European auto industry braces for tougher CO2 emissions targets by 2030

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.

Environmental resistance, red tape and planning tweaks mean that it is unclear when the first vehicles will roll off the production line of the electric car maker's first European factory.

The flying taxi, which looks like a tiny helicopter, took off at Bourget airport near Paris and then landed vertically after a three-minute flight.

Automaker seeks manufacturing efficiencies to help meet profit targets despite rising raw material prices and chip shortages.

Franck Louis-Victor, 48, will oversee the company's autonomous vehicle and mobility services teams as well as its Ford X incubator.

Audi will end production of new internal combustion engine models by the end of 2026 and will focus on full-electric drivetrains, CEO Markus Duesmann told his top managers, German media reports said.