VW brand will accelerate electric vehicle shift

Canadian billionaire Lawrence Stroll said success in Formula One will help the automaker sell more road cars.

Brembo said it was confident about 2021 despite the ongoing uncertainty due the pandemic, citing its order backlog at the start of the year and its production plants running at full capacity.

Company shareholders will decide on the distribution of the 39 percent stake and the $368 million raised from a previous equity sale in the supplier.

The brand would consider joining the racing series if future engine regulations promote sustainable fuels, the BBC reported.

Car showrooms have been forced to close their doors to the public during coronavirus lockdown measures, although many dealers have tried to use online services to continue operations.

Hyundai has revised quarterly earnings despite reports that LG Chem will pay most of the estimated $900 million costs for the recall.

Investment in Vauxhall's Ellesmere Port factory does not make industrial sense because Stellantis has enough capacity elsewhere, CEO Carlos Tavares told a French newspaper.

The deep dive into the ID3 found the platform underpinning VW's EV models will be fully cost competitive with Tesla and boast best-in-class energy density and efficiency.

Demand was hit by the end of Spain's scrapping program, a rise in registration tax and the continuing effects of the coronavirus pandemic measures.

Despite the drop, Tesla, Land Rover and Mini all saw gains, while Dacia, Ford and Kia were among automakers whose sales fell.