Europe

BMW said buying a controlling stake in its Chinese car-making joint venture with Brilliance will bolster the German company’s earnings by as much as 8 billion euros ($9.1 billion). Chinese authorities gave BMW permission to raise its stake in the business with Brilliance China Automotive Holdings to 75 percent from 50 percent, the automaker said in

Mercedes-Benz introduced the A-Class sedan in the U.S. in 2019, hoping to lure millennial buyers to the more than century-old brand with a $30,000 entry-level model. It was supposed to be a key gateway to the brand for younger buyers. The A-Class “will do really, really well … for us,” then Mercedes-Benz USA CEO Dietmar

Valeo agreed to acquire Siemens’ stake in their 5-year-old electric-car components venture to bolster its position in the rapidly expanding EV market. Valeo will buy the 50 percent holding for 277 million euros ($317 million), the supplier said in a statement. The deal will raise the French company’s net debt by 741 million euros. The

BERLIN — Production at Tesla’s German factory will not start until mid-March at the earliest, local broadcaster RBB reported. Authorities are currently still reviewing the factory’s safety precautions, RBB reported, without citing any sources. A spokesperson for the state environment ministry said “we do not specify a concrete date,” but “we are in the final

BERLIN — Volkswagen has implemented a quota system in its German retail network for its ID battery-electric cars amid the microchips crunch. VW has been forced to pause production of ID cars on some occasions at its plants in Zwickau and Dresden, Germany because of the global semiconductor shortage. Under the quota system, dealerships with

Volvo Cars will launch production of a new electric crossover at its U.S. assembly plant in early 2025. The model, as described by two sources familiar with the plans, will slot between the midsize XC60 and large XC90 crossover in size. The EV is based on a new electric platform and will feature advanced autonomous

BERLIN — Volkswagen’s ID Buzz full-electric van will be start below 60,000 euros ($69,000) in Germany when it goes on sale in September, company sources said. The price for the passenger version of the van will be similar to combustion engine versions of the VW Multivan T6.1 with similar equipment, sources told Automotive News Europe

MILAN — Stellantis has halted production for one day at its Sevel plant in Italy, Europe’s largest van assembly facility, due to a shortage of engines supplied by a plant of the group in France, a union representative said. Sevel produces light commercial vehicles under the Fiat, Peugeot and Citroen brands. Fiat-branded vans are fitted

PARIS — Faurecia said its new combination with Hella would result in it aiming for sales of above 33 billion euros ($37.72 billion) in 2025, and an increased annual cost savings target of 250 million euros. Faurecia, which produces seating, electronics and other car interior components, issued those financial targets as it marked the completion

BERLIN – Volkswagen Group does not expect the global shortage of semiconductors to end this year although it should further ease slightly in the second half, the automaker’s head of purchasing said. “The volatile situation will affect us at least beyond the first half of this year,” Murat Aksel, the head of procurement for VW

SAN FRANCISCO — Automakers including GM Motors, Ford and Hyundai predict a near two-year chip constraint will ease in the second half of 2022, but automotive chipmakers, on the other hand, expect a recovery to take longer. During their quarterly results reporting over the past two weeks, GM CEO Mary Barra projected the semiconductor shortage would

Volkswagen Group plans to cut nearly all night shifts at its main plant in Germany as Europe’s largest carmaker continues to battle the semiconductor crisis. VW will cut the night shift, which provides workers extra pay, from the start of the second quarter on three assembly lines in Wolfsburg, the automaker said Friday, confirming a

PARIS — Peugeot’s global sales increased by 5 percent in 2021 to 1,214,851, the Stellantis brand said, driven by strong gains outside of Europe, its biggest market, where sales grew only slightly. Sales in Peugeot’s newly enlarged Europe region, which includes Eurasia, were 943,805. That represents a gain of about 3 percent for what was