News

Italy is open to buying a stake in carmaker Stellantis, Industry Minister Adolfo Urso said on Thursday, as he set out plans to provide €950 m ($1 bn) in subsidies this year to help drivers switch to cleaner cars. …

Volvo Cars will stop providing funding to Polestar and will transfer responsibility for the brand to China's Geely, which is Volvo's majority shareholder. …

The Italian government is open to buying a stake in Stellantis, industry minister Adolfo Urso said, as he set out plans to provide €950 m ($1 bn) in subsidies this year to help drivers switch to cleaner cars. …

Automakers creating software-defined vehicles (SDVs) need to decide which control points they want to own in the technology stack. …

While automakers and suppliers are betting big on future demand for electric vehicles, a near-term global slowdown is causing pain, including bankruptcies, scrapped initial public offerings and production cuts. …

To conquer the European automotive market, China is not only developing its exports, but also investing locally, with a consequent reorganization of its supply chains. …

German electric-vehicle sales are projected to drop for the first time in eight years as signs of a slump in the EV market are spreading. …

Toyota Motor, said it would suspend shipments of some models including the Hilux truck and Land Cruiser 300 SUV after finding irregularities in certification tests for diesel engines developed by affiliate Toyota Industries. …

Polestar said it plans to cut around 450 jobs globally, about 15% of its total workforce amid "challenging market conditions." …

Hyundai has signed a deal to sell its two Russian plants, making the South Korean company the latest global automaker to exit Russia since the Ukraine conflict began. …