Europe

Stellantis has a lofty agenda as it pushes aggressively into electrification while also striving to generate more revenue through software and to improve the ownership experience with over-the-air updates. But this ambitious to-do list may not even be the trickiest task looming for Stellantis. The company is working to conquer another goal that has perplexed

Parts shortages and higher commodity prices are putting a financial squeeze on Tier 2 and Tier 3 suppliers, in some cases forcing them to go to their Tier 1 customers to renegotiate pricing or ask for a cash infusion. The third option: Go bankrupt. Pat D’Eramo, CEO of Canadian Tier 1 supplier Martinrea International, has

A U.S. appeals court upheld a 2020 ruling that tossed out a racketeering lawsuit General Motors filed against rival Fiat Chrysler Automobiles, now part of Stellantis, and former executives. GM filed the racketeering lawsuit in November 2019, alleging FCA bribed UAW union officials over many years to corrupt the bargaining process and gain advantages, costing

WASHINGTON — Audi of America, Kia and Porsche said buyers of its electric vehicles will lose access to federal tax credits of up to $7,500 once President Joe Biden signs a $430 billion climate, health and tax measure. The legislation set to be approved by the U.S. House of Representatives on Friday “will have consequential

MACCLESFIELD, England — Large corporations are jumping on the green bandwagon, which in turn is pushing firms that lease and manage car fleets to convert to electric vehicles faster than they had ever thought possible. In late 2020, fleet management company ALD set a to have 30 percent of its new cars electrified by 2025

SHANGHAI — China’s CATL plans to build a 7.3 billion euro ($7.6 billion) battery plant in Hungary, as the world’s biggest electric vehicle battery maker gears up to meet growing demand from global automakers. CATL said that construction of the 100 GWh (gigawatt hours) plant in the eastern Hungarian city of Debrecen, its biggest overseas

Europe’s economic headwinds are catching up with the region’s auto industry. Volkswagen’s finance arm expects earnings to decline this year because rising interest rates and inflation are starting to weigh on car demand. Customers are debating whether to buy a vehicle or push the leasing contract ahead a month over concerns including surging energy prices,

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

HAMBURG — Volkswagen Group’s incoming CEO, Oliver Blume, aims to shrink the size of the group’s management board as one of his first moves after his promotion, several people familiar with the matter told Reuters. “Some dual functions should be reconsidered,” one of the sources said. The number of board seats could be reduced to

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

NUNEATON, England — A handful of commercial electric vehicle startups are burning through cash fast, racing to bring vans or trucks to market before the funds run out or customers choose to buy from legacy automakers such as Ford or General Motors. Boosted by investor hunger to create the next Tesla, a clutch of commercial

China’s Great Wall, one of the country’s six largest automakers, has entered a strategic partnership with Europe’s largest car dealer group, Emil Frey, to distribute the Ora and Wey brands. The automaker announced its move into Europe at the IAA in Munich last year and has since been preparing its entry into Germany, its first

BEIJING — Baidu’s electric vehicle unit, Jidu Auto, will be one-generation ahead of Tesla in terms of autonomous driving technologies, Baidu CEO Robin Li said in a statement on Monday. “Our understanding of smart vehicles is that being electric is the semi-final while being intelligent is the final,” Li added. Jidu aims to be to

BERLIN — Germany would face costs almost six times as high as Brexit if it and the European Union were to shut China out of their economies, the Ifo institute said on Monday, citing the results of a study. The biggest losers of a trade war with China would be the automotive industry with a

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

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

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

British electric vehicle start-up Arrival is delaying trials of its bus and car projects to cut costs and focus on the production of its debut van, the Financial Times reported, citing three people familiar with the matter. Arrival has paused its car project but it might be revived once the company has begun producing revenues