Morning Daily - 2020-07-25

ETAuto Newsletter | Saturday, July 25, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
Top Stories
• Increasing regulatory credit to help Tesla drive profitability in coming quarters
• Commercial vehicle sales to contract by more than one-third this fiscal: CARE Ratings
• Tata Motors' EV sales head Ashesh Dhar passes away
• Tata Technologies puts portion of its employees on the bench in wake of pandemic
• ETAutoCast: Business opportunities in retired EV batteries
• Hero MotoCorp invests Rs 84 crore in Ather Energy
• SC defers FADA hearing to July 31; grants more time to Centre to file affidavit
• Karnataka makes hiring, firing easier for MSME units
• UBS, JPMorgan fuel biggest Chinese electric-vehicle battery makers USD28 billion fundraiser ET Prime
• New Haryana Factories Act allows women to work night shifts, to cover fewer companies
• Gujarat to introduce new industrial policy loaded with incentives
• No Plans For Brio Re-Entry: Honda India BW Businessworld
• Pininfarina Looks To The 5G And AI Future With Pioneering UX Design Forbes.com
• VW CEO Lauds Musk Over Tesla's Earnings and Value Potential Msn.com
• Opinion | The question of what Elon Musk may really be aiming to achieve HT Mint
• Pune industries functioning with 47% of employees, says Survey @businessline
• When Are Cars Finally Coming To 'Fortnite'? Get Ready For Some Bad News Forbes.com
• Love Is Blind: Tesla Owners Love Their Cars, Despite Their Faults Forbes.com
• The Importance Of Reintroducing Employee Assistance Programs During The Pandemic Forbes.com
• The Tesla Model Y Made In Germany Will Be Quite Different The Drive
• Australia challenges China's graphite crown in EV batteries Nikkei Asian Review
• Rivian to begin deliveries of electric pickup truck in June 2021 TechCrunch
• SaaS startup Swoop raises $3.2M to modernize mom-and-pop transportation companies TechCrunch
Industry Reports
• Driving the Future
Policy
• Chandigarh municipal corporation panel mulls green tax on trucks
• India imposes restriction on public procurement from China, other neighbours
• E-invoicing of GST compulsory from Oct 1, with higher threshold
• Karnataka cabinet approves new industrial policy for 2020-2025
Industry
• Forex reserves climb $1.27 billion to record peak of $517.637 billion
• India best destination for foreign investment with high returns: Nitin Gadkari to EU investors
• Bank NPAs may rise 4 percentage points due to Covid pandemic: Reserve Bank of India
• RBI flags off fresh liquidity concerns for NBFCs
• China's economy seen growing 2.2% in 2020; weak demand, US tensions cloud outlook
• Sensex tumbles over 300 pts in early trade; Nifty slips below 11,150
• Rupee slips 23 paise to 74.98 against US dollar in early trade
• Covid-19 impact: 60% commuters in large UK cities rethinking public transport usage
Passenger Vehicle
• Maruti Suzuki Nexa commences bookings for new S-Cross petrol
• Ford obtains commitments to extend most of $5.35 bn of loans
• Tesla boss Elon Musk's desire for more nickel could be a non-starter
• Donald Trump greets Elon Musk as Tesla CEO flays 2nd stimulus package
• Halted amid lockdown; vehicle registration spikes in Delhi
• Fiat Chrysler workers sue company over bribes to their union
Commercial Vehicle
• Fare hike key to survival, say Bengal private bus operators
• Ashok Leyland delivers its modular AVTR trucks
Two Wheelers
• E-bikes give the two-wheeled market a jolt
• Honda sells over 11 lakh BS-VI two-wheelers, claims to be industry-first
Aftermarket
• Hertz to pay lenders $650 mln to resolve dispute over fleet reduction
• Rise in demand of women customers for used cars, claims Spinny
Auto Components
• CIE Automotive H1 profit slumps amid car industry slowdown
Auto Technology
• Auto tech company Veoneer's losses narrow, stands by outlook
Automotive
• Despite strong rural economy traction, Rakesh Jhunjhunwala cuts stake in Escorts
Oil & Lubes
• LNG spot prices hold steady, as surplus cargoes weigh
• Mexico moves to launch world's largest oil hedge
• Petrol, diesel prices remain unchanged across metros
• S-Oil expects refining margins to recover in Q3 as virus curbs ease
International
• Teslas China rival WM Motor considers Star Board IPO
• Car sharing firm Turos UK business rebounds after virus slows
• UK manufacturers more upbeat on outlook as fall in orders slows
• Thyssenkrupp will fall apart without steel, says Deputy Chairman
 
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