KGM aims to launch 7 new SUV and MPV models by 2030 On June 17, multiple sources reported that KGM held its ‘KGM Forward’ event at its headquarters in Pyeongtaek, where the company unveiled its mid- to long-term strategic roadmap. At the event, KGM highlighted the expansion of its SUV-focused lineup and enhanced collaboration with global partners as its core strategies. KGM plans to introduce seven new models by 2030, including practical, exp...

News  Updated at: 2025/06/19

Hexagon Purus, Norway signs new agreement for zero-emission technology with Hino Trucks in U.S. On June 16, Hexagon Purus signed a long-term agreement with Hino Trucks for the production and supply of Class 6 and 7 battery electric straight trucks for the US market. The vehicles will be based on Hino’s chassis and upfitted with Hexagon Purus’ proprietary zero-emission technology, including battery systems, auxiliary modules, and power modules...

News  Updated at: 2025/06/17

Marelli files Chapter 11 bankruptcy in U.S. to restructure financial position Marelli Corporation (Marelli) has voluntarily filed for chapter 11 cases in the United States Bankruptcy Court for the District of Delaware to comprehensively restructure its long-term debt. Approximately 80% of the company’s lenders have signed a Restructuring Support Agreement (RSA) to deleverage its balance sheet and strengthen its liquidity. The company has also s...

News  Updated at: 2025/06/12

0 employees attended a meeting at the VW Kassel plant in Germany. The works council clearly stated their views and what they expect from VW's leadership, especially given the current economic and political challenges. The main topics were the challenges of the company's transformation, the need for long-term investments, and how to secure the future of the Kassel plant. The employees have played a big part in shaping these changes in recent years...

News  Updated at: 2025/06/10

NavInfo, Alibaba Cloud forge strategic partnership NavInfo Co., Ltd. (NavInfo) signed a strategic cooperation framework agreement with Alibaba Cloud Computing Co., Ltd. (Alibaba Cloud) to forge a long-term strategic partnership.  The two companies will deeply integrate NavInfo’s core capabilities in areas such as assisted driving, AI Infra, and intelligent cockpits with Alibaba Cloud’s technology advantages in cloud computing, AI, and globa...

News  Updated at: 2025/06/10

Volkswagen and OPPO signs global patent agreement to power connected cars On June 5, OPPO signed a global patent licensing agreement with Volkswagen Group, allowing the automaker to use OPPO’s cellular standard-essential patents, including 5G, across its connected vehicles worldwide. It is OPPO’s first direct licensing deal with a connected-car company, showing how its technologies are expanding beyond smartphones and into the automotive indu...

News  Updated at: 2025/06/06

EGA, UAE to supply solar aluminum to Hyundai Mobis On May 30, Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates, announced an agreement to increase its CelestiAL solar aluminum supply to Hyundai Mobis. CelestiAL solar aluminum is the world’s first aluminum made commercially with solar power, significantly reducing greenhouse gas emissions. The agreement is an extension of an existing supply agreement wi...

News  Updated at: 2025/05/30

GAC officially launches and presents new models in Brazil On May 23, GAC held the Brazil Brand Launch and New Models Unveiling Event at the Anhembi District in São Paulo, unveiling its "Brazil Action Plan" – the first substantive implementation of "One GAC 2.0" global strategy in Latin America. The "Brazil Action Plan" focuses on four long-term directions: full industry chain deployment, energy ecosystems, talent development, and cultural inte...

News  Updated at: 2025/05/28

Goodyear Tire & Rubber announces divestiture of chemical business On May 22, the Goodyear Tire & Rubber Company announced that it has signed a definitive agreement to sell the majority of its Goodyear Chemical business to Gemspring Capital Management, LLC.  Goodyear Chemical is a leading producer of synthetic rubber, offering a broad product portfolio in North America and serving the automotive aftermarket as well as the consumer and industrial ...

News  Updated at: 2025/05/24

Tencent Cloud, WeRide forge partnership for commercial operation of Robotaxis Tencent Mobility, a division of Tencent Group, announced that Tencent Cloud Computing (Beijing) Co., Ltd. (Tencent Cloud) signed an agreement on deepening strategic cooperation with WeRide to further promote long-term in-depth cooperation in areas such as large-scale commercial operation of Robotaxis, R&D of intelligent driving technology, and expansion of markets outs...

News  Updated at: 2025/05/22

making it a subsidiary. Toho Seni is engaged in the development of various fabrics. By acquiring the development capabilities of Toho Seni, Kyowa Leather intends to improve development speed and achieve further cost reduction. Also, the company sees the acquisition will contribute to realizing its long-term vision and medium-term management plan which Kyowa Leather announced in May 2024. While the conclusion of the basic agreement is scheduled i...

News  Updated at: 2025/05/20

as well as the Buick Encore GX and Envista, in its three South Korea plants almost exclusively for the U.S. market leaves it uniquely exposed to President Trump’s 25% auto import tariffs. Until April’s tariffs, cars sold between the U.S. and South Korea were untaxed under a bilateral free trade agreement, and the Chevrolet Trax had been South Korea’s most-exported car since 2023. With factories in Mexico and Canada, as well as Korea, GM cur...

News  Updated at: 2025/05/20

Japanese OEM’s concerns deepen over impact from U.S. Trump tariffs Some confusion has arisen among Japanese automakers, which have been unable to fully comprehend the impact of the U.S. Trump administration’s tariff policy. While automakers intend to closely monitor tariff negotiations between the U.S. and Japan, it is difficult to predict details of agreement and make reasonable calculations for the future due to constant changes in the U.S....

News  Updated at: 2025/05/14

Trump downplays negotiations and shifts trade strategy, dictating terms to partners On May 6, U.S. President Donald Trump, during a meeting at the White House with Canadian Prime Minister Mark Carney, announced a shift in approach to international trade negotiations. Trump indicated that he would dictate tariff levels and trade concessions for countries seeking to avoid higher duties, a departure from traditional negotiation tactics involving bac...

News  Updated at: 2025/05/08

UK-India trade deal to cut auto tariffs, boost bilateral automotive trade On May 6, the United Kingdom and India concluded talks on a comprehensive Free Trade Agreement (FTA) that is set to benefit the automotive sectors in both countries.  As part of the agreement, after staging over 10 years, India will eliminate tariffs on 85% of tariff lines covering 66% of existing UK exports. The deal covers tariff reductions on components such as auto par...

News  Updated at: 2025/05/07

VinFast secures USD 190 million loan for EV plant in Indonesia On May 2, 2025, VinFast announced the signing of a long-term syndicated loan agreement worth IDR 1.85 trillion (approximately USD 110 million), with an additional USD 80 million accordion facility. The agreement was made in collaboration with Indonesia's state-owned Bank Negara Indonesia (BNI) and PT Bank Maybank Indonesia Tbk (Maybank). The funds will be used to finance the construct...

News  Updated at: 2025/05/06

Stellantis, and Iveco workers strike over wages and job security On April 18, the FIOM-CGIL union announced that the workers at several Stellantis plants (Mirafiori, Verrone, Pratola Serra, Termoli, Atessa, Cassino), and Iveco (Piacenza, Foggia, Turin, Brescia, Suzzara) are on strike, demanding fair wages. Discussions for the renewal of the two-year CCSL agreement have stalled, creating a serious wage issue—especially in Stellantis, where worke...

News  Updated at: 2025/04/21

Lyft, US to acquire FREENOW from BMW Group and Mercedes-Benz Mobility On April 16, Lyft, Inc. announced that it has entered into a definitive agreement to acquire FREENOW, a leading European multi-mobility app with a taxi offering at its core, from BMW Group and Mercedes-Benz Mobility for approximately EUR 175 million in cash. The transaction is expected to close in the second half of 2025, subject to customary closing conditions. FREENOW will ke...

News  Updated at: 2025/04/17

orsening working conditions caused by a new car conveyor system. Addfitionally, the representatives from the three union branches and interested staff will gather at Volkswagen’s main entrance to protest against the new car carrier system on April 24, 2025.  The unions said that after the C-hook agreement with management, the new "octopus" hooks were added to the production lines. The unions claim that the management used the deal to avoid res...

News  Updated at: 2025/04/15

CATL, Sinopec forge partnership for battery swapping Contemporary Amperex Technology Co., Ltd. (CATL) signed a cooperation framework agreement with Sinopec in Beijing. Under the agreement, the two companies will fully deepen their long-term strategic partnership by establishing a battery swapping ecosystem covering the whole of China. They will co-build no less than 500 battery swapping stations in 2025 and increase the number to 10,000 in the lo...

News  Updated at: 2025/04/08