GERMANY AUTOMOTIVE INDUSTRY

Several automotive companies are announcing plant closures and layoffs in Europe. Companies like Valeo, Stellantis, Bosch, Ford, Michelin, Schaeffler, Volkswagen, and Daimler Truck are affected. These actions are due to weak demand, high production ...

Hinduja Tech Ltd has completed the acquisition of Germany-based engineering services provider TECOSIM Group, enhancing its global presence and competitiveness. This acquisition strengthens Hinduja Tech's vision of becoming a leader in sustainable mo...

ZF Group sold a 4.32% stake in its Indian subsidiary, ZF Commercial Vehicles Control System (CVCS) India, for ?1,022 crore. The move aims to increase financial flexibility for ZF's growth plans, while maintaining its majority shareholding in the Ind...

Under the programme, selected startups will get exclusive access to Hero MotoCorp's research and development facilities in Germany and India, besides the company's extensive network of dealers, suppliers and partners, along with mentorship.

Ford Motor Co. is cutting 4,000 jobs in Europe and the U.K. by the end of 2027 due to economic challenges, increased competition, and lower-than-expected electric vehicle sales. The majority of job losses will occur in Germany, with reduced working ...

Volkswagen faces pressure to reduce labor costs in Germany as they exceed those of rivals like BMW and Mercedes-Benz. While unions demand a 7% pay rise, the company, grappling with high production costs and competition from cheaper Chinese models, p...

The companies also named leaders for their multibillion-dollar joint venture and showcased a prototype EV. The spending may ease concerns about Rivian's cash burn and give the German carmaker access to its US partner's software technology - an area ...

India's manufacturing sector, particularly automotive, is experiencing significant growth, driven by government initiatives, a favorable business environment, and strong domestic demand. The author, MD & CEO of Mercedes-Benz India, highlights the po...

Schaeffler, a German auto parts manufacturer, announced 4,700 layoffs across Europe, primarily in Germany, citing a challenging market environment and the shift to electric vehicles. The company's operating profit fell nearly in half in the third qu...

Volkswagen, after facing setbacks in its electrification strategy, is announcing plant closures and layoffs. The company's struggles stem from declining sales in China, its largest market, where buyers are shifting towards locally produced EVs. VW's...

The EU has decided to impose tariffs ranging from 7.8% to 35.3% on Chinese-built electric vehicles, citing unfair subsidies. This move has caused tensions with Beijing, which has launched retaliatory probes into EU imports. The tariffs aim to addres...

The EU will introduce tariffs on China-made electric vehicles, despite Germany's objections. The tariffs will range up to 45% and will last for five years to counter unfair Chinese subsidies. A compromise on sales prices is being explored, but this ...

Tesla is facing backlash in Germany after sending managers to visit the homes of employees on sick leave at its Berlin Gigafactory. The visits, aimed at curbing a high absenteeism rate of 17%, were met with hostility, with some workers slamming door...

Baba Kalyani, Chairman of Kalyani Group, has been accused by his brother Gaurishankar Kalyani of coercing their late mother, S N Kalyani, in matters related to her will. The group denies these allegations, stating no power of attorney was executed i...

India's tyre exports surged by 17 per cent year-on-year in the first quarter of the current fiscal, reaching Rs 6,219 crore. The US emerged as the largest market. The rise is attributed to advanced technology products, competitive pricing, and brand...

Chip component suppliers like ASML and ASM International are more exposed to the booming AI chip market and demand from high-end tech clients like Nvidia, TSMC, and Intel.

The Economic Survey 2023-24, presented in Parliament, proposes several bottom-up reforms to ensure sustained growth through 2047. Among these, it highlights the potential of medium, small, and micro enterprises (MSMEs) as a key pillar for India's ma...

Electric vehicles (EVs), including scooters, cars, and commercial vehicles, are surprisingly unpopular in the used vehicle market and often sell for less than similar fossil fuel-powered models, according to EV experts. One major reason is the chall...