Jaguar EVs to be priced at Bentley, Porsche levels

The automaker's comments came after it was reported that VW does not expect to be able to produce more than 800,000 vehicles this year due to semiconductor bottlenecks.

Slow sales of the ID4 X and ID4 Crozz have been blamed on a lack of smart tech features, fierce competition, a late launch compared to Tesla and Chinese EV makers as well as hiccups with VW's new EV sales network.

Alejandro Mesonero-Romanos, former head of design at VW's Spanish brand Seat and briefly head of design at Dacia, will help lead Alfa Romeo's reboot under Stellantis.

The move comes after Daimler's deal to buy lithium ion battery cells built by a Chinese-American supplier in eastern Germany hit snags.

The July event will include debuts from automakers including Lotus, Genesis, Rimac and Polestar.

The automaker has said the shortage will likely affect the production of 500,000 vehicles this year.

The automaker is seeking damages over claims that the dealership withheld customer payments for the $3M hypercar.

Varta says it will supply its V4Drive battery cell to the brand as European automakers aim to cut dependence on Asian battery suppliers as they roll out full-electric models to meet stricter emissions targets in the EU.

Makoto Uchida said the company is already seeing signs of recovery, adding that the automaker is "doing everything it can" to avoid three consecutive years of losses.

Volkmar Denning, 64, will step down as head of the supplier at the end of the year in a management shuffle that will also includes a new finance chief and and supervisory board chairman.