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Auto supplier Forvia posts organic sales growth for Q1 on strong N.America – ET Auto

Baua Electric

European automotive supplier Forvia reported higher organic sales for the first-quarter on Thursday driven by strong North America, and said new awards from Chinese carmakers had boosted quarterly orders. The group, born from Faurecia’s takeover of Hella in 2022, reported sales of 6.53 billion euros (USD 6.98 That was down 1.7%

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China’s Chery to set up shop in Europe

Baua Electric

Chinese automaker Chery is planning to make cars in Spain, where the EV market is at just 12%, half that of Portugal and France. This would be Chery’s first manufacturing site in Europe. Given the slow uptake of electric vehicles in Spain, Chery says it plans to make combustion engine, hybrid, and electric vehicles there.

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Chery's NEV unit cuts vehicle prices by up to 10%

CN EV Post

In January-February, Chery's NEV sales were 13,293 units, down 57.6 Image credit: Chery New Energy) Chinese auto giant Chery's new energy vehicle (NEV) division has slashed the prices of several models, becoming the latest car company to do so. For Chery, its performance at the beginning of the year was weak.

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STMicro sees Q1 sales well below estimates as auto chip demand softens – ET Auto

Baua Electric

We continued to see stable end-demand in Automotive, no significant increase in Personal Electronics, and further deterioration in Industrial,” CEO Jean-Marc Chery said. . “In Q4, our customer order bookings decreased compared to Q3. Orders from the automotive industry have been helping chipmakers offset the impact of U.S.-China

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Huawei’s smart car tech offers automakers route to China sales – ET Auto

Baua Electric

It’s taken Huawei just four years to become a force in smart car technology , navigating the devastation of trade sanctions on its smartphones business while simultaneously developing a driver assistance system that is the darling of the Beijing auto show.

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Huawei says upcoming Luxeed S7 EV is ‘superior to Tesla’s Model S’

Teslarati

Smartphone maker Huawei has partnered with the China-owned Chery Automobile on the electric vehicle (EV) brand Luxeed, set to unveil its first vehicle in the coming months. These features have generally been well-received by Chinese consumers in the middle class, and the Chery-Huawei partnership could be poised for success, some analysts say.

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STMicro cuts FY revenue outlook as softer car demand weighs – ET Auto

Baua Electric

Weakness in auto and industrial demand have been weighing on the sector, while investors remain cautious amid high interest rates, with escalating tensions in the Middle East increasing fears. million expected by analysts in an LSEG poll. .

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