GERMANY AUTOMOTIVE INDUSTRY

Volkswagen's EV Woes: From 'das auto' to 'drive digger' and the road ahead

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 situation is further aggravated by tariff wars, reduced government subsidies, and strong competition from Chinese EV manufacturers like BYD.

EU slaps tariffs on Chinese EVs, risking Beijing payback

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 address China's significant EV production capacity and its impact on the EU market.

Naxnova Expands Global Footprint with Acquisition of Germany’s H S Products Engineering

EU imposes up to 45% tariffs on Chinese EVs; 'unfair', says Beijing

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 has raised concerns about a potential trade conflict with China.

Taking a sick leave? Think twice as company officials visit employee homes to check

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 doors and threatening to call the police. Tesla executives, including factory director André Thierig, defended the move as an appeal to employees' work ethic, but unions like IG Metall argue that the high sick leave rate stems from overwork and unsafe conditions.

No power of attorney executed in favour of Baba Kalyani by his late mother: Kalyani Group

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 in Baba Kalyani's favor. The dispute is currently being addressed in the Pune District Court.

Tyre exports from India rise 17 pc in Q1: ATMA

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 branding efforts, along with improved demand prospects in key destinations.

Germany's ZF Group to expand India sourcing to 2 billion euros a year

ZF Group plans to invest 2 billion euros to expand material sourcing from India for its global operations in passenger cars, commercial vehicles, and industrial technology. The company aims to reach a sales target of 3 billion euros by 2030, bolstering its presence in the wind power sector.

Armed with 5 b subsidy, TSMC breaks ground on 11 b German chip factory

Taiwan Semiconductor Manufacturing Co started building its first European plant in Dresden, Germany, intending to ensure stable chip supplies. With significant state subsidies, the facility is part of Germany's push to produce a fifth of the global semiconductors by 2030, addressing supply-chain disruptions and geopolitical tensions.

The lower the AI exposure, the bigger the problem for Europe's chip firms

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.

India's 'Mittelstand': German lessons to form India's industrial base

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 manufacturing sector. The Survey likens MSMEs to Germany's 'Mittelstand,' which is vital to Germany's economy, driving significant output, employment, and tax revenue.

Used EV sales fail to take off: Why electric resale market lags

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 challenge of precisely determining an EV's remaining battery life. This is crucial because batteries can make up half the cost of a new EV, significantly impacting how much a used one is worth.

Bosch leases 691k sq ft office space in Bengaluru for expansion

Bosch Global Software Technologies has leased 691,320 square feet of space in Bengaluru, India, to expand its operations. The property, located at Life Science Park in Electronic City, will seat around 8,000 employees and house the KPO operation under Robert Bosch. The lease is set to go live by the end of 2024. Bosch is a key partner in the global automotive industry and has the largest development centre outside Germany for end-to-end engineering and technology solutions.