Europe

Cariad, the Volkswagen Group’s software unit, formed a China subsidiary in Beijing to develop products tailored for Chinese consumers.  The subsidiary, the first Cariad has opened outside of Europe, will create products ranging from a new unified scalable software platform, advanced driver assistance systems to automated driving and next-generation connectivity functions, VW Group’s China unit

Volvo Cars and Jaguar Land Rover are laying off the bulk of their Russian office staff, Kommersant newspaper reported. JLR is in effect leaving Russia, only keeping staff to coordinate administrative procedures, one source told the newspaper. Volvo plans to continue warranty support in the country and is ready to pay for parts via parallel

Ford Motor posted “better-than-expected” financial results in Europe for the first quarter, as the region returned to profitability following three quarters of losses, the company said. The $207 million net profit (197 million euros) in Europe came despite a decline in vehicle sales due to supply chain disruptions, CFO John Lawler told analysts on an

BERLIN — As Germany speeds up investment in renewables, the energy consumption of its automakers reveals just how reliant the country’s most important industry is on fossil fuels, a Reuters analysis of environmental data shows. Their dependence lays bare the hurdles automakers face in transforming their own energy consumption while moving the transport sector, responsible

Mercedes-Benz is looking at energy alternatives should Russia cut gas deliveries and is working closely with German authorities to ensure energy supplies. “Every company is looking at options for diversifying energy sources,” CEO Ola Kaellenius told Reuters TV ahead of the company’s annual meeting on Friday. “It is still too early to say exactly which

PARIS — Plastic Omnium has agreed to buy the European and North American lighting units of Varroc Engineering, a Tier 1 Indian supplier, for 600 million euros ($634 million). The French supplier said Friday that it will create a new lighting business unit with expected revenue of 1 billion euros, including sales from Osram Automotive Lighting

U.S. Senator Marco Rubio is seeking information from Volkswagen Group about a pair of planned joint ventures with companies accused of having a record of alleged human rights violations such as forced labor and human trafficking. The Republican party member, who is known for his hawkish stance on China, wants VW to explain its decision

Stellantis said it will build a new battery-electric car at its plant in Kragujevac, Serbia. The EV will replace production of the Fiat 500L, Stellantis said in a statement. Stellantis CEO Carlos Tavares and Serbia President Aleksandar Vucic signed a 190-million-euro ($200 million) deal on Thursday to invest in EV production at the factory. The

LONDON –  Morgan Motor Company has hired Lamborghini executive Massimo Fumarola as CEO as part of an expansion push. Fumarola takes over from current CEO and Chairman Steve Morris, who becomes executive chairman of the niche sports-car maker, which is based in the UK. Morris described the appointment as “extremely important” for the company. “Massimo

TOKYO — The Nissan Z car, a 400-hp, twin-turbo symbol of the struggling Japanese automaker’s revival, is the latest product launch to be derailed by global supply chain woes. The Z was expected to land in the home market in June, but Nissan Motor confirmed April 27 that the Japan-market launch “will be changed to

Renault will transfer its 68 percent stake in AvtoVAZ to a Russian science institute for a nominal sum, Interfax cited Russian Trade Minister Denis Manturov as saying on Tuesday. Renault will have the right to buy the stake back within the next five to six years, Interfax added, citing Manturov. He also said that Renault’s

GAYDON, England — After decades of ups and downs, Aston Martin is charting a more efficient and profitable way forward, leaning on technology from shareholder Mercedes-Benz to make the costly leap to electric vehicles. Less than two years after billionaire Lawrence Stroll took charge of the company, Aston Martin has undergone a manufacturing makeover to

SHANGHAI — Volkswagen Group‘s Shanghai factory has started gradually resuming production, the automaker said. The company’s factories in the northeastern Chinese city of Changchun, which it runs in a joint venture with China’s FAW Group, continues to ramp up production volumes, it added. VW halted work at its factory in Shanghai, which is a joint

SEOUL — Hyundai Motor posted a better-than-expected 19 percent rise in quarterly profit as favorable exchange rates more than made up for higher raw material costs and a drop in vehicle sales caused by the prolonged global chip shortage. The company’s global car sales slid nearly 10 percent in the first quarter and Hyundai warned

BERLIN — Europe’s automakers should stop using fossil fuels by 2040, Audi CEO Markus Duesmann said. Discussions around a possible embargo on Russian gas after Moscow’s invasion of Ukraine have raised pressure on companies and governments to expand investment into renewable energy, with Mercedes-Benz promising new investments in wind and solar to help power its

Renault Group is considering selling part of its Nissan stake, a move that could raise billions of euros for its shift to electric vehicles and ease long-standing tensions with its alliance partner, people familiar with the matter said. Nissan itself may be willing to buy some of the 1.83 billion shares in the Japanese automaker

BMW is exploring plans to build its top seller — the X3 compact crossover — at its underutilized Mexico assembly plant, according to a production forecaster who has familiarity with the discussions. The move would free capacity at BMW’s maxed-out U.S. factory to satisfy customer demand for its entire line of crossovers. Without revealing specific

BERLIN — Europe’s automakers should wean themselves off fossil fuels from 2040, Audi CEO, Markus Duessmann, said, calling for quicker expansion of renewable energy capacity in Bavaria, where Audi is based, and elsewhere. Discussions around a possible embargo on Russian gas in light of Moscow’s invasion of Ukraine have raised pressure on companies and governments

PARIS — Opel/Vauxhall CEO Uwe Hochgeschurtz will add responsibility for bringing Stellantis’ hydrogen fuel cell vehicles to market, starting with Europe, the automotive group said. Stellantis has also named Jean-Michel Billig, a former executive at Renault, aerospace and defense companies, as chief technology officer for hydrogen fuel cell development. Hochgeschurtz was named CEO of Stellantis’

BERLIN — Continental cut its annual earnings forecast and warned of “lasting consequences” for production and supply chains if the war in Ukraine does not ease, with rising energy and raw material costs weighing on margins. The supplier nearly doubled its expected procurement and logistics costs in its tire and ContiTech divisions and cautioned tthat

PARIS — Citroen will end production of its last minivan, the Grand C4 SpaceTourer, in July after nearly a decade, as the segment continues to shrink.  The minivan was launched in 2013 as the C4 Picasso, and Citroen says that more than 730,000 have been sold. It originally came in both five- and seven-seat (Grand)

Tesla said first-quarter net income and revenues surged after the EV maker delivered record units at higher prices. The company led by Elon Musk posted net income for the quarter of $3.32 billion compared with a profit of $438 million a year earlier. Revenue was $18.8 billion in the first quarter ended March 31 from

BMW‘s flagship sedan, the 7 Series, has been given an ultraluxury redesign, along with a full-electric version. The 7 Series lineup includes a more powerful V-8 engine, a loungelike interior, and advanced driver-assistance technology. “The new 7 Series sounds the starting signal for our new generation of highly-efficient combustion engines,” BMW Group CEO Oliver Zipse

FRANKFURT — Continental has temporarily resumed tire production for passenger cars at its Russian plant in Kaluga, it said on Tuesday, to protect local workers who could otherwise face criminal charges. Continental said the move was aimed at meeting local demand and in line with sanctions imposed on Moscow for its invasion of Ukraine, which

McLaren Automotive is considering hiring Michael Leiters, the former head of technology at Ferrari, as its next CEO, according to people familiar with the matter.  Leiters stepped down from Ferrari in December as part of a leadership reorganization under new CEO Benedetto Vigna, and is one of the main candidates being evaluated for the top job

In a wide-ranging interview that aired Sunday night on U.S. TV network CBS’ newsmagazine, “60 Minutes,” Volkswagen Group CEO Herbert Diess spoke to Leslie Stahl about about the turmoil in Ukraine, criticism in China, the company’s electrification ambitions, competitive pressure from Tesla, which recently opened a factory on VW’s home turf, and the automaker’s challenges

SHANGHAI — Manufacturers including Volkswagen Group and Tesla began preparing on Monday to reopen their Shanghai plants as China’s most populous city accelerates efforts to get back to normal after a nearly three-week COVID shutdown. Still, most workers will have to live onsite, and there was no immediate word how factories will deal with disrupted

Volkswagen Group said on Thursday its preliminary first-quarter operating return on sales jumped to 13.5 percent from 7.7 percent in the same period of 2021, but the impact of the war in Ukraine and supply chain bottlenecks was still uncertain. “The effects of the further course of the Ukraine war still cannot be predicted with

Elon Musk has made a “best and final” offer to buy Twitter, saying the company has extraordinary potential and he is the person to unlock it. The Tesla CEO and the world’s richest person will offer $54.20 per share in cash, representing a 54 percent premium over the Jan. 28 closing price and a value

Stellantis will use Qualcomm’s Snapdragon Digital Chassis to power the automaker’s upcoming Brain and SmartCockpit technology platforms, the two companies said. The collaboration will include vehicles across of Stellantis’ 14 brands, starting with Maserati in 2024, Stellantis software chief Yves Bonnefont said in a media briefing ahead of the announcement Thursday.  By 2026, the technologies will