Europe

Robert Bosch is considering closing a plant in Munich that makes components for cars powered by internal combustion engines, local newspaper Muenchner Merkur said on Sunday. Germany’s coming transition from combustion to electric cars will lead to “considerable overcapacity and the need for adjustment,” according to a company spokeswoman cited by the newspaper. Demand for
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LONDON — The McLaren Group announced a 550 million pound ($758 million) equity investment, with much of it coming from Saudi Arabia’s Public Investment Fund (PIF) and global investment firm Ares Management. McLaren Group includes the British supercar maker as well as McLaren Racing, which competes in Formula One and IndyCar in the United States
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Aston Martin has unveiled its first plug-in hybrid model with the 937-hp Valhalla hypercar. The Valhalla is the second of three mid-engine models Aston Martin has promised as it shifts into segments long dominated by Ferrari. Deliveries of the delayed Valkyrie are planned to start September this year, with a lower-priced mid-engine supercar called Vanquish
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French President Emmanuel Macron will meet with executives and union representatives from the automobile sector on Monday to discuss the green transition, ahead of the publication of a sweeping climate-policy package by the European Union. The meeting will revolve around “what’s at stake for the sector,” Macron’s office said on Saturday. The European Commission is
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FRANKFURT — Volkswagen Group’s Porsche brand said it will form a joint venture with Croatia’s Rimac Automobili that will include VW’s Bugatti brand, confirming plans mapped out earlier this year. The venture will be called Bugatti-Rimac. Rimac will own 55 percent, with Porsche owning the rest. The new entity will be established in the fourth
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Volvo’s goal to sell 800,000 vehicles globally by 2020 was derailed by the pandemic, but the automaker’s rapid recovery over the last 12 months has put the target within reach again. “Right now we are on a run rate of 770,000,” Volvo CEO Hakan Samuelsson told Automotive News Europe. “I think we will finish 2021
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Slovakian battery startup InoBat has appointed two more former Aston Martin executives to top positions within the company, who will join the supercar maker’s ex-CEO, Andy Palmer. Paul Hancock will be chief financial officer at InoBat after leaving his position as deputy chief financial officer at Aston Martin. Hancock had worked at the British automaker
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BMW has established a second corporate venture fund, earmarking $300 million to bankroll startup companies focused on sustainability, advanced manufacturing and future transportation, the automaker said. BMW i Ventures, based in Mountain View, California, will manage the fund, as well as continuing to disburse money from its initial 500-million-euro ($593 million) fund. The two funds
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FRANKFURT — Renault and Royal Dutch Shell are among companies interested in taking a stake in electric vehicle charging group Ionity, two people familiar with the matter said. Ionity, whose owners include Volkswagen, Daimler, BMW and Ford, in March said it was examining ways to expand its network of fast-chargers across Europe, adding additional shareholders
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LONDON — Nissan is expected to confirm as soon as this week that it will build a battery gigafactory in Sunderland, northeastern England, as part of its electric vehicle strategy. “I understand Nissan will confirm as soon as this week details of its EV strategy for the UK, including the construction of a battery gigafactory
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