Vietnam’s VinFast starts operations in North America and Europe
Vietnam’s first domestic car manufacturer, Vinfast, said on Monday it has opened offices in North America and Europe, joining a crowded field of players seeking to woo customers with smart electric cars.
Premium cars drive Volkswagen profit above pre-pandemic levels
Volkswagen’s (VOWG_p.DE) first-half operating profit is expected to reach around 11 billion euros ($13 billion), it said on Friday, topping pre-pandemic levels on strong demand in Europe and the United States, particularly for Porsches and Audis.
U.S. quarterly auto sales jump on strong SUV demand, shift to EVs
U.S. automakers on Thursday reported a sharp rise in quarterly sales on strong demand for SUVs and pointed to the trend continuing into 2022, as more people shift to private conveyance and new electric vehicles (EVs) line up for launch.
Volkswagen sees strongest first-half U.S. sales since 1973
Volkswagen of America said it sold more than 211,000 cars in the first half of 2021, its highest level for the period in nearly 50 years, and is on pace to sell more than 400,000 this year, Chief Executive and President Scott Keogh said in a media briefing on Thursday.
Ford to shut some N. American plants for few weeks on chip shortage
Ford Motor Co (F.N) said on Wednesday several of its North American factories will be shut for a few weeks in July and August due to a global shortage of semiconductors.
Chinese EV Maker Xpeng to raise $1.8 bln in Hong Kong listing
Chinese smart electric vehicle maker Xpeng Inc said it would raise $1.8 billion to expand its product line-up and develop its technology, by pricing its shares on Wednesday at HK$165 ($21.25) each in a Hong Kong dual primary listing.
Volkswagen’s Mexico unit says it will resume production that was hit by chip shortage
Volkswagen AG’s (VOWG_p.DE) Mexico unit said on Sunday it expects to restart production of three segments from next week and in July after output was curtailed by a global semiconductor chip supply crunch.
China’s EV maker Xpeng gets approval to list in Hong Kong -source
The listing committee of the Hong Kong Stock Exchange has approved Chinese electric vehicle maker Xpeng Inc (XPEV.N) for a dual primary listing in the Asian financial hub, a source with direct knowledge of the matter told Reuters.
Volvo Car partners with Northvolt to develop and produce batteries
Volvo Car Group, owned by China’s Geely Holding (GEELY.UL), announced plans on Monday for a joint venture with Swedish battery maker Northvolt to develop sustainable batteries for its electric cars and set up a gigafactory for production.
Ford sees better-than-expected quarterly profit on higher vehicle prices
Ford Motor Co (F.N) said on Thursday its second-quarter operating profit will exceed expectations due to lower costs and rising prices for new and used vehicles amid the global semiconductor chip shortage.
