SAO PAULO (Reuters) – Volkswagen’s (VOWG_p.DE) Brazil operation is putting workers on a 20-day furlough, the company said on Monday, citing reduced demand from Argentina, which is undergoing an economic crisis that has derailed growth and slashed spending power. FILE PHOTO: A Volkswagen logo is pictured in front of a slum, at the Volkswagen plant… Continue reading Volkswagen furloughs workers in Brazil as demand from depressed Argentina weakens
Author: Ritters US Newsfeed
Fiat Chrysler prepares to produce plug-in hybrid Jeep Renegade
MILAN (Reuters) – Fiat Chrysler (FCA) said on Monday it had kicked-off preparations for the production of a plug-in hybrid version of the Jeep Renegade as the carmaker pushes ahead with its electrification drive to meet tougher emissions rules. FILE PHOTO: A car with the Jeep logo badge is seen on display at the North… Continue reading Fiat Chrysler prepares to produce plug-in hybrid Jeep Renegade
Auto firm Faraday Future wants to scrap stake sale to Evergrande Health – filing
HONG KONG, Oct 7 (Reuters) – Faraday Future, a start-up that is developing electric vehicles, is seeking arbitration to terminate a deal to sell a 45 percent stake to China’s Evergrande Health Industry Group Ltd, the healthcare firm said on Sunday. Evergrande Health, a subsidiary of property developer China Evergrande Group, said in June it… Continue reading Auto firm Faraday Future wants to scrap stake sale to Evergrande Health – filing
Daimler starts building electric car batteries in Tuscaloosa
FRANKFURT (Reuters) – Daimler (DAIGn.DE) on Friday said it will start building a battery plant as part of its planned $1 billion investment to upgrade its factory in Tuscaloosa, Alabama, which has also started to produce a new sports utility vehicle, the GLE. FILE PHOTO: The Daimler logo is seen before the Daimler annual shareholder… Continue reading Daimler starts building electric car batteries in Tuscaloosa
Delphi CEO Liam Butterworth steps down
(Reuters) – Auto parts supplier Delphi Technologies Plc said on Friday Chief Executive Officer Liam Butterworth was stepping down, ten months after taking charge. The company, which also cut its full-year revenue forecast, said director Hari Nair would be the interim CEO and its board has commenced a comprehensive search process to identify a permanent… Continue reading Delphi CEO Liam Butterworth steps down
UPDATE 2-Toyota, SoftBank to team up in self-driving and other technology -sources
TOKYO (Reuters) – Toyota Motor Corp (7203.T) and SoftBank Group Corp (9984.T) will announce a partnership on automated driving and other technology on Thursday, sources with knowledge of the matter told Reuters. FILE PHOTO: The Toyota logo is seen during the first press day of the Paris auto show, in Paris, France, October 2, 2018.… Continue reading UPDATE 2-Toyota, SoftBank to team up in self-driving and other technology -sources
Gm CEO: Honda owns 5.7 pct stake in Cruise and Softbank owns 10 pct
DETROIT, Oct 3 (Reuters) – General Motors president says moving as quickly as we can to deploy and then scale up autonomous technology General Motors president says Honda bringing significant financial resources to the development of Cruise autonomous technology GM CEO says Honda owns 5.7 pct stake in Cruise and Softbank owns 10 pct after… Continue reading Gm CEO: Honda owns 5.7 pct stake in Cruise and Softbank owns 10 pct
Renault-Nissan, Daimler mull extending alliance to autonomous, battery tech
PARIS (Reuters) – Renault-Nissan and Daimler may expand their cooperation to battery and autonomous cars technology and mobility services, the companies said on Wednesday. Carlos Ghosn, chairman and CEO of the Renault-Nissan-Mitsubishi Alliance, attends a press conference on the second press day of the Paris auto show, in Paris, France, October 3, 2018. REUTERS/Regis Duvignau… Continue reading Renault-Nissan, Daimler mull extending alliance to autonomous, battery tech
BMW says rivals are interested in joining forces on self-driving cars
FRANKFURT (Reuters) – BMW (BMWG.DE) rivals and ride-hailing companies are considering joining its consortium for developing self-driving cars as auto industry profits come under increasing pressure, board member Klaus Froehlich said on Tuesday. FILE PHOTO: The BMW logo is seen on a vehicle at the New York Auto Show in the Manhattan borough of New… Continue reading BMW says rivals are interested in joining forces on self-driving cars
Peugeot open to new deals as turnaround draws attention -CEO
PARIS (Reuters) – French carmaker PSA Group (PEUP.PA) is open to new industry tie-ups and is attracting attention from competitors after its lightning turnaround and swift progress in restructuring recently acquired Opel, Chief Executive Carlos Tavares said. FILE PHOTO: Carlos Tavares, Chief Executive Officer and Chairman of the Managing Board of PSA Group, poses in… Continue reading Peugeot open to new deals as turnaround draws attention -CEO