China’s Volvo Cars stop production citing chip shortage

China’s Geely Holding-owned Volvo Cars will temporarily stop production at its Swedish plant in Gothenburg because of a shortage of semiconductors. A global crunch of chips has hit carmakers hard, with many forced to cut down on production. Electronic device makers are also struggling to keep up with a pandemic-led demand for gaming consoles, phones,…

VW purchases 75.1% stake in Volvo’s WirelessCar platform

The forward-looking purchase of the stake is of strategic significance as it revolves around the future of mobility. In a strategic move, Volkswagen has purchased a controlling stake in Volvo’s WirelessCar, a digital service developer which specializes in connected driving, for $122 million (1.1 billion Swedish crowns). In a statement Volkswagen stated, WirelessCar’s technology would…