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Egyptian state-owned carmaker El Nasr Automotive Manufacturing and Japan’s Nissan have reached an initial agreement to produce 100,000 cars a year in Egypt, the minister for public enterprises said on Tuesday. The agreement is part of efforts to boost the proportion of locally made auto components in cars assembled in…

General Motors Co said on Tuesday it would invest $2.7 billion in two Brazilian factories over the next five years, sparing them from a shakeup of the automaker’s operations, a decision hailed by the governor of Brazil’s largest state. Sao Paolo state Governor Joao Doria told a joint news conference…

Korean automobile major Hyundai and its subsidiary Kia have together invested USD 300 million in ride-hailing company Ola to jointly develop electric vehicles ecosystem and fleet services for global markets. Under the partnership, the three companies will also aim to develop electric vehicles (EVs) and charging infrastructure customised for Indian…

Valvoline Inc. – a leading worldwide supplier of premium branded lubricants and automotive services – announced today that is has acquired two quick lube locations in the Houston area, that are now operating as Valvoline Instant Oil Change SM (VIOC) service centers. A core element of Valvoline's strategy is to…

BMW AG and Mercedes-Benz said on Saturday they will lower their prices in China, after the government announced it will reduce the country’s value-added tax (VAT) starting on April 1. The German automobile companies each published posts on Chinese social media announcing immediate price cuts for several models. The discounts…

Luxury carmaker BMW and Germany’s Varta have both applied for state funding aimed at supporting battery cell production for electric vehicles, they said on Friday, hitting a deadline set by the German government. Germany has earmarked 1 billion euros ($1.13 billion) to support a consortium looking to produce electric car…

Toyota Motor Corp said on Thursday it will invest $749 million in five U.S. plants and add 586 jobs as it boosts engine production capacity and adds new hybrid models to its lineup. President Donald Trump has prodded Japanese automakers to add more jobs in the United States as the…

Tesla Inc unveiled its Model Y electric sports utility vehicle on Thursday evening in California, promising a much-awaited crossover that will face competition from European car makers rolling out their own electric rivals. Chief Executive Elon Musk said the compact SUV, built on the same platform as the Model 3,…

Honda Motor Co said on Tuesday it would recall 1.2 million Honda and Acura vehicles in North America to replace defective Takata airbags on the driver’s side. The company said here it was aware of one injury linked to the defect, which may have caused the airbag to rupture when…

German automaker Volkswagen said Tuesday it plans to ramp up its production of electric vehicles over the next ten years to 22 million and reduce its carbon footprint over vehicle life cycles by 30 per cent. Previously, the company said it would aim for 15 million. That was ambitious in…

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