirus lockdown Nikkei Asian Review
Policy
• 23 US states sue Trump administration over fuel efficiency rollback
Industry
• NHAI offers Covid-19 loan & contract extension to highway developers
• Eligible MSMEs to get offer of pre-approved loan under Rs 3 lakh crore relief package
• FDI in India jumps 13% to record $49.98 billion in 2019-20
• Automobile industry to see double-digit sales decline in FY21: Crisil Research
• Electric vehicle maker Nio eyes listing of new China entity
• Young pros facing jobs cuts may turn into the 'lockdown generation'
• Costly electric vehicles confront a harsh coronavirus reality
• CRISIL sees Indian economy shrinking to 5% in FY'21
• Used vehicles, two-wheelers to benefit from hesitation to use public transportation: CRISIL
• Nifty, Sensex rise over 1% as financials lead surge
• Rupee falls 19 paise to 75.90 against US dollar in early trade
• India's GDP growth may rebound to 5% in FY22, says former RBI governor
• Worlds biggest lockdown to push 12 million into extreme poverty
• Piyush Goyal asks industry to start working for post-Covid period; says worst for economy is over
Passenger Vehicle
• Volkswagen board formally okays Ford alliance projects
• Hyundai forms task force to support customers in cyclone affected West Bengal
• UK car output could fall to lowest level in decades after virus hit
• Tesla's Elon Musk earns $770 million in stock options, company confirms
• Audi, Capgemini form JV for digital manufacturing
• Nissan settles dispute with Tamil Nadu over unpaid dues
• McLaren Group first-quarter figures reveal impact of COVID-19 hit
• GM, Ford turn to fast-payment programs to aid suppliers hit by shutdowns
• Japanese automakers' April sales more than halved
• Suspension rust problem forces Mitsubishi to recall vehicles
• Automobili Lamborghini recreates Lamborghini Sin FKP 37 with LEGO bricks
• Nissan reports annual net loss of $6.2 bn for FY20; closes two auto plants
Two Wheelers
• Suzuki Motorcycle India launches BS-VI compliant quarter-liter Gixxer series, priced from Rs 1.63 lakh
Aftermarket
• Amazon's Zoox deal may save $20 billion, put Tesla on its heels
Auto Components
• Rolls-Royce-Daimler Truck AG to jointly develop stationary fuel-cell systems
Tyres
• Ceat Q4 net profit falls 20 pc to Rs 52 crore
Auto Technology
• Baidu develops world's largest autonomous vehicle testing ground
Auto Finance
• Maruti Suzuki partners with HDFC Bank for car finance
Oil & Lubes
• Oil prices fall as US fuel demand remains weak
 
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