Tag #Automotive Industry

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zeit.de

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Jan 30, 19:10

Continental to Close Contitech Plants, 580 Job Losses in Germany

Continental is closing multiple Contitech plants across four German states, impacting 580 jobs (58 in Saxony) due to declining demand in the automotive and brown coal sectors, with plans to consolidate operations and relocate production lines.

Continental to Close Contitech Plants, 580 Job Losses in Germany

Continental is closing multiple Contitech plants across four German states, impacting 580 jobs (58 in Saxony) due to declining demand in the automotive and brown coal sectors, with plans to consolidate operations and relocate production lines.

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What is the immediate impact of Continental's plant closures on employment in Germany and what are the reasons cited for this decision?

Continental, a German automotive supplier, is closing several Contitech plants affecting 580 jobs due to the ongoing automotive industry crisis. 58 of these jobs are in Saxony, with affected plants in Frohburg and Geithain producing plastic production tools. Other locations in Thuringia, Lower Saxony, and North Rhine-Westphalia are also impacted.

theguardian.com

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Jan 29, 19:11

American Axle to Acquire Dowlais for £1.2bn

American Axle & Manufacturing will acquire British car parts maker Dowlais for £1.2bn, the largest US takeover of a UK company this year, amid increased transatlantic M&A activity and the automotive industry's shift to electric vehicles.

American Axle to Acquire Dowlais for £1.2bn

American Axle & Manufacturing will acquire British car parts maker Dowlais for £1.2bn, the largest US takeover of a UK company this year, amid increased transatlantic M&A activity and the automotive industry's shift to electric vehicles.

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What are the immediate implications of American Axle & Manufacturing's takeover of Dowlais for the global automotive industry?

American Axle & Manufacturing, a US car parts maker, will acquire British rival Dowlais for £1.2bn. This deal, the largest US takeover of a UK company in 2024, reflects increased transatlantic M&A activity driven by the strength of US equity markets. The acquisition aims to create a leading global manufacturer in the electric vehicle transition.

zeit.de

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Jan 29, 16:12

East German Textile Industry Faces 10% Revenue Drop Amidst Economic Headwinds

The East German textile industry, employing 14,500 in Saxony-Thuringia, suffered a 10% revenue drop in 2023 due to high energy costs, bureaucracy, and reduced automotive production, leading to six insolvencies; however, companies like Otex, producing technical textiles, plan further investments.

East German Textile Industry Faces 10% Revenue Drop Amidst Economic Headwinds

The East German textile industry, employing 14,500 in Saxony-Thuringia, suffered a 10% revenue drop in 2023 due to high energy costs, bureaucracy, and reduced automotive production, leading to six insolvencies; however, companies like Otex, producing technical textiles, plan further investments.

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What is the current state of the East German textile industry, and what are the most immediate consequences for companies like Otex?

Otex, a textile finisher in Flöha, Germany, operates 24/7 with over 100 employees of nine nationalities, producing yarns for medical and clothing applications. Despite planned investments, the broader East German textile industry faces significant challenges, with a 10% revenue loss last year and no expected turnaround.

politico.eu

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Jan 28, 13:10

EU Suppliers Demand Local Content Rules to Counter Chinese EV Competition

Facing a slump in EV demand and competition from China, a coalition of European automotive suppliers is urging the EU to implement "minimum local content" rules, similar to the USMCA's 75 percent requirement, to safeguard jobs and the industry's future, though this is opposed by some.

EU Suppliers Demand Local Content Rules to Counter Chinese EV Competition

Facing a slump in EV demand and competition from China, a coalition of European automotive suppliers is urging the EU to implement "minimum local content" rules, similar to the USMCA's 75 percent requirement, to safeguard jobs and the industry's future, though this is opposed by some.

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What immediate impact would implementing minimum local content rules have on the European automotive industry and its workforce?

A coalition of major European automotive suppliers is urging the EU to impose "minimum local content" rules, mirroring the USMCA's 75 percent requirement, to counter the influx of Chinese electric vehicles (EVs) and protect the industry from potential job losses. This follows a slump in EV demand and concerns about a global tariff war.

africa.chinadaily.com.cn

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Jan 27, 16:11

China Unveils New Policies to Boost Dominant NEV Sector

China plans to boost its leading new energy vehicle (NEV) sector through various policies, including promoting battery swapping, electrifying public transport, optimizing the dual-credit policy, and investing in R&D, aiming to maintain its dominant global position with sales reaching 1.29 million un...

China Unveils New Policies to Boost Dominant NEV Sector

China plans to boost its leading new energy vehicle (NEV) sector through various policies, including promoting battery swapping, electrifying public transport, optimizing the dual-credit policy, and investing in R&D, aiming to maintain its dominant global position with sales reaching 1.29 million un...

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Industry, Innovation, and Infrastructure

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What specific policies is China implementing to accelerate the growth of its new energy vehicle sector and what are the immediate implications for the global automotive market?

China's Ministry of Industry and Information Technology will implement several policies to boost its new energy vehicle (NEV) sector, including promoting battery swap models, expanding pilot programs for full electrification in public transport, and optimizing the dual-credit policy. These measures aim to further solidify China's leading position in the global NEV market, already boasting sales of 1.29 million units in 2024, representing 40.9 percent of domestic sales and over 60 percent of the global market.

lefigaro.fr

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Jan 25, 01:07

French Ministers Urge EU to Adjust Auto CO2 Emission Standards

Three French ministers—of Ecological Transition, Industry, and Europe—are urging the European Commission to adjust its CO2 emission standards for automakers, warning that current regulations risk €15 billion in penalties in 2025 and harming the European automotive industry.

French Ministers Urge EU to Adjust Auto CO2 Emission Standards

Three French ministers—of Ecological Transition, Industry, and Europe—are urging the European Commission to adjust its CO2 emission standards for automakers, warning that current regulations risk €15 billion in penalties in 2025 and harming the European automotive industry.

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Climate Action

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How do the slower-than-expected electric vehicle sales affect the feasibility of the EU's 2035 ban on new combustion engine vehicles?

The French government's intervention highlights a conflict between the EU's Green Deal objectives and the current economic realities of the European automotive sector. Slower-than-expected electric vehicle sales in a shrinking market threaten automakers with substantial fines. This situation exposes challenges in balancing environmental regulations with industrial stability.

welt.de

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Jan 29, 13:10

EU CO2 Rules Spur Affordable Electric Vehicle Boom

New EU regulations impose CO2 penalties on automakers, prompting a surge in affordable electric vehicle production, benefiting consumers while reshaping the automotive market. Five key 2025 models include the Fiat Grande Panda EV (starting at €24,990), Renault R4 EV, Hyundai Inster EV (from €24,900)...

EU CO2 Rules Spur Affordable Electric Vehicle Boom

New EU regulations impose CO2 penalties on automakers, prompting a surge in affordable electric vehicle production, benefiting consumers while reshaping the automotive market. Five key 2025 models include the Fiat Grande Panda EV (starting at €24,990), Renault R4 EV, Hyundai Inster EV (from €24,900)...

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What is the immediate impact of the EU's new CO2 emission regulations on the automotive industry and consumers?

Due to new EU regulations, automakers now face significant CO2 penalties, potentially impacting their viability. However, this also drives the production of more affordable electric vehicles (EVs), creating new opportunities for consumers.

forbes.com

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Jan 29, 19:11

American Axle to Acquire Dowlais Group for \$1.44 Billion

American Axle & Manufacturing is buying the U.K.'s Dowlais Group for \$1.44 billion in cash and stock, resulting in Dowlais leaving the London Stock Exchange; American Axle will own 51% of the combined company, generating \$12 billion in annual revenue and \$300 million in savings.

American Axle to Acquire Dowlais Group for \$1.44 Billion

American Axle & Manufacturing is buying the U.K.'s Dowlais Group for \$1.44 billion in cash and stock, resulting in Dowlais leaving the London Stock Exchange; American Axle will own 51% of the combined company, generating \$12 billion in annual revenue and \$300 million in savings.

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What broader economic and industry trends contribute to this acquisition, and what are its consequences for the U.K. stock market?

The acquisition reflects broader trends in the automotive industry, characterized by a costly shift to electric vehicles and intensifying competition from Chinese manufacturers. This transaction, with its substantial premium (25% on Tuesday's closing price and 45% on the three-month average), is part of a larger pattern of U.K. companies being acquired by foreign entities, shrinking the U.K. stock market; last year, 5% of U.K.-listed companies received takeover offers.

nbcnews.com

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Jan 28, 01:08

BYD's Shark Pickup Truck Challenges Global Automakers

BYD's new Shark pickup truck, a midsize plug-in hybrid, is challenging established automakers with its design similarities to Ford and GM models and competitive pricing, resulting in over 10,000 units exported in 2024 and prompting responses from Ford and Toyota.

BYD's Shark Pickup Truck Challenges Global Automakers

BYD's new Shark pickup truck, a midsize plug-in hybrid, is challenging established automakers with its design similarities to Ford and GM models and competitive pricing, resulting in over 10,000 units exported in 2024 and prompting responses from Ford and Toyota.

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What design and engineering elements in the BYD Shark reveal insights into BYD's benchmarking strategies and competitive approach?

BYD's strategic expansion into the pickup truck market leverages design similarities to successful models from Ford and GM, combining this with a competitive price point. This approach, coupled with BYD's substantial growth in vehicle exports (from 2% in 2022 to 8% in 2024), directly challenges the dominance of established players like Ford and Toyota in key global markets. The company's export volume surged from less than 56,000 units in 2022 to 350,500 units in 2024, indicating significant market penetration.

theglobeandmail.com

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Jan 28, 16:13

GM Exceeds Q4 Expectations, but Faces Tariff Uncertainty

GM exceeded fourth-quarter 2024 expectations and projected 2025 net income of \$11.2-billion to \$12.5-billion, but faces uncertainty due to potential tariffs on materials critical to auto manufacturing and ongoing challenges in its EV transition and China operations.

GM Exceeds Q4 Expectations, but Faces Tariff Uncertainty

GM exceeded fourth-quarter 2024 expectations and projected 2025 net income of \$11.2-billion to \$12.5-billion, but faces uncertainty due to potential tariffs on materials critical to auto manufacturing and ongoing challenges in its EV transition and China operations.

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How did GM's EV performance in 2024 compare to its goals, and what factors contributed to the results?

Strong consumer demand for GM's gasoline-powered vehicles drove positive results, exceeding analyst estimates for revenue and earnings per share. The company's reliance on North American manufacturing, however, makes it vulnerable to potential tariffs imposed by the U.S. government.

zeit.de

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Jan 27, 07:09

Global BEV Sales Rise 14.3% in 2024, but German Market Contracts Sharply

Global sales of battery electric vehicles (BEVs) reached over 10.4 million units in 2024, a 14.3% increase from 2023, led by China (6.7 million units), while Germany's market contracted by 27% due to the end of purchase incentives, dropping to fourth place behind the UK.

Global BEV Sales Rise 14.3% in 2024, but German Market Contracts Sharply

Global sales of battery electric vehicles (BEVs) reached over 10.4 million units in 2024, a 14.3% increase from 2023, led by China (6.7 million units), while Germany's market contracted by 27% due to the end of purchase incentives, dropping to fourth place behind the UK.

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What were the key factors influencing the global growth rate of BEV sales in 2024, and what are the immediate consequences for major markets?

Global sales of battery-electric vehicles (BEVs) surpassed 10 million units in 2024, a 14.3% increase compared to 2023, according to PwC analysis of 21 key markets. China dominated with 6.7 million units, while the US followed with 1.2 million. Germany's BEV market significantly contracted by 27%, losing its top-three position.

english.kyodonews.net

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Jan 24, 07:09

Mitsubishi Motors Considers Bypassing Nissan-Honda Merger

Mitsubishi Motors is considering opting out of the planned merger between Nissan and Honda, citing concerns over management control and the uncertain synergistic effects of a three-way consolidation amid the auto industry's technological shift towards electric vehicles and software; the decision fol...

Mitsubishi Motors Considers Bypassing Nissan-Honda Merger

Mitsubishi Motors is considering opting out of the planned merger between Nissan and Honda, citing concerns over management control and the uncertain synergistic effects of a three-way consolidation amid the auto industry's technological shift towards electric vehicles and software; the decision fol...

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What is Mitsubishi Motors' primary reason for potentially declining the Nissan-Honda merger?

Mitsubishi Motors is considering forgoing a merger with Nissan and Honda, prioritizing bilateral collaborations instead. This decision stems from concerns about losing managerial autonomy within a combined entity. The automaker is a Nissan partner and possesses significant market presence in Southeast Asia.

Showing 349 to 360 of 564 results