Volkswagen announced the definitive closure of production at its factory in Nanjing, China, operated in partnership with SAIC. The plant, which previously produced models such as the Passat and Skoda Superb, suspended activities after a drop in sales and will officially close in the second half of 2025. Passat production will be transferred to another company unit.
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103 Nikola hydrogen trucks go up for auction after electric vehicle startup bankruptcy
Nikola, an electric and hydrogen truck startup, declared bankruptcy in February after troubled years and scandals involving its founder, Trevor Milton, convicted of fraud.
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KTM Faces Financial Crisis with 265,000 Unsold Motorcycles and Seeks Restructuring
KTM is facing serious financial problems, with 265,000 unsold motorcycles accumulating in inventories around the world. This number was revealed during the company’s bankruptcy hearings, where the future of its restructuring plan was discussed.
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Recaro Rescued from Bankruptcy and Preparing for Relaunch in Europe in 2025
Recaro Automotive, the world’s oldest seat manufacturer, has been rescued from bankruptcy by the Proma Group, an Italian automotive parts supplier.
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Fisker declares bankruptcy after halting vehicle production and facing financial crisis
Electric vehicle manufacturer Fisker has filed for bankruptcy due to severe financial difficulties.
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