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27 Oct 2021

GM bullish on full year guidance

General Motors Q3 net income almost halved to an EBIT adjusted US$2,922m from $5,284m in Q3 2020. EBIT adjusted margin dropped to 10.9% from 14.9%. Revenue was $26,779m versus $35,480m.…

27 Oct 2021

Thatcham lauds EV crash test performance

Thatcham Research has praised the safety of electrified vehicles reviewed in its latest round of crash tests, awarding the Ford Mustang Mach-E and Ioniq 5 five stars. It noted the…

27 Oct 2021

China’s T3 Mobility raises US$1.2bn

Chinese ride-hailing company T3 Mobility announced it had raised CNY7.7bn (US$1.2bn) in the Series A funding round which would allow it to expand its operations and help it compete with…

27 Oct 2021

REE appoints two new members to board

REE Automotive has appointed two new independent members to its board, with the addition of Michal Brikman and Lilach Geva-Harel. The company also announced the resignation of Ari Raved from…

27 Oct 2021

Skoda looks to the 2030s

Thomas Schäfer wants to see the company in the European top five by 2030, while also being the leading European brand in Russia, North Africa and India, while remaining a…

26 Oct 2021

Hyundai Mobis refines its wheel corner module

Hyundai Mobis said it had developed automobile wheel technology "regarded as the core technology for future urban mobility". It allows 90-degree rotation parking and in-place rotation and is also seen…

26 Oct 2021

Henniges Germany files for insolvency

Henniges Automotive GmbH and Co. KG has filed for insolvency in the German courts for its manufacturing plant and technical centre located in Rehburg, Germany. "The global pandemic and the…

26 Oct 2021

Demand slackens but Dana books Q3 profit

Dana sales for the third quarter of 2021 totaled US$2.2bn, compared with $1.99bn in the same period of 2020, representing a $210m improvement driven by strong customer demand in heavy…

26 Oct 2021

Denso reorganises NA engineering and R&D

Denso said it was reorganising its North America engineering and R&D divisions to better integrate the company's electrification, thermal and safety systems. North American design & engineering will consolidate its five product groups…

26 Oct 2021

Hertz orders 100,000 Teslas

Hertz announced it would acquire the largest EV rental fleet in North America "as consumer interest in electric vehicles (EV) skyrockets." It will place an initial order for 100,000 Teslas…

26 Oct 2021

Veoneer Q3 net sales up 5% to US$391m

Veoneer has recorded third-quarter net sales up 5% to US$391m. Business Highlights: Entered into a definitive merger agreement, under which SSW and Qualcomm will acquire Veoneer, terminated merger agreement with…

26 Oct 2021

Mercedes opens full-fledged R&D centre in China

Mercedes-Benz has begun operations at its newly-built CNY1.1bn (US$172m) R&D tech centre China in Beijing, designed to boost the company’s ability to develop products better suited for Chinese buyers. The…

26 Oct 2021

Unipart Logistics appoints Ian Truesdale as MD

Unipart Logistics has appointed Ian Truesdale as managing director. He succeeds Frank Burns, who has been named Unipart Group EVP. Truesdale joined Unipart in April as MD Group Strategy. He…