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At the start of the year, economic growth across Europe for full-year 2026 was set to improve.
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Global market softened in June, largely due to the ongoing decline in China where higher fuel costs are adding to already challenging market conditions.
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The latest reduction programme follows two earlier rounds: 3,900 roles agreed in 2025 and a further 500 announced in May by chief executive Michael Leiters in connection with the winding down of subsidiary operations.
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Under the expanded agreement, Mercedes-Benz will use Hydro Circal in series production for its next generation of large electric vehicles.
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This is the first wage agreement this year among South Korean automakers.
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Financial partnership provides support for VinFast dealers and the continued expansion of VinFast's dealer network across Germany.
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Once completed, Toyota will become an equal partner in Cellcentric alongside Daimler Truck and Volvo Group, with each company holding one third of the business.
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A patent infringement complaint has been filed with the US International Trade Commission.
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The two automakers are looking to cut the cost of developing next-generation vehicles.
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According to the company, the base variant can be purchased for less than Y2m ($12,209).
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