Abu Dhabi-based CYVN Holdings has reached an agreement to buy McLaren Automotive, with the promise of fresh cash for the British sports car manufacturer. Bahrain’s sovereign wealth fund Mumtalakat, which took full ownership of McLaren Group (the parent company of the car firm and McLaren Racing) in April, confirmed thatContinue Reading
Volkswagen CEO Thomas Schaefer said the company still plans to close factories in Germany even though the union voted to go on strike in early December. “We have to reduce our capacities and adapt to the new reality,” Šefer told the “Welt” newspaper. Planned cost reductions will include plants forContinue Reading
As various automakers vie to create the best electric vehicles, Toyota remains hesitant about the market’s complete shift to battery-powered cars. Instead, the Japanese automotive giant is pursuing a different direction: the development of diesel hybrids. Toyota sees an opportunity to improve car efficiency by combining diesel engines with hybridContinue Reading
A jury of German and international automotive journalists chose the BMW 5 Series as the German Car of the Year 2025. The business sedan asserted itself against numerous competitors. The overall winner was selected from five winners in the class: Citroën C3 (up to 35,000 euros), BMW 5 Series (upContinue Reading
The Volkswagen Group has increased its planned investments in an announced joint venture with electric vehicle manufacturer Rivian Automotive. The companies said in a joint press release that the deal size is now up to $5.8 billion – an increase from the initial investment of up to $5 billion –Continue Reading
In a struggling automotive world, Ferrari is in good health with profits increasing, despite slightly lower deliveries. The crisis? Where? We’re not going to go back over factory closures, both at equipment suppliers and at car manufacturers. Nor over wage cuts. Nor even over the sales figures for 2024, whichContinue Reading
Challenging times are ahead for the German automotive industry. Since Volkswagen management wants to cancel bonuses for all workers and reduce wages, the question arises as to what benefits the company pays. Only 17 percent of Germany’s workforce works at Volkswagen, and elsewhere in the world, labour costs are significantlyContinue Reading
Toyota Motor Europe is marking a significant moment with the production of its 5 millionth vehicle at the Barnaston plant in Derbyshire in the United Kingdom. This achievement highlights Barnaston’s key role within Toyota’s European manufacturing network, confirming its importance to the UK automotive industry and the company’s global operations.Continue Reading
