Suppliers

Dealership closures and delayed purchases by consumers during the pandemic have hit earnings at the transport company, which counts Ford, Toyota and Renault among its customers.

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.

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

The microchip shortage seemed to be easing in North America, but is now seeing a new surge.