Ford Motor Co. shareholders aren’t ready to take a victory lap over the stock showing signs of life in the early stages of a years-long restructuring.
Author: World_Newz Mon
Volkswagen’s systems can’t cope with 10,000 electric car orders
London (CNN Business)Volkswagen says its IT systems are melting down as people rush to order its new electric car online.Customers need a €1,000 ($1,120) deposit to reserve one of the 30,000 cars Volkswagen plans to make.The German carmaker plans to release 70 different electric models over the next decade, across brands including Audi, Porsche and Skoda.
Endangered? Ford ‘Coyote’ V8 production moves aside for ‘Godzilla’
You coulda had a V8, but most of you didn’t, so Ford is making some changes.The automaker has confirmed plans to go from three to two shifts at its Essex Engine plant in Windsor, Canada, where it currently builds the iconic 5.0-liter “Coyote” V8 for the Mustang and F-150.Along with continued production of the Coyote, the automaker will begin the manufacture of a new, lower volume 7.3-liter “Godzilla” V8 at the nearby Windsor Engine Plant annex for its Super and Medium Duty trucks later this year.
Volvo Cars reports 7.4 pct global sales growth in April
STOCKHOLM, May 3 (Xinhua) — Volvo Cars global sales grow up 7.4 percent in April, compared with the same period last year, according to the company's press release on Friday.
Total sales in April reached 56,535 cars with all the regions of China, U.S. and Europe reporting a growth in volumes compared with the same month last year. Meanwhile, sales in the January-April period stood at 217,855 cars, up 8.9 percent compared with the same period last year.
The volume growth in April was led by continued strong demand for Volvo's award-winning SUV range led by the XC60, and followed by the XC40 and XC90. Volvo's latest models, the V60 estate and the U.S.-built S60 sedan, also contributed to the increased volumes, the company said.
Regionally, China reported a strong sales growth of 16.8 percent in April compared with the same period last year. Total sales in the region reached 12,192 cars during the month. The growth was on the back of high demand for the locally assemble..
France and Germany join forces on R&D for car batteries in project called ‘Battery Airbus’
France and Germany will work together on project ‘Battery Airbus’, a car battery research and development initiative with an estimated initial investment between EUR 5 and 6 billion.Today, the battery production segment for electric cars is dominated by the Japanese company Panasonic Corp., alongside South Korean manufacturers Samsung SDI Co and LG Chem and Chinese Contemporary Amperex Technology.The European Commission launched its own European Battery Alliance (EBA) in 2017 to support the development of European battery production for electric cars.
Volkswagen sets aside 5.5 billion euros in contingent liabilities for diesel scandal
Volkswagen said it has set aside 5.5 billion euros ($6.16 billion) in contingent liabilities to cover possible risks arising from a diesel cheating scandal, chief financial officer Frank Witter said on Thursday.In 2015 VW was caught using illegal engine control software to cheat U.S. pollution tests by masking excessive levels of nitrogen oxide pollution coming from its diesel cars.
At Aston Martin, Facing Down Demons and Building for the Future
The 106-year-old automaker is working hard to beat a few imposing obstacles, from a limp IPO to historically low production volume.
German chauffeur service Blacklane targets Middle East
German chauffeur service Blacklane is planning an initial public offering (IPO) in the next three years, its chief executive told Reuters.Blacklane, which competes with the likes of British premium car service Addison Lee and UberBLACK, the ride-hailing app’s luxury arm, caters to business customers in 300 cities in 60 countries.
Jaguar to move Land Rover Defender production to Slovakia
The plant was built with an initial capacity of 150,000 vehicles and started by taking over production of the carmaker’s Discovery model.The British government has been wary of carmakers moving production outside the country after the industry warned that it would face possible risks if Britain’s impending exit from the European Union is disorderly.The risks, including delays to the supply of parts and finished models, new customs bureaucracy, the need to re-certify cars and an up to 10 percent tariff on finished vehicles, have forced carmakers to draw up contingency plans and even briefly shut production at their plants.
NAMI plans to produce 150 Aurus luxury cars in 2019, Ministry of Industry says
MOSCOW, April 29. /TASS/. Russia’s NAMI plans to produce 150 Aurus premium cars in 2019, press service of the Ministry of Industry told TASS on Tuesday.
“NAMI will be able to produce 150 cars at its facilities in 2019, with a small portion to be on the market already this year,” the ministerial press service said.
Prices for Aurus Senat and Aurus Senat Limousine models are expected to be announced in the second half of May, the press service added.
Aurus is a Russian brand of cars for senior officials. The car was designed as part of the Cortege project, implemented by NAMI (Central Scientific Research Automobile and Automotive Engines Institute) in Moscow, Russia, since 2013.
Initially the goal was to design a limousine for the Russian president. The project envisages by now the creation of the line of cars on the base of a single platform (sedan, limousine, minivan and sport utility vehicle (SUV)). The limousine was first used during the inauguration of Russian President Vladimir..