Auto Industry News

Honda will target annual sales of around 2,000 units of the new system in the middle of this decade, the company said on Thursday, aiming to boost that to 60,000 units per year in 2030.

Layoffs at Rivian come amid falling EV prices kicked off by cuts made recently by Elon Musk-led Tesla and Ford Motor Co.

SK On - whose parent SK Innovation Co Ltd counts Hyundai Motor Co, Volkswagen AG and Ford among its customers - announced the joint venture to make electric vehicle (EV) battery cells in Turkey last year.

Hertz did not give details on why it has added fewer Tesla's than it originally planned to order.

Lopez Obrador referred to both states as a possibility when asked about the firm's plans, which Tesla has not yet commented on, during a regular news conference.

MRF's total expenses rose 14% to 53.81 billion rupees, nearly half of the increase in the first six months of the current fiscal year.

BorgWarner in December announced plans to spin-off its fuel systems and aftermarket units to focus solely on air management and e-propulsion & drivetrain units.

The battle has made it much more difficult for money-losing U.S. startups such as Rivian Automotive Inc and Lucid to grab market share at a time when high borrowing costs and inflation have pinched consumer wallets.