Seat News
The MEB Plus platform with cheaper lithium iron phosphate battery chemistry is seen as the “next big step” for EVs to achieve profit margin parity with combustion-engine cars.
Cupra still plans to enter the U.S. by 2030, CEO Wayne Griffiths said, potentially in partnership with Penske Automotive Group.
EU tariffs on Tavascan SUVs imported into Europe from China will cost VW Group's Seat/Cupra business millions of euros this year, forcing the Spanish subsidiary to lay off 1,500 workers, Seat CEO Wayne Griffiths said.
Production of the midsize SUV from the VW Group subsidiary is expected to peak in 2025.
MG, BYD and VW's Cupra say they will not increase prices on EVs they export to Europe from China even after EU countries approved punitive tariffs.
The Cupra compact SUV will be available in one gasoline version, two gasoline mild-hybrids and two plug-in hybrid versions, with the majority of sales expected to be of the plug-in hybrid version.
Cupra aims for 70,000 annual sales of the Terramar, its third compact SUV after the Ateca and Formentor.
Without Tavascan sales, Cupra would miss EU-mandated CO2 reduction targets and so face heavy fines, with a possible impact on employment at its base in Spain, the brand's CEO, Wayne Griffiths, said.
At VW's so-called core group, which consists of the VW, Skoda and Seat brands, profitability dropped to 5 percent.
VW Group’s newest mainstream brand has found success with sportier models such as the Formentor.
