MG Motor unveiled an electric sport utility vehicle in India, becoming just the second automaker to launch such a product in a market where clean-energy cars have yet to make a dent.
Author: World_Newz Mon
Italy ‘claims FCA undervalued Chrysler
Bloomberg reported Thursday that Italian tax authorities have claimed Fiat Chrysler Automobiles underestimated the value of its American business by 5.1 billion euros ($5.6 billion) following its phased acquisition of Chrysler several years ago, presenting the carmaker with a potentially hefty bill as it prepares to merge with French rival PSA Group.Fiat Chrysler is now registered in the Netherlands with a tax residence in the U.K. – not Turin, Fiat’s home for more than a century.The move triggered the so-called exit tax that Italy collects on capital gains realized when companies move assets outside the country.
British icon MG Motor to sell electric SUV in India where few can afford them
MG Motor unveiled an electric sport utility vehicle in India, becoming just the second automaker to launch such a product in a market where clean-energy cars have yet to make a dent.The vehicle will take on South Korea’s Hyundai Motor Co., the only other brand with an electric SUV in India.Together, they control two-thirds of the market where 3.4 million passenger vehicles were sold in the year through March.
Audi Hungaria starts serial production of mild-hybrid e-vehicles
The local unit of German carmaker Audi started serial production of its Audi Q3 and Q3 Sportback models with mild-hybrid system, the company told Hungarian news agency MTI on Thursday.The Q3 models are Audiʼs first hybrid cars.
Nissan will pause US operations for two days this January
New York (CNN Business)Nissan plans to close US operations for two days in early 2020.The news was first reported by Motor1.com, and CNN Business confirmed the move with the auto maker.Affected employees will not be paid during the shutdown.
Tesla Competitor NIO Launches Another SUV in China
NIO Inc. is introducing its third sport utility vehicle, a streamlined model aimed at spurring demand in China’s slowing electric-car market.
GM lays off 800 workers during switchover to electric vehicles at Detroit plant
General Motors said Tuesday that it is laying off more than 800 workers as it converts its Detroit Hamtramck plant to an electric vehicle facility.The switch to electric vehicles means the plant won’t need as many workers.FOX Business’ Jason Racki, Grady Trimble and Jonathan Garber contributed to this report.
Schaeffler invests €70m to build new plant in Hungary
German automotive components manufacturer Schaeffler is to build a new facility in the western Hungarian city of Szombathely.The company is to invest HUF 23.5-billion (€70-million) in the project.The Hungarian automotive industry employs around 175,000 people in the central European country.
BMW to start building EUR 1 bln plant in Hungary in spring
German carmaker BMW on Tuesday said it will start construction of a EUR 1 billion plant in Debrecen (195 km east of Budapest) in the spring.BMW will launch a recruiting campaign in Debrecen in the coming weeks and extend it to the whole of Hajdú-Bihar County next year.The handover of the plant site took place in September.
McLaren on the up but still a hard climb ahead
Former champions McLaren left the Abu Dhabi Formula One finale celebrating their best championship finish since their time as grand prix winners, but team boss Zak Brown isn’t expecting any miracles to speed up their climb back into the sport’s elite.Red Bull, once place ahead in third, scored nearly triple the Woking-based team’s total, ending the year with 417 points.Despite being among the most improved teams this year, Brown expects 2020 to be more a case of incremental progress than big leaps.