Continental’s sales declined 2% year over year to €19.7 billion in the financial year ended Dec. 31, 2025. Full-year sales, excluding exchange-rate effects and changes in the scope of consolidation, increased 0.8% year over year. Lower sales impacted the Germany-based company’s earnings, with EBITDA falling 41.1% year over year to €1.9 billion, while earnings before interest and taxes witnessed an even sharper decline of 86.7% year over year to €272 m...

Valeo reported better-than-expected financial results in the financial year ended Dec. 31, 2025. Sales declined 2.7% year over year to €20.9 billion. However, on a like-for-like basis, sales improved 0.5%. Despite lower sales, operating income increased 6% year over year to €977 million, resulting in an improved operating margin of 4.7% compared to 4.3% in 2024. Net income increased 23% year over year to €200 million. Valeo reported 8% year-over-year growth in adjusted EBITDA to €3 bi...

Visteon Corp. has reported 2025 fourth-quarter net sales of $948 million, driven by strong demand for its cockpit electronics portfolio. Growth in displays and instrument clusters — particularly in Europe — supported performance, partially offset by lower battery management system (BMS) volumes and previously disclosed customer production disruptions, including a temporary shutdown at Jaguar Land Rover and the impact of the Novelis fire affecting Ford Motor Co. During the quarter, Visteon ac...

Aptiv has reported its 2025 financial performance, highlighting a 3% increase in full-year revenue to $20.4 billion. The company reported full-year 2025 net income under generally accepted accounting principles of $165 million. GAAP operating income was $1,184 million, compared to $1,842 million in the prior year. For the full year of 2025, Aptiv recorded a net income of $165 million, including a $648 million noncash goodwill impairment charge. This resulted in diluted earnings per share of $...

OPmobility reported an 8.9% year-over-year increase in net profit to €185 million in the financial year ended Dec. 31, 2025, despite a 0.9% year-over-year decline in economic revenue to €11.5 billion. The company’s consolidated revenue, which excludes revenue from joint ventures, fell 2.6% year over year to €10.2 billion. Revenue from JVs, which mainly includes Yanfeng Plastic Omnium (YFPO) in mainland China and SHB Automotive Modules in South Korea, increased 13.6% year over year to...

Synopsys has reported its financial results for the first quarter of fiscal year 2026, announcing a quarterly revenue of $2.41 billion, an increase of 88% year over year, compared to $1.455 billion for the first quarter of fiscal year 2025. Synopsys reiterated its expectations for full-year total revenue to be $9.61 billion at the midpoint, including an expected $2.9 billion from Ansys revenue. Additionally, the company's board of directors approved replenishing the existing stock repurchase pro...

Forvia unveiled its new strategic road map, IGNITE, at the 2026 Capital Markets Day. The road map, with the theme "Drive what matters and unlock what is next," will be implemented in two key phases: Focus & Strengthen between 2025 and 2028, followed by Lead & Grow. The strategic road map aims to sharpen Forvia's profile, reduce complexity and increase financial flexibility to promote growth and sustained cash flow generation. “IGNITE marks the start of a new strategic chapter for Fo...

Forvia Group delivered strong financial performance in the fiscal year ended Dec. 31, 2025. The France-based company reported sales of €26.2 billion, down 3% year over year from €26.9 billion in 2024. However, at constant currency, sales remained unchanged at the 2024 level. Despite lower sales, operating income increased 4% year over year to €1.4 billion, which led to a 40-basis-point increase in operating margin to 5.6%. The company reported a 47% year-over-year growt...

Magna International delivered a mixed financial performance in the fourth quarter and the full year ended Dec. 31, 2025. Sales increased by 2% year over year in the fourth quarter to $10.8 billion, despite a 1% decline in global light vehicle production. The Canadian supplier attributed revenue growth to increased production from ongoing programs and the launch of new ones, as well as net customer recoveries, which largely offset higher tariff costs. The fourth quarter adjusted earnings ...

Soon after Ford Motor Co. and General Motors (GM) wrote off billions of dollars due to scaling back their respective electric vehicle development plans, Stellantis announced it will take a staggering €22.2 billion hit to its balance sheet amid fading global demand for battery-electric vehicles (BEVs). The announcement came after the carmaker conducted a thorough assessment of its strategy and related costs to align its product development with real-world customer demand. The transition t...

Qualcomm Inc. reported its first quarter fiscal year 2026 revenue of $12.25 billion, representing a 5% year-over-year increase from $11.67 billion in the first quarter of fiscal year 2025. The company’s QCT Automotive segment delivered record quarterly revenue of $1.1 billion, marking a 15% year-over-year growth. Qualcomm also reported net income of $3 billion for the quarter. The company expects its second-quarter fiscal year 2026 revenue to range from $10.2 billion to $11.0 billion...

On Feb. 4, Lear Corp. reported financial results for the fourth quarter and full year ended Dec. 31, 2025. In the fourth quarter, the US-based supplier of seats and electrical systems (E-Systems) recorded a 5% year-over-year increase in net sales to $6 billion. Higher sales were supported by new business across both segments — Seating and E-Systems — and commercial recoveries, but were partly offset by lower production on key platforms. The company recorded core operating earnings of $259 mi...

NXP Semiconductors reported its fiscal year 2025 revenue at $12.27 billion, marking a 3% year-over-year decline from $12.67 billion in the previous year. The company posted net income of $3.0 billion for the year. In the fourth quarter, NXP recorded a 7% year-over-year increase in revenue, totaling $3.34 billion.  Automotive remained the core growth pillar, generating $7.1 billion in revenue in 2025, and NXP targets expanding its automotive business to $9.5 billion by 2027, underscoring ...

In 2025, Bosch’s sales improved marginally to €91 billion in what the company termed “an incredibly challenging financial year.” Adjusted for exchange rates, revenue grew by 4.2%. The company reported earnings before interest and taxes of €1.7 billion, resulting in an EBIT margin of about 2%, down from 3.5% achieved in 2024. Adjusted for exchange rates, the company’s revenue grew by 4.2%. Sales decreased in Europe by 0.6% year over year to €44.2 billion. However, the company rec...

In 2025, Hyundai Mobis won new business orders worth $9.17 billion from global automakers, excluding Hyundai Motor Group, which owns Hyundai Motor and Kia, surpassing its own target by 23%. This achievement was driven by substantial new orders for electrification components, an expanded supply of high-value-added electronic components, and proactive market entry into emerging economies such as mainland China and India. These results are notable given the revisions many global automakers hav...

Autoliv’s net sales increased 4.1% year over year to $10.8 billion in the financial year ended Dec. 31, 2025. Higher sales helped the Sweden-based automotive safety systems supplier record an 11% year-over-year growth in operating income to $1.1 billion, while income before income tax increased 13% year over year to $986 million. Autoliv concluded the financial year with net income of $736 million, up by 14% over the $648 million achieved in 2024. The company reported adjusted operating inc...

Hyundai Mobis has reported strong growth in revenue and profit in the financial year ended Dec. 31, 2025. The leading automotive supplier from South Korea recorded a 6.8% year-over-year increase in revenue to 61.1 trillion won (nearly $42.4 billion), driving a 9.2% year-over-year increase in operating profit to 3.3 trillion won. Apart from higher revenue, Hyundai Mobis benefited from companywide cost control, which helped it to offset the impact of US tariffs. However, the company concluded the ...

Tesla CEO Elon Musk announced that the company's Full Self-Driving (FSD) software will be offered exclusively as a monthly subscription after Feb. 14. Currently, Tesla owners can buy FSD for a single payment of $8,000 or subscribe for $99 per month in the US. FSD is an assistance system requiring driver attention and intervention as needed. The US National Highway Traffic Safety Administration began an investigation of about 2.88 million Tesla vehicles with the FSD system following over 50 re...

ZF Group has agreed to sell its Advanced Driver Assistance Systems business to US-based in-cabin electronics specialist Harman International Inc. in a deal valued at €1.5 billion. The transaction, subject to regulatory approvals, marks a key milestone in ZF’s ongoing strategic realignment. ZF CEO Mathias Miedreich said the divestment allows the group to sharpen its focus on core technologies where it holds global leadership positions, including chassis systems, powertrain solutions, ...

Rivian plans to launch its Gen 3 Autonomy Platform in late 2026 on the R2 model, featuring a shift to in-house silicon designed for vision-centric physical AI. This platform will be powered by the first-generation Rivian Autonomy Processor (RAP1), a custom 5-nanometer (nm) processor integrating processing and memory into a multichip module. The Autonomy Compute Module 3 (ACM3) will utilize RAP1 and boasts notable specifications, including 1600 sparse INT8 tera operations per second (TOPS) utiliz...

The European Commission unveiled the automotive package on Dec. 16, focusing on providing flexibility for CO2 emissions of cars and vans to vehicle manufacturers, promoting affordable small electric cars, and establishing mandatory targets for corporate vehicles, as well as local development of the battery supply chain. Softening its stance on the earlier proposed ban on the sale of internal combustion engine (ICE) powered passenger cars by 2035, the new proposal from the European Commission ...

Japanese automaker Nissan has commenced production of its third-generation LEAF electric vehicles at its Sunderland-based manufacturing plant in the UK, bringing its EV36Zero plan to life, the company announced Dec. 16. Nissan first launched its ambitious EV36Zero plan in July 2021. The plan committed an investment of £1 billion in Sunderland to establish the company’s flagship EV manufacturing hub based on sustainability guidelines. The EV36Zero plan included setting up a highly auto...

French battery company Verkor has inaugurated its first lithium-ion low-carbon battery cell gigafactory in Bourbourg in Dunkirk, France, the company announced Dec. 11. The new gigafactory will operate with an initial capacity of 16 GWh per year and is expected to create 1,200 direct jobs and 3,000 indirect jobs, with the commercialization of the first batteries planned for 2026 for the Alpine A390. Verkor plans to scale up battery production to reach 50 GWh by 2030, with an aim of becomi...

Volkswagen (VW)-owned car brands SEAT and CUPRA have opened an all-new battery system assembly plant at the Martorell factory in Spain, SEAT announced Dec. 12. The move is seen as part of the VW Group's larger battery strategy to balance in-house and third-party cell supply to achieve maximum flexibility. In-house battery-cell assembly operations offer flexibility and control over the supply chain, while providing scope to innovate in technology and processes. The high-profile opening cere...

Earlier in September, the Indian Bureau of Energy Efficiency (BEE) released the revised draft of the Corporate Average Fuel Efficiency (CAFE-III), which will be implemented during the next cycle between April 2027 and March 2032. The new regulation will require vehicle manufacturers to meet increasingly stringent fuel consumption and CO2 emission requirements for M1 categories of vehicles (weighing less than 3,500 kg), comprising passenger cars, sport utility vehicles, multipurpose vehicles...

The Indian government has proposed changes to the Bharat New Car Assessment Program (Bharat NCAP) framework to expand the scope of passenger vehicle safety star ratings. These changes, detailed in a new draft released by the Ministry of Road Transport and Highways (MoRTH) on Nov. 21, highlight the need for modern vehicles to prevent accidents, protect vulnerable road users and support occupants after a crash to achieve higher star ratings. In the current Bharat NCAP framework, effec...

On Nov. 20, Valeo presented its new strategic plan, Elevate 2028, at its Capital Market Day event in Paris. The plan builds on the success of the French supplier’s previous strategic plan, “Move Up,” and outlines its financial growth trajectory for the next three years. Under the new strategic plan, Valeo aims to steadily improve profits, generate higher cash and return to sales growth, leveraging its established technology leadership in the automotive sector. “Since 2022, our Move Up...

The Dutch government has decided to relinquish control of Nexperia, a Chinese-owned chipmaker, effectively de-escalating a crisis that could have disrupted global auto production, according to an Automotive News Europe report on Nov. 19. This decision follows constructive talks with China, after the Netherlands had seized control at the end of September due to concerns that actions by Wingtech Technology, Nexperia's Chinese owner, could disrupt the company's operations. Nexperia plays a crucial ...

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...