Volkswagen AG will invest 2 billion euros in a planned battery hub in Germany as part of a decision to create a dedicated company for the carmaker’s battery business.

Daimler AG said it intends to dispose of all of its stake in Renault SA, valued at about $364 million.

Continental AG, Europe’s second-biggest supplier of car parts, warned the global bottleneck in chip supply and raw material cost inflation will drag on the auto industry through the rest of the year.

Barely three weeks ago, Daimler AG dialed back profit expectations for the year. The move was seen as a housekeeping exercise to allow CEO Ola Kallenius to start with a clean slate.

Volkswagen AG is stepping up the pace of its digital transformation with a plan to pool some 5,000 digital experts into a single unit that will develop “vw.os,” a uniform software operating system across all new models.

Volkswagen AG is seeking to create buzz months before deliveries start for its first ID. electric car, following the footsteps of Tesla Inc.’s Elon Musk, whose promotion of the Model 3 generated reservation lines around the block.

Volvo AB is exploring closer ties with Zhejiang Geely Holding Group Co. in China, in a sign the Swedish truckmaker and its largest investor are taking steps to collaborate.

Volkswagen AG has started testing five electric and highly-automated versions of its Golf compact cars on the streets of Hamburg, Germany.

Volkswagen AG canceled plans for a partial share sale in its Traton SE division, citing weak markets, a setback to the automaker’s plan to generate fresh funds for the heavy-truck unit’s expansion outside of Europe.

Ford Motor Co. said it will cut thousands of jobs, weed out slow-selling variants and potentially close entire factories in Europe, as the carmakers’s global cost-cutting drive targets a region that has been a drag on earnings for years.