LG Chem Wroclaw Energy, the Polish subsidiary of South Korea’s top chemical firm LG Chem Ltd., has signed a 480 million-euro (US$530 million) loan agreement with the European Investment Bank (EIB).The television assembly factory is located next to LG Chem’s EV battery plant in Wroclaw.LG Chem supplies EV batteries to 13 of the top 20 car brands, including German automaker Volkswagen, French carmaker Renault, American auto giant General Motors and South Korea’s largest carmaker, Hyundai Motor.
Author: World_Newz Mon
Hyundai to suspend car production of cars at St. Petersburg plant during week off
MOSCOW, March 26. / TASS /. Hyundai will suspend car production at its plant in St. Petersburg between March 30 to April 3 in connection with a presidential decree on the announcement of a non-working week in the country, the company said in a statement on Thursday.
“Hyundai Motor Company announces that, according to the decree of the Russian President, in connection with the difficult epidemiological situation associated with the spread of coronavirus, Hyundai Motor Manufacturing Rus plant will suspend production for the period of March 30 to April 3,” the company said.
Earlier, the Nissan plant in St. Petersburg announced a suspension of production for a week for the same reason.
Earlier this week automakers began to suspend production at their Russian factories due to problems with the supply of parts. Volkswagen and PSA have already announced a downtime, while Sollers also announced the risk of suspension of production of cars at UAZ and Ford Sollers. A significant part of the tota..
Daimler Seeks Over $11 Billion Credit Line to Weather Crisis
Daimler AG is in talks with banks over arranging a new credit facility of at least 10 billion euros ($11 billion) to help it navigate the fallout from the coronavirus pandemic, according to people familiar with the matter.
Kia Sonet launch in August, will rival Maruti Suzuki Vitara Brezza, Hyundai Venue
Kia Sonet was one of the major attractions at this year’s Auto Expo.The upcoming Sonet might share its engines with Hyundai Venue.The transmission options include 6-speed MT and 7-speed DCT with 1.0-litre Kappa Turbo GDI petrol motor, 5-speed MT with 1.2-litre Kappa petrol motor and 6-speed MT with 1.5-litre U2 CRDi BS6 diesel engine.
Nissan plans to suspend car production in St. Petersburg next week
MOSCOW, March 26. /TASS/. Nissan plans to suspend production of cars at a plant in St. Petersburg as part of the announced paid week off, an official representative of the company told TASS.
Earlier, Russian President Vladimir Putin signed a decree declaring a paid week off in the country from March 30 to April 3.
“We will most likely stop the plant next week, now the procedures necessary for this are underway,” he said.
Previously, the plant also announced transition to work in one shift for several months due to the difficult situation in the car market.
According to the Association of European Businesses (AEB), sales of Nissan cars in Russia in 2019 fell by 20% to 65,000 vehicles. In February 2020, the company sold 5,700 vehicles, which is 7% lower than last year's results.
On March 25, Russian President Vladimir Putin has declared that Russians will have a paid week off due to the coronavirus pandemic, the extended public holiday will last from March 28 to April 5. “Now it is ..
Ford aiming to restart truck production on April 14 after coronavirus-related closures
Get all the latest news on coronavirus and more delivered daily to your inbox.The automaker will first resume production at the Hermosillo, Mexico, facility, where it builds the Ford Fusion and Lincoln MKZ sedans on April 6.The F-Series is the best-selling vehicle lineup in the U.S. and Ford’s combined truck sales accounted for half of its output in 2019.
Kia Motors may make face masks at China factory to fight coronavirus
SEOUL, March 25 (Reuters) – South Korea's Kia Motors Corp is considering making face masks at its Chinese factory to help battle the spread of the coronavirus, a spokesman said on Wednesday.
The announcement follows a similar move by Fiat Chrysler , whose CEO Mike Manley said earlier this week that one of the group's plants in Asia would be converted to produce face masks for healthcare workers and would reach a target of one million masks per month in coming weeks.
Kia could make masks at its Yancheng plant after the Chinese government encouraged carmakers to do so, the spokesman said. He declined to comment on possible timing or any manufacturing target.
Kia has suspended production at its Georgia plant in the United States, its Slovakia site and operations in India due to the coronavirus pandemic.
Renault workers use 3D printers to make medical visors
PARIS, March 24 (Reuters) – Renault workers in Spain have begun using 3D printers to manufacture visors for health workers from home, the French carmaker said on Tuesday, in a scheme that could be expanded to make other medical equipment elsewhere.
The move, which echoes experiments under way at other carmakers to find ways to boost production of medical equipment up to and including ventilators, is still small-scale, while shortages in Spain and elsewhere are acute.
Employees sent home because of factory closures have made around 50 mask supports, which are then completed by inserting acetate sheets that shield the face, the company said.
An engineer at the firm said it might be even able to use 3D printers in France to make parts for ventilators, vital for treating severely ill coronavirus patients.
Automakers began to suspend production in Russia due to lack of parts
MOSCOW, March 24. / TASS/ Automakers began to suspend production at their Russian factories due to problems with the supply of parts, the companies revealed on Tuesday.
Volkswagen and PSA have already announced a downtime, while Sollers also announced the risk of suspension of production of cars at UAZ and Ford Sollers.
A significant part of the total Russian capacities for assembling foreign cars will undergo production suspension: in addition to Volkswagen and PSA, in particular, they have their own production capacities in Russia – Renault (plant in Moscow), Chinese Haval (plant in Tula), Mersedes (plant in Moscow Region), Nissan and Hyundai (plants in St. Petersburg).
Lack of foreign parts
Volkswagen closed most of the European sites last week due to coronavirus, PSA plants were closed in Europe until March 27. This was reflected in the Russian capacities of foreign automakers.
Volkswagen plants in Kaluga (production of Tiguan, Polo and Skoda Rapid) and Nizhny Novgorod (contact ass..
Volkswagen to halt production in Russia starting March 30 due to lack of components
MOSCOW, March 24. /TASS/. Production will be halted at Russian facilities of Volkswagen in the period between March 30 and April 10 due to the lack of components supplied from European plants, a source in the company's press service told TASS.
“Due to the lack of components supplied from European plants Volkswagen Group Rus will temporarily halt production at the car plant in Kaluga and contract assembly in Nizhny Novgorod for two weeks – from March 30 to April 10, 2020,” the company said.
“Currently we can ensure stable cars and spare parts supplies to our dealers and clients,” Volkswagen added.
Earlier reports said that the company would temporarily reduce Skoda Rapid production at the plant in Kaluga due to the lack of components.
According to the data provided by the Association of European Businesses (AEB), sales of Volkswagen in Russia decreased by 2% in 2019 to 104,400 units.