Vertu Motors declared an intention to add new manufacturer partners as it grows through acquisition in a 2019 results statement following its first two days of showroom trading since the COVID-19 lockdown. Group chief executive, Robert Forrester, told AM “there’s no point being pessimistic” as he discussed the results of the group’s financial year to… Continue reading Vertu Motors announces acquisition intention in 2019 financial results
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Bollinger Motors Granted Patent for Passthrough and Frunkgate
U.S. Patent No. US20190351950A1 is composed of: Passthrough:The Passthrough refers to the opening that spans the length of the vehicle, from the front-cargo space (frunk), through the interior of the cab, to the rear of the vehicle. In the Bollinger B1 sport utility truck and the B2 pickup, the Passthrough enables an uninterrupted 13-foot and 16-foot… Continue reading Bollinger Motors Granted Patent for Passthrough and Frunkgate
Geely’s Volvo Cars sales soar 40% in May vs month-ago as virus curbs ease
An employee at a Volvo car dealer, wearing a protective mask is seen in the showroom, amid the coronavirus disease (COVID-19) outbreak in Brussels, Belgium May 28, 2020. REUTERS/Yves Herman STOCKHOLM (Reuters) – Volvo Cars, owned by China’s Geely Holding, said on Wednesday it sold 40% more cars in May than in April, as restrictions… Continue reading Geely’s Volvo Cars sales soar 40% in May vs month-ago as virus curbs ease
Indonesian decacorn Gojek snags funding from Facebook, PayPal
Southeast Asian ride-hailing decacorn Gojek has secured an unspecified amount of investment from Facebook and PayPal as part of its Series F funding round. Gojek’s existing backers Google and Tencent have also topped their investments in the company, according to an official statement. The latest capital injection has brought the company’s Series F round to… Continue reading Indonesian decacorn Gojek snags funding from Facebook, PayPal
Rivian makes cuts and names new chief operating officer
Amazon-backed EV startup Rivian has laid off about 40 employees at its engineering and design center in Plymouth, Michigan, The Verge has learned. The cuts, which the company has confirmed to The Verge, were made across departments and included engineers, recruiters, and others, according to two former employees. The company has also made a number… Continue reading Rivian makes cuts and names new chief operating officer
Bird shuts down Circ operations in Middle East, scraps as many as 10,000 scooters
Bird has shut down scooter sharing in several cities in the Middle East, an operation that was managed by Circ, the micromobility startup it acquired in January. About 100 Circ employees have been laid off and as many as 10,000 Circ scooters have been sent to a third-party UAE-based company for recycling, according to multiple… Continue reading Bird shuts down Circ operations in Middle East, scraps as many as 10,000 scooters
FCA says almost 90% of North American hourly workforce back on job
Fiat Chrysler Automobiles says almost 90% of its hourly workers in North America are back on the job this week. The automaker released a breakdown this week of the return to work following the lengthy manufacturing shutdown caused by the coronavirus pandemic. The company said 48,145 of 54,940 hourly workers, or 88%, have returned to work in… Continue reading FCA says almost 90% of North American hourly workforce back on job
Most GM plants to operate through summer shutdown
General Motors Co. on Monday confirmed with its employees that most of the companies’ U.S. plants will operate through its usual two weeks of summer downtime. Truck and SUV plants will run during the weeks of June 29 and July 6 to “meet strengthening customer demand and strong dealer demand,” the company said in a… Continue reading Most GM plants to operate through summer shutdown
GM should emerge from pandemic with permanently lower costs: CEO
FILE PHOTO: Mary Barra, CEO of General Motors, attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, U.S., July 12, 2019. REUTERS/Brendan McDermid DETROIT (Reuters) – General Motors Co (GM.N) should emerge from the coronavirus pandemic with a permanently reduced cost base after it scrambled to reduce its cash burn… Continue reading GM should emerge from pandemic with permanently lower costs: CEO
Tata Motors resumes operations across all manufacturing plants
To further shore up the liquidity, the company has issued commercial papers of Rs 3,500 crore and also raised Rs 1,000 crore through non-convertible debentures (NCDs), it added. NEW DELHI: Tata Motors on Tuesday said it has resumed operations across all its manufacturing plants in the country. The company has restarted operations at all plants… Continue reading Tata Motors resumes operations across all manufacturing plants