Manufacturing

Lear has recorded a third-quarter net income loss of US$27m, while sales fell 13% to US$4.3bn, reflecting worldwide vehicle production falls related to the global semiconductor shortage. Company highlights: Entered into a definitive agreement to acquire substantially all of Kongsberg Automotive’s Interior Comfort Division Increased revolving credit facility to US$2bn and extended maturity to October, […]

Next.e.GO Mobile, an independent German maker of electric city vehicles has launched a battery swap service. A depleted battery can be exchanged for a fully charged one in a designated e.GO battery swap station dubbed e.Pit. The original battery, fully charged, can be swapped back in within a month. Customers remain the owner of their

Last month, US President Joe Biden confirmed that the current Deputy Administrator of the National Highway Traffic Safety Administration (NHTSA), Steven Cliff would be promoted to the role of administrator for the agency. Cliff will take over the NHTSA at a crucial time for road safety development – road deaths are growing at an alarming

StoreDot says it has secured a patent for a digital battery system for EVs. The new system developed by StoreDot will be open-source and available to any other technology provider. The Israeli company notes it is “furthering its mission to enhance the entire electric vehicle ecosystem,” with an approved patent for a technology giving automotive

Although BMW Group vehicle deliveries were down 12% in the third quarter, BMW reported a sharp increase in profits as it benefited from a richer sales mix helped by soaring sales of its electrified vehicles. BMW reported net profit for Q3 of EUR2,584m, 42.4% up on the same quarter last year (with automotive revenues up

Gefco UK has appointed Youssef Bajddi as its new Finished Vehicle Logistics director. Youssef brings 14 years of experience working in international supply chain operations and strategy. He has been part of the Gefco Group for the past ten years, having joined the business in 2011 as a supply chain analyst. During his time at

The Bugatti Rimac joint venture has begun operations in Sveta Nedelja, Croatia, under CEO Mate Rimac, founder and CEO of the automaker which bears his name. Porsche will play a major role with chairman Oliver Blume and finance chief Lutz Meschke both on the supervisory board. Bugatti Rimac will be owned by the Rimac Group