An all-electric hypercar from Rimac Automobili has set 23 acceleration and braking records in a single day. The $2.2-million car accelerated from zero to 400 kmph to zero in 29.93 seconds, beating previous record of 31.49 seconds. The Rimac also set records for 0-100 kmph time at 1.82 seconds, 0-200 kmph in 4.42 seconds, and 0-300 kmph in 9.23 seconds.

Reliance Jio is reportedly in talks with Tesla to build a captive private 5G network for its first factory in the country. The talks are at a preliminary stage and will proceed only if Tesla decides to set up its factory in India, sources told Financial Express. Private networks allow corporates to set up their own Wi-Fi and data network.

Billionaire Elon Musk-led electric carmaker Tesla has proposed setting up a factory in India to build electric cars for domestic sale and export, Reuters reported on Wednesday. The company, however, did not discuss lowering the import tax on electric cars. Senior Tesla executives are in India this week to meet government officials on Tesla's India entry, Reuters earlier reported.

Tesla is "serious" about its plans to set up a manufacturing base in India, the Minister of State for IT Rajeev Chandrasekhar told Reuters. "We have signalled to them that the government...is working together (and) will certainly make whatever ambitions...or investment objective they have in India a success," he added. Tesla executives held talks with officials in India this week.

Electric two-wheelers are expected to become costlier from June 1 this year as the government has slashed the subsidy under the FAME 2 scheme. The government has dropped the subsidy on electric two-wheelers to ₹10,000/kWh from the existing ₹15,000/kWh. The maximum subsidy cap has been reduced from 40% to 15% of the ex-factory pricing of eligible vehicles.

Tesla CEO Elon Musk said the automaker would probably pick a location for a new factory by the end of this year. When a journalist with The Wall Street Journal asked Musk if India was interesting, the Tesla CEO responded, "Absolutely". Tesla is "serious" about its plans to establish a manufacturing base in India, Union Minister Rajeev Chandrasekhar earlier said.

Bugatti revealed the design of its first residential project, a 42-storey skyscraper in Dubai with garage-to-penthouse car lifts, allowing homeowners to park their cars in their mansions and penthouses. The project will feature amenities like a beach area, a private pool, spa, fitness centre and private valet. Each apartment will have a unique shape with access to a curved balcony.

Rolls-Royce is planning to cut thousands of jobs in the company's civil aerospace, defence and power systems divisions, Bloomberg reported. About 10% of the company's 30,000-member workforce could be impacted by the job cuts. The move could come after the company hired consultants led by McKinsey & Co to advise it on streamlining operations.

Mahindra & Mahindra (M&M) is now among the top 25 automakers in the world with its highest-ever net profit of ₹10,282 crore in FY23. M&M currently occupies 22nd rank in profit, placed between Japan's Yamaha Motor and Mitsubishi Motors Corporation, Bloomberg data showed. Except for Tata Motors, no other Indian automaker had ever posted an over ₹10,000 crore net profit.

Bajaj Auto's Executive Director Rakesh Sharma said even though there are uncertainties in the EV market, "electrification is here to stay, with or without the subsidy". "A switch took place in India when petrol prices crossed ₹100," Sharma said, adding that customers now want "freedom" from the fluctuating fuel price and are ready to pay one-time high cost for EVs.

Tesla CEO Elon Musk on Tuesday met China's Foreign Minister Qin Gang during his first trip to the country in three years. According to a government statement, Musk said he's willing to expand Tesla's business in the country. The minister told Musk that China would create a better market-oriented business environment for companies from all countries, the statement read.

The transport sector contributes to 40% of the air pollution in the country, with 90% of this contribution coming from the road transport sector, Union Minister Nitin Gadkari said on Thursday. "As the transport minister, actually I am responsible for that," Gadkari stated, adding that the industry needs to develop greener fuel alternatives to reduce the problem.

In an interview, Tesla CEO Elon Musk said the automaker will have a "sort of ChatGPT moment" no later than next year. He clarified that the "ChatGPT moment" refers to the achievement where 3 million Tesla cars would be able to drive themselves without human intervention. The number will rise to 5 million and 10 million later, the billionaire added.

The world's first life-size Lego model of the luxury Ferrari Daytona SP3 sports car has been unveiled at Legoland Windsor in UK, and a video of the same has surfaced. The car is made from 4,02,836 Lego bricks, and it weighs over 1.5 tonnes. It took a team of builders and designers 2,000 hours to replicate the high-performance sports car.

China is the manufacturer of most EV batteries because it is ahead in mineral mining, training engineers and building factories. Other nations may take decades to catch up with China's pace. By 2030, China is reportedly expected to make twice the number of batteries as the rest of the world as it's the largest controller of cobalt, nickel and graphite.

Neha, wife of Indian-origin doctor who blamed his Tesla car after it plunged off a cliff in US in January, claimed her husband "purposely drove off", according to reports. "He's depressed...He said he was going to drive off the cliff," Neha reportedly told police after her rescue from crash site. She also told police her husband needs a "psych evaluation".

Himachal Pradesh government has set a target to transform the state into a 'Green Energy State' by March 2026. During a review meeting in Dharamshala, CM Sukhvinder Singh Sukhu discussed plans to encourage the use of electric vehicles. He also stressed the importance of identifying suitable locations for charging stations along the proposed three Green Corridors Highways in the state.

Toyota Research Institute CEO Gill Pratt has said battery electric vehicles (BEVs) cannot alone be the automobile sector's answer to climate change due to a lack of resources. He added that BEVs could make a positive difference in countries like Norway, which has a lot of renewable infrastructure. "Battery materials and renewable charging infrastructure will eventually be plentiful," Pratt added.

Ford CEO Jim Farley said on Thursday that Chinese electric vehicle makers are its main rivals in the sector, not GM or Toyota. "The Chinese are going to be the powerhouse," Farley stated, adding, "They are selling in high volume in Europe...How do you beat on them on cost if their scale is five times yours?"

Centre will hold back EV subsidies given under Phase-II of FAME scheme for Okinawa and Hero Electric over violation of norms, CNBC-TV18 reported. Approximately ₹1,100 crore was held back by the government. Centre's investigation into violation of norms by 17 firms is nearing completion and subsidy reimbursement will resume in two to three days.

Ford is recalling 4,22,000 SUVs in the US because the video output may fail, preventing the rearview camera image from displaying. This recall has expanded and replaced Ford's prior callbacks made in 2021 and 2023 over the same issue. The recall covers 2020 through 2023 Ford Explorer, Lincoln Aviator, and 2020-2022 Lincoln Corsair SUVs with a 360-degree camera.

The Centre is reportedly planning to come out with a modified production-linked incentive (PLI) scheme for electric vehicles and advanced chemistry cell batteries. The development comes after Reuters reported that Tesla has proposed a manufacturing plant in India. As per Financial Express, under the modified PLI scheme, the outlay may be increased and incentives can also be tweaked.

Hyundai and Kia will pay $200 million to settle a class-action lawsuit over cases of thefts of their brands' cars. Earlier, the brands said they would offer software upgrades to over 80 lakh vehicles to prevent thefts. The settlement covers about 90 lakh car owners and includes up to $145 million to cover losses for consumers whose cars were stolen.

Union Minister Nitin Gadkari has urged the automobile sector not to wait for the government's push and start preparing for the next generation of BS-7-compliant vehicles. He said auto firms should start their own research and keep a focus on making vehicles as per BS-7 norms. They should also go parallel to European counterparts, the minister added.

Electric scooter maker Ola Electric is planning a stock market listing by 2023-end and has appointed investment bank Goldman Sachs and domestic bank Kotak to manage the share sale, Reuters cited a source as saying. Backed by investors such as SoftBank Group and Tiger Global Management, Ola Electric was valued at $5 billion in its last fundraise in 2022.