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Automakers are struggling to create a smartphone on wheels because it requires a complete rethink of vehicle development, new supplier relationships and an overhaul of corporate culture.
To counter a threat from China, European automakers could work together to share development and production costs, the Renault Group CEO said at the Geneva auto show.
The Fusilier SUV will be built by Magna Steyr in Austria in the same plant as the Mercedes-Benz G-Class and slot in below the Grenadier and Quartermaster.
Polestar shares have fallen due to a slower-than-expected ramp up and overall cooling EV demand. Volvo's move will hand more responsibility to China’s Geely, which controls both companies.
Overseas suppliers also may receive payment increases at a later time. It is unclear how much extra Toyota will pay in total.
HiPhi started sales in Europe last year, with the goal of competing against Audi, BMW and Mercedes-Benz with a focus on design and technical features.
Xpeng, which has VW Group as a partner, plans to release around 30 new products or revised models within three years.
Stellantis, which has a Dutch-based joint venture with Leapmotor, could fill unused capacity at its Mirafiori plant with Chinese-developed EVs, giving the automaker a boost in the race to offer affordable electric cars to European buyers.
Japan's carmakers are tackling seven key challenges to reboot their global competitiveness as the country's auto industry comes under siege from new technologies and new rivals from China and beyond.
The sporty Fiat subbrand says the New 600e will be its most powerful model yet.
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