Europe

Nissan and Renault have agreed to restrict the use of the intellectual property they developed together in a new company established by Renault, according to a report by Nikkei on Wednesday. The sharing of technology had emerged as a sticking point between Renault and Nissan as the pair negotiated an overhaul of their decades-old partnership,

Stellantis will help build an electric vertical takeoff and landing aircraft with Archer Aviation and increase its stake in the U.S. company, the two firms said on Wednesday. Industrial companies and startups are flocking to invest in air taxis, which can take off and land vertically to ferry travellers to airports or on short trips

SEOUL — Hyundai Motor and affiliate Kia forecast that their combined global vehicle sales will jump nearly 10 percent in 2023, even as last year’s sales fell short of target due to supply chain disruptions. The companies sold 6.85 million vehicles in 2022, about 4 percent less than their combined target of 7.16 million vehicles,

PARIS — The surge in electric vehicle sales has led a number of automakers to move to a direct sales and distribution model, known as agency, in an effort to cut costs and better control pricing. Big names that are shifting to some form of agency, for EVs or all their models include Audi, BMW,

OSLO — Four out of five new cars sold in Norway in 2022 were battery powered, led by Tesla, but some in the industry say new taxes could prevent the country’s goal of becoming the first nation to end the sale of gasoline and diesel automobiles by 2025. Tesla sold more cars in Norway than

Tesla is expected to announce record quarterly deliveries early in January but that may not be enough to satisfy investors as the automaker grapples with inflation, rising interest rates, crimped production in China and concerns about softening demand. In an effort to clear inventory, Tesla offered a rare $7,500 discount to U.S. customers who took

BRUSSELS — The European Commission gave a guarded welcome to guidance by the United States meaning that EU companies could partially benefit from the U.S. Inflation Reduction Act, but said further improvements were required. The $430 billion green subsidy law, which grants tax credits for buying U.S.-produced electric vehicles and other green products, has triggered

Exports of electric vehicles from China more than doubled in November, creating a monthly record, mostly fueled by European automakers that farmed out the production to the country.   Car manufacturers in China exported $3.2 billion worth of electric vehicles in November, up 165 percent from a year ago to reach the highest-ever monthly total,

The Geely-backed tech startup ECARX has an advantage over bigger rivals such as Nvidia or Qualcomm: It is purely focused on automotive applications, Chairman Ziyu Shen said ahead of the company’s recent market debut. ECARX went public on the Nasdaq exchange (symbol ECX) in New York City on Dec. 21. The listing, through a reverse

Several production lines at Volkswagen and FAW’s plant in Chengdu are operating with staff on 11-hour shifts, up from eight usually, to compensate for time lost due to a closure in November, a spokesperson said on Tuesday. Production at the plant was stopped on Nov. 21 for two weeks because of a lack of parts

PARIS — Dacia will start taking orders in January for the Renault Group brand’s first hybrid powertrain option, available on the Jogger compact crossover. The Jogger full-hybrid will use Renault Group’s E-Tech hybrid system, which is based on a 90 hp 1.6-liter 4-cylinder gasoline engine with two electric motors that produce a total of 50

Elon Musk said on Tuesday he will step down as CEO of Twitter once he finds a replacement, but will still run some key divisions of the social media platform. “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software

SHANGHAI — Tesla’s China chief Tom Zhu and a team of his reports has been brought in to troubleshoot production issues in the U.S., fueling talk among colleagues he is being groomed for a bigger role at a time when CEO Elon Musk has been distracted by Twitter. Zhu, who heads Tesla’s Asia operations, has

Stellantis has entered into talks with the French suppliers Faurecia and Michelin to buy a “substantial” stake in their Symbio joint venture, a fuel cell system maker for hydrogen mobility, the three companies said. Stellantis launched hydrogen-powered midsize vans last year from the Citroen, Peugeot and Opel brands in a collaboration with Symbio. It aims

BERLIN — Volkswagen plans to reduce the number of shifts at its Wolfsburg factory in January. A VW spokesman said the work stoppage would affect the late shift in Golf production for assembly line 3 and other adjacent areas from Jan. 9 through Jan. 27. The body shop, paint shop and other adjacent areas will

A year ago, Tesla seemed unbeatable, with its shares near a record high amid soaring optimism for the global electric-vehicle market. Now investors are struggling to see a bottom. The stock was never for the faint of heart, given its volatility and the mercurial style of its chief executive, Elon Musk. Still, the magnitude of

ECARX, the automotive technology company backed by Geely Chairman Eric Li, will start trading on the Nasdaq today as a publicly listed company via a reverse SPAC merger that values it at $3.8 billion.  The public offering will raise an estimated $368 million after expenses, ECARX said in an investors’ presentation in November. Existing shareholders will retain

Solid Power said it will offer some intellectual property rights related to its solid-state batteries to BMW and allow production of the battery cells at the automaker’s facilities in Germany. Colorado-based Solid Power will license the cell design and manufacturing processes to BMW, which will pay the company $20 million through June 2024, subject to