Northvolt CEO Peter Carlsson steps down
Carlsson will take on a role as senior adviser and remain a member of the board. Northvolt has filed for Chapter 11 bankruptcy protection in the United States.
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Stellantis delays production of Ram electric pickup trucks
The all-electric pickup was due to go on sale by the end of 2024, followed by the Ramcharger during the first quarter of 2025.
Hyundai, Kia’s Europe sales down 7.5% in October
While Hyundai’s sales fell 3.9% to 41,594 units, Kia’s dropped 11% to 41,246 units.
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Ford to cut workforce by 4,000 in Europe and UK
Of the total, 2,900 jobs would be lost in Germany, 800 in Britain and 300 in other EU countries. Ford has 28,000 employees in Europe and 174,000 worldwide.
Northvolt files for bankruptcy in setback to Europe’s EV ambitions
Swedish EV battery maker Northvolt said it has only enough cash to support operations for about a week and it had secured USD 100 million in new financing for the bankruptcy process.
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A year in highlights – Evertiq Expo 2024
2024 was a landmark year for Evertiq Expos, the one-day exhibitions hosted by Evertiq across Europe. Building on a legacy of successful events, this year's expos exceeded expectations, bringing industry professionals together to discuss trends, challenges, and innovations in the electronics sector.
SiriusXM opens Dublin technology hub, adds 200 new jobs
Audio entertainment company SiriusXM plans to hire approximately 200 employees over the next few years in Ireland, an expansion supported by the Irish government through IDA Ireland.
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Scania in talks with EV battery suppliers, CEO says
Scania wants half of its vehicle sales to come from electric trucks by 2030. Currently, they make up less than 1% of sales, with the rollout hit by production and delivery problems at Northvolt.
Vecmocon secures $10 million to advance EV tech
The Delhi-based start-up said it will use the funds to expand its presence across various market segments, including electric two-wheelers and three-wheelers, LCVs and buses.
Are Nvidia’s new AI chips facing overheating snag?
The Blackwell graphics processing units overheat when connected together in server racks designed to hold up to 72 chips, according to a report by the Information.
Battery start-up Ion secures $10 million investment
Earlier, Ion Storage Systems got a USD 1.5 million grant from Maryland Technology Development Corp, and a USD 20 million award from Department of Energy’s Advanced Research Projects Agency-Energy.
Global EV sales up 35% in October, propelled by China
Sales of EVs, including fully electric and plug-in hybrids, reached 1.72 million worldwide in October, research firm Rho Motion’s data showed, with sales in China hitting 1.2 million vehicles.
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UK’s intercity battery trial train outperforms diesel
The trial in the north of England by Hitachi Rail, Angel Trains and TransPennine Express demonstrates that powerful batteries offer significant benefits for emissions, fuel savings and air quality.
Yali Capital invests $4 million in chip design startup C2i
Yali’s strategy is centered on deep tech innovation in India, with key interests spanning chip design, robotics, smart manufacturing, genomics, aerospace, surveillance and AI.
Microelectronics hubs get $160 million in fresh DoD funding
Most of the new funding will go to the eight established Microelectronics Commons Hubs that focus on building infrastructure, supporting operations and accelerating workforce developments.
Has Trump decided to kill Biden’s $7,500 EV tax credit?
Representatives of Elon Musk’s Tesla, US’s biggest EV maker, have reportedly told a Trump transition committee that they are in favor of ending the subsidy.
Silicon wafer market to reach $18 billion by 2031
The growth in the sector is being attributed to the emergence of 5g and the increasing miniaturization of electronic devices.
Vedanta plans to invest $500 million in its display glass unit ASI
The metals and mining giant is also reportedly exploring the possibility of establishing a display semiconductor manufacturing facility in India.
US orders TSMC to halt shipments of advanced AI chips to China
The US Department of Commerce sent a letter to TSMC imposing export restrictions on sophisticated chips, of 7 nanometer or more advanced designs, destined for China, sources told Reuters.
EDF signs 20-year PPA for 250MW BESS project in Arizona
The North American arm of French state-owned power company EDF hopes to begin construction on the project, Beehive Battery Energy Storage System, next year, and expects it to enter commercial operations by 2026.
SMIC posts record revenue but warns of overcapacity
The third quarter revenue of China’s top chip foundry was up 34% from a year earlier to USD 2.17 billion. Net profit for the quarter touched USD 148.8 million, up 58.3% from last year.
Cicor acquires NEP, in talks to acquire German EMS firm
The acquisition of Nordic Engineering Partner gives Cicor a presence in Sweden, one of Europe’s leading markets for advanced electronics in healthcare tech, industrial and aerospace & defence sectors.
Kioxia plans December IPO as Samsung widens lead
Bain Capital-backed Kioxia may use a new method for listing at the Tokyo Stock Exchange to speed up its IPO, which has been delayed in the past.
Umicore pauses construction of battery materials plant in Canada
The company also said that the cost-cutting measures it had announced in July would contribute USD 43 million in savings in 2025 and impact 100 positions in Belgium.
UK orders Chinese owners to sell majority stake in Scottish chip firm
Future Technology Devices International (FTDI), a semiconductor design business based in Glasgow, was acquired by a holding company with Chinese directors three years ago.
Nissan axes 9000 jobs, cuts annual profit outlook by 70%
Japan’s third-largest automaker cut its annual operating profit forecast to USD 975 million as it grapples with falling sales in two of its biggest markets China and the United States.
Apple establishes display research labs in 4 Chinese cities
This move is being seen as a major investment in China’s display ecosystem, with contributions from leading Chinese display panel firms and equipment and material-related firms, BusinessKorea reports.
Tessolve acquires Dream Chip Technologies for $47 million
The acquisition boosts Bangalore-based Tessolve’s presence in the semiconductor space, particularly in custom chip and ASIC design.
CCI Eurolam relocates production facility to Düren
The new, state-of-the-art production facility in the Industrial Area Rurbenden in Germany's Düren is double in size, will increase production capacity by 80% and improve logistics, the company said.
Kimball reports 70% drop in Q1 profit, Tampa plant to be shut
Kimball Electronics’ net income dropped from USD 10.8 million to USD 3.2 million. The Jasper, Indiana-based company posted a Q1 revenue of USD 374.3 million.
Strategy 2028: Cicor aims to become leading electronics designer
A stronger focus on high-growth verticals and the accelerated expansion of R&D services is expected to lead to above market growth organically, the company said.
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