Europe

Ford said  it would exit Russia, after the automaker finalized a deal to sell its 49 percent stake in the Sollers Ford joint venture. “Ford shares will be transferred to the Joint Venture for a nominal value,” the company said on Wednesday, adding that it retains the option to buy them back within a 5-year

BERLIN/MOSCOW — Mercedes-Benz will withdraw from the Russian market and sell shares in its industrial and financial services subsidiaries to a local investor, becoming the latest automaker to exit the country. Mercedes-Benz Russia said shares in the local subsidiaries would be sold to car dealer chain Avtodom. Mercedes Chief Financial Officer Harald Wilhelm, while presenting

Volvo will use colors to signal the difference between driver-assisted mode and what it calls “unsupervised autonomous driving” mode in its full-electric flagship. The EX90 driver-focused display screen visual through the steering wheel will use green to signal when the car is using assistance solutions such as lane keeping and adaptive cruise control. This color,

British car dealer Pendragon expects new and used vehicle supply shortfalls for the last quarter of 2022 and into next year but forecast annual group underlying profit for the current fiscal year in line with its expectations. Pendragon said in a statement on Tuesday that the new car order bank remained well above historic normal

BEIJING — Toyota will launch a small electric sedan, powered by BYD batteries and produced and sold in China. The Japanese automaker said the car would be called the Toyota bZ3. It did not say when the vehicle will be available in showrooms. It is the second model in the new Beyond Zero (bZ) series

Hyundai said it will focus on luxury models, SUVs and electric vehicles to achieve what it expects to be record high earnings this year even as challenges such as inflation and fluctuating raw material prices persist. While supply chain disruptions continue to stoke uncertainty, and currency volatility and higher marketing costs in the face of

PARIS/TOKYO –The sharing of technology has emerged as a sticking point between Renault and Nissan as the companies negotiate an overhaul of their decades-old partnership, two people familiar with discussions told Reuters. The French and Japanese automakers said this month they were in talks about the future of their alliance, including Nissan potentially investing in

LEIPZIG — BMW production chief Milan Nedeljkovic expects stabilizing supply chains to lead to a clear improvement in profitability next year. From a production perspective, Nedeljkovic said he did not expect margins to fall. “Repeated undersupply and needing to re-plan production brought a certain turmoil. A clear improvement in our margins should result purely from

Stellantis has partnered with Norwegian startup Casi to launch a car subscription service called Drivenjoy, initially in the Netherlands. The service will offer about 200 vehicles in the coming months. The Drivenjoy fleet is not entirely electric, although more hybrid and full-electric vehicles will be added in the coming months. Stellantis is touting the partnership

MADRID — The Spanish government will offer more European funds than initially planned to investors in the first phase of support of electric mobility projects, ranging from vehicle batteries to cars, and said it sought to work with Volkswagen Group after the German automaker reportedly threatened to pull out. The Industry Ministry said that the

Swedish safety component supplier Autoliv reported a strong third-quarter profit on Friday and said its operating margin would trend toward the upper end of expectations. The Stockholm-based company said its adjusted earnings before interest and taxes (EBIT) rose to $171 million from $99 million a year earlier. It now believes its adjusted operating margin for

Automakers are investing heavily in autonomous driving technologies, using simulation and digital twins to train, test and validate the deep neural networks running inside the vehicle. Designing software-defined vehicles is a distinctly time-consuming and costly process, requiring input from teams around the world. Traditionally, product development cycles in the automotive industry stretch over many years

BERLIN — Mercedes-Benz has signed a supply agreement with Canadian-German Rock Tech Lithium to receive on average 10,000 tons of battery-grade lithium hydroxide per year, the automaker said. The deal allows the automaker to supply its battery partners with raw material, starting in 2026, including a qualification period, in order to rapidly scale up production

BERLIN — Volkswagen Group is looking for an investor to take over its factory in Kaluga, southwest of Moscow, where production was halted soon after the Ukraine war began. VW said it is looking at various scenarios for the future of its business in Russia and one option was to sell the assets to a

BERLIN — Tesla topped registrations of full-electric vehicles in Germany in the first nine months of this year at nearly 38,458, data from the federal motor transport authority showed. Tesla beat VW brand by about 6,000 vehicles. Tesla’s EV registrations jumped nearly 50 percent from the January-September period last year, while VW’s dropped 40 percent

Intel’s Mobileye said on Tuesday it was targeting a valuation of nearly $16 billion in its initial public offering, less than a third of what it had previously expected, as volatility in stock markets and rising interest rates dampen the appetite for new listings. The self-driving unit of Intel said in a regulatory filing it

PARIS — Renault Group CEO Luca de Meo does not see price parity between electric cars and combustion engine models coming anytime soon. “I do not see this parity getting close,” he told reporters on the sideline of the Paris auto show. De Meo said that eight years ago the industry was expecting the cost

PARIS — Renault and Stellantis unveiled new French-made electric vehicles at the Paris auto show on Monday, as President Emmanuel Macron announced bigger subsidies for poorer families to buy EVs and pushed for more local production. In an interview with business daily Les Echos before visiting the show, Macron said EV subsidies for lower-income households