The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid WASHINGTON (Reuters) – Ford Motor Co said on Thursday it is investing more than $1 billion in its Chicago operations and adding 500 jobs as it prepares to launch three new SUVs this year.… Continue reading UPDATE 1-Ford investing $1 bln, adding 500 jobs in Chicago
Author: Ritters US Newsfeed
Startup Aurora gets $530 mln boost to build self-driving cars
SAN FRANCISCO, Feb 7 (Reuters) – Self-driving car startup Aurora has raised more than $530 million in fresh funding, bucking recent skepticism by investors and industry players that autonomous vehicle technology has been overhyped. Autonomous driving is one of the most capital intensive startup businesses, and such a large sum of money is critical for… Continue reading Startup Aurora gets $530 mln boost to build self-driving cars
Fiat Chrysler shares tumble as 2019 guidance disappoints
MILAN (Reuters) – Fiat Chrysler (FCA) shares fell 11 percent on Thursday after weaker-than-expected guidance for profits and industrial free cash flow this year raised doubts about the Italian-American carmaker’s longer-term targets. FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at its U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca… Continue reading Fiat Chrysler shares tumble as 2019 guidance disappoints
UPDATE 1-Volvo Cars feels margin pressure from U.S.-China tariff war
STOCKHOLM (Reuters) – Chinese-owned Volvo Cars reported a fall in 2018 profit margins as a prolonged trade war between Washington and Beijing pushed up costs and resulted in pricing pressure in its main market China. FILE PHOTO: Volvo Cars U.S. production plant is pictured in Ridgeville, South Carolina, U.S. June 20, 2018. REUTERS/Randall Hill The… Continue reading UPDATE 1-Volvo Cars feels margin pressure from U.S.-China tariff war
CORRECTED-Volvo Cars feels margin pressure from U.S.-China tariff war
FILE PHOTO: Volvo Cars U.S. production plant is pictured in Ridgeville, South Carolina, U.S. June 20, 2018. REUTERS/Randall Hill STOCKHOLM (Reuters) – Volvo Cars, owned by China’s Geely, reported higher full-year revenue on Thursday, but said its profit margins had slipped and were expected to remain under pressure this year. Carmakers have faced rising costs… Continue reading CORRECTED-Volvo Cars feels margin pressure from U.S.-China tariff war
UPDATE 2-GM’s incentive plan for Cruise chief points to IPO-SEC filing
DETROIT (Reuters) – General Motors Co on Wednesday outlined an incentive plan for the head of its self-driving car unit that points the way toward a possible initial public offering for the business. FILE PHOTO: General Motors President Dan Ammann speaks during GM’s press conference at the North American International Auto Show in Detroit, Michigan,… Continue reading UPDATE 2-GM’s incentive plan for Cruise chief points to IPO-SEC filing
Fiat Chrysler, Bosch agree to pay $66 million in diesel legal fees: filing
WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV and Robert Bosch have agreed to pay lawyers representing owners of U.S. diesel vehicles $66 million in fees and costs, according to court filing on Wednesday and people briefed on the matter. FILE PHOTO: A screen displays the ticker information for Fiat Chrysler Automobiles NV at the post… Continue reading Fiat Chrysler, Bosch agree to pay $66 million in diesel legal fees: filing
CORRECTED-GM Cruise chief stands to earn $25 mln in incentives -SEC filing
(Corrects headline and first sentence to show that total potential incentive package is “more than $25 million,” not “more than $179 million.” Corrects 2nd paragraph to show that the stock options will only have value above the $1,515 strike price, not that all the shares in the restricted stock units and the stock options are… Continue reading CORRECTED-GM Cruise chief stands to earn $25 mln in incentives -SEC filing
GM Cruise chief could earn $179 million in long-term incentives
DETROIT (Reuters) – The head of General Motors Co’s Cruise self-driving car unit stands to make more than $179 million over the next decade if the technology subsidiary experiences a change in ownership or is listed publicly, according to a regulatory filing on Wednesday. FILE PHOTO – The GM logo is seen at the General… Continue reading GM Cruise chief could earn $179 million in long-term incentives
GM Cruise chief stands to earn $179 million in incentives: SEC filing
FILE PHOTO – The GM logo is seen at the General Motors Assembly Plant in Ramos Arizpe, in Coahuila state, Mexico November 25, 2017. REUTERS/Daniel Becerril/File Photo DETROIT (Reuters) – The head of General Motors Co’s Cruise self-driving car unit stands to make more than $179 million over the next decade if the technology subsidiary… Continue reading GM Cruise chief stands to earn $179 million in incentives: SEC filing