Etiqueta: Germany

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German carmakers are seeing the future in a rosier light than last month, a leading economic institute says. Positive developments regarding exports to the US and China are a major factor driving the increased optimism.

Chinese battery and automotive giant BYD achieved a record profit in 2023, annual results showed Tuesday, despite fierce competition in the country as demand for electric vehicles grows.

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Mercedes-Benz on Thursday delayed its electrification goal by five years and assured investors it would keep sprucing up its combustion engine models, becoming the latest carmaker to flag a weaker-than-expected appetite for battery-powered cars.

Continental, based in Hanover, is the world's third-largest automotive supplier. The company is the latest German manufacturer to announce job cuts as the economy contends with weak growth.

For decades, Germany was the car nation. But the more electromobility develops, the more Volkswagen, Mercedes, BMW and the like seem to be outpaced by other countries' manufacturers.