Chinese car makers, led by Geely's Zeekr and Xpeng Motors, will pose a challenge for Japanese giants at the Bangkok International Motor Show. They aim to expand in Southeast Asia, targeting Thailand's premium EV market, intensifying competition in the region.
The South Korean government said on Wednesday that it has imposed fines totalling 10.3 billion won (USD 7.6 million) on 10 foreign and domestic automakers for selling cars with inadequate safety standards.
FCC Chairwoman Jessica Rosenworcel last month wrote to nine large automakers and three telecom providers seeking more information about their policies involving internet-connected car technology and domestic abuse. The federal Safe Connections Act gives the FCC authority to help domestic abuse survivors securely access communications, the letter said.
Automakers, including Ford Motor, General Motors , Mercedes, have scaled back on their ambitious EV plans. Electric vehicle demand has slowed of late, suggesting the transition away from traditional internal combustion engine vehicles will take longer than expected.
The bumper payouts helped soothe investors' concerns over the outlook for European automakers as they struggle with competition from cheaper Chinese rivals, higher costs and tepid demand as consumers face rising borrowing costs.
The White House could enact proposed Environmental Protection Agency regulations as soon as March that would mandate dramatic reductions in tailpipe emissions. The administration proposal would require boosting U.S. EV market share to 67% by 2032 from less than 8% in 2023.
The acquisition places Renesas at the forefront of dealmaking and investment in Japan's chips industry, with the government making efforts to improve competitiveness and boost supply chain resilience against geopolitical shocks.
The group said it would propose a 1.55 euro per share dividend, up about 16% from a year earlier, and that it would run during 2024 a share buy back programme worth 3 billion euros. For this year, Stellantis stood by its forecast for double-digit margins on adjusted operating profit and positive industrial free cash flow, even as the carmaker faces higher labour costs in North America. It has given the same outlook for the past two years.
Aston Martin declined to comment on the report, which did not mention who the company has contacted or why it was looking to replace Felisa. Former Ferrari NV boss Felisa took the helm at Aston Martin in May 2022, succeeding Tobias Moers who stepped down after less than two years in the role.
Accumulative sales of eco-friendly vehicles produced by Hyundai Motor and Kia, South Korea's leading automakers, are expected to exceed 1 million units in the first quarter, the companies said on Friday.
More than a decade after Tesla debuted cars with software that could be upgraded over the air like a smartphone, established automakers are still running behind in efforts to develop what the industry calls "software-defined vehicles," industry executives said this week.
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