In a significant move, Volvo Cars reveals plans to cut 3,000 jobs as part of an 18 billion Swedish kronor cost-saving initiative, impacting primarily office roles in Sweden. The decision comes amid uncertainties in the automotive industry, including tariff pressures and a need for improved cash flow.
In a strategic pause, Jaguar Land Rover halts U.S. shipments for a month, grappling with the fallout of President Trump's new tariffs on foreign cars. This decision reflects the uncertainty in the automotive sector as global markets react to the escalating trade tensions.
In a bold move, Canada will impose a 25% tariff on US-made vehicles in retaliation against Trump's import taxes. This decision targets non-compliant vehicles under the USMCA, impacting the automotive sector significantly.
In a surprising twist, President Trump granted a one-month exemption for auto companies from new tariffs after pressure from industry leaders. This article explores the implications of these trade moves and the ongoing dialogue with Canadian officials.
In a monumental move, BYD has raised $5.59 billion through a primary share sale, marking the largest equity offering in Hong Kong for four years. The funds will boost its R&D and international expansion efforts, with a strategic partnership on the horizon.
