Europe

FRANKFURT — Shareholders in Volkswagen, Europe’s largest carmaker, on Thursday approved a deal to settle claims against four former executives, including longtime CEO Martin Winterkorn, related to the company’s emissions scandal. The initial deal, which was announced last month and which will see Volkswagen receive 288 million euros ($339 million) in compensation, required shareholder approval
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MILAN — Italian supplier Brembo said it will open its first high tech lab in California’s Silicon Valley to accelerate the company’s digitization, one of the key objectives of a plan announced in September. Brembo’s ‘Inspiration Lab’ will focus on strengthening the company’s expertise in software development, data science and artificial intelligence, the premium brake
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Robert Bosch is considering closing a plant in Munich that makes components for cars powered by internal combustion engines, local newspaper Muenchner Merkur said on Sunday. Germany’s coming transition from combustion to electric cars will lead to “considerable overcapacity and the need for adjustment,” according to a company spokeswoman cited by the newspaper. Demand for
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Land Rover has launched a long-wheelbase variant of its Range Rover Evoque compact SUV in China. The Rover Range Rover Evoque L increases rear legroom by 125 mm (4.9 inches) and offers an electrically adjustable rear seat back to allow passengers to stretch out further, according to the brand’s consumer website. Long-wheelbase versions of global
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LONDON — The McLaren Group announced a 550 million pound ($758 million) equity investment, with much of it coming from Saudi Arabia’s Public Investment Fund (PIF) and global investment firm Ares Management. McLaren Group includes the British supercar maker as well as McLaren Racing, which competes in Formula One and IndyCar in the United States
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Aston Martin has unveiled its first plug-in hybrid model with the 937-hp Valhalla hypercar. The Valhalla is the second of three mid-engine models Aston Martin has promised as it shifts into segments long dominated by Ferrari. Deliveries of the delayed Valkyrie are planned to start September this year, with a lower-priced mid-engine supercar called Vanquish
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Opel is moving the new-generation Astra compact upscale with two levels of plug-in hybrid power, an all-digital dashboard and improved driver-assistance systems. The Astra has moved to a Stellantis platform, the third-generation EMP2 architecture for compact and midsize vehicles, from a General Motors one.  Production for Opel and Vauxhall versions starts this autumn at Opel’s
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MADRID — Spain will invest 4.3 billion euros ($5.11 billion) to support the production of electric vehicles and batteries as part of a major national spending program financed mostly by European Union recovery funds. The plan, which aims to spur private investment, would include the whole production chain from extracting lithium to assembling battery cells
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French President Emmanuel Macron will meet with executives and union representatives from the automobile sector on Monday to discuss the green transition, ahead of the publication of a sweeping climate-policy package by the European Union. The meeting will revolve around “what’s at stake for the sector,” Macron’s office said on Saturday. The European Commission is
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Mercedes-Benz owner Daimler is stepping up the pace of its transition to electric mobility and plans to largely eliminate internal combustion engines before the end of the decade. “We are switching from EV first to EV only,” a high ranking executive familar with the plan told Automobilwoche, a sister publication of Automotive News Europe. This means
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