Global automaker Stellantis announced that it will further cut its workforce to adapt to the ongoing transformation of the electric vehicle market. The company’s chief financial officer Natalie Knight revealed that the plan will focus mainly on the North American market and include measures to outsource some engineering work. Stellantis’ decision is part of […]
San Antonio, Texas, June 24, 2024 — Toyota has confirmed plans to invest $531 million in its assembly plant near San Antonio, Texas. This significant investment is aimed at producing “powertrain components” for the Tundra and Sequoia vehicles, creating over 400 new jobs in the region. Boosting Local Manufacturing Toyota’s investment will enhance its […]
June 23, 2024 — Automotive News has released its 2024 ranking of the world’s top 100 automotive suppliers. Bosch, ZF Friedrichshafen, and Magna International secured the top three positions, respectively. Chinese companies made a significant presence on the list, with 15 companies featured, including five in the top 50. Contemporary Amperex Technology Co. Limited (CATL) […]
Maranello, June 24, 2024 — Ferrari CEO Benedetto Vigna recently announced that Ferrari will focus on enhancing production flexibility at its newly built electric supercar production facility. This initiative aims to shorten the development and launch time for new models, rather than merely increasing output. Vigna stated at a press conference, “We aim to […]
According to Yonhap News Agency, on June 23, the Korea Automobile Association (KAMA) said that South Korea’s automobile exports in 2024 are expected to hit a record high thanks to strong demand for environmentally friendly models and SUV models. According to KAMA’s forecast, this year, South Korea’s automobile exports will increase by 5.4% year-on-year […]
We learned a few days ago that the Canadian government of Justin Trudeau is preparing to impose new tariffs on electric vehicles made in China to “align Canada” with the actions taken by the United States and the European Union. However, the report said that Trudeau took cautious action because of concerns about China’s “retaliation.” […]