Author: World_Newz Mon

Experience, not nationality, key for new CEO at France’s Renault – minister

PARIS, Oct 15 (Reuters) – Experience in overhauling a company and a track record in industry will be more important than nationality when carmaker Renault chooses a new chief executive, France's junior economy minister said on Tuesday.
Renault, in which the French government owns a 15% stake, last week kicked off the search for a new leader after ousting CEO Thierry Bollore, hoping new blood will help it repair relations and strengthen a partnership with Japan's Nissan , which has also switched top managers.
The French state, with a boardroom vote on Bollore's successor, is open to casting the net wide, junior minister Agnes Pannier-Runacher told Reuters.
“When we had to find the best profile for someone to lead Air France, we got someone who is not French – very well,” said Pannier-Runacher, referring to ex-Air Canada boss Ben Smith's appointment last year at the airline, in which Paris also holds a stake.
“It's the best profile that counts here, someone that ..

Decision on Turkey plant postponed, VW tells Tanjug

The Volkswagen board of directors has postponed a decision on the construction of a new car plant in Turkey over Ankara’s military action in Syria, a source in the German automotive concern has told Tanjug.The plant, worth between 1.2 bln and 1.5 bln euros, was to be built near Izmir and hire up to 4,000 people.Serbia and several countries in the region were also vying to land the investment.

2020 marks end of support for fuel cell cars

Hydrogen fuel cell vehicles will no longer receive government subsidies when China withdraws its financial stimuli by the end of 2020.And despite the financial support, China’s fuel cell industry has not made breakthroughs and has not seen rapid development,” said the ministry.It expects global fuel cell vehicles to grow to around two million vehicles a year within that timeframe.

Mexican motor city ‘getting desperate’ as GM’s U.S. strike takes heavy toll

SILAO, Mexico, Oct 11 (Reuters) – Half a continent away from the auto plants of Detroit, U.S. strikes at General Motors (GM) have sent shivers through the central Mexican city of Silao, where the local GM factory furloughed 6,000 workers last week when parts from the United States ran out.
Rich or poor, residents are anxiously hoping the labor dispute will end so the company reopens the plant, which has been an anchor of the local economy since GM arrived a generation ago, transforming the landscape forever.
“General Motors is the biggest source of income here. When General Motors stops, everything stops,” said Silao resident Francisco Vazquez. “Before General Motors, there was nothing.”
Once a provincial backwater with a handful of colorful old churches, Silao is now enveloped in a thick cordon of factories and warehouses serving automotive companies from all over the world.
In the years after GM opened the Silao plant in 1995, dozens of other firms followed, such as Volkswagen, Conti..