BYD Co. has started the final quarter of the year with impressive sales figures, achieving a record for monthly sales. This strong performance comes as auto purchases in China usually peak during this time of year.
Maruti Suzuki India Ltd. has reported a lower-than-expected profit, citing weak demand for cars in India, which is the world’s most populous country. As a result, shares of the company fell by 3.8%.
Volkswagen is planning to close at least three factories and lay off thousands of workers as part of a restructuring effort to tackle declining sales and profits, especially in the electric vehicle sector. Additionally, the company will reduce wages by 10% for tens of thousands of employees. Bloomberg's David Welch discusses this developing crisis for Volkswagen on "Bloomberg Markets."
Volkswagen AG's truckmaking brand, Scania, has announced plans to equip all its future electric trucks with batteries from Northvolt. This move signals a vote of confidence for the Swedish battery maker, which is currently seeking a rescue package amid financial struggles. Scania's commitment could help bolster Northvolt's position in the competitive electric vehicle market.
