Toyota's China venture dismisses some factory workers as sales fall
The joint venture between Toyota and China’s state-owned Guangzhou Automobile Group (GAC) laid off the workers over the weekend and offered them compensation.
Tesla to discuss factory plan for new $24,000 car with India commerce minister
Tesla representatives are set to meet India’s commerce minister this month to discuss plans to build a factory to produce what the company has described as a new $24,000 car, a person with direct knowledge of the matter told Reuters.
Plastic Omnium reports strong first-half growth, but profits fall 4%
Plastic Omnium said revenue increased 35 percent through June, as the supplier anticipates price battles among automakers as they deal with a slowdown in EV orders, particularly in Europe. Net income fell 4 percent.
Foxconn to take 50% stake in ZF axle system unit
The deal values ZF Chassis Modules at $1.11 billion and will allow the companies to expand their ranges of internal combustion engine and electric vehicle products.
Unifor seeks a non-adversarial approach to Stellantis contract talks compared with UAW
Unifor President Lana Payne signaled that Canada’s auto union will take a different approach to this summer’s contract negotiations than the UAW in the U.S.