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☆ Infineon reports better-than-expected 2023 revenue on semiconductor demand
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

Infineon Technologies AG logo is seen during German Economy Minister Robert Habeck and Foreign Minister Annalena Baerbock's visit, in Dresden, Germany July 13, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsBERLIN, Nov 15 (Reuters) - German chip manufacturer Infineon (IFXGn.DE) reported higher-than-expected revenue for its 2023 fiscal year on Wednesday as demand for semiconductors, particularly in the electromobility and renewable energy sectors, remains unabated. Revenue was 16.31 billion euros ($17.72 billion), up 15% from the year before, slightly beating company-provided analyst expectations of 16.22 billion euros. "Structural semiconductor growth in the areas of renewable energy, electromobility – especially in China – and microcontrollers for the automotive industry remains unabated," said Chief Executive Jochen Hanebeck. The company is forecasting slightly slower revenue growth for the 2024 fiscal year of 17 billion euros, plus or minus 500 million.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Jochen Hanebeck, Miranda Murray, Linda Pasquini Organizations: Infineon, REUTERS, Rights, Revenue, Thomson Locations: Dresden, Germany, China

☆ As EV sales surge and cars get heavier, parking garages will have to change
▼ + stars: | 2023-10-03 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +6 min

Parking garages (known as multistory car parks in the U.K.) are one area where the proliferation of EVs and bigger vehicles is expected to have a major impact. In a statement, it said the reason behind the weight increase was "due to electric and hybrid batteries and the size of cars increasing." The cumulative load of these vehicles in parking garages could present some challenges in certain circumstances. "Because what we want is the public to maintain confidence in our car parks and structural engineers." The statement also said the "rise of e-mobility … helps us mitigate climate change and brings new questions, including weight and the impact on car parks."

Persons: Peter Titmuss, Chris Whapples, Whapples, you've, it's, Dana Kenedy Organizations: Getty, Engineers, CNBC, EV, European Commission, European Association for Electromobility, Istock Locations: England, London, Brussels

☆ BMW CEO says Vision Neue Klasse concept car represents the dawn of a new era of innovation
▼ + stars: | 2023-09-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBMW CEO says Vision Neue Klasse concept car represents the dawn of a new era of innovationBMW CEO Oliver Zipse discusses the launch of the German automaker’s “Vision Neue Klasse” concept car and says electromobility “will be the largest growth segment in the world for the automotive industry.”

Persons: Oliver Zipse, electromobility, ” Organizations: BMW

☆ BMW unveils Vision Neue Klasse concept car as it touts the dawn of a new EV era
▼ + stars: | 2023-09-02 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

German automaker BMW on Saturday launched a hotly anticipated electric concept car, saying the so-called "Vision Neue Klasse" represents the dawn of a new era for the company. BMW's latest design showcases a platform that will underpin the brand's next generation of electric vehicles. The first electric vehicles based on the Neue Klasse — or new class — architecture are set to enter production in 2025. That's the purpose of our show at the IAA," Zipse said. The Vision Neue Klasse is set to make its public debut in the coming days at the IAA motor show in Munich, which also serves as the headquarters of BMW.

Persons: Oliver Zipse, CNBC's Arabile, Zipse Organizations: BMW, Saturday, Neue Klasse, Neue, IAA Locations: circularity, Munich

☆ Continental considering sale of ContiTech's car division - manager magazin
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

The name of German tire maker Continental is pictured on a wheel at the IAA truck show in Hanover, September 22, 2016. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsCompanies Continental AG FollowContiTech AG FollowBERLIN, Aug 21 (Reuters) - German auto parts supplier Continental (CONG.DE) is considering the sale of the car division bundled within ContiTech, manager magazin reported on Monday, citing company sources. Supervisory board chairman Wolfgang Reitzle and the executive board around chief executive Nikolai Setzer are considering a reorganization of the corporation, the business publication added, citing the sources. As part of the reorganization, ContiTech's car division, which specializes in belts and sealing systems, will be put up for sale first, said the report. Philip Nelles, who is in charge of the ContiTech division, told Reuters in February that the company's activities in the car sector would be bundled into their own unit with a stronger focus on electromobility.

Persons: Fabian Bimmer, Wolfgang Reitzle, Nikolai Setzer, Philip Nelles, Victoria Waldersee, Miranda Murray, Rachel More Organizations: IAA, REUTERS, Continental, BERLIN, Reuters, Thomson Locations: Hanover

☆ Continental considers sell-off of ContiTech car business - manager magazin
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The name of German tire maker Continental is pictured on a wheel at the IAA truck show in Hanover, September 22, 2016. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsCompanies Continental AG FollowContiTech AG FollowBERLIN, Aug 21 (Reuters) - German auto parts supplier Continental (CONG.DE) is considering the sale of the car division currently bundled within ContiTech, manager magazin reported on Monday, citing company sources. According to manager magazin, that unit - specialised in belts and sealing systems with a turnover of more than 2 billion euros - is due to be separated from the business within two years. The highly profitable tyres business and non-automotive part of ContiTech will be retained as the future core, it said, quoting an unnamed top manager who warned of the threat of a workforce rift if the tyres business continued financing the cars business. The company said in May that ContiTech would be realigned with the aim of enhancing its impact and efficiency, without providing further details.

Persons: Fabian Bimmer, Wolfgang Reitzle, Nikolai Setzer, ContiTech, Victoria Waldersee, Miranda Murray, Rachel More, Kirsten Donovan Organizations: IAA, REUTERS, Continental, BERLIN, Thomson Locations: Hanover, Europe, Americas, Asia Pacific

☆ Infineon boosts Malaysia investment as Q3 revenue above forecast
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

For the full year, Infineon expects investments amounting to approximately 3 billion euros. The planned expansion of the Kulim fab is backed by customer commitments covering about 5 billion euros and about 1 billion euros in pre-payments, said Infineon, which said it would invest up to an additional 5 billion euros over the next five years. The company expects the expanded facility - together with its plant in Villach, Austria - to generate annual revenues of 7 billion euros. The company on Thursday confirmed its revenue outlook of around 16.2 billion euros, which it had raised in May. Infineon's third-quarter adjusted, or "segment", result was down 10% from the previous quarter at 1.067 billion euros, while its margin came in slightly lower than expected, at 26.1%.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Schwarz, Jochen Hanebeck, Ford, China's Cherry, Infineon's, Miranda Murray, Christina Amann, Friederike Heine, William Mallard Organizations: Infineon Technologies, REUTERS, Infineon, Lang, Semiconductor, SAIC, Thomson Locations: Dresden, Germany, Malaysia, BERLIN, electromobility, Villach, Austria

☆ Germany to earmark 900 mln euros in subsidies for e-car charging systems
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

[1/2] An electric vehicle (EV) fast charging station is seen in the parking lot of a Whole Foods Market in Austin, Texas, U.S., December 14, 2016. REUTERS/Mohammad Khursheed/File PhotoBERLIN, June 29 (Reuters) - Germany is to earmark up to 900 million euros ($983 million) in subsidies to expand electric vehicle charging stations for households and companies, the transport ministry said on Thursday. High prices, limited range and a lack of charging stations, especially in rural areas, are seen as the main reasons for the lag in electric vehicle sales. From next summer, an additional 400 million euros will be earmarked for companies that want to build fast charging infrastructure for commercial cars and trucks. The German government in October approved a plan to spend 6.3 billion euros over three years to rapidly scale up the number of electric vehicle charging stations across the country.

Persons: Mohammad Khursheed, Riham Alkousaa, Christian Kraemer, Friederike Heine, Jan Harvey Organizations: REUTERS, Thomson Locations: Austin , Texas, U.S, Germany, electromobility

☆ Infineon raises full-year guidance
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

BERLIN, May 4 (Reuters) - German chipmaker Infineon (IFXGn.DE) raised its full-year guidance on Thursday, citing strong demand from the electromobility, renewable energy generation and energy infrastructure sectors. Infineon now sees full-year revenues of 16.2 billion euros ($17.96 billion)- plus or minus 300 million - compared with its previous forecast for 15.5 billion and with analyst consensus for 16.1 billion. The group, whose chips are used in cars and data centres, had in February already lifted its full-year forecast on strong demand from carmakers, which are restocking inventories following a global chip glut, leading to higher prices. Shares in Infineon rose 1% in early Frankfurt trade. ($1 = 0.9021 euros)Reporting by Maria Sheahan, editing by Kirsti KnolleOur Standards: The Thomson Reuters Trust Principles.

FRANKFURT/BRUSSELS, March 25 (Reuters) - The European Union and Germany have reached a deal on the future use of combustion engines, officials said on Saturday, an issue that has been closely followed by the auto industry. The agreement will allow some combustion engines beyond 2035 and was quickly condemned by a prominent environmental group. "We have found an agreement with Germany on the future use of e-fuels in cars," Frans Timmermans, head of EU climate policy, said on Twitter. "Vehicles with internal combustion engines can still be newly registered after 2035 if they fill up exclusively with CO2-neutral fuels," he said in a post on Twitter. Sweden, which holds the EU's rotating presidency, said EU diplomats would vote on Monday to formally approve the 2035 phaseout law.

☆ Volkswagen invests in batteries, raw materials in race for affordable EV
▼ + stars: | 2023-03-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

Over two-thirds of the company's five-year investment budget announced on Tuesday is allocated to electrification and digitalisation, including up to 15 billion for batteries and raw materials. Volkswagen, Europe's top carmaker, is striving to close a gap with electric vehicle (EV) pioneer Tesla (TSLA.O) by expanding its slice of the growing market for battery-powered cars. Buzz EV car, on the day of the annual news conference of the Volkswagen Group at DRIVE.Volkswagen Group Forum, in Berlin, Germany March 14, 2023. Volkswagen met analysts' expectations in 2022 on revenues but missed the consensus estimate for earnings before interest and taxes by 3%. The most likely actual stock market candidate is battery unit PowerCo.

☆ Volkswagen to invest $193 billion over 5 years to hit EV target
▼ + stars: | 2023-03-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

[1/2] The logo of carmaker Volkswagen Commercial Vehicles is pictured at the IAA Transportation fair, which opened its doors to the public on September 20, 2022, in Hanover, Germany, September 19, 2022. The investments come as Volkswagen, Europe's top carmaker, tries to close a gap with electric vehicle (EV) pioneer Tesla (TSLA.O) by expanding its slice of the growing market for battery-powered cars. In the latest investment plan, up to 15 billion euros is ringfenced for battery plants and raw materials. VW outperforms EU rivalsThe investment decisions are targeted towards fulfilling a 10-point plan developed by Volkswagen CEO Oliver Blume after he took the helm in September. The most likely actual stock market candidate is battery unit PowerCo.

☆ Mercedes-Benz begins building battery recycling factory in southern Germany
▼ + stars: | 2023-03-03 | by ( Industry Insight | Reuters Professional | Green Is The New Black As Fashion Sector Fast-Forwards On Sustainability Trend | ) www.reuters.com time to read: +1 min

Companies Mercedes Benz Group AG FollowFRANKFURT, March 3 (Reuters) - Mercedes-Benz (MBGn.DE) laid the foundation stone for a sustainable battery recycling factory in Kuppenheim, southern Germany on Friday. The pilot plant will have an annual capacity of 2500 tonnes and will contribute to the production of more than 50,000 battery modules for new electric Mercedes-Benz vehicles. Subject to talks with the public sector, the pilot factory will be completed a few months later. The Kuppenheim plant already runs a CO2-neutral operation with solar and green electricity. "We are sending an important signal of innovative strength in Baden-Württemberg and Germany for sustainable electromobility," said Jörg Burzer, management board member of Mercedes-Benz in production and supply chain management.

☆ EVs are billed as the future. But a potential skills gap is sparking concerns about cost and safety
▼ + stars: | 2023-02-27 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +5 min

Thanks to growing concerns about emissions from road-based transportation, several big economies are gearing up for another huge change: the mass rollout of electric vehicles. There are concerns, however, that a skills gap may emerge in the near future, creating a big headache for both the automotive sector and drivers. "Aligned to Auto Trader Insight predictions, this suggests the skills gap — when there won't be enough technicians to service the electrified vehicle parc — will appear in 2029," it added. "But fundamentally, electric vehicles are totally different to internal combustion engine vehicles," he said. 'Chipping away at the skills gap'

☆ Tesla's Musk to hold call with Mexico president, factory announcement imminent -Ebrard
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Feb 17 (Reuters) - Electric vehicle maker Tesla Inc (TSLA.O) will soon confirm it has chosen Mexico as a location for a new plant, and CEO Elon Musk is planning to speak with Mexican President Andres Manuel Lopez Obrador, Mexico's top diplomat said on Friday. He declined to give a time for the phone call or the location for Tesla's Mexico investment. "It will be talked about in the call," said Ebrard, who spoke at an event with Mexican business leaders. Several potential sites have been pitched for Tesla's move to Mexico, with Lopez Obrador saying earlier this month that the states of Nuevo Leon and Hidalgo were leading the race. Reporting by Ana Isabel Martinez in Mexico City Additional reporting by Daina Beth Solomon in Mexico City Writing by Kylie Madry and Stephen Eisenhammer Editing by Brendan O'Boyle and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Auto lobby urges Spain to speed up vehicle electrification as sales lag
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

Among the challenges the country's industry faces are weaker-than-expected electric vehicle (EV) sales, an ageing car fleet - which is stymieing emission reduction and safety goals - and a still-lacking charging infrastructure for EVs, Griffiths said. In 2022, about 78,000 plug-in hybrid (PHEV) and battery electric vehicles (BEV) were sold in Spain, far below the 120,000 required to meet current emission goals. Electric vehicles account for 9.2% of total auto sales, while the European Union average is over 20%. "Europe is splitting in two, and Spain is falling further and further behind leading countries" such as Germany or Portugal, Griffiths said. Reporting by David Latona; Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Rheinmetall wins quarter-billion euro order for e-vehicle parts
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: 1 min

Jan 2 (Reuters) - Germany's Rheinmetall (RHMG.DE) has won an order worth more than a quarter billion euros in the electromobility segment, the industrial group said in a statement on Monday. Rheinmetall said it would be providing the new 900-volt generation of electrically powered vehicles with a new type of contactor to a premium German automaker. Contactors are electrically controlled switches that make it safe to turn electric vehicles on and off, said Rheinmetall. Starting in 2025, Rheinmetall will supply tens of millions of these contactors for the automaker's new vehicle platform, the company said. Reporting by Anastasiia Kozlova, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ Infineon ready to spend billions on acquisitions - CEO
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +1 min

MUNICH, Dec 28 (Reuters) - Infineon (IFXGn.DE) is ready to spend several billion euros on the right takeover target as it searches for acquisitions, Chief Executive Jochen Hanebeck said in an interview published on Wednesday. The German chip maker is constantly "on the lookout" for suitable companies, Hanebeck told Frankfurter Allgemeine Zeitung (FAZ). "I see it in the range of up to a few billion (euros)." In its fiscal year through September 2022, Infineon posted a rise in revenue by nearly 30% to 14.2 billion euros ($15.1 billion), while segment profit jumped 63% to 3.4 billion euros. It is quite conceivable that start-ups that are not sufficiently well financed, for example, would want to join a corporation, Hanebeck told FAZ.

☆ Auto lobby slams Swiss plan to curb electric cars in power crunch
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +1 min

"Our members and their official brand dealers promote electric cars with great effort, from advertising to personalsales pitches. One draft rule would curb the private use of electric vehicles unless urgently needed for work, shopping, or visiting the doctor or religious ceremonies. The proposal is putting a chill on sales of electric cars, jeopardising the sector's prospects of reaching targets for reducing carbon emissions, auto-schweiz said. A survey among its members had shown the market share of electric cars and plug-in hybrids could rise to over 50% in 2025 from just under half now, it added. The government has said it could curb non-essential use of power, such as illuminating shop windows, using mobile heaters, or lighting at night.

☆ Infineon plans 5-billion-euro Dresden site, raises targets
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 14 (Reuters) - Infineon (IFXGn.DE) is planning a new 5-billion-euro factory in the eastern German city of Dresden to expand its 300-millimetre production capacities, the German chipmaker said on Monday, while also raising its long-term financial targets. The plant, subject to adequate public funding, could go into operation in autumn 2026 and create up to 1,000 jobs, added Infineon. The company also raised its future target operating model and now expects its average rate of revenue growth to be more than 10%, up from a previous 9%. The German chipmaker saw growth driven in particular by electromobility, autonomous driving, renewable energies, data centres and the internet of things, it said. The segment result margin is also expected to reach an average level of 25% versus 19% to date.

The plan envisages a 14-fold increase in the number of charging stations, climbing to 1 million by 2030 from around 70,000 now. It also aims to have 15 million electric vehicles on German roads by 2030 from around 1.5 million now. Other measures in the government's plan include speeding up state approvals to build charging points. The electric vehicle push comes against a backdrop of surging electricity prices, resulting from an energy crisis fuelled by Russia's invasion of Ukraine. The electric vehicle plan drew a mixed reaction from industry associations, which have long complained that the government has not kept pace with the rapid expansion of electric vehicles.

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