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Slumping used EV prices force automakers to repay leasing firms

Automotive Industry Automotive News Europe - 2024-02-22

Leasing companies are demanding concessions from EV makers, including agreements that manufacturers will buy back vehicles, to protect against further erosion in the $1.2trn second-hand car market. …

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Rivian, Lucid's 2024 production targets disappoint as EV demand wanes

Automotive Industry Reuters - 2024-02-22

Electric vehicle startups Rivian (RIVN.O) and Lucid (LCID.O) forecast 2024 production well below analyst estimates on Wednesday as persistently high borrowing costs keep consumers from buying relatively pricier battery-pow …

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EV sector grapples with layoffs, production cuts and altered plans

Automotive Industry Reuters - 2024-02-22

A global slowdown in electric-vehicle demand is rippling through the industry, costing jobs and leading to changes in strategic plans, layoffs and production cuts, suggesting pain in the near term could slow the transition away from gaso …

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Tesla faces rejection from locals for plans to expand German site

Automotive Industry Automotive News Europe - 2024-02-21

Tesla want to double the site's capacity to 100 gigawatt hours of battery production and 1m cars per year. …

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Amid EV shift, German supplier jobs forecast to fall by a quarter by 2030

Automotive Industry Automotive News Europe - 2024-02-21

Suppliers will continue to have a harder time than automakers in the coming years, especially as the trend towards insourcing will accelerate among automakers. …

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EV charging void has drivers trying new routes to power up

Automotive Industry Reuters - 2024-02-21

Electric vehicle drivers unable to install a charger at home are turning instead to stopgaps offered by US and European firms as alternatives to often expensive or inconvenient public charging points. …

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Europe's automakers need to play the long game to stay in the EV race

Automotive Industry Automotive News Europe - 2024-02-21

Slowing the electrification shift now with the aiming of catching up when margins are better is the wrong approach -- for the planet and for companies' survival. …

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VW, Renault and Stellantis under pressure to team up on cheap EVs

Automotive Industry Automotive News Europe - 2024-02-20

Chinese rivals and Tesla are exposing competitive weaknesses at Europe's biggest mass-market automakers. …

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Stellantis could build Leapmotor EVs in Europe, North America, CEO Tavares says

Automotive Industry Automotive News Europe - 2024-02-20

If Western governments block Chinese exports, Stellantis has the opportunity to build Leapmotor cars "inside the bubble," Carlos Tavares said. …

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Japanese automakers forge ahead with EV investments despite slowdown

Automotive Industry Automotive News Europe - 2024-02-19

Japan’s automakers are maintaining their investments in electric vehicles despite cooling sales. …

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