Europe

Taiwan Semiconductor Manufacturing Co. (TSMC) is in talks with partners to spend as much as 10 billion euros ($11 billion) to build a microchip fabrication plant in Saxony, Germany, according to people familiar with the matter. The planned venture between TSMC, NXP Semiconductors, Robert Bosch and Infineon Technologies will include state subsidies and would have

STOCKHOLM — Volvo said on Wednesday that sales increased by 10 percent in April to 51,976 cars, boosted by strong gains in China. Volvo, which is majority-owned by China’s Geely Holding, said in a statement that sales in China were up 46 percent. In Europe, its biggest market, sales were up 5 percent, while in

Germany’s Lilium will raise up to $250 million, including from its largest shareholder Tencent Holdings, to fund the development of its eVTOL (electric vertical take-off and landing) jet. Lilium’s U.S.-listed shares surged 43 percent in premarket trading after the air taxi developer said the funds will enable it to cover “most of the estimated capital”

PARIS — French auto sales jumped by 22 percent in April, as the market continued to rebound from component shortages, trade group PFA said. Big gains were reported at Cupra, Dacia, Renault and Seat. For the year, the market is up 17 percent. Sales have risen every month since September 2022, compared with the same

On June 13 and 14 in Paris, the annual Automotive News Europe Congress will host a series of top-level presentations, speakers and panel discussions on the theme of Making Sustainability Profitable. Speakers will include experts and executives from Renault Group, Toyota, Stellantis, Polestar, Ford, Hyundai and more. Join us in Paris to be part of the

Volkswagen Group plans to launch a new subbrand for electric cars in China to help the automaker reverse its sliding market share in the country. The subbrand will launch with the Cupra Tavascan full-electric SUV, a sibling model to the VW ID5 and Skoda Enyaq Coupe iV. Its models will be targeted at VW’s new

British car production rose for a second consecutive month, climbing 6.1 percent in March, as the global shortage of semiconductors and other components eased further, the Society of Motor Manufacturers and Traders (SMMT) said in a statement. In March, 81,605 cars were made in Britain, taking the first-quarter output to 219,887 units – 6 percent

LONDON — MG gave its Cyberster all-electric roadster ‘scissor’ doors that open upward because it needed visual drama to stand out in the increasingly competitive Chinese market, said Carl Gotham, the brand’s head of advanced design. The costs to engineer scissor doors have restricted their use to ultraluxury sports cars, but they are becoming more

LONDON — An industry group of nearly 20 electric vehicle charger companies said they aim to double the size of Britain’s charging network this year with tens of thousands of new chargers, as the government tries to wean people off combustion engines. ChargeUK’s members have cumulatively announced plans to invest more than 6 billion pounds

MOSCOW — Holding company S8 Capital on Friday said it had closed a deal to acquire three of German supplier Bosch’s Russian assets and planned to rebrand the facilities within six months of the transaction’s completion. Scores of companies have opted to exit Russia or announced plans to do so since Moscow sent tens of

BERLIN — A technical project manager at Continental has admitted to involvement in the Volkswagen diesel scandal and incriminated other defendants, German prosecutors told Reuters. The unidentified individual admitted to having knowledge of and involvement in the illegal use of so-called defeat devices in VW diesel vehicles, the prosecutor’s office said, adding the person would

MILAN — Stellantis has signed an agreement with Alliance Nickel for the supply of battery grade nickel and cobalt sulphate from the NiWest project in Western Australia, the two groups said. The deal, the latest struck in Australia by the world’s third largest automaker by revenues, confirms the country as a core supplier for Stellantis

Citroen has revealed the second of three planned small cars for emerging markets with the New C3 Aircross, an SUV available with five or seven seats. The C3 Aircross will go on sale in India and South America in late 2023, followed by a new market, Indonesia, in 2024. The Stellantis brand is targeting 30 percent

SEOUL — Hyundai Motor plans to exit Russia and sell its manufacturing plants there to a Kazakh company, South Korean media reported. South Korean TV network MBC reported that negotiations to sell Hyundai’s factories in Russia are in the final stage, adding that the automaker has been waiting for a final approval from the Russian

Robert Bosch plans to acquire a California microchip maker and invest around $1.5 billion in it to help meet growing demand for silicon carbide chips in electric vehicles, the world’s largest parts supplier said Wednesday. It will be Bosch’s first U.S. chip plant. The move comes as the Biden administration tries to foster more microchip

Valeo on Tuesday reported first-quarter sales up 15 percent year on year to 5.5 billion euros ($6 billion). The result was driven by its two main units – powertrain and driving assistance businesses. Valeo is betting on the acceleration of car electrification and the adoption of advanced driving assistance systems, as governments and companies shift

Skoda is accelerating its EV transition with an all-electric station wagon and three new battery-electric SUVs. The four all-new EVs and two updated Enyaq models will expand the brand’s BEV range to six vehicles, Skoda said. The Volkswagen Group-owned brand said it will have invested a total of 5.6 billion euros in e-mobility by 2027.

Swedish car-battery maker Northvolt is expanding into aviation, as it targets the nascent field of decarbonizing commercial flight. Lower-weight, higher-density lithium metal batteries developed by Northvolt’s Cuberg subsidiary improve upon lithium ion, which is suitable only for test flights and demonstrations, said Richard Wang, the California unit’s CEO. Cuberg has signed up several major customers