(Reuters) – Volkswagen AG and Ford Motor Co have been unable to reach agreement on whether or how much the German automaker will invest in Ford’s self-driving vehicle unit, people familiar with the negotiations said. FILE PHOTO: The President and CEO of Ford Motor Company Jim Hackett, poses with Volkswagen CEO Herbert Diess at the… Continue reading Exclusive: VW, Ford far apart on investment in Ford autonomous unit – sources
Author: Ritters US Newsfeed
President Macron to unveil plan to give Europe’s electric battery industry a jolt
PARIS (Reuters) – France will invest 700 million euros ($790 million) over the next five years into projects to boost the European electric car battery industry and reduce its carmakers’ reliance on dominant Asian rivals, said French presidency officials. The new battery of the Renault electric car Z.E. is displayed on media day at the… Continue reading President Macron to unveil plan to give Europe’s electric battery industry a jolt
UPDATE 2-Ford told UK PM May it is preparing alternative production sites -The Times
(Reuters) – Ford Motor Co has told British Prime Minister Theresa May that it is stepping up preparations to move production out of Britain, The Times reported on Tuesday. FILE PHOTO: The logo of Ford is seen during the 88th International Motor Show at Palexpo in Geneva, Switzerland, March 6, 2018. REUTERS/Pierre Albouy The automaker… Continue reading UPDATE 2-Ford told UK PM May it is preparing alternative production sites -The Times
Renault scraps Ghosn’s 30 million euro parachute with government backing
PARIS (Reuters) – Renault said it had scrapped 30 million euros ($34 million) in deferred and severance pay to former boss Carlos Ghosn, forced out last month following his arrest for suspected financial misconduct at Japanese affiliate Nissan. FILE PHOTO: A street monitor showing a news report about arrest of Nissan Chairman Carlos Ghosn is… Continue reading Renault scraps Ghosn’s 30 million euro parachute with government backing
CORRECTED-Ford recalls almost 1.5 mln F-150 pickups in North America for transmission issue
A row of new Ford F-150 pickup trucks are parked for sale at a Ford dealer in the Denver suburb of Broomfield, Colorado April 14, 2011. REUTERS/Rick Wilking (Reuters) – Ford Motor Co on Wednesday said it was recalling about 1.48 million F-150 pickup trucks in North America due to a transmission issue that could… Continue reading CORRECTED-Ford recalls almost 1.5 mln F-150 pickups in North America for transmission issue
Nissan agrees joint venture to build Algerian car assembly plant
A man is silhouetted at a show room of Nissan Motor Co. in Tokyo, Japan, February 12, 2019. REUTERS/Kim Kyung-hoon ALGIERS (Reuters) – Japan’s second-largest automaker Nissan Motor Co has signed a joint venture agreement with an Algerian private partner to build a car assembly plant at a cost of $160 million, the company said… Continue reading Nissan agrees joint venture to build Algerian car assembly plant
U.S. autonomous truck startup TuSimple raises $95 mln from Sina, others
SHANGHAI (Reuters) – U.S. self-driving truck startup TuSimple said it has raised $95 million in a funding round led by Chinese internet giant Sina Corp, which values the three-year-old firm at $1 billion. The fresh funds, investors of which also include Hong Kong-based investment firm Composite Capital, will be used to expand its commercial fleet… Continue reading U.S. autonomous truck startup TuSimple raises $95 mln from Sina, others
Exclusive: Renault to scrap Ghosn’s 30 million euro golden parachute – sources
PARIS (Reuters) – The board of Renault was poised to cancel as much as 30 million euros ($34 million) in deferred pay and severance to its ousted boss Carlos Ghosn, as directors met on Wednesday to approve its full-year accounts, sources told Reuters. FILE PHOTO: Passersby are silhouetted as a huge street monitor broadcasts news… Continue reading Exclusive: Renault to scrap Ghosn’s 30 million euro golden parachute – sources
Ex-Nissan boss Ghosn’s chief defense lawyer resigns; no reason given
Motonari Otsuru, chief lawyer of the ousted Nissan Motor Co Ltd chairman Carlos Ghosn, addresses a news conference in Tokyo, Japan, January 8, 2019. REUTERS/Kim Kyung-hoon TOKYO (Reuters) – Ex-Nissan Chairman Carlos Ghosn’s chief defense lawyer, Motonari Otsuru, has resigned, his law office said Wednesday, a stunning twist to the nearly three-month case over alleged… Continue reading Ex-Nissan boss Ghosn’s chief defense lawyer resigns; no reason given
Amazon, GM in talks to invest in electric pickup truck maker Rivian -sources
(Reuters) – Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter said on Tuesday. FILE PHOTO: The logo of Amazon is seen at the company… Continue reading Amazon, GM in talks to invest in electric pickup truck maker Rivian -sources