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Stellantis’ Battery Plans Take Shape in Italy, Canada
Date: March 23, 2022
By Giulio Piovaccari and Steve Scherer MILAN/OTTAWA (Reuters) -Stellantis took significant steps in its battery production plans in Europe and North America on Wednesday as carmakers race to meet rising demand for electric vehicles. The company said its Automotive Cells Company (ACC) joint venture with Mercedes-Benz and TotalEnergies would build a battery plant in Italy...
Tesla Rolls Out First Vehicles as German Gigafactory Goes Live
Date: March 22, 2022
By Victoria Waldersee BERLIN (Reuters) -Tesla will on Tuesday deliver to customers the first 30 Model Y cars made at its 5 billion euro ($5.5 billion) Gruenheide plant, launching its first European production hub that is the biggest investment in a German car factory in recent history. Chief Executive Elon Musk arrived in Berlin on...
Bmw to Prioritise EVs Amid Ukraine Crisis, Chip Troubles
Date: March 16, 2022
By Victoria Waldersee and Christina Amann BERLIN (Reuters) -BMW cut its car division’s 2022 profit margin forecast on Wednesday and said it expected the chip crisis to drag on throughout the year, the latest automaker to warn of supply chain disruptions exacerbated by Russia’s invasion of Ukraine. The German carmaker, which sold a record 2.52...
Bmw Joins Other Carmakers in Ukraine Crisis Output Warning
Date: March 16, 2022
By Victoria Waldersee and Christina Amann BERLIN (Reuters) -BMW cut its car division’s 2022 profit margin forecast on Wednesday, the latest automaker to warn of problems from ongoing chip shortages and new supply chain disruptions as a result of Russia’s invasion of Ukraine. It now expects an earnings before interest and taxation (EBIT) margin of...
Global Carmakers Raided by EU and UK Antitrust Regulators
Date: March 15, 2022
By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators on Tuesday raided several automotive companies and associations in several countries on suspicion of breaching the bloc’s cartel rules. The European Commission also sent companies requests for information, it said without disclosing company names. “The inspections and requests for information concern possible collusion in relation...
Ukraine War Throws Vw Outlook Into Question, CEO Warns
Date: March 15, 2022
By Victoria Waldersee and Miranda Murray BERLIN (Reuters) -A lack of wiring harnesses from Ukraine has overtaken a shortage of semiconductors as Volkswagen’s biggest supply chain headache as the Russia-Ukraine war clouds its prospects for this year, the world’s No.2 carmaker warned on Tuesday. Rising raw material costs will drive up prices for both electric...