BERLIN, Nov 6 (Reuters) – German automotive supplier Schaeffler will shut two factories in Britain as part of changes prompted partly by Britain’s planned exit from the European Union, it said on Tuesday. The ball bearings maker said its factories in Plymouth and Llanelli, Wales, would be shut down in the medium term, with production… Continue reading German auto parts maker Schaeffler to close two UK plants
Author: Ritters US Newsfeed
Ailing EV maker Faraday Future to explore strategic options
(Reuters) – Faraday Future said on Thursday it was exploring strategic options, including debt and equity financing, two days after the Chinese electric vehicle developer’s co-founder Nick Sampson stepped down. The company said it “can now welcome potential investors from around the world”. The move comes as the cash-strapped company, which has ambitions to overtake… Continue reading Ailing EV maker Faraday Future to explore strategic options
GM halts two renovation projects as it looks to cut costs
FILE PHOTO: The GM logo is seen at the General Motors Lansing Grand River Assembly Plant in Lansing, Michigan October 26, 2015. REUTERS/Rebecca Cook/File Photo WASHINGTON (Reuters) – General Motors Co is halting work on two renovation projects at facilities in the Detroit area as it offers voluntary severance packages to 18,000 salaried workers in… Continue reading GM halts two renovation projects as it looks to cut costs
GM CEO expects Tesla to be around in the next 10 years
FILE PHOTO: General Motors Chairman and CEO Mary Barra speaks at GM’s press conference at the North American International Auto Show in Detroit, Michigan, U.S., January 16, 2018. REUTERS/Rebecca Cook/File Photo (Reuters) – General Motors Co’s (GM.N) Chief Executive Officer Mary Barra said on Thursday she expects Tesla Inc (TSLA.O) to be around in the… Continue reading GM CEO expects Tesla to be around in the next 10 years
Tesla auto-park upgrade to be ready in six weeks: Musk
Elon Musk speaks at a meeting in Bel Air, Los Angeles, California, U.S. May 17, 2018. REUTERS/Lucy Nicholson (Reuters) – An upgrade to Tesla Inc’s ‘Summon’ auto-parking feature will be ready within six weeks and will allow its vehicles to drive around a parking lot, find an empty spot and read parking signs, Chief Executive… Continue reading Tesla auto-park upgrade to be ready in six weeks: Musk
Mao Zedong’s Red Flag car gets driverless makeover
BEIJING (Reuters) – China’s iconic Red Flag, the vehicle of choice of former revolutionary leader Mao Zedong, is going hands-free. Chinese tech giant Baidu Inc said on Thursday it would launch a fully autonomous passenger car next year in a partnership with Hongqi, or Red Flag, the car brand long favored by China’s political elite.… Continue reading Mao Zedong’s Red Flag car gets driverless makeover
UPDATE 3-VW and Ford in talks on self-driving and electric vehicles -source
FRANKFURT/DETROIT (Reuters) – Volkswagen AG (VOWG_p.DE) and Ford Motor Co are in “exploratory talks” to jointly develop self-driving and electric vehicles in a far-reaching strategic alliance meant to save the companies billions of dollars, according to a person familiar with the matter. FILE PHOTO: A car with the Volkswagen VW logo badge is seen on… Continue reading UPDATE 3-VW and Ford in talks on self-driving and electric vehicles -source
GM offering buyouts to cut North American salaried staff
FILE PHOTO: The GM logo is seen at the General Motors Lansing Grand River Assembly Plant in Lansing, Michigan October 26, 2015. REUTERS/Rebecca Cook/File Photo DETROIT (Reuters) – General Motors Co (GM.N) said on Wednesday it plans to cut its North American salaried workforce, starting with voluntary buyout offers but resorting to layoffs if necessary.… Continue reading GM offering buyouts to cut North American salaried staff
Honda and GAC Group to build $430 million Chinese plant for new-energy cars
FILE PHOTO: A staff member cleans Honda brand’s accord sedan model at the booth of Guangzhou Automobile Group during the Auto China 2016 auto show in Beijing, China, April 26, 2016. REUTERS/Kim Kyung-Hoon/File Photo BEIJING (Reuters) – Honda Motor Co’s (7267.T) joint venture with GAC Group (601238.SS)(2238.HK) will invest 3.27 billion yuan ($469 million) in… Continue reading Honda and GAC Group to build $430 million Chinese plant for new-energy cars
UPDATE 2-Ailing EV maker Faraday Future co-founder Nick Sampson quits
FILE PHOTO: Nick Sampson, senior vice president of product R&D and engineering at Faraday Future, speaks during an unveiling event for the Faraday Future FF 91 electric car in Las Vegas, Nevada January 3, 2017. REUTERS/Steve Marcus (Reuters) – Chinese electric vehicle developer Faraday Future said on Tuesday its co-founder Nick Sampson has resigned, a… Continue reading UPDATE 2-Ailing EV maker Faraday Future co-founder Nick Sampson quits