Europe

Israel’s Innoviz Technologies said it will supply hardware and software to Volkswagen Group‘s Cariad unit in a deal valued at $4 billion. The components, including laser-based lidar sensors, will be used in advanced driver assistance systems and automated vehicles from multiple brands in the Volkswagen Group, starting mid-decade, Innoviz said in a statement on Tuesday.

MILAN — Ferrari raised its forecasts for full-year revenue and profit after its order book hit new highs, as Portofino M and F8 models drove sales. “The quality of the first six months and the robustness of our business allows us to revise upward the 2022 guidance on all metrics,” Ferrari CEO Benedetto Vigna said

PARIS — Plastic Omnium will buy Hella’s 33 percent stake in the HBPO joint venture, which makes front-end modules, for 290 million euros ($295 million), the two companies have said. The move will give Plastic Omnium full ownership of the joint venture, which was established in 2004 with a third partner, Behr (later a part

Opel/Vauxhall has named Christophe Mandon as head of sales, succeeding Florian Huettl, who was promoted CEO of the Stellantis unit in May.  Mandon is currently responsible for commercial management of all Stellantis brands in the Africa/Middle East region. He will report to Huettl, who had been in the CEO role since January, Opel said in a news release.

New cars are in short supply, with delivery times stretching as long as a year because of the ongoing semiconductor shortage and other supply chain issues. This is affecting customers of all kinds, but none more than fleet buyers. The shortage means many fleets, from rental car companies to police departments, are not able to

Next.e.GO Mobile, a German maker of compact electric vehicles, is going public through a merger with a blank-check firm to create a company valued at $913 million, including debt. The deal will provide e.GO with about $285 million of proceeds, assuming investors do not redeem their shares, according to a statement Thursday, confirming a Bloomberg

MILAN — Italy’s Alfa Romeo will work on a new large-size car in the United States to be launched in 2027, the brand’s head Jean-Philippe Imparato said on Friday, adding however the group had not yet decided where to manufacture it. Imparato said the step was key to tailoring the design for overseas markets, helping

Aston Martin expects its finances to improve in the second half of 2022 after burning through tens of millions of pounds in cash earlier this year, it said, as easing supply chain snarls help boost deliveries of higher margin cars. Its positive free cash flow forecast comes as the automaker posted a bigger loss for

Stellantis’ state-owned Chinese partner accused the European company of disrespecting customers in the world’s biggest auto market in an escalation of a dispute over their failed Jeep venture. Guangzhou Automobile Group on Friday said comments Stellantis CEO Carlos Tavares made the previous day on how trust had broken down between the two companies over their

Volkswagen Group is bracing to pay higher prices for commodities as improving supply of semiconductors allows the automakers to increase production and start delivering cars to waiting customers. Sales have already ticked up “noticeably” in recent weeks as more chips have become available, VW said Thursday. With stockpiles of more cheaply sourced materials dwindling, restocking

Sales of plug-in hybrid vehicles are faltering in Europe, which has been their most important market to date, while demand is rising for for full-electric vehicles. As consumers turned away from diesel cars after Volkswagen’s diesel scandal and Europe’s lawmakers toughened emissions regulations, some automakers bet heavily on plug-in vehicles, which are powered by an

Apple has enlisted one of Lamborghini’s top car-development managers in a sign that it’s stepping up work on a self-driving electric vehicle, according to people with knowledge of the situation. The company hired Luigi Taraborrelli, a 20-year veteran of the Italian brand, to help lead the design of Apple’s future vehicle, said the people, who

Jaguar Land Rover reported a quarterly loss before tax of 524 million pounds ($632 million), compared with a loss of 110 million pounds a year earlier. Quarterly revenue fell 11 percent from a year earlier, mainly due to a weaker model mix, inflation and adverse currency movements. The prolonged semiconductor shortage, surging commodity prices and

SEOUL — Tesla supplier LG Energy Solution said it is looking at sites in Europe for a new battery plant and would ramp up production in Asia outside of China, where COVID-19 lockdowns and rising costs were weighing on profits. The South Korean company, which supplies electric vehicle batteries to automakers including General Motors, Ford

BMW Group has promoted the former head of Mini Germany, Ulrike von Mirbach, to help lead the brand toward electrification as head of its Europe region. BMW has said that Mini will become an all-electric brand from the beginning of the 2030s. “I am convinced that Ulrike von Mirbach will successfully lead the Mini brand

Sono Group said the price of its Sion solar electric car will stay around $26,000 before taxes even as inflation grows. The Sion — a boxy hatchback covered in solar cells for charging on the go — has been revamped with features including new lights, door handles and a more spacious interior, the German startup

MILAN — Silk-FAW, a start-up of U.S. automotive engineering and design firm Silk EV and Chinese automaker FAW, said it would press ahead with a plan, worth over one billion euros ($1.02 billion), to build electrified cars in Italy. Silk-FAW will finalize the purchase of the land in the city of Reggio Emilia where the

PARIS — Forvia, the supplier created after Faurecia‘s takeover of lighting maker Hella, fell short of half-year operating profit expectations, affected by global chip shortages, the war in Ukraine and lockdowns in China. The group, which sealed its takeover of Hella in January, reported an operating profit of 426 million euros ($434.5 million) for the