Jaguar Land Rover Automotive Plc has shelved plans to issue a U.S dollar bond after investors demanded too high an interest rate to compensate for the risk the coronavirus poses to the luxury carmaker, according to people familiar with the matter.
Author: World_Newz Mon
Daimler Leaders Retool Management at Mercedes-Benz, Van Units
Daimler AG’s top management tightened control over its flagship Mercedes-Benz luxury-car unit and the vans division that turned in an outsized loss in 2019.
Tesla signs agreement with CATL battery maker
China’s leading power battery maker, Contemporary Amperex Technology Co Ltd, announced Thursday it has signed a volume production supply pricing agreement with US carmaker Tesla.Tesla is in talks to use CATL’s cobalt-free batteries in cars made at its Shanghai plant, citing people familiar with the matter.CATL saw its shares a sharp surge by the midday on Feb 20, gaining 5.32 percent to 161.35 yuan per share ($22.98).
Tesla Cybertruck Orders Average 5,873 Per Day, Now Over 500,000
Tesla Cybertruck Orders Average 5,873 Per Day, Now Over 500,000 Forbes | Feb 19, 2020 at 12:00 AM The reservation rate is outpacing Tesla’s Model 3, which received 518,000 reservations in about five months.
Aston Martin puts planned WEC, Le Mans Hypercar entry on hold
Aston Martin said on Wednesday it was putting on hold a planned entry into the World Endurance Championship (WEC) and Le Mans 24 Hours with its Valkyrie hypercar.This will allow IMSA prototypes to compete for outright victory at Le Mans and the WEC in 2021-22.The Valkyrie was created as part of a technology partnership between Aston Martin and Red Bull Advanced Technologies.
Tesla China Funding May Be Subject of SEC Inquiry, Evercore Says
Tesla Inc.’s financing arrangements in China may be the subject of the Securities and Exchange Commission inquiry that the electric-car maker disclosed last week, according to analysts at Evercore ISI.
Production Halted Again at Hyundai’s Ulsan Plant
Hyundai is halting production at one of its factories again due to a shortage of parts supplied from China due to the coronavirus outbreak.The Ulsan plant earlier halted production from Feb. 5-12 due to a stoppage in supplies from China of cable harnesses, a bundle of wires that connect various circuits in a car.Other automakers here have also been forced to idle many assembly lines since parts supplies from China have been disrupted due to the coronavirus outbreak there.
Ford recalling over 240K vehicles at risk of suspension failure
Ford is recalling over 240,000 SUVs and cars worldwide because a suspension part can fracture and increase the risk of a crash.The recall covers the Ford Flex, Taurus police car, Taurus SHO and Lincoln MKT from the 2013 through 2018 model years.Most of the recalled vehicles are in North America.
JCB to cut UK production as virus hits supply chain
…halt production soon as it struggles to source parts from Chinese suppliers. Meanwhile, Hyundai shut all of its car factories in South Korea after running out of components. Global tech companies’ supply…
Struggling NIO Delays Salary Payments Because of Coronavirus
NIO Inc. Chairman William Li told employees that the cash-strapped electric carmaker will pay January salaries six days late because of difficulties stemming from the outbreak of the novel coronavirus.