Europe

BRUSSELS — The European Union said it was “deeply concerned” about proposed tax credits for purchases of electric vehicles in the U.S. because they would be biased against foreign producers and may breach World Trade Organization (WTO) rules. Under a provision of the $430 billion climate and energy bill that was passed by the Senate
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Nikola Corp. said Michael Lohscheller will take over as the electric-truck maker’s CEO when Mark Russell retires on Jan. 1. Lohscheller will assume Russell’s president title and will join the Nikola board effective immediately. He will become CEO on Russell’s retirement, the company said on Wednesday. Russell joined Nikola as president in 2019 and became
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Self-driving tech startup Aurora Innovation is working with several partners, including Toyota, Paccar’s Peterbilt brand and Volvo Trucks, to develop self-driving technology for trucks and robotaxis. The company also has autonomous freight hauling pilot programs with FedEx, Uber Freight and motor carriers Werner and Schneider National. “We are going to be putting more emphasis on
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Porsche is trying to secure anchor investments from some of the largest Middle Eastern sovereign wealth funds, as the sports-car maker looks to pull off one of Europe’s biggest listings amid market headwinds and valuation concerns, people familiar with the matter said. Abu Dhabi’s Mubadala Investment Co. and ADQ are among those considering committing funds
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Car dealer Pendragon said on Friday talks over a potential takeover of the company were terminated after the bidder withdrew its interest, as one of the company’s five major shareholders did not participate. The company did not disclose the identity of the bidder, who was looking to offer about 460 million pounds ($558.35 million) for
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MOSCOW — Russian carmaker AvtoVAZ said on Thursday it would move production of the Lada Vesta small car to its main site in Togliatti from its Izhevsk assembly plant, in a move which should allow it to retain Togliatti’s 42,000-strong workforce. AvtoVAZ said the Izhevsk factory would switch to production of an electric version of
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German passenger car sales fell 13 percent in July as automakers were unable to keep up with demand because of production shortfalls due to parts shortages. Registrations for the month were 205,911, the KBA motor transport authority said on Wednesday. Electric-car maker Tesla was the biggest monthly winner with registrations up 142 percent for a
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Volvo Cars’ CEO Jim Rowan has left some wiggle room for his company to keep working with Europe’s largest automotive lobbying group, ACEA. “We never want to close that door completely,” Rowan told Automotive News Europe. “But right now there is a misalignment on the sustainability strategy, which is an important part for us.” Volvo,
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