New Delhi: Mahindra & Mahindra (M&M) on Wednesday said it has cut redundant job roles at its North American unit due to de-prioritising of non-core work amid a challenging business environment. Mahindra Automotive North America (MANA), which till early 2020 employed around 500 people, is reported to have slashed over half of the workforce. MANA… Continue reading M&M cuts redundant job roles at its North American unit
Author: Economic Times of India Online News
Geely and Foxconn to form auto partnership: Sources
Taiwan’s Foxconn and Chinese automaker Zhejiang Geely Holding Group will form a partnership to provide contract manufacturing and consultancy services to automakers and mobility companies, three sources said on Wednesday. The two companies will set up a joint venture which will form the basis of a strategic partnership for the auto industry, said one source… Continue reading Geely and Foxconn to form auto partnership: Sources
GM to build electric delivery vans under new BrightDrop brand
Washington: General Motors unveiled plans Tuesday to build electric vans under the new BrightDrop brand, in a move aimed at creating a new ecosystem for delivery of goods. “BrightDrop offers a smarter way to deliver goods and services,” said GM chairman and chief executive Mary Barra as she unveiled the new brand at the virtual… Continue reading GM to build electric delivery vans under new BrightDrop brand
Baidu, Geely join hands to establish intelligent EV company
Beijing: China-based search engine giant Baidu Inc on Monday announced its partnership with multinational auto manufacturer Zhejiang Geely Holding Group (Geely) to establish a company to produce intelligent electric vehicles (EV). Through this partnership, Baidu will provide intelligent driving capabilities to power the passenger vehicles for the new venture, and Geely, which holds the distinction… Continue reading Baidu, Geely join hands to establish intelligent EV company
Chinese EV maker Nio may launch mass market vehicles under another marque
CHENGDU: China’s electric vehicle (EV) maker Nio Inc, which competes with conventional premium automakers including Daimler AG and BMW, may make mass market products under another marque, its chief executive said. “As EV technologies advance and battery cost lowers, it is possible that we may enter the massive market, but definitely not with Nio brand,”… Continue reading Chinese EV maker Nio may launch mass market vehicles under another marque
Renault Samsung to cut top jobs, slash pay amid pandemic
Seoul: Renault Samsung Motors Corp said it will reduce the number of executives and their salaries as the company has entered emergency management amid the Covid -19 pandemic. The South Korean unit of Renault SA has suffered a sharp decline in sales due to lack of new models and the pandemic’s impact on production and… Continue reading Renault Samsung to cut top jobs, slash pay amid pandemic
Baidu plans smart EV company, to make cars at Geely plant: Sources
The venture will revamp some of Geely’s existing car manufacturing facilities to make the vehicles, with in-car software input from Baidu and engineering know-how from Geely, sources told Reuters. By Yingzhi Yang, Yilei Sun and Brenda Goh BEIJING: China’s Baidu Inc plans to form a company to make smart electric vehicles (EV), two sources familiar… Continue reading Baidu plans smart EV company, to make cars at Geely plant: Sources
Britain ends long Brexit journey with economic break from EU
London: Britain’s long and sometimes acrimonious divorce from the European Union ended on Thursday with an economic split that leaves the EU smaller and the UK freer but more isolated in a turbulent world. Britain left the European blocs vast single market for people, goods and services at 11 pm London time, midnight in Brussels,… Continue reading Britain ends long Brexit journey with economic break from EU
Enel pens deal with China’s Weltmeister to boost electric car exports
Representative Image MILAN: Italian utility Enel said on Wednesday it had inked a deal with Weltmeister to develop the Chinese-owned electric car brand’s charging infrastructure globally and help boost exports. Enel X, Enel’s advanced energy services unit, said it would offer smart charging solutions and one-stop after-sales services for Weltmeister products exported to overseas markets.… Continue reading Enel pens deal with China’s Weltmeister to boost electric car exports
Kia Motors’ union in S.Korea approves tentative labour deal
Representative Image SEOUL: South Korean workers for Kia Motors Corp have agreed to a freeze in base salary for the first time in 11 years under a preliminary deal with the automaker following 16 rounds of negotiations, a union official said on Tuesday. Instead of a raise in base salary, each unionised worker would receive… Continue reading Kia Motors’ union in S.Korea approves tentative labour deal