Germany’s auto industry is losing hope that trade tariffs with the UK can be avoided, several executives have told Reuters, despite warnings from British Prime Minister Theresa May that an overly tough stance on post-Brexit commerce would seriously harm the country’s EU partners.
” Merkel may force us to walk away from UK profits for the sake of preventing further EU fragmentation,” said a senior executive at a German luxury carmaker when approached by media.
Volkswagen Group and Robert Bosch have agreed to pay at least $1.6 billion to fix or buy back and compensate owners of VW, Audi and Porsche cars diesel engines rigged to cheat pollution tests.
The settlement is the last major hurdle to Volkswagen moving beyond its emissions scandal, though it still faces suits from some U.S. states and investors and the deal contrasts with the lack of any compensation for UK buyers.
General Motors and Honda will collaborate on making hydrogen fuel cell systems.
Fuel Cell System Manufacturing, LLC will operate within GM’s existing battery pack manufacturing facility site in Brownstown, Michigan, south of Detroit with production of fuel cell systems is expected to begin around 2020 and create nearly 100 new jobs as the companies are making equal investments totalling $85 million in the joint venture.
Volkswagen is going to make its next generation of EVs radically different designs.
They will be taller and have shorter bonnets, longer wheelbases and more room for people as the electrical powertrains are much smaller and lighter.
The former Saab 9-3 will be the basis for a new electric car to be built in China by company owner National Electric Vehicle Sweden, which has closed the Trollhatten plant that was home to Saab.
The new plant in northeast city of Tianjin will be open before 2018 and make 200,000 EVs annually.
BMW will stick to its investment plans for Mexico and the United States despite warnings from President Donald Trump to impose border taxes on cars imported into the U.S., CEO Harald Krueger said.
BMW said last month that it plans to finish its Mexican plant and also continue investments in its Spartanburg plant in the US, its biggest in the world where it produces X3, X4, X5 and X6 models for the American and 140 other markets.
PSA Group will give their prestige DS brand separate showrooms in future.
The idea was always on the cards but a sales drop has accelerated the plans after launching the marque in 2010 and making it stand alone in Europe five years later.