FILE PHOTO: The President and CEO of Ford Motor Company Jim Hackett, poses with Volkswagen CEO Herbert Diess at the North American International Auto Show in Detroit, Michigan, U.S., January 14, 2019. REUTERS/Ben Klayman/File Photo BERLIN (Reuters) – Volkswagen on Wednesday praised its cooperation with Ford and took pains to highlight its rival’s autonomous vehicles… Continue reading VW praises Ford’s autonomous tech as partnership talks continue
Author: Ritters US Newsfeed
UPDATE 1-Ford’s China JV ends some contracts with job agencies as sales fall
* JV did not renew contracts with some job agencies -Ford * China’s 2018 auto sales fell for first time in 2 decades * Ford’s China sales fell 36.9 percent last year (Updates with statement from Ford, background on China’s auto market) BEIJING, Feb 27 (Reuters) – Ford Motor Co’s joint venture with China Changan… Continue reading UPDATE 1-Ford’s China JV ends some contracts with job agencies as sales fall
UPDATE 1-Volvo’s Polestar joins electric car race with rival to Tesla 3
STOCKHOLM (Reuters) – Volvo Cars’ luxury performance brand Polestar unveiled its first fully electric sedan on Wednesday, opening up online pre-orders for the five-seater fastback at a price and with a driving range to rival Tesla’s mass market Model 3. A Polestar 2 electric car is seen in Stockholm, Sweden in this undated photo obtained… Continue reading UPDATE 1-Volvo’s Polestar joins electric car race with rival to Tesla 3
Volkswagen deepens cloud computing partnership with Microsoft
FRANKFURT, Feb 27 (Reuters) – Volkswagen said on Wednesday it had struck a deal with Microsoft to cooperate on cloud computing in China and the United States, as part of its drive to offer connected vehicle services across the globe. By allowing vehicles to tap Microsoft’s remote computer processors via the so-called cloud, Volkswagen can… Continue reading Volkswagen deepens cloud computing partnership with Microsoft
Hyundai Motor says to lift auto operating margin to 7 percent by 2022
The logo of Hyundai Motor is seen during the 2017 Seoul Motor Show in Goyang, South Korea, March 31, 2017. REUTERS/Kim Hong-Ji SEOUL (Reuters) – Hyundai Motor Co said on Wednesday it plans to boost the core automotive businesses’ operating profit margin to 7 percent by 2022, compared with 2.1 percent in 2018, as part… Continue reading Hyundai Motor says to lift auto operating margin to 7 percent by 2022
Brazil’s CAOA in talks to buy Ford factory: source
FILE PHOTO: Ford’s oldest Brazil plant is seen after the company announced its closure, in Sao Bernardo do Campo, Brazil February 20, 2019. REUTERS/Amanda Perobelli SAO PAULO (Reuters) – Brazilian automaker CAOA, which produces vehicles with Korea’s Hyundai Motor Co and China’s Chery Automobile Co, is in talks to buy a Ford Motor Co plant… Continue reading Brazil’s CAOA in talks to buy Ford factory: source
UPDATE 2-UAW sues GM over decision to end production at U.S. plants
(Reuters) – The United Auto Workers union on Tuesday filed suit against General Motors Co over its decision to end production and eliminate thousands of jobs at three U.S. auto plants, saying it violated a 2015 collective bargaining agreement. New vehicles sit in a parking lot at the General Motors Lordstown Complex, assembly plant in… Continue reading UPDATE 2-UAW sues GM over decision to end production at U.S. plants
PSA Group may start production of Opel cars in Russia
FILE PHOTO: The logo of a German car manufacturer Opel is seen at a branch in Herisau, Switzerland October 16, 2018. REUTERS/Arnd Wiegmann/File Photo (Reuters) – French carmaker PSA Group may begin assembling Opel cars at its Russian plant in Kaluga, the company said on Tuesday, as it reintroduces the brand to the country. As… Continue reading PSA Group may start production of Opel cars in Russia
Hyundai set for Elliott showdown as it rejects $6.3 billion payout call
SEOUL (Reuters) – Hyundai Motor Group on Tuesday rejected demands by U.S. activist investor Elliott Management for a combined 7 trillion won ($6.3 billion) dividend payout and new board members, complicating efforts to revamp South Korea’s second-biggest conglomerate. FILE PHOTO: Chief Vice Chairman of Hyundai Motor Group Chung Eui-sun delivers his speech during the company’s… Continue reading Hyundai set for Elliott showdown as it rejects $6.3 billion payout call
UPDATE 2-PSA picks Peugeot brand for U.S. return after profit record
PARIS (Reuters) – PSA Group’s Peugeot lineup will lead a return to the United States after an absence of almost three decades, as part of a drive to address the group’s dependence on Europe. Carlos Tavares, Chief Executive Officer and Chairman of the Managing Board of PSA Group, attends a news conference to announce the… Continue reading UPDATE 2-PSA picks Peugeot brand for U.S. return after profit record