On Feb. 24, Apollo Tyres inaugurated its dedicated outdoor tire-testing facility in Ivalo, Finland, marking a significant step in its commitment to improving the performance of winter and all-season tires. The facility, developed under a long-term agreement with the automotive testing and certification organization UTAC, became fully operational in December 2025 and held a formal opening this week. The testing facility includes snow and ice tracks that replicate real-world winter conditions, ...

ZF Group plans to at least double its revenue in India by the end of 2030, according to CEO Mathias Miedreich, Autocar Professional reported Feb. 23. Miedreich described India as both a growth market and a global sourcing and export base for the group. He emphasized India's central role in achieving this goal, supported by growth across the automotive, rail, agriculture, construction and defense sectors. “Minimum double our revenue in India. That's the goal that Akash [Akash Passey, pr...

Dana Inc. has appointed Byron Foster as its next CEO, replacing R. Bruce McDonald, from July 1. McDonald, who has been Dana’s chairman and CEO since 2024, will maintain his position as chairman of the board of directors. Foster, currently serving as senior vice president and president of Light Vehicle Systems, Dana's largest business unit, joined the US-based company in 2021. Under his leadership, the Light Vehicle Systems unit has experienced significant sales growth and improved profit ma...

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...

The bilateral trade agreement finalized between India and the US will see nearly half of auto parts exported to the US attracting zero duty, Autocar Professional reported, citing Indian Minister of Commerce and Industry Piyush Goyal. “Some auto parts exports will attract zero duty, while others will face an 18% tariff. Around 50% of exports will be duty-free,” Goyal said on Feb. 7.   Before the deal, Indian auto component exports to the US were subject to an average tariff of about&n...

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...

Schaeffler India Ltd., the Indian subsidiary of Germany-based motion technology company Schaeffler, is participating in the Symposium on International Automotive Technology (SIAT) 2026, held Jan. 28–30 in Pune, Maharashtra. The company is displaying next-generation technologies for the Indian automotive industry. Schaeffler is showcasing various solutions, including electrification technologies such as drives, motors and modules; efficient powertrain solutions for internal combustion engine...

Aumovio, the Germany-based company formed after the spinoff of Continental’s Automotive Group business in 2025, has announced a strategic realignment of its global research and development activities to ensure its competitiveness amid challenging business conditions. As part of this realignment, the company will focus its R&D expenditures on value-creating technologies, intensify development partnerships, and implement additional efficiency measures. Aumovio has also reaffirmed its goal to...

ZF Group has inaugurated an electric park brake (EPB) production line at its Oragadam manufacturing facility in Tamil Nadu, India, thereby expanding into the full industrialization of electronically controlled braking systems in India for passenger cars. The line has an annual production capacity of 800,000 units and is supported by a growing Indian supplier network for precision components. ZF is supplying EPB systems, which are featured in newly launched all-electric passenger vehicles...

Xpeng plans to establish independently operated overseas localized supply chain teams in European and Association of Southeast Asian Nations markets by 2026, following its 2025 launch of local production in Europe and Southeast Asia. This initiative aims to enhance overseas supply resource deployment, improve supply chain responsiveness and support Xpeng's strategy for local production abroad. The company has accelerated its international market expansion over the past two years and aims...

China Automotive Systems Inc. (CAAS) has announced a five-year strategic plan, the Hubei Henglong Enterprise Group 2026–2030 Strategic Plan, starting Jan. 1, 2026. The strategic plan is expected to guide the mainland China-based supplier in becoming a benchmark in global automotive intelligent steering systems by 2030. The plan emphasizes a core strategy of technology leadership and expanding global presence, with the overall objective described as "23144." This objective includes surpass...

Lithium Royalty Corp. (LRC) has entered into a definitive agreement to acquire a 1.5% Trailing Product Sales Fee (TPSF) royalty on the Goulamina lithium project in Mali from Leo Lithium Ltd. for A$40 million. The Goulamina project is operated by Ganfeng Lithium Co. Ltd., a significant player in the lithium market, and is expected to produce up to 500,000 metric tons of spodumene concentrate per annum. The transaction is structured to be completed in two phases, with the initial payment of A$2...

Zeekr Group has finalized its merger with leading mainland Chinese automaker Geely Automobile Holdings, becoming a wholly owned subsidiary of the latter and ceasing to be a publicly traded company. Following the merger, Zeekr has requested the NYSE to suspend trading of its American Depositary Shares (ADS) by Dec. 22, 2025, and to notify the SEC of its delisting and deregistration of securities. This merger is part of Zhejiang Geely Holding Group's broader restructuring strategy, which aims t...

Hyundai Motor Group has announced executive appointments for 2026, aiming to accelerate its transformation into a software-driven mobility group and bolster its leadership in technology and research and development. The appointments focus on promoting experts in key business areas to address global uncertainties. Manfred Harrer will become president and head of the R&D Division, enhancing Hyundai's software-defined vehicle  (SDV) competitiveness through collaboration in software domains...

The US Justice Department (US DOJ) has reached a settlement with Wanxiang America, a wholly owned subsidiary of mainland China-based auto parts supplier Wanxiang Group Corp., Reuters reported Dec. 18. This settlement concerns import tariffs on wheel hub assemblies and other parts imported from mainland China over a five-year period. The US government alleged that Wanxiang America had incorrectly classified its imported wheel hub assemblies and failed to disclose that these parts were subject ...

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...

Nexteer Automotive held its Global Strategy Summit in Suzhou, mainland China, highlighting its dedication to leveraging the rapidly evolving market to enhance innovation, agility and supply chain resiliency. This was the first time the US-based automotive supplier held its annual event in mainland China, reflecting Nexteer's effort to align globally and support original equipment manufacturer customers amid accelerated market transformations. Li Jun, senior vice president, chief strategy offi...

Rimac Technology, a division of the Croatian carmaker Rimac Group, is developing a solid-state battery for Bugatti, Autocar magazine reported Dec. 9, citing an interview with Nurdin Pitarevic, COO of the company. Pitarevic said that Rimac Technology is already well advanced in developing a new range of solid-state batteries. The company is collaborating with cell-maker ProLogium and Mitsubishi, aiming for market release late in the decade. Pitarevic anticipates the first application of these bat...

Superior Industries has completed the acquisition by a group of its term loan investors, including Oaktree Capital Management. This transaction involves converting a significant portion of the investors' term loans into equity and terminating the company's preferred stock, effectively creating a robust capital structure to enhance long-term growth in the global wheel industry. As part of this development, Majdi Abulaban has resigned as CEO of Superior Industries with immediate effect. The US-...

General Motors (GM) has started production of the all-new Chevy Spark electric utility vehicle (EUV) at Comexport's Planta Automotiva do Ceará (PACE) in Horizonte, Ceará, Brazil. The plant, which is contracted by GM Brazil, will assemble Chevrolet's zero-emissions crossover. The inauguration ceremony was attended by Brazilian President Luiz Inácio Lula da Silva. GM South America President Santiago Chamorro emphasized that this move aligns with Brazil's competitiveness, technology a...

Announcing its strategy for the European market, Ford Motor Co. has signed a strategic partnership with French carmaker Renault Group to jointly develop electric passenger cars and electric commercial vehicles.  Ford said that its strategy for Europe is structured around three main pillars: Bolstering the successful Ford Pro Commercial Vehicle division, expanding the Ford passenger car lineup with new vehicles, and optimizing the industrial system for scale and efficiency. ...

Hyundai Mobis is set to present over 30 advanced automotive technologies at the Consumer Electronics Show (CES) 2026 event in Las Vegas, scheduled from Jan. 6 to 9, 2026. The leading automotive supplier from South Korea will operate its booth as a private exhibit for invited customers, focusing on meaningful business opportunities with key North American clients. Under the theme Layer of Progress, Hyundai Mobis aims to showcase how its technologies connect and evolve, highlighting innovations...

Astemo Americas, a wholly owned subsidiary of Japan-based automotive supplier Astemo, announced the opening of a new sales and engineering office in East Liberty, Ohio, US. The facility is located next to an independent test course operated by Transportation Research Center Inc. and is designed to enhance local technical development and collaboration with customers. The new office will function as both a sales office and a development site, featuring office space for employees and two garage ...

Nexteer Automotive has commenced the APAC Smart Manufacturing Project at Suzhou Industrial Park in Suzhou, Jiangsu Province, mainland China, to enhance its smart manufacturing capabilities and operational agility. This development follows the signing of a memorandum of understanding in September and represents progress toward a more integrated production footprint. The project reflects Nexteer's commitment to innovation, quality and sustainable development in mainland China and the Asia-Pacific ...

Gestamp reported third-quarter financial results on Nov. 4, achieving improved profitability despite challenges in the automotive sector and adverse foreign exchange rates. The company generated €8.5 billion in revenue in the first nine months of the year, impacted by unfavorable foreign exchange rates, but maintained an EBITDA of €937 million with an 11% margin, excluding the Phoenix Plan, its three-year restructuring plan to enhance profitability in the United States-Mexico-Canada Agr...

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 ...

Amazon is testing General Motors' (GM) BrightDrop electric vans as part of its initiative to introduce 100,000 electric delivery vehicles by the end of the decade. The testing involves slightly more than a dozen vans, which are added to a fleet that already includes electric vehicles from Rivian. In 2023, GM sold 12 of its 2024 model BrightDrop vans to Amazon. Despite this testing, Amazon's partnership with Rivian remains unchanged, according to spokesperson Steve Kelly. Amazon holds a 16%...

BYD plans to build its first electric vehicle manufacturing plant in Hungary, the leading Chinese EV and battery manufacturer announced on the sidelines of the ongoing IAA Mobility 2025 in Munich. BYD Executive Vice President Stella Li revealed developments for the Dolphin Surf, a compact EV that recently received a five-star safety rating from the European New Car Assessment Program (EuroNCAP). This model will be the first to be produced at BYD's new factory in Szeged, Hungary. The comp...

Hyundai Mobis is showcasing its advanced technologies at IAA Mobility 2025 in Munich for the third consecutive year. This year, the South Korean supplier has emphasized three innovation keywords: Sustainable Electrification, Optimized Integration of Functions and Maximized In-Vehicle User Experience. The company is showcasing its technological innovations that are leading the advancement and change of future mobility to the European market. During a media session at the event, ...

Prime Minister of the Czech Republic Petr Fiala, Minister of Industry and Trade Lukáš Vlček, and Toyota Motor Europe President Yoshihiro Nakata announced the production of a new battery-electric vehicle (BEV) at Toyota Motor Manufacturing Czech Republic (TMMCZ), according to a Sept. 3 press release. This marks a significant milestone as it is the first BEV to be produced in one of Toyota's European plants. The TMMCZ plant in Kolin will be expanded from 152,000 square meters to 173,000 s...

Hyundai Mobis is participating in IAA Mobility 2025 Europe to showcase its future mobility vision and technological strategy. The company aims to demonstrate its technological competitiveness in Europe using its next-generation core technologies, which include electrification and electronics, with the goal of translating this into global core technology orders. Under the theme Deeper Look to Progress, Hyundai Mobis is presenting its technological innovations to advance future mobility to the Eur...

Jutta A. Dönges is set to join the executive board of Aumovio SE as the CFO, latest by March 1, 2026, Continental said in a press release on Aug. 28. Dönges will take over from Philipp von Hirschheydt, the designated CEO of Aumovio, who is also serving as the interim CFO of the company. Aumovio's supervisory board has appointed Dönges as CFO for a period of three years. She is working as CFO of Uniper, a Germany-based multinational energy company. Dönges, a graduate of...

Indian supplier Rane Holdings Ltd. has invested an additional 500 million rupees (about $5.7 million) in its wholly owned subsidiary, Rane Steering Systems Private Ltd., to support its operational and capital expenditure requirements and potential future growth. The investment was made through the allotment of 2 million equity shares priced at 250 rupees each, raising Rane Steering Systems' paid-up capital from 179 million rupees to 199 million rupees. Despite the increased funding, Rane Stee...

Continental demonstrated resilience in the second quarter of 2025, with notable improvements in the Automotive group sector's earnings compared to the previous year and the start of 2025. Despite challenges from tariffs and exchange rates, the Tires group sector maintained a strong double-digit adjusted EBIT margin, while ContiTech increased its adjusted EBIT margin compared to the first-quarter. The company intends to further enhance the Tires and ContiTech sectors in the latter half of the yea...

Continental's Automotive group sector will debut under the new independent company name AUMOVIO at the IAA Mobility in Munich from September 9-12, 2025, with a press day on September 8. This event will allow visitors to see the latest technology innovations across four industry themes: safe, inspiring, connected, and autonomous. AUMOVIO represents the consolidation of Continental's automotive expertise into a new technology and electronics company focused on key technologies, as explained by AUM...

On the sidelines of the ZF supervisory board meeting on July 30, a significant agreement was signed between the ZF board of management and employee representatives. The agreement initiates an independent and confident restructuring of ZF's Division E, which oversees electrified drive technologies. The agreement was signed by Barbara Resch, district manager of IG Metall Baden-Württemberg; Achim Dietrich, chairman of the ZF General Works Council; Mathias Miedreich, ZF board member re...

Bosch plans to restructure its Reutlingen plant in Germany, potentially cutting up to 1,100 jobs by 2029, Mint reported on July 22. The layoff will affect approximately one-tenth of the workers at the site, including those involved in the assembly line and back-office roles. The decision is attributed to intense competition within the European market for steering systems, particularly from Chinese manufacturers, which has been challenging German car manufacturers...

Yokohama Rubber announced that it is supplying 20-inch ADVAN Sport V107 tires as original equipment (OE) for the new Mercedes-AMG CLE 534MATIC+ coupe, starting June. The coupe will be fitted with the innovative tires in size 265/35ZR20 (99Y) in the front and 295/30ZR20 (101Y) in the rear. Yokohama Rubber has been supplying 19-inch ADVAN Sport V107 tires for this model since 2024. The ADVAN Sport V107 tire is an ultrahigh-performance (UHP) tire under Yokohama's ADVAN brand and is aimed at...

Mainland Chinese electric-car maker BYD is delaying mass production at its Hungarian electric vehicle plant and is instead opting to expedite production operations at its Turkish facility, primarily due to cost factors. The company's Hungarian plant in Szeged, valued at €4 billion, is set to commence mass production in 2026, operating below its initial capacity for the first two years. Initially, the plan was to manufacture 150,000 units per annum, but production for 2026 is expected to be ...

Bridgestone Corp. has reached an agreement to sell the carbon black business in Thailand, operated by the wholly owned subsidiary Bridgestone Carbon Black (Thailand) Co. Ltd., to Tokai Carbon Co. Ltd. and Thai Tokai Carbon Product Co. Ltd. According to the Japanese tiremaker, the divestment is its strategy to enhance its global business by “turning changes into opportunities” and focusing on “growth with quality.” Bridgestone aimed to improve its premium tire business by increa...

On June 30, Gabriel India Ltd., the flagship company of the Anand Group, announced a restructuring to transform from a single-product suspension manufacturer into a diversified automotive components supplier, according to a report by the Hindu Business Line. This restructuring involves the merger of Anchemco India Private Ltd. with Asia Investments Private Ltd. (AIPL), followed by the demerger of AIPL’s automotive operations into Gabriel India. As part of this scheme, Gabriel Indi...

Thyssenkrupp Automotive Technology is set to implement a new customer- and technology-oriented structure with four distinct business units, effective Oct. 1, 2025. This realignment aims to position the segment for profitable growth and capital market readiness, specifically targeting the demand in the mainland Chinese market and the shift toward electromobility. The newly structured business units will focus on chassis, components, aftermarket, and forging, while enhancing customer focus and ...

As reported in a press release on June 25, the Benteler Group has commenced the construction of a new automotive plant in Kenitra, Morocco. Mr. Ryad Mezzour, Minister of Industry and Trade of the Kingdom of Morocco, attended the groundbreaking ceremony. The company plans to invest a significant mid-double-digit million euro amount during the ramp-up phase, with production scheduled to begin in 2026. The new manufacturing facility is expected to create more than 300 direct jobs and pote...

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....

Xiaomi Jingxi Technology Co. Ltd., a subsidiary of Xiaomi, has acquired a new land parcel in Beijing's Yizhuang area for 635 million yuan (about $88.39 million). The land spans 485,133.91 square meters and is leased for 50 years. The land parcel is strategically located next to Xiaomi's existing electric vehicle factory and will be used for a new-energy intelligent connected vehicle manufacturing project. Xiaomi, which announced its entry into the automotive sector in March 2021, had signed a...

On June 18, Mutares signed an agreement to acquire Continental's drum brakes manufacturing plant and research and development facility in Cairo Montenotte, Italy. As part of the agreement, the Germany-based private equity firm will take over all Continental employees and business activities at the Cairo Montenotte site. The acquisition's conclusion is contingent upon customary closing conditions and approvals and is expected to be finalized in the fourth quarter of 2025. The Cairo M...

Marelli Holdings has received interim approval from the US Bankruptcy Court for the District of Delaware to access up to $519 million out of a total $1.1 billion in debtor-in-possession financing. This approval pertains to Marelli's First Day motions related to its voluntary Chapter 11 petitions. Marelli filed for Chapter 11 bankruptcy protection to restructure its long-term debt on June 11. The secured financing, along with revenue from Marelli's ongoing operations, is intended to provi...

Continental announced a strategic shift in its product portfolio in India and plans to focus only on the Passenger Car and Light Truck tire (PLT) business. As part of this transition, the Germany-based tiremaker will cease its Truck and Bus Radial tire (TBR) operations in the country. The company will also close its TBR manufacturing line at the Modipuram tire plant in Meerut, Uttar Pradesh. This strategic shift is intended to ensure the long-term viability of Continental Tires' ope...

South Korean carmaker Hyundai is planning to commence local production of its first electric vehicles in Turkey by August 2026 at its plant in İzmit, Kocaeli. This initiative aims to position Hyundai as the first automaker to sell locally manufactured 100% electric cars in the country, succeeding Togg. Hyundai's existing İzmit facility, which exports 85% of its output to Europe, will see a reduction in its production capacity from 245,000 units in 2024 to 190,000 units in 2025 to accommodat...

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...

Kumho Tire suspended operations at its Gwangju facility in South Korea following a fire that ravaged 50-60% of the production lines in one of its key buildings, The Korea Economic Daily reported May 18.  The fire ignited around 7 a.m. on May 17 in the section of the second building where raw rubber is mixed with chemical compounds, as reported by the National Fire Agency. The blaze was brought under control by the afternoon of May 18, resulting in injuries to one individual and two ...

According to Gabriel Padilla, general director of the National Auto Parts Industry (La Industria Nacional de Autopartes: INA), the association of automotive components suppliers in Mexico, about 92% of auto parts manufactured in the country comply with the US-Mexico-Canada Agreement (USMCA) regulations, allowing them to be exempt from tariffs when exported to the US. The remaining 8% face an average tariff of 27%. “We are one of the sectors with the highest level of compliance with the USMC...

Mitsubishi Motors North America, Inc. (MMNA) announced, as part of its Momentum 2030 strategy for the US market, plans to introduce a new battery-electric vehicle (BEV) from its partner, Nissan Motor Co. Ltd. This BEV will be based on the next-generation Nissan LEAF and sold alongside Mitsubishi's Outlander Plug-in Hybrid, the first plug-in hybrid sport utility vehicle. The launch aligns with Mitsubishi's plan to introduce a new or significantly revised vehicle annual...

Geely Automobile Holdings is proposing to take its premium electric vehicle unit Zeekr private, a year after Zeekr's public debut in the US. Geely has submitted a non-binding offer to Zeekr on May 7 to acquire all issued and outstanding shares and American depositary shares (ADS) at $2.57 per share or $25.66 per ADS. According to the company, this offer represents a 13.6% premium to Zeekr's recent closing price in the US and a 20.0% premium to its volume-weighted average price over ...

Continental has decided to name its Automotive Group Sector business, which is set to become an independent company, Aumovio, the company announced on the sidelines of Auto Shanghai 2025. According to the Germany-based supplier, the new name embodies a strong market position, rich heritage and technological expertise, all aimed at transforming the future of mobility through innovative solutions. Pending approval at the Continental annual shareholders' meeting on April 25, Aum...

Germany's automotive component supplier ZF is making a significant impact at the ongoing Auto Shanghai 2025, which is being organized in Shanghai between April 23 and May 2. The international motor show highlights advancements in passenger cars, commercial vehicles and charging infrastructure, bringing together key stakeholders to promote sustainable mobility. As one of the world’s leading automotive suppliers, ZF is committed to investing in the growth of the Chinese market and the broader...

General Motors (GM) has announced a significant reduction in the production of its all-electric BrightDrop delivery vans at the CAMI assembly plant located in Ingersoll, Ontario. This adjustment involves cutting down from two shifts to one and will lead to the elimination of 500 jobs. The plant will undergo a temporary idle starting in May for approximately 20 weeks until October, with battery pack assembly also being paused for the weeks of April 21 and April 28, ahead of this shutdown. GM c...

Bridgestone Hispania Manufacturing, the Spain-based subsidiary of Bridgestone Corp., has announced its intention to start a collective dismissal process affecting its plants in Puente San Miguel, Cantabria, and Basauri, Basque Country. These plants are involved in the manufacturing of agricultural truck and bus radial tires. This layoff decision stems from the need to adapt to significant changes within the European tire market, including the contraction of the agricultural radial and tr...

Hyundai Mobis announced its new vision on March 12 at Mobis Technical Center of Korea in Yongin, Gyeonggi-do, South Korea, as it aims to become a leading global player in future mobility. With the new vision — Lead the Shift in Mobility, Move the World beyond Possibilities — the South Korean supplier aims to strengthen internal cohesion with a shared sense of purpose while driving a paradigm shift in the rapidly evolving mobility market. Under its new vision, Hyundai Mobis ...

On March 12, the supervisory board of Continental approved the proposed spinoff of its Automotive sector into an independent company, recommending shareholder approval at the 2025 annual shareholders' meeting. The board also allocated €1.5 billion in cash funds to the newly independent automotive company, alongside a €2.5 billion revolving credit facility to bolster its operations. Continental first announced that its executive board is considering the potential spinoff of its Automotive ...

Geely Auto, one of the largest Chinese automakers, has forayed into Australia and New Zealand markets with the launch of its all-electric sport utility vehicle EX5 in the region, according to a news report published by CnEVPost on March 12. The Geely EX5 was launched at an event at Sydney's Luna Park on March 11. The carmaker also launched its international brand — Geely Go — on the sidelines of the event. Citing Jerry Gan, CEO of Geely Auto Group, the report mentioned that the ca...

Thyssenkrupp, a German conglomerate, announced its plan to reduce its workforce by approximately 1,800 jobs due to ongoing difficulties within the automotive sector. The company attributed the decision to persistently challenging market conditions in the global automotive industry and highlighted a strategic move to freeze hiring as part of its efforts to navigate these challenges. Thyssenkrupp aims to implement these and other measures, including reducing investments, to achieve savings of m...

Chinese electric-car maker Nio is implementing a new organizational restructuring to focus more on cost control, with William Li, the company’s founder, chairman and CEO, increasing his involvement in the supply chain management, according to a news report published by CnEVPost on March 10. The CnEVPost news report cites local media 36kr as the original source of this news. It said that the electric-vehicle maker has launched an internal management mechanism called Cell Business Uni...

The automotive industry is grappling with a myriad of supply chain disruptions that have become increasingly common since the pandemic struck. In addition to Brexit complexities, rising material costs, natural disasters, geopolitical tensions and economic instability are forcing companies to rethink their logistics and sourcing strategies on the fly. While improvements are anticipated in the global car chip shortage, challenges persist. As Nimish Ashar, associate director of E/E & Semicon...

As the automotive industry evolves, suppliers must prioritize regulatory compliance due to stricter environmental laws linked to climate change. Investing in new technologies is essential to avoid penalties and enhance competitiveness. We examine the regulatory challenges facing suppliers and share insights from industry executives in S&P Global Mobility’s 2025 Automotive Supplier Outlook. Regulatory pressures: A catalyst for change Automotive suppliers are facing numerous challenges...

The European automotive supply industry is currently grappling with a severe labor shortage, exacerbated by record attrition levels that have plagued it over the past few years. This alarming situation has led to job losses that surpass even the darkest days of the pandemic. Despite optimistic forecasts for new job creation, the reality reveals a staggering net loss of nearly 56,000 positions since 2020, with the worst yet to come, according to The European Association of Automotive Suppliers (C...

The US Bankruptcy Court for the District of Delaware has confirmed automotive wheel supplier Accuride's Chapter 11 Plan of Reorganization, signaling a significant overhaul for the company. Through this plan, Accuride aims to refocus its business on its core wheel segment while substantially strengthening its balance sheet. Accuride filed for Chapter 11 bankruptcy protection in October 2024. This restructuring includes the equitization of over $400 million in funded debt and the restructu...

Gestamp, a Spain-based supplier of automotive chassis and body-in-white (BIW) parts, has inaugurated its second Gestamp Technology Institute (GTI) in Puebla, Mexico. This move comes after the success of its first GTI established in 2016 in Boroa, Basque Country, Spain, highlighting the company's dedication to technological advancement, talent development and knowledge transfer within the automotive sector. The establishment of the GTI in Puebla is part of Gestamp's broader strategy to bolster...

On Feb. 5, Accuride Wheels Europe & Asia GmbH, a subsidiary of the US-based automotive wheel and brake parts supplier, Accuride Wheels Corp., filed for insolvency at the Wuppertal District Court in Germany. The insolvency covers the two plants of Accuride Wheels Europe & Asia Group located in Solingen and Ronneburg, both in Germany. No other plants of Accuride Wheels Europe & Asia Group are impacted by this insolvency filing. Accuride Wheels Corp. is already restructuring its US o...

MG Motor, a subsidiary of mainland China-based SAIC Motor, plans to locally produce cars in Egypt as part of its global expansion strategy, according to a news report published by CnEVPost on Dec. 31, 2024. The news comes soon after MG Motor had signed a strategic technical agreement with Egyptian multinational conglomerate Mansour Group on Dec. 29, 2024. The report mentioned that the carmaker aims to produce the new-generation MG5 model in an all-new production facility that will belong to t...

South Korean carmaker Hyundai Motor Co. and sister company Kia Corp. have developed the Integrated Greenhouse Gas Information System (IGIS) to monitor, quantify and manage carbon emissions throughout the entire vehicle life cycle, Kia announced Dec. 30, 2024. IGIS, which is a cutting-edge platform designed to monitor and manage carbon emissions, leverages life-cycle assessment (LCA) methodology, and provides detailed quantification and tracking of carbon emissions throughout the entire l...

The BMW Group has officially commenced operations at its new Aeroacoustics and Electric Drive Center (AEC) located at its Munich-based Research and Innovation Center (FIZ), effectively replacing its nearly 40-year-old aeroacoustic wind tunnel, the carmaker announced Dec. 11. The new facility is divided into two halves — the first features a multifunctional workshop with testing and measurement equipment and a prototype for high-voltage batteries and inverters, and the second accommodates a ...

In a press release dated Dec. 9, German automotive tier 1 supplier Continental announced that its executive board has reached the decision to spin off its Automotive group sector. This decision follows a detailed evaluation process that began in early August. The plan is to seek approval from the supervisory board in March 2025 and then present the proposal for a spin-off to Continental AG's annual shareholders' meeting on April 25, 2025. If approved, the spin-off is anticipated to be complet...

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...

According to a press release on Nov. 14, Yokohama Rubber Co. Ltd. (YRC) has announced the closure of its Hadera, Israel, manufacturing plant, effective Dec. 31. The decision is part of a strategic move to enhance profitability amid rising production costs in Israel, driven by competitive pressures from South Asian manufacturers who benefit from proximity to raw materials and lower labor costs. The shift in global manufacturing dynamics has made it necessary for YRC to consolidate its production ...

BYD has launched its Shark plug-in hybrid (PHEV) electric pickup truck in the Brazilian market on Oct. 19, with prices starting from $66,700, according to a news report published by CarNewsChina on Oct. 23. Citing Henrique Antunes, who is the commercial director of BYD Brazil, the report said that the senior company executive estimates the model will achieve sales ranging from 10,000-15,000 units a year in Brazil, making it one of the country’s five best-selling midsize pickup trucks. BY...

Great Wall Motor (GWM), one of the leading automakers from mainland China, is planning to commence operations at its car factory in Brazil in May 2025, according to a news report published by the South China Morning Post on Oct. 16. The publication cited Brazilian newspaper Valor Economico as the original source of this story. It further stated that GWM plans to produce up to 25,000 vehicles in the first year of its operations in Brazil. The facility will be GWM’s third manufacturing plant ...

In a press release on Oct. 11, Brembo, a brake system manufacturer, has announced its acquisition of Öhlins Racing from Tenneco, a move facilitated by funds managed by affiliates of Apollo Global Management. Brembo aims to expand its product offerings in the automotive market by incorporating Öhlins' highly regarded suspension technology. Öhlins Racing, headquartered in Upplands Väsby, Sweden, is known for its precision and performance in suspension technology, serving both the original e...

Brembo has divested its entire 5.6% equity stake in Pirelli for €282.9 million, the company said in a press release. The company completed the placement of the 55.8 million ordinary shares of the Italian tiremaker at the price of €5.07 each share through an accelerated bookbuilding process it launched on Tuesday (Oct. 2). Reuters reported that Camfin, the second largest shareholder of Pirelli, bought an additional 2.5% stake in the tire company, raising its shareholding to 25.28%. Camfin ...

Canoo Inc., a technology equipment manufacturer specializing in electric cargo vehicles for commercial, government and fleet customers, announced Sept. 9 that it plans to migrate its engineering workforce to its two Oklahoma, US, locations — Oklahoma City and Pryor — and relocate its corporate headquarters to northern Texas, US. As a result of this move, approximately 137 engineering positions will relocate from California, US, to Texas and Oklahoma beginning in the fourth quarter of...

Seres Automobile plans to buy a 10% stake in Huawei’s automotive business Newcool for $1.6 billion, a news report published by CnEVPost on Aug. 25 said, citing a regulatory filing by the Shanghai Stock Exchange-listed Seres Group. Seres becomes the second automaker after Changan and CATL-backed Avatr Technology to have acquired a stake in Huawei's automotive business unit. According to the news report, the deal values Newcool at 115 billion yuan (about $16.13 billion), the same as it was...

Hyundai Motor Group’s battery-electric vehicles (BEVs) that are built on the company’s electric vehicle-dedicated platform, the Electric Global Modular Platform (E-GMP), are benefiting from receiving the highest safety crash test ratings given by the world's major crash safety assessments, according to a news report published by Autocar Professional on Aug. 26. The report mentioned that five BEVs from the Hyundai Group — the Genesis GV60, Hyundai Ioniq 5 and Ioniq 6, Kia EV6, and Kia EV...

Stellantis has commenced the production of electric vehicles at its Toluca plant in Mexico, according to a news report published by Mexico Now on Aug. 21. The new facility, which was established with an investment of $1.6 billion, is designed to build vehicles based on the new STLA Large platform, the report said, adding that the EVs produced at the site will contribute to further adoption of EVs in Mexico. According to another news report published by an online news portal Electrive on Aug. ...

Europe’s largest carmaker Volkswagen is consolidating its research and development resources for electric vehicles in mainland China, with plans to make Anhui its second global R&D hub, according to a news report published by CnEVPost on Aug. 16. The CnEVPost report cited a local media outlet 36kr as the original source of the news story. It said that in a recent restructuring, Volkswagen has centralized its battery-electric vehicle (BEV) R&D in mainland China under Volkswagen (C...

Nokian Tyres' manufacturing facility, located in Nokia, Finland, has been awarded the International Sustainability and Carbon Certification (ISCC) PLUS, as announced in a press release on Aug. 13. This certification allows Nokian Tyres to incorporate sustainable, ISCC PLUS-certified raw materials into its tires, marking a significant step toward the company's sustainability objectives. One of the company's key goals is to increase the percentage of recycled or renewable raw materials used i...

Chinese electric-truck maker Windrose plans to set up an assembly plant in the US to assemble its semitrucks for delivery from 2025, according to a news report published by Reuters on July 23. The report cited Windrose Founder and CEO Han Wen, who disclosed the company’s plans in an interview with the news agency. The move, which would directly challenge Tesla in its home market, underscores a potential relook by Chinese vehicle manufacturers after former US President Donald Tr...

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...

The Nokian Tyres Romania factory has successfully produced its first tire, marking a significant milestone in the company's expansion plans. Announced in a press release on July 1, 2024, the event signifies the on-schedule progression of the factory located in Oradea, Romania, toward its goal of beginning commercial tire production in early 2025. This achievement follows the factory's groundbreaking in May 2023 and is a testament to the project advancing within budget. Recruitment for the Rom...

LD Carbon, one of the leading suppliers of recovered carbon black, has successfully concluded its Series-C funding round, raising $28 million, the company said in a press release on June 19. The latest funding round was headed by Toyota's growth fund, Woven Capital, and saw the participation of several notable investors including Meritz Securities, Investwith, Industrial Bank of Korea, Hyundai Motor Group’s ZER01NE, Elohim Partners and New Main Capital. LD Carbon will use the funds to upsca...

General Motors (GM) plans to manufacture its all-new Cadillac Optiq in Mexico, according to a news report published by online publication GM Authority on June 12. The news report cites an official confirmation from GM’s Mexican subsidiary, which said that the Cadillac electric vehicle crossover will be locally produced at the GM Ramos Arizpe plant. With the planned production of Cadillac’s Optiq in Mexico, the GM Ramos Arizpe plant will become the second production site to produce the ...

Hyundai Motor India Ltd., the Indian unit of South Korean carmaker Hyundai Motor Group, has filed a draft red herring prospectus with the Securities and Exchange Board of India for its planned initial public offering, according to a news report published by CNBC-TV18 on June 15. The Korean automaker plans to sell a 17.5% stake in Hyundai Motor India Ltd. by offering 142 million shares in India, according to the regulatory filing. Hyundai Motor India’s IPO is speculated to be India’s large...

Geely’s premium electric car unit Zeekr has commenced mass production of the right-hand-drive (RHD) variant of its electric sport utility vehicle (SUV) — the Zeekr X — in order to prepare for overseas deliveries later in 2024, according to a news report published by CnEVPost on June 7. Citing a company’s post on Weibo, the report mentioned that Zeekr has started rolling out the first RHD Zeekr X SUVs from its production line, as overseas deliveries of these electric vehicle model...

The Benteler Group has officially inaugurated its new plant in Bratislava, Slovakia, which will produce rear axles for Volkswagen (VW). The opening ceremony was attended by about 50 guests including employees, the management team, and representatives of its customers and suppliers. The new plant, which is just 1.5 kilometers from VW's site, is intended to optimize the supply chain through close proximity and flexibility. This positioning is expected to help improve production and assembly eff...

Kongsberg Automotive (KA) has decided to operate its business out of Kongsberg, Norway, with Zurich serving as the company's financial center. This move comes after KA centralized its business model in Zurich in 2017 with the intention of streamlining business and decision processes. However, in alignment with changes in the company's strategic business focus, the board of directors, CEO and executive management evaluated the situation and decided to reestablish Kongsberg as the headquar...

Hyundai Motor Group relies on Continental's expertise for its Tucson, giving the South Korean car manufacturer three approvals for its sport utility vehicle (SUV). The Tucson runs worldwide from the factory on either energy-saving EcoContact 6 or comfort-optimized PremiumContact 6 tires. For the Asia-Pacific region, Hyundai has also approved the CrossContact LX Sport, designed for light off-road driving. The EcoContact 6 tire features a special rubber compound that minimizes energy absorption...

Continental is celebrating 15 years since establishing its tire business in Thailand and five years of tire production in its Rayong plant. The tire manufacturer has invested a total of €250 million in the plant located in the eastern part of the country. With around 900 local manufacturing employees, the Rayong plant has an annual production capacity of 4.8 million passenger and light truck tires (PLT) as well as motorcycle tires, serving both the original equipment and replacement sector....

Pirelli will exhibit new products and technologies for high-performance cars and motorcycles at TIRE COLOGNE 2024, held in Milan from April 22nd to 25th. The company's CEO, Wolfgang Meier, emphasizes Pirelli's position as a leading development partner for premium and prestige segments of the automotive industry. The stand will feature a special focus on sustainability, with information provided on the company's commitment to the sustainability transition and future-oriented products. New p...