ployees at Bosch Engineering in Germany -The Company announced a plan to cut the working hours of 2,300 employees at its subsidiary, Bosch Engineering GmbH, which specializes in developments in the automotive sector. The decision is due to the tense situation in the mobility sector and the existing overcapacity and high-cost pressure. Starting in October 2024, weekly hours will initially be reduced from 40 to 37 hours, with a further hour to be c...

Major Suppliers  Updated at: 2025/05/29

orted that Audi's Brussels factory may resume operations next week. Initially, operations were scheduled to resume this week, but unions expect it to remain closed for at least another week. The final decision will be discussed with social partners on August 22, 2024. The plant faces closure due to overcapacity and high production costs, partly blamed on Belgium’s labor costs and the plant’s challenging location. While Audi is exploring alter...

OEM Plants  Updated at: 2025/05/23

ithin the next five years JLR will start production in China at its plant in Dalian, which was a planned site of Fuji Heavy Industries (FHI). Earlier, FHI was reported as a prospective joint venture partner of JLR. Meanwhile, Chinese government may not approve the JLR-Chery joint venture to control overcapacity. Jaguar Land Rover (JLR), operating under Tata Motors, has signed a memorandum of understanding with Chery Automobile on the establishmen...

OEM Plants  Updated at: 2025/05/16

ring and sales of drive parts for NEVs. (From a Taicang press release dated January 31, 2023) Schaeffler AG (Schaeffler) announced that it will cut 1,300 positions worldwide, mainly in the Engine & Transmission Systems business of its automotive division. Schaeffler decided to adjust because of the overcapacity in products, especially for internal combustion engine vehicles, due to the accelerating transformation to electrification. This restruct...

Major Suppliers  Updated at: 2025/05/09

rs business unit. Lavradio is one of seven sites in the Carbon Fibers business unit and currently employs around 250 people to manufacture acrylic fibers and precursors for carbon fibers. The closure of the Lavradio site is necessary due to a significant drop in demand for fiber products and global overcapacity in acrylic and carbon fibers. Higher manufacturing and energy costs in Europe make Lavradio less competitive, especially against lower-pr...

News  Updated at: 2025/05/07

n by the end of 2022 at the latest. In addition to financial compensation, the social plan includes numerous measures to provide the best possible support for affected employees during the transformation phase. The discontinuation of production in Aachen is unavoidable due to the massive structural overcapacity in the European tire market. It has not been growing for several years and a recovery in market demand is not expected in the foreseeable...

Major Suppliers  Updated at: 2025/04/22

tinue to keep a high presence in France, notably through sales and retail operations with about 3,500 employees. Given the challenging long-term evolution of the industry in the European passenger tire market, Bridgestone has to consider structural measures to ensure the reduction of its production overcapacity and improve its cost efficiency. Bridgestone intends to minimize the impact on the region as much as possible by deploying a solid employ...

Major Suppliers  Updated at: 2025/04/18

ithin the next five years JLR will start production in China at its plant in Dalian, which was a planned site of Fuji Heavy Industries (FHI). Earlier, FHI was reported as a prospective joint venture partner of JLR. Meanwhile, Chinese government may not approve the JLR-Chery joint venture to control overcapacity. On December 13 Chery Automobile Co., Ltd. and SK Telecom of South Korea have established a collaborative experimental laboratory on the ...

OEM Plants  Updated at: 2025/04/14

plant will manufacture future NIO and Onvo models. President of NIO said that two existing NIO plants in Hefei have reached the designed single shift production capacities. As the two plants can no longer fulfill market demand with their capacities given the launch of new models, NIO is not facing overcapacity. On September 29, Nio Inc. (NIO) signed a strategic investment agreement with three existing shareholders of NIO Holdings Ltd. (NIO Holdi...

OEM Plants  Updated at: 2025/04/08

Minerals Group has acquired the entire share capital of CNGR Finland. Finnish Minerals Group previously held a 40 % minority stake in the company. The decision stems from the globally challenging market situation for precursor materials used in lithium-ion battery production. There is a significant overcapacity in China and the Pacific region, and tariffs imposed by the US have created uncertainty in the electric vehicle market, forcing companies...

News  Updated at: 2025/04/07

ence, and big data. The project will promote cooperation to facilitate the development of smart NEV (New Energy Vehicle) industry in Beijing. According to major media reports on March 7, Hyundai Motor Corporation stated that it might stop production at Beijing Hyundai’s first plant, due to severe overcapacity as a result of a sharp sales decline in the Chinese market. The automaker now has three plants in Beijing. According to a statement relea...

OEM Plants  Updated at: 2025/03/28

and administration. Meanwhile, an additional 6,000 jobs will be transferred to external service providers or eliminated through the sale of business activities. This plan is a part of the company's future industrial strategy in response to structural changes in the European steel market, including overcapacity and increasing cheap imports from Asia. (From a press release dated November 25, 2024)  ThyssenKrupp Carbon Components and Maxion Wheels...

Major Suppliers  Updated at: 2025/03/13

ive business performance in the Americas and Asia regions, with the Asia region serving as the primary growth engine for the Company. This will be offset by headwinds in the Company’s Europe segment caused by factors including weakening regional demand, increased competition from Chinese imports, overcapacity, decreased exports, and decreased BEV production growth. As such, the Company has begun a multi-year plan to improve performance and prof...

Major Suppliers  Updated at: 2025/03/11

the lineup with the technology by 2025. The company will also cooperate with top ICT (Information and Communication Technology) enterprises. According to major media reports on March 7, Hyundai Motor Corporation stated that it might stop production at Beijing Hyundai’s first plant, due to severe overcapacity as a result of a sharp sales decline in the Chinese market. The automaker now has three plants in Beijing. According to a statement relea...

OEM Plants  Updated at: 2025/02/21

4, VW Group labor and management agreed to postpone the closure of its German plants for the time being, but to reduce production capacity by 734,000 units and cut employee numbers by 35,000 by 2030.   Labor and management have focused their discussions on three key issues critical to VW's future: overcapacity in Germany, reducing labor costs, and restoring competitiveness in development costs. VW claims to have established the basic conditions ...

Market & Tech Reports  Updated at: 2025/02/10

2% to 14.8% influenced by a drop in Germany (down by 26.6% y/y). Sales of PHVs fell by 4.1% y/y while deliveries of HVs grew by 18.9% y/y.   Many automakers, which have renovated their plant facilities and trained their employees to prepare for EV production in the future, are facing manufacturing overcapacity. Some companies decided or are considering reductions in their workforces.   Sales of electrified vehicles (EVs, PHVs and HVs) in Europe...

Market & Tech Reports  Updated at: 2024/12/25

CEO seeks a new path forward for the struggling company. The industry minister is scheduled to meet Stellantis representatives on December 17, 2024, for the first time since Tavares’s exit. Additionally, the government is expected to announce more incentives for the industry. Stellantis, facing overcapacity in Europe, is likely to commit to producing new models at its Italian plants, benefiting local suppliers. (Based on multiple sources)...

News  Updated at: 2024/12/16

ther measures, such as eliminating anniversary bonuses and pre-2005 employee protections, are essential for efficiency. Both sides aim to finalize an agreement that balances cost savings with investments in sustainable products through the 2030s. Discussions will resume on December 16, with factory overcapacity and cost concerns remaining critical topics. (VW Group press release on December 12, 2024)...

News  Updated at: 2024/12/10

affected locations in Germany. It is now revealing specifics for four additional locations in Europe. It will cease production in the Sheffield location in the UK which comes under the Powertrain & Chassis division and primarily manufactures clutch systems for passenger cars. The location is facing overcapacity due to a shift towards automatic transmissions in ICE cars and powertrain electrification. Schaeffler plans to relocate passenger car clu...

News  Updated at: 2024/11/27

and administration. Meanwhile, an additional 6,000 jobs will be transferred to external service providers or eliminated through the sale of business activities. This plan is a part of the company's future industrial strategy in response to structural changes in the European steel market, including overcapacity and increasing cheap imports from Asia. (From a press release dated November 25, 2024) ...

News  Updated at: 2024/11/26