CHANGE IN MANAGEMENT

Pamela Fletcher, GM's VP of global innovation, is leaving to become Delta Air Line's chief sustainability officer. Fletcher was responsible for leading GM's EV transformation.

Audi China has named senior Volkswagen executive Jurgen Unser as its new president. Unser will take over for Werner Eichhorn, who is retiring.

DISASTER

GM shut down its Bowling Green, Kentucky plant after a tornado started a fire early Saturday.

EARNING DIP

Auto sales in China dropped 9.1% in November compared to November 2020. Despite the overall drop, sales of new energy vehicles grew by 121%.

EXPANDING

Magna International is expanding its Cosma Body Assembly operations in Lyon Township, Michigan, by adding up to 68 jobs at the plant. They also plan to expand the facility by 90k sf.

HUMAN CAPITAL

Stellantis is competing with tech companies for software talent in a shift to provide software services to customers.

Renault has reached an agreement with most of its unions to cut 1.7k jobs in France between 2022 and 2024.

LITIGATION

Six Tesla workers filed lawsuits alleging sexual harassment at its Fremont, California plant.

MERGERS, VENTURES, ACQUISITIONS

Foxconn has purchased Lordstown Motors' plant in Lordstown, Ohio, for $230M. The iPhone maker will help the automaker produce its Endurance pickup truck and enter into a new JV.

Volvo and Northvolt will open a joint R&D center in Gothenburg, Sweden, for a $3.3B investment. After the R&D center opens in 2022, construction will begin on a new manufacturing plant in Europe.

ZF has acquired a 5% stake in mobility software startup Apex.AI.

OPENING

GM/LG JV Ultium Cells is planning a new EV factory in Lansing, Michigan. The plant will cost up to $2.5B and employ 1,700 people.

Vietnamese automaker Vingroup has started constructing a new EV battery plant in Ha Tinh, Vietnam. The plant will produce 100k batteries per year in phase one, eventually scaling up to 1M per year in the second phase.

PRODUCTION INCREASE

Toyota will build a record 800k vehicles globally in January to compensate for lost production.

Continental's Bangalore plant will increase its production capacity by 30%. The facility produced 1M airbag control units/year after adding additional assembly lines in 2019.

Ganfeng Lithium's Ma Hong, China facility will increase its battery-grade lithium hydroxide production from 31k to 81k tons/year.

RISK ANALYTICS

Volvo experienced a cyberattack last week that resulted in the theft of a "limited amount" of their R&D property. The automaker added that "there may be an impact on the company's operation."

SHUTDOWN

Toyota has halted production at some Japanese factories due to a shortage of parts shipped from suppliers in Southeast Asia. The production halts will cut output by around 9k vehicles.

VW subsidiary Seat is extending the holiday break at its plant in Martorell, Spain, by five days due to the semiconductor shortage.

Due to ongoing component shortages, Daimler is idling its Mercedes-Benz plant in Hungary for a month. The shutdown started this week.