POSCO INTERNATIONAL recently broke ground for a new traction motor core plant in Brzeg, Poland, marking a strategic move to target the European electric vehicle (EV) market. This follows their expansion into North America with the completion of a plant in Mexico last year. Set to begin operations in the second half of 2025, the plant has an initial order for 1.03 million units from Hyundai and Kia and aims for an annual production capacity of 7.5 million units by 2030, capturing over 10% of the global market share.
Join the 23rd Trends in Automotive Logistics (TAL) conference on June 18!
"The EU has implemented a series of regulatory updates aimed at bolstering key sectors and ensuring competitiveness, including within the automotive industry, outside of EU competition law."
„The automotive industry is expected to shrink, kicking off a period of decline.“ Why is that?
Exciting news from Kumho Tire as they plan to invest over (US$750.8m) by 2027 to establish their first plant in Europe.
In a time when many automotive suppliers are struggling with rising raw material and labor costs, Toyota stands out by actively supporting their supply chain partners.
Audi is driving towards a fully electric future with the Audi Q6 e-tron and the upcoming Audi A6 e-tron in 2024. By 2027, Audi aims to have an electric vehicle in all core segments, planning to phase out combustion engines entirely by 2033.
Flex, one of the world's largest automotive suppliers, is making a significant investment in Zalaegerszeg, Hungary!
5 days until THE TIRE COLOGNE! Visit the fascinating tire world of the TIRE Experience Area on the boulevard of THE TIRE COLOGNE taking place from the 4th of June 2024, and experience the trade fair from its most active side!
Curious about the evolving landscape of electric vehicle incentives in Europe? In the dynamic realm of electric mobility, understanding tax benefits and incentives is crucial. European Automobile Manufacturers' Association (ACEA)s 2024 edition on Electric cars: Tax benefits and incentives delves deep into this, focusing on the 27 EU member states.
Ford is urging its EV suppliers to collaborate on cutting costs amidst significant losses in its electric vehicle business. The automaker’s memo emphasizes the need for shared investment and cooperation, stating, "we will all win or lose together."
The Brand Finance Automotive Industry 2024 report evaluates the brand values and strengths of major automobile and auto component companies globally.