Automobile

BLOOMBERG VinFast, an electric car maker backed by Vietnam’s richest man, plans to ship its second batch of EVs to North America on April 4. The company will send 900 VF 8 standard vehicles to California and 900 to Canada, VinFast Chief Executive Officer Le Thi Thu Thuy said in a statement to Bloomberg. VinFast sent 999 VF 8 City …

BLOOMBERG Genesis, the South Korean luxury sister brand to Hyundai, wants to be mentioned in the same breath as BMW and Mercedes-Benz. That’s why it’s putting so much pressure on the folks at the factory in Montgomery, Alabama, to get its newest offering, the Genesis Electrified GV70, exactly right. The $65,850 SUV is the third electric vehicle from Genesis, and …

BLOOMBERG  China Evergrande New Energy Vehicle (NEV) Group Ltd warned it may have to stop making electric cars if it can’t obtain new financing, having delivered just 900 of its much-delayed flagship model. The company said it is seeking to cut costs by reducing staff numbers and improving management efficiency. However, “in face of the inability to obtain additional liquidity, …

BLOOMBERG Mercedes-Benz Group AG suffered a setback in a dispute at the European Union’s top court over its duty to compensate owners of cars equipped with illegal computer technology that overrides anti-pollution systems in order to protect components at low temperatures. In a suit referred from a court in Germany, the owner of a Mercedes car equipped with a so-called …

BLOOMBERG Auto sales in Europe increased for a seventh straight month, aided by strong growth in the UK and Spain and improving supply chains. Registrations jumped 12% in February to 902,775 vehicles, the European Automobile Manufacturers’ Association said. Sales of battery-electric vehicles surged 34%, expanding more than any other type of powertrain. Shortages of semiconductors and other components are becoming …

BLOOMBERG Markus Duesmann, the chief executive officer (CEO) of Audi, flew to China last week to tackle a problem that’s indicative of the challenges facing Germany: how to compete with its biggest trading partner on new technology. The head of the German luxury brand went to visit Audi’s Chinese joint venture (JV) partners — China FAW Group Co. and SAIC …

BLOOMBERG Volkswagen AG unveiled an affordable electric vehicle (EV) that’s a couple years away from production, putting Europe’s largest carmaker on a collision course with Tesla Inc. The compact ID. 2all concept previews a car costing less than €25,000 ($26,400) that VW is readying for the European market in 2025. The maker of the Golf hatchback — which was knocked …

BLOOMBERG Tesla Inc. is under investigation by US regulators over complaints the steering wheel can fall off certain new Model Y vehicles while they’re in use. The National Highway Traffic Safety Administration (NSTSA) said it’s aware of two incidents in which the wheel detached from the steering column while drivers were operating the 2023 model year SUVs. The preliminary evaluation …

BLOOMBERG Nissan Motor Co. is developing new modular powertrains that will help streamline production and drive manufacturing costs for hybrid cars down by as much as 30%. By enhancing the common parts that underpin a vehicle, the Yokohama-based automaker expects to be able to lower the cost of its hybrid cars to the same level as gasoline-powered cars by 2026, …

BLOOMBERG The role of the squeaky wheel in Renault and Nissan’s alliance looks to be changing in a remarkable example of what a difference a year makes. One year ago, Renault shares hit rock bottom in a rout triggered by the invasion of Ukraine. Fitch Ratings was sounding alarm bells about the carmaker’s exposure to Russia, then its No. 2 …