Continental aims to improve the competitiveness of its automotive division and is seeking to save $427 million a year. Source: autonews.com … [Read more...]
Volvo's first van offers lineup-best range, link to landmark model
The boxy-looking Scandinavian living room on wheels will be aimed at China and Asia, where luxury vans are gaining in popularity. Source: autonews.com … [Read more...]
Ford's joint battery cell plant in Turkey is scrapped
The joint venture to create one of Europe's biggest battery cell plants has been scrapped because of the slow pace of electric vehicle adoption, Ford's Turkish partner Koc Holding said. Source: autonews.com … [Read more...]
How Toyota plans to lower emissions in Europe with BEVs, hybrids
Toyota Europe is ahead of its sales and profit targets, COO Matthew Harrison says, but big challenges lie ahead, including tougher EU CO2 limits and new entrants from China. Source: autonews.com … [Read more...]
China commerce minister discusses trade ties, EV and other issues with EU's Breton
China's Commerce Minister Wang Wentao raised China's concerns about the EU's anti-subsidy investigations over China's EV subsidies during "in-depth" discussions with the EU's industry chief Thierry Breton. Source: autonews.com … [Read more...]
Polestar 4 to be built in Renault plant in S. Korea from 2025
The move allows the Geely-controlled Polestar to avoid a steep 25 percent U.S. tariff imposed on China-built vehicles. Source: autonews.com … [Read more...]
VW aims to sell under-$35,000 EV to U.S. in 3-4 years
VW plans to build the under-$35,000 EV in the U.S. or Mexico, said Reinhard Fischer, senior vice president and head of strategy at VW Group of America. Source: autonews.com … [Read more...]
VW pursues its autonomous shuttle plans despite GM's Cruise troubles
VW’s ride-sharing shuttle service Moia is already being tested in the German cities of Hamburg and Munich and in Austin, Texas. Source: autonews.com … [Read more...]
EU set to weaken Euro 7 pollution standards after parliament vote
Euro 7 will replace the current Euro 6 standard, which governs emissions of health-harming pollutants from combustion engine cars Source: autonews.com … [Read more...]
Stellantis to extend life of van platforms as pickups move to STLA Frame
Light-commercial vans from brands including Citroen, Fiat, Opel and Peugeot will remain on their current platforms for cost reasons, executives said. Source: autonews.com … [Read more...]
VW pauses production at German EV plant
Due to a limited supply of electric motors, VW will halt the production of the Audi Q4 E-tron, the Audi Q4 Sportback E-tron as well as the VW ID 4 and VW ID 5 models in Zwickau. Source: autonews.com … [Read more...]
Honda lifts forecasts after profit jumps in U.S.
Honda's Executive Vice President Shinji Aoyama says that free-flowing supply of semiconductors is fueling the automaker’s production and sales while boosting profits. Source: autonews.com … [Read more...]
Nissan quarterly profit doubles on big gain in North America
Robust sales in North America help Nissan more than double its profit in the latest quarter as the automaker readies a new mid-term plan and shores up flagging fortunes in China. Source: autonews.com … [Read more...]
Saudi wealth fund raises stake in Aston Martin to over 20%
Aston Martin said Saudi Arabia's Public Investment Fund (PIF) had raised its stake in the automaker by 2.6 percentage points to 20.5 percent from 17.9 percent. Source: autonews.com … [Read more...]
Polestar trims delivery forecast, halves margin target
Polestar expects to achieve a gross margin of 2 percent in 2023, down from its prior 4 percent forecast. Source: autonews.com … [Read more...]
Renault's Ampere EV unit names leadership team ahead of listing
Renault Group CEO Luca de Meo will lead Ampere, which plans a stock market listing next year. Source: autonews.com … [Read more...]
Volvo's new European EV plant will use Tesla-style Giga Press
Volvo will build EVs at its new plant in Slovakia using Tesla supplier Idra's massive casting machines, which streamline production. Source: autonews.com … [Read more...]
Doug Del Grosso, supply chain turnaround veteran, to retire as Adient CEO
Doug Del Grosso, who took the top job in 2018, will resign effective Dec. 31 and give up his membership on the board. CFO Jerome Dorlack will step into the leadership role. Source: autonews.com … [Read more...]
India proposes slashing EV import taxes in U.K. free-trade deal, report says
New Delhi is said to consider a concessional tariff of 30 percent on 2,500 EVs imported annually from the U.K. priced above $80,000, as opposed to current levies of between 70 percent and 100 percent. Source: autonews.com … [Read more...]
Continental hikes car market forecast, warns on 2024 outlook
While Continental adjusted its expectations for sales growth to 5-7 percent, from 3-5 percent previously on the back of higher prices, lower inventory and stabilized supply chains, it said it shared S&P Global's forecast of just 1-3 percent growth in light vehicle sales next year. Source: autonews.com … [Read more...]