TOKYO – Toyota is growing abroad manufacturing to offset decrease output at house in Japan. From January to June, the automaker constructed extra vehicles abroad than it ever has throughout that interval. And it capped the run by notching report abroad gross sales and manufacturing outcomes for the month of June, because the automaker progressively
Europe
Jaguar Land Rover reported a quarterly loss earlier than tax of 524 million kilos ($632 million), in contrast with a lack of 110 million kilos a yr earlier. Quarterly income fell 11 p.c from a yr earlier, primarily on account of a weaker mannequin combine, inflation and adversarial foreign money actions. The extended semiconductor scarcity,
BERLIN — Mercedes-Benz expects a major rise in revenues and barely increased earnings in 2022 on the again of robust automobile costs and mannequin combine at the same time as the corporate warned of financial turbulence as a result of Europe’s worsening vitality disaster, excessive inflation and protracted supply-chain issues. The corporate on Wednesday raised
BMW Group has promoted the previous head of Mini Germany, Ulrike von Mirbach, to assist lead the model towards electrification as head of its Europe area. BMW has mentioned that Mini will turn into an all-electric model from the start of the 2030s. “I’m satisfied that Ulrike von Mirbach will efficiently lead the Mini model
MILAN — Silk-FAW, a start-up of U.S. automotive engineering and design agency Silk EV and Chinese language automaker FAW, stated it might press forward with a plan, price over one billion euros ($1.02 billion), to construct electrified automobiles in Italy. Silk-FAW will finalize the acquisition of the land within the metropolis of Reggio Emilia the
It says lots in regards to the state of the auto trade and the place it is going that software program issues have price the CEO of an automaker his job. Volkswagen Group ousted Herbert Diess as CEO on Friday after extreme software program growth delays set again the scheduled launch of key new Porsche,
FRANKFURT — Schaeffler has agreed to purchase Sweden’s Ewellix Group from funding firm Triton for about 582 million euros ($594 million), the German provider stated in a press release. Schaeffler stated the acquisition continues the enlargement of its industrial division and is predicted to raise earnings in 2024. Ewellix, which makes parts together with telescopic
STOCKHOLM — Autoliv’s second-quarter adjusted working revenue fell 25 % to $124 million. Earnings have been hit by lockdowns in China, uncooked materials value will increase, foreign money actions and unstable automotive manufacturing, the Swedish provider of airbags and seat belts stated in an announcement on Friday. Quarterly income rose 2.9 % to $2.08 billion,
Volkswagen Group’s dramatic transfer to oust its combative CEO, Herbert Diess, was set in movement per week in the past, when his backing from the billionaire Porsche and Piech household started to crumble. Unwavering assist from the reclusive clan that majority-owns VW had helped Diess survive frequent clashes with highly effective employee representatives. However as
Volkswagen veteran Oliver Blume, who will succeed Herbert Diess as VW Group on Sept. 1, has labored on the multibrand automaker for his entire profession. Born in Braunschweig, Germany, close to VW’s Wolfsburg headquarters, Blume, 54, joined Audi’s worldwide trainee program in 1994 after learning mechanical engineering at college. He specialised in manufacturing planning and
FRANKFURT — The appointment of Oliver Blume as the subsequent boss of Volkswagen Group heralds a change in administration model that’s anticipated to exchange the erratic and unpredictable angle of his predecessor with a extra team-based tradition. An extended-time Volkswagen government who joined the carmaker in 1994, the 54-year-old Blume has hammered residence the significance
FRANKFURT — Volkswagen Group CEO Herbert Diess is stepping down and shall be succeeded by Porsche boss Oliver Blume. Diess is resigning “by mutual settlement,” VW mentioned on Friday. Blume will proceed his function as the pinnacle of the Porsche model, flanked by VW’s present Chief Monetary Officer Arno Antlitz, who will assume the place
Baidu unveiled a brand new model of its self-driving robotaxi that it says prices almost half as a lot to make because the earlier mannequin, opening the chance for cheaper journey. Apollo RT6 robotaxis are set to be mass-produced at a price of 250,000 yuan ($37,000) per unit, the Chinese language search-engine big stated on
Ford Motor plans so as to add a brand new battery cell chemistry to its electrical car portfolio to extend capability and make them cheaper to construct. The automaker plans so as to add lithium iron phosphate cells to the Mustang Mach-E subsequent 12 months and to the F-150 Lightning in early 2024, a transfer
Ford Motor is getting ready to chop as many as 8,000 jobs within the coming weeks because the automaker tries to spice up income to fund a push into the electric-vehicle market, based on folks acquainted with the plan. The eliminations will come within the newly created Ford Blue unit liable for producing inside combustion
MADRID — Spain has signed a partnership settlement with Chinese language inexperienced power firm Envision Group to embark on 4 initiatives, together with an EV battery plant, with 3.8 billion euros ($3.9 billion) in whole funding, partly funded by European Union support. Jose Dominguez, head of Envision Spain, was quoted in an announcement from the
Volkswagen Group of America CEO Scott Keogh will go away the model and take over as the primary CEO of the German automaker’s new Scout electrical car model. Pablo Di Si, who has headed VW’s South American area, turns into CEO of Volkswagen Group of America and CEO of Volkswagen North American Area. Keogh, 53,
MADRID — Mercedes-Benz plans to take a position 1.2 billion euros ($1.23 billion) in its Vitoria plant in northern Spain after staff backed a brand new labor settlement, unions UGT and CCOO mentioned. About 57 p.c of the plant’s almost 5,000 staff voted in favor of a deal that defines working situations and pay raises
PRAGUE — Automakers might want to modify their manufacturing methods to account for a relentless stream of disruptions affecting every little thing from provide chains to product distribution, Toyota Europe’s government vice chairman for manufacturing, Marvin Cooke, stated. “We’ve got been by an unprecedented interval of challenges, and the earlier normality is gone,” Cooke stated
PRAGUE — Hyundai plans to launch a full-electric, entry-level automotive in Europe – simply not but. The automaker is engaged on a battery-powered minicar, however it’s going to take a while to develop a production-ready model, stated Hyundai Motor Europe’s advertising chief, Andreas-Christoph Hofmann. Automakers in Europe are growing reasonably priced small electrical automobiles as
Saudi Arabia’s PIF sovereign wealth fund will change into the second-largest shareholder of Aston Martin with an almost 17 % stake in a capital elevate aimed toward paying off debt and shoring up its enterprise. Aston Martin mentioned it deliberate to lift 653 million kilos ($773.15 million) by PIF’s 78 million pound funding and a
European passenger automobile gross sales fell 17 % in June to 1.07 million, the bottom month-to-month tally since 1996 as persistent provide chain snarls and document inflation afflict the business. Volkswagen Group was the hardest-hit main automaker, with registrations dropping 24 % from a 12 months in the past, in line with knowledge revealed on
Volkswagen Group’s newly shaped battery enterprise is working to beat supply-chain headwinds because it ramps up manufacturing and prepares for an preliminary public providing. PowerCo, which bundles the automaker’s world battery efforts, is attempting to safe uncooked supplies amid surging costs and logistics points, in accordance with the unit’s Chief Monetary Officer Kai Alexander Mueller.
PRAGUE — Using hydrogen is a viable different to battery-powered automobiles within the race to cut back car emissions, however trade observers acknowledge that rather more must be accomplished in constructing infrastructure, educating customers and governments, and maturing the expertise. At Automotive Information Europe’s congress in Prague on Thursday, Guido Dumarey, CEO of Punch, Joanna
SHANGHAI/BEIJING — Volkswagen will stick with its objective of doubling gross sales of its ID electrical autos this 12 months regardless of COVID-19 disruptions, with its China chief, Stephan Wollenstein, calling the goal “promising.” The ID sequence, which VW produces at its Chinese language joint ventures with SAIC Motor and FAW Group, is driving the
BRUSSELS — The European Fee has accepted a 5.4-billion-euro ($5.4 billion) hydrogen venture collectively funded by 15 EU nations and 35 corporations together with Alstom and Daimler, to spice up the bloc’s competitiveness and financial system. Known as IPCEI Hy2Tech, the venture hopes to draw one other 8.8 billion euros in non-public investments. The 27-country
Aston Martin is closing in on a deal to lift over 500 million kilos ($589 million) by bringing in Saudi Arabia’s sovereign wealth fund as a significant shareholder and launching a rights challenge for traders, the Monetary Occasions reported. The proposal will lead to Saudi’s Public Funding Fund (PIF) investing as much as 200 million
PRAGUE — Nissan may have had a valuation just like Tesla’s if it had caught with its electrification program, former Nissan government Andy Palmer mentioned. Palmer, now working with a number of electrical startups, led the event of the Leaf, Nissan’s first full-electric automotive, which launched in 2011. The compact hatchback was thought to be
Nineteen younger and proficient automotive executives on Wednesday obtained their Rising Star awards from Automotive Information Europe at a gala awards dinner in Prague. Because the program was began in 2011, Automotive Information Europe has awarded greater than 220 Rising Stars. The twelfth annual Rising Stars awards acknowledge fast-climbing auto leaders who’re already taking large
Polestar elevated gross sales of its electrical automobiles by 125 % to 21,200 through the first half, almost matching its full-year quantity from final 12 months. The Volvo Vehicles EV subsidiary, which joined the Nasdaq final month in an $890 million deal, bought 29,000 automobiles final 12 months and goals to extend that whole to
- « Previous Page
- 1
- 2
- 3
- 4
- 5
- 6
- …
- 41
- Next Page »