Automotive Industry

Audi Mexico proposed a 19.5 percent overall increase to its employees in Puebla, including 4.6 percent to wages and 14.9 percent in benefits.

May 21, 2026 Reported by AI

German automotive supplier Eberspächer is significantly expanding its China operations. CEO Jörg Steins announced plans to raise the Asia business share from eight to 24 percent. New orders for battery housings and exhaust systems support the effort.

The CEOs of Volkswagen and Stellantis have called for a "Made in Europe" strategy in an op-ed to bolster electric vehicle production in the EU. They seek to relax EU climate rules in favor of domestic manufacturing and introduce financial incentives like a CO₂ bonus. The aim is to secure investments in Europe and address geopolitical challenges.

February 04, 2026 Reported by AI

South Korea's industry ministry announced on Thursday plans to provide up to 464.5 billion won ($317.6 million) in support for the automotive sector this year to bolster competitiveness in cutting-edge technologies like autonomous driving. The initiative follows record auto exports of $72 billion last year, despite U.S. tariffs. Focus areas include self-driving systems and electric and hydrogen vehicles.

Chinese carmakers sold more than 2.6 million electric vehicles to overseas markets last year, up 104 percent from the previous year, according to the China Association of Automobile Manufacturers. As the world's leading EV producer, China benefits from low production costs and advanced battery technologies that make its vehicles highly competitive globally. Yet, export growth is now facing a slowdown.

January 05, 2026 Reported by AI

In the latest developments following BYD's overtake of Tesla as the world's top EV seller in 2025—with 2.26 million battery electric vehicles to Tesla's 1.64 million amid an 8-9% annual decline—new data highlights Tesla's sharp sales drops in key markets, Cybertruck shortfalls, and booming energy storage business.