The French manufacturer says it will reorganise itself into four business groups: Exterior & Lighting; Modules; C-Power; and H2-Power.

Stohner, who is managing director of Alvarez and Marsal, known for its turnaround and performance improvement work, took up the role of Chief Restructuring Officer on 15 January following “weeks” of discussions with Webasto.

Renault Truck Commercials Ltd will now operate as two distinct regions: West England & South Wales; and Greater London & South East England.

In late December 2024, Lion Electric obtained creditor protection under the Companies' Creditors Arrangement Act (CCAA) in Canada and filed for Chapter 15 bankruptcy in the United States.

The Tata Daewoo company was founded in 1995 as Daewoo Commercial Vehicle Company Ltd and was acquired by India’s Tata Motors Ltd in 2004.

Mahle also announced that it will be taking 100% control of ‘Mahle Behr GmbH & Co KG’, a 75%-owned subsidiary specialising in air conditioning and engine cooling.

The German company said it has taken the decision due to “intense cost and price pressures” from growing Asian competition.

As far as its coach products are concerned, it is “business as usual” for Belgian manufacturer Van Hool, according to Darren Dowsett, who spoke to T&BB in his capacity as managing director of VDL Bus & Coach UK at the Euro Bus Expo.

Established last year, ‘Our Next Energy Korea Ltd’ was based out of an office in Hwaseong and employed less than ten people.

By consolidating and restructuring the merged businesses, Schaeffler aims to reduce its outgoings by about EUR290m per annum by 2029.

SKF intends to divide its Industrial and Automotive business segments, allowing them to operate as separate companies.

The reason: Hino Motors concluded that it is “unlikely that the business of Shanghai Hino will grow in a sustainable manner” due mainly to growing sales of electric-powered commercial vehicles and construction machinery in China.