Focusing on the new trends of traditional car companies, Volvo Q1 revenue fell slightly year-on-year.
On April 23, local time, Volvo reported first-quarter revenue of 93.
9 billion Swedish kronor ($8.
65 billion), down 2% from a year earlier.
however, core operating profit rose 8% year-on-year to 6.
8 billion Swedish kronor.
Retail sales rose 12 per cent year-on-year to 182687 vehicles, setting a new monthly sales record in march.
Volkswagen hopes to maintain a 15 per cent market share in China.
Volkswagen aims to maintain its market share in China at about 15 per cent by 2030, making it the largest foreign carmaker in China, according to the head of Volkswagen’s China business.
that means Volkswagen needs to sell 4 million vehicles a year in China.
Last year, Volkswagen sold 3.
07 million cars in China, and its market share in China fell to 14.
5% from 19.
3% in 2020.
GM executives’ compensation in 2023 was exposed, and GM said on April 24 that CEO Mary Bora’s compensation in 2023 fell 4% from a year earlier to $27.
8 million, compared with GM president Mark Reuss’s total compensation in 2023, which rose from $14.
3 million to just under $18 million, and chief financial officer Paul Jacobson’s compensation from $10.
2 million to $11.
1 million.
Hyundai Motor recalled 31440 vehicles in the United States.
Hyundai Motor USA is recalling a total of 31440 2022-2023 Genisys GV70, GV80, G80 and G90 vehicles, according to a document from the National Highway Traffic Safety Administration (NHTSA).
This is due to possible failure of the vehicle’s fuel pump, resulting in loss of drive power and increased risk of crash.
Dafa plans to resume car research and development this year, and the president of Toyota’s Dafa subsidiary said he planned to fully resume car research and development by the end of the year at the earliest, adding that he saw huge opportunities in South America and Africa.
Focusing on electrification, Tesla expects the cost of layoffs to exceed $350 million, and Tesla disclosed in a regulatory filing on April 24 that the company expects costs to exceed $350 million in the second quarter as a result of the massive global layoffs that began last week.
Polar Star is considering exporting cars from US factories to Europe.
Thomas Ingenlath, chief executive of Swedish electric carmaker Polaris Motors, said the company was preparing to shift production of cars planned to be sold to Europe from China to US factories in view of rising geopolitical tensions.
Volkswagen will launch an electric car brand for young people in China, while Volkswagen has launched a new electric sub-brand for young Chinese consumers: ID.
UX, which is further expanded as an all-electric ID.
Product matrix of the family in the Chinese market. ID. UX will be developed and manufactured at Volkswagen Hefei Intelligent Network Union Electric vehicle Center in Anhui Province.
Citigroup analysts raised Xiaomi’s gross profit margin forecast to 6%.
Xiaomi CEO Lei Jun said that as of April 20, Xiaomi had more than 70, 000 orders for electric SU7 cars, close to the company’s initial full-year delivery target of 100000 cars this year.
Analysts at Citi expect Xiaomi to ship 100000 cars this year, 200000 next year and 280000 in 2026, raising its gross margin forecast for its car business to 6 per cent this year, compared with a 10 per cent loss.
Tesla is close to reaching an electrode supply deal with LG New Energy.
South Korean media quoted industry insiders as saying that Tesla had ordered 6 trillion won ($4.
4 billion) worth of electrodes from LG New Energy, enough for 1.
3 million to 1.
4 million electric vehicles.
Tesla has placed an order, but the final details of the contract are still under discussion, the report said.
Mingjue India: Tesla’s entry into the Indian market is good news.
Rajeev Chaba, Honorary CEO of Mingjue Automotive India, said that there is still a lack of competition in India’s electric vehicle industry, and Tesla’s entry is good news and will level the playing field.
Focusing on intelligence, Marelli reached a partnership with Wesai.
On April 24, Marelli, a provider of mobile travel solutions, and Wesai Technologies, a vehicle lidar company, announced a partnership to integrate Marelli’s innovative headlight design with Wesai’s next-generation lidar technology.
WeRide, a self-driving technology company, signed a strategic cooperation agreement with Tencent Cloud (Beijing) Co., Ltd. on April 24, the two sides will carry out in-depth cooperation around self-driving cloud platform, light map solution and other aspects to create a leading intelligent driving solution, enabling global OEM and Tier 1 customers.
Focusing on the supply chain, Venning appoints a new CEO, and Venning, a supplier of automotive safety technology, appoints Freya senior executive Nik Endrud as the new CEO, effective immediately.
Endrud previously worked in Foggia for 13 years and served as General Manager of driving Control at Tennack.
Asahi Kasei will build an electric vehicle battery assembly factory in Canada to supply Honda.
According to Japanese media reports, Asahi Kasei plans to invest about 200 billion yen ($1.
3 billion) to build an electric vehicle battery assembly factory in Canada.
It is reported that the main purpose of the construction of the plant is to supply Honda’s new electric vehicles in Canada.
The largest airbag production base in the Asia-Pacific region of ZF was completed in Wuhan.
On April 24, ZF Automotive Safety Systems (Wuhan) Co., Ltd. held the production ceremony of moving to the new factory in Wuhan.
The company’s newly built plant covers a total area of 66000 square meters, which will not only serve as the largest airbag production base in the Asia-Pacific region, but also as one of the R & D centers for passive safety products in China.
In 2008, the United States provided a $362 million loan to the CelLink auto wiring harness factory, and the U.S. Department of Energy loan Program Office said the United States had completed its offer to CelLink Corp.
A $362 million loan to finance the company’s construction of a plant in Texas that produces electric car components to develop lighter and more efficient flexible circuit harnesses for cars and other industries.
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