to the media before "clean room" equipment is installed. “We remain on track to start production of these batteries next year,” Drake said, noting that the company was committed to completing the plant even if Congress and President Trump make the project ineligible for tax incentives.  Under Inflation Reduction Act rules passed under former President Biden, companies could receive a production tax credit of USD 35 per kilowatt-hour for eac...

News  Updated at: 2025/06/25

nt’l Auto Show) with cutting-edge technologies and products such as power chassis systems, trim systems, and intelligent driving systems. The ECAS (electronically controlled air suspension) system adopts a 48V voltage to reduce current loss, deliver 3-4 times higher compressor power, increase the inflation speed by over 50%, and shorten the vehicle height adjustment time to 3-5s. The system allows for direct collaboration with high-voltage syst...

News  Updated at: 2025/06/10

Iveco Group signed a new agreement with trade unions for the 2025–2026 economic portion of its labor contract, covering over 14,000 employees in Italy. This follows the 2023–2026 Collective Labor Agreement signed in March 2023. During discussions that began in December 2024, both sides reviewed inflation trends and agreed on a 6.5% wage increase over two years. Employees will also receive two one-time payments of EUR 240. Based on Iveco Group...

News  Updated at: 2025/06/09

share), BYD (up 60.8% to 53.4 GWh, 17.3% share), LG Energy Solution (up 16.3% to 31.4 GWh, 10.2% share), SK On (up 24.1% to 13.4 GWh, 4.3% share), CALB (up 21.4% to 11.9 GWh, 3.9% share). The United States is accelerating global supply chain restructuring not only through policy changes such as the Inflation Reduction Act (IRA) and AMPC for battery subsidies, but also by strengthening regulations on Chinese-made batteries and raw materials. In re...

News  Updated at: 2025/06/05

cleared the House on May 22 with a 215-214 vote. It goes to the Senate next, and President Trump before becoming law. The bill’s main provisions include making parts of the 2017 Tax Cuts and Jobs Act permanent, but also eliminates tax credits for new, used and commercial EVs that were part of the Inflation Reduction Act of 2022. (multiple sources on May 23, 2025)...

News  Updated at: 2025/05/24

ated revenues for FY2024 decreased by 0.4% year-on-year (YoY) to JPY 12,633.2 billion. Operating profit declined by 87.7%  to JPY 69.8 billion, while net loss for the period was JPY 670.9 billion. Operating profit fell sharply due to a decrease in sales volume, an increase in sales incentives, and inflation. The company recorded an extraordinary loss of JPY 623.8 billion, including impairment losses and restructuring costs. Global retail vehicle...

News  Updated at: 2025/05/14

he first three months of 2025, with major markets such as Germany, Italy, and France all recording negative growth. The recovery seen in 2023 has stalled and the region is now experiencing a downturn. Economic conditions are a major factor behind the decline. Eurozone GDP remains sluggish, and high inflation persists, leaving the European Central Bank (ECB) facing increasing uncertainty regarding its monetary policy and decision to cut interest r...

News  Updated at: 2025/05/08

oY, while MINI delivered 64,615 vehicles, i.e., an increase of 4.1% YoY. It delivered around 109,513 all-electric vehicles, an increase of around 32.4%. BMW group confirms 2025 outlook despite global uncertainty. The IMF cut its global growth forecast to 2.8% for April 2025, citing trade conflicts, inflation risks, and uncertainty among businesses and consumers. BMW expects demand to rise in many markets, supported by easing inflation and possibl...

News  Updated at: 2025/05/07

esident Trump marked a major shift in trade policy. It represents the U.S.'s departure from the rules-based global trading order, and this protectionism will hurt economies worldwide, reducing growth and prosperity, the statement said. U.S. consumers will face higher prices and fewer choices due to inflation. Tariffs also reduce competition, slowing innovation and weakening U.S. companies globally. Even within U.S. industries, there has been stro...

News  Updated at: 2025/04/04

y and a collective dismissal through its local subsidiary Bridgestone Hispania Manufacturing. The scale of the capacity reduction and the number of workers subject to dismissal will be decided through negotiations. This announcement is driven by changes in the European business environment, such as inflation and regulatory changes, as well as an increasing market share by low-priced tires imported from outside Europe. (From an article in the Nikk...

News  Updated at: 2025/04/03

Basauri (Basque Country). This decision is driven by changes in the European tire market, which requires adjustments to the company's production structure for greater competitiveness and sustainability. The agricultural radial (AGR) and truck and bus radial (TBR) tire sectors have contracted due to inflation, uncertainty, and regulatory changes, while the rise of non-European manufacturers has increased competitive pressure. According to several ...

News  Updated at: 2025/04/02

L&F to invest in Mitra Future Technologies South Korea’s L&F Co., Ltd. announced a decision to invest KRW 14.5 billion (JPY 1.45 billion) in a US-based lithium ferro-phosphate (LFP) cathode material manufacturer, Mitra Future Technologies Inc. (Mitra Chem). Mitra Chem was established in 2021 to set up an LFP supply chain in the U.S. and produce products that comply with the Inflation Reduction Act (IRA). Through this investment, L&F plans to re...

News  Updated at: 2025/03/25

sing the utilization of existing assets in the timely development, production, and market introduction of diverse products and electrification technologies. The effects of the "Lean Asset Strategy" are as follows: Investment in electrification by 2030 is expected to be around JPY 2 trillion due to inflation, will be reduced to around JPY 1.5 trillion in total through optimization of investments such as battery investment. Of this amount, in comp...

News  Updated at: 2025/03/18

erns are likely to impact them: 1) the slowdown of BEV production in Europe and the influx of Chinese-built BEVs, which may result in reduced Korean battery penetration; and 2) potential changes in the U.S. automotive industry under the Trump 2.0 administration, which could lead to revisions of the Inflation Reduction Act (IRA). Nevertheless, we foresee that BEV demand in Europe will continue to rise due to the strengthening of CO2 emission targe...

News  Updated at: 2025/03/14

y AMIA, INA, AMDA, and ANPACT, expressed deep concern over the 25% tariffs imposed by the United States on Mexican and Canadian products under the International Emergency Economic Powers Act (IEEPA). Industry associations warned that this measure could undermine regional competitiveness, leading to inflation, job losses, and slower economic growth across North America.   In an official statement, they emphasized that the automotive and auto part...

News  Updated at: 2025/03/06

Vehicle Experience (EVX) Ownership Study that owners of both premium and mass market BEVs are expressing an increase in sentiment this year, fitting in well with the fact that BEVs reached a market share of 9.1% in 2024, up from 8.4% in 2023, as a number of new mass market BEV models arrived.  The Inflation Reduction Act more than doubled the amount of owners who received a federal tax credit/rebate, and more than half of BEV buyers cited tax cr...

News  Updated at: 2025/02/26

U.S. consumer sentiment declines for second consecutive month on tariff worries On February 21, the latest University of Michigan’s monthly sentiment survey took a marked shift downward as Americans expressed increasing concern about President Donald Trump’s proposed import tariffs and continuing inflation. Joanne Hsu, the Michigan survey’s director, said in a release that the broad decline was “in large part due to fears that tariff-indu...

News  Updated at: 2025/02/22

s and salary reductions. To mitigate these effects, companies in Puebla may need to automate processes and reduce workforce reliance. Sosa Spínola also warned that expansion projects may be halted and called on authorities to intervene. Additionally, he noted that these tariffs could contribute to inflation in the U.S. (Mexico Now on February 17, 2025)...

News  Updated at: 2025/02/19

product maturing in 2025 and needing to be refinanced, additional selling pressure from foreign official creditors unloading their holdings could push interest rates up significantly,” Orszag warned. Many economists have already warned of higher interest rates within the U.S. due to tariff-caused inflation and instabilities caused by large tax cuts. Orszag emphasized that while the U.S. initiates the tariffs, it could face other significant eco...

News  Updated at: 2025/02/19

31, 2025 (April 1, 2024 through December 31, 2024) decreased by 0.3% year-on-year to JPY 9,143.2 billion. Operating income decreased by 86.6% year-on-year (YoY) to JPY 64.0 billion. Net revenue and profits decreased year on year due to a decrease in unit sales, an increase in sales incentives, and inflation. Net income attributable to owners of the parent decreased 98.4% to JPY 5.1 billion. Global retail vehicle sale was 2.397 million units, dow...

News  Updated at: 2025/02/14