Volvo Cars CEO says customers will pay for rising U.S. tariff costs On May 23, Volvo Cars CEO Hakan Samuelsson said that its customers would have to pay a large part of tariff-related cost increases, and that it could become impossible to import one of its most affordable cars to the U.S. if levies increase. U.S. President Trump said on May 23 that he was recommending a straight 50% tariff on goods from the EU starting June 1. Samuelsson said tha...

News  Updated at: 2025/05/24

the 2025 to 2028 tax years, seen as another incentive, beyond tariffs, to purchase domestically made vehicles. Only vehicles assembled in the U.S. would qualify for the tax breaks. The pool of eligible vehicles would also include RVs, trailers, all-terrain vehicles and motorcycles. Lease payments, title loans, fleet and commercial vehicle loans would not be eligible. The H.R. 1, the “One Big Beautiful Bill Act,” cleared the House on May 22 wi...

News  Updated at: 2025/05/24

Toyota recalls 443,444 Tundra pickups in U.S. over reverse lights On May 21, Toyota Motor Engineering & Manufacturing notified the U.S. National Highway Transportation Safety Administration (NHTSA) that it is recalling 443,444  2022-2025 Toyota Tundra and Tundra Hybrid pickups in the U.S.  Toyota said moisture may enter the reverse light assemblies and cause a light failure, which may reduce visibility, and not alert pedestrians and other drive...

News  Updated at: 2025/05/24

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

rating segments: Automotive tires, Two-wheel, and related distribution Road transportation tires and related distribution; Segment includes the Connected Solutions businesses. Specialty businesses and related distribution; Segment includes tire businesses for Mining, Aircraft, and Beyond-road activities, as well as Polymer Composite Solutions business. Global Tire Market -In 2023, the Company was the largest tire manufacturer in the world with ...

Major Suppliers  Updated at: 2025/05/23

Rightware, Finland partners with AMD for next-gen immersive smart cockpit On May 19, Rightware announced a collaboration with AMD to jointly create a pioneering reference design that brings together industry-leading design effects and features to become the new standard for future automotive human-machine interfaces (HMIs). The reference design is built on AMD x86 architecture and integrates ThunderSoft’s AI-native operating system AquaDrive OS...

News  Updated at: 2025/05/23

Infineon joins the board of directors of FiRa Consortium On May 20, Infineon Technologies AG joined the board of directors of the FiRa (fine-ranging) Consortium. This marks a significant step in the company’s commitment to further shaping the future of Ultra-wideband (UWB) across a wide field of use cases and verticals.  Having been an active contributor to FiRa since 2021, Infineon is now expanding its activities at the board level to further...

News  Updated at: 2025/05/23

Sono, Germany updates about Bus OEM factory partnership and collaboration with Ford On May 22, Sono Group N.V. announced that during the first quarter ended March 31, 2025, it commenced its first Bus OEM factory partnership, with initial buses leaving the assembly line of a European manufacturer featuring Sono Motors' solar integration solution. This development allows customers to purchase solar-equipped buses directly from the OEM. It also star...

News  Updated at: 2025/05/23

Arkema to unveil next-gen battery innovations at Battery Show Europe 2025 On May 21, Arkema announced that it will present its latest battery solutions for EVs and energy storage systems (ESS) at Battery Show Europe 2025 in Stuttgart, from June 3–5. At the event, Arkema will highlight its new technologies that improve battery safety, performance, and sustainability. Innovation materials for semi-solid batteries: These support gel electrolytes,...

News  Updated at: 2025/05/23

Stellantis strengthens local ties at Algeria suppliers’ convention, signs new deals to increase localization On May 22, Stellantis MEA hosted its second International Suppliers’ Convention in Oran on May 20-21, 2025, bringing together over 200 participants from more than 75 local and international automotive suppliers. The event highlighted Stellantis’ plans to grow a strong automotive industry in the Algerian market. It gave suppliers insi...

News  Updated at: 2025/05/23

MAN Truck signs agreement with Gartner KG, Austria for 1,200 next-gen semitrailer tractors On May 23, MAN Truck & Bus signed a new agreement with Austrian logistics company Gartner KG for up to 1,200 MAN semitrailer tractors by the end of 2028. Deliveries will begin in the summer 2025, with up to 350 trucks supplied each year. The trucks will feature the fuel-efficient and low-emission MAN PowerLion drivetrain. It is powered by MAN’s D30 engine...

News  Updated at: 2025/05/23

Mercedes Benz targets 45,000 fast chargers by 2030 On May 22, Mercedes Benz announced that it is moving steadily toward an all-electric future, aiming for a carbon-neutral new vehicle fleet by 2039. The speed of this shift will depend on customer demand and market conditions. A strong charging network is key to this transition. Expanding public charging will help make electric driving easier and more energy-efficient. To support this, Mercedes-Be...

News  Updated at: 2025/05/23

Sazgar, Pakistan reveals expansion plan and new model launches On May 20, Sazgar Engineering Works Limited announced that the expansion of the four-wheeler manufacturing facilities is scheduled for completion by March 31, 2026. The company will introduce a range of new New Energy Vehicle (NEV) models to strengthen its product lineup. It is also exploring new markets for export business. It is planning to expand its local dealership network. Based...

News  Updated at: 2025/05/23

Uzauto Motors Powertrain and TMK, Uzbekistan sign MoU for powder metallurgy products On May 20, Uzbekistan Technological Metals (TMK) met with the representatives of Uzavtosanoat JSC and Uzauto Motors Powertrain JSC. During the meeting, a memorandum of understanding was signed between TMK and Uzauto Motors Powertrain for the use of powder metallurgy products in the automotive industry and the localization of manufactured products. Within the fram...

News  Updated at: 2025/05/23

EV Electra to acquire HiPhi, China On May 19, the founder of EV Electra, in a social media update, announced its company's involvement in HiPhi’s restructuring. He did not disclose specific details. In a separate press release, on May 22, 2025, EV Electra announced that it recently took over a renowned Chinese electric vehicle brand once dubbed the “Maybach of EVs.” This luxury automaker brought with it a legacy of premium design and engine...

News  Updated at: 2025/05/23

TIER IV selects PlaxidityX, Israel to provide cyber security expertise for autonomous bus project On May 21, PlaxidityX announced that it is providing cybersecurity consulting services to TIER IV. In June 2024, TIER IV was selected for a government project to develop low-speed autonomous buses for airport terminal transfers in Japan. To meet safety standards, the project needed to comply with UN-R155 and ISO/SAE 21434 regulations.  PlaxidityX pe...

News  Updated at: 2025/05/23

Faraday Future to start operations at facility in Ras Al Khaimah, UAE in second half of 2025 On May 22, Faraday Future Intelligent Electric Inc. announced that it held a formal handover ceremony for its first regional facility in Ras Al Khaimah, United Arab Emirates, marking a significant milestone in the execution of its Middle East “Third Pole” strategy. The project was formally announced on May 21, 2025, during RAKEZ’s participation in M...

News  Updated at: 2025/05/23

JAECOO to launch J7 SHS plug-in hybrid SUV in South Africa On May 22, JAECOO announced the upcoming launch of the J7 SHS, a plug-in hybrid variant of the J7 SUV, in the South African market. The vehicle is scheduled to launch in June 2025, making it the second JAECOO-branded model to debut in the region. The vehicle is powered by a turbocharged 1.5-litre gasoline engine and an electric motor, paired with a dedicated hybrid transmission (DHT). It ...

News  Updated at: 2025/05/23

Nissan unveils new plan to expand manufacturing capabilities at Ávila plant, Spain On May 22, Nissan Ávila announced that it is embarking on a new plan aimed at enhancing collaboration within Nissan to broaden its manufacturing operations and create new opportunities across other sectors and industrial activities. The plant, with the introduction of new flexible production lines, can industrialize any replacement component, whether metal or pl...

News  Updated at: 2025/05/23

Hyundai India plans INR 70 billion capex for FY 2025-26 On May 16, Hyundai Motor India Limited, in an investor update, announced that it has planned a capex of around INR 70 billion in the financial year 2025-26 (ending March 31, 2026).  Out of the total planned capex, the major allocation will be around 40% for the Pune expansion and 25% for product-related investments. It will start the Pune plant in the third quarter of FY 2025-26. It is also...

News  Updated at: 2025/05/23