Dr. Herbert Diess, CEO, Volkswagen AG, speaks in front of an image of a van concept vehicle during the company’s presentation at the North American International Auto Show in Detroit, Michigan, U.S., January 14, 2019. REUTERS/Jonathan Ernst DETROIT (Reuters) – Volkswagen AG (VOWG_p.DE) said on Monday it is investing $800 million to build a new… Continue reading Volkswagen to invest $800 million, build new electric vehicle in U.S.
Author: Ritters US Newsfeed
Volkswagen to build new electric vehicle in U.S. — Tennessee governor
DETROIT, Jan 14 (Reuters) – Volkswagen AG is announcing on Monday it will build a new electric vehicle at its plant in Chattanooga, Tennessee as it shifts toward zero emission vehicles, the state’s governor told Reuters. The German automaker is making the announcement at the Detroit auto show and will make an unspecified additional investment… Continue reading Volkswagen to build new electric vehicle in U.S. — Tennessee governor
China car sales hit reverse for first time since 1990s
BEIJING/SHANGHAI (Reuters) – Car makers in China will face more fierce competition this year, after a tough 2018 when the world’s biggest auto market contracted for the first time in more than two decades, the country’s top auto industry association said on Monday. FILE PHOTO: Newly manufactured cars are seen at the automobile terminal in… Continue reading China car sales hit reverse for first time since 1990s
Renault-Nissan’s Ghosn received 7 million euros from Dutch JV: Les Echos
FILE PHOTO: Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance, reacts during a news conference in Paris, France, September 15, 2017. REUTERS/Philippe Wojazer/File Photo PARIS (Reuters) – Ousted Renault-Nissan alliance (RENA.PA)(7201.T) chairman Carlos Ghosn was paid 7 million euros ($8 million) through a Dutch joint venture between Nissan and Mitsubishi (7211.T), French financial daily… Continue reading Renault-Nissan’s Ghosn received 7 million euros from Dutch JV: Les Echos
SpaceX to layoff 10 percent of workforce
(Reuters) – Elon Musk’s rocket company SpaceX will reduce its workforce by about 10 percent of the company’s more than 6,000 employees, it said on Friday. FILE PHOTO: The SpaceX headquarters is shown in Hawthorne, California, U.S. September 19, 2018. REUTERS/Mike Blake The company said it will “part ways” with some of its manpower, citing… Continue reading SpaceX to layoff 10 percent of workforce
Nissan China chief Jose Munoz resigns amid broadened Ghosn probe
(Reuters) – Nissan Motor Co Ltd’s (7201.T) head of China operations Jose Munoz has resigned following reports that the Japanese automaker has broadened its investigation into ousted Chairman Carlos Ghosn’s alleged financial misconduct. FILE PHOTO: Jose Munoz, Chairman of Nissan North America, speaks during the North American International Auto Show in Detroit, Michigan, U.S., January… Continue reading Nissan China chief Jose Munoz resigns amid broadened Ghosn probe
Factbox: Corporate investments in EV startups
(Reuters) – Corporations across a variety of industries – auto, energy, electronics, aerospace, telecom – have invested in startup companies engaged in various aspects of automotive electrification, including batteries, charging devices and complete vehicles. Here is a short list of prominent non-automotive corporate investors and the electrification startups they have funded: Intel Corp (technology): Prieto,… Continue reading Factbox: Corporate investments in EV startups
Ford plans to cut 1,150 jobs in Britain, Unite union says
LONDON, Jan 11 (Reuters) – U.S. carmaker Ford plans to cut 1,150 jobs in Britain, the Unite union said on Friday, with nearly 1,000 job losses at its Bridgend engine plant in Wales. On Thursday, Ford said it will cut thousands of jobs, look at plant closures and discontinue loss-making vehicle lines as part of… Continue reading Ford plans to cut 1,150 jobs in Britain, Unite union says
China’s Geely denies Bloomberg report, says has not sold shares in Daimler
FILE PHOTO: The emblem of the Geely automobile maker logo is seen at the IEEV New Energy Vehicles Exhibition in Beijing, China October 18, 2018. Picture taken October 18, 2018. REUTERS/Thomas Peter/File Photo BEIJING/SHANGHAI (Reuters) – Zhejiang Geely Holding Group said on Friday that the company has not sold any shares in German carmaker Daimler… Continue reading China’s Geely denies Bloomberg report, says has not sold shares in Daimler
Geely cuts its Daimler stake by more than half: Bloomberg
The Daimler logo is seen before the Daimler annual shareholder meeting in Berlin, Germany, April 5, 2018. REUTERS/Hannibal Hanschke (Reuters) – Chinese billionaire Li Shufu’s Geely Group cut its 9.7 percent stake in carmaker Daimler AG (DAIGn.DE) by more than half, Bloomberg reported on Friday, citing people familiar with the matter. Li had taken a… Continue reading Geely cuts its Daimler stake by more than half: Bloomberg