Porsche will divest from Bugatti Rimac and Rimac Group. It is selling its stake in both companies to a New York-based consortium. Porsche and Rimac Group established Bugatti Rimac in 2021, with Porsche taking a 45 percent stake in the new company. Porsche’s involvement with Bugatti Rimac and Rimac Group is over. The automaker …
Volkswagen Group has to cut production capacity by a million units. It will focus on reducing capacity in Europe and China. The company is facing numerous challenges, including tariffs, competition, and the war in the Middle East. In 2019, before the pandemic, Volkswagen Group was riding high. The German auto conglomerate sold …
Ineos sales are up 20% in Q1, year over year. The increase is mostly driven by fleet sales. Fleet customers include the Kenyan Red Cross, European police and fire agencies, and Hertz. Ineos sales are on the upswing after three years on the market. In its latest Q1 sales reports, the rugged truck upstart posted …