FILE PHOTO: A Mirafiori FCA worker walks at the Mirafiori industrial complex on the 80th birthday of the plant in Turin, Italy July 11, 2019. REUTERS/Massimo Pinca/File Photo MILAN (Reuters) – A 6.3 billion euro ($7 billion) state-backed loan for Fiat Chrysler (FCA) (FCHA.MI) financed by Intesa Sanpaolo (ISP.MI) is crucial to safeguard Italy’s economy,… Continue reading Intesa CEO says state-backed FCA loan crucial to protect Italy’s economy
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Coronavirus: Lookers and Aston Martin cut 2,000 car jobs
Car dealership Lookers has announced it will cut up to 1,500 jobs with the closure of more showrooms in the UK. The company reopened its showrooms on Monday after the government lifted coronavirus lockdown restrictions. Luxury carmaker Aston Martin also announced 500 redundancies, a week after naming a new chief executive. It comes as the… Continue reading Coronavirus: Lookers and Aston Martin cut 2,000 car jobs
UPDATE 1-German auto stimulus to boost VW’s electric push
BERLIN/FRANKFURT (Reuters) – Germany unveiled sweeping incentives for cheap electric cars, providing a boost to Volkswagen’s (VOWG_p.DE) electric push while penalising heavy sports utility vehicles (SUVs) with new staggered taxes for polluting combustion-engined cars. FILE PHOTO: A Volkswagen E-Golf electric vehicle is displayed at the Canadian International Auto Show in Toronto, Ontario, Canada February 18,… Continue reading UPDATE 1-German auto stimulus to boost VW’s electric push
Aston Martin axes 500 jobs after sales slump due to coronavirus
Aston Martin Carmaker seeks to save £28m in cost-cutting drive under new chief executive Aston Martin said despite the cost-cutting it was still on course to produce its first sports utility vehicle, the DBX, which is made in south Wales. Photograph: Aston Martin/PA The luxury carmaker Aston Martin Lagonda plans to make 500 workers redundant… Continue reading Aston Martin axes 500 jobs after sales slump due to coronavirus
Car dealer Lookers cuts 1,500 jobs and closes 12 showrooms
Job losses UK firm to axe almost one-in-five jobs to help save £50m as car sales slump during Covid-19 crisis Would-be buyers pictured at Vauxhall Lookers in Speke, Liverpool, after car showrooms reopened for the first time since lockdown. Photograph: Peter Byrne/PA The car dealership chain Lookers plans to cut 1,500 jobs and close 12… Continue reading Car dealer Lookers cuts 1,500 jobs and closes 12 showrooms
Exclusive: GM plans electric van for business users in bid to pre-empt Tesla
DETROIT (Reuters) – General Motors Co is developing an electric van aimed at business users, joining a growing list of carmakers planning EVs for the same segment which includes customers such as Amazon.com Inc and United Parcel Service Inc, five people familiar with the plans told Reuters. Models of the Rivian-built Amazon electric delivery vans… Continue reading Exclusive: GM plans electric van for business users in bid to pre-empt Tesla
UK car dealers suffer worst May since 1952: SMMT
Vehicles are seen on the A406 North Circular Road near Bounds Green following the outbreak of the coronavirus disease (COVID-19), London, Britain, May 14, 2020. REUTERS/John Sibley LONDON (Reuters) – British new car sales tumbled by an annual 89% in May, only slightly less negative than April’s record 97% collapse, as car dealerships remained shuttered… Continue reading UK car dealers suffer worst May since 1952: SMMT
KARMA AUTOMOTIVE COMPLETES E-FLEX PLATFORM PROJECTS TO OFFER NEW ELECTRIC MOBILITY SOLUTIONS
VIEW ALL () x Jun 03,2020 Karma E-Flex Platforms Offer Fast-to-Market Electric Vehicle Conversions Multiple Platform Configurations Available for a Broad Range of Van, Truck, SUV and High-Performance Applications Karma E-Flex Innovations Allow Manufacturers to Reduce EV Development Time and Costs through Open Platform Partnerships and Proven Technology Irvine, Calif. (June 3, 2020) – Today… Continue reading KARMA AUTOMOTIVE COMPLETES E-FLEX PLATFORM PROJECTS TO OFFER NEW ELECTRIC MOBILITY SOLUTIONS
Kitty Hawk moves on from its original flying car project
Kitty Hawk’s Flyer, the company’s first flying car project, is no more. The company has announced that it’s shutting down the initiative in a blog post, where it has also revealed that it’ll focus on its Heaviside plane going forward. According to TechCrunch, Kitty Hawk is laying off most of Flyer’s 70-person team, though a… Continue reading Kitty Hawk moves on from its original flying car project
Singapore car-sharing player Smove files for liquidation
Singapore-based car-sharing player Smove has voluntarily entered liquidation, according to a regulatory filing by the company. The development was first reported by the Straits Times. A filing with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) confirmed the move. A call to Smove’s customer service line went unanswered and the company didn’t immediately respond to DealStreetAsia’s… Continue reading Singapore car-sharing player Smove files for liquidation