Opel pays $75M fine over diesel emissions, report says

Factories are running at 60 percent capacity, the head of the PFA said on French TV, adding that higher prices for raw materials, fuel and transport added to inflationary pressures on the auto industry.

The company said in March that it will invest $10 billion in a new EV division over the next ten years.

Chairman Hui Ka Yan declared startup wanted to sell one million EVs a year by 2025, a level Tesla is only expected to hit this year after 18 years of operation.

The brand wants to complete 10,000 unfinished cars during the outage, which will leave only one production line running.

The venture will produce battery cells and modules at a factory that will have an annual production capacity of 40 gigawatt-hours.

The automaker will invest $316 million to produce electric drive units for future Ford full-electric passenger and commercial vehicles sold in Europe.

As cars become increasingly software driven, customers are likely to demand more personalization and entertainment features similar to those on smartphones, Porsche says,

Chip producers were only able to meet about 20 percent of automotive orders in July and despite some improvement in August, more than half of the demand still could not be satisfied.

Indicted former Nissan Chairman Carlos Ghosn says he is stepping up the campaign to reclaim his legacy, calls Nissan "boring" and says its alliance with Renault is a "zombie."

The Tesla boss explained to VW executives why the EV upstart is more nimble than traditional automakers.