Tag: Automotive

South Korean conglomerate Hyundai will announce a $20 billion investment in U.S. onshoring that includes a $5 billion steel plant in Louisiana, according to people familiar with the plans.

NIO’s fourth-quarter net loss unexpectedly widened as higher costs outpaced sales growth after the carmaker launched two subbrands last year amid intensifying competition in China’s electric-vehicle market.

Volkswagen’s Audi luxury brand has announced it will cut thousands of jobs over the next few years, in the latest sign of trouble in Germany’s auto sector.

Automaker Stellantis is investing 38 million euros ($41 million) in its Verrone plant in Northern Italy to manufacture parts for electric engines for its upcoming small-size models, it said on Monday.

BMW Group will integrate Huawei HiCar, the Chinese tech conglomerate’s car mobile app connecting devices with vehicles, into its locally produced new models in 2026, the German automaker said on Monday.

German luxury carmaker BMW posted a steep drop in profit last year due to weakening sales in China and technical problems with braking systems.

Stellantis and Iveco said on Friday they have agreed for the automaker to supply the Italian truckmaker two fully-electric (EV) van models, helping Iveco further expand its EV van range in Europe.

Chinese plug-in hybrid specialist Li Auto reported lower net profit for the fourth quarter despite record revenue as a brutal price war hurt its bottom line.

Porsche AG plans to cut thousands of jobs over the coming years as part of a plan to become more efficient as it warned that investments and costs of reshaping the company will hit earnings this year.

Αύξηση 5% κατέγραψαν τα κέρδη μετά φόρων της Autohellas το 2024 σε ετήσια βάση και διαμορφώθηκαν στα 89,5 εκατ. ευρώ, καταγράφοντας νέο ιστορικό υψηλό για 4η συνεχόμενη χρονιά, σύμφωνα με τη σχετική ανακοίνωση.

Nissan said Tuesday that Ivan Espinosa, its chief planning officer, would take the helm from April 1, ending weeks of speculation over who will succeed Makoto Uchida as leader of the troubled Japanese carmaker.

Volkswagen AG concluded 2024 with lower operating results but slightly increased sales revenue. The carmaker presented its plans to navigate the challenges coming from the US and China, but they haven’t factored in tariffs for 2025.

Ford will inject up to 4.4 billion euros ($4.76 billion) into its struggling German operations as it tries to revive its European business, the U.S. carmaker said on Monday.

Volkswagen will recall 177,493 crossover SUVs in the United States over concerns related to a loose engine cover, the National Highway Traffic Safety Administration said on Friday.

US President Donald Trump is exempting the automakers from 25% tariffs for one month after negotiating with major industrial leaders. Auto stocks rose following the news.

Avride has partnered with Hyundai Motor Co to expand its fleet of robotaxis, and signed a deal with the South Korean automaker to jointly develop and operate self-driving vehicles, the companies said on Wednesday.

Shares in European carmakers and automotive suppliers fell sharply on Tuesday, after U.S. tariffs of 25% on imports from Mexico, a major centre for the sector to supply the American continent, took effect.

Valeo shares fell sharply after the company said carmaker customers canceled orders worth billions of dollars and delayed new ones in response to economic and technological uncertainty.

Rolls-Royce shares surged to an all-time high on Thursday after the company resumed shareholder payouts, raised midterm guidance and launched a 1 billion-pound ($1.27 billion) buyback.

Aston Martin said it plans to reduce its global workforce by 5% as part of a cost-savings program and pushed back the launch of its first fully electric car.