automotive-industry
BusinessFord to Cut 14% of European Jobs, Blaming Ev Shift and Rising Competition
BusinessExclusive-In High-Wage Germany, VW’s Labour Costs Outstrip the Competition
BusinessVolkswagen Appoints Former Rivian Executive as Head of American Business
TechnologyStellantis Unveils Technology to Support Flexible Ev and Hybrid Auto Production
Central Europe to Feel Impact of Any US Tariff Hit to Germany
Date: November 14, 2024
By Gergely Szakacs BUDAPEST (Reuters) – If U.S. President-elect Donald Trump delivers on a pledge to hit European imports with tariffs, Hungary will feel the effects “exponentially” because of its German trade links, a top business leader said on Thursday. Germany is expected to be more affected by any U.S. tariffs than other euro area...
Porsche Se Earnings Down a Third as German Carmakers Struggle
Date: November 13, 2024
(Reuters) – Porsche SE’s earnings after tax fell a third, to 2.5 billion euros ($2.65 billion), in the first nine months of 2024, it said on Wednesday, weighed by the holding’s investments in carmakers Porsche AG and Volkswagen. European carmakers are facing multiple hurdles, including high production costs, weak demand, the shift to electric vehicles...
Volkswagen Investment Chief Steps Down From Northvolt Board
Date: November 12, 2024
STOCKHOLM (Reuters) -The head of investments at German auto maker Volkswagen is leaving the board of Sweden’s Northvolt, the Swedish battery maker said on Monday, confirming media reports. Northvolt told Reuters it expects Volkswagen to find a board replacement for Sven Fuhrmann, who has held a board seat since last year. The German group is...
Stellantis, Partner Leapmotor Scrap Plan to Make Second Ev Model in Poland, Sources Say
Date: November 11, 2024
SHANGHAI (Reuters) -Stellantis and its Chinese partner Leapmotor have scrapped a plan to make a second electric vehicle model at the European automaker’s plant in Poland, two people with knowledge of the matter told Reuters. The joint venture is instead considering using a Stellantis factory in Eisenach, Germany that produces Opel models and its Trnava...
Exclusive-Stellantis, Partner Leapmotor Scrap Plan to Make Second Ev Model in Poland, Sources Say
Date: November 9, 2024
SHANGHAI (Reuters) – Stellantis and its Chinese partner Leapmotor have scrapped a plan to make a second electric vehicle model at the European automaker’s plant in Poland, two people with knowledge of the matter told Reuters. The joint venture is instead considering using a Stellantis factory in Eisenach, Germany that produces Opel models and its...
Italy’s Brembo Still Ready for M&A After Ohlins Deal
Date: November 8, 2024
(Reuters) -Brembo’s acquisition of suspension technology manufacturer Ohlins Racing, its biggest ever, will not prevent the Italian premium brake maker from assessing further and larger M&A deals, its top executive said on Thursday. Brembo, which earlier on Thursday presented broadly stable results for the first nine months of this year, in October announced the $405...