Category: News Type

Toyota and Honda to ramp up China plants to make up lost output

TOKYO — Japanese auto companies will accelerate production in China from May as the country recovers from the coronavirus pandemic earlier than other parts of the world. The carmakers are moving to pump up output to position themselves as they see the massive market re-emerging as the global sales leader. Toyota Motor and Honda Motor… Continue reading Toyota and Honda to ramp up China plants to make up lost output

Ford Motor steps up campaign to convince union workers to restart U.S. output

DETROIT, April 30 (Reuters) – Ford Motor Co on Thursday outlined the safety measures it will institute to restart its most profitable U.S. plants, expanding on similar efforts by General Motors Co and Fiat Chrysler to convince leaders of the United Auto Workers union to send members back to work. The UAW so far has… Continue reading Ford Motor steps up campaign to convince union workers to restart U.S. output

Visteon Announces First-Quarter 2020 Results

Net sales of $643 millionNet loss of $35 million, including $33 million of restructuring chargesAdjusted EBITDA of $33 millionAwarded $800 million in new businessAvailable cash of $825 million; no near-term debt maturitiesVAN BUREN TOWNSHIP, Mich., April 30, 2020 (GLOBE NEWSWIRE) — Visteon Corporation (NASDAQ: VC) today announced first-quarter 2020 results, reporting net loss attributable to… Continue reading Visteon Announces First-Quarter 2020 Results

Otonomo Raises $46M in Series C Funding to Expand Its Automotive Data Services Platform

HERZLIYA, ISRAEL, April 30, 2020 (GLOBE NEWSWIRE) — Otonomo, the leading automotive data services platform, today announced $46 million in series C funding. The round includes investments from SK Holdings, Avis Budget Group, and Alliance Ventures as well as participation from existing investors such as Bessemer Venture Partners. This round brings the company’s total funding… Continue reading Otonomo Raises $46M in Series C Funding to Expand Its Automotive Data Services Platform

Nidec Announces Financial Results for Fiscal Year Ended March 31, 2020

KYOTO, Japan, April 30, 2020 (GLOBE NEWSWIRE) — Nidec Corporation (TSE: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the fiscal year ended March 31, 2020.The highlights are as follows:Net sales up 4% Y/Y to a record 1,535 billion yen.Operating profit down 15% Y/Y to… Continue reading Nidec Announces Financial Results for Fiscal Year Ended March 31, 2020

Ferrari starts the “Installation Lap” phase, courses on new safety regulations.  

Training and serological tests before production resumes and gradually ramps up from 4 May.Maranello, 30 April 2020 – Ferrari N.V. (“Ferrari” or the “Company”) (NYSE/MTA: RACE) has launched the “Installation Lap” phase, safety training primarily for employees involved in the resumption of production from Monday 4 May.The Company has dedicated several days to this crucial… Continue reading Ferrari starts the “Installation Lap” phase, courses on new safety regulations.  

Uber CTO Resigns

While Uber’s food delivery business, Uber Eats, has seen an uptick in use as people stay home, it has failed to make up for the losses on the ride-hailing side.  Photo via Shopblocks/Flickr. Uber’s Chief Technology Officer, Thuan Pham, is leaving the company, according to a filling with the Securities and Exchange Comission. Pham had been… Continue reading Uber CTO Resigns

Nissan plans to restart output at UK’s biggest car factory in June

FILE PHOTO: A Nissan logo is pictured at Brussels Motor Show, Belgium, January 9, 2020. REUTERS/Francois Lenoir LONDON (Reuters) – Nissan (7201.T) will restart phased production in early June at its northern English Sunderland factory, Britain’s biggest car plant, as the sector tries to resume operations amid the coronavirus outbreak. Output at the site, which… Continue reading Nissan plans to restart output at UK’s biggest car factory in June

Tesla warns on shutdown as Musk calls for end to lockdown

Demand for Tesla’s electric cars held up in the first three months of the year, despite upheavals caused by the coronavirus pandemic. Quarterly revenues jumped 30% from last year to $5.9bn (£4.7bn), allowing the firm to turn a small profit of $16m. It is the third quarterly profit in a row for the company, marking… Continue reading Tesla warns on shutdown as Musk calls for end to lockdown