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Market driven higher by strong Kia sales, while Hyundai’s sales continued to decline.
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At Messe Stuttgart, the 2026 Autonomous Vehicle Tech Expo brought together OEMs, suppliers, and regulators for three days of tech showcases, talks, and debate.
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UK BEV market hits new high but ZEV Mandate target gap remains.
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The aim is to accelerate development of AI-defined vehicles, manufacturing and supply chains.
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Acquisition of majority stake is now expected to be completed by the end of 2026.
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ContiTech produces industrial parts such as conveyor belts and air springs and has a workforce of about 22,000 globally.
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The company is now preparing to begin building vehicles in South Africa from mid-2027 after carrying out upgrades at the site.
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The LGES-Honda joint venture will also produce HEV batteries at the facility.
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Under the agreement, Pirelli also secures a licence to use RIDEsense's virtual sensor technology, with defined safeguards governing the extension of rights to third parties.
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Bloomberg reported that the division could be worth $10bn or more in any transaction, with an announcement on a potential sale possible by late summer.
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