Safety regulator rebuked by automaker alliance

A major trade group representing General Motors, Toyota, Volkswagen, Hyundai and other automakers sharply criticized the National Highway Traffic Safety Administration, saying the auto safety regulator is impeding progress and struggling to modernize. "Its fractured relationship with the industry, decades-old safety regulations, and lack of a clear strategic road map for emerging technologies are stifling innovation and threatening US global leadership," said Alliance for Automotive Innovation CEO John Bozzella on Thursday. Bozzella is to call for the NHTSA to conduct significant reforms and list dozens of regulatory standards that should be repealed, revised or updated. Bozzella reiterated industry calls to repeal automatic emergency braking rules and make it easier to deploy autonomous vehicles without human controls.

Joint venture agreed by Geely and Renault

Geely said it and its parent Geely Holding would take a combined 26.4 percent stake in a joint venture controlled by its French partner Renault as the two seek to produce and sell cars jointly in Brazil. The two automakers have entered an agreement that would see Renault take 73.57 percent in the venture that would focus on producing and distributing cars in Brazil under the Renault and Geely brands. It is also due to make and distribute light commercial vehicles under the Renault brand to "attract new customers", according to a filing by Geely Auto. Geely and Renault first announced their partnership to produce and sell zero — and low-emission vehicles in Brazil in February. The Brazilian partnership builds on the two companies' thermal engine joint venture headquartered in London and their jointly owned manufacturing plant in South Korea.

Long-term plans under review at Stellantis

Stellantis has begun reviewing its long-term strategic plan, new CEO Antonio Filosa told staff in his first public appearance since officially taking over as head of the world's No 4 automaker. "We have already started looking at our long-term strategic plan, which we will share when we are ready," Filosa said on Wednesday. The current plan, which was presented in March 2022 by former CEO Carlos Tavares, aimed to double net sales by the end of the decade and maintain double-digit operating margins. However, Stellantis faced major commercial and operational difficulties in the US and Europe in 2024, forcing it to abandon its annual targets, leading to Tavares' departure. The current plan also aims for 100 percent of its sales in Europe and 50 percent in the US to come from electric vehicles, with sales in new markets outside of those regions to increase to more than 25 percent of group sales.

Chipmaker closes automotive business

Intel is shuttering its automotive architecture business and laying off most of its staff as part of a broader restructuring, the chipmaker confirmed on Tuesday. "As we have said previously, we are refocusing on our core client and data center portfolio to strengthen our product offerings and meet the needs of our customers, "according to a company statement by spokesperson Cory Pforzheimer. "As part of this work, we have decided to wind down the automotive business within our client computing group. We are committed to ensuring a smooth transition for our customers." Intel made numerous multimillion-dollar investments in automotive, particularly during the heady and early days of autonomous vehicle tech that kicked off around 2015. Back then, the company's venture arm committed to invest $250 million in automotive tech.

Apologies as Nissan predicts net losses

Nissan Motor said it forecasts a net loss of 200 billion yen ($1.38 billion) for the April-June quarter on Tuesday and apologized for the worsening performance as it faced criticism from shareholders at their annual meeting. New President and CEO Ivan Espinosa, who took over from Makoto Uchida in April, vowed to return the business to profitability by fiscal 2026 after apologizing for the poor outlook, encumbered by high auto tariffs imposed by the US. He reiterated restructuring plans that include shuttering seven factories and cutting 20,000 jobs, saying that the company would release the information on which factories would be affected swiftly once decided. Nissan has been grappling with poor sales in the United States and China, logging a net loss of 670.90 billion yen for fiscal 2024, which ended at the end of March. It initially did not issue an earnings forecast for the current fiscal year.