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Mitsubishi Rayon acquires majority of carbon fiber reinforced plastics company Wethje; targeting auto industry

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(MRC) recently executed a share sales and purchase agreement by which it will acquire 51% of Wethje Holding GmbH , a German company engaged in manufacturing of carbon fiber reinforced plastics (CFRP) parts for automobile applications, from Wethje parent Cross Industries AG.

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EC rolls out CARS 2020 action plan for European auto industry

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Antonio Tajani, Vice President of the European Commission in charge of Industry and Entrepreneurship, introduced the EC’s CARS 2020 Action Plan aimed at reinforcing the European automotive industry’s competitiveness and sustainability heading towards 2020. social impacts of restructuring. of around 16% of GDP to as much as 20% by 2020.

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UK auto industry warns anti-diesel agenda and slow uptake of EVs could mean missing 2021 CO2 targets; rising CO2 average in 2017

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The UK automotive industry warned that the current anti-diesel agenda combined with the ongoing slow take-up of electric vehicles could mean industry misses its next round of CO 2 targets in 2021, with negative consequences for the UK’s own climate change goals. to a new low of 165.4 of the UK’s 2.5

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ICCT report finds US domestic EV production and investment continues to fall; only 5% of global EV investment to go to US EV assembly plants

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The United States is the third-largest electric vehicle (EV) producer behind China and Europe; a new study from the International Council on Clean Transportation (ICCT) finds that the gap has widened. Automakers based in China and Europe have made more substantial commitments to EVs. million over the same period.

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Hyundai Motor Group bolsters partnership with Rimac on high-performance EVs and fuel cell prototypes across brands

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Hyundai Group joined its partner Rimac Automobili in an event hosted by Rimac CEO Mate Rimac and attended by Croatian Prime Minister, ministers, and senior government officials to discuss the potential of the new auto industry in Croatia. Global automotive producers have shifted production towards CEE countries from Western Europe.

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Rheinmetall wins another new order for engine blocks; “last man standing” strategy in ICE sector pays off

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Rheinmetall has won a new order in the internal combustion engine sector, a result the company says indicates its “last man standing” strategy. Castings business unit Rheinmetall AG’s division Materials and Trade consists of two large companies: KS HUAYU AluTech GmbH in Europe and HASCO KSPG Nonferrous Components (Shanghai) Co.,

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AlixPartners study finds post-crisis auto industry facing new set of challenges; sales projected below historical levels for foreseeable future

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Specifically, the firm estimates US auto sales will reach just 12.7 AlixPartners also estimates that on-going unemployment and underemployment could cost the auto industry up to 1.5 million units in 2011 and only 13.6 million in 2012. million units in lost vehicle sales this year. Preventing that erosion will be key.