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...

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...

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...

On Nov. 20, Valeo presented its new strategic plan, Elevate 2028, at its Capital Markets 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 by 2027, leveraging its established technology leadership in the automotive sector. “Since 2022, our Move...

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...

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...

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...

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&...

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....

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...

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...

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 (...

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 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...

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...

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...

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...

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....

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...

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...

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

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

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

In a press briefing May 16, Honda outlined its investment and technology development strategy for this decade. The automaker said the mid-2020s will be the transitional period, from internal combustion engines (ICE) to electric vehicles, emphasizing its flexibility in responding to changes in demand, business environment and the need to ensure profitability. Honda confirmed its electrification target to make EVs and fuel-cell EVs represent 100% of its global vehicle sales by 2040. As of 2030, Ho...

Samsung Electronics has halted its autonomous vehicle research, joining Apple and other global automakers in abandoning Level 4 autonomous driving, according to a report by Business Korea on May 10. The company has shifted its development personnel to the robotics field as part of a strategy of selection and concentration. The decision comes amid a challenging landscape for autonomous driving technology, with numerous companies facing difficulties in development and lack of business prof...

South Korean carmaker Kia Corp. organized its 2024 CEO Investor Day in Seoul, South Korea, on April 5, sharing updates on its future strategies, goals for 2030, business roadmap to achieve those, as well as financial targets through the decade, according to a press release dated April 5. At the CEO Investor Day, Kia updated its mid-to-long term business strategy with a focus on electrification and its Platform Beyond Vehicle (PBV) business. The company reiterated its 2030 annual sales target ...

Taiwan Semiconductor Manufacturing Co. (TSMC), the leading global producer of advanced semiconductor chips, halted certain chip manufacturing equipment and evacuated personnel following the most powerful earthquake to strike the island of Taiwan in 25 years, according to a Bloomberg report on April 3. As the primary contract chip manufacturer for tech giants such as Apple Inc. and Nvidia Corp., TSMC relocated staff from specific areas and is evaluating the repercussions of the 7.4 magnitude q...

In a recent test conducted by the Insurance Institute for Highway Safety (IIHS), 13 out of 14 automated driving systems were found to have marginal or poor performance. The IIHS developed this rating system to evaluate the safety of these systems and their ability to keep drivers focused, according to a report published by IIHS on March 12. The ratings assess various aspects including driver monitoring, involvement and the encouragement of safety feature usage. Among the tested systems, only ...

French automotive supplier Forvia Hella has further expanded its market position in the field of digital access systems with additional customer orders, with a series production goal of 2025 in Romania and Mexico. The Smart Car Access system from Forvia Hella is based on ultrawide-band (UWB) technology, allowing the end user to open and close the car completely hands-free and start the engine without having to pick up their smartphone. The integrated UWB technology also protects the vehi...

Toyota Motor Corp. (TMC) and Panasonic Holdings Corp. (Panasonic HD) have mutually agreed to let the carmaker acquire Panasonic’s stake in Primearth EV Energy Co. Ltd. (PEVE) to make it a wholly owned subsidiary, Toyota announced March 5. The acquisition, which is scheduled to take place later in March, will help Toyota in strengthening its capabilities in mass-producing automotive batteries. PEVE was first established in December 1996 by the two companies, where Panasonic HD had a ...

AMS Osram has revised its microLED strategy following an "unexpected cancellation of [a] cornerstone project," it said in a press release dated Feb. 28. The supplier announced that it expects a non-cash impairment charge of between €600 million-€900 million in the first quarter of fiscal 2024. AMS Osram also revised its mid-term revenue compound annual growth rate (CAGR) of 6-8% on a like-for-like basis and expects a positive impact to its cash-flow profile within the next 24 month...

Stellantis plans to commence the production of its medium-size electric vans at its Luton-based manufacturing plant in the UK from the first half of 2025, the vehicle manufacturer announced Feb. 22. Significance: The company said that it aims to begin limited production of the group’s all-electric, medium-size vans from spring 2025 at its Luton factory, making the facility the second Stellantis plant in the UK to manufacture electric vehicles, and contributing to meet the growing deman...