Vietnam-based Hyundai (KS:005380) assembler TC Motor and Honda (T:7267) Vietnam have shut down their plants for two weeks amid a nationwide social distancing campaign to curb the spread of the coronavirus, the companies said on Wednesday.
Author: World_Newz Mon
Jaguar’s first-ever XJ electric sedan spotted testing
After a production run of almost 5 decades, Jaguar Land Rover pulled the plug on the XJ sedan in 2019 and now after almost a year, the brand’s latest electric XJ has seen the light and is out in the open testing.Now, not much is known at this point of time about the electric XJ, but we do know that the electric sedan will be based on Jaguar Land Rover’s electrified MLA platform built for EVs, hybrids, and plug-in hybrids that will be part of JLR’s portfolio by 2025.The front is slightly similar to the XF sedan with the wide fenders in the front, while the rear sports the traditional horizontal lights as opposed to the vertical lights from the erstwhile conventional version.
Automaker Toyota suspends vehicle production in Vietnam due to COVID-19 epidemic
HANOI, March 31 (Xinhua) — Toyota Motor Vietnam (TMV) has temporarily suspended vehicle production in order to prevent the COVID-19 outbreak from spreading, Vietnam News Agency reported.
The outbreak has impacted all aspects of business, from economy to society, including the automobile industry, and Toyota dealers in the capital city of Hanoi have temporarily closed showrooms and workshops, the news agency cited Toyota as reporting.
Production resumption will depend on the outbreak situation, market demand, supply chain situation, stocks and the country government's restriction regulations, the news agency reported.
TMV is the second automaker in Vietnam to announce operation suspension due to the impacts of COVID-19. The first was Ford Vietnam which suspended operations at its factory in the northern province of Hai Duong.
BMW Taps German Debt Market as Coronavirus Batters Auto Industry
Bayerische Motoren Werke AG sold a 200 million-euro ($220 million) deal in the German Schuldschein debt market even as coronavirus upheavals weigh on the global auto industry.
Ford delays manufacturing restart indefinitely, but will build ventilators for coronavirus fight
Get all the latest news on coronavirus and more delivered daily to your inbox.Ford will delay the reopening of its North American manufacturing facilities indefinitely due to the coronavirus pandemic.Approximately 500 paid-volunteer members of the UAW will work at the facility.
Aston Martin May Need More Cash Even After Bailout by Billionaire
Aston Martin Lagonda Global Holdings Plc said it may need to tap into high-interest notes it was trying to avoid drawing down, even after a 536 milion-pound ($663 million) capital infusion from a group led by billionaire Lawrence Stroll.
France’s Renault puts Paris white collar staff on partial unemployment
PARIS, March 30 (Reuters) – French carmaker Renault put most of its white collar staff in the Ile-de-France region around Paris on partial unemployment on Monday as the lockdown imposed due to the coronavirus outbreak lowered activity.
The company will use the scheme that French government has set up to fight the economic crisis caused by the pandemic.
Under the scheme, Paris has pledged to reimburse companies so that workers placed on partial unemployment can still get most of their salary.
“After a two-week stoppage of industrial and commercial activity, it is necessary to adapt the working hours of employees”, a Renault spokeswoman told Reuters.
From Monday and until further notice, Renault white collar staff will work from home in the morning and will be on partial unemployment in the afternoon.
Only a few people will keep their full-time jobs to ensure key activities such as security, maintenance and communication.
The partial unemployment measure in the region of Paris will affec..
GM Agrees to $120 Million Settlement to Resolve Ignition Suits
General Motors Co. agreed to a $120 million settlement over faulty ignition switches that allegedly caused cars to stall and air bags to deploy, in some cases triggering fatal accidents.
Tata Motors to spin off cars unit to seek strategic allies
Tata Motors Ltd., the Indian owner of Jaguar Land Rover, plans to separate its cars business from trucks and buses, as the company seeks partners for a unit slammed by the coronavirus outbreak and a global shift to electric vehicles.Tata Motors’ shares fell 0.1% in Mumbai after surging as much as 7.2% earlier in the day.Tata Motors also appointed Shailesh Chandra, head of its electric vehicles business, as the head of the cars unit.
Ford Sollers to suspend car production in Tatarstan from March 28 to April 5
KAZAN, March 27. /TASS/. Car production at the Ford Sollers plant in Yelabuga, Russia's republic of Tatarstan, will be suspended next week in accordance with the Russian President's decree establishing March 30-April 3, 2020 paid days off across the country, the company's PR-coordinator in Tatarstan Indira Salimgaraeva told TASS.
“In compliance with the decree by Russian President Vladimir Putin issued on March 25 following the aggravation of the situation caused by the spread of the coronavirus COVID-19 in Russia, a special mode of activity will be introduced at the Ford Sollers plant in Yelabuga from March 28 to April 5. During this period, the production and shipment of Ford Transit cars, the reception of automotive components and other production activities not related to the life support and maintenance of the accident-free condition of the plant will be suspended, a non-working week has been announced for employees,” she said.
She added that the next week will be a..