Auto Industry News

Nelson Chai, CFO, Uber Inc. forecasts gross bookings of between $165 billion and $175 billion by the fiscal year 2024

LG Energy Solution aims to boost sales by about 8% in 2022. The company expects that the global chip shortage will ease this year, leading to a pick-up in demand for electric vehicle (EV) batteries.

The Japanese industrial conglomerate will build a cutting-edge 300-millimeter fabrication plant in central Japan for power management chips, which efficiently control electric power in cars, electronic devices, and industrial equipment.

Japan called for greater collaboration with Taiwan on semiconductors at a bilateral economic and trade meeting.

GM's net income dipped slightly to $2.9 billion in the quarter, compared with analysts' estimates of $2.45 billion, as higher prices were not enough to offset an increase in costs.

Stellantis CEO Carlos Tavares said that the number of troubled suppliers was now smaller and he expected further improvements next year.

The entry-level segments have declined by 25 percent in the last 4 years.

Carmaker reported a decline in net profits despite a 26 percent increase in net sales year-on-year.