FRANKFURT – Daimler AG’s truck business, the world’s largest, has seen the supply of crucial chips tighten further in recent weeks, the division’s chief executive said in a Frankfurter Allgemeine Sonntagszeitung report. “Since the summer months the situation has intensified again,” Martin Daum told the weekly newspaper, adding this had affected production in Germany and the United States. Excerpts of the interview were made available on Friday, ahead of its publication on Sunday. Daum said…"Daimler Truck boss says chip supply has tightened further"
– U.S. President Joe Biden on Thursday directed his ire at the governors of Florida and Texas, accusing the Republican leaders of going to extra lengths to “undermine the life-saving requirements” he proposed on businesses intended to counter the spread of COVID-19."Biden says Republican governors are undermining COVID safety response"
WASHINGTON – General Motors Co said on Thursday it will extend a shutdown of a Michigan assembly plant to mid-October in the aftermath of a new recall of its Chevrolet Bolt electric vehicles over battery issues after 10 reported fires. The largest U.S. automaker said the extension of the production halt at its Orion Assembly plant will go through at least Oct. 15. GM also said it was cutting production at six other North American…"GM extends EV Bolt production halt to mid-October"
BRAUNSCHWEIG, Germany – Four former employees of carmaker Volkswagen went on trial on Thursday over the Dieselgate scandal in which illegal software was used to cheat emission tests. The trial, being held in the city of Braunschweig, close to Volkswagen’s headquarters in Wolfsburg, started without former CEO Martin Winterkorn, whose separate trial will take place at a later date. The four employees, who are accused of fraud, had been aware of the illegal software but…"Four former VW employees go on trial in Dieselgate lawsuit"
MADRID – Volkswagen’s Spanish unit SEAT plans to extend partial car assembly suspensions at its plants near Barcelona well into 2022 because of global semiconductor supply bottlenecks, the company said in a statement. “The deterioration in the supply of semiconductors now requires reorganizing, planning and adopting new labour protocols,” SEAT said, adding it had started negotiating a furlough plan with local unions to cancel some working shifts between Sept. 27 and June 30, 2022. The…"VW’s SEAT to extend assembly curbs in Spain into 2022 on chip shortage"
PRAGUE – Czech car maker Skoda Auto, part of the Volkswagen group, will halt production at its domestic plants for a week at the end of September due to chip shortages, its union head said in a union newsletter on Thursday. From delayed car deliveries to a supply shortfall in home appliances to costlier smartphones, businesses and consumers across the globe have been facing the brunt of an unprecedented shortage in semiconductor microchips. In the…"VW’s Skoda to stop production at Czech plants for a week due to chip shortage"
WASHINGTON – General Motors Co on Wednesday recommended that Chevrolet Bolt electric vehicle owners parking in decks do so on the top floor or on an open level, at least 50 feet away from other vehicles, citing potential fire risks. The precaution would “reduce potential damage to structures and nearby vehicles in the rare event of a potential fire,” a company spokesman said in an email. GM sent a notice to consumers who had asked…"GM tells Bolt EV owners park away from vehicles in decks"
BEIJING – One of General Motors Co’s China joint ventures said on Wednesday it is developing auto chips and aims to increase use of locally sourced chips in the next five years. Liuzhou-based SGMW, GM’s venture with partners SAIC Motor Corp and Guangxi Automobile Group, said at an industry conference that it has been developing its own auto computing chips since 2018. SGMW did not say whether it is merely designing chips or is also…"GM’s China joint venture develops own auto chips"
STOCKHOLM – China’s Geely Holding is in advanced discussions with banks to list its Volvo Cars unit in the coming weeks, three sources told , in what is expected to be one of Europe’s biggest initial public offerings (IPOs) this year. Volvo Cars is aiming for a valuation of about $20 billion in the planned Stockholm listing, the sources said, with one saying the launch was pencilled in for the end of September. Goldman Sachs…"Volvo Cars gears up for $20 billion IPO in coming weeks, sources say"
WASHINGTON – A one-year expansion of the U.S. child tax credit, a policy championed by President Joe Biden and his fellow Democrats over Republican opposition, has disproportionately benefited states that voted for former President Donald Trump in 2020, a review of Treasury Department data has found. Congressional Democrats are now seeking to extend the expansion for four additional years as part of $3.5 trillion social spending legislation opposed by Trump’s fellow Republicans. The one-year expansion…"Biden’s child tax credit pays big in Republican states, popular with voters"