Chief Financial Officer Craig Webster cited unfavourable market conditions, “including interest rates doubling in the last year”, as the motivating factor behind the decision.

VWCO builds more than 50 Volksbus model types for a broad range of applications designed for bus, coach and school operations.

The company has announced it is set to receive a USD 283 million cash injection after a merger with New York-based special-purpose acquisition company (SPAC), Kensington Capital Acquisition Corp.

An unnamed French customer has taken delivery of the first Type IV* hydrogen storage systems to roll off the production lines at Forvia’s new French factory in Allenjoie.

This follows on from the new partnership agreement announced in December between VW Argentina and Volkswagen Caminhões e Ônibus Ltda (VWCO).

VWCO's Volksbus school bus model is the most popular brand in Brazil for school bus models.

June saw the start of series production of Mercedes-Benz eO500U electric bus chassis on the modern Bus Chassis Production Line at the Mercedes-Benz do Brasil plant in São Bernardo do Campo (SP).

At Zaragoza, Schmitz will build ‘S.CS’ curtainsiders, ‘S.KO’ dry freight semi-trailers, and reefers for customers primarily in Spain, Portugal, France, and North Africa.

Nikola Iveco Europe will now be renamed as EVCO (Electric Vehicles Company).  

The Bandvulc Ivybridge plant in the UK mainly focuses on hot-retreading for the UK market with Bandvulc tyres being designed and manufactured in Ivybridge as well as producing Continental rebranded tyres in partnership with the Stöcken plant.

Plans by BorgWarner to spin off the Fuel Systems and Aftermarket segments were first announced in December 2022 under its “Charging Forward” strategy.

The German manufacturer has acquired modern factory equipment and a young team of technicians which will be integrated into its European production network.