French auto giant navigating restructuring and design consolidation
Slate Auto has unveiled a bare‑bones, two‑seat electric pickup starting at $24,950 and a two‑row SUV conversion from $29,950. Preorders have opened with $300 deposits; the base truck uses a 63 kWh LFP battery, rear‑wheel drive, about 205 miles EPA range, and production is scheduled to begin in late 2026.
Chinese automakers have doubled electric-vehicle exports and are shifting production and R&D toward Europe as domestic demand cools. BYD has announced European assembly in Hungary and plans more local production; Xpeng says it will compete on quality rather than price. European OEMs are pivoting into defence contracts while Rivian has cut under 2% of staff as it begins R2 deliveries.
Germany has agreed with France to take a large stake in Franco‑German defence group KNDS and to set joint governance, clearing the way for a potential IPO. Berlin has said it intends to buy roughly 40% from family shareholders to secure long‑term influence over a firm that supplies tanks and armoured vehicles and supports European rearmament.
Octopus Energy and CATL will build a European battery-swapping hub network for trucks, launching in the UK next year and expanding to 30+ sites across Europe by 2035. The system enables quick battery swaps rather than long charges, aiming to accelerate electrification of freight with potential early adoption by Chinese OEMs.
European shares drift and U.S. futures tick higher as investors weigh mixed signals from U.S.-Iran negotiations, with oil prices fluctuating and defense names gaining on European strength.