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OICA'S TOP 5 NEWS
Francois Roudier
February 9, 2026
Stellantis Books €22 Billion Write-Down on EV Reset, Cancels Dividend
Automotive News Europe – ANE Staff – February 6, 2026
Stellantis took €22bn in charges after scaling back EV ambitions, canceling its dividend and posting heavy losses. The group is delaying EV programs, reviving combustion and hybrids, and issuing debt to stabilize finances amid weak European demand.
https://www.autonews.com/manufacturing/automakers/ane-stellantis-22-billion-writedown-0206/
Stellantis-Backed ACC Drops Plans for Italian, German Gigafactories, Union Says
Reuters – Rome – February 7, 2026
Battery venture ACC, backed by Stellantis, has abandoned gigafactory projects in Italy and Germany due to weaker EV demand. Production will be concentrated in France, highlighting Europe’s difficulties in building an independent battery industry.
https://www.reuters.com/business/stellantis-backed-acc-drops-plans-italian-german-gigafactories-union-says-2026-02-07/
Canada Eyes Joint Venture to Build Chinese EVs for Global Export
Bloomberg – Brian Platt – February 6, 2026
Canada is courting Chinese automakers for EV joint ventures to produce vehicles domestically for export. The shift aims to reduce U.S. dependence, protect jobs and leverage Canadian suppliers, amid a broader trade reset with China and pressure from U.S. tariffs.
https://www.bloomberg.com/news/articles/2026-02-06/canada-eyes-joint-venture-to-build-chinese-evs-for-global-export?srnd=phx-industries-transportation
Why General Motors Is Making a ‘Risky’ Bet on an Unproven Battery Technology
Financial Times – Christian Davies – February 9, 2026
General Motors is betting on lithium manganese-rich batteries to cut EV costs and revive demand. The technology promises better performance than LFP but remains unproven, as U.S. EV adoption slows and policy support weakens.
https://www.ft.com/content/178c1115-05ab-45ef-b18f-7dc3869db3ff
From Pilot to Scale: How WeRide, Uber Plan to Make Robotaxis Work in the Middle East
Gasgoo – February 6, 2026
WeRide and Uber plan to deploy 1,200 Robotaxis across Gulf cities by 2027. Strong regulation and government backing are turning the Middle East into a global launchpad for commercial autonomous mobility.
https://autonews.gasgoo.com/articles/news/from-pilot-to-scale-how-weride-uber-plan-to-make-robotaxis-work-in-the-middle-east-2019781786165309440
Francois Roudier
February 6, 2026
Toyota Names CFO Kenta Kon as New CEO in Surprise Move
Nikkei – Yuichi Shiga – February 6, 2026
Toyota Motor appoints CFO Kenta Kon as CEO from April, shifting Koji Sato to vice chairman. The move prioritizes profitability and execution as Toyota lifts profit forecasts, maintains strong hybrid-led sales, and extends its global sales lead over Volkswagen.
https://asia.nikkei.com/business/companies/toyota-names-cfo-kenta-kon-as-new-ceo-in-surprise-move
Internal Combustion Engines to Be Phased Out by 2030? Defense Against EU Plans
Automobilwoche – Hans Evert – February 5, 2026
Germany’s auto sector warns EU fleet quotas could trigger a de facto combustion-engine ban by 2030. Carmakers and rental firms argue proposed zero-emission targets for corporate fleets are unrealistic, risk higher costs, and outpace infrastructure readiness despite softened 2035 rules.
https://www.automobilwoche.de/autohersteller/amw-verbrenner-aus-schon-2030-abwehrfront-gegen-eu-plaene/
Tata Motors Passenger Vehicles Posts $386 Million Loss on Jaguar Land Rover Shutdown
Bloomberg – Alisha Sachdev – February 5, 2026
Tata Motors reported a quarterly loss after a cyberattack shut Jaguar Land Rover plants for weeks, slashing deliveries. While production has normalized, weaker China demand, U.S. tariffs and model transitions complicate recovery despite resilience in India.
https://www.bloomberg.com/news/articles/2026-02-05/jaguar-land-rover-parent-post-a-loss-as-cyberattack-pain-lingers?srnd=phx-industries-transportation
Volvo Cars Tumbles as Tough Global Market Pressures Quarterly Profits
Reuters – Alessandro Parodi – February 5, 2026
Volvo Cars saw Q4 operating profit plunge 68% amid tariffs, weak demand and discounting. Shares fell sharply as margins compressed. Management is cutting costs, slowing investment and betting on new EV launches to stabilize performance.
https://www.reuters.com/world/china/volvo-cars-q4-adjusted-operating-profit-falls-2026-02-05/
BYD’s $60 Billion Wipeout Points to Deeper Turmoil for China EVs
Bloomberg – Charlotte Yang – February 6, 2026
BYD shares have shed over $60bn as demand weakens and costs surge. Falling deliveries, rising lithium and chip prices, and heavy discounting squeeze margins, raising earnings risks across China’s EV sector despite export and AI prospects.
https://www.bloomberg.com/news/articles/2026-02-05/byd-s-60-billion-wipeout-points-to-deeper-turmoil-for-china-evs?srnd=phx-industries-transportation
Francois Roudier
February 5, 2026
Volkswagen and Stellantis CEOs Call for a “Strong and Resilient” European Automotive Industry
Les Echos – Oliver Blume, Antonio Filosa – February 5, 2026
Volkswagen and Stellantis urge the EU to defend automotive sovereignty through a “Made in Europe” approach, linking incentives and CO₂ rules to local production. They warn that unchecked imports and fragile supply chains risk deindustrialization of a sector vital to Europe’s economy.
https://www.lesechos.fr/idees-debats/cercle/pour-un-bonus-made-in-europe-le-plaidoyer-des-patrons-de-volkswagen-et-de-stellantis-en-faveur-dune-industrie-automobile-europeenne-forte-et-resiliente-2214015
JLR Parent to Start Assembling Evoque in Its New India Plant
Bloomberg – Alisha Sachdev – February 5, 2026
Tata Motors will begin assembling the Range Rover Evoque in a new Tamil Nadu plant, deepening localization as India’s luxury market grows. The site supports future exports and EVs, offsetting pressures in China and the U.S. while strengthening JLR’s Indian footprint.
https://www.bloomberg.com/news/articles/2026-02-05/jlr-parent-to-start-assembling-evoque-in-its-new-india-plant?srnd=phx-industries-transportation
BYD Shifts to Local Parts in Brazil Factory in Bid for Market Leadership
Reuters – Luciana Novaes Magalhaes – February 5, 2026
BYD plans to localize 50% of components at its Brazil plant by 2027, building a domestic supply chain to cut costs, enable Mercosur exports and ease political concerns. The $1.1bn investment targets 300,000 vehicles annually and market leadership by 2030.
https://www.reuters.com/sustainability/sustainable-finance-reporting/byd-shifts-local-parts-brazil-factory-bid-market-leadership-2026-02-05/
Canada to Scrap Electric Vehicle Rules in Win for Automakers
Bloomberg – Brian Platt, Nojoud Al Mallees – February 5, 2026
Canada will replace EV sales mandates with fuel-efficiency standards, easing pressure on automakers hit by U.S. tariffs. The strategy favors domestic production, revives EV incentives and opens the door to Asian and Chinese players assembling vehicles locally.
https://www.bloomberg.com/news/articles/2026-02-05/canada-to-scrap-electric-vehicle-rules-in-win-for-automakers?srnd=phx-industries-transportation
Digital Rearview Mirror Market Gains Momentum as Foryou’s OEM Installations Surge Nearly 400% YoY
Gasgoo – Yara – February 4, 2026
Digital rearview mirrors are rapidly mainstreaming in China, surpassing one million installations in 2025. Falling costs, new regulations and smart-cockpit demand drive adoption, with suppliers like Foryou benefiting as competition shifts toward integrated, software-rich systems.
https://autonews.gasgoo.com/articles/icv/digital-rearview-mirror-market-gains-momentum-as-foryous-oem-installations-surge-nearly-400-yoy-2018725108946673665
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