Clarity (Honda)

On July 18, Volvo Cars announced that it would face complexities for the EX30 model in the short term due to potential EU tariffs on Chinese EVs. The company will gain clarity on the impact of tariffs once the EU investigation concludes later in 2024.

The company expects a rise in the market share of fully electric cars compared to 2023, supported by its recent car launches. However, it also believes that economic and political uncertainties will continue.

Despite facing macroeconomic and geopolitical complexities, the company still expects its cash flow to be neutral for the full years 2024 and 2025, supported by its strong operational fundamentals.

Based on Volvo Cars press release

On July 9, FIOM-CGIL and FIM-CISL unions announced the highlights regarding the situation in the Termoli plant as it is the contradictions of a poorly planned transition by European policy and there is a lack of clarity from ACC and Stellantis. The indefinite delay of ACC's battery factory project has threatened Termoli and Italy's auto supply chain.

The unions urge Stellantis to take responsibility and allocate new engine production to Termoli's mechanical factory to safeguard employment during the transition to battery production. Also, urges the government to act swiftly to ensure ACC remains in Italy and safeguarding the fund EUR 350 million allocated for the gigafactory project must be protected. Key issues include ensuring social guarantees, Italian competitiveness, and addressing energy costs.

For the September 2024 meeting with the Ministry of Business and Made in Italy, unions are prepared to negotiate and mobilize, recognizing the importance of Termoli plant, and Italy’s future.

Based on FIOM-CGIL and FIM-CISL press release

On July 8, INEOS Automotive confirmed that it is delaying the launch of its all-new 4X4 vehicle, INEOS Fusilier, due to slow consumer adoption of electric vehicles (EVs) and uncertainty in the industry regarding tariffs, timing, and taxes. The carmaker highlighted achieving net-zero targets requires policymakers to provide long-term clarity, along with the availability of multiple technology options that consider factors such as raw materials, infrastructure, and affordability.

According to the company, INEOS being a new small-volume manufacturer can only produce vehicles that will sell. Fusilier being an EV with the option of a range extender, uses a gasoline engine that charges the electric battery, which will be prohibited in both Europe and the UK by 2035.

The vehicle was unveiled in February 2024 and was announced that it would be manufactured in partnership with the automotive supplier and independent contract manufacturer, Magna Steyr, at its facility in Graz, Austria.

Based on information received from INEOS Automotive