Auto Industry News

While analysts continue to debate the overall effectiveness of economic curbs on Russia, there can be no doubt they have hit hard in its car industry, which was heavily reliant on foreign manufacturers and imported parts.

Nuevo Leon - which recent reports suggest is now the most likely destination - boasts quick access to the United States, a skilled workforce and comfortable living for executives.

VW Chief Executive Oliver Blume agreed more speed was needed and that the construction of charging stations was "a common task of the economy, federal government and communes".

The hubs in Munich, Bologna and Madrid will develop self-driving systems for JLR's next generation of luxury vehicles. JLR already has six global tech hubs the United States, China and Europe.

The plan to broaden the company's lineup and expand overseas sales comes as EV sales sharply weaken in China, the world's largest auto market, following an end in state subsidies for EV purchases.

2023 marks the second consecutive year with a member of the Hyundai Group’s design team taking home the award.

The price hikes are only for the petrol mild-hybrid models from the company’s range.

The group cited its investments in R&D especially in the battery division as a major contributor of its growth.