Stung hard by the COVID-19 crisis, we’re getting word that BYTON has suspended operations and furloughed the majority of its employees worldwide for 6 months. Only a small team will remain for management decision making. It’s disappointing to hear, but not entirely surprising. The COVID-19 pandemic has and will continue to take its toll on… Continue reading BYTON Suspends Operations And Furloughs Employees, Future Is Uncertain
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U.S. appeals court stays order requiring GM, FCA meet to resolve GM lawsuit
FILE PHOTO: The GM logo is pictured at the General Motors Assembly Plant in Ramos Arizpe, state of Coahuila, Mexico October 7, 2019. REUTERS/Daniel Becerril DETROIT (Reuters) – A U.S. appeals court on Monday stayed a lower court’s order requiring officials from General Motors Co (GM.N) and Fiat Chrysler Automobiles (FCHA.MI)(FCAU.N) to resolve GM’s racketeering… Continue reading U.S. appeals court stays order requiring GM, FCA meet to resolve GM lawsuit
Bharat Forge writes off its investment in e-truck maker Tevva Motors
Bharat Forge has provided Rs 89 crore towards impairment of its investment in Tevva Motors (Jersey) Ltd, the company said in a regulatory filing today. In June 2018, Bharat Forge had taken a strategic stake in the UK-based Tevva Motors, a provider of electric powertrain solutions for commercial vehicles for 10 million pounds (about Rs… Continue reading Bharat Forge writes off its investment in e-truck maker Tevva Motors
Lookers fraud probe reveals £19m hole in accounts
Car dealership Lookers has agreed to correct its accounts after auditors found it overstated profitability by a total of £19m over several years. Auditors Grant Thornton have been investigating potential fraud at the Altrincham-based firm. Their draft report found some “fraudulent expense claims” and “several areas” where financial controls “require strengthening”. Earlier this month, Lookers… Continue reading Lookers fraud probe reveals £19m hole in accounts
India plans incentives for auto companies to boost exports
Indian government is planning incentives for big automakers, components firms to boost local manufacturing and export to overseas countries. NEW DELHI,: India is drawing up an incentive scheme for the autos sector aimed at doubling exports of vehicles and components in the next five years, four sources with direct knowledge of the matter told Reuters.… Continue reading India plans incentives for auto companies to boost exports
Nikola Badger Pickup Truck Reservation Website To Go Live Today At 11 AM ET
NIKOLA BADGER PREORDERS OPEN JUNE 29 AT 11 AM ET Nikola Badger EV pickup will debut at Nikola World 2020 in December Nikola World 2020 is December 3-5, 2020 Preorders secure a Nikola World 2020 ticket and receive a discount off vehicle purchase All preorders qualify for a chance to win a Badger at Nikola… Continue reading Nikola Badger Pickup Truck Reservation Website To Go Live Today At 11 AM ET
ACMA flags off supply chain issues due to delay in getting Chinese-made parts
The past few days have seen news about inordinate delays in Indian industry receiving import consignments from China, possibly a result of the collateral damage in the relationship between the two countries as a result of recent clash in Ladakh. It is understood that import consignments from China are being subjected to 100 percent manual… Continue reading ACMA flags off supply chain issues due to delay in getting Chinese-made parts
Rinspeed 3D prints 30+ parts of modular MetroSnap concept electric vehicle with Stratasys FDM and PolyJet technology – TCT Magazine
Rinspeed 3D prints 30+ parts of modular MetroSnap concept electric vehicle with Stratasys FDM and PolyJet technology TCT Magazine Go to Source
The British dealership that is in full commercial boom due to its online channel and contactless deliveries
June 29, 2020 Category: Faconauto News The group of dealers Imperial Cars is registering records of visits on its website and expects June to end with historical figures at the commercial level. Despite the fact that the COVID-19 crisis has paralyzed the automobile market, many dealerships are successfully reactivating sales. A few days ago, at… Continue reading The British dealership that is in full commercial boom due to its online channel and contactless deliveries
Lutz Meschke: Porsche CFO will also become a board member at Holding Porsche SE
Lutz Meschke The manager will continue to carry out his duties as CFO and deputy chairman of the board of the sports car manufacturer Porsche AG. (Photo: dpa) Stuttgart Porsche-Finance director Lutz Meschke will also be responsible for the investment business of VW– parent company Porsche SE. The 54-year-old will take over the position on… Continue reading Lutz Meschke: Porsche CFO will also become a board member at Holding Porsche SE