#automotive-industry

#automotive-industry

European Union trade commissioner Maros Sefcovic on Thursday presented a joint EU-US statement outlining a framework trade deal under which some 70% of EU exports face a 15% tariff. "This is a serious, strategic deal, and we are fully behind it. A wide range of sectors, including strategic industries such as cars, pharmaceuticals, semiconductors, and lumber, stand to benefit," Sefcovic told a press conference in Brussels.

The United States Commerce Department will impose new tariffs on over 400 products, including wind turbines, mobile cranes, and automotive parts, effective immediately.

Xiaomi will begin selling its electric vehicles in Europe in 2027, marking its first overseas expansion for its successful line of EVs.

Shares of Ford Motor Company lost 3.70% over the past month despite an 18.55% increase this year and a 5.24% dividend yield.

The RSX will be the first model built on Honda's new global EV Platform, kicking off a new era of software-defined vehicles with its Asimo operating system.

Whitmer told President Trump that the economic damage from the tariffs could be severe in Michigan, a state critical to his electoral success.

Lucid Group Inc. stock has sharply declined to $2.18, marking a drop of 28%, while the S&P 500 has increased by 8%. Over five years, its market cap has plummeted nearly 80% to $6.7 billion, reflecting the struggles of small companies in the challenging U.S. electric vehicle sector, which has seen EV sales decrease by 6.3% this quarter.

SK On's research and development chief Park Kisoo expressed optimism about solid-state batteries, stating, 'When the world of solid-state batteries arrives, it will definitely be first applied in pouch-type cells in which we already have a technological edge.' He emphasized this could be a critical tool to compete against Chinese battery manufacturers.

"Scout Motors, the new SUV brand from Volkswagen Group, has raised controversy with its intention to sell cars directly, leading to lawsuits from VW and Audi dealers..."

Mercedes-Benz plans to introduce 15 all-new or updated electric vehicles within two years, set to complement already unveiled models like the CLA sedan and shooting brake.

To build what customers really want is going to be a tailwind for us, said Ford CEO Jim Farley, citing what he called a multi-billion dollar opportunity over the next couple of years.

"The good news is a hydrogen vehicle is an electric vehicle. It's just a different way of storing the energy versus a battery... refuel in 3 to 4 minutes and you're 100% full and ready to go again."

Lamborghini CEO Stephan Winkelmann indicated that the Lanzador may become a plug-in hybrid instead of a full electric vehicle. The delay to 2029 reflects wider challenges in the EV market.

General Motors' second-quarter core profit fell 32% to $3 billion due to challenging tariff policies, which sapped $1.1 billion from the results.