Toyota Motor is exploring the possibility of investing in a potential buyout of Toyota Industries, Reuters reported April 27. “We are currently exploring various possibilities, including partial investment,” the Japanese automaker confirmed in a regulatory filing with the Tokyo Stock Exchange on April 26. Meanwhile, a report from Bloomberg on April 25 said that Akio Toyoda, chairman of Toyota Motor, and his founding family have proposed to acquire Toyota Industries for ¥6 trillion (...

Changan Automobile, a leading Chinese vehicle manufacturer, has chalked out three key strategies as part of its mid-to-long term roadmap, the company announced April 27 at the ongoing Auto Shanghai 2025. Changan said its three key strategies include Shangri-La Mission, Dubhe Plan and its Vast Ocean Plan, covering the expansion of its new-energy vehicle (NEV) portfolio, global footprint, and new investment in intelligent driving technologies and innovations. Under its Shangri-La Mission, Ch...

US President Donald Trump’s administration has launched a formal investigation into semiconductors and semiconductor manufacturing equipment (SME), and their derivative products imports under Section 232 of the Trade Expansion Act of 1962, signaling potential new tariffs on chips amid growing concerns about US dependency on foreign suppliers, Reuters reported on April 15, citing Federal Register filings on April 14. The Federal Register filings indicated that the probe began April 1 and is ...

US President Donald Trump has announced plans to introduce a tariff rate on imported semiconductors within the coming week, indicating a shift from previously announced exemptions for smartphones and computers, according to a report published by Reuters on April 14. "We wanted to uncomplicate it from a lot of other companies, because we want to make our chips and semiconductors and other things in our country," Trump said, according to the report. Despite not providing specifics on potenti...

At its CEO Investor Day in Seoul, South Korea, on April 9, Kia Corp. revealed its updated Plan S strategy, setting ambitious goals for the mid-to-long term, including achieving global sales of 4.19 million units by 2030, with 2.33 million of these being hybrid and electric vehicles. Kia's strategy emphasized diversification with the introduction of new models such as purpose-built vehicle (PBVs) and pickup trucks. Ho Sung Song, Kia's CEO, emphasized the company's transformation since 2021 toward...

The European Automobile Manufacturers’ Association (ACEA) has urged the European Commission to seek a constructive dialogue with the US on the imposed tariffs of automobile imports and certain automotive components, ACEA said in a statement on April 7. The industry lobby has also urged the commission to negotiate conditions for mutually beneficial trade with the US and avoid any countermeasures that could put Europe’s manufacturing competitiveness at risk amid widening global trade tensio...

The executive board of Continental has decided to spin off its ContiTech group sector business into an independent company, the Germany-based company said in a press release on April 8. The company has kicked off the preparatory phase, which it said would involve “analyzing and assessing the possible transaction forms for independence and drawing up a timetable for implementation.” ContiTech is expected to become an independent company by 2026. ContiTech develops and produces rubber and p...

On March 5, the European Commission rolled out an ‘Industrial Action Plan’ to define a framework that can help ramp up Europe’s research and development (R&D) and industrial capacities amid global transition to zero emission vehicles (ZEVs). The Action Plan focuses on key technology areas such as battery and battery material supply chain, autonomous and connected car tech, software and hardware, charging infrastructure among several others. The Action Plan aims to further build on t...

Hyundai Motor Group has introduced its new mobility software brand Pleos at the Pleos 25 developer conference in Seoul, South Korea, marking a pivotal shift toward becoming a mobility technology company. Pleos aims to enhance the in-vehicle app ecosystem and mobility experiences by integrating software-defined vehicles (SDVs) with Hyundai's next-generation infotainment system. Chang Song, president of Hyundai Motor and Kia's Advanced Vehicle Platform Division, highlighted Pleos' role in ach...

Announcing its revised electrification strategy on March 18, Japanese carmaker Mazda Motor Corp. said that it would focus on offering multiple powertrain options, including efficient gasoline engines, fully electrified and hybrid propulsion systems, along with forging key partnerships and reducing investment requirements to enhance competitiveness in the mid-to-long term. The revised 2030 management strategy was announced on the sidelines of the Mazda Multi-Solution Briefing in Tokyo. &n...

OPmobility, formerly known as Plastic Omnium, has reported results for the financial year ended Dec. 31, 2024. The company recorded a 2.2% year-over-year increase in economic revenue to €11.6 billion, mainly driven by the Modules and Exterior business segments. Consolidated revenue, which does not include OPmobility’s share of revenue from joint ventures, improved 1.6% year over year to €10.5 billion.    The company’s economic revenue remained stable at 2023 level in Europe ...

The BMW Group has introduced an innovative advancement in the automotive industry with its digital nervous system designed for the Neue Klasse, marking a significant first. This system encompasses four high-performance computers, referred to as "superbrains," which are allocated to handle key customer functions: the Brain of Panoramic iDrive for infotainment, the Brain of Automated Driving for driving assistance, the Heart of Joy for driving dynamics, and the Core Brain responsible for managing ...

The Schaeffler Group has reported an 11.5% year-over-year increase in revenue to €18.2 billion in the financial year ended Dec. 31, 2024. At constant foreign exchange rates, the company’s full-year revenue was up 12.9% year over year. The Germany-based supplier attributed the strong growth in revenue to consolidation of Vitesco Technologies, acquired in 2024. Despite the revenue growth, earnings before interest and tax before special items declined 31.6% year over year to €811 mill...

In his first address to Congress in his second term, President Trump urged lawmakers to eliminate the CHIPS Act, stating that semiconductor companies are already investing in US manufacturing without government incentives. Trump pointed to Taiwan Semiconductor Manufacturing Co. Ltd.'s (TSMC) newly announced $100 billion expansion in Arizona, which includes three semiconductor fabrication plants, two packaging facilities, and a research and development center, as an example of private-sector inve...

Continental has reported a 4.1% year-over-year decline in consolidated sales to €39.7 billion in the financial year ended Dec. 31, 2024. Despite lower sales, the Germany-based supplier recorded 10.3% year-over-year growth in EBITDA to €4.5 billion, equivalent to 11.3% of sales, and 23.4% year-over-year growth in earnings before interest and tax to €2.3 billion, equivalent to 5.8% of sales. Continental concluded the financial year with a 1% year-over-year increase in net income to €1.2 bi...

Clarios, a Wisconsin-based leader in low-voltage energy storage, has unveiled a $6 billion initiative aimed at bolstering US manufacturing and enhancing the supply chain for starter batteries. This move is crucial for ensuring US energy and critical mineral independence. Significant investments include $2.5 billion toward developing low-critical mineral battery chemistries, $1.9 billion for boosting the US' circular battery economy, $1 billion to accelerate the development of advanced energy ...

Geely Auto, the second-largest car manufacturer in mainland China, announced plans to integrate its proprietary AI-powered pilot system into vehicles across all its brands, including Galaxy, Zeekr and Lynk, according to a report published by South China Morning Post on March 4. During a virtual briefing on March 3, the company revealed that its G-Pilot technology will enable cars to navigate highways and perform self-parking functions. This initiative positions Geely as the second major carmaker...

Forvia’s sales declined 1% year over year to €27 billion in the financial year ended Dec. 31, 2024, the French supplier said in a press release. Organic sales, at constant scope and currencies, increased 0.4% year over year in a challenging business environment, when global vehicle production fell 1.1% to 89.5 million units. At €1.4 billion, operating income was down 2.7% from €1.4 billion and equivalent to 5.2% of sales compared to 5.3% in 2023. The company concluded the financial ye...

Valeo’s sales declined 2.5% year over year to €21.5 billion in the financial year ended Dec. 31, 2024, the French supplier said in a press release. On a like-for-like basis, the company’s sales decreased 0.5%. Original equipment (OE) sales declined 4% year over year to €17.95 billion and was equivalent to 84% of Valeo’s total sales in 2024. At €2.3 billion, aftermarket sales remained stable at the 2023 level and accounted for 11% of the company’s total sales during the fi...

In a meeting with President Xi Jinping that centered on discussions with private sector entrepreneurs, Huawei's founder, Ren Zhengfei, conveyed that China's concerns over the absence of domestically produced chips and operating systems had been alleviated, according to a report by Reuters on Feb. 21, which cited Chinese state media People's Daily. The meeting, reported by the People's Daily, featured talks from prominent Chinese business founders including Ren Zhengfei of Huawei, Wang Chuanfu of...

Visteon has reported 2024 full-year net sales of $3.87 billion, down 2.2% from 2023. Gross profit for the full year was $531 million while net income was $274 million or $9.82 per diluted share. Net income declined nearly 44% compared to the prior year due primarily to the non-cash tax benefit. Adjusted EBITDA was a record $474 million and increased $40 million compared to the prior year. The increase primarily reflects the impact of strong operational performance, cost discipline and lower year...

Magna’s net profit declined 16.8% year over year to $1 billion in the financial year ended Dec. 31, 2024. Sales improved slightly by $39 million to $42.8 billion. The Canadian supplier recorded income from operations before income taxes of $1.5 billion, down 4% year over year from $1.6 billion in the previous financial year. Adjusted earnings before interest and taxes at $2.3 billion was 4% up year over year from $2.2 billion recorded in 2023. The company’s full-year sales benefited from ...

Munich-based battery material recycling startup Tozero has successfully completed a battery cell test using 100% recycled graphite at industrial scale, achieving a major breakthrough in Europe, the company announced Feb. 13. The startup claimed that it is the first to achieve this at an industrial scale in Europe, where mostly, other companies have only achieved limited or lab-scale success in the battery recycling space. The development proves the viability of graphite as an anode material f...

Dongfeng Motor and Changan Automobile, two of China's state-owned automotive giants, have concurrently announced plans for reorganization, sparking speculations of a potential merger that could result in one of the world's largest auto groups. Despite the absence of direct mentions of one another in their announcements, local media, especially a report by 36kr, suggests that a merger is imminent, with Dongfeng poised to take a leading role in the newly formed group. This speculation is further s...

Chinese auto brands are actively incorporating AI into their vehicles, specifically through collaborations with the AI startup DeepSeek, to enhance smart driving capabilities. Baojun, a brand under the SAIC-GM-Wuling Automobile joint venture involving General Motors (GM) and SAIC Motor, has announced the completion of integrating DeepSeek's R1 large language model into its Lingyu Smart Cockpit, which is now featured in the Xiangjing series. Future models such as the Yunhai and Yueye Plus...

BYD has launched an automated system named God's Eye, developed internally by BYD, which is set to be installed across its entire model range, including the affordable Seagull hatchback, priced at 70,000 yuan (about $9,600). God's Eye offers advanced features such as remote parking via smartphones and autonomous overtaking, which were previously exclusive to high-end electric vehicles.  Installation of the God’s Eye system “filled the void” in the self-driving market for vehic...

On Feb. 10, US President Donald Trump signed an executive order to impose a 25% tariff on all steel and aluminum imported into the US without any exceptions or exemptions. The new tariffs will become effective from March 4, 2025. Steel and aluminum are the two most widely used raw materials in the production of a diverse range of products, from consumer appliances such as refrigerators and washing machines to cars and trucks. In vehicles, automakers use 900 to 1,400 kg of steel in the product...

Lear has reported an 11.5% year-over-year decline in net income to $506.6 million in the financial year ended Dec. 31, 2024, as net sales fell marginally to $23.3 billion. The US-based automotive seating and e-systems supplier recorded consolidated income before income taxes and equity in net income of affiliates of $739.2 million, down 5.7% year over year from $777.2 million in 2023. The company reported a $24 million drop in its core operating earnings to $1.1 billion. The company recorded ...

Toyota Motor Corp. is set to start operations at its first in-house battery manufacturing plant outside Japan, the Toyota Battery Manufacturing North Carolina (TBMNC). Set to begin production in April, this nearly $14 billion facility will produce batteries for hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs) and battery-electric vehicles (BEVs). The plant, located in North Carolina, US, is expected to create approximately 5,000 jobs, reinforcing Toyota's commitment...

As reported in a press release on Feb. 4, Waabi has formed a strategic partnership with Volvo Autonomous Solutions to jointly develop and deploy autonomous trucks, combining Waabi's generative AI technology with Volvo's expertise in automation and safety. The collaboration aims to make the freight transportation industry safer, more efficient and sustainable. Waabi, led by Founder and CEO Raquel Urtasun, plans to integrate its AI technology directly into original equipment manufacturer vehicl...

In a press release on Feb. 4, Infineon has reported its first quarter of the fiscal year 2025 revenue at €3.424 billion, compared to €3.70 billion in the first quarter of 2024, with a segment result of €573 million, which translates to a segment result margin of 16.7%. Revenue in the Automotive segment decreased from €2,149 million in the final quarter of the 2024 fiscal year to €1,919 million in the first quarter of the 2025 fiscal year. The 11% decline in revenue was primaril...

Honda is gearing up to begin manufacturing electric vehicles at the Honda EV Hub in Ohio, US, later in 2025. The Japanese automaker is investing $1 billion in retooling its Marysville Auto Plant (MAP), East Liberty Auto Plant (ELP) and Anna Engine Plant (AEP). The investment will allow Honda to build internal combustion engine (ICE) vehicles, hybrid-electric vehicles and battery-electric vehicles (BEVs) on the same production lines. "The Honda EV Hub provides Honda with the flexibility to pro...

In an effort to bolster domestic manufacturing of lithium-ion (Li-ion) batteries and advance electric vehicle technology, the Indian government, under Finance Minister Nirmala Sitharaman's announcement during the Budget 2025 speech, will extend basic customs duty (BCD) exemptions to 35 additional capital goods essential for producing EV batteries. These include crucial raw materials such as cobalt powder, waste cobalt, scrap from Li-ion batteries, lead, zinc and 12 other critical minerals. ...

SKF Group has reported a 5% year-over-year decline in net sales to 98.7 billion kronor (about $9 billion) in the financial year ended Dec. 31, 2024. Organic sales fell by 5.4% year over year. Lower sales impacted SKF’s earnings during the financial year, with operating profit decreasing 6.7% year over year to 10.3 billion kronor and profit before tax declining marginally to 9.1 billion kronor. The company reported adjusted operating profit of 12.2 billion kronor, down 6.1% year over year, w...

Autoliv has recorded a 32% year-over-year increase in net income to $489 million in the financial year ended Dec. 31, 2024, despite witnessing a 0.8% year-over-year decline in net sales to $10.4 billion. The Sweden-based safety systems supplier recorded a 42% year-over-year growth in operating income to $979 million, which also drove up its operating margin by 280 basis points to 9.4%. Adjusted operating income at slightly over $1 billion was 9.5% year over year more than $920 million recorde...

Toyota Motor Europe has signed an agreement with Hydrogen Refueling Solutions (HRS) and global energy company ENGIE to roll out the next generation hydrogen refueling systems, the Japanese carmaker’s European unit announced Jan. 28. The newly developed hydrogen refueling solution will be piloted in an EU-funded RHeaDHy project that focuses on accelerating infrastructure deployment, the company said. The EU-funded RHeaDHy project stands for refueling heavy duty with very high flow hydroge...

On Jan. 29, American Axle & Manufacturing (AAM) signed a definitive agreement to acquire Dowlais Group in a cash and stock deal, valuing the UK-based company at about $1.44 billion. Dowlais Group is the owner of GKN Automotive, a leader in automotive drive systems, and GKN Powder Metallurgy, a leading supplier of sintered metal products and manufacturer of atomized metal powder.  The acquisition will create a leader in global driveline and metal-forming supply with a comprehensive an...

DeepSeek, a Chinese AI startup, has unveiled advancements that are shaking up the global AI landscape, particularly in the automotive sector. By leveraging software to optimize its large language model performance, DeepSeek has created a technological workaround to the restrictions placed on Nvidia's chips, notably the H1000. This development signals a potential game changer for the deployment of Level 4 (L4) autonomous vehicles and robo-taxis, which heavily rely on cloud computing infrastructur...

The US Energy Department (DOE) has launched a new funding program for advanced vehicle research and development with an intent of promoting innovative transportation solutions for on- and off-road vehicles, the US DOE office announced Jan. 17. The new program has an outlay of up to $88 million and will cover fiscal year 2025 via DOE’s Vehicle Technologies Office (VTO). The DOE's notice of funding opportunity states 10 focus areas that are expected to not only advance affordable and relia...

South Korean battery manufacturer SK On has achieved a research breakthrough in the development of its all-solid-state batteries (ASSBs) in one of its research projects that was conducted in collaboration with renowned South Korean universities, the company said Jan. 13. The research and development breakthrough came in the form of using photonic sintering technology in the production of the solid electrolytes essential for the development of ASSBs. SK On said that a joint R&D projec...

President Biden on Tuesday (Jan. 14) announced strong and decisive actions to safeguard the US connected vehicle supply chains against any potential security risks by the People’s Republic of China (PRC) and the Russian Federation (Russia). The White House, in a fact sheet titled "Safeguarding America from National Security Risks of Connected Vehicle Technology from China and Russia", said, “The Biden-Harris Administration is committed to ensuring that our automotive supply chains are res...

Lyten, the California-based material applications company, has received multiple letters of interest from the Export-Import Bank of the United States (EXIM) in support of a funding package of up to $650 million, the company announced Dec. 18. The new funding support is aimed at expanding Lyten’s lithium-sulfur battery manufacturing capacity in Silicon Valley in California and Reno in Nevada, as well as to help fund the company deliver its lithium-sulfur batteries to international customers....

Hyundai Motor Group (HMG) is extending its partnership with Google to deliver more advanced navigation and infotainment systems in its next-generation vehicles, sold by Hyundai, Kia and Genesis brands. This partnership will integrate Google Maps Platform's Places API, providing drivers with detailed information on over 250 million global locations directly through their vehicle's systems. This integration aims to improve navigation accuracy with up-to-date information on business hours, ...

The European Commission has launched two new calls for proposals with a budget of €3.4 billion to accelerate the deployment of innovative decarbonization technologies in Europe, it said in a press note on Dec. 3. The calls for proposals also include electric vehicle batteries, an area critical for achieving net-zero ambitions even as the region continues to remain dependent on Greater China. The commission has also launched the second auction of the European Hydrogen Bank to accelerate the ...

QuantumScape Corp., a Volkswagen-backed solid-state battery technology company, announced Dec. 5 that its in-house-developed heat treatment equipment for its separator production process, named Cobra, has been developed, delivered, installed and released for initial separator processing. According to the company, achieving this milestone on schedule puts it on track to deliver higher-volume samples of its first planned commercial product, QSE-5, in 2025, which is a major step toward the comme...

Europe’s largest carmaker Volkswagen (VW) has extended its joint venture agreement with SAIC Motor until 2040 in Greater China, securing the strategic partnership for a longer duration as it realigns its approach in the world’s largest electric vehicle market, VW announced Nov. 27. The original JV agreement between VW and SAIC was valid until 2030. The extension of this partnership with SAIC not only strengthens the 40-year collaboration between the two companies but is also aligned wi...

Novonix Ltd., a leading Australia-based battery materials company, has signed a binding offtake agreement with PowerCo SE, Volkswagen’s battery division, to supply the latter with a minimum of 32,000 metric tons of high-performance synthetic graphite material, Novonix announced Nov. 25. Novonix is slated to supply the synthetic graphite material to PowerCo over a five-year term, starting in 2027. The two companies had previously signed a non-exclusive Testing and Development Agreement in Ma...

Struggling to contain large capital requirements and increasing debt, Volkswagen-backed Swedish battery cell-maker Northvolt AB has filed for bankruptcy in the US, the company announced Nov. 21. “Northvolt AB and certain of its subsidiaries voluntarily filed for Chapter 11 reorganization in the United States,” the company said in a statement. It further said that the decision will enable the company to restructure its debt, appropriately scale the business to current customer needs a...

Hyundai Mobis has unveiled its "Value-up" business strategy during the 2024 CEO Investor Day, held in Seoul, South Korea, on Nov. 19. The mid-to-long term business strategy aims to achieve an average annual revenue growth of 8% and an operating margin ranging from 5% to 7% by 2027. Under the new business strategy, Hyundai Mobis plans to significantly expand its revenue outside its parent, Hyundai Motor Group (HMG), and also the owners of Hyundai, Genesis and Kia. The leading South Korean auto...

After a successful public listing on India’s National Stock Exchange (NSE) on Oct. 22, subcontinent’s second-largest carmaker, Hyundai Motor India Ltd. (HMIL), said that the company plans to work on localizing the electric vehicle supply network for battery systems, battery cells and drive systems. Hyundai Motor India, which is a subsidiary of South Korea’s Hyundai Motor Co., also plans to invest in building EV charging infrastructure to encourage customers for wider adoption of EVs across...

Volkswagen-backed solid-state battery technology company QuantumScape has started producing and shipping the first set of its B-sample cells for automotive customer testing. In a letter to shareholders released Oct. 23, the company said that it has begun producing low volumes of its first B-sample cells, accomplishing its most important goal for 2024. These B-sample cells are of QuantumScape’s first commercial product, QSE-5, and carry an energy density of over 800 watt-hours per liter (Wh/...

Australia-based mining company Ioneer Ltd. has received its federal permit for developing the Rhyolite Ridge Lithium-Boron Project in Nevada, US, from the Bureau of Land Management, the company announced Oct. 25. With the federal permit, the Rhyolite Ridge Lithium-Boron Project in Nevada becomes the first US lithium project approved by the Biden administration, the company said, adding that the move will help in beginning the construction work in 2025, with first production expected in 2028. ...

Contemporary Amperex Technology Co. Ltd. (CATL), the world’s largest battery manufacturer, has launched a specialized battery for hybrid vehicles, which are witnessing a sharp surge in global demand as consumers are staying away from battery-electric vehicles (BEVs) owing to concerns around range anxiety, slow charging and lack of electric vehicle charging infrastructure. At a high-profile event organized in Beijing on Oct. 24, CATL launched its Freevoy Super Hybrid battery, which it c...

South Korean consumer electronics major LG Electronics plans to accelerate its growth in new emerging business areas, including the company’s electric vehicle charger business, the company announced on the sidelines of a press conference organized on Oct. 10 at LG Digital Park in South Korea. LG, which claimed that its EV charger business is turning out to be an emerging unicorn within the LG umbrella, is looking to aggressively expand its presence in the global EV charger market through st...

The European Commission's proposal to impose definitive countervailing duties on imports of battery-electric vehicles (BEVs) from mainland China has obtained the necessary support from EU Member States for the adoption of tariffs, the European Commission announced Oct. 4. The development marks a crucial step toward the conclusion of the European Commission's anti-subsidy investigation on made-in-China BEVs imported into the EU region. The commission now plans to publish its regulations, in...

Hyundai Mobis has unveiled 65 new innovative technologies that are expected to be commercialized within the next two to three years on the sidelines of its R&D Technology Day in Seoul, South Korea, on Oct. 4. Hyundai Mobis organized the 2024 R&D Tech Day at its Uiwang Research Center in Gyeonggi Province, South Korea on Friday (Oct. 4). The company said that it was able to develop multiple new innovative solutions for vehicles due to its record-high research and development investment...

LG Chem’s Platform Technology research and development team has developed an innovative material designed to suppress thermal runaway in batteries, the company announced Oct. 1. LG Chem calls its all-new innovative material as the temperature-responsive Safety Reinforced Layer (SRL). The company said that the innovative thermal resistant material was analyzed in collaboration with Professor Lee Minah’s team from the Department of Battery Science at Pohang University of Science and Technol...

The US Commerce Department issued a notice of proposed rulemaking (NPRM) on Monday (Sept. 23) which, if approved, would ban sale or import of vehicles that incorporate connectivity technologies from countries of concern, specifically mainland China and Russia. The NPRM follows a process initiated by President Joe Biden in February and is based on public feedback to an earlier notice issued by the Commerce Department, which sought to address national security risks associated with certain technol...

Canada has decided to impose a 100% import duty on mainland China-built electric vehicles imported into the Canadian market, following the footsteps of the US and the EU. The new tariff will be applied in addition to the current import duty of 6.1% that is applicable on EVs produced in mainland China and imported into Canada. It will cover certain electric and hybrid passenger vehicles, trucks, buses and delivery vans. The new tariff will become effective from Oct. 1. Mainland China-made EVs ...

In a recent incident, a driver experienced the dangers of phantom braking when his vehicle unexpectedly collided with a stopped Honda Accord while driving back from a ski trip. This accident highlights a wider issue with automatic emergency braking (AEB) systems that has led to recalls, injuries and lawsuits due to their false activations. The NHTSA has received thousands of complaints regarding this issue, according to a report published by Automotive News on Aug. 23. The incidents spec...

As part of its ongoing anti-subsidy investigation on electric vehicles imported from mainland China, the European Commission has now revised the duty rates based on the inputs received from interested parties on the provisional countervailing duties published earlier in July. In a note issued on Aug. 20, disclosing the revised tariffs to the Chinese vehicle manufacturers, the commission announced the revised countervailing duties mentioned below: a) BYD electric cars will attract a count...

The European Commission has approved a €5 billion German measure to support the European Semiconductor Manufacturing Co. (ESMC) in constructing and operating a microchip manufacturing plant in Dresden, Germany. ESMC, a joint venture between Taiwan Semiconductor Manufacturing Co. (TSMC), Bosch, Infineon and NXP, aims to enhance Europe's supply security, resilience and digital sovereignty in semiconductor technologies, aligning with the European Chips Act Communication's objectives, as...

Human Horizons, the parent company of the premium electric vehicle brand HiPhi, has declared bankruptcy in mainland China, Autocar reported, citing the official announcement made by the Yancheng's Economic and Technological Development Zone court on Aug. 8. The move by the EV startup brought an end to its efforts to secure investments for reviving production. In February, HiPhi decided to suspend the production of its luxury EVs as a part of a restructuring initiative aimed at salvaging the f...

Intel Corp. experienced a significant downturn, with its shares plummeting over 26% in response to a dismal growth forecast and a major job cut announcement, marking its sharpest decline since at least 1982, and eroding about $32 billion in market value, as reported by Automotive News on Aug. 2. The chipmaker, grappling with challenges in adapting to the AI era, disclosed plans to eliminate more than 15% of its workforce, which totals approximately 110,000 employees, alongside suspending divi...

As reported in a press release on Aug. 5, Continental announced that its executive board is considering the potential spin-off of its Automotive group sector to form two independent companies to maximize value and growth. The decision, set for the fourth quarter of 2024, is aimed at responding to the dynamic changes in the automotive industry, particularly in light of recent technological shifts and market demands for greater flexibility. If the executive board and supervisory board approve, ...

The US Commerce Department has planned to introduce regulations aimed at restricting the use of Chinese software within autonomous and connected vehicles operating in the US, according to sources familiar with the matter, Reuters reported Aug. 5.  The proposed rule, expected to be announced by the Biden administration in the coming weeks, targets vehicles with Level 3 automation or higher. The intention is also to prevent Chinese companies from testing autonomous vehicles on US soil...

According to a press release on Aug. 1, Mobileye reported a 3% year-over-year decrease in revenue to $439 million for the second quarter of 2024, attributing the decline to a 10% decrease in EyeQ system-on-chip (SoC)-related revenue, largely due to the use of excess inventory by tier 1 customers. However, there was an 84% increase in revenue compared to the first quarter of 2024, mainly because of reduced inventory consumption by tier 1 customers and a more than 110% increase in the numb...

In a press release on July 31, Denso has reported first-quarter consolidated revenue of ¥1,753.8 billion (about $10.9 billion), for its 2025 fiscal year, ending March 31, 2025, marking a 2.4% rise from the previous year. Its consolidated operating profit surged by 27.7% to reach ¥120.6 billion, and the consolidated profit attributable to owners of the parent company increased by 10.5% to ¥94.5 billion. According to Yasushi Matsui, Denso's CFO, the revenue hike in the first quarter was...

Porsche has cut down its sales outlook for the fiscal year 2024 due to a significant supply shortage of aluminum components, which are used by the German sports-car maker in all its models, the company announced July 23. “The supply shortage is the result of the flooding of a production facility of an important European aluminum supplier who has informed its customers in writing of the occurrence of a force majeure event,” the Volkswagen-backed luxury performance carmaker said in a statem...

E.ON and MAN Truck & Bus have agreed to cooperate in jointly setting up about 400 electric vehicle charging stations for public charging of electric trucks across 170 locations in Europe, the two companies said in a joint announcement on July 11. The companies plan to invest in building new EV charging stations, which will be built along the existing MAN service network and will also be able to charge commercial vehicles from other manufacturers. Of the 170 locations, about 125 sites are ...

In a press release on July 9, Renault Group detailed its strategy for autonomous vehicles for 2024, aiming for a pragmatic approach by dividing research efforts between passenger cars and public transport vehicles. For passenger vehicles, Renault is focusing on Level 2 automation, exemplified by its Active Driver Assist system. This system features adaptive cruise control, lane keeping assist and geolocation data for predictive road adaptation. Renault plans to continue developing vehicles wi...

The Biden administration plans to award $1.7 billion in grants to General Motors (GM), Stellantis and others to convert existing plants to manufacture electric vehicles and components. The fund will be provided by the US Department of Energy under “Domestic Automotive Manufacturing Conversion Grants” to 11 “shuttered or at risk” plants in Michigan, Ohio, Pennsylvania, Georgia, Illinois, Indiana, Maryland and Virginia. The grant aims to bolster the US auto industry's competitiveness, reta...

Amara Raja Advanced Cell Technologies Pvt. Ltd. (ARACT), a wholly owned subsidiary of Amara Raja Energy & Mobility Ltd., one of India’s leading battery manufacturers, has signed a technical licensing agreement with GIB EnergyX Slovakia sro., a subsidiary of mainland China’s Gotion High-Tech Co Ltd., the two companies said in a joint announcement June 24. As part of the agreement GIB EnergyX will license Gotion’s world-class lithium iron phosphate (LFP) technology for lithium-ion cel...

British luxury-car maker Jaguar Land Rover (JLR) and Chery Automobile Co. are deepening their 12-year partnership to strengthen their equal joint venture company — called CJLR — product offerings in mainland China, JLR announced June 19. JLR and Chery have signed a letter of intent (LoI) to license the Freelander brand to CJLR for jointly developing a range of new electric vehicles to be built on Chery’s EV architecture. The two companies plan to establish a Freeland...

South Korean battery company SK On has successfully co-developed a polymer electrolyte for lithium-metal batteries that can operate at room temperature, the company announced June 17. The milestone was achieved in collaboration with a research team led by the late Professor John B. Goodenough from the University of Texas. The development of polymer electrolyte for lithium-metal batteries is expected to contribute significantly to improving solid-state battery performance and accelerate the de...

The European Commission’s new tariffs on made-in-China electric vehicles may slow down Chinese carmakers looking to grow sales in Europe, but would not stop leading players such as BYD from penetrating further and continuing to pose serious competition to local carmakers, according to a news report published by Nikkei Asia on June 13. Earlier on June 12, the European Commission announced that it plans to impose provisional countervailing duties on Chinese carmakers from July 4, if discussio...

The US state of Virginia plans to exit the California electric vehicle mandate as the current regulations expire by the end of 2024, according to a press note issued by the governor of Virginia on June 5. An official opinion from Attorney General Jason Miyares in response to a request by the Governor and Senate Republican Leader Ryan McDougle has confirmed that Virginia is not required to comply with expansive new mandates adopted by the unelected California Air Resources Board (CARB), set to...

Turkey plans to impose an additional tariff of 40% on vehicles imported from mainland China in order to protect its domestic automotive industry, according to a press release dated June 10. The move is also expected to prevent a potential worsening of its current account balance. The additional tariff will be set at a minimum of $7,000 per vehicle and will become effective from July 7. According to the Turkish Trade Ministry, if the 40% tariff calculated from the price of an imported vehicle ...

Factorial Inc., a leading solid-state battery technology company, has delivered B-samples of its 106+Ah lithium-metal solid-state battery cells to German luxury carmaker Mercedes-Benz as part of its ongoing joint development agreement, the company announced June 5. Factorial claims that the milestone marks the world’s first announced B-sample shipment of solid-state battery cells to a global automotive original equipment manufacturer, indicating remarkable progress toward product maturity a...

The US government has opened applications for a $1.3 billion funding opportunity for electric vehicle (EV) charging and alternative-fueling infrastructure in urban and rural communities and along designated highways, interstates, and major roadways, the US Joint Office of Department of Energy (DOE) and Department of Transportation (DOT) announced on May 30. The funding opportunity stems from the Bipartisan Infrastructure Law’s signature EV charging investments, such as the $2.5 billion Char...

On May 29, US Representative Elissa Slotkin introduced a new bill that would limit or ban the introduction of connected vehicles produced by mainland Chinese automakers in the US. The Connected Vehicle National Review Act aims to establish a formal national security review for connected vehicles built by companies from mainland China or other countries of concern. It would allow the US Commerce Department to limit or ban the introduction of these vehicles in the US market if they pose a threat t...

Mainland China must raise temporary tariffs on imported cars to a maximum of 25%, a senior executive from a government-affiliated automotive research organization said in an interview with state-run media publication Global Times on May 21. Liu Bin, chief expert of China Automotive Technology and Research Center and deputy director of China Automotive Strategy and Policy Research Center, has called for raising the import duty to 25% on gasoline cars with engines larger than 2.5 liters, potent...

Modine, a diversified global leader in thermal management technology and solutions, has reported total net sales of $2.4 billion for full financial year 2023–24, recording year-over-year growth of 5%, on increased demand for its products under climate solutions and performance technologies divisions, the company announced on May 21. Modine’s fiscal year 2023–24 operating income stood at $240.7 million, up a significant 60% year over year, and the company’s adjusted EBIDTA was at ...