Wolfgang Hatz The former head of engine development at Audi and later Porsche board member has since been accused by the judiciary of fraud, among other things. (Photo: Â © argum / Thomas Einberger for Handelsblatt) Dusseldorf lockdown total. 23 hours a day in a small cell, in custody for nine months. There is probably… Continue reading Exhaust scandal: Ex-Audi manager Hatz: The man who doesn’t want to know about anything
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Nissan plans $2.8bn cost cut, scaling back US factory
TOKYO — Nissan Motor plans to scrap a production line at one of its two U.S. auto assembly plants as part of an effort to cut 300 billion yen ($2.79 billion) in annual costs, Nikkei learned Tuesday. The closure of a line at the factory in Canton, Mississippi, is expected to reduce the Japanese automaker’s… Continue reading Nissan plans $2.8bn cost cut, scaling back US factory
Formula One carmaker McLaren cuts 1,200 jobs amid Covid-19 crisis
Automotive industry Group seeks to raise £275m after racing season and supercar sales ground to a halt Coronavirus – latest updates See all our coronavirus coverage McLaren hopes the British Grand Prix Formula One will go ahead in July. Photograph: David Davies/PA McLaren Group, the Formula One team owner and maker of supercars, is cutting… Continue reading Formula One carmaker McLaren cuts 1,200 jobs amid Covid-19 crisis
Infineon to raise 1 bln euros with capital increase
FILE PHOTO: The logo of semiconductor manufacturer Infineon is seen at its Austrian headquarters in Villach, Austria, June 3, 2018. REUTERS/Lisi Niesner BERLIN (Reuters) – German chipmaker Infineon Technologies aims to raise about 1 billion euros ($1.1 billion) by issuing new shares to partially finance its $10 billion acquisition of U.S.-based Cypress Semiconductor, it said… Continue reading Infineon to raise 1 bln euros with capital increase
BMW to begin gradual restart in San Luis Potosi, Mexico on May 27
FILE PHOTO: A BMW logo is seen on a car at the International Auto Show in Mexico City, Mexico November 23, 2017. REUTERS/Henry Romero MEXICO CITY (Reuters) – German carmaker BMW said on Tuesday it would begin a gradual restart of operations at its plant in the central Mexican state of San Luis Potosi on… Continue reading BMW to begin gradual restart in San Luis Potosi, Mexico on May 27
Bolt, the European on-demand transport company, raises $109M on a $1.9B valuation
Bolt, a rival to Uber and others providing on-demand ridesharing, scooters and other transportation services across some 150 cities in Europe and Africa, is today announcing another capital raise as it weathers a difficult market climate where, because of COVID-19, many are staying in place and avoiding modes of transport that put them into contact… Continue reading Bolt, the European on-demand transport company, raises $109M on a $1.9B valuation
France aims to become Europe’s top producer of clean cars -Macron
PARIS, May 26 (Reuters) – France wants to become the leading producer of clean cars in Europe and aims to build a million such vehicles within five years, French President Emmanuel Macron said on Tuesday. Macron also said that France would increase the state bonus for consumers buying electric cars to 7,000 euros ($7,691.60) from… Continue reading France aims to become Europe’s top producer of clean cars -Macron
Autonomous and electric cars to be key part of autos sector -Macron
FILE PHOTO: French President Emmanuel Macron speaks during a joint video news conference with German Chancellor Angela Merkel at Elysee Palace in Paris, France May 18, 2020. Francois Mori/Pool via REUTERS PARIS (Reuters) – Autonomous vehicles and electric vehicles will form a key part of the automotive sector after the coronavirus crisis, French President Emmanuel… Continue reading Autonomous and electric cars to be key part of autos sector -Macron
Hertz awards over $16 million in retention bonus to key executives
FILE PHOTO: Logos of car rental company Hertz are seen outside Paris Charles de Gaulle airport in Roissy-en-France during the outbreak of the coronavirus disease (COVID-19) in France May 19, 2020. REUTERS/Charles Platiau/File Photo (Reuters) – U.S. car rental company Hertz Global Holdings (HTZ.N) said on Tuesday it has paid about $16.2 million in retention… Continue reading Hertz awards over $16 million in retention bonus to key executives
Lithium producers must wait as pandemic slows electric vehicle revolution
JOHANNESBURG/HOUSTON (Reuters) – The coronavirus pandemic has paused the electric vehicle revolution, forcing producers of battery metal lithium into survival mode with output cuts, expansion delays and sales of major assets. FILE PHOTO: A parking sign for electric vehicles is pictured, where U.S. electric vehicle pioneer Tesla announced to build its first European factory and… Continue reading Lithium producers must wait as pandemic slows electric vehicle revolution