Europe

Polestar has reversed course on the Precept sedan, deciding to turn what was originally billed as a “vision” of the brand’s future into a production model. It will take three years to complete development of the brand’s future flagship grand tourer, Polestar CEO Thomas Ingenlath told Automotive News Europe. The production car will be underpinned
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WASHINGTON — BMW and two U.S. subsidiaries agreed Thursday to pay an $18 million fine to resolve accusations that they disclosed misleading information about the German luxury automaker’s retail sales volume in the United States while raising approximately $18 billion from investors in corporate bond offerings. The U.S. Securities and Exchange Commission said from 2015
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HAMBURG — German prosecutors said on Wednesday they had charged another eight Volkswagen employees over the scandal surrounding cheating on diesel engine emission tests. The eight are accused of fraud, false certification and violation of the law against unfair competition, the Brunswick prosecutor’s office in VW’s home state of Lower Saxony said in a statement.
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CEO Elon Musk outlined Tesla Inc.’s plans to cut electric vehicle battery design and manufacturing costs so radically that a $25,000 car that drives itself will be possible, but the automaker’s shares slipped as Musk forecast the change could take three years. Musk acknowledged that Tesla does not have its ambitious new vehicle and battery
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DETROIT — The Detroit auto show is changing dates — again. After reimagining the Detroit show as a summertime indoor/outdoor event, originally scheduled for June 2020 but postponed a year because of the coronavirus pandemic, show organizers said Monday the event would take place Sept. 28 to Oct. 9, 2021, and would remain in the
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PARIS — Renault has hired Luciano Biondo, the head of Toyota Europe’s assembly operations in Valenciennes, northern France, to lead its factory network in the region, focusing on electric vehicles and light-commercial vans. Marvin Cooke, senior vice president for manufacturing at Toyota Motor Europe, will assume Biondo’s responsibilities as part of his current job, Toyota
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FRANKFURT — Volkswagen Group named Porsche veteran Klaus Zellmer as the new head of sales and marketing at the automaker’s namesake brand. Zellmer succeeds Jürgen Stackmann, who is leaving the company, VW said in a statement on Tuesday. Zellmer, 53, moves to the new post from his role as head of Porsche North America. Kjell
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MODENA, Italy — Maserati will invest more than 2.5 billion euros ($2.96 billion) to launch a total of 13 new models and derivatives by 2025, with a goal of raising sales to 75,000 a year, Fiat Chrysler Automobiles CEO Mike Manley said. Manley, speaking at the launch of the MC20 supercar in Modena on Sept.
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Delayed from late April, the Beijing auto show is set to begin on Sept. 26, making it the sole survivor, so far, of all the major international auto exhibitions canceled this year because of the coronavirus pandemic. Whether anyone attends is another matter. The pandemic has remained largely contained inside China since mid-March, and no
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Schaeffler will cut 4,400 jobs and close or sell several German plants as the automotive supplier joins peers in reeling from the coronavirus pandemic. Most of the reductions will take place at a dozen facilities in Germany and two sites elsewhere in Europe, the maker of engine, transmission and chassis components said in a statement
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The Renault Formula One team will be renamed Alpine F1 from 2021, competing in French colors to showcase the automaker’s sports-car brand, new company CEO Luca de Meo said. Alpine has a strong motorsport pedigree, in rallying and endurance racing, but has not previously featured in Formula One as a constructor. The Renault name will
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TIANJIN — China will roll out a new package of policies to support hydrogen fuel cell vehicles to improve the industry’s supply chain and technologies, a government official said on Saturday. China is the world’s biggest market for new energy vehicles (NEVs), which include battery electric vehicles as well as plug-in hybrid and hydrogen fuel
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Before Tesla CEO Elon Musk returned to the U.S. after a three-day visit to Germany, he made a final stopover to meet with one of his biggest competitors — Volkswagen Group CEO Herbert Diess. The two auto executives met for about two hours on Thursday evening at a small airport in Brunswick, where Musk test-drove
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PARIS – Renault Group has announced a new corporate structure pegged to four brands rather than geographic regions, in the first move by new CEO Luca de Meo to turn around the struggling automaker. Alongside Renault, Dacia and Alpine, a fourth business unit will be formed for new mobility, according to a statement Thursday. Top executives
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FRANKFURT — Continental plans to cut or transfer as much as 13 percent of its workforce to reduce costs by at least 1 billion euros ($1.2 billion) a year, deepening restructuring as the coronavirus adds to pressure on the auto industry. Some 90 percent of the restructuring measures, which could affect 30,000 jobs, will be
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German supplier Hella is planning a sale of its driver-assistance software unit, people familiar with the matter said. Hella is working with advisers to gauge interest in the business, the people said. It could fetch several hundred million euros, they said, asking not to be identified because the information is private. The unit may attract
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Veoneer will partner with Qualcomm Technologies on developing software for its driver assistance systems, the Swedish supplier said Thursday. The supplier of vision systems, radar and software for advanced driver-assistance systems said it had signed a non-binding letter of intent with the U.S. technology company and expected to finalize a definitive agreement in the second
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