By Mark Kleinman, City editor The owner of Aston Martin is facing the embarrassing prospect of a revolt over boardroom pay within months of its £4.3bn flotation amid growing City unrest over the luxury car-maker’s performance. Sky News can reveal that several investors in Aston Martin Lagonda Global Holdings plan to vote against the company’s… Continue reading Aston Martin faces pay revolt after £4bn float stumbles
Author: Sky News UK
Jaguar Land Rover and BMW form electric partnership
Jaguar Land Rover (JLR) and BMW have been revealed as the latest carmakers to join forces on the development of electric vehicle technology. The pair said they would use their own existing facilities to jointly develop electric motors, transmissions and power electronics. There have been several collaborations in the industry as companies race to lead… Continue reading Jaguar Land Rover and BMW form electric partnership
Volkswagen to cut 4,000 jobs in modernisation plan
Volkswagen says 4,000 jobs are going to be cut as part of a modernisation plan. The German carmaker said a €4bn (£3.5bn) drive for digitalisation over the next four years would see non-production roles hit. At the same time, the company said, 2,000 jobs would be created to support the transformation programme. The job cuts… Continue reading Volkswagen to cut 4,000 jobs in modernisation plan
Tesla Model 3 available for cheaper in China as pre-orders open
Tesla has opened pre-orders in China for its Model 3 cars, which are being sold at a 13% discount for Chinese consumers. The domestically-produced cars are cheaper than the models being imported from the US, and Tesla stated it expects to begin deliveries within the next 10 months. Elon Musk attended the ground-breaking ceremony opening… Continue reading Tesla Model 3 available for cheaper in China as pre-orders open
Ex-Nissan boss Carlos Ghosn denied bail despite offer to wear electronic tag
Carlos Ghosn may have to remain in custody in Japan until his trial for alleged financial misconduct after his latest bid for freedom failed. Lawyers for the ousted Nissan chairman went to court in Tokyo on Tuesday in a renewed attempt to get bail for the 64-year-old, two months after his shock arrest. It emerged… Continue reading Ex-Nissan boss Carlos Ghosn denied bail despite offer to wear electronic tag
Nissan-Mitsubishi alleges Ghosn failed to discuss £7m in ‘improper payments’
Scandal-hit Renault boss Carlos Ghosn improperly received €7.8m (£7m) from a joint venture between Nissan and Mitsubishi, the carmakers allege. Netherlands-based Nissan-Mitsubishi BV says the payment was made despite no discussion with the other two board members, Nissan chief executive Hiroto Saikawa and Mitsubishi CEO Osamu Masuko. Ghosn was arrested on 19 November on charges of… Continue reading Nissan-Mitsubishi alleges Ghosn failed to discuss £7m in ‘improper payments’
Aston Martin revs up audit hunt months after IPO
Aston Martin Lagonda, the luxury car-maker, has kicked off the search for a new auditor less than three months after making a £4bn stock market debut. Sky News has learnt that Aston Martin, which has seen its shares fall sharply since listing in October, has begun contacting accountancy firms about replacing KPMG in the coming… Continue reading Aston Martin revs up audit hunt months after IPO
Aston Martin considers flying in parts after Brexit amid Dover port concerns
The boss of Aston Martin says border problems after Brexit could leave it unable to use Dover to send and receive parts. The British carmaker is examining contingency plans amid concerns that the port may not cope with the increase in red tape expected after the UK leaves the European Union. The firm’s chief executive… Continue reading Aston Martin considers flying in parts after Brexit amid Dover port concerns
Aston Martin names Penny Hughes as first female chair ahead of iconic car-maker’s £5bn public debut
Aston Martin Lagonda has named Penny Hughes as its first female chair as the luxury car-maker heads for a £5bn stock market listing. The announcement confirms a Sky News exclusive that the former Coca-Cola executive would be appointed to the board, becoming one of just a handful of female chairs of the UK’s biggest quoted… Continue reading Aston Martin names Penny Hughes as first female chair ahead of iconic car-maker’s £5bn public debut
Aston Martin picks Hughes to steer car-maker’s £5bn public debut
A former Coca-Cola executive who is one of Britain’s most experienced boardroom figures has been lined up to steer Aston Martin’s £5bn drive onto the London stock market. Sky News can exclusively reveal that Penny Hughes will become the first female chair of a British car-maker when the luxury marque lists its shares in the… Continue reading Aston Martin picks Hughes to steer car-maker’s £5bn public debut