Articles from ‘Independent News Roundup’ in ‘Automotive’

Volkswagen, the company that became a symbol of Germany’s economic miracle, is now considering up to 100,000 job cuts and the closure of four factories. This could become one of the largest industrial restructurings in modern European history. Lena Petrova · What is happening to Germany’s economy? Rising energy costs, the loss of cheap Russian gas, growing competition from Chinese EV manufacturers, and the expensive transition to electric…

Japanese auto giant Honda has posted its first operating loss since 1957, citing weakening electric vehicle (EV) demand, US trade measures, and mounting competition from China. On Thursday, the automaker reported a net loss of 424 billion yen ($2.7 billion) for the fiscal year that ended on March 31, largely due to a massive write-down linked to its EV business. · Honda said the downturn was exacerbated by changes in US policy under President…

Ford Motor Company has filed a new patent application for an advanced biometric identification system aimed at enhancing vehicle security and supporting law enforcement operations. Filed on September 27, 2023 and published near the end of last month, the patent describes a multi-modal system capable of collecting and analyzing biometric data from individuals near or inside a vehicle, with the goal of identifying potential threats in real time. U…

The automaker’s operating profits plunged nearly 93% after scrapping an all-electric vehicle program · © Getty Images / Sjoerd van der Wal / Contributor · [RT] German luxury carmaker Porsche AG has reported a sharp drop in operating profits following a costly pivot away from its long-term EV strategy amid mounting challenges facing the EU’s auto sector. · The automaker booked extraordinary expenses totaling about €3.9…

David Lindfield · Major U.S. and European automakers are sharply scaling back electric vehicle (EV) ambitions as consumer demand collapses, reversing once-aggressive roadmaps toward full electrification. · The latest company to pull the plug is Lamborghini. · Lamborghini CEO Pulls Plug on EV Supercars · Lamborghini CEO Stephan Winkelmann told the UK’s The Sunday Times that the company has ended plans to build fully electric vehicles. ·…