Mainland China has opened its first state-level testing platform for automotive chips in Shenzhen, as reported by the South China Morning Post. This facility aims to verify car-chip standards and is part of China's broader effort toward technological self-sufficiency. The platform was established through the collaboration of two state-owned enterprises: China Reform Holdings and the China Automotive Technology and Research Center. Equipped with over 80 sets of testing instruments and 13 ...

According to a report Reuters published on Oct. 31, Stellantis has established a “war room” to manage potential chip shortages occurring from complications at Dutch group Nexperia. During a call with analysts about the company's third-quarter performance, CEO Antonio Filosa responded to a question about whether Stellantis could face production stoppages similar to those at Volkswagen, emphasizing that Stellantis is actively monitoring the chip situation related to Nexperia and implementing a...

Mainland China has decided to exclude electric vehicles from its strategic industries list in its latest five-year development plan for 2026–2030, marking the first time in over a decade that EVs have not been prioritized. Previously classified as new-energy vehicles (NEVs), including EVs, plug-in hybrids, and fuel-cell vehicles, these were considered strategic emerging industries in the last three five-year plans, benefiting from significant governmental subsidies to boost industrial compe...

Europe's automotive industry is bracing for disruptions after a diplomatic and trade dispute over Dutch chipmaker Nexperia escalated, prompting urgent calls from automakers and suppliers for political intervention to avert production halts. The standoff began after the Dutch government placed Nexperia—owned by China's Wingtech Technology- under state control, citing national-security and intellectual-property concerns. In response, Beijing blocked exports of Nexperia's chips from its facili...

US auto manufacturers could face major production disruptions within two to four weeks as tensions escalate between China and the West over chipmaker Nexperia, according to the Motor & Equipment Manufacturers Association (MEMA), the largest vehicle supplier group in the United States. Beijing recently prohibited Nexperia — a key supplier of semiconductors for the automotive and consumer electronics sectors — from exporting chips produced at its Chinese facilities. The move came after ...

Nexperia has informed Japanese auto-parts manufacturers that it may be unable to ensure stable chip supplies, according to the Japan Automobile Manufacturers Association (JAMA), The Japan Times reported Oct. 23. JAMA said on Thursday (Oct. 23) that Nexperia’s semiconductors are essential components in vehicle electronic control units, and any disruption in their supply could severely affect global automobile production. The association expressed hope that the nations involved will find a sw...

Waymo announced that it will introduce a commercial robo-taxi service in London by 2026, marking its second international expansion after Tokyo, according to a report published by TechCrunch on Oct. 14. This move follows recent job postings in London and builds on Waymo's 2019 acquisition of Latent Logic, a UK startup specializing in imitation learning for self-driving simulations. As part of this expansion, Waymo plans to deploy its all-electric Jaguar I-Pace vehicles equipped with self-driv...

On Oct. 7, the European Commission proposed several measures to protect the struggling EU steel industry from the adverse effects of global overcapacity and ensure its long-term sustainability. The commission proposed to reduce tariff-free import volumes of steel to 18.3 million metric tons per year, a 47% decrease from 2024 quotas, and double the out-of-quota import duty to 50%, up from 25% currently. Additionally, the commission plans to enhance market traceability by introducing a Melt and Po...

Mainland Chinese autonomous driving companies are increasingly turning their attention to Europe as they face regulatory and political headwinds in the US. With Washington tightening controls over data flows and AI technologies, Europe’s comparatively open environment has emerged as a key testing ground and market entry point for mainland Chinese mobility players. Several companies — including Baidu’s Apollo Go, WeRide and AutoX — have begun expanding operations and forming partnershi...

ZF Friedrichshafen has reached an agreement with its works council and IG Metall union to cut 7,600 jobs in its Electrified Powertrain Technology division, also called Division E, by 2030. The planned job cuts would be complemented by other measures, including shorter working hours and a postponed wage increase to help the division reduce costs by €500 million by 2027. In addition, ZF will introduce partial retirement and a severance program in the business division to avoid forced redundancie...

First Brands, the Ohio, US-based automotive-parts maker owned by Patrick James, has filed for Chapter 11 bankruptcy protection, weighed down by debt from years of acquisition-driven expansion and mounting financial strain. The filing, made in the Southern District of Texas, lists liabilities of more than $10 billion against assets of $1 billion-$10 billion. The company has secured $1.1 billion in debtor-in-possession financing from first-lien lenders to maintain operations, stressing that the...

On Sept. 16, Schaeffler hosted a Capital Markets Day in Frankfurt, Germany, the first after the acquisition of Vitesco Technologies. CEO Klaus Rosenfeld, along with other executives, outlined its strategic vision to become a leading motion technology company. The integration of Vitesco has bolstered Schaeffler's portfolio, especially in power electronics, electronic control units and sensors, aiming to solidify its position as a top global player across the ...

In a press release dated Sept. 24, Baidu announced that its autonomous ride-hailing platform, Apollo Go, has received Dubai, United Arab Emirates' first autonomous driving trial permit and an initial batch of 50 autonomous driving test licenses issued by Dubai's Roads and Transport Authority (RTA). These permissions were granted in July, allowing Apollo Go to deploy its vehicles in urban Dubai. The 50-vehicle fleet began trials on open roads in designated areas of Dubai in August, as declared at...

German high-performance sports-car maker Porsche plans to realign its propulsion strategy by continuing to offer models with internal combustion engines (ICEs) while delaying the rollout of battery-electric vehicles (BEVs) to reduce the cost of transition on its balance sheet. In an announcement on Sept. 19, Porsche said that its executive and supervisory boards have approved "significant adjustments" to the brand’s product portfolio in the medium and long-term period, with an aim to achiev...

According to a press release on Sept. 23, WeRide has announced the launch of its autonomous vehicles in Singapore. These deployments are part of Ai.R, Grab's inaugural autonomous vehicle service in Singapore. Ai.R, which stands for Autonomously Intelligent Ride, will be operated by Grab in cooperation with WeRide. This service has been selected by the Land Transport Authority to operate Singapore's first autonomous shuttle service in a residential area, specifically in Punggol, where it will nav...

Volkswagen Group will invest up to €1 billion ($1.2 billion) in artificial intelligence (AI) by 2030, strengthening its position in the global technology race. Announced at the IAA Mobility 2025, the initiative focuses on AI-driven vehicle development, industrial applications, and expanding high-performance IT infrastructures. The goal: faster innovation cycles, greater efficiency, and enhanced competitiveness. “AI ignites the next stage of our journey to become the world’s leading auto...

Valmet Automotive has announced several strategic decisions that will significantly impact its future growth. The Finland-based auto parts supplier and contract vehicle manufacturer plans to offer its expertise beyond the automotive industry. The company expects its special expertise in industrial serial production will benefit other sectors, including the defense sector. Valmet has also decided to divest Ioncor, its subsidiary focused on developing battery systems for hyb...

Stellantis has paused its Level 3 advanced driver-assistance program due to high costs, technological challenges and limited consumer demand, Reuters reported Aug. 26, citing sources familiar with the matter. Although the company announced in February that its AutoDrive system was ready for deployment, it has not been launched. Stellantis confirmed the technology is available but not deployed, without stating if the program is canceled. Former CEO Carlos Tavares had identified AutoDrive as a ...

Ford Motor Co. has announced that it will be investing approximately $5 billion to create or secure nearly 4,000 jobs across its Louisville Assembly Plant and BlueOval Battery Park Michigan. The initiative aims to produce a new pickup and advanced prismatic lithium iron phosphate (LFP) batteries. Ford will invest nearly $2 billion in the Louisville Assembly Plant to assemble the midsize electric truck, securing 2,200 hourly jobs. The Louisville Assembly Plant will see a significant expansion&...

On July 4, US President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law with an aim of cutting down government spending to address the US' rising national debt, reducing tax liabilities for the working middle class and driving down energy costs with a massive expansion of domestic oil and production capacity, among several other key goals. When it comes to electric vehicle adoption in the US, the OBBBA terminates the $7,500 tax credit for new EV purchases and the $4,000 cr...

On July 15, mainland China's Ministry of Commerce and Ministry of Science and Technology made some critical changes in their "Catalogue of Technologies Prohibited and Restricted from Export from China." The authorities have added a new restricted technology item to the list — battery positive electrode material preparation technology. This includes new battery lithium iron phosphate (LFP) preparation technology, battery lithium manganese iron phosphate (LMFP) preparation technology, phospha...

US President Donald Trump announced his plans to impose a 50% tariff on imported copper, further escalating his administration's strategy to bolster domestic industries through tariffs, Fox Business reported July 8. This announcement, made at a Cabinet meeting, aligns with Trump's America First policy, which aims to enhance industrial supply chains by encouraging companies to procure materials from within the US. During the meeting, Trump highlighted that copper will join steel...

US President Donald Trump announced a 25% tariff on goods imported from Japan and South Korea, effective Aug. 1, as the 90-day negotiation period offered in the first week of April comes to an end this week, the Associated Press (AP) reported July 8. Trump communicated this decision through letters posted on the social networking website Truth Social to the leaders of the respective countries, cautioning them against retaliatory measures that could lead to a further increase in tariffs...

On June 23, Zaofu Intelligent Technology was officially registered in Shanghai, as reported by 36Kr on June 24. The new company is a joint venture established by Contemporary Amperex Technology (CATL), Ant Group and HelloRide through their investment branches. With a registered capital of 1.288 billion yuan (about $180.3 million), Zaofu will focus on the research, development, safety applications and commercialization of Level 4 autonomous driving technology. The name Zaofu is inspired by a l...

At its Capital Market Day in Frankfurt, Germany, held on June 24, Continental confirmed the planned sale of its ContiTech group sector. This will transform Continental, which is on track to spin off its Automotive group sector into an independent public company by September 2025, into a pure-play tire company. The sale, pending approval from Continental’s supervisory board, is scheduled for 2026, following the sale of ContiTech's Original Equipment Solutions (OESL) business area later in 2025....

Nippon Steel Corp. and United States Steel Corp. have finalized a significant partnership, concluding an 18-month process marked by political scrutiny and national security considerations. Under the terms of the $14.9 billion agreement, Nippon Steel has acquired all outstanding shares of U.S. Steel at $55 per share, while U.S. Steel will retain its iconic name and headquarters in Pittsburgh, Pennsylvania. The steel produced will continue to be “mined, melted and made” in the US, pr...

Mainland Chinese automakers such as SAIC Motor, Changan, Great Wall Motor, BYD, Li Auto and Geely are set to launch models featuring 100% domestically produced chips, with at least two brands planning mass production by 2026, according to Nikkei Asia report on June 17. These models will include updated versions of existing lines, as part of mainland China's push for self-reliance in chip production. The initiative is overseen by the Ministry of Industry and Information Technology (MIIT), whic...

On June 11, Marelli Holdings filed Chapter 11 proceedings in the US Bankruptcy Court for the District of Delaware to restructure its long-term debt obligations. “After careful review of the company's strategic alternatives, we have determined that entering the Chapter 11 process is the best path to strengthen Marelli's balance sheet by converting debt to equity, while ensuring we continue operating as usual,” David Slump, president and CEO of Marelli, said in a press release. Marelli said...

Marelli Holdings, a major auto parts supplier owned by private equity firm KKR, is considering filing for Chapter 11 bankruptcy protection in the US, according to a June 7 Reuters report. The report referenced Kyodo news agency as the source of the news, with Kyodo citing unnamed sources. Marelli is a key supplier for Nissan and Stellantis, and is exploring this option to ensure that its business operations continue uninterrupted, even if negotiations with creditors do not yield positive re...

The European Association of Automotive Suppliers (Comité de Liaison Européen des Fabricants d'Equipements et de Pièces Automobiles [CLEPA]) warned that mainland China’s export restrictions on rare earth elements (REEs) and magnets have caused a severe shortage of critical materials, shuttering several assembly lines and plant operations in Europe. “These restrictions have led to the shutdown of several production lines and plants across Europe, with further impacts expected in the comi...

US-based sodium-ion battery technology startup Bedrock Materials announced April 5 that it is winding down its operations and stopping development work on sodium-ion batteries. The startup blamed the crash in the price of lithium carbonate and policy tailwinds in the US, leading to uncertainty in the business case of sodium-ion batteries for electric cars. The startup, which secured $9 million in seed funding and opened its R&D headquarters in Chicago in 2024, now plans to return the mone...

US President Donald Trump has decided to further raise tariffs on steel and aluminum imports from 25% to 50%, effective June 4. "We are going to be imposing a 25% increase. We're going to bring it from 25% to 50% — the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States," Trump announced while speaking at a rally in Pittsburgh, Pennsylvania, the US.  In February 2025, a few days after becoming the US ...

Samvardhana Motherson International Ltd. reported a 40% year-over-year increase in net income of 38 billion rupees (about $444.5 million) in the financial year ended March 31, 2025, the leading auto parts manufacturer from India said in a press release on May 29. The company recorded strong growth in net profit as total revenue surged 15.2% year over year to 1.14 trillion rupees. Higher revenue also helped the Indian supplier to record a profit before tax of 56.2 billion rupees, up 37% year...

General Motors (GM) announced plans to invest $888 million in its Tonawanda Propulsion plant in Buffalo, New York, to support production of sixth-generation V-8 engines, used in full-size trucks and sport utility vehicles. The automaker will make an investment in new machinery, equipment, tools and renovations of the 87-year-old plant as it gears up to begin production of the next-generation engines in 2027. Tonawanda is the second propulsion plant of G...

The executive board of thyssenkrupp is developing a strategic target model for the future course of the entire group and plans to submit it to its supervisory board before the end of the current financial year 2024/25, ending Sept. 30, 2025. As part of the plan, the Germany-based company — with business interests from automotive to chemicals to oil and gas to shipbuilding — is gearing up to transition into a strategic holding company with independent business segment...

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...