Short Torque

Tesla to cut Model 3 production in the US

Electric vehicle maker Tesla plans to slash production of the Model 3 sedan for two weeks, sources told Reuters on Thursday. It comes at a time when demand is slowing for Tesla cars and the market faces a chip shortage. They were not aware of the cause of the production slowdown but one person said a chip shortage may have influenced the production cutback, which would last until March 7. Tesla said last month that it might face temporary effects from a global semiconductor shortage and logistics disruption at ports.

Stellantis holds talks on UK car plant future

Stellantis, the newly-formed European carmaker, said on Thursday that ongoing talks with the British government over the future of a Vauxhall plant in northern England were "productive but not conclusive". A spokesman for Stellantis－a merger of France's PSA and US-Italian rival Fiat Chrysler－said the company expects "an eventual binding commitment by the UK government" regarding the future of the Ellesmere Port facility.

Geely, Volvo combine powertrain operations

Volvo Cars and Geely Automobile Holdings announced recently wide-ranging collaborations and the combination of their powertrain businesses. Retaining independent corporate structures, the two auto companies plan to combine their powertrain operations into one new company focused on next-generation hybrid systems and internal combustion engines, said a joint statement issued late Wednesday. The new company, expected to become operational this year, will supply to both companies and other automobile manufacturers.

Foxconn, Fisker to team up on EV project

Electric vehicle maker Fisker said it will work with Apple supplier Foxconn to produce more than 250,000 vehicles a year from late 2023. The deal, codenamed "Project PEAR" (Personal Electric Automotive Revolution), is looking at markets globally including North America, Europe, China and India, Fisker said. Foxconn, Apple's main iPhone maker, has ramped up its interest in electric vehicles over the past year or so, announcing deals with Chinese electric vehicle maker Byton and automaker Zhejiang Geely Holding Group.

Goodyear gets its grips on Cooper

Two of the biggest-remaining US tire companies are joining forces. Goodyear Tire & Rubber is acquiring Cooper in a deal with an equity value of $2.8 billion. It will combine the two century-old Ohio manufacturers. Cooper, founded in 1914, is the fifth-largest tire maker in North America based on revenue. The company has about 10,000 employees in 15 countries. In addition to the Cooper brand, it also owns Mastercraft, Roadmaster and Mickey Thompson.

Honda new chief to put priority on EVs

Toshihiro Mibe, a research expert set to be the president of Japanese automaker Honda, has promised to steer the company toward new growth by focusing on ecological models and safety technology. Honda said Mibe will replace Takahiro Hachigo from April 1, but it is subject to shareholders' approval at a meeting in June. Mibe stressed the automaker will be aggressive about developing and selling electric vehicles.

Motoring - Agencies