Modine's German subsidiaries are specialists in the manufacture of exhaust gas recirculation coolers, radiators, and charge air cooler modules for automotives power by internal combustion.

In May 2023, Sono Motors announced that it had filed for a protective shield proceeding with the Munich Local Court when the business became insolvent.

Phillips says the restructure will encourage greater collaboration and cohesiveness across the company.

The German components manufacturer will sell the business to investment firm Admetos as part of a strategic move away from internal combustion engines.

The company will undergo a series of actions and emerge as a privately owned company, delisting from the public stock exchange in order to have a firmer financial base. Stefan Pierer, an Austrian investor and CEO of Pierer Mobility (a motorcycle manufacturer) will become Leoni’s sole shareholder.

Traton has signed a framework agreement with its parent company, Volkswagen, which outlines the terms for selling and transferring the rights to provide financial services for MAN and Volkswagen Truck & Bus to Traton Financial Services.

The Randon Group has changed its name as it transitions to being a global company with increasing focus on digital technology and financial services.

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

This moves comes on the back of a major repower bus order in the Capital and to combat competition primarily coming from Chinese OEMs.

With this growing sector of the business, the aim is to have a dedicated team serving existing customers and growing the mobility business, with projected sales revenue expected to reach EUR 80 billion by 2029.

Frasle Mobility is the name of a new business unit of Fras-le S.A. involved in development and manufacture of new composite materials for the transport industry.

Suspensys's Mexican subsidiary Suspensys Sistemas Automotivos Ltda has moved its Mexican operations to Querétaro, while Castertech opens first warehouse abroad in the same city.